Hello December! I hope you all had a great Thanksgiving! As we enter the final stanza of 2021, we have a few things cooking. Come on in and take a peek under the hood if you want!
You can check the latest and greatest info on the Track Our Progress page.
First, the numbers:
Net Worth:
- End of November Balance: $1,017,122 up $10,994
- Year to Date (YTD): Up $256,742 (up 33.8%)
- Since January 2018 (this is when I started tracking our net worth): Up $712,122
Portfolio:
- End of November Balance: $840,970 up $9,423
- YTD: Up $225,099 (up 36.6%)
- Since January 2018: Up $600,970
November Highlights
Closing in on the ROTHs
At the beginning of November we had some ground to make up with respect to our yearly ROTH contributions. The 2021 limits are $6,000 each ($12,000 total). We pushed ahead and were able to get within $1,000 of the yearly total. Close enough to max both accounts in early December.
Turkey Triumph
We hosted Thanksgiving for my wife’s side of the family this year. It was the first time we’ve hosted for this holiday, so it was a bit daunting. Further, I elected to smoke the turkey instead of the more conventional oven roasted approach and make gravy from the drippings… another first for me.
I am happy to say that we pulled it all off successfully. There will be more smoked turkeys in our future.
Wearing the Crown, the Hard Way
Right before the good eats of Thanksgiving, I went in for a routine dental cleaning and the dentist informed me that my 7-year old crown needed replacing. Thankfully, it wasn’t critical and I was able to schedule the crown’s removal for right after the holiday. I’m wearing the temporary crown as I type this, with the permanent one slated for mid-December.
Coming Up in December
Bonus Time
My work typically offers year-end bonuses around mid-December. These are not guaranteed, of course, but this year looks like we should be getting one. Usually, we use my bonus to finish off the ROTHs and make a year-end donation. However, with the ROTHs topped off prior to the bonus it offers up other possibilities.
Bonus Time Part II
My wife and I get another “Bonus” for the rest of December as well. This is because our 401ks were maxed out in November. In a normal pay period we divert 20%+ of each pay check into our 401ks. So for the rest of December each pay check has a sizeable increase. Enough that we can make our year-end donation without touching my bonus money.
What to Do?
Because of the above, we are in the enviable position where we can debate how we are going to deploy these dollars.
- Should we make 529 contributions?
- Deposit the difference into our taxable account?
- Pad our emergency fund?
- Increase our planned donations?
- Spend the bonus?
I’m so thankful we can have this first world problem-type discussion. Come back in January and maybe we will have this sorted.
Thanks for reading!
