Life Situation: Single, 32, 0 dependents, Dallas Texas
Gross Salary/Wages: $61,990
Individual amounts of each Pre-tax deductions - Was putting in 17% pre-tax and 15% post-tax into the 401(k) / Roth 401(k), I've since dropped to 5% pre and 0% post to maximize cash each month to pay off debt, while meeting company match maximum (80% up to 5% = 4% -> 9% by investing 5%)
Other Ordinary Income: None
Qualified Dividends & Long Term Capital Gains: Don't know what these are
Rental Income, Actual Expenses, and Depreciation: None
Adjusted Gross Income: This should equal the additions and subtractions above. Current paycheck is $1,776.39 bi-weekly at the 5% = $46,186.14
Taxes: Federal, state/local, and FICA. Don't know federal, no state as I'm in Texas, don't know local.
Current expenses: Rent all in (cable, utilities, water, trash, rent) is $980-$1,000 a month. Gas is $80 a month. Car Insurance is currently $95 a month. Rental Insurance is paid in full through December 2017. Smart Phone is currently $70 a month, will drop to $45 a month in 2 months when the phone is paid off (22 months into a 24 month contract). I put $200 towards my car, $125 towards one set of loans, and $75 towards another loan. I spend typically about $50-$150 a month on fun stuff, but also have random stuff all the time like a dentist appointment tonight (probably $150 out of pocket), new clothes as I recently lost 10 pounds, $15 for a book through Church, $20 for a random happy hour with co-workers, etc. At $150 a month that's 3.9% of the $46,186.14 figure.
Assets: Toyota worth about $5,000, $3,100 in checking, 401(k) worth $42,000 split between pre and post-tax
Liabilities: Car -
Original Amount Financed
$11,250.00
Maturity Date
02/08/2018
Number of Extensions
2
Monthly Payment Amount
$196.85
Annual Percentage Rate
1.90%
Payoff info: 1,965.43
Navient 1 -
Unpaid Principal
$1,753.41
Unpaid Interest
$0.00
Current Balance
$1,753.41
Interest Rate
2.650%
Original Principal
$2,625.00
Navient 2 -
Unpaid Principal
$1,562.46
Unpaid Interest
$0.00
Current Balance
$1,562.46
Interest Rate
2.650%
Original Principal
$3,500.00
Navient 3 -
Unpaid Principal
$3,552.19
Unpaid Interest
$0.00
Current Balance
$3,552.19
Interest Rate
2.650%
Original Principal
$5,500.00
MyFedLoan - Original Balance: $5,500.00
Unpaid Interest: $0.59
Current Balance: $3,451.14
Payment Information
Monthly Payment: $54.38
Repayment Term: 111 Months
Expected Payoff Date: 05/22/2023
Due Date Information
Next Due Date: 04/22/2017
Days Delinquent: 0
Interest Rate: 3.15%
I also owe $2,000 to the IRS this year for not taking out enough each paycheck
Specific Question(s): I don't know how to handle paying off the debt, saving for retirement, getting into a home for myself, possibly not getting a home for myself but getting an investment property, and generally working towards FIRE. There's not one person on this earth who would ever want to be with me so this will be 100% solo funded / done and that won't ever change. I hate work and never want to do it again