Usually I combine my net worth updates with some sort small complaint I have, but June was an amazing month for me both personally and financially. In June 2011:
- My son was Baptized
- The Wife turned 31
- The Wife and I had our 3 year anniversary
- Paid off my Auto Loan (one of my objectives for the year)
- I “found” an old IRA that I have recaptured into my financial world
- Had a record monetary month for My Journey to Millions
- My Journey to Millions was upgraded to a page rank of 5
- Had a record monetary month for my side online businesses
July 2011 Net Worth Update
Early this year, I started a system of tracking my net worth where I calculated my net worth and zero it out so I could share with everyone my ups and downs. So far I have only had ups this year.
The assets I include are:
- My Cash Savings Accounts
- My 401(k)
- Wife’s Roth IRA
- My Small but Awesome Perpetual Income Machine
- Value of my House
- My Traditional IRA which I just “found”
I keep putting found in quotations because it wasn’t until I was forced to change my brokers that I even learned the password to this account.
The liabilities I include are:
What is missing?
- Credit Card debt – Don’t have any except a revolving AMEX account so no reason to put it up
- Checking Accounts – Always changing and moving kept low on purpose so no reason to track it
- Cars – I have no idea why people count cars as an asset. Its transportation not an asset.
- Jewelry – I joke that The Wife’s hand is worth more than my car…but there is NO way anything is being pawned/sold so why list it as an asset?
My Net Worth Update
- From June 1, 2011 to July 1, 2011 my net worth has increased 6.51%
- From January 18, 2011 to July 1,2011 my net worth has increased 42.04%
Last Month I wrote:
If everything goes to plan, within the next six weeks I’ll be able to fully eradicate the auto loan (it was at about $8,000 in January of 2011) so that will feel great!
Its gone! So right now, my plan is pretty simple:
- Keep hoarding cash
- Slowly build investable assets
- I am slow down debt repayment since liquidity is much more important to me in the next 6 months or so.
How was your month? Do you have an update?
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