music selection:  “Bad Girl” — Trixter

Spending is still way over target.  I had a tree get partially uprooted such that it was threatening to fall on the house and needed emergency removal.   The non-profit gig remains on hold pending social distancing requirements.

ASSETS:

Wells Fargo (taxable): This finished the month down 390 dollars at 19,075.  The loss is 2.00% on the month and 34.58% decline year to date. This account also produces $141.00 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 down 12,762 on the month to 146,054 which is good for a 8.04% monthly loss.  Year to date, I am down here by 20.82%.

Interactive Brokers (tIRA): This account is down 3,968 on the month. The monthly loss is 4.71% and the year to date loss is 51.74%, driven by my 50k distribution to taxable.

Interactive Brokers (Roth): This is up 62 dollars to 6,718.  The monthly gain is 0.93%,  and the year to date loss is 51.39%, driven by complete losses for shares held long in MRRL.

HSA: This account is down 392 on the period to 10,468. That is a move of -3.61% on the month and 10.09% gain on the year.

Checking: Cash is down to 8,534 from 9,328. That is a 8.52% decrease from last month and 18.58% loss year to date. Monthly withdrawals from the taxable brokerage are set at 1,500 a month, my target spending.

Crypto: I have a small amount of BTC, ETH, and CGLD.  The CGLD is with Coinbase and the rest is with BlockFI where it earns interest in coin.  Those assets are worth $152 as of this writing.

Collectibles: I have a gold coin, 20 silver dollars and a $50 face of junk silver.  They finished the month with an estimated value of 6,247.

Total investable assets come to 277,476 down 4.09% from 289,321 last month and down 136,144 year to date or 32.92%.

Don’t forget to see the long term trend at Lizard King’s Transparency Page.

LIABILITIES:

Home: paid

Car: paid

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 Q4.

WITHDRAWAL RATE:

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 277,476 that is a withdrawal rate of 6.49%. I gained 3,709 in closed options trades during the month of September and am pacing for covering 226% of 18,000 from options trades. Additionally, my income centric approach to investing includes 12,997 in expected distributions, dividends, and interest for the year or an additional 72.21% of the new budget. Total budget is estimated to be covered by 298.08%. Assuming last year’s spending is necessary, I am still covered.  The options performance is picking up and I hope to deploy some profits into more closed end funds with yield to get my passive income back above budget.

SPENDING:

Spending was 2,709 for the month, which is well above the 1,500 target.  I had to pay the bill on car repairs, home repair, car insurance, and more  I’m pacing 1,836/month in spending so far. I’ll need to tighten things down in October to make budget at year end as Nov and Dec have insurance and real estate taxes due.

OTHER INCOME:

I picked up 150 dollars from my efforts on the local Water Board.  These two items plus cash swept from taxable brokerage accounts come to $1,779 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!

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Financial Transparency as of 30SEP2020

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One thought on “Financial Transparency as of 30SEP2020

  • October 11, 2020 at 12:18 am
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    Hang in there! 2020 is a tough year. Things will get better.

    Reply

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