Q1 P&L Report

Better late than never.

This post is a P&L report on my Q1 profit and “loss.” It does not include my husband’s income or spending. (We split household expenses 50/50.)

Key Notes:

  • Maxed our 401k (so overall take home higher since $19k of it was pre-tax)
  • Includes one quarter of RSU vesting (on incredible, fairly life-altering vesting schedule for 3 years if I keep my job and my company keeps performing as well as it has.)
  • I also did not pay enough tax yet but my husband’s income is much lower so it might balance it all out. Making 2x last year at least so we will at least be safe harbor tax wise. Keeping a substantial amount in cash to pay taxes next April.
  • We have about $20k in my son’s 529 plan so have delayed monthly investing more in that, and considering skipping 529 going forward as its tax benefits in CA are not that great, and just keeping my investments in taxable accounts.

Q1 Profit Analysis

Screen Shot 2019-05-25 at 9.19.31 AM Screen Shot 2019-05-25 at 9.19.24 AM

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Loss Analysis (Spending)

Notes

  • Household expenses generally split 50/50 – below notes my 50% of household spending + personal spending (i.e. 1/2 rent, food is not included here. Yes, we spend too much on food.)
  • I pay for any travel to visit my family out of my income
  • I pay $1200/month for “childcare” to my husband that he will put into a Solo 401k for his retirement (this includes that amount – since his father watches our son, I “pay” my husband 50% of what daycare would cost, plus $200 a month for doing my laundry… which hasn’t really happened yet. 🙂 )

Spending by Category

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Spending vs Saving

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Monthly P&L

  • Jan: +$29,215 (*includes annual bonus)
  • Feb: +$4,571
  • Mar: +$30,457 (*includes quarterly stock vesting)
  • Q1: +$64,243 

Screen Shot 2019-05-25 at 9.57.38 AM

As noted above, this does not include enough taxes being taken out, so my annual report will be more accurate. I am going to meet with my CPA because we now have the very nice to have problem of having no idea how much in taxes we will owe for the year, since it is all dependent on my quarterly stock vesting amounts. I can estimate but it’s really impossible to know what our stock will be doing in a week at this point, let alone December.

By tracking quarterly, I hope to achieve my goal of $1M in networth by 2020.

Networth Report ($833,655 Q1)

Screen Shot 2019-05-25 at 10.09.12 AM

Target networth rest of year:

Q2: $850,000
Q3: $875,000
Q4: $900,000
2020: $1M Year!!!

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