August 2010 Net Worth Update (-$14,532)

Assets Jul-10 Aug-10 Change %
Cash & Savings $ 28,542.92 $ 31,008.94 $ 2,466.02 8.64%
Taxable Brokerage Accts $ 119,196.90 $ 114,430.56 $ (4,766.34) -4.00%
Roth IRAs $ 56,602.49 $ 54,740.27 $ (1,862.22) -3.29%
Pre-tax Retirement Accts $ 217,918.41 $ 209,882.22 $ (8,036.19) -3.69%
Stock Options $ 24,120.00 $ 23,840.00 $ (280.00) -1.16%
ESPP $ 21,457.82 $ 21,457.82 $ - 0.00%
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 $ 1,056,063.54 $ 1,043,584.81 $ (12,478.73) -1.18%
Liabilities
Credit Card Balances $ (3,675.48) $ (1,159.05) $ 2,516.43 -68.47%
House #1 Mortgages $ (129,501.49) $ (113,938.40) $ 15,563.09 -12.02%
House #2 Mortgages $ (9,479.35) $ (9,393.57) $ 85.78 -0.90%
House #4 Mortgages $ (235,674.64) $ (256,000.00) $ (20,325.36) 8.62%
Rental Deposits $ (4,697.72) $ (4,697.72) $ - 0.00%
Additional Tax Liability $ (9,165.60) $ (9,059.20) $ 106.40 -1.16%
Other Liabilities $ -
Total Liabilities $ (392,194.28) $ (394,247.94) $ (2,053.66) 0.52%
$2million Goal Progress* $ 599,543.90 $ 605,336.87 $ 5,792.97 0.97%
Net Worth $ 663,869.26 $ 649,336.87 $ (14,532.39) -2.19%

Highlights for August

  • 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 through October. 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 fared slightly worse than our benchmark. Our benchmark (VTI) lost 4.71% of its value in August vs 4.87% for our investments. The full details of our investments will be posted shortly.
  • Major purchases in August included a week beach rental for $400, $208 for painters, and my wife made a series of small purchases to decorate our bedroom ~$200.
  • We refinanced our House #4 primary mortgage and used our home's increased value to consolidate part of a higher rate mortgage on House #1. As a result you'll notice the House #4 Mortgages now total an extra $20k. $15k has already been applied to a mortgage on House#1, the remaining $5k will hopefully be transferred this month - we are still waiting for the taxes/insurance escrow payment from the original mortgage.
  • We also finished re-renting House #1 in August. We had to drop the rent to find a quick replacement tenant and took an opportunity to make some improvement/repairs to the house during the vacancy. Work will cost about $1,200 and expect invoice in Sept.

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...

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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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