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Net Worth – May 2008 May 31, 2008

Posted by pf in Net Worth Update.
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Well, another milestone achieved as we have finally surpassed $600K in net worth. I had eclipsed $500K in March 2007, and so it took me just a tad bit over a year to make the next one. I’ll take it. Unless the stock market takes off, I am not expecting to achieve the same kinds of gains I’ve had the last couple of months. Gains made possible by a perfect brew of stock market gains (feeling like I actually benefited from some of my investments made in January), year end bonuses, and tax refunds.

Now that we are in summer, we are engaged in the typical activities like yardwork, BBQ, and the ice cream man. As far as spending is concerned, although nothing exciting to report this month, we will have some fairly significant expenditures coming up very soon…not the least of which will be our property taxes. To that extent, I could actually see a drop…bah.

Anyway, let’s get into the thick of it:

Results at Networth IQ

NET WORTH FOR MAY

2 Mo Ago Mar – 08 Last Month Apr – 08 This Month May – 08 Monthly Change Monthly Change %
Cash 152,888 144,405 152,461 8,056 5.58%
401(k)/IRAs 248,608 273,651 282,474 8,823 3.22%
Home 290,000 290,000 290,000 0 0.00%
Other Real Estate 130,000 130,000 130,000 0 0.00%
Total Assets 821,496 838,056 854,935 16,879 2.01%
Home Mortgage 123,675 122,909 122,139 -(770) -0.63%
Other Mortgage 107,054 106,716 106,445 -(271) -0.25%
Credit Card 13,280 9,754 3,532 -(6,222) -63.79%
Other 0 0 0 0 0.00%
Total Liabilities 244,009 239,379 232,116 -(7,263) -3.03%
NET WORTH 577,487 598,677 622,819 24,142 4.03%

MAY HIGHLIGHTS

  • In April I asked “may I order another please?” – the net worth gods delivered
  • Well into $600K territory…would like to reach $700K at a faster pace
  • Tax refund arrives
  • Playing “small ball” with credit cards…not carrying big balances
  • Summer has finally arrived

JUNE PREVIEW

  • Won’t be greedy and ask again (although tempting)…stay the course!
  • Some significant expenses on the horizon (several thousand) – who took the punch away?
  • Investments remain on auto-pilot…focus on family and work
  • Stay cool!

Comments»

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

[…] myself, my current net worth is slightly above where I need to be based upon this rule of thumb – so far so […]

2. Jim - March 23, 2009

Net worth is not what it used to be, economy has devastated many>

3. DeeSigno - April 13, 2009
4. munkeyslam - June 6, 2009

Hey, why aren’t you posting your net-worth for 2009 any longer?

5. Todd Pham - September 12, 2009

I like your site. However it looks like you’ve lost interest.

But why are you carrying a balance on credit cards when you have the cash to pay it off.

6. john g - September 18, 2010

4. munkeyslam – June 6, 2009

Hey, why aren’t you posting your net-worth for 2009 any longer?

He probably got wiped out with his house debt. It’s hard to talk when you’re underwater. glurgleblurgleblurg! Pride goeth before the fall, huh big guy?

7. Anony - November 22, 2010

Geez, some mean mofo commenters. Author had 50% equity back then, I doubt he got “wiped out”.

Still the “About” section says:

“1) Create a forcing function to hold myself accountable and actually DO the things that are needed to achieve my financial goals”

I can’t say the author is doing well on the accountability side. It’s persuing goals through adversity that would have made the blog interesting, not reaching some financial goal with a 10% clockwork ROI with little effort. I’d encourage the author to pickup the blog again, tell us what lessons were learned.

8. pfodyssey - May 24, 2011

Dear All,

This comment is from PFOdyssey. At some point during 2008, the time required to maintain the blog was more than I was willing to invest and discontinued writing. In fact, so much so I am no longer able to sign in to the account (thus the comment instead of post)! Of course, like most people, my stock portfolio and real-estate holdings saw significant declines during the period since my last post. At one point, I recall my stocks having lost approximately 50% of their value. However, as I have always done, I continued to plug away with regular contributions and remained fully invested in equities during this time. Similar to many, my portfolio has since rebounded and combined with the additional contributions, now sit at approximately $420K vs. $279K in July 2008 when I last reported on Networth IQ. Unfortunately, real-estate is another story…I believe my house is now only worth 240K vs. 290K and some land I had purchased is probably worth 60K vs. 130K. Due to some stock options and bonuses, my cash position has improved to approximately $230K vs. 160K. Overall, my networth has improved…but not by a significant margin when you consider the lost value in real-estate. With the exception of our mortgage, I otherwise remain debt free and continue to keep chipping away in hopes of achieving the elusive financial freedom I hope for myself and family. In terms of lessons learned, I find that I sometimes see the “signals”, but can not interpret them well enough to create action (e.g. who is buying all these houses? Where is the money coming from?). Had I been more adept at this, perhaps I would not have purchased the land. More recently, we had seriously considered upgrading to a larger house (and debt / tax obligation). Alas, after some deep soul searching, we have decided against this and wish to allocate our assets in such as way as to minimize our worries (e.g. sense of security) and maximize how we live our lives (e.g. travel, experiences, etc). Of course, our views may change as we age…but this is where we are at right now. Thanks to everyone who bothered to read the blog…I hope you were able to get something from it. My best wishes to all.

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when the net worth progresses there will be some kind of authorization for the worth to take place..,. for example in the new york times … in pakistan mosque bombings kill 13 ahead of political transfer , caribbean global group vows better protections for marine habitats…..and also by san francisco chronicle season of promise and promising future….

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23. marcus anthony bynum - November 26, 2013

energy policy. a house panel votes to issue subpoenas to administration officials involved in doctoring a report on the gulf spill to justify . after the deepwater horizon blowout in the gulf a panel of experts was formed by the administration to review offshore drilling safety and was asked to review recommendation in a government report//

24. marcus anthony bynum - February 5, 2014

Follow the money by alan suderman… education issue hitting the streets february 21,.. david wilmot, one of d.cs most powerful lobbyists, and jeff thompson, the medicaid contractor and prolific politaical donor who is at the center of a federal investigation…film by peter karp the works in peter karps retrospective at studio gallery tend to fall into three categories- photographs , flat mixed – media assemblages…horoscope by christopher renstrom… gemini (may 20- june 19) you know what you need to do and youre ready to do it .. its time to take a running leap of faith…home of the week style in a world of details by lauren beale… carved and stenciled beams are among the old world touches in this spanish colonial revival home in westwood california… colorful , tiles abound in the kitchen and elsewhere. a breakfast room , a rotunda entry, a balcony and a sleeping porch add to the homes character…the raelian movement a religon that beliieves in u.f.osby riverfronttimes.com… deal me in by mark pilarski… rail city , siens, western village, grand sierra, harveys tahoe…casino….grand marshal dustin lance black by michael n. westley.. producer , screenwriterand director, won the academy award, and writers guild….norway oil fund questions negative bond yields by richard milne nordic corresspondent..the event of german, danish and swiss two year bond yields all being negative…market reports traders pile back intoyen amid fresh growth worries .. by alice ross the yen rose against other leading currencies as risk appetite faded following weak , growth figures from china that spurred concern about the health of the global economy…

25. marcus anthony bynum - February 5, 2014

butter chicken nutrition facts valeur nutritive.. tips for best results .. if using the commercially packed fresh cream , add milk to make it thin before use …by shanfoods product of pakistan…

26. marcus anthony bynum - February 20, 2014

hotelcoupons.com may have some nice deals…you can get a list of hotel deals.. budget inn $42 $49.. rodeway inn $48 $55.. comfort inn $64 $74.. quality inn $65 fall rate… relax inn $45 52 …super 8 $54 $64 yreka california, medford or…

27. marcus anthony bynum - February 20, 2014

more info on hotelcoupons.com … best western $69.99 red bliff c.a , comfort inn $71.99 1 king bed.. river bank inn $49.99 red bluff c.a, days inn $49 1-2 persons / 1 bed.. willows c.a.. super 8 $ 49.99 1 person corning california… priority club rewards quality inn $59.99 williams california… sunset inn- suites $35.99 1 bed 1-2 persons in-room microwave , high speed internet … w. Sacramento california…

28. marcus anthony bynum - February 20, 2014

ramada hotel – casino $35.99 , la quinta inn hotel $59.99 days inn hotel $31.99 1-2 people, 1 bed , 2 beds add $6 at reno, nv …. quality inn – suites $55.00 , days inn $39.00 , travel inn $30.00 at south lake tahoe c.a offers good till 3/15/14….

29. marcus anthony bynum - March 4, 2014

ftfm-investing in fixed income funding for sme … the search for credible ways to reduce reliance on banks is gathering pace, says brian bollen…the need for small – medium -sized companies to access new sources of finance is well reorganised globally. it seems that everywhere in the u.s it has become a financial crisis… mid market companies , are often striking. if driven by business needs rather than by arbitrage, it could be great news for the economy and for the investment community….asste class starts to feel the weight of its success.. high yield bonds . investors are widening their search for value in a tough scenario writes ian smith..ther is limited value left in distressed names which are a very small part of the European high yield universe today……also the news analysis.. shareholders beware when the majority stakes are high. governance, companies controlled by one large shareholder can be risky investments , finds steve johnson….minority investors in essar energy , an india-focused but London – listed oil refiner and power generator , have had a crash course in corporate governance…..the hunt for the next technology giant.. the big picture.. the developer of candy crush saga, the online game , filed for an intial public offering with the hope of raising more than $500, m while facebook recently bought whatsapp , the instant messaging application, for $19bn….

30. marcus anthony bynum - January 29, 2015

lets look at the result on a four year run from 2010 to 2015 4 to 5 year run on education , the answer is masters degree or phd degree it takes four years to put it together … an research analyst with the deutche bank from 2013 have European integrated oils supertanker grounded.. Big oil should appeal to those investing for multi- year total shareholder return.. The sector has de -rated as confidence in this thesis has been undermined… in profiting from big oil renaissance (sept 2011 ) we argued that the sector was undervalued….Also existential crisis is the boardroom of big oil… there should be ….big oil ” has not been a bad place for long term investors…

31. marcus anthony bynum - January 29, 2015

the research analyst , and equity research financial services / European insurance from august 2013 have zurich insurance group ag from underlying to bottom line … stabilizing earnings .. we upgrade zurich to equal weight to reflect:1 ) a moderately improving investment yield environment and outlook : and 2 more modest consensus estimates on reserve releases…(we downgraded zurich on these issues in our note downgrade on stretched expectations, 13 march , 2013.) company collected consensus suggest 2014 is just 3% above our price target to ch224 , which with the chf17 dividend puts the 12 – month total return in line with the sector….

32. marcus anthony bynum - January 29, 2015

u.s/ European insurance property reinsurance rates could weaken further in January 2014 .. property reinsurance rate decreases at January 1 would be consistent with our expectations . downward pressure on property catastrophe reinsurance pricing is driven by growing reinsurer capital positions due to low global insured catastrophe losses in 2013 … the best thing to do is find somebody that has 4 to 5 year degree masters or phd dealing with commodities class through the institute of trading portfolio management…..

33. marcus anthony bynum - January 29, 2015

the production of the entertainment of oil – gas have the family circus by bil keane how :bout we take a commercial break ? I’m kinda hungry … frank and ernest by bob thaves… I really wasn’t trying to be a wise guy . the teacher asked if anybody could give an example of a conditional phrase , and I said if you pay me…..

34. marcus anthony bynum - January 29, 2015

paper that is illustrated on oil fields gets produced by an producer that can keep the news running ….. just like the born loser by art sansom sometimes it seems as if you just can.t win no matter how hard you try! you’re too hard on yourself , chief you always do very well!……

35. marcus anthony bynum - January 29, 2015

I also have some resources offering 40 years combined local experience producing oil….

36. marcus anthony bynum - January 29, 2015

offering 40 years of combined experience does not add up to an 4 to 5 year run … also looking at the permits licenses , and copyrights on 40 years of combined experience….

37. marcus anthony bynum - February 13, 2015

got an email from starbucks.com the email address you have entered is already subscribed to the store . starbucks.com email newsletter…. the subscribtion is for royal English breakfast tea – jade citrus mint green tea…. the royal English breakfast black tea….

38. marcus anthony bynum - February 13, 2015

subscriptions to starbucks.com the email is already subscribed… for the royal english breakfast black tea , and jade citrus mint green tea…

39. marcus anthony bynum - February 13, 2015

lets look at jobs and career advice , top business books, bellytwins interview the name of the magazine is working world… they have featured articles by walt grassi such as five pillars to ensure you never stop learning … education is continuous… those who are determined and who work hard often spend a lot of time and effort to learn new skills and maintain their existing ones…

40. marcus anthony bynum - February 18, 2015

i looked at the mansion section in the newspaper from the wall street journal and it is about the homes with windows on the wild…and look at the real estate trends , build , create and build again, is the brio motto.. its included in each instructions, but as we sat there on the floor , surrounded by an endless array of wheels , blocks , and bricks..also you need to look at amy gamerman… she is writing about the gail morrision has gotton used to…the tour boats and kayakers who stop by her glass house on Sarasota bay —known locally the dolphin house ….

41. marcus anthony bynum - February 18, 2015

house call drawn to indias sweetness and spice .. today I live in a loft in new York , but I’m still emotionally attached to my grandparents home in Chennai, a town on indias southeast coast.. cozy city Padma Lakshmi at the park restaurant in manhattan… the tv host and cookbookauthor lives in new York but visits india, where she lived as a child and enjoys relative anonymity…

42. pfodyssey - March 27, 2015

This is pfodyssey. It has been almost 4 years since I last commented on this site. Like everyone, much has transpired (kids growing, now over 40) while much remains the same (still married, working, etc).

Today I surpassed $1M in net worth. I recognize this milestone is no longer the same as it used to be, particularly as I think about my longer term retirement goals of $2.5M or so. Nonetheless, it still provides me with a sense of accomplishment as I take a moment to reflect on my personal financial journey to this point. Of course, there is a long way to go (hopefully – stay healthy!) with many potential pitfalls along the way. Best wishes to everyone as they continue their own ‘personal finance odyssey’…

43. marcus anthony bynum - April 19, 2015

well the oil business is getting a bit tired there are lack of oil production education that you will be able to sign up for …. so now what you have to do is get the rich oil businessman to try to help get the right solutions on oil productions… why I say that is because the foreign exchange market is getting a high value of turmoil meaning a high value of uncertain….. my question is what are we supposed to do about turmoil through foreign exchange and oil and gas business…ther are schools that have resources like the American petroleum institute can get you to a ton of oil pdf files…

44. marcus anthony bynum - April 19, 2015

in Ardmore there are a lot of resources to get your business started… lets talk about the subject of the capital … many entrpreneurs need financial resources to start or expand a small business and must combine what they have with other resources of financing… these resources can include family and friends…look at a small business resource guide….

45. marcus anthony bynum - April 19, 2015

Also look at the certified development company loan program 504 loans … loans that are certified development programs for the economy help communities through business growth expansion and job creation… $5 million for business that create a certain number of jobs or improve local economy….

46. marcus anthony bynum - April 19, 2015

for foreign buyer eligibility … foreign buyers must be located in those countries where the export import bank of the u.s is not prohibited from providing financial assistance….

47. marcus anthony bynum - April 19, 2015

I hope to see people succeed in the oil business……

48. marcus anthony bynum - July 17, 2015

money mart haves loan notices ach authorizations or checks being negotiated as part of a deferred deposit transaction made pursuant to section 23035 of the financial code are not subject to the provisions of section 1719 of the civil code.. No customer may be required to pay treble damages if this check does not clear… Now what happens when you get money to pay for the check from somewhere else


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