The dip in our net worth in February is, as I correctly predicted in last month's summary, no more than noise in our march toward financial independence. Helped by a rebounding stock market and a surge of business income, our assets grew more than $24,000 in March. This also concludes the first quarter of 2007, in which our net worth improved by over $46,000.
At $677,666, shall we celebrate this minor milestone that we finally amassed two thirds of a million bucks?
MONTH-END BALANCE SHEET
COMMENTARY FOR THE MONTH/1ST QUARTER
- Our investment portfolio gained almost $13,000 in March, and a total of $16,000 for the 1st quarter. Our 2.2% year-to-date return also handily beat the 0.2% increase in S&P 500 index and put us on the right track for our annual goal of 8% before-tax investment return.
- Our sideline business is again celebrating another five figure income for the month. Our Q1 revenue adds up to $28,000, which is way ahead of our annual goal of $80,000. At this rate, we are very likely to achieve six figure annual revenue for the first time in 2007.
- We also controlled our expense very well in March. Our monthly spending of $6,000 is the second lowest in the last 8 months.
- I'm waiting for KPMG to run its scenario analysis on whether I should contribute to my self-employment 401(k) for the tax year 2006.
- My wife's laptop is nearly broken, so we are in the shopping mode for a new one.
- The family is also planning for the third family trip of the year in June or July. We are looking at a few places in the North America this time.