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.

Our location’s supervisor is changing like a carousel ride, we are already on our third one within a few months. They’re dropping like flies out here! But I’m not too surprised, being a supervisor in our agency is a thankless, stressful job. Don’t know why anyone would apply when the increase in pay isn’t that great. Also, in my own personal life I’ve screwed up and made mistakes, but life has to go on, there is no rewind or pause button. So I just gotta live with it and move on the best I can while at the same time, hoping for the best in the future.

In the meantime, I’ve been saving quite a bit of money and divesting it to various sources such as my Roth IRA, 401(k), more RMB, gold ETF, and them good ‘ol savings and checking accounts. However, I’m not making as much as I hoped to… so far the powers that be have changed our post differential (basically the increase in pay we get for coming to this godforsaken land) from the initial 20% to a paltry 10%!!! Had I known that they would have decreased it so much, I probably wouldn’t have come here. But nothing I can do now, I need to finish my TDY or get a black mark on my file. Anyways… at least this TDY should help me when I put in for a transfer.

So without further adieu, here is my asset listing so far, as of beginning of May 2010:

Assets:

• Checking & Savings Accounts – 10,600
• Internet Savings Account – 16,200
• Foreign Currencies – 6,600
• Stock Market – 13,700
• Roth IRA – 13,600
• 401k (current employee) – 35,300
• 401k (previous employee) – 17,000
• Property #1 – 500,000
• Property #2 – 490,000
• Property #3 – 147,000 (43,600 equity)

Total Assets: 1,250,000

Liabilities:

• Student Loans – 26,700
• Property #1 Mortgage – 135,000
• Property #2 Mortgage – 20,700
• Property #3 Mortgage – 103,400

Total Liabilities: 285,800

Net Worth: +964,200 (increase by 51,500 since last status update on 11/23/2009)

Just for fun and to compare apples to apples, let’s exclude Property #1 and Property #2 from the calculations then we get:

• Total Assets: 260,000
• Total Liabilities: 130,100
• Net Worth: +129,900 (increase by 37,200 since last status update on 11/23/2009)

Overall, either way you slice and dice it, the increase in net worth has been pretty good for just a five month period. I’m relatively pleased with the the current progress of asset accumulation.

Assets:

• Checking & Savings Accounts  – 8,000
• Internet Savings Account – 8,100
• Foreign Currencies – 6,600
• Stock Market – 7,000
• Mutual Funds – 2,300
• Roth IRA – 6,600
• 401k (current employee) – 26,000
• 401k (previous employee) – 16,600
• Property #3 – 147,000 (39,000 equity)

Total Assets: 228,200

Liabilities:

• Student Loans – 27,500
• Property #3 Mortgage – 108,000

Total Liabilities: 135,500

Comparing these numbers with the prior status update on June 2009, you can see an increase of assets by 16,200 (from 212,000 to 228,200) and a decrease in liabilities by 5,700 (from 141,200 to 135,500). The net result is an overall increase by 21,900 over a five month period. Prorating this makes a 4,380 monthly increase and projecting this would be 52,560 over a year.

If I were actually able to hit the projection of 52,560 for the 2009 year then I could consider my goal of saving $50,000 for 2009 written off. That would be the last of my goals for 2009. I will count up my numbers in January to see how I did in 2009. Hopefully that goal was attained!

Changes in this period are due to:

• Building back my emergency fund reserve (Internet Savings Account)
• Creating a Foreign Currency position
• Continue buildup of 401k (automatic pre-tax contributions & employer match)
• Accelerated payoff of Property #3 mortgage by prepayment
• Increased income/savings due to promotion in September

Now to take Property #1 and #2 into account.

Property #1:

• Mortgage = 142,000
• Assessed Value = 500,000

Property #2:

• Mortgage = 28,000
• Assessed Value = 490,000

If both properties are included in Assets and Liabilities then the revised net amounts are:

• Assets: 1,218,200
• Liabilities: 305,500
• Net Worth: +912,700

This is my current status as of June 2009:

Assets:

• Checking & savings accounts – 9,000
• Internet savings account – 5,000
• Stock market – 7,000
• Mutual funds – 2,000
• Roth IRA – 6,000
• 401k (current employee) – 20,000
• 401k (previous employee) – 16,000
• House #3 – 147,000 (34,500 equity)

Total Assets: 212,000

Liabilities:

• Student loans – 28,000
• House #3 mortgage – 112,500

Total Liabilities: 141,200

Why did I call it House #3? Well actually I have my name on another property (House #1) and will be adding my name to a second property (House #2) in the next month. Both of these properties are my parents and both of them have mortgages. The mortgages for both properties (~147,000 and ~39,000 respectively) are relatively small compared to the houses’ market values (~500,000 and ~480,000 respectively). I’m not completely sure of the specific mortgage amounts and house value amounts (although I know one of them recently was reassessed to ~480,000). I will add these two properties to the list once I figure out the actual equity and mortgage amounts and have my name added to both their deeds (currently only on one).

Now I know some people might complain that I shouldn’t add these properties to my Assets and Liabilities list but I believe it is okay. I did contribute some money for one of the houses (44,000) but it is pretty small relative to the total net worth of the two properties. However, the reason I do include it is because it is one of the forms of wealth I listed in my prior post Definition of Financial Freedom. It is the form of wealth called inheritance. There’s no reason to exclude it other than being falsely humble or report inaccurate information. And besides, my name is getting added to the deed, it doesn’t become more real than that.

About House #3: I bought this condo much below market value about two months ago. If you look at recent market prices, there still isn’t a price that matches what I bought it for, which was ~147,000. However, since the real estate market is still relatively unstable, I will only report the price bought, the equity I have accumulated on this purchase, and the mortgage I owe on it. I will talk about the specifics of House #3 in another post.

About Student Loans: I owe a total of 28,000 from both my ungrad and graduate education. I haven’t paid it off yet except for the minimum payments because my interest rate has been fixed at a low 1.875% to be paid monthly until 2025. Seeing how I can get better return investing money, there is no incentive for me to prepay the loan.