May 2010 Investment Comparison Report (-.36%)

Jun 22, 2010 @ 08:35 am by EMS

Our Roth IRAs lost 8.21% over the month of May, which lagged our comparison index by .36%.  May was the first month that we trailed VTI by less than one percent.

We are again actively contributing to our Roth IRAs and will likely be making some stock purchases again in July.

May 2010 Net Worth Report (-8,150)

Jun 01, 2010 @ 02:51 pm by EMS

With the stock market tanking 8% in May, our net worth fell an appropriate amount.  All of this month’s losses were in our portfolio, as we actually lowered our debt by paying off the large credit card purchases from April.

We have also entered the phase of our savings plan in which we will contribute 15% of my salary to our Roth IRAs as well as begin making regular contributions to our childrens’ education funds.  I’ve taken the first step of opening Coverdell IRAs for each of our 3 children.  Our goal is to save $150 monthly for each child in these accounts.

Unfortunately, there is some bad news on the financial horizon.  Last summer, we were informed that we are required by township ordinance to connect our house to a new extension of the city’s water line.  The cost of just the “tap in” fee is going to be around $2,500.  I had budgeted and saved for this amount last year.  In addition, I had saved about $800 earmarked for the cost of having a plumber come in and connect our house to the water line.  In April, we received a second letter informing us that the township is ready to make the water connection and that we should begin making plans to connect with the water main.  I’ve brought in two plumbing companies to give me a quote, and have received the first quote at a whopping $2,200!  I’m hoping the second quote is much lower, but I suspect it is still going to be well above my initial $800 estimate.  As such, I’m going to hold off on this project as long as I can before the township starts to come down on us.  We really don’t need the water connection, as our well water is just fine and suffice to say, I’m not happy about being mandated to purchase this non essential service.

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