The proverbial umbilical cord

I’m not scared to admit my umbilical cord has not been fully cut. Now don’t be confused. I’m in no way financially dependent upon my parents. I can support myself, but there is definitely comfort in knowing my family will always have my back. I like my parents a lot, and I’m pretty sure they at least kind of like me too. You do like me mom… right?!

My parents are pretty generous folks and they still like to “spoil” me occasionally. Sometimes I feel a sense of bitterness from my peers when I mention my mom will give me money to put towards my student loan. Look I understand, you think I’m a spoiled brat who never has to work for anything. Spare me your jealousy. Is there really something wrong with letting my parents (who are in a way better financial position than myself) help me out from time to time? Should I be prideful and refuse any help or support from them? If you’re too macho to accept generosity, good for you. That’s not the way I roll. I’m a momma’s boy for life.

I’ve mentioned in past posts, Mom Ninja occasionally surprises me with a couple hundred dollar deposit in to my checking account. This money is only to be used towards my student loan. Does my mom have to give me the money for the loan? No. Have I ever asked her “Hey mom can I have some money to pay down my debt?” No. She does it because she is weird loves me, and is in a position where she can help me.

Not only do the parental units hook me up with the occasional b*tch slap to Sallie Mae, but sometimes they just like to give me a random gift. A few years ago I came home to a package from UPS. “Funny” I thought to myself. I didn’t order anything, did I? Open it up and blammo, a brand spankin’ new iPod touch from the rents. Or just this last weekend I got a picture text message of a pair of shoes mom ninja wanted to know if she could get for me (she knows I have a shoe fetish). The random gifts really make my day. It may sound petty, but getting gifts for absolutely no reason at all, really makes me feel loved. Does that make me materilistic or shallow?

More important than any tangible gift they could give, I most appreciate their support. I know they will always be my cheerleaders. They want to see me achieve my goals. They have spent a great deal of their love, money, and time on my personal development. The least I could do is try and make them proud, right? After all, I don’t want to be the worst investment they’ve ever made.

Yes, the umbilical still remains, but I don’t think that is necessarily a bad thing. If I was begging for mom to bail me out of jail, stealing money from their bank account, or was mooching off them in any capacity, it would be a different story. Thankfully, my parents raised me better than that.

So bloggers, do you still have an imaginary umbilical cord linking you to your parents? Do they help you out financially from time to time?  Do you ever feel like some people think you are spoiled or maybe even babied? If you completely cut the cord, at what age did you do so and why?

Net Worth: February 2010

I would like to officially welcome my Net Worth to 2010. I have some ground rules for the NW for the remaining 11 months…GO UP!!!! It’s all about growth baby, not to be consfused with “growing babies” (baby ninja’s aren’t coming till 2050). Let’s see how I’ve done…

Checking Account(s): $1,877, -$2,483. My checking accounts (INGdirect and Chase) took a hit over the last month, but for good reason: I transferred a couple thousand dollars in to my online savings account. You’ll see that growth in the next category.

Savings Account: $21,065, +$3,340. I have officially broken $20,000 in my online savings and it feels good. If you are wondering why I haven’t just paid my student loan off it’s for a few reasons. 1) I’ve got a wedding pending and don’t know how much to plan for my wedding expenses (i.e. gifts, honeymoon, etc). 2) Girl Ninja and I have many unknowns ahead of us, and having extra cash on hand helps calm us mentally. 3) Because it’s my blog and I can do what I want 🙂

Roth IRA: $13,368 -$387. I don’t like it when the stock market goes down, but I guess it has to happen from time to time. Oh well, glad it was only a few hundred dollars of money I wont touch till I’m old anyways.

TSP (401K): $11,759, +$118. Five percent of each paycheck makes its way in to this account, which get’s fully matched. I invest in very similar funds in both my Roth IRA and 401K. I use to contribute 8%, but after some thought, I decided to reduce down to 5% this year.

Student Loan: -$16,003, +$190. Oh Sallie Mae, how much I loathe thee, yet I still keep you around. I find comfort knowing I could rid myself of you at any moment. Don’t get too comfortable, you won’t be sticking around that long.

That put’s me at a net worth of….drumroll please….. $30,234!!! I’m up $1,441 from last month, which means I have officially joined the $30,000 club (if such a club exists). I can’t wait for this month to be over, because I will be seeing a $12,000/yr raise coming my way in early March, it should work out to about $700 extra each month that will go straight towards increasing my NW. Thanks for poking in ya’ll and I’ll be seeing ya tomorrow!

If you have wondered why the blue bar (debt) in the graph sometimes increases, it’s because my credit card balance gets taken in to account each month. Even though I pay the balance in full it still appears as a “liability” in Quicken. I just deduct this from my checking account balance to give myself an accurate net worth reading. This is why my total increase, may not always necessarily match with the total of each category, but I promise the overall total is REAL. I choose not to include my car in my NW calculations, which would probably increase my worth by about $8K.

Male = Income, Woman = Kitchen

I approximate mine and Girl Ninja’s combined income will be between $80,000 and $100,000 per year when we get hitched in August. At that point I will have just turned 25 and she will be 23. We will barely be in our mid twenties and could be potentially earning a six-figure income. That makes me very, very, very excited.

As we begin to plan out the rest of our lives, we have started discussing what we want our family model to look like. While I would like to explore the idea of adopting a 30 year old millionaire, Girl Ninja is really set on having babies of our own (I know selfish, right?). Kids come with a good deal of responsibility (so I hear). Neither of us are big fans of the idea of childcare, so one of us will be a stay at home parent… and by one of us I mean Girl Ninja will be 🙂

We were both raised in households in which Dad worked hard and made a decent income and Mom was able to stay at home and watch Oprah and do pilates (that’s all stay-at-home mom’s do, right?). Both of our mother’s did, however, begin working at least part time once the kids were old enough to go school. Girl Ninja and I have begun mapping out what we think would be the best for our particular situation and here is what we have come up with thus far…

  • Begin exploring the option of baby ninjas after two years of newlywed bliss. (yay newlyweds)
  • As Baby Ninja #1 comes along, the wifey will quit her job as a teacher and become a full time stay-at-home mom.(yay babies)
  • Our income will take an immediate $40,000 a year hit (boo loss of income)
  • Babies our expensive!!! (boo increase in cost of living)
  • As Baby Ninja #17 finally enters kindergarten, we will begin to explore GN going back to work (yay possible income boost!)

Girl Ninja totally wants to be a full time mom, and I am in full support of that decision. I’d be lying if I said having a loss of income, and a rise of expenses didn’t stress me out, but at the end of the day I think all will be okay. We want a very traditional, cookie cutter, leave it to beaver type household. Man works and builds things, woman makes dinner and cares for children.

I know in today’s culture, many woman have little or no desire to be a stay at home mom. They want to work just as hard (if not harder) than their male counterparts. That’s just not how Girl Ninja and I were raised, and not how we envision our family. So now I turn the soapbox over to you and ask what was your parents family model when you were growing up? If you’re married, What does your household look like? If you aren’t married, what do you envision for your future? For those of you that have a parent stay at home, was it hard to adjust to the lost income? For those that both parents stay working, was it hard to put your child in prison daycare? As always, any help/advice/insight is GREATLY appreciated.

p.s. whoever said all babies are cute, lied, as evidenced by the following picture…