Status Update (7/1/2010)
2010 July 8
Net Worth Calculation as of July 1, 2010.
Assets:
- Checking & Savings Accounts – 4,600
- Internet Savings Account – 16,200
- Foreign Currencies – 11,600
- Stock Market – 17,600
- Roth IRA – 16,300
- 401k (current employee) – 35,600
- 401k (previous employee) – 16,900
- Property #1 – 500,000
- Property #2 – 490,000 (49,500 equity I contributed)
- Property #3 – 147,000 (45,600 equity I contributed)
Total Assets: 1,255,800 (265,800 not including properties #1 and #2)
Liabilities:
- Student Loans – 26,400
- Property #1 Mortgage – 133,000
- Property #2 Mortgage – 9,000
- Property #3 Mortgage – 101,400
Total Liabilities: 269,800 (127,800 not including properties #1 and #2)
Net Worth: 986,000 (138,000 not including properties #1 and #2)
Change in Net Worth since last Status Update on May 1, 2010: +21,800 (+8,100 not including properties #1 and #2)
Notes:
- My parents decided that they only need me to lend them the $5k instead of the $10k to pay off the mortgage for Property #2. Thus, my parents applied their own savings of $4k, my savings of $5k (I added that 5k temporary to the amount of total equity I have contributed to Property #2), and two monthly mortgage payments… resulting in a final mortgage of $9k as of July 1, 2010. I’m getting excited just like my parents that the mortgage is about to be paid off.
- I’ve been contributing steadily to my Roth IRA, stocks, and Foreign Currency (RMB) positions; and thus they are increasing.
- Checking and Savings have been somewhat depleted due to lending parents $5k; however, the emergency fund (Internet Savings Account) has stayed relatively steady.
- Both 401ks have dropped over these last two months since the previous update in May. And the current employee 401k has dropped more than my prior employee 401k considering I have been contributing around 1.2k every month… and yet it has only gone up 300 total for the last two months.
- I am continuing to prepay Property #3’s mortgage so it has dropped 2k in the last two months.
- Overall I am satisfied with the progress since my last update on May 1, 2010.
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