There’s been money talk all week with the car buying game kicking into full swing! I got paid and we also got the corporate refund from the IRS, which buffed up our cash balance quite a bit. Also paid 575 to the credit card to zero it out for the week.
I need to talk to the accountant to figure out if the business tax refund is pre or post tax money, then I’ll transfer the appropriate amount.
Car Fund: 9,583 (+0)
Cash: 17,209 (+3,550)
Her HSA: 1,232
His HSA: 1,160
Business Checking: 2,957
Boy oh boy what a doozie of a week! The yield curve is falling! The yield curve is falling!
The week started out with the Federal Reserve canceling all interest rate hikes for the rest of the year. That left everyone scratching their heads wondering why if the economy is slowing but still going okay, and unemployment is still near record lows, why are we not continuing to raise rates?
Well let me tell you. The federal reserves mandate is to target 2% inflation and maximum employment. That’s all it’s supposed to really care about. Well it’s failed to meet its 2% target and raising rates will only hurt that more. And inflation is mostly stagnant because the rest of the world has been in the pooper.
So no more interest rate hikes huh? Well then the market was like Yay! But then came the old 10yr yield curve saying “I don’t feel so good”, and dropped to its knees falling under the 3yr curve. Which essentially means “we think the US will do worse over the next 10 years vs 3 years”.
Well then everyone screamed recession at the top of their lungs like the word is kin to having your arm chopped off by and old jedi in the cantina. And the market dropped leaving us with a whopping -0.83% weekly return. The news reaction to such a small drop is hilarious. It’s normal people!
Portfolio: 101,230 (+1,301)
His 401k: 59,023
Her 401k: 28,770
SEP IRA: 8,851
Money Market: 4,585
Debt is at $-1 but potentially not for long!
Expenses were at normal levels, just a little higher on the entertainment category with top golf and going to the movies. Personal care as well with my haircut and restocking some products for the wife.
– Paycheck: 1,963
– Baking: 10
– Selling Golf Clubs: 20
– Tax Refund: 2,225
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One more check from the IRS still floating out there, and potentially a whopping big purchase today!