Financial Transparency for first month of 2017.
music selection: “Give Me All Your Love” — Whitesnake
weigh-in: 213.2 +3.4 – Superbowl eating!
Wells Fargo (taxable): I’m up 613 here to 29,747. A monthly gain of 2.10%.
Interactive Brokers (taxable): Strong gains of 10,221 for the month up to 279,747. That is a gain of 3.79% – smoking!
Interactive Brokers (tIRA): A more pedestrian gain of 2,108 to 142,325. That is good for a monthly gain of 1.50%.
Checking: Not much action here with cash balance up 685 to 9,128 or a 8.11% gain.
Total Assets: Total assets increased 13,924 to 461,244, which is good for a 3.11% gain on the month. I’m more than happy with that result.
Taxes: I should qualify for the full Obamacare subsidy for 2016 thanks to tax loss harvesting. That will not be an option in 2017 so I’m going to start converting my tIRA to Roth. I’ll need to send Uncle Sugar 1,250 a quarter to reach 5,000 by year end to support 20,000 in conversions.
My projected 12 month withdrawal is now 24,000. I’m budgeted at an even 2,000 a month to make the math easy. It’s going to be tight with the extra income tax burden. Against an asset base of 461,244 that is a projected withdrawal rate of 5.20%. Current forward twelve month estimate for distributions, dividends, and interest is 25,263 or 105.26% of budget. I also clocked 3,805 in options income for the month. That is a record and not likely to be duplicated again this year. Overall, I’m happy to have budget met by distributions with options premium serving as gravy.
Spending for the month came in at 1,757. I’ve done better but its good to just be under budget. I need to get a little further under budget to meet my tax burden without needing to increase withdrawals. I have some additional expense hitting the credit cards next month as I registered for FinCon in Dallas and booked a hotel room.
Devour your prey raptors!