2009 May | No Credit Needed

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Archive for May, 2009

Current Retirement Asset Class Allocation

May 9th, 2009

NCN

Here’s a look at our current retirement investment portfolio. These numbers are current as of today. This breakdown does not include my wife’s pension plan, nor does it include money invested for college education savings. We use four accounts to save for retirement (in addition to my wife’s pension). My 403(b), my Roth IRA, my wife’s Roth IRA, and a SEP IRA for business income investing.

Our current retirement investement allocation.

Large Cap / Total US Market = 46%

Mid Cap / Small Cap = 34%

International = 17%

Cash / Bonds = 2%

The majority of the large cap / total US market stocks are held in Vanguard’s VTI ETF – which tracks the broader US market. The majority of mid / small cap stocks are held in my 403(b) via a REIT. All of the international stocks are held in a fund with my 403(b). I recently made a change to my future contributions, so the amount held in cash / bonds should increase, as a percentage of the portfolio, over time.

One of my goals for 2009 is to fully-fund my 403(b) ($16,500). I also hope to fully-fund my Roth IRA ($5,000) and my wife’s Roth IRA ($5,000).

This is my personal portfolio, constructed after doing my own research and according to my own risk tolerance. I may even change it in the future. It is not a recommendation to purchase any specific securities. I am not a financial professional or investment adviser, nor do I play one on the web.

Posted in 2009 Goals, Investing, Retirement

5 Comments »

Some More No Credit Needed

May 9th, 2009

NCN

After a long conversation with my wife, she has encouraged me to continue writing here at No Credit Needed. She knows how important the site is to me. So, please disregard the previous post, where I declared that I would no longer be writing articles for No Credit Needed.

I want to thank those who left comments and sent emails. My wife and I were touched by your kind words. No Credit Needed is more than just a site, it is an experiment – to see if we can live without borrowing money. I want to thank those of you who have supported the site, and with the support of my awesome wife, I am happy to say that I the site, and the experiment, will continue.

-NCN

Posted in NCN News

14 Comments »

No More No Credit Needed

May 9th, 2009

NCN

Edit -

At the request of my wonderful wife, I have decided to CONTINUE to post new articles here at No Credit Needed. She insisted, especially after reading several of the kind emails and comments. I have decided, however, to stop producing new content for several other sites, so that I can focus my attention here.

Original Post -

I have come to difficult decision. I have decided to stop publishing new articles here at No Credit Needed.

The past four years, I have enjoyed getting to know you, my awesome readers, and I want to thank you for sharing my journey with me. My family and I have been blessed, as many of you have encouraged us, inspired us, congratulated us, and motivated us. I want to thank you for reading the articles I have written, and I hope that even a small percentage of them have been valuable to you.

To my fellow bloggers, I want to thank you for linking to my site, promoting my articles, and joining me in this journey. I now count many of you as my dear friends. I will continue to visit your sites, and I will always appreciate your hard work.

My decision to stop writing is not an easy one, but I think that it is the right decision, for me and for my family. My life is full.

Again, I want to thank each of you. I cannot overstate how important this site – and its readers – have been to me.

You guys rock.

-NCN

Edit -

At the request of my wonderful wife, I have decided to CONTINUE to post new articles here at No Credit Needed. She insisted, especially after reading several of the kind emails and comments. I have decided, however, to stop producing new content for several other sites, so that I can focus my attention here.

Posted in NCN News

18 Comments »

Great News – My Parents Are Debt Free!

May 7th, 2009

NCN

I have some awesome news that I want to share with you guys.

My parents are debt free!

I just got off the phone with my Dad, and he was so excited. For more than two years, my Dad has been focused on paying off his mortgage. Month after month, he made his regular payments, and then used every, extra available dollar to reduce his principal. Today, he was able to walk into his credit union, hand them a check, and pay off his mortgage!

I cannot explain to you how happy I am for my Mom and my Dad. I asked Dad for permission to write a bit about their story, and he was happy to share with you guys. Basically, after reading some of the articles here at No Credit Needed, Dad decided to get out of debt and pay off his mortgage. After just a few months, he was able to rid himself of his consumer debt, and then he began to focus on ridding himself of a mortgage payment. Through hard work, sacrifice, and determination, he paid off a 15 year note in less than 7 years, with the majority of the payments coming in the past 2 years! How cool is that?!?

I love it when I hear about people who are debt free, even people that I don’t know. Can you imagine how cool it is for me to hear that my parents are debt free? I’m very close to my Mom and my Dad and I can’t wait to see what their debt free future holds for them.

For those thinking about debt reduction, consider reading – Debt Reduction 101 – and begin your journey towards being debt free.

Mom and Dad – you rock!

Posted in Debt Free, Debt Reduction, Family

13 Comments »

Roth IRA Deposit Gone Awry

May 6th, 2009

NCN

I have just gotten off of the phone after the better part of an hour. I can’t be sure, but I think I’ve fixed a problem, that until today, I never knew existed.

The background -

I have a Roth IRA. My wife has a Roth IRA. One of my goals for 2009, is to fully-fund both Roth IRAs. We have a joint checking account. From time to time, I will send a payment (deposit) from our checking account to the brokerage where we have our Roth IRAs. Clear enough? Good.

The problem -

Last week, I logged in to my checking account, and initiated two payments (deposits), one for my Roth, one for my wife’s Roth.

Today, when checking on the status of said payments, I was shocked to find that the deposit intended for my wife’s Roth IRA was rejected.

Apparently, when my bank sends a payment to another company, the only name on the payment check is my name, even though the checking account is a joint account. Well, when the brokerage received the payment, and noticed that my wife’s name was not on the check, they rejected the check, because they do not accept third-party payments.

The solution -

I called my brokerage, and they suggested that I send a copy of a recent bank statement, along with my wife’s name and account information, showing that she is, indeed, a joint holder of the checking account. This sounded like a lot of work, and I’m just not in the mood for a lot of work.

I then called my bank, pressed zero fifty times, talked to a very nice CSR, and had him add my wife’s name to all future online bill payment checks. Problem, hopefully, solved.

I also canceled the payment to the brokerage, the one for my wife’s Roth IRA. Once the money, which has already been deducted from my checking account, is safely back in the account, I’ll initiate another payment. Hopefully, this one will have my wife’s name on it, and all will go smoothly.

Posted in Banking, Investing, Retirement

5 Comments »