Numbers

One of the main reasons that I started this blog was to hold myself accountable, since I truly believe that Accountability Leads to Success when dealing with personal finance and me.. it is even in my FIRST post from August 2008 it is right there in the first sentence of published work on this blog! I updated my financial stats often when I was working off my credit card debt, but I slacked off once that was finished. So if I believe accountability is necessary, why don’t I have my numbers out there for everyone? I have no real excuse so here we go!

Before I get into giving out the numbers, I don’t plan on putting everything out there, and the reason is pretty simple. I am pretty sure that I will slip up and this site will eventually become known to my friends and family, and I am just way too private when it comes to money issues for everything to be out there. So what do I want to share? Those topics which I have covered on my blog already.

My Debt Items

In addition to my house I have a few other debt items. I don’t highlight the house, because it is secondary right now as compared to following debts:

  • I refinanced my auto loan (reducing the rate from 8.9% down to 5.5%) earlier this year.  In July my auto loan was at $11,325 currently we are at $10,650 a 6% Reduction.  The original loan in November 2006 was about $18,000.
  • One Law School Loan is  at $56,931.51 down from $57,275.48 a less than 1% reduction.
  • Another Law School Loan is at $6,808.90 down from $7,088.69 in July a  4% Reduction.  The original amount was about $10,000.  The interest rate on this loan is 5%.

I do not have any credit card debt, and don’t feel comfortable providing my exact mortgage information, but it is more than the above debts combined.  My goal is to to pay the minimum on the for the next 10 to 15 months on it until The Wife, the upcoming child and I decide to move.

Speaking of moving, I am not on operation destroy those debts solely because I want to accumulate as much cash as possible for the change from DINKs to DINKs.

My Multiple Income Streams and Qualified Investments

My Prosper Account

I have previously provided really detailed information about my Prosper.com Account, however boss broker-dealer said no more investing in prosper. So I have been taking the cash from the notes and just adding it elsewhere.

  • 26 Active Notes (down from 30 in July)
  • The total value of those notes are worth $472.57 (Down $177.47 from $650)
  • $21.39 in Cash (will be withdrawn)
  • $77.77 in Gain
  • 5 Charge offs up from 4 Charge offs in July
  • 13 Paid in Full up from 10 Paid in Full in July
  • Average Yield at acquisition 11.10% Same as July

When I wrote about Prosper in July someone asked me why I was moving away from Propser.com, and it has nothing to do with the business model or system I had set up.  Rather since I am Series 6 and 63 registered my job gets notice of all investments and when I told them about Prosper, it wasn’t a complete, “Hey, quit it” rather it was a more “we are going to need a ton of paper work on it” and since I wasn’t putting much towards it I decided to slowly collect my active notes.

My 401(k)

Despite stating that it “may be time to look into re-allocating my 401(k)” in May July. I have yet to do it!  Is it ridiculous that a personal finance blogger has talked about reallocating his 401(k) for MONTHS and have yet to do it? YES. it will be done in the next week.  My 401(k) provider lets me put in custom dates, so from July1, 2010 to October 31, 2010 my 401(k) is up 16.59%. That doesn’t even count the $x,xxx I have put towards it since July.

My Perpetual Income Machine – Non-Qualified Dividend Portfolio

For my Perpetual Income Machine I researched dividend paying stocks to create an eventual perpetual income machine. The account is tiny, and will just be a slow growth sort of thing until my cash reserves are where I want them, I am talking about $120 or so a month (up from $100 at the beginning of the experiment).  The update of the perpetual income machine deserves its own post (you can read some here, here and here).

Notwithstanding I should mention that the portfolio return, as a whole is up 5.91% and as a value and if I were to look at the account value on August 1, 2010 and October 31, 2010 the value has almost tripled, but that includes a monthly deposit from $120 to $240.

My Cash Account

I am not comfortable providing my cash account details, but lets say I am at about 53% of what I’d like in a liquid account (I was at 45% in July).

My Protection Contracts

I will update this in the next month or two and provide real details, but we currently each have $250,000 20 year term.  My plan is to convert a part of that policy into a whole life policy and purchase even more term.  But I’ll give a more detailed review of this process and my reasoning.

So financial voyeurs any questions?