2million's Personal Finance Blog

My Journey to Financial Freedom

October 2, 2006

September 2006 Net Worth Update (+$7,863)

It feels nice to see a solid monthly increase, especially one that isn't attributed to any one time gains. My net worth increased a healthy $7,863 even after spending $2k on a HVAC repair. From here on out its a...
Continue reading "September 2006 Net Worth Update (+$7,863)" »

October 4, 2006

Interview on Money Blogger Podcast

Scott over at Money Bloggers Podcast recently interviewed me for his podcast series. Click To Play: If you haven't listened to all his previous interviews, be sure to dig into the archives. I recently listened to all of them -...
Continue reading "Interview on Money Blogger Podcast" »

October 5, 2006

Don't Rush When Settling Up on Services Performed

While I was back home getting my HVAC repaired I also had a chimney guy out for the 3rd time trying to get a damper installed in the fireplace. This transaction was off to a good start when the person...
Continue reading "Don't Rush When Settling Up on Services Performed" »

October 6, 2006

Citi Diamond Rewards Credit Card Changes Redemption Program

I was disappointed when I logged into my Citi Card Thank You Network Account to find that they "modified" the awards program. It now takes 6,000 point to earn a $50 gift card. These points are earned as part of...
Continue reading "Citi Diamond Rewards Credit Card Changes Redemption Program" »

October 9, 2006

Whats My Action Plan to Financial Freedom?

A recent comment really got me thinking. The comment was straight to the point - what am I doing to reach my goals? On the surface I am doing what everyone else is doing - working, saving money, and investing....
Continue reading "Whats My Action Plan to Financial Freedom?" »

Do Employer 401k Contributions Count Toward the Max?

Short answer - no. In a 401(k) the employer match does not count towards the annual maximum contribution. In 2006 the IRS limits your maximum contribution to $15,000 (plus $5,000 catch-up contribution for those over the age of 50). In...
Continue reading "Do Employer 401k Contributions Count Toward the Max?" »

October 10, 2006

Merging Finances

As soon as we got engaged I wanted to dive right into our finances. I immediate saw it as an opportunity to cut costs and get both our balance sheets moving in the same direction towards financial freedom. My...
Continue reading "Merging Finances" »

October 11, 2006

Midpoint in Temporary Assignment Expenses

Amazing as it is to me, I am already halfway through my temporary assignment at work. NY has been nice (especially the cooler evenings), but being the tightwad I am it also been tough getting use to the higher prices...
Continue reading "Midpoint in Temporary Assignment Expenses" »

Free Stock Trading Taking Off

At the beginning of this week Zecco announced they would offer limited free trading accounts on their web site (40trades/mo, min $2500). There has been alot press and interest in it, but I have been skeptical - after all, when...
Continue reading "Free Stock Trading Taking Off" »

October 13, 2006

Small Steps Towards Merging Finances

Here are the financial actions my fiancée and I have taken since getting engaged: 1) Opened a joint savings account with monthly contributions for future vacations. 2) We started reading Smart Couple Finish Rich. 3) We reviewed my fiancée’s checking,...
Continue reading "Small Steps Towards Merging Finances" »

October 16, 2006

A Savings Goal for the Wedding Budget

As I previously mentioned, the wedding budget has been a sensitive topic for my fiancee and I. She quickly jumped off to the races thinking that we needed to book a reception location immediately and I just as quickly got...
Continue reading "A Savings Goal for the Wedding Budget" »

October 17, 2006

What Investing Books am I Reading?

I still have a bunch of investing books I am trying to read (after excluding the ones given by publishers to review). Even a guy like me, who loves to talk about personal finance, can consume only limited quantities of...
Continue reading "What Investing Books am I Reading?" »

October 18, 2006

The Real Return on My Rental Property

I have been renting my 1st home for just over a year and now have 12 months of data to look at. Lets see how this investment is fairing. I purchased this property for $160,000 in 2002, lived in it...
Continue reading "The Real Return on My Rental Property" »

October 20, 2006

Redeemed Savings Bonds

I finally got around to going to my local bank and cashing in some savings bonds. I ended up redeeming the following: Denom. Issue Date Maturity Interest Rate Current Value $100 Oct-83 Oct-13 3.47% $ 182.56 $100 Apr-83 Apr-13 3.54%...
Continue reading "Redeemed Savings Bonds" »

October 23, 2006

Sold 200 shares in my IBM ESPP

I have received many comments over the past year about the large amount of company stock I am holding in my ESPP (employee stock purchase plan). Commentors espoused the virtues of diversification and mentioned the risk of double damage between...
Continue reading "Sold 200 shares in my IBM ESPP" »

October 24, 2006

How Much House Does a Typical Multi-Millionaire Own?

According to Michael Masterson in Automatic Wealth the average person with a net worth of $6.8 million owns a primary residence worth $545,000. Wow! That’s a lot lower than I would have guessed. He argues that owning an inexpensive home...
Continue reading "How Much House Does a Typical Multi-Millionaire Own?" »

October 25, 2006

College Town Real Estate

Here is an interesting article from Yahoo!Finance on the appeal of real estate in college towns. It just so happens both of the houses I own are in very close proximity to local major universities (within 1 mile). I think...
Continue reading "College Town Real Estate" »

October 26, 2006

Transferring Merck Shares to Sharebuilder

As I have mentioned before, I have an investment in Merck. At the time I thought the shares were undervalued and felt the 5% dividend payment was too tempting not to invest. I opened a Merck DRIP and my investment...
Continue reading "Transferring Merck Shares to Sharebuilder" »

October 27, 2006

What are DRIPs?

DRIPs? They are Dividend ReInvestment Plans - accounts usually sponsored by publicly traded companies to promote long term stock ownership. DRIPs often offer lower ownership costs for long term stockholders, however it totally depends on the plan. Each company offers...
Continue reading "What are DRIPs?" »

October 30, 2006

Smashing Through My 2006 Net Worth Goal

Back in December 2005, I set a 2006 net worth goal of $262,000. I was a bit conservative on setting my net worth goal as I knew I would be making big purchases such as a new home, engagement ring,...
Continue reading "Smashing Through My 2006 Net Worth Goal" »

Why Didn't I Think of That?

Another pyramid scheme for the internet. mmmzr, created by Tadashi, has made another smart kid rich, leaving me in the dust :-). Seth Godin, a marketing guru, has a great article about MLMs etc and why he doesn't think they...
Continue reading "Why Didn't I Think of That?" »

October 31, 2006

Investing in Candy after Halloween

If your like me, you like to indulge with a little candy every once and awhile (if not, candy is also a good tool to use in the workplace, but more on that another time). Regardless, this next week...
Continue reading "Investing in Candy after Halloween" »