2million - My Journey to Financial Freedom

A Personal Finance Blog      ANNOUNCEMENT:2million has moved to www.2millionblog.com.     

Monday, June 05, 2006

May 2006 Net Worth Update (+$3,249)

Here's my net worth update for May as of 5/31/2006. All things considered I am happy with my overall performance given the stock market declines, recognizing some early temporary assignment expenses, and realizing some of the transaction costs from the house I am in the process of trying to purchase.

 

Apr-06

May-06

Change

%

Cash

$ 6,888.35

$ 32,287.90

$ 25,399.55

368.73%

Saving

$ 43,797.06

$ 3.00

$(43,794.06)

-99.99%

Brokerage

$ 42,650.68

$ 41,848.04

$ (802.64)

-1.88%

Roth IRA

$ 24,799.76

$ 24,374.99

$ (424.77)

-1.71%

401(k)

$ 81,246.68

$ 82,136.49

$ 889.81

1.10%

Stock Option

$ -

$ -

$ -

0.00%

ESPP

$ 35,289.95

$ 35,311.38

$ 21.43

0.06%

Rental Equity

$ 41,584.91

$ 36,272.76

$ (5,312.15)

-12.77%

Other Assets

$ -

$ -

$ -

0.00%

Receivable

$ -

$ 1.00

$ 1.00

0.00%

Reserve Funds

$ -

$ -

$ -

0.00%

Loans

$ (30,819.75)

$ (3,549.06)

$ 27,270.69

-88.48%

Tax Liability

$ -

$ -

$ -

0.00%

Total

$ 245,437.64

$ 248,687.50

$ 3,249.86

1.32%



Highlights for May
-All credit card debt (except current month's purchases) is in the form of 0% APR balance transfers earning interest in my savings accounts. As part of my preparations for purchasing my new home, I paid off both 0% balance transfers that are expiring in the next month.
-I am in the process of going to NY for a temporary assignment and started planning for what my monthly expenses might be and have already recognized some assignment expenses this month (such as plane tickets).
-I put a house under contract and am in the process of trying to purchase it.
-I am in the process of shifting my savings and cash around to use when I close on the house. In the process I realized I may have a small liquidity crisis and have pulled $5,500 till I can get a new 0% balance transfer offer.
-I finished consolidating my Etrade account to my Sharebuilder account for a total transfer expense of $25.

Additional Stock Investments for April (Outside of 401k & ESPP):
$100 in Roth IRA
$500 in Medtronic DRIP

6 Comments:

  • Good job with the positive Net Worth given current market conditions!

    By Anonymous Jane Dough, at 7:07 PM  

  • Nice blog. I'm just starting my own personal finance blog. Keep up the good work.

    http://roadtoretirement.blogspot.com

    By Blogger roadtoretirement, at 8:20 PM  

  • $2M,

    Keep up the hard work. I know how hard it can be shuffling money around before making a new home purchase.

    Keeping in mind you're also moving to a very pretty part of NY for work at the same time, I think you're doing a great job!

    Jane has a great point - most of us lost networth due to market declines!

    Keep it up.

    Makingourway
    www.makingourwayblog.com

    By Blogger makingourway, at 1:23 AM  

  • Your income has got to increase to cover any short falls if not in this type of market economy, I think you will be in trouble. Most businesses will be looking to stream line their productions and services and that means a reduction in job opportunities. Plus the effect of out-sourcing jobs to cheaper wages country in India and China will have a salary reducing effect on your income. You might consider seeing if you can afford to get insurance to pay your mortgage if you do get retrenched. Then there is the effect of high commodities prices that is causing inflation and the cost push inflation on products and services.

    I am seeing a lot more poor people nowadays and even conglomerates, big companies (eg. General Motors) and the service sectors are in trouble.

    I am keeping myself in a state of pure solid "CASH" and waiting to see what happens, most commercial properties nowadays that are not in prime location cannot be sold off at this moment, lucky for me I paid CASH for all my properties and I am still keeping the prime commercial properties that are still appreciating.

    Anonymous Millionaire.

    P/S This is the greatest time to make money if you have CASH.

    By Anonymous Anonymous, at 3:49 AM  

  • Nice comment anonymous millionaire. I did hear that it is the best time if you are rich with cash....

    By Blogger pyroracing85, at 3:59 PM  

  • I love reading finance blogs and yours is one of the better ones. Keep up the good work, when do you think you will reach 2 million??

    By Anonymous Eric, at 6:58 PM  

Post a Comment

<< Home