Dad's Back In The Hospital

My dad was rushed to the ER with breathing problems, low O2, and an unsteady (too low then too high then too low) heart rate today. I have a feeling I'll be flying back to the US just weeks after returning to NZ...

I've started looking at flights. They're pretty spendy, with one ways over $1100 NZD. I don't know when I'd come back, so I dare not pick a return flight yet.

We had a pretty good Christmas, so that's something to hold onto, but my anxiety is through the roof right now. I'm behind on all of my work and just couldn't concentrate today.

ETA: Feb 15: He's back home! And is getting to feel like his old self. Whew. Another bullet dodged.

Jan 2024 Net Worth & Savings Review

January was great, in that I barely spent any money or went anywhere, had both my salary and stipend coming in (plus moneys owed from October), and was motivated to work on my PhD so was very busy and staying at home!

Cash & Savings: $104,400 NZD

With all of that in play, I was able to save over $1250 this month to savings, and opened up a new 1-year 6.3% p.a. CD. My CD ladder is coming together nicely and is now as follows: 

1 year CD at 6.25% - 1 Oct 2024	$10,000
1 year CD at 6.3% - 5 Nov 2024	$10,000
1 year CD at 6.3% - 5 Dec 2024	$5,000
1 year CD at 6.3% - 2 Jan 2025	$5,000
1 year CD at 6.3% - 3 Feb 2025	$5,000

They start maturing next October, with the $10K CDs yielding ~$500 and the $5K ones ~$250, after taxes are taken out. Rates are at 6.3% p.a. right now, and as long as they continue to be relatively high, I'll keep making more CDs! I was hoping they'd hit 7 - 8+% again, like they did when I first moved to NZ in 2008. At that point I'll put everything I can into one!! However, I expect rates will go down again relatively soon, knowing MY luck. Til then, I'm taking advantage of it.

Other savings and investments: 

$28,544.97 at 4.25% p.a. - earmarked for CDs and US investments when the exchange rate becomes more favorable

$32,712.18 at 5.25% p.a. - $15,800 is earmarked to stay liquid (EF and US trip spending this year), I'm aiming to put the rest in CDs and US investments when the exchange rate becomes more favorable

$8,669.99 in Lending Crowd. This is the amount still invested and owed back to me, plus interest. I've been getting payments nearing $100 every week now.

This totals $104,400. This money is all for short-, medium-, and long-term goals: 

Short-Term Funds

$10K Emergency Fund

$5K 2024 US trip

$500 Sanity Fund - just in case I start to lose my mind from my PhD and need a treat/break

$300 Annual Insurance Fund - guess I'll need to increase this now that the premiums have shot to > $400!

Medium-Term Funds

$13K Post-Phd Travel Fund: Iceland, Hawai'i, visit US friends and family, Europe?

$5K PhD Thesis Post-Submission Travel Fund: Auckland staycation, Bay of Islands/Northland trip or skiing depending on the time of year, or Rarotonga

$10K Post-PhD Defense Life. Will I need to move? Just in case.

$5K Post-PhD Defense Hobby Fund. I have lots of plans for when I have actual, real time again! (therapy, photography, jewelry making, dance, pilates/gym, physio, dermo, toastmasters, interior design, watercolor, drawing, etc)

Long-Term Funds

$55.6K House Down Payment Fund. I'm aiming for a $160K down payment. I'm ~35% of the way there! (See Savings Plans, below.)

Investments & Retirement: $48,217.39 USD and $88,630.34 NZD

Speaking of long-term goals and funds, some additional money is invested in stocks, mostly in retirement funds. 

USA

In the US, I have a Roth IRA, a Traditional IRA, and a non-retirement brokerage account. Due to US laws, I can only invest in my non-retirement brokerage account from NZ. I add $50 to the non-retirement account every month. Total: $48,217.39 USD

Roth: $12,845.99

Traditional: $24,042.40

non-retirement: $11,329

At age 65, with a $50/mo contribution, and a 7% compounding interest rate, that'll be about $200K USD in 20 years.

Compound Interest Calculator

NZ

In NZ, I have a Kiwisaver account, with 3% of my salary being invested every paycheck with a 3% match (minus taxes that the employer takes out to pay the government, so it is much less than 3%). This is about $100 every month (I don't make a lot): $88,630.34.

At age 65, with a $100/mo contribution, and a 7% compounding interest rate, that'll be about $400K USD in 20 years. Compound Interest Calculator

With any luck, a 4% withdrawal rate from the above accounts will yield ~$2.4K NZD/mo in retirement. That's not too far from my $3K/mo goal (I'm ignoring inflation for now, I know, I know). With my $104K savings, I'm calling it even. Everything more I save and invest will increase the likelihood I can meet that $3K/mo goal in retirement.

Ongoing Savings & Goals

With that said, here are my goals in progress and current state of mind:

All of my funds for my short- and medium-term goals are complete now. I can't think of anything else that I'd want to save for at the minute. Travel, hobbies, life, house, retirement...I've done as much as I can to plan, given my low salary and PhD status. Post-PhD and hopefully an increase in salary, I'll review it all. 

As for long-term goals, there's always more to do!

Savings Plans: Goals In Progress

I've detailed my current long-term goals here. Basically, my strategy is to break my long-term goals into many, many short-term goals. 

For example, saving in $1.6K chunks for my $160K house down payment fund will get me 1% further to my goal. I've now completed the first of these goals. I have 65 more of those $1.6K house down payment chunks to go. Strangely, this feels doable! The first chunk goal was SO EASY to complete that I feel like I need to make it more difficult. 

For my next trick, I will save 2% more towards my House Down Payment Fund in one go! $3.2K is my next goal.

As for my other long-term goal described here, my original plan was to eventually be invested in US dividend-bearing funds to supplement my income, but upon further reflection, I'm not liking this strategy. Firstly, NZ taxes overseas dividends but not overseas stock capital gains. I'd get double-taxed on any dividends coming in. Secondly, I'd need $1.2M(!) to supply a $3K/mo at a 3% dividend yield. To supply even just $1K/mo, that'd be $400K. For $100/mo, that's $40,000 ($1200/year divided by 0.03).

I'm losing my mojo to save for this goal. I think I can do more with that money and feel better about saving for something else. I've moved the $4K I originally saved for this goal to my House Down Payment Fund. 

Honestly, with my income and intentions for my career (only work up to 0.8 FTE, never full time) and my potential to get a partner (nil to 0 chance), I will never qualify for a mortgage. Especially as I get older. So...the house down payment fund is kind of a ruse, a trick, a pie in the sky goal that I don't actually think will happen. However, I need something to hope for and save up for, or else I will lose my motivation to save. So, here it is.

Jan 2024 $$ & Life Update

Well well well...I never know how to start my blogs. I tend to just LAUNCH into whatever topic and thinking motivated me to log into Blogger. I just want to get to the point!

Turns out I do this while writing up my PhD as well! That is the #1 comment my supervisor has made on the discussion points for my First FULL DRAFT of my FIRST PAPER of my PhD!!! (huzzah!)

I'd already noticed it with writing emails - I hate the whole small talk / greeting formalities. I just want to ask my question or state my purpose and hit 'Send.'

Another way that my ADHD affects my life...

Life Update: All PhD, All the Time

Anyway. January was a lovely month, once I arrived back in NZ on the 9th. It's so waaaarm here (not swelteringly hot like the locals would tell ya), at ~75 - 80 F degrees. It's really lovely. My body is happiest at these temperatures, or maybe a teensy bit warmer? I love beach weather.

Since arriving back, I haven't missed one day of work, which is amazing considering where I was at before going to the US. I'm also waking up relatively early every day (well before noon), which is new for me as well. I don't know what is going on, but I'm rolling with it, and trying to take advantage of my motivation and early rising as much as possible without burning myself out. 

I still haven't talked to my co-supervisor (the bad one). That is definitely part of this motivation kick. He hasn't even opened my first manuscript draft to give me comments. I just know that as soon as we meet it'll be discouragement and a lot of negativity, so I'm not pushing it. However, I am continuing to send him reminders about my manuscript and the deadlines I need to hit in order to stay on track to submit my PhD thesis on time, so I'm doing my part. His absence is on him.

Speaking of 'on time,' I've applied for a PhD extension. My stipend will run out end June, but if my extension is approved, my official submission deadline will be end Feb 2025. I'm really hoping I can submit sooner than that. 

Another part of this motivation (in addition to sunny, warm weather, my co-supervisor's absence, and not being at home where everything is so stressful and busy) is that I haven't seen anyone. The friends I usually have weekly meet ups with are all out of town. I did host one friend at my house this past weekend after weeks of trying to nail down her schedule, and it was fun but went on for way too long. She was there for 8 hours and just wouldn't leave my house despite all of my hints! And I've lied to a good friend who is visiting NZ from overseas with her new baby and partner, saying I thought I'd still be in the US during her visit. That's really weird for me - I have not seen her since 2017 and love her so much! Why don't I want to hang out with my friends right now?? I dunno. I think I've become such a homebody and introvert now that I (dare I say it) am happiest and most productive alone, and am also deathly scared of disrupting my progress and motivation kick right now. I may never get it back...that's how ADHD works for me. 

So, friends are huge distractions at the moment. I think I'm going to be really frustrated with the whole rigamarole around keeping in touch with friends and their expectations to meet up regularly and on a schedule until I finish my PhD. At least for now, that is my mindset. Too bad, because all those friends who are out of town right now? They ALL arrive back this weekend. I'm dreading it. Again - very weird because they are so lovely and kind and fun, but that's where I'm at right now - all PhD, all the time.

And now for the $$ Update: 

Because of the recent changes to my usual routine, the only place I've really gone since arriving back to NZ is the grocery store and I walk there and back or take an e-scooter. I also went to my doctor and had a blood test and walked to and from the beach one day, but other than that, I've done absolutely nothing. I haven't even gotten take out once! Who am I even?!

That said, this was still a relatively expensive month. My contents insurance was due and the premiums have shot way up for everyone because of inflation, etc. That was over $400!

Also, I opted in for an HPV shot series. I've wanted to get it since it came out while I was living in southern Cali, but I just kept on missing the maximum age cut off since then. They've now extended the age range for eligibility in NZ, and I'm riiight at the cusp at 45. However, they don't fund it past age 26 or something, so I have to pay out of pocket, and it is $290 per shot for a 3 part shot series over 6 months. Cancer runs in my family so I want to try to protect myself as much as possible from it. 

Income: $3,792.66  

I have my PhD stipend reinstated, as well as getting paid from a missed paycheck last October when they cut my stipend off. 

 

Groceries were way over my $500/mo budget, but I didn't get take out, so I considered the $150 I budgeted for Eating Out transferred to Groceries. 

Power + Internet were lower because it's summer and I'm now splitting the bill 3 ways with my 2 flatmates instead of one other person now. 

Medical is way over - $280 for my HPV shot and $80 for my GP visit. That should even out going forward. My next expected medical bill is in March when I get my ADHD meds and thyroid meds 3 mo prescription refill, but that should only be $30. The next medical expense after that should be my dentist appointment, and will be a doozy ($300 or so?). 

I also had my ADHD psych review this month, but paid for it in December when the invoice came in: $290 for that appointment! 

Misc is mainly taken up by my contents insurance and transportation: $412.85 for 1 year of contents insurance, and $37.25 for all of the e-scooters I took to various places (mainly getting home from the grocery store with heavy loads). 

Savings: In addition to the regular $50 I auto-transfer to savings each month to get the best interest rate on one of my accounts, I've now transferred $1255.45 to my savings account, and opened up a new $5K 1-year CD at 6.3%. 

In my next post, I'll review my Net Worth and overall savings, and then review my financial goals.