jump to navigation

Net Worth – March 2008 March 30, 2008

Posted by pf in Net Worth Update.
Tags: , , , , , , , , ,
trackback

One year ago, I posted my very first net worth update. At that time, my net worth was $515,583. As I post the update for this month, I am currently at $577,487. In that time period, I have improved my net worth by just over 12%. While not a “lights out” gain, I think it’s very solid and would count myself very fortunate if I were able to sustain it throughout my lifetime.

As I look at the past year, I noticed that I increased my assets by about 8%, while barely showing any progress on reducing my overall liabilities in terms absolute dollars ($244,634 in 2007 vs. 244,009 in 2008). I would like to see this a bit higher, but would not expect huge gains as:

  • Almost 95% of my overall liability is mortgage debt and will only be drawn down gradually over the course of a year (I’m not trying to accelerate the payoff)
  • I do participate in some credit arbitrage (have significantly increased my credit card balance versus a year ago)

However, the ratio of my debt to assets has been reduced by 2% (32% to 30%). This is a difference of about $16,500 (ie – I would have that much more debt if I maintained the same ratio as in 2007). All in all, I think I’m moving in the right direction. Of course, the last year is just a small data point in time.

Anyway, let’s get to this month’s update. As you can see, we had a nice little gain in March. As I mentioned in the February update, this was somewhat expected as tax returns, work bonus, and tax rebates start making their appearance in the results. Otherwise, March was a fairly quiet month. Here’s the breakdown:

NET WORTH FOR MARCH

2 Mo Ago
Jan – 07
Last Month Feb – 08 This Month Mar – 08 Monthly Change Monthly Change %
Cash 132,594 130,899 152,888 21,989 16.80%
401(k)/IRAs 240,864 248,376 248,608 232 0.09%
Home 290,000 290,000 290,000 0 0.00%
Other Real Estate 130,000 130,000 130,000 0 0.00%
Total Assets 793,458 799,275 821,496 22,221 2.78%
Home Mortgage 125,200 124,439 123,675 -(764) -0.61%
Other Mortgage 107,656 107,373 107,054 -(319) -0.30%
Credit Card 4,990 11,431 13,280 (1,849) 16.18%
Other 0 0 0 0 0.00%
Total Liabilities 237,846 243,243 244,009 (766) 0.31%
NET WORTH 555,612 556,032 577,487 21,455 3.86%

MARCH HIGHLIGHTS

  • Fed continued to cut rates. I already made preparations for such events a few months ago and have a large stake of cash sitting in CDs making 5+%
  • Tax refund, work bonus, and tax rebate starting to show up – welcome boost to net worth
  • Stock market volatility continues
  • Made a 2008 Roth IRA contribution of $2500
  • Credit card arbitrage in full swing – balances going up

APRIL PREVIEW

  • Hold the line on expenses
  • Stream line payment of expenses (too much moving around of funds and inadvertently getting hit with some late fees)
  • Spring finally arrives?
Advertisements

Comments»

1. Net Worth: How Am I Doing? « My Personal Finance Odyssey - March 31, 2008

[…] Net Worth – Mar 2008 […]

marcus anthony bynum - April 17, 2012

the financial stability oversight council, headed by timothy geithner , approved a final rule to help the panel determine which non-bank financial firms are systemically important and require federal reserve scrutiny. what small business management services are available success story national winner southwestern oklahoma state university – sbdc top service excellence and innovation center team travel to washington d.c to accept their award you’ve started your own business- congratulations! small business training network counseling- technical assistance … summarize your idea remember the following about any idea a new business.. summarize your business idea 50 words or less…who must obtain a sellers permit ? are engaged in business in california? what does engaged in business mean?are my business records subjrct to audit a message from the director…

2. marcus anthony bynum - May 25, 2013

cruise terminal finances under water more revenue from ships , parties or parking needed to offset future costs…..

3. marcus anthony bynum - June 28, 2015

county executives propose $3.8 billion fy 2016 budget : plan for 2017 .. In Fairfax v.a the government has a proposed bill 2016 budget plan… I looked at the 2016 budget plan pdf file it looks like that the department of family services can the vol 1 going on… the family services child care division : with many children living below poverty level and high percentage of working parents , providing access to affordable , quality early care….

4. marcus anthony bynum - June 28, 2015

Also the department of family services have children , yuth and families division : nationally and in Fairfax county , fewer children are being removed from families and placed into foster care…the slow economic recovery in the northern Virginia region has also affected Employment and training services.. Fairfax county unemployment rate was 4.6 percent….

5. bynumforeigncurrencymarcus anthony bynum - July 1, 2015

the northern virginia family services joined with local companies to encourage family – friendly policies to help employees achieve a better work – life balance… the care awards are a way to recognize companies whose progressive polocies support employees and families…. special events ,, employee engagement , healthy lifestyles, recognition and talent development, lower attention rates, flexible work arrangements, improved communications, high employee morale improves work production , benchmark for corporate best practices , strenthen family and community with family- friendly work policies….


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: