Picking up Nickels

Wednesday, March 11, 2020

March 2020 Financial Asset Roundup

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

Asset Feb
Checking 2,347 2,093 -254
Money Market 60,075 45,005 -15,070
Savings Bonds 161,762 162,007 245
Treasury Bills 0 0 0
CDs 80,046 95,263 15,217
Brokerage 194,292 171,277 -23,015
401k 246,180 215,748 -30,432
Roth IRA 183,394 166,075 -17,319
SEP IRA 901,934 815,967 -85,967
529 Savings 187,811 185,174 -2,637

Total Assets $2,017,841 $1,858,609 -$159,232

What a difference a month makes.

Fear over the spreading Coronavirus pandemic combined with an ill-timed oil price war has taken the market out to the woodshed, with the S&P 500 dropping 14.02% since the last update:

(chart courtesy of nasdaq.com)

On the jobs front, the unemployment rate for February fell to 3.5%, with 273,000 new jobs created. The price war between OPEC and Russia has helped oil prices drop by about 34% to the $33 level. The Federal Reserve also made their first emergency rate cut since the financial crisis in 2008, signaling that a recession may be on our doorstep.

On the financial front, our 2019 personal tax returns spit out a MAGI that allowed maximum Roth IRA contributions for Mrs. Frugalson and myself (Done!). I also moved some cash into a Alliant 1.85% APY 12 month CD once the Federal Reserve announced their rate cut last week since I think we're headed to another extended period of low deposit rates.

As for the non-financial, I'm very concerned about the seriousness of the Coronavirus. With the way it seems to spread, I'm particularly worried about elderly family members. That being said, caution does not mean panic. Be well everyone!