tag:blogger.com,1999:blog-159342012012-01-28T00:40:52.603-05:00A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.comBlogger2061100tag:blogger.com,1999:blog-15934201.post-1160232649353502452006-10-07T10:46:00.000-04:002006-10-10T19:51:03.576-04:00

2millionblog has offically moved to www.2millionblog.com. All the archives from this site have been transferred to the new site as well.Please update your bookmarks and grab this RSS Feed for 2millionblog.com to get the latest updates!

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com72tag:blogger.com,1999:blog-15934201.post-1158667915895720902006-09-19T08:11:00.000-04:002006-09-19T08:11:56.303-04:00

Back in early 2006 when I reviewed the returns from my net worth in 2005 I realized I needed to spend some time looking at my asset allocation.Here is what my asset allocation looked like in March:I took a look at my total asset allocation in March, but dropped the ball and didn't dig any further. Unfortuntely, my asset allocation has already changed enough that I should start over.Here is how

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com44tag:blogger.com,1999:blog-15934201.post-1158337009357989332006-09-15T12:16:00.000-04:002006-09-15T12:16:55.506-04:00

Well, I knew it couldn't last forever. My fiancée has finally turned full speed on wedding planning. She had been distracted by other projects for at least a few weeks; however, she has suddenly decided we need to book a location NOW.What is interesting to me is how this is beginning to evolve. I can't even conceive how you can decide where you are getting married until you have a budget for

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com31tag:blogger.com,1999:blog-15934201.post-1158244926150808862006-09-14T10:39:00.000-04:002006-09-14T10:49:39.683-04:00

No surprise here - as I suggested when I was setting my 2006 goals, I knew I was going to be spending a lot of cash this year. A quick glance at my August net worth readily reveals I now have negative net cash (Cash - CC Balances).I stretched and put 20% down on the new property I purchased; last month I bought an engagement ring; and for the 2nd half of 2006 I am on a temporary assignment in

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com27tag:blogger.com,1999:blog-15934201.post-1158155192606300792006-09-13T09:44:00.000-04:002006-09-13T09:46:33.366-04:00

2million is moving to www.2millionblog.comI finally bit the bullet and have setup some permanent space for 2millionblog. Unlike many of my peers, I loved using blogger and had planned on continuing to use it for the foreseeable future. Unfortunately, I recently have just hit too many walls and felt like blogger was holding back this blog's development.I have migrated all the archives (posts and

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com19tag:blogger.com,1999:blog-15934201.post-1157995375227414112006-09-11T13:17:00.000-04:002006-09-11T13:22:56.140-04:00

The house I purchased in June has a gas pack heating/cooling system that was installed around 1993. I had it inspected while I was purchasing the property and a rust hole was discovered in the heat exchanger. I tried to negotiate for a whole new system from the seller, but in the end settled for ~$1,500 which was based on a quote I received to replace the heat exchanger in the gas pack since

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com19tag:blogger.com,1999:blog-15934201.post-1157483805699824472006-09-07T11:05:00.000-04:002006-09-07T11:10:56.833-04:00

Well I bit again. Back in June I signed up for a 0% balance transfer from CitiCard for $26.5k, now I signed up for a $13k 0% balance transfer from Capital One.Since I no longer have any major financing moves in my immediate future (no plans to buy another property), I went ahead and put my credit score back to work by applying for a new credit card, taking the 0% balance transfer offer, and

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com19tag:blogger.com,1999:blog-15934201.post-1157474123788983432006-09-06T09:14:00.000-04:002006-09-06T09:20:05.573-04:00

Last week, during a downpour, I had a fender bender. As I was slowing down, my car hydroplaned and I ended up hitting the guard rail. Luckily, no one else was involved and the car was drivable after the accident. My car hit the guardrail on the front drivers side. The rail missed my bumper (unfortunately) and crumpled the hood (not too much), the side panel was smashed around the park light,

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com9tag:blogger.com,1999:blog-15934201.post-1157467282212667262006-09-05T10:35:00.000-04:002006-09-05T10:41:48.356-04:00

What a month! Investments faired well, I vested in my pension, and I made the most frivolous purchase of my lifetime as a sign of commitment to my fiancee. In the end I added $18,689 to my net worth ($1,261 excluding my vested pension adjustment). Assets Jul-06 Aug-06 Change % Cash & Savings $ 27,067.54 $

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1157053955941841372006-09-01T09:27:00.000-04:002006-09-01T09:33:18.986-04:00

Wow - time flies - It was one year ago this week that I published my first post that started 2millionblog! What a ride it has been so far. I have learned so much from my efforts to keep this blog running; it has truly been a great experience.To reminisce a bit, here are 12 topics I picked out from each month I have been running this blog - enjoy!In August 2005 I confessed my bad (but mostly

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1156382599292490582006-08-31T08:50:00.000-04:002006-08-31T08:56:14.073-04:00

So I had an idea of what my girlfriend likes and a price range of what I thought was reasonable to spend on the engagement ring. Now I had to figure out what I was looking for and what I willing pay for it.Unfortuntely for me, my girlfiend's favorite rings were designer brands sold in high end jewelry stores. No matter what size diamond I purchased, the style of ring she wanted with a designer

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com19tag:blogger.com,1999:blog-15934201.post-1155585459876942642006-08-30T14:49:00.000-04:002006-08-30T14:55:34.936-04:00

Before we got engaged a few weeks ago, my fiancee and I had been dating for almost 4 years. Future plans for us had been discussed many times over the course of our relationship, but our future was somewhat on hold given the career program I was in and the risk for several temporary assignments over the last 2 years.At the beginning of this year I knew it was time to step up to the plate. Being

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com81tag:blogger.com,1999:blog-15934201.post-1154999627938164472006-08-28T10:02:00.000-04:002006-08-28T10:07:53.450-04:00

After a couple of weekend excursions earlier this year, I was really nervous about our week long engagement trip in the beginning of August. I tend to treat vacations as a get away, and don't worry about money management during my time off. I normally shop around for a hotel or airfare before the trip, but once we were on the vacation, I put aside my money management hat and focus on having a

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com5tag:blogger.com,1999:blog-15934201.post-1156430462088459922006-08-24T10:35:00.000-04:002006-08-25T21:42:27.400-04:00

Last month, I wrote about the possibility of getting multiple Sharebuilder bonuses by opening multiple accounts.I was able to confirm this morning that I have now received my 3rd $50 Sharebuilder bonus by opening my 3rd account with them.This is a no-brainer way to take $50, invest it, and double your money. If you have kids, why not start an account to save some extra money for college, a

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com1tag:blogger.com,1999:blog-15934201.post-1156342481758900002006-08-23T10:09:00.000-04:002006-08-23T21:50:23.136-04:00

Got to love useful free stuff. Fill out the form to get a free Schick Quattro Titanium Razor. You can never have too many free razors because everyone has to shave (well at least they should).Credit goes to Slickdeals.

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com2tag:blogger.com,1999:blog-15934201.post-1156190255440720992006-08-22T11:49:00.000-04:002006-08-22T11:54:59.430-04:00

In the beginning of the year, I reviewed my 2005 passive income, mainly from dividend paying stocks I own.Here is the same list of companies (I still own stock in each) with any quarterly dividend hikes seen in 2006:   2005 Dividend 206 Dividend % Increase Ranking IBM $ 0.20 $ 0.30 50% 1

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com6tag:blogger.com,1999:blog-15934201.post-1155997659512146712006-08-21T12:41:00.000-04:002006-08-21T23:51:14.706-04:00

Since I recently hit 30 and I have had this nagging thought in my head that I should dig into my files to find my small collection of U.S. Savings Bonds. I mainly accumulated these bonds from gifts over the years and I want to see when they stop earning interest.Afterall, these bonds only collect interest for 30yrs, so if any of my wise family members gave me bonds growing up that they

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1156171701154210032006-08-21T10:43:00.000-04:002006-08-22T10:21:37.813-04:00

If you think you might have some US Savings Bonds, maybe as gifts from realatives over the years, but can't physically locate them, you can submit a request a list of U.S. Savings Bonds in your name. Here is a sample letter I put together to request a search be conducted:Bureau of the Public DebtAccrual Securities BranchPO Box 1328Parkersburg, WV 26106-1328Dear Sir/Ma’am,I would like to request

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com5tag:blogger.com,1999:blog-15934201.post-1155561679687692422006-08-16T00:06:00.000-04:002006-08-16T12:11:59.396-04:00

Cha-ching! Today I hit 5 years of service with my employer and vest in my cash balance pension plan. My employer currently contributes 5% of my salary to the pension account plus monthly interest on the balance.This pension is now worth at least $17,427.06 and will now be tracked in my net worth statements. Yeah ha! Thats a nice little bonus.While nothing has really changed this certainly

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com8tag:blogger.com,1999:blog-15934201.post-1155523103504592582006-08-14T11:49:00.000-04:002006-08-14T11:55:35.540-04:00

One of the benefits of having my temporary assignment in NY is the closer proximity to my grandparent's home. Taking advantage of a free weekend, I spent it visiting with my aging grandparents. While I think my grandparents are amazing people and they have been retired for over 20 years, up until recently I never thought about their finances. When I visit them they always pick up any dining

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com5tag:blogger.com,1999:blog-15934201.post-1155264150759275992006-08-11T11:31:00.000-04:002006-08-14T15:31:11.770-04:00

Fresh off a big vacation, my fiancee and I have decided to start a regular savings program for future vacations. We always talk about putting money aside for vacations, but in the end we haven't done it.So our plan now is to open a joint HSBC online savings account and setup small monthly contributions to a vacation fund. HSBC is currently yielding 5.05%APY and is offering a $25 Best Buy gift

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com4tag:blogger.com,1999:blog-15934201.post-1154999578965482482006-08-09T08:43:00.000-04:002006-08-09T08:48:30.070-04:00

Finally a month to get excited about! While this month's net worth change doesn't rank up there with the 5 figure increases I was seeing at the beginning of the year, it is a healthy $5,445 increase on a hectic month including one-time expenses related to my move to NY, some vacation expenses, and a down payment on an engagement ring (details to be discussed later). The most significant

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com6tag:blogger.com,1999:blog-15934201.post-1154879029341440372006-08-07T09:04:00.000-04:002006-08-07T09:09:18.526-04:00

I apologize for the lack of posts, my girlfriend and I took a 8-day road trip through the Northeast with stops in the Adirondacks; Quebec City, Canada; Golden Pond in Maine; Cape Cod; and Mystic Seaport, CT. We had an amazing vacation and enjoyed every part of it (except the rain while we camped in Cape Cod).On our last evening in Quebec City we took a stroll on the boardwalk overlooking the St

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com19tag:blogger.com,1999:blog-15934201.post-1148774363517134832006-08-02T10:19:00.000-04:002006-08-06T11:12:43.920-04:00

One of the hidden gems of my temporary assignment is I may be able to deduct many of my expenses from the temporary assignment on my income taxes. While this is a sizable opportunity to reduce my income taxes, there is little chance for me to come out ahead since these are tax deductions and not tax credits. My hope is to identify all the areas of opportunity so that I can maximize the value of

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com26tag:blogger.com,1999:blog-15934201.post-1152878803386348232006-07-24T08:45:00.000-04:002006-07-24T08:49:44.470-04:00

I have been able to confirm that you can take advantage of multiple Sharebuilder promotion codes for the same person for more free investments.I established a Sharebuilder account last year with a free $50 bonus and have been happy with it to date. I also consolidated my holdings from my Etrade account to my Sharebuilder account because I was so satisfied with the account.Recently I decided to

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com28tag:blogger.com,1999:blog-15934201.post-1153491903117420172006-07-21T10:20:00.000-04:002006-07-21T10:25:03.376-04:00

Here is a great post from Jeff at pfadvice that to me really gets at the heart of your opportunity cost when you buy something.I have gotten in the habit of everytime I make a discretionary expense I ask myself if its worth it. I always think this $50 that I am about to spend could buy a couple shares of a company and pay me a dividend of 4% or so (with opportunity for more) for the rest of my

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1153315060553827512006-07-19T09:24:00.000-04:002006-07-19T09:29:47.070-04:00

I just completed a couple investment purchases. Some stocks are looking very attractive to me and I wish I had additional cash on hand ready to make purchases. Here is what I have recently added to my portfolio: Company Ticker Cost Basis* Shares Ebay EBAY $504 18.926 IBM (in 401k) IBM $2500

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com4tag:blogger.com,1999:blog-15934201.post-1150405352749371812006-07-17T12:02:00.000-04:002006-07-17T12:07:49.670-04:00

While I have traveled a fair amount for my employer, I will now be flying home to NC on my own dime on a regular basis.This calls for a different routine to purchase flights as I want to keep the total trip cost as low as possible and want to make sure I am getting the best deal possible. I have already purchased a couple of tickets so far and have learned a great deal so far.SideStep is now the

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1150403936772513042006-07-14T07:52:00.000-04:002006-07-14T07:57:00.230-04:00

A lesson learned from my 1st house conversion to a rental property is to get organized now as I buy new house. I have realized I need to keep everything that affects the cost basis of the property in case I decide to sell it or convert it to a rental property.I have put together a 3-ring binder for this property that will track all the expenses that could potentially affect the cost basis.So far

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com5tag:blogger.com,1999:blog-15934201.post-1152627332517092192006-07-12T09:22:00.000-04:002006-07-12T09:26:29.123-04:00

Last month I realized that the 2 0% Balance Transfers that I was taking advantage of to earn interest in savings accounts were expiring and needed to be paid back in full. However, I was in the middle of purchasing my next property and didn't want to risk problems with obtaining financing by signing up for any new balance transfers until after the deal was complete.As soon as I closed on my new

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com24tag:blogger.com,1999:blog-15934201.post-1152481809255335242006-07-10T09:45:00.000-04:002006-07-10T09:59:49.416-04:00

Here's my net worth update for June as of 6/30/2006. I am disappointed that I was only able to eke out a sub $500 increase. Declines in IBM stock price (ESPP) and the transaction costs associating with the closing of my new property were largely responsible for the below average monthly net worth increase. However, my net worth change was still positive so I can't complain too much.

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com10tag:blogger.com,1999:blog-15934201.post-1149864093474496772006-06-30T09:12:00.000-04:002006-06-30T09:15:50.766-04:00

I can now say I own more than one property! I'm almost a land barron :) Closing was uneventful. Luckily the closing was only delayed a total of 6 days as a result of the last minute issue uncovered at the initial scheduled closing.Its pretty exciting; I am looking forward to turning this home into a positive cash flow property in a few years. Until then I have lots of projects including

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com6tag:blogger.com,1999:blog-15934201.post-1151498609155617122006-06-28T08:38:00.000-04:002006-06-28T08:43:29.926-04:00

As I previously mentioned, I walked away from closing because the appraisal on the property was not complete as I had been led to believe.A lot has happened since then:Lender: After being handed off many times, I finally was connected with someone who took ownership of the issue. Recognizing there was a miscommunication on the lender's part, we were able to discuss how we could get this

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com8tag:blogger.com,1999:blog-15934201.post-1149184407877059632006-06-26T09:20:00.000-04:002006-06-26T09:24:21.406-04:00

I and the seller met at the attorney's office for our scheduled closing. We sat down with the attorney to review the settlement statement. The attorney went line by line through the statement identifying each line item. Everything looked good until we got to the appraisal line item.The appraisal line was marked for $50. I stopped the attorney and said I don't think that is correct, I know the

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com11tag:blogger.com,1999:blog-15934201.post-1150930578157104632006-06-22T09:03:00.000-04:002006-06-22T09:07:25.023-04:00

I have been trying to understand the implications of renting all or part of my new property while I am on my temporary assignment. I will be away for the rest of the year and hope to rent out some portion of my house while I am gone to help offset some of my living expenses while on my temporary assignment.I have some experience converting a previous primary residence to a rental property so I

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com19tag:blogger.com,1999:blog-15934201.post-1150379699350281772006-06-19T08:55:00.000-04:002006-07-25T01:04:17.946-04:00

When I and the seller negotiated for the home I am purchasing we did the contract negotiations entirely over email. This gave me a written record of everything that happened and presents a great opportunity to do a post mortem to see what worked and what I can do differently to get a better deal when I purchase my next property.Background information: The house was listed initially at $139,900

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com14tag:blogger.com,1999:blog-15934201.post-1150404426866128002006-06-16T09:45:00.000-04:002006-06-16T09:49:05.120-04:00

Whew! After getting over the sticker shock of rental prices in NY, I have reached an agreement to rent a room for $800/month. This is above the most likely estimate I was shooting for paying in rent, but I think I did better than it initially appears.Rent includes all utilities - I am not even sure what this would have cost me, but with internet and cable this would have cost me at least $100/

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com3tag:blogger.com,1999:blog-15934201.post-1150291223970386242006-06-14T09:17:00.000-04:002006-06-14T13:03:33.143-04:00

I have previously wrote about a little gotcha with my 401(k) plan that causes me to miss a portion of my employer's 401(k) unless I time my contributions perfectly. I got word this morning that my employer is announcing a 401(k) Match Maximizer that will provide the full employer match regardless of when you hit the IRS contribution limit that is retroactive to January 1, 2006.This feature helps

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com8tag:blogger.com,1999:blog-15934201.post-1147375351683938712006-06-12T09:07:00.000-04:002006-06-12T09:10:50.583-04:00

I got a call from the mortgage lender to let me know that my loan didn't need an appraisal for approval. Huh? I never heard of this. Apparently Fannie Mae has this option to waive an appraisal when you get a loan. They have a computer system that they run your purchase price, the property being purchased and supposedly your creditworthiness to determine what the risk is of the property not

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com23tag:blogger.com,1999:blog-15934201.post-1149864041494119402006-06-09T10:51:00.000-04:002006-06-09T10:55:11.426-04:00

I hate checks. Checks are expensive, I usually have to use a stamp to give someone a check, and they are a hassle to use. If I need to pay someone I always try to pay with a credit card (when no extra fees), make an electronic transfer (for bills), or use my bank's free online billpay service. If all else falls I then have to break out the checkbook. Unfortunately I have finally come down to

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com10tag:blogger.com,1999:blog-15934201.post-1149691052874955192006-06-07T10:30:00.000-04:002006-06-07T10:37:59.786-04:00

I ended up pulling $5,500 from the HELOC on my 1st house to avoid any liquidity issues with paying off both 0% balance transfers and trying to stretch and put 20% down on the house I am trying to purchase. This should give me about $1,000 more cash than I will need to accomplish all these things.The current interest rate on the HELOC is 7.75% and its variable so I will immediately begin to pay

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com0tag:blogger.com,1999:blog-15934201.post-1149470156637246872006-06-05T08:31:00.000-04:002006-06-05T08:35:19.403-04:00

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 $

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com6tag:blogger.com,1999:blog-15934201.post-1149203414964292822006-06-02T08:49:00.000-04:002006-06-02T09:06:04.186-04:00

Maybe Im getting old, but I have one pair of good shoes that I wear day in and day out. After a year, they are pretty much worn out and I need to replace them.Since I buy the same shoes everytime (getting old and boring I guess), I have been a big fan of Shoebuy.com the last few years. I have been holding off on buying a new pair for awhile because every once and awhile Shoebuy.com comes out

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com10tag:blogger.com,1999:blog-15934201.post-1148003485584165892006-05-30T08:49:00.000-04:002006-05-30T08:52:26.583-04:00

Even though I have agreed to take a temporary assignment for my employer which will significantly increase my living expenses during the period, I have a couple ideas on how I can minimize the damage:1.) My employer will cover the costs of moving myself and my stuff up for my assignment. It makes sense to me to try and convince them that they can save money by assisting with furniture rental

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com3tag:blogger.com,1999:blog-15934201.post-1148519324716513012006-05-26T09:43:00.000-04:002006-05-26T09:47:03.343-04:00

Part of the mortgage package I got from the lender included my credit report that was used as part of my application. This was the first time I have ever seen all three of my credit scores at the same time. It also included key factors with each score that adversely affected my credit score:Equifax 740-Proportion of balances to credit limits is too high on bank revolving or other

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com8tag:blogger.com,1999:blog-15934201.post-1147889732847349372006-05-24T08:22:00.000-04:002006-05-24T08:25:18.546-04:00

Talk about bad timing. I just realized that BOTH my 0% balance transfers expire within days of when I am trying to close on my mortgage. While I have a fair amount of cash, enough to pay off both 0% balance transfers and then some, I don't have enough to pay off both 0% balance transfers, pay a 20% down payment, and pay for the closing costs.Why put 20% down?It all works out the same in the end

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com9tag:blogger.com,1999:blog-15934201.post-1147230792407705292006-05-22T09:04:00.000-04:002006-05-22T09:07:41.203-04:00

I have finally started my next big step in reaching my $2 million net worth goal. I have reached an agreement with a seller to buy a small 3 bedroom home!I am very excited at the prospect of finally purchasing my next property in Raleigh, NC. I have been actively searching for over 5 months and this was the 4th home I made an offer on. It was a very challenging environment for me to operate in

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com13tag:blogger.com,1999:blog-15934201.post-1147828832612661662006-05-17T08:04:00.000-04:002006-05-17T08:08:56.390-04:00

As I previously mentioned I am going on a temporary assignment to NY for the rest of this year. I know this going to affect my monthly expenses for the rest of the year, but how bad will it be?I don't know the answer yet, but doing some basic research I can put together some numbers to give me a rough idea of what my additional expenses will be:Anticipated Additional Expenses for Temporary

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1147668138467254522006-05-15T01:02:00.000-04:002006-05-15T14:54:46.393-04:00

Welcome to the Carnival of Personal Finance, now in its 48th week!If this is your 1st time at 2millionblog, you can learn more about this blog, or find a semi-up-to-date index of personal finance articles.My attempt at having a portion of the carnival focused on a particular personal finance subject manner was a small success, there were several submissions related to the ins and out of 401(k)s.

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com159tag:blogger.com,1999:blog-15934201.post-1147438025863502582006-05-12T08:44:00.000-04:002006-05-12T11:38:09.703-04:00

I have been lazy in keeping up with the blogroll on 2million. If your interested in exchanging blog links make sure you drop me an email @ 2millionblog@gmail.com. As long as your blog is slightly related to personal finance I'm willing to add you to the blogroll on this blog.If your interested, add a 2million.blogspot.com link to your blog and email me with your site information and I'll do my

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com6tag:blogger.com,1999:blog-15934201.post-1147059740489062732006-05-10T08:10:00.000-04:002006-05-10T10:26:00.490-04:00

It turns out that my transfer request of assets to Sharebuilder from Etrade is complete. In fact Sharebuilder impressed me again by having the stocks in my Sharebuilder account within 11 days of sending my transfer request in.I'm happy to report that it looks like I was able to reduce my total transfer expense by qualifying for a partial transfer of assets. I just requested they transfer each

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com17tag:blogger.com,1999:blog-15934201.post-1147050394258571022006-05-07T21:04:00.000-04:002006-05-07T21:06:34.510-04:00

I am excited to be hosting my first carnival next week. The Carnival of Personal Finance will be passing through here at 2millionblog. I would like to "theme" next week's carnival around a personal finance topic, the 401k. I would like to encourage everyone to submit any posts related to 401ks in any way, shape, or form. Anything from the ins and outs of the 401k plan, the good, bad or ugly

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com8tag:blogger.com,1999:blog-15934201.post-1146861249715878422006-05-06T09:01:00.000-04:002006-05-06T09:04:12.446-04:00

I will be taking a temporary assignment in Poughkeepsie, NY for the remainder of the year! This will be a big change with huge impacts both in my personal life and my financial goals.I will be taking this assignment as part of a development program I am participating in at work. I'm pretty excited about the opportunity; on the one hand it will be great to get away and spend sometime in a

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com13tag:blogger.com,1999:blog-15934201.post-1146698366197840122006-05-05T09:16:00.000-04:002006-05-05T09:25:34.410-04:00

I don't know how many 401(k) plans offer this feature, but IBM's plan allows employees to contribute up to 10% of their salary (on an after-tax basis) to their 401(k). These after-tax contributions are not part of a Roth 401(k) feature, nor do they count towards the IRS 401(k) pre-tax contribution limit ($15,000 in 2006).From the 401(k) Manual:"If you choose to contribute to the plan on an

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com27tag:blogger.com,1999:blog-15934201.post-1146619893935187392006-05-03T08:53:00.000-04:002006-05-03T12:57:06.256-04:00

Here's my net worth update for April as of 4/30/2006. Another good month, however a big chunk of my gain is due to an accounting correction for tax liability. Ignoring this adjustment, I gained $6,799 for the month.   Mar-06 Apr-06 Change % Cash & Equivalent $ 9,422.55 $ 6,888.35 $ (2,534.20)

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com4tag:blogger.com,1999:blog-15934201.post-1145497911130472062006-05-01T10:00:00.000-04:002006-05-01T20:32:31.836-04:00

If you are looking for a great source on information on taxes and rental properties, I have some recommendations for you. I have just finished reading both of these books and between the 2 of them I feel they have answered all my tax questions regarding my rental property and then some.Every Landlords Tax Deduction GuideBy Stephen Fishman, Nolo BooksThis was the best book I have found yet to

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com14tag:blogger.com,1999:blog-15934201.post-1145497929926254992006-04-28T10:01:00.000-04:002006-04-28T10:03:49.103-04:00

As part of my action plan to improve my returns, I decided to sell my holdings in Bellsouth. With the recent stock price movement from the planned merger with AT&T, I thought it was a good opportunity to move my investment dollars to help round out my portfolio.While I haven't really posted much details about my stock investment asset allocation, I already know I am underexposed to smallcaps and

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com12tag:blogger.com,1999:blog-15934201.post-1146008667120651402006-04-27T13:22:00.000-04:002006-04-27T13:24:37.173-04:00

At the end of last year, I made an accounting adjustment for what I estimated my additional tax liability might have been for 2005. There was a great deal of uncertainty for me on how I was going to treat my rental property for 2005 so I conservatively estimated my additional liability would be $3,000. I thought this would more accurately reflect my true net worth.It turns out I was way off.

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com3tag:blogger.com,1999:blog-15934201.post-1145498388877649252006-04-26T08:20:00.000-04:002006-04-26T08:23:01.093-04:00

I have decided to consolidate some of my DRIP and brokerage accounts to simplify my finances and reduce account fees. Since I am most frustrated with my Etrade account I decided to start by pulling everything out of this account and transferring it to my Sharebuilder account.Here is the progress I have made so far:1) I decided to do this now since its the beginning of the quarter which should

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1143390335329650472006-04-24T14:38:00.000-04:002006-04-24T14:40:15.530-04:00

Last August I opened a Sharebuilder account with a $50 deposit to give it a test drive. In addition, I recently started an investment in Johnson & Johnson in my account.Overall I am very pleased with my Sharebuilder account. When you consider the cost to buy stock is $4 vs $15.95 for my Etrade account its hard not to like that fact that your savings money.Sharebuilder Pros-A $4 purchase fee is

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com20tag:blogger.com,1999:blog-15934201.post-1145582867801570642006-04-21T08:49:00.000-04:002008-01-22T21:45:58.188-05:00

Vanguard, like many investment management companies has personalized levels of service for their clients with significant assets. For instance, clients with $1 million or more at Vanguard qualify for the Vanguard Flagship Service or clients with $250,000 to $1 million get the Vanguard Voyager Service. I recently found out that I now get the Vanguard Voyager Service which basically qualifies me

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com9tag:blogger.com,1999:blog-15934201.post-1141949856282276822006-04-19T08:55:00.000-04:002006-04-20T13:03:00.013-04:00

To recap, here is a summary of my total net worth and eash asset class returns for 2005: Asset 12/31/2004 Return RoR Retirement Accounts $ 62,360 $ 8,331 13.36% Net Cash Accounts $ 77 $ 778 1012.10% Investment Accounts $ 26,262

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com9tag:blogger.com,1999:blog-15934201.post-1144194745042769872006-04-17T09:24:00.000-04:002006-04-17T09:26:25.436-04:00

I currently have a Wachovia Express Checking account with a Ready Reserve account that acts as overdraft protection. I opened these accounts in college and have used them ever since. I have been very happy with these Wachovia accounts. I pretty much do all my banking at the ATM or using the Free Online Billpay service that Wachovia offers. I recently decided I needed to open a second Wachovia

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com10tag:blogger.com,1999:blog-15934201.post-1144792026579339072006-04-12T09:34:00.000-04:002006-04-12T09:42:52.320-04:00

This week I am on a business trip for work and have already earned a $250 AA travel voucher and a $10 meal voucher from American Airlines. All I had to do was volunteer to get "bumped" off the flight to my destination and catch the next flight that was 2hrs 7min later. In effect I earned over $100/hr by sitting around and eating $10 in free food. I am hoping I might be able to pick up one more

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com6tag:blogger.com,1999:blog-15934201.post-1144611097143325522006-04-10T09:10:00.000-04:002006-04-17T09:41:15.553-04:00

Over the weekend I finished my 2005 federal income taxes. This was the most complex return for me due in part to the mid-year conversion of my house to a rental property.Background WorkPrior to finishing my 2005 taxes this weekend, I had started some work to get to this point:-I had purchased Taxcut for $8.96 after rebates to help me with this year's taxes.-At the end of 2005 I reserved $3,000 of

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com11tag:blogger.com,1999:blog-15934201.post-1134702353178608582006-04-07T10:11:00.000-04:002006-04-07T10:13:53.116-04:00

I opened an Etrade brokerage account back in 1996 and loved the lower commissions and easy access to trading. Now adays Etrade seems to have higher commissions than their competitors and I think the customer service is horrible. With my latest series of Etrade problems, I have had enough.Back in November I logged into my Etrade brokerage account and was just reviewing my account activity and was

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com52tag:blogger.com,1999:blog-15934201.post-1141949661862317452006-04-05T08:33:00.000-04:002006-04-05T08:36:01.393-04:00

In the 1st part of this series I determined that the total return for my net worth was a measly $2,094. In the 2nd and 3rd parts, I found my retirement and cash accounts had respectable returns of $8,331 and $778 respectively, for the year. In the 4th and 5th parts, I found my stock and company ownership investment accounts had an embarrassing returns of -$685 and -$8,892.The last piece of my

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1144030735078223792006-04-03T08:56:00.000-04:002006-04-03T09:48:55.026-04:00

Here's my net worth update for March as of 3/31/2006. Its my first 5 digit monthly increase this year. However, I received my annual bonus from IBM this month which accounts for a significant portion of this month's gains.   Feb-06 Mar-06 Change % Cash & Equivalent $ 3,923.09 $ 9,422.55 $

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com8tag:blogger.com,1999:blog-15934201.post-1143780397056853472006-03-31T09:24:00.000-05:002006-03-31T09:26:33.490-05:00

Here is my current asset allocation for all the assets on my balance sheet (just assets; this ignores liabilities). I don't have cars or personal property listed on my balance sheet so it won't show up here either. I suspect my allocation has a rather high percentage in stocks compared to most out there. 42.5% ($160,000) - Real Estate:My rental property is my entire allocation to real estate.

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com12tag:blogger.com,1999:blog-15934201.post-1143391636713459982006-03-29T09:58:00.000-05:002006-03-29T10:00:20.103-05:00

I have a suspection that a majority of those that are truely wealthy share this trait. With the exception of many of the millionaire/billionaires created by stock options or inheritances I bet some form of frugality exists with all of them.IKEA founder Ingvar Kamprad, ranked 4th richest man in the world, drives a 15-year-old car and always flies economy class, in part to inspire his 90,000

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com11tag:blogger.com,1999:blog-15934201.post-1143469785929193312006-03-28T12:11:00.000-05:002006-03-28T13:09:21.176-05:00

As you probably know, Netflix and Blockbuster both offer these great 30-day trials of their monthly rental subscriptions. I recently completed my free trial at Blockbuster and wanted to share my experience.1) Sign up - (see below for details), No issues for sign up, they do ask for a credit card and I am always skeptical of a free trial that requires a credit card, but I was able to cancel

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com15tag:blogger.com,1999:blog-15934201.post-1143501497770633112006-03-27T18:14:00.000-05:002006-03-27T18:18:18.740-05:00

Sorry, I am on a freebie kick today. If you have a dog (my girlfriend has one so I am a proud parent too), sign up for these free samples of IAMS Tartar Treats.Free IAMS Tartar Dog Treats

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com0tag:blogger.com,1999:blog-15934201.post-1143428253245230232006-03-26T21:55:00.000-05:002006-03-26T21:57:42.090-05:00

Change your own oil? Get 5 Quarts of Valvoline Maxlife Oil free after rebate.5 Quarts Valvoline Maxlife Oil RebateI typically change my own oil, but thats only because I have a stockpile of oil I have gotten for free after rebate that I have been using for years. This rebate is apparently also good on Maxline Full Synthetic Oil.If you have someone else change your oil - here is a rebate for $7

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com1tag:blogger.com,1999:blog-15934201.post-1143345103009479772006-03-26T18:27:00.000-05:002006-03-26T18:30:32.043-05:00

Welcome to the redesigned 2millionblog.com site. Over the last couple weeks I have been focusing my time on trying to take advantage of some of the site's unused real estate and update the site's layout to provide more direct linking to the stuff you are most interested in. I have also been thinking about the future direction of this site and have left some room to "grow" into over time.I hope

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com19tag:blogger.com,1999:blog-15934201.post-1142993749409369262006-03-22T08:48:00.000-05:002006-03-22T08:59:55.433-05:00

I have previously written about these little known beer rebates, but this one blows the others away. I just found this rebate at the local Food Lion (grocery store) the other day.This rebate is good in AL, AR, HI, IN, KY, MD, ME, MO, NC, NJ, NY, SD, UT, VT, and WV for Ice, Fresh Food, or Frozen Food with no beer purchased required. Basically you can buy anything that's edible and get a $5

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com6tag:blogger.com,1999:blog-15934201.post-1142638982785086572006-03-17T18:36:00.000-05:002006-03-19T09:21:22.020-05:00

EmigrantDirect's Online Savings Account has boosted its rate to 4.50% APY. This tops both ING Direct and HSBC as the highest (non promotional/temporary) interest rate available. I have most of my short term savings and 0% Balance Transfers in my Emigrant Direct savings account.

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1142201001464050652006-03-13T08:48:00.000-05:002006-04-03T22:38:31.690-04:00

Earlier I calculated that the total cost basis for my rental property was $162,042.00. I have done some weekend tax reading and it looks like there are several ways to maximize the depreciable parts of my cost basis.Essentially the breakdown of the cost basis looks something like this:[Cost Basis]= [Personal Property included in sale] + [Real Property] + [Land Improvements] + [Residential

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com8tag:blogger.com,1999:blog-15934201.post-1141159054048655732006-03-10T14:10:00.000-05:002006-03-12T19:30:48.043-05:00

In 2005 I converted my home to a rental propety. In preparation for preparing my taxes this year, I need to establish my cost basis for the property. I paid $160,000 for this property. However, I have read in multiple sources that I can add some of the closing costs to the cost basis of my property. Mainly, I can add transfer taxes, title insurance, attorney fees, survey costs, and termite

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com11tag:blogger.com,1999:blog-15934201.post-1141702758973417362006-03-10T08:39:00.000-05:002006-03-10T14:33:20.163-05:00

In the 1st part of this series I determined that the total return for my net worth was a measly $2,094. In the 2nd and 3rd parts, I found my retirement and cash accounts had respectable returns of $8,331 and $778 respectively, for the year. In the 4th part I found my stock investment accounts had an embarrassing return of -$685 .I decided to review my holdings of my employer (IBM) separately. I

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com6tag:blogger.com,1999:blog-15934201.post-1141008067161548262006-03-08T13:43:00.000-05:002006-03-08T13:32:59.493-05:00

In the 1st part of this series I determined that the total return for my net worth was a measly $2,094. In the 2nd and 3rd parts, I found my retirement and cash accounts had respectable returns of $8,331 and $778 respectively, for the year.Now I turn to my investment accounts. I have a brokerage account at Etrade and a sizeable number of Dividend Reinvestment Plans. I will looking at my holdings

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com16tag:blogger.com,1999:blog-15934201.post-1134342188997847472006-03-07T14:40:00.000-05:002006-03-22T19:34:44.020-05:00

This month I have hit a personal finance blog milestone. As you know the focus of this blog is to track my journey to financial freedom. I have defined this goal as a net worth of $2 million plus the value of my primary residence. Since I currently don’t own my primary residence I have to roughly estimate my future primary residence will be worth around $250,000. I am happy to announce I have

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com18tag:blogger.com,1999:blog-15934201.post-1141605665435073452006-03-06T10:07:00.000-05:002006-03-06T08:45:59.456-05:00

Here's my net worth update for February as of 2/28/2006. I'm happy to report another solid month of gains. At this rate I have underestimated my 2006 financial goals and may need to revise them to challenge myself further for the rest of the year.   Jan-06 Feb-06 Change % Cash $ 8,322.69 $ 3,923.09 $

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1141346301540580502006-03-02T20:34:00.000-05:002006-03-02T20:25:09.570-05:00

This week's issue of BusinessWeek includes an article Follow My Money, by Jessi Hempel, which profiles Jonathan Ping, author of My Money Blog. It also mentions several other personal finance bloggers and related sites including yours truely and:Make Love Not DebtNYC MoneyMy Open WalletBoston Gals Open Wallet

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com3tag:blogger.com,1999:blog-15934201.post-1141182652638139672006-03-01T08:16:00.000-05:002006-03-01T08:13:08.573-05:00

In the 1st part of this series I determined that the total return for my net worth was a measly $2,094. In the 2nd part, I found my retirement accounts had a respectable return of $8,331 for the year.Now I want to see what return I had on my cash investments. Basically I am accounting for all the available cash I held in checking, savings, and money market accounts in 2005. Since some accounts

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com4tag:blogger.com,1999:blog-15934201.post-1140723455032054782006-02-27T08:53:00.000-05:002006-02-27T09:21:17.443-05:00

In the 1st part of this series I determined that the total return for my net worth was a measly $2,094. Its a painful pill to swallow and after crunching the numbers, my head immediately filled with logical explanations/excuses as to why this number is so low. Rather then pass them on, lets dig into my net worth and see whats behind this number.I'll start by taking a look at my retirement

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com4tag:blogger.com,1999:blog-15934201.post-1140487181707425182006-02-22T11:02:00.000-05:002006-02-22T16:55:49.773-05:00

It is finally time for me to sift through all the financial data I have for 2005 and begin to understand how my portfolio worked for me in 2005. My net worth went from $157,340 on 12/31/2004 to $206,990 on 12/31/2005 - this should be pretty easy, right?No way. I have been scratching my head trying to understand how I should handle reinvested dividends, additional investments throughout the

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com23tag:blogger.com,1999:blog-15934201.post-1140060714409371662006-02-17T00:10:00.000-05:002006-02-16T21:53:22.033-05:00

Since I am actively searching for a home at the moment I was eager to jump into this book. I had never read the bestseller "The Automatic Millionaire" by the same author, but I am famaliar with the principals and was eager to see what insight the author had for the real estate world.I read this book in a single evening. After reading the entire book I finished disappointed. Since I am activing

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com12tag:blogger.com,1999:blog-15934201.post-1140059329185582692006-02-16T12:43:00.000-05:002006-02-16T12:35:34.770-05:00

I wanted to take this opportunity to define a book rating system for this blog. I want to be able to convey more than whether a book is good or bad, so I thought I could rate a book on several measures to give you greater insight into the benefit of (or lack there of) reading the book.I am going to rate each book on a scale from 1 to 5 stars for each measure. I also will try and identify the

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com2tag:blogger.com,1999:blog-15934201.post-1139926803675060532006-02-14T16:44:00.000-05:002006-02-14T16:42:17.990-05:00

If you are a regular reader you know I have been a fan of pharmaceuticals for awhile. I have been steadily adding to my holdings of Pfizer and Merck for the last several years. However I am also a fan of the whole healthcare industry.My Healthcare Portfolio Holding Ticker Est Act Value Plan Merck MRK $ 4,500.00

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com10tag:blogger.com,1999:blog-15934201.post-1139363047207060422006-02-08T08:19:00.000-05:002006-02-08T08:21:24.260-05:00

Based on requests, I thought I would give you more information about my personal history. My life's choices has a lot to with my journey to financial freedom so I think its important to know more of my background to better understand how I got to where I am today.I graduated with a BS degree in Computer Science in December 1998. I was just like any other college student, broke, but I was

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com13tag:blogger.com,1999:blog-15934201.post-1138891800318284302006-02-03T07:23:00.000-05:002006-02-03T08:49:17.723-05:00

Based on requests from visitors, I have decided to compile my own guide to taking advantage of the credit card companies' 0% Balance Transfer Offers. I hope this guide will help everyone understand how to maximize the value of these offers and help boost your earnings for the year. If anyone has additional suggestions or tips - please post them in the comments.What is a 0% Balance Transfer

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com38tag:blogger.com,1999:blog-15934201.post-1138762881705641772006-02-01T08:07:00.000-05:002006-02-02T15:15:34.456-05:00

Here's my net worth update for January as of 1/31/2006. It a great way to start the year and I am well on my way to reaching my year end net-worth goal of $265,000.   Dec-05 Jan-06 Change % Cash $ 6,767.92 $ 8,322.69 $ 1,554.77 22.97% Saving $ 31,578.16 $

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com23tag:blogger.com,1999:blog-15934201.post-1138548603932675132006-01-30T07:56:00.000-05:002006-01-30T07:55:14.653-05:00

Last year, I discovered my credit score was taking a small beating from taking advantage of several 0% balance transfer credit cards offers. I used these interest free loans to earn interest in higher yield online savings accounts like this one from HSBC Bank.At the time I had several credit card accounts with outstanding 0% balance transfers on them and as a result my score was approximately

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com16tag:blogger.com,1999:blog-15934201.post-1136927241872568432006-01-27T08:18:00.000-05:002006-01-27T09:07:39.246-05:00

I have been looking forward to this time of the year, because I can finally put together the full numbers for 2005 and look for good or bad trends and areas I might be able to improve.Let me start with a chart of my monthly net worth for 2005. I started the year with a net worth of $157,340 and ended the year with a net worth of $206,990.On the surface this chart looks pretty healthy, net worth

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com13tag:blogger.com,1999:blog-15934201.post-1138220964714035392006-01-25T15:14:00.000-05:002006-01-25T15:29:35.856-05:00

With all the new visitors that have stopped by this blog recently I thought it would be a good idea to revisit some of the basics of this blog.1) Reads this blog's disclaimer.2) This blog is a record of my journey to financial freedom. I have defined this goal as a net worth of $2 million plus the value of my primary residence. I figure with $2 million in investable assets I should be

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com7tag:blogger.com,1999:blog-15934201.post-1138126400506757912006-01-24T09:01:00.000-05:002006-01-24T13:13:20.926-05:00

According to a British psychologist, today (January 24th) is the most depressing day of the year. This is due to many factors converging this time of the year - among them is the realization of the debt accumulated from overspending during the holidays.I tend to overspend like everyone on the holidays, but I do set a budget for holiday shopping and try not to exceed it by very much. Overall I

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com1tag:blogger.com,1999:blog-15934201.post-1136255912687558272006-01-23T07:14:00.000-05:002006-01-23T07:15:08.896-05:00

So where am I at with my passive income? After all this is just as important as measuring my net worth, if I can't generate enough income to pay for my living expenses, that I won't be financially free no matter what my net worth is.2005 was a great year for me to increase my annual passive income. I continued to make some strong long term investments in pharmaceuticals with high dividend yields

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com11tag:blogger.com,1999:blog-15934201.post-1137858515036965632006-01-21T10:48:00.000-05:002006-01-21T11:03:37.793-05:00

If you haven't seen it, this week's issue of Business Week (January 30th, The Future of Outsourcing) has a small blurb on 2millionblog.com.It refers to a recent post on how I saved money on a car repair by buying the car parts myself and having the mechanic install them.Welcome BusinessWeek readers! Be sure to check out this post to find a great index of topics for 2millionblog. Thanks for

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com15tag:blogger.com,1999:blog-15934201.post-1137782218359598222006-01-20T13:39:00.000-05:002006-01-20T13:36:58.600-05:00

Since I purchased Taxcut Deluxe for a net $8.96, several better deals have surfaced:1) Free Taxcut Standard - my coworkers tell me its just as good as Taxcut Deluxe - just doesn't have as many of the videos I don't use anyway. Sounds like it is still ok to use for investment and rental property. Its a free download for federal only, but once you have your federal done, state is usually easy for

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com3tag:blogger.com,1999:blog-15934201.post-1137348031109713872006-01-20T09:44:00.000-05:002006-01-20T09:43:38.996-05:00

This year I expect to begin receiving an insignificant amount of self-employment income from this blog and other activities. I only expect it to be somewhere in the neighborhood of $100-$500 depending on how much time I put into everything. However, I still want to make sure I keep track of all income and expenses so I can report it accurately when tax time comes around.So far I have uncovered

2millionhttp://www.blogger.com/profile/17168782327023590235noreply@blogger.com2