October 2014 Net Worth Update (+$11,916)




Highlights for October

  • Between my wife and I we have earned approx $3,000 (in gift cards, points, and miles) through 6 credit card signup bonuses this year. Our credit scores are still hovering around 800, but since we have no plans to utilize our credit for other financing anytime soon, we are making a little money off our credit scores by taking advantage of these promotional opportunities.We are not spending extra, but focusing our spending on these new cards to earn the bonuses.
  • Our properties are listed on our balance sheet based on their cost basis, not current market value. We have done this during the the real estate market highs and lows. I believe real estate is too illiquid to list based on recent sale transactions. For those interested, our October Zillow property estimates are: $204,473; $127,463; $296,877; and $226,616 (total: $855,429 vs $751,255 on balance sheet).
  • Our balance sheet appears pretty muted for October, regaining some of the ground lost in September.
  • My job feels all-consuming as I struggle to find better balance between work, family, and everything else. On the plus side I feel like if I can hang in there for 5-8 more years we will have likely reached our financial goals and feel comfortable perhaps making some unconventional lifestyle changes.
  • As I settle in at the new company we also get adjusted to our new benefits. After looking at the health care options is looks like the high-deductible health care plan may the lowest cost plan regardless of whether we have a lot or just a little health expenses. Guess we will give it a try!

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Comments (6)


I am curious about a few items:
-Why dont you list car values as assets?
-Why dont you list 529 plans?

These items have value, maybe NOT part of your 2million goal

One more thought to add to my previous comment:
Can you list the items that are not in your asset/liability reports? ie 529, car assets, etc..
thanks

Hey 2M, what is all this about settling in 'at a new company'? Is this a job change within IBM or did you change jobs completely? Congrats on the steadily climbing NW, a fellow blogger 1500days just hit their 'double comma' milestone in November. Happy holidays!

Awesome net worth! I also struggled to find a better work/life balance and decided to quit my job to do so. Somewhat extreme, but I am confident that there is a better opportunity out there for me. In fact, I just interviewed with a great company today.

Dave, Good points and don't disagree. My view is I don't think either of those "assets" contribute to our financial freedom goal. I view our cars as a sunk cost at time of purchase. As far as 529s we consider those my children's assets - if at some point in the future they are not needed or redirected for some other purpose I might reconsider.

As far as what else is not listed in our net worth? cars; all personal property; our children's assets (529s); our real property is not listed at current value, but cost basis; etc. Thanks for the questions!

Steve - sorry I have only included small comments regarding employer change: IBM sold the business line that I work in to Lenovo this year. So technically I have a new employer. Congrats on the milestone!


It is difficult to determine property values. Even if Zillow is correct, you have about 10% selling costs.

I am in the same boat with my rentals. I just use the tax value, which is probably a closer estimate. Zillow sees them as 25% higher, I have a mortgage appraisal that shows quite a bit higher, and recent saves are even higher.

So, it's all a guess anyway.

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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: $1,701,144

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