June 2010 Net Worth Update (-$15,172)

Assets May-10 Jun-10 Change %
Cash & Savings $ 29,015.07 $ 28,864.92 $ (150.15) -0.52%
Taxable Brokerage Accts $ 118,991.39 $ 111,904.54 $ (7,086.85) -5.96%
Roth IRAs $ 54,287.06 $ 52,203.53 $ (2,083.53) -3.84%
Pre-tax Retirement Accts $ 208,572.64 $ 201,972.24 $ (6,600.40) -3.16%
Stock Options $ 25,544.00 $ 22,824.00 $ (2,720.00) -10.65%
ESPP $ 20,964.40 $ 20,802.23 $ (162.17) -0.77%
House #1 - Rental $ 160,000.00 $ 160,000.00 $ - 0.00%
House #2 - Rental $ 128,225.00 $ 128,225.00 $ - 0.00%
House #4 - Primary $ 300,000.00 $ 300,000.00 $ - 0.00%
Receivable (Payable) $ - $ - $ -
Other Assets $ - $ - $ -
Total Assets $ 1,045,599.56 $ 1,026,796.46 $ (18,803.10) -1.80%
Liabilities
Credit Card Balances $ (2,778.04) $ (2,338.60) $ 439.44 -15.82%
House #1 Mortgages $ (133,072.53) $ (131,348.08) $ 1,724.45 -1.30%
House #2 Mortgages $ (9,651.10) $ (9,651.10) $ - 0.00%
House #4 Mortgages $ (236,477.16) $ (236,044.28) $ 432.88 -0.18%
Rental Deposits $ (5,597.72) $ (5,597.72) $ - 0.00%
Additional Tax Liability $ (9,706.72) $ (8,673.12) $ 1,033.60 -10.65%
Other Liabilities $ -
Total Liabilities $ (397,283.27) $ (393,652.90) $ 3,630.37 -0.91%
$2million Goal Progress* $ 584,793.45 $ 569,187.84 $ (15,605.61) -2.67%
Net Worth $ 648,316.29 $ 633,143.56 $ (15,172.73) -2.34%


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. 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 are taking advantage of a Discover card promotion to earn a $500 bonus by spending $2k a month on our card for 5 months. While our normal month-to-month spending is about ~$1,500 on credit cards we are accelerating some planned purchases to hit the monthly clip level.
  • We track our real estate properties according to our cost basis.
  • Overall our holdings again did not fare as well as our benchmark. Our benchmark (VTI) lost 5.65% of its value in June. The full details of our investments will be posted shortly.
  • Major purchases in June included some patio furniture at 75% for ~$160, a media extender ~$80, and upgrades to our internet tv box ~$100. The upgrades and media extender were one time expenses to improve the tv options in our house since we dropped cable over a year ago. I feel the upgrades have been earned as we have already saved at least (17mos * $40/mo cable service =) $680 so far.
  • Otherwise things have been quiet. July will be more hectic as Rental #1 will turn over and the market is starting to get very interesting.

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 (11)


Are you thinking the rental will be difficult to fill up?

It could be - Im disappointed to see a lot of homes now for rent for dirt cheap - it will be a difficult market to maintain our profit in.

Hi 2million,

If you find any other promotional offers from banks, credit cards, brokerages, etc. that give us a cash bonus for signing up please let me know. This low interest rate environment is killing our savings/interest and I'm looking for opportunities to increase our interest.

You have not yet updated your net worth for this month. Come on 2million, stop slacking! hah.

Sorry - been slacking a bit since its summertime ;-)

How the heck do you accumulate so much in Taxable brokerage accounts? It's apparent that you make well above average income but still, that's impressive. What is your strategy? Big chunks or small but steady amounts?

Harris, Not sure I completely understand, but I guess it is more small steady amounts. If you review my monthly net worth reports posted since 2005 you can see how my taxable brokerage holdings have grown steadily over time - I had ~$39k in 2005.

Sorry, I wasn't very clear. Thanks for your response. I love this site. Your net worth sheets are great. I made a similar one for myself. Keep up the posts!

Hi 2million, it's me again. I need to apologize because sometimes I find myself being happy when your net worth goes down for a month only because my net worth is only half of yours and I'm secretly trying to "beat" you. It makes things worse when we're the same age and I guess I'm a little jealous. LOL. But in actuality I want you to do well along with your family and happy to read your blog. How does one get over jealousy with money issues?

Steve, I have actually been in a similar spot reading other folks sites. I found its key to recognize everyone's life has too many variables and unique circumstances to try and compare apples to apples too much.

I believe everyone needs to focus on their financial goals and the rate and pace to achieving them. Read sites like mine learn how other people are working towards their goals and ideas to try or mistakes to avoid to achieving your own.

Not sure if that helps, but I found that is what works for me.

Thanks 2million. I will look at the positives. I guess even if you're net worth is double mine, I'm not doing that badly since I'd say you're probably in the top 2% for your age group.

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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: $1,574,185

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