August 2016 Net Worth Update (+$27,077)




Highlights for August

  • Our net worth hit $1.5M for the first time in August. It took 43 months to growth $500,000 since January 2013 when our net worth first crossed $1M to get here.
  • I signed up for a US Bank Business Edge credit card offer I received in the mail in August. The card offered a $500 bonus after spending $4,500 in the first 90 days.
  • I had business trips to both Mexico and China this month. I miss the days when I came out ahead on business trips, but these days my expenses run higher with business travel so I am not as nearly excited about the travel.
  • Our net worth in August had a nice pop driven significantly by our large investment holding in Genworth Financial as its our 2nd largest individual stock holding. The very volatile stock nearly doubled in the month of August alone. We have also seen the stock fall by nearly 1/2 in previous months so we will see if the momentum continues.


July 2016 Net Worth Update (+$33,703)




Highlights for July

  • July was a much quieter month for us as we returned from our overseas trip from Vienna early in the month and stayed home for the rest of the month.
  • After turning the keys over in June on our 3rd rental property, our new property manager found a tenant after about 5 weeks. We are off to a slow start, but we'll see how it goes as I've heard that is atypical performance for this property manager. On the plus side I am warming up to the idea of getting hands off with the property management and reducing my workload.
  • Our net worth had a nice bounce this month as we closed in on hitting $1.5M net worth thanks in large part to a nice uptick in stock market valuations.


June 2016 Net Worth update (+7,831)




Highlights for June

  • June has been a busy month for us, a Carpe Diem kind of month to me. Overall spending has been up as we try to make the most of summer.
  • I handed the keys over to a property manager on June 6th for one of our recently vacated rental properties.We will see how long it takes to get up and running. Im hoping in 3-4 weeks it will be rented and income flowing. For now we are going to be taking an upfront income hit in June/July as we transition.
  • Our annual corporate bonuses were paid out in June which helped with some of our cash growth.
  • In the beginning of June I took the family on a weekend road trip to visit my alma mater (VA Tech) using some hotel points. Family had a good time hiking to a local waterfall and enjoying some of the local college dives.
  • I spent the last 2 weeks of June on a business trip in Europe and flew my wife out on airline miles to meet me at the end of the trip to spend 5 days in Vienna, Austria. My in-laws have agreed to watch our kids while we are away which has been an amazing gift for us. I was hoping Brexit might have helped us more, but its still not inexpensive in Vienna. Overall we have had a great trip and would love to go back sometime.


May 2016 Net Worth Update (+$12,330)




Highlights for May

  • One of my rental properties lease is ending and the tenants are vacating in June. I've wrestled with using a property manager in the past, but have a hard time justify it given the cost. We'll this time I am going to bite the bullet. The tenants were hard on the house and it needs some serious work to fix up for a re-rent. I don't have the time to manage flipping this rental and everything else so Im going to try out a property manager to see if I can buy back some of my time. If its a positive experience then I might expand to the other properties.
  • Our properties are listed on our balance sheet based on their cost basis, not current market value. We have done this during the the real estate market highs and lows. I believe real estate is too illiquid to list based on recent sale transactions.
  • I received a small corporate award at work this month that helped boost our cash growth.
  • Im planning a 2 week business trip back to Europe in June and we are discussing cashing in some airline miles to fly my wife out there for a few days at the end of my trip.


April 2016 Net Worth (+$19,978)




Highlights for April

  • Things settled down in April - not too much activity in the markets, not too many highlights at home.
  • Our properties are listed on our balance sheet based on their cost basis, not current market value. We have done this during the the real estate market highs and lows. I believe real estate is too illiquid to list based on recent sale transactions.
  • I had a quick business trip to Europe this month for 3 days, but other than that no business travel in April! Things are slowing down for at least a bit at work.
  • My wife and I started exploring the possibility of renting a house in Europe/France for a month for our summer vacation, but couldn't quite get organized enough to finalize plans. We've decided to shelve the idea for now and expect to have a slow summer with maybe a couple small trips nearby.
  • I upped our monthly 529 contributions slightly to now $300/mo which are not reflected on our balance sheet.


Last 15 Personal Finance Entries


05/08/2016 | March 2016 Net Worth (+$62,928)
05/08/2016 | February 2016 Net Worth (+$21,570)
02/14/2016 | January 2016 Net Worth (-$63,181)
02/14/2016 | December 2015 Net Worth Update (-$15,351)
01/06/2016 | November 2015 Net Worth Update (+$13,459)
12/30/2015 | October 2015 Net Worth Update (+$67,372)
10/18/2015 | Kashi Settlement Up to $27.50 Back
10/15/2015 | September 2015 Net Worth Update (-$23,199)
10/15/2015 | August 2015 Net Worth Update(-$44,297)
08/16/2015 | July 2015 Net Worth Update (-$2,103)
07/18/2015 | June 2015 Net Worth Update (+2,172)
06/14/2015 | May 2015 Net Worth Update (+15,309)
05/03/2015 | April 2015 Net Worth Update (+$16,009)
04/30/2015 | Financial Freedom Plan - 2015 Update
04/13/2015 | March 2015 Net Worth Update (+$5,216)

About 2millionblog.com

A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,465,493

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