Picking up Nickels

Tuesday, February 11, 2020

February 2020 Financial Asset Roundup

Here are my current financial assets as of the market close on February 10th, 2020:

Asset Jan
Checking 2,586 2,347 -239
Money Market 63,350 60,075 -3,275
Savings Bonds 161,528 161,762 234
Treasury Bills 0 0 0
CDs 79,816 80,046 230
Brokerage 189,210 194,292 5,082
401k 236,337 246,180 9,843
Roth IRA 181,363 183,394 2,031
SEP IRA 882,713 901,934 19,221
529 Savings 185,732 187,811 2,079

Total Assets $1,982,635 $2,017,841 $35,206

The market continues to set record highs since the last update, with the S&P 500 rising 2.66% during that time:

(chart courtesy of nasdaq.com)

On the jobs front, the unemployment rate for January rose slightly to 3.6%, with 225,000 new jobs created. Oil prices have dropped about 15% to the $51 level, perhaps with a little help from anxiety over the coronavirus outbreak. We've also seen a minimal impact from the impeachment acquittal of the US President, which is remarkable considering how historically rare impeachment is.

On the financial front, my assets have again hit an all-time high, surpassing the previous high from January 2020 and hitting the $2m asset milestone!. I've been fortunate enough to be on a pretty good run since I hit the $1m asset milestone in November 2013, and am now actually able to accelerate retirement plan contributions due to my switch from a SEP IRA to a Solo 401k and the impending availability of catch-up contributions for people of a *ahem* certain age. As work on my 2019 S Corp tax returns winds down, I've been able to finalize my 2019 401k employer contributions and start to look at the what the Section 199A qualified business income deduction will look like on my personal return. Part of this process will also include maximum 2019 Roth IRA contributions for Mrs. Frugalson and myself.

As for the non-financial, my goal is to finalize my 2019 business and personal tax returns this month, and I'm still hoping that my soon-to-be high school graduate will choose to attend one of the more "affordable" school options (Ha!) in the Fall.