Up almost 13,000 on the month.
music selection: “Slip Of The Tongue” — Faster Pussycat
Spending is about on target but going over the next couple months. I have unplanned expenses for auto repair, home repair, and the eye doctor. I’ll have to be extra careful through year end with spending. The “job” that was presented to me last month turned out to be an MLM (no thanks). Same MLM had a different salesperson contact me a week later. (Still no thanks). The non-profit gig remains on hold.
Wells Fargo (taxable): This finished the month up 222 dollars at 14,850. The gain is 1.52% on the month and 49.07% decline year to date. This account also produces $106.25 in monthly distributions, which sweep to my checking. I’ll be looking for more Closed End Funds to buy in that account as funds are available.
Interactive Brokers (taxable): This is up 6,173 on the month to 144,091 which is good for a 4.48% monthly gain. Year to date, I am down here by 21.89%.
Interactive Brokers (tIRA): This account is up 5,563 on the month. The monthly gain is 7.99% and the year to date loss is 54.8%, driven by my 50k distribution to taxable.
Interactive Brokers (Roth): This is up 160 dollars to 6,189. The monthly gain is 2.65%, driven by a bet on NLY and the year to date loss is the 55.22%, driven by complete losses for shares held long in MRRL.
HSA: This account is up 446 on the period to 9,901. That is a move of 4.71% on the month and 4.89% gain on the year. I will have withdrawal next month for eye exam and new spectacles.
Checking: Cash is up to 13,409 from 13,021. That is a 2.98% increase from last month and 27.94% gain year to date. Monthly withdrawals from the taxable brokerage are set at 1,500 a month, my target spending.
Total investable assets come to 263,588 up 5.17% from 250,636 last month and down 150,032 year to date or 36.27%.
Don’t forget to see the long term trend at Lizard King’s Transparency Page.
Income tax: I have a 9,865 income tax prepayment asset. This is all held to offset the tax hit from my tIRA conversion to taxable. I will probably need to make some estimated payments in Q3 and Q4.
I am resuming withdrawals from my taxable investing accounts set to provide a cash income of 18,000 a year. I am going to calculate my withdrawal rate against a tightened budget of (18,000) going forward. Against a liquid net worth of 263,588 that is a withdrawal rate of 6.83%. I gained 3,314 in closed options trades during the month of May and am pacing for covering 238.07% of 18,000 from options trades. Additionally, my income centric approach to investing includes 19,333 in expected distributions, dividends, and interest for the year or an additional 107.41% of the new budget. Total budget is estimated to be covered by 345.47%. Assuming last year’s spending is necessary, I am still covered although it is unlikely I can sustain the options performance as I will eventually run out of hedges to close.
Spending was 1,744 for the month, which is above the 1,500 target. Next month has several hundred dollars of unplanned spending coming due for home/car repairs. I’m pacing 1,580/month in spending so far. I’ll need to tighten things down in Aug and Sep to make budget at year end as Nov and Dec have insurance and real estate taxes due.
I picked up 150 dollars from my efforts on the local Water Board. My side hustle brought in 386 before tax. These two items plus cash swept from taxable brokerage accounts come to $2,131 on the month. I think I can reasonably keep up a $2,000/month pace but I am trying to belt tighten a little until I can trade my way out of a hole. I am exploring employment opportunities as a contractor or as non-profit personnel. If I can make 20k in a year as a contract (easy?) that seals the deal. I prefer a non-profit even it is doesn’t pay well. I want to feel good about what I am doing.
Devour your prey raptors!