My Personal Finance Journey

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Monthly Update - December 2007 ($895,398, +$19,549)

Contributed by mm | January 2, 2008 12:51 AM PST

networthicon.jpgRecovering from the mass bleeding in November, we ended 2007 with a positive note by growing our net worth by almost $20,000 in December. Savings from our regular job and business income, and the appreciation in our stock option accounts, both contributed to a successful month.

For the full year, we added over $264k to our nest egg, handily beating our annual goal of $230,000 in net worth improvement. It is also the best showing ever for a full year, compared to $231k increase in 2006 and $205k increase in 2005 (the latter includes a one-time gain of $100k by selling our house for a profit).

BALANCE SHEET

6349-balance.jpg

NOTES

- $50k was moved from my US-based brokerage account to my banking account in China for Dollar/Yuan carry trade.

- The balance of our payable account decreased $7,000 since the accrual for the Christmas trip in October's and November's accounting book is moved into credit card liabilities after the trip. (BTW, Maldives is fabulous!)

- Despite employee stock option appreciation, tax liability decreased slightly because of more year-end catch-up tax withholding on my paystub.

WHAT'S AHEAD

- 2007 tax season is on the horizon. I look forward to refreshing my tax knowledge and maximize my tax savings again soon.

- And we need to execute on our 2008 plan!

This Post Has Received 1 Comment. Share Your Opinions Too.


SingleGuyMoney Commented on January 2, 2008

That's an awesome increase! Care to share the wealth...LOL


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