2017 Financial Review

My net worth increased by 112K to 214K in the past year, I personally contributed 64K (after 5K excess contribution withdrawal) and the rest was company match and investment gains. Here’s how my investments have changed between the December 2016 and December 2017 entries:

  • Stocks (Brokerages + ESPP proceeds): 20K original amount, +65K change
    • +35K personal savings
    • +16K ESPP contributions for three quarters
    • +14K gains
  • Retirement (Roth 401K + Roth IRA): 75K original amount, +46K change
    • +18K my contributions
    • +8K company contributions
    • -5K excess contribution and earnings distributed from Roth IRA because I contributed too much for my income level in 2016
    • +15K gains
  • Car Loan: -4K
  • Everything else: Stay the same, within $3K of current levels

I don’t really plan out how much of my savings I invest, it just ended up being 35K in 2017. Here’s what I know will get added in 2018 assuming I stay at my job (I plan to):

  • Stocks
    • +22K ESPP contributions for four quarters
    • +119K current value of RSUs which will vest in 2018
  • Retirement
    • +18K my contributions
    • +9K company contributions
  • Everything else: Stay the same, within $3K of current levels

Transitioning to a new company

The new job is going well. I feel so much more welcomed on my new team than I was at my previous job. We had a sendoff at a nearby restaurant this evening for a teammate who’s moving to Seattle. I felt so welcome even though I only knew a few people going in. I’m also much faster picking up the new stuff I’m working on so I feel more accomplished all of a sudden. My manager sits next to me now so I am able to get immediate feedback about my work. I hardly saw my manager at my previous company. I’m glad I switched jobs.

Money-wise I have waaay more cash but that’s expected. I got my Roth IRA distribution checks (they got split into contributions and earnings). This means I can file my taxes now. I’m about done with federal taxes but haven’t looked into doing California state taxes yet. I’m fairly certain I owe federal taxes, I’ll need some cash for that. I did buy a microwave and might buy a desk this week, we shall see.

I got my first paycheck from the new job and I also got a sign on bonus. I set up very sizable paycheck deductions to the new company’s Roth 401k and their employee stock plan so I will be living off my cash stockpile for a while. I’ve never had a stock plan before. My company gives a 10% discount on the stock’s closing value at the end of each quarter. My 401k is fancier as well; my new company gives double the match that my previous company gave. It allows pre-tax, Roth, and after-tax contributions as well as automatic in service distributions of after-tax money.

I want to transfer my previous 401k so I currently have two checks totaling 55k on my bedroom floor (they got split into pre-tax and Roth). I will send them to the new plan administrator next. I’m also really proud of myself for setting up an auto-transfer into my brokerage account every two weeks. This too will draw on my cash reserves.

Monthly Networthshare Entry: https://www.networthshare.com/user/labangel/2017/03