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:
- After I refinanced my auto loan (reducing the rate from 8.9% down to 5.5%) my loan was $11,976 (my May number didn’t include all feeds). Currently, I am down to $11,325 a 6% Reduction in total.
- One Law School Loan at $57,275.48 (down from $57,467.97 last month a less than 1% reduction).
- Another Law School Loan at $7,088.69 (down from $7,240.49 last month a 2.1% reduction).
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.
- 30 Active Notes worth $650.04 (Same number of notes but reduction of $48 bucks from Moy)
- $13.83 in Cash (will be withdrawn)
- $83.25 in Gain (at least according to Prosper) up 13% Since May Numbers
- 4 Charge offs (same as May), 1 Late (same as May), 10 Paid in Full (same as May)
- Average Yield at acquisition 11.10% Same as May
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 $100 or so a month – so really slow – up to $300 as of this writing
- SDY SPDR S&P DIVIDEND ETF
- LLY LILLY(ELI) & CO
- CB CHUBB CORP
- SWK STANLEY WORKS THE
- CTL CENTURYTEL INC
They are all basically split evenly (ranging from 19 to 21% of the total portfolio). After all my research I really liked those 4 stocks and I figured why not pick up the ETF this way I have some exposure to everything else. I have “bought into” this portfolio for 4 months now so each purchase was $80 and they are all down ranging from 3% (Chubb) to 12% (Stanley Works).
My plan is to follow these stocks for at least another 4 to 6 months and then reevaluate the holdings.
Despite stating that it “may be time to look into re-allocating my 401(k)” in May I have yet to do it and it is on my list to do it this month! Regardless of whether I re-allocated or not, the whole market has been getting killed and since I am in broad based funds I too have been getting killed. Luckily, my 401(k) provider lets me put in custom dates – so from May 4, 2010 to July 1, 2010 my 401(k) is down 11.98% – can you say f’in ouch? I know it ‘doesn’t matter’ since I can’t touch this money for 30 or so years, but it literally puts a knot in my stomach to review this account.
My Cash Account
I am not comfortable providing my cash account details, but lets say I am at about 45% of what I’d like in a liquid account (and increase of 10% since May).
Any questions for Evan?