August 2013 Net Worth Update (-$12,557)
Highlights for August
- Our properties are listed on our balance sheet based on their cost basis, not current market value. We did this while the real estate market was riding high and we continue to do it now during the slide. I believe real estate is too illiquid to list based on recent sale transactions. For those interested, our August Zillow property estimates are: $197,147; $121,906; $278,372; and $236,537.
- Our August net worth decline is mostly driven by the slide in the stock market.
- Our monthly expense profile continues to improve while we are on a work assignment in China. I expect about ~$1-$2k/mo in related family travel expenses as try to maximize our limited time in China through the end of the year. Note this is offset by savings in other areas so expect to be close to a wash on our balance sheet.
- Reports from back home are that the used car I have driven since college needs some repairs. I won't know the extent of the repair until we get back from our assignment, but this could be the point at which I end up purchasing a replacement car. For now I need to continue to focus on building cash savings as a large cash outflow could be looming.
- I posted a checkpoint on our financial freedom plan progress. There are some areas I believe we are in good shape(retirement, stock) and others we are not yet in a good position (cash & bonds). As a result I've been thinking about re-prioritizing our cash flow and to stop maximizing our 401k contributions. That is a tough mindset change though for me.
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