So here’s Rex, going through life. Got my job of a year and a half, my money is budgeted well, I was able to pay down my debt by last December, bella nice nice.
This past week I met with a financial advisor. Not only will he take over my Rollover IRA from my last companies, I finally signed up for my 401k at my current company and set up a Roth IRA to make contributions from my post-tax paycheck. I would save a little less from my rainy day/ vacation/ etc money but I’m behind on my retirement.
HOWEVER, just recently my company switched the payment plan from semi-monthly to bi-weekly (from 24 to 26 paychecks.) Yes, it’ll be the same at the annual level but it’s less per paycheck. Yes, I’ll eventually get two extra paychecks (I think one in June and November) but for the immediate future I’m effed.
With all of my deductions and expenses, I now have EVEN LESS for spending cash for me.
On top of that, the pay got staggered so I’m paid less one week this month. Everything got pushed back that one week and it’ll get added on the end. When I leave the job that means ill finally catch up but until then I’m out a week’s pay.
Yes, I admit I got too excited and made financial commitments without fully seeing how my new pay arrangement will affect me. That’s my bad.
So bottom line, with my new 401k and Roth IRA deductions, it’s tight. I may have to scale back my contributions. I’ll take a day or 5 to think things through.
Well, at least now I have different problems.