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RSSJanuary 2010 Net Worth Update (-$2,272)
| Assets | Dec-09 | Jan-10 | Change | % |
| Cash & Savings | $ 16,327.90 | $ 17,204.40 | $ 876.50 | 5.37% |
| Taxable Brokerage Accts | $ 112,411.10 | $ 109,096.94 | $ (3,314.16) | -2.95% |
| Roth IRAs | $ 49,835.89 | $ 50,856.92 | $ 1,021.03 | 2.05% |
| Pre-tax Retirement Accts | $ 194,639.68 | $ 193,999.98 | $ (639.70) | -0.33% |
| Stock Options | $ 30,039.99 | $ 23,248.00 | $ (6,791.99) | -22.61% |
| ESPP | $ 21,961.79 | $ 20,952.45 | $ (1,009.34) | -4.60% |
| House #1 - Rental | $ 160,000.00 | $ 160,000.00 | $ - | 0.00% |
| House #2 - Rental | $ 128,225.00 | $ 128,225.00 | $ - | 0.00% |
| House #3 - Sold | $ - | $ - | $ - | #DIV/0! |
| House #4 - Primary | $ 300,000.00 | $ 300,000.00 | $ - | 0.00% |
| Receivable (Payable) | $ - | $ - | $ - | |
| Other Assets | $ - | $ - | $ - | |
| Total Assets | $ 1,013,441.35 | $ 1,003,583.69 | $ (9,857.66) | -0.97% |
| Liabilities | ||||
| Credit Card Balances | $ (2,218.29) | $ (647.06) | $ 1,571.23 | -70.83% |
| House #1 Mortgages | $ (135,132.11) | $ (134,483.79) | $ 648.32 | -0.48% |
| House #2 Mortgages | $ (20,963.35) | $ (18,179.17) | $ 2,784.18 | -13.28% |
| House #3 Mortgages | $ - | $ - | $ - | #DIV/0! |
| House #4 Mortgages | $ (237,954.47) | $ (237,954.47) | $ - | 0.00% |
| Rental Deposits | $ (4,657.72) | $ (4,657.72) | $ - | 0.00% |
| Additional Tax Liability | $ (11,415.20) | $ (8,834.24) | $ 2,580.96 | -22.61% |
| Other Liabilities | $ - | |||
| Total Liabilities | $ (412,341.14) | $ (404,756.45) | $ 7,584.69 | -1.84% |
| $2million Goal Progress* | $ 539,054.68 | $ 536,781.71 | $ (2,272.97) | -0.42% |
| Net Worth | $ 601,100.21 | $ 598,827.24 | $ (2,272.97) | -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 2009. The well has dried up for now, but we are ready to take advantages if any offers come our way.
- We track our real estate properties according to our cost basis.
- We clamp down our spending in January to help recover from our higher than average spending during the holidays in December.
- We received January rent for one of our rental properties in Dec so our income this month was below normal.
- The stock market was down for the month dragging our net worth down as well. We also saw a significant drop in the value of my employer's stock options this month
- Otherwise we continued to focus on paying down our IELOC (House #2 mortgage) which has been an ongoing focus for us. Our goal is to pay off this credit line by the end of this year as one of the steps to reduce our total debt load.
- My wife received here $121 bonus for opening an Electric Orange account back in November.
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Comments (4)
Hey Guys,
We tried zero percent balance transfers on our cards a while back, but there were to many restriction on paying the cards back (e.g you could only make 2 payments per months).
what care are you using?
Posted by James | February 11, 2010 10:44 PM
Dude, single income with a wife and baby? Would like to see at least 25k in cash. Maybe sock a little more in your liquid account for a rainy day?
Posted by Matt | February 12, 2010 10:45 PM
Matt, Agree completely. Since we bought our new home in Dec 2008 we have been "cash poor" and the focus has been on paying down some debt and rebuilding our cash position. Currently savings is going towards our IELOC on one of the rental properties as its yieldlng a higher return than cash savings and I feel confident that I can access that money (as cash) if we need it.
Posted by 2million | February 13, 2010 11:47 AM
Just a quick point, don't plan on a credit line for an emergency. Banks have cut Helocs for unknown reasons.
Posted by Derek | February 22, 2010 5:55 AM