About My Credit Card Debt
Newer readers may be alarmed by my high levels of credit card debt. In short, I’m borrowing money for free and keeping it in safe investments while earning me interest. This help me earn some extra income of over $1,000 a year. Recently I put up a detailed series of posts on this 0% game. You can call it stickin’ to the Man, but I just call it profitable 😉
Another solid month in the stock market led to almost a $2,000 increase in our retirement balances. In early October I shifted my portfolio around a bit by moving $10,000 into my Self-Employed 401k account. Although this has led to a decrease in my liquid non-retirement balances, our mid-term goal still remains to have enough cash to fund a downpayment on a house sometime in late 2007.
I’ve also decided that these net worth numbers are not incredibly accurate, as I’ve tried to account for income taxes as I go, but by this point in the year I know I’m probably off by a good amount. I have to estimate due to self-employment payroll taxes and also because I’m underwitholding taxes on purpose. It’ll all reconcile in early 2007.
I already confessed about my money worries a few days ago. Hmm… not much else? I should start learning more about house-buying again.