Things are looking rougher financially. The Stock Market is down more than 20% from the start of the year and has ventured into Bear territory. I've already maxed out the $6,000 limit on contributions to my IRA. I've capped out the $4,000 limit the state puts on deductible contributions to my kid's 529. That said, I'm still contributing in an effort to A) play catch up for a couple of years not contributing, and B) taking advantage of both my temporary increase in income and downward state of the market. Additionally, I've been funneling excess cash into my brokerage account (and also paying down the mortgage). Hopefully, when the market bounces back I'll be able to capitalize on the anticipated higher returns.
I'm expecting to return to my normal job here in the fall. Along with that, my income will be reduced by approximately half. It'll be tough to swallow but I've also been very resistant to lifestyle creep as I knew that this opportunity was limited and would come to an end eventually. Having had the bump in pay has let me fill the coffers, contribute to my retirement accounts and 529 for my son. I'm also taking a trip in the next few weeks to see a friend's Change of Command event - expecting roughly a $1,500 outflow for three days of travel and lodging; ouch.
My employer is also requesting that I obtain an industry certification when I return. I've been researching different ways I can satisfy this but not really closer to getting it. Also, still weighing options on a coding boot camp though the prospect of laying down $15,000 to get a $65K job (starting out) is still something I'm struggling with reconciling. I like what I'm doing but also think I'd enjoy career options as a Software Developer/Engineer.
Until next time. |