My Personal Finance Journey

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Monthly Update - August 2007 ($793,469, +$31,328)

Contributed by mm | September 7, 2007 3:59 AM PST

After two months of lukewarm net worth growth during the summer, our household finance is back to the fast lane. The $31,000 monthly increases makes August the second best month of this year so far.

I have to admit it is partially driven by seasonality -- every August, a few batches of stock option and stock award grants will vest in my account, and even after some hefty tax (up to 46%), it represents some handsome income. Also, the annual bonus payout didn't disappoint me. On the other hand, although the global stock market was quite a ride in August, my portfolio ended up literally at where it started in August. My $3,000 gain was cancelled almost fully by the loss in vested stock options.

During the two thirds of 2007 that is now behind us, we have added over $160,000 to our net worth figure. This includes about $130,000 from savings of multiple income streams and $40,000 from investment income, offset by $10,000 loss in stock option value. Therefore, we are slightly ahead of the game in our annual pursuit of $230,000 net worth increase.

MONTHLY BALANCE SHEET

networth-2007-08.jpg

A few footnotes:

- We made a $10,000 contribution to my Self-Employment 401(k) account for tax year 2006, hence the substantial increase in our 401(k)/IRA bucket.

- We also finally filed our federal tax return for tax year 2006, and received about $4,000 from my employer to make up for the difference in tax law changes in 2006.

- We paid off more than $14,000 of credit card balance from 0% APR balance transfers completed in the prior year since the introductory period is coming to an end. (Out of the remaining $22,000 balance, another $12,000 will be due in November, and the rest is in 1.9% APR life-time deals which I don't plan to pay off in this decade.)

This Post Has Received 7 Comments. Share Your Opinions Too.


Flexo Commented on September 7, 2007

Nice increase! Those stock options are a big benefit, too.


The Dividend Guy Commented on September 7, 2007

August was a wild ride, until today things seemed to have stabilized. That is the problem with these markets - just when it looks like you can relax Mr. Market comes with an uppercut to the jaw - good thing for a risk adjusted portfolio.

Jeremy


Reggie, another kid with good credit Commented on September 11, 2007

Wow, It must feel pretty good as you inch closer to the goal and in the very near future the 800K mark - I am amazed at your hard work and maybe, with any luck you'll have reached the main goal by the end (or the middle) of next year. Keep up the excellent work.


Mich new to the blog Commented on September 12, 2007

Question: Why do you decide not to put real estate into your net worth calculation? Do you rent or are you against considering home equity as part of your net worth?


MM Commented on September 12, 2007

Mich -- I don't own real estate in the first place. I sold my house in late 2005 and am renting now.


Adam Commented on September 22, 2007

What exactly do you consider Receivable (payable), I'm confused by the wording?


888 Commented on February 1, 2008

Wow, that much of money!


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