Financial Freedom Blog Post #12

 Dear Reader, how do you feel?

Well, it has been a minute and a half over here!

Today's posting will be an update of our assets and liabilities.

Please note that again this doesn't Mr. ItF's assets, except for the co-op which we jointly own.

Without further ado, our/my assets:

	Bank Accounts		Investments		Real Estate		Valuables
	Description	Value	Description	Value	Description	Rough Value	Description	Rough Value
	Credit Union 1	$1,040.05	Roth IRA	$75,747.18	Co-op	$595,000.00	Jewelry	$4,359.00
	Credit Union 2	$52.03	403(b)	$116,431.84
	Checking 1	$4,832.93
	Checking 2	$1,789.56
	Checking 3	$4,408.41
	Checking 4	$135.00
	Business Checking 1	$1,013.52
	Online Payment System (Business)	$20.00
	Savings 1	$811.44
Totals		$14,102.94		$192,179.02		$595,000.00		$4,359.00
Total Assets	$805,640.96

And our/my liabilities:

Description	Amount Owed	Interest Rate
Credit Card 1	$1,846.59	N/A
Mortgage	$284,484.60	3.25%
Total	$286,331.19

Again, Mr. ItF's liabilities are not included, except for the co-op which we jointly own.

Let's figure out our savings rate!

Total Saved Per Year	$31,985.88
Income	$37,102.68
Savings Rate	86.21%

Now I know you are asking, how is it possible for your savings rate to be so high?

Dear reader, please let me explain.

I place my income directly from my W-2. Although my SS wages are higher, the actual wages as reported on my W-2 are $37,102.68. This is due to the large increase in my pre-tax contributions to my 403(b), which results in a lower income (but simultaneously higher savings rate).

Furthermore - I am counting the amount I save per year in my aforementioned pre-tax contributions, but also the 5% matching and 5% bonus contributions to my 403(b) from the non-profit I work for. Therefore, even though the savings rate says 86.21%, 10% of that (well, more than 10% of that post-tax income - in fact if I were rounding up it'd be closer to 20%, it's actually roughly 17.48%) doesn't actually come from money I am saving (but from the non-profit).

Furthermore, that income I am taking from my full-time job. I do have bits and drabs of income coming in (nothing substantial) from other income sources, such as taking surveys, opening bank accounts, gambling, etc. that I haven't counted in this income. So were I to hazard a guess at my actual savings rate, I would say it's probably somewhere between 50-60%.

Hope that makes sense.

Well, it has been quite a day so this is,

Signing off,

Yours truly,

Into the FIRE