February 2009 Net Worth Update (-3.85%)

Assets

Jan-09

Jan-09

Change

%

Cash & Savings

$ 48,467.69

$ 43,484.02

$ (4,983.67)

-10.28%

Taxable Brokerage Accts

$ 65,304.57

$ 64,775.99

$ (528.58)

-0.81%

Roth IRAs

$ 32,226.26

$ 29,456.61

$ (2,769.65)

-8.59%

Pre-tax Retirement Accts

$ 136,939.79

$ 118,992.46

$ (17,947.33)

-13.11%

Stock Options

$ -

$ -

$ -

0.00%

ESPP

$ 23,620.16

$ 24,577.35

$ 957.19

4.05%

House #1 - Rental

$ 160,000.00

$ 160,000.00

$ -

 

House #2 - Rental

$ 128,225.00

$ 128,225.00

$ -

 

House #3 - ???

$ 108,910.00

$ 108,310.00

$ (600.00)

 

House #4 - Primary

$ 300,000.00

$ 300,000.00

 

 

Receivable (Payable)

$ -

$ -

$ -

 

Other Assets

$ -

$ -

$ -

 

Total Assets

$ 1,003,693.47

$ 977,821.43

$ (25,872.04)

-2.58%

Liabilities

 

 

 

 

Credit Card Balances

$ (1,245.50)

$ (413.44)

$ 832.06

-66.81%

House #1 Mortgages

$ (112,225.97)

$ (113,520.95)

$ (1,294.98)

1.15%

House #2 Mortgages

$ (100,981.42)

$ (99,273.24)

$ 1,708.18

-1.69%

House #3 Mortgages

$ (89,290.07)

$ (89,045.39)

$ 244.68

-0.27%

House #4 Mortgages

$ (241,600.00)

$ (241,302.93)

$ 297.07

-0.12%

Rental Deposits

$ (10,985.23)

$ (4,135.23)

$ 6,850.00

-62.36%

Additional Tax Liability

$ -

$ -

$ -

 

Other Liabilities

 

 

$ -

 

Total Liabilities

$ (556,328.19)

$ (547,691.18)

$ 8,637.01

-1.55%

$2million Goal Progress*

$ 388,965.28

$ 371,433.18

$ (17,532.10)

-4.51%

Net Worth

$ 447,365.28

$ 430,130.25

$ (17,235.03)

-3.85%


Highlights for February


  • 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 finally paid off a security deposit loan from our international assignment this past month, the last of the perks from our assignment is gone :-(.
  • I moved $1,500 from House #1 HELOC (3.25%) to pay down House #2 30yr fixed mortgage (6.5%). Im testing the waters with a little interest rate arbitrage between the loans. I am keeping it to a small amount that we can easily payback within a few months.

  • While I list our properties according to our cost basis (with the exception of House #3 which we may be selling soon), I thought I would provide the Zillow estimates for those that are curious (as of 3/8/2009): House #1-$205,000; House #2-$156,500; House #3-$129,000; House #4-$304,000. I don't use or rely on these estimates, but hopefully that will help satisfy those that are interested.
  • We have downshifted to a single family income and are trying to adjust to lifestyle changes.
  • Investments posted nearly double digit losses in February, but we were still able to eke out a gain vs our benchmark.

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...

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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 (3)


Hmmm. It is nice you still have about 200k left in the market. Hopefully that will pay off sooner than later.

Living on one income now, you seem very low on cash. I would try to build yourself back up to at least 100k as soon as possible. This will buffer you against rental vacancies, job loss, etc.

I live in Raleigh too. Have been reading your blog for a while.
Comment on your rental #3, it's really not a good time to sale any home. Why do you want to do so? Any issue with renting this property?

Great question. House #3 was an asset brought onto the books by marriage. Its a problem asset IMO. It makes a poor rental, and renting it will not be a long term profitable event. We have made the decision to move this asset off our books.

If your asking why don't we wait until the market recovers a bit before we try and sell it? We could consider that - we are actually looking at a family arrangement at the moment that doesn't really help us financially, but is something we value. That may sound crazy, but after discussing it we think its the right move for us even though we will take a financial hit on it. More to come on this.

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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: $1,574,185

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