networth iq update for September and review of networth IQ

October has been a crazy month - so much travel, new baby, new job - lots of life changes.
I've finally had a chance to fill in my networth IQ update. You can see it here.

The new networth IQ website is cleaner and a bit nicer. Unfortunately, it's still very basic.

All you can really do is track your networth and compare it to others. There is something positive about simplicity. However, with the data they have, they really could offer more.

A few quick criticisms:

1. The graph is poorly done. It should have legends and be much more legible.
2. It's impossible to find the logon link in the new site (hint look for the 6 point type in the upper right corner).
3. Navigation, overall, is weak.

Some quick thoughts on our family's finances through year end.

The upcoming quarter will be very dynamic.

Here are some of the major changes, expenses and income:

1. new baby
2. wife on maternity leave for 3 months - partial pay coverage
3. delivery expenses >$2k
4. my new job with Big Company. Starts mid-Nov. Will have some time without pay, but eventually $150k pay increase. Most of initial pay checks will go to 401k for 2006.
5. travel expenses to house shop and find job for wife near my new job
6. holiday expenses
7. financial advisor fees
8. expected liquidation of insurance investments
9. family vacations before i start new job and wife returns to work

Overall - assuming 0% change in investments - October should see a climb in networth due to continued pay checks (maybe $15-$20k). November and December will possibly see $5k drops in networth each, but could be offset and exceeded by 401k contributions.

The biggest mystery expense will be family transportation and housing during my wife's house and job search in November. These could easily cost about $5k (airline tickets and lodging). If it's only $5k, our family networth would end the year at approximately October's networth. If they exceed $5k, we'll end the year somewhere between September's and Octobers.

Next year's thoughts:

1. We will be in a strong financial growth position. We should be able to increase networth by another $100k - very dependent upon relocation issues.
2. We will move - most of the expense will be covered.
3. We will buy a new house - figure $5k in closing fees and $25k in new home expeneses (repairs, improvements, window treatments, furniture, etc...).
4. My wife will have a gap in income fo 30-60 days.
5. My wife will probably have a drop in income, but my gains, should offset it. Our aggregate annualized income by Dec 2007 should be up $100k.
6. We will have expenses related to selling our current house - and may have two mortgages for 2-3 months.
7. Move logistics will be very chaotic.
8. Our new investment plan will have been implemented
9. Our insurance investments should have been liquidated
10. Our living expense profile will change from rural to suburban

Have a wonderful day,

makingourway

Question, does anyone know how state income tax is handled if you live in one state and work in another?