January 2009 Net Worth Update (+0.38%)

Assets

Dec-08

Jan-09

Change

%

Cash & Savings

$ 60,687.73

$ 48,467.69

$ (12,220.04)

-20.14%

Taxable Brokerage Accts

$ 65,648.35

$ 65,304.57

$ (343.78)

-0.52%

Roth IRAs

$ 33,059.63

$ 32,226.26

$ (833.37)

-2.52%

Pre-tax Retirement Accts

$ 135,193.33

$ 136,939.79

$ 1,746.46

1.29%

Stock Options

$ -

$ -

$ -

0.00%

ESPP

$ 19,675.17

$ 23,620.16

$ 3,944.99

20.05%

House #1 - Rental

$ 160,000.00

$ 160,000.00

$ -

 

House #2 - Rental

$ 128,225.00

$ 128,225.00

$ -

 

House #3 - ???

$ 109,510.00

$ 108,910.00

$ (600.00)

 

House #4 - Primary

$ 300,000.00

$ 300,000.00

 

 

Receivable (Payable)

$ -

$ -

$ -

 

Other Assets

$ -

$ -

$ -

 

Total Assets

$1,011,999.21

$1,003,693.47

$ (8,305.74)

- .82%

Liabilities

 

 

 

 

Credit Card Balances

$ (11,798.61)

$ (1,245.50)

$ 10,553.11

-89.44%

House #1 Mortgages

$ (112,430.03)

$ (112,225.97)

$ 204.06

-0.18%

House #2 Mortgages

$ (100,981.42)

$ (100,981.42)

$ -

0.00%

House #3 Mortgages

$ (89,534.75)

$ (89,290.07)

$ 244.68

-0.27%

House #4 Mortgages

$ (241,600.00)

$ (241,600.00)

 

 

Rental Deposits

$ (9,980.57)

$ (10,985.23)

$ (1,004.66)

10.07%

Additional Tax Liability

$ -

$ -

$ -

0.00%

Other Liabilities

 

 

$ -

 

Total Liabilities

$ (566,325.38)

$ (556,328.19)

$ 9,997.19

-1.77%

$2million Goal Progress*

$ 387,273.83

$ 388,965.28

$ 1,691.45

0.44%

Net Worth

$ 445,673.83

$ 447,365.28

$ 1,691.45

0.38%

Highlights for January


  • All credit card debt (except current month's purchases) is in the form of 0% APR balance transfers earning interest in my savings accounts.
  • We paid off the last of our 0% balance transfers in January. The well has dried up for now, but we are ready to take advantages if any offers come our way.
  • We started to clamp down on our spending this month as we started getting settled into our new home. However we have been spending money trying to reduce the home's energy costs. All other remodel/improvement projects are on hold for the time being. We are just going to enjoy what we got for now.
  • We finally filed our 2007 income taxes this month and learned we would still get the 2008 stimulus checks in the form of a tax credit on our 2008 tax return.
  • January was a nice month because we didn't have a mortgage payment on our new home (House #4) - that will change everything starting February 1st. Cash flow will be much tighter for our household than it ever has before, but I think we are ready for it.
  • Investments posted losses in January, but we did extremely well compared to out benchmark. We bested our benchmark by nearly 3% for the month.

You can see my previous monthly net worth updates here.

Related in Net Worth Archive:

May 2012 Net Worth Update (-$28,098) (Jun 10, 2012) Highlights for MayWe like to take advantage of 0% APR balance transfers and other credit card offers for free money. We are actively looking at taking advantage of new credit card arbitrage opportunities. Our properties are listed on our...

April 2012 Net Worth Update (+$2,763) (May 09, 2012) Highlights for AprilWe like to take advantage of 0% APR balance transfers and other credit card offers for free money. We are actively looking at taking advantage of new credit card arbitrage opportunities. We received $1,000+ in rewards cash...

March 2012 Net Worth Update (+$22,032) (Apr 11, 2012) Highlights for MarchWe like to take advantage of 0% APR balance transfers and other credit card offers for free money. We are actively looking at taking advantage of new credit card arbitrage opportunities. We are close to earning ~$1,000...

Comments (7)


Why did you depreciate your House#3 by $600? I thought for purposes of net worth you held your House values steady at what you paid for them?

Good eye. This house is not worth what my wife paid for it. We are also considering selling it - it is not a long term holding for us. Even though we aren't sure what we are going to do with it yet, I thought it would be a good idea to start recognizing the losses we will see on this property. However it is a bit of double standard - I do like to track property at its cost basis, not its market value.

A question , I noticed that the value of your homes remains unchanged.Does the value of your homes in the balance sheet reflect the county assessed value ?

The values listed in my net worth is the cost basis. I never marked the value of the property to current market conditions (on the way up or the way down). The only exception at this point is house #3 that we have started talking about selling so we have adjusted it to be closer to what we think we could get for it. All the other houses should still be worth more than we paid for them in aggregate.

Do you have 30 year fixed rate on all properties?

Did you down 20% ? if so, then how come your mortgage is 241600 on primary ( 300000-60000= 240000)? your closing costs seemed pretty low and after you recieved rebate from BA. Is it coz of the escrows or something else?

SC - good eye - the actual sales price was $302k. As far as closing costs, escrow was in included, but property taxes and insurance are probably below average compared to many areas (the property is out of town so we only pay county taxes).

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A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,701,144

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