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RSSJune 2006 Net Worth Update (+$433)
Here's my net worth update for June as of 6/30/2006. I am disappointed that I was only able to eke out a sub $500 increase. Declines in IBM stock price (ESPP) and the transaction costs associating with the closing of my new property were largely responsible for the below average monthly net worth increase. However, my net worth change was still positive so I can't complain too much.
| Assets | May-06 | Jun-06 | Change | % |
| Cash & Savings | $ 32,290.90 | $ 32,217.00 | $ (73.90) | -0.23% |
| Taxable Brokerage Accts | $ 41,848.04 | $ 40,958.00 | $ (890.04) | -2.13% |
| Roth IRA | $ 24,374.99 | $ 24,629.00 | $ 254.01 | 1.04% |
| 401(k) | $ 82,136.49 | $ 83,304.00 | $ 1,167.51 | 1.42% |
| Stock Option | $ - | $ - | $ - | |
| ESPP | $ 35,311.38 | $ 32,961.00 | $ (2,350.38) | -6.66% |
| House #1 - Rental | $ 160,000.00 | $ 160,000.00 | $ - | |
| House #2 - Primary | $ - | $ 128,225.00 | $ 128,225.00 | |
| Receivable (Payable) | $ - | $ - | $ - | |
| Other Assets | $ - | $ - | $ - | |
| Total Assets | $ 375,961.80 | $ 502,294.00 | $ 126,332.20 | 33.60% |
| Liabilities | | | $ - | |
| Credit Card Balances | $ (2,549.06) | $ (28,297.88) | $ (25,748.82) | 1010.13% |
| House #1 Mortgages | $ (123,727.20) | $ (119,977.20) | $ 3,750.00 | -3.03% |
| House #2 Mortgages | $ - | $ (104,000.00) | $ (104,000.00) | |
| Rental Deposits | $ (1,000.00) | $ (900.00) | $ 100.00 | -10.00% |
| Additional Tax Liability | $ - | $ - | $ - | |
| Other Liabilities | $ - | $ - | $ - | |
| Total Liabilities | $ (127,276.26) | $ (253,175.08) | $ (125,898.82) | 98.92% |
| Net Worth | $ 248,685.54 | $ 249,118.92 | $ 433.38 | 0.17% |
Highlights for June
-All credit card debt (except current month's purchases) is in the form of 0% APR balance transfers earning interest in my savings accounts.
-I just finished completing a new balance transfer and will be posting the details shortly.
-I finally completed the purchase of my 2nd property which resulted in significant closing cost expenses during the month of June.
-I am in the process of going to NY for a temporary assignment and recognized some assignment expenses this month (such as plane tickets).
-I finalized my temporary living arrangement while in NY and determined I will spend a net $500 /month.
Additional Stock Investments for June (Outside of 401k & ESPP):
$200 in Roth IRA
$130 in Pfizer DRIP
$500 in Medtronic DRIP
Note: I have introduced a new format for my net worth statements this month. I hope the new format will provide improved transparency into both my assets and liabilities. Let me know what you think.
by 2million on
07/10/06
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Comments (10)
DATE: 10:23 AM
I like your new format... very easy to read.
Posted by Flexo | September 10, 2006 3:17 PM
DATE: 6:01 PM
I've been following you blog for a while now. You've seem to concentrate on making money via investments. Do you make any money via the web? If so, what is your approach?
Posted by John | September 10, 2006 3:17 PM
DATE: 6:05 PM
looks good, but you might want to consider a december 2005 column to give an idea of year to date progress.regards,makingourwaywww.makingourwayblog.com
Posted by makingourway | September 10, 2006 3:17 PM
DATE: 11:44 PM
Are you renting out your rental? I didn't see any cash flow listed from the property.
Posted by Anonymous | September 10, 2006 3:17 PM
DATE: 9:25 AM
How did you finance your house?I would expect to see a huge drop in your cash balances for a downpayment of what looks like 24K. But the only big swing I see is in your credit card balance which looks like you took on debt of 25K.I can see you're c card balance is covered by 32K of cash, but don't you think you're stretching yourself a little thin with liquid cash of only 4K?
Posted by Anonymous | September 10, 2006 3:17 PM
DATE: 9:44 AM
You bet - its definitley a little tight -- see my earlier post about dealing with the liquidity crunch I had to get through closing.However, I think it a good, calculated risk to stretch a bit like this. With the new balance transfer I now have plenty of cash for the next 12 months so I have a good amount of time to rebuild my cash savings. We will see if this comes back and bites me.As for financing I put 20% down and got a 80% 30yr fixed mortgage.
Posted by 2million | September 10, 2006 3:17 PM
DATE: 9:45 AM
As for the rental - the reason you don't see the rental cash flow is that this is not an income statement its a balance sheet. I may add a income/expense statement at some point in the future.
Posted by 2million | September 10, 2006 3:17 PM
DATE: 5:56 PM
I was curious, after you moved out of your first house and turned it into an income property, did that affect the interest rate you got for this second house? Also, is the focus of the second house rental or your own residence?
Posted by crsandus | September 10, 2006 3:17 PM
DATE: 9:40 PM
You are absolutely crazy to be holding onto that much IBM stock!
Posted by Anonymous | September 10, 2006 3:17 PM
DATE: 12:13 AM
Your website is terrific.Chicago reader.
Posted by Anonymous | September 10, 2006 3:17 PM