As expected, we extended our winning streak to the fourth month. Helped by a handsome annual bonus payout and employee stock option appreciation, our family net worth grew almost $30,000. At $546,782, we are now within a stone's throw of reaching our 2006 net worth goal of $550,000.
MONTH-END BALANCE SHEET
HIGHLIGHTS OF THE MONTH
• Our business income proceeds dropped from the all-time high in August to a normal level in September. Our sales pipeline is currently weak, but I still expect our 2006 annual business income will be 50% higher than that of 2005.
• While S&P 500 advanced 2.5% in the month, our international-stock-focused portfolio only delivered $3,400 in gains. Still, our year-to-date investment income (excluding employee stock options) added up to $33,000, putting us on track to meet the annual goal of $40,000 investment return.
• During my recent US trip, I picked up two new credit cards that both offer 12-month 0% APR balance transfer (Citi PremierPass and Discover Platinum). Now I have almost $50,000 from 0% or ultra-low APR balance transfer deals, and I park all such balance in high-yield money market accounts like Emigrant Direct that are throwing out 5% APR. It is sweet to sell my creditworthiness for over $2,000 in income a year.
• I opened brokerage account in China and started some fund investing in domestic market.
• Corporate tax return for our family business will be due by the mid of October (the fiscal year ends in June). Time to hurry up to ship the form.
• Chinese Yuan continues to appreciate rapidly against US dollar, and I am researching how I should hedge my risks since I get paid in US dollar and most living expenses are paid in Yuan.
• We will be vacationing in Southern California in mid October.