| Net worth now relects combined net worth of my wife and I.
The Market had a better month but still quite rocky.
Big stock position continues to take a beating and responsible for loss of capital in the last 3 months in taxible account. Long term growth story still intact. China slow down affecting it short term.
Real estate is single family home, should appreciate at 4% a year average for my area which is 1500 a month. I added 5000 this month which puts home price wise more consistent with house built in the neighborhood. This may also be understated compared to comparable sales and work done to house.
Paid a good amount towards mortgage again. This continues to show our earning power. Will continue this for some time. I hate paying interest. Effectively the same as a nearly 6.75% return in our tax bracket including state tax if we were to invest in the short term. Will hopefully pay off 30 year mortgage in 3-4 years.
Misc Asset is jewelery and is entered at appraised value.
Personal property is furniture, art, tangible stuffs, etc in house. This is carried at nearly 1/3 or 1/4 of price paid.
Now 31, wife 29, net worth goal of $250,000 by 30 reached 9 months early on my own. Every entry before 10/10 reflects this.
Goal now is 1 million net worth by the end of 2012. We seem to be on track for now. Will depend how the market performs for last half of the year and how my equities do. We are at the mercy of the market at this time, but on track.
A big part of our success has been due to very little debt with a heavy amount of high quality assets. We are very equity heavy, holding NO BONDS. I look for stocks with very little debt, growing EPS, large cash balance if available in absense of growth, and increasing dividend.
Carry on..... |