My Personal Finance Journey

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Monthly Update - February 2014 ($1,676,362, +$12,539)

Contributed by mm | March 2, 2014 9:29 AM PST

Advancing $12,539, or 0.75%, our net worth closed the month of February at $1,676,362. Trailing 12 months improvement is $190,398, or 12.8%.

Our household balance sheet, along with monthly, year-to-date, and trailing 12 months comparison, are shown below:

6442-feb-networth.jpg

While percentage changes in most lines are very small, there are actually quite some major underlying developments:

- Our savings against wage income is $2,500, which is a drop from last month's $5,000. (Last month's amount is helped by year-start HSA contribution from my employer and small-than-usual tax withholding).

- After completing our 2013 federal tax return, we now expect to receive $10,700 in tax refund. We accrued $5,000 in January, and we accrued the rest $5,700 in this month.

- Our USD-denominated investments gained $13,000 in February as S&P 500 ended the month at record high.

- Our much-bigger CNY-denominated portfolio, however, only logged $3,500 gain. The gain is almost exclusively from our P2P loan portfolio, which represents slightly more than half of our CNY portfolio. The rest of our investments basically stay flat in an pretty eventful month.

- We further exchanged $10,000 worth of USD to CNY to take advantage of favorable investment opportunities.

- In late half of February though, China's central bank engineered a Yuan devaluation, which washed out Yuan's steady exchange rate gains in the prior 8 months. This resulted in a $13,000 exchange rate loss when we report our net worth in USD. (Our total net worth, when reported in CNY, increases 2.2% in this month for the same reason.)

How did February treat you?

This Post Has Received 2 Comments. Share Your Opinions Too.


Adam Commented on March 10, 2014

I struggle to understand the weight toward CNY. By all accounts, China is poised to have a real estate collapse - don't even know if I have seen anyone seriously dispute this. Curious to understand the currency play from your perspective in a future post.

60 Minutes: http://youtu.be/IF-rR4zEJRM

http://www.zerohedge.com/news/2014-03-09/prem-watsas-9-observations-why-there-monstrous-real-estate-bubble-china-which-could-


mm Commented on March 17, 2014

Hi Adam,

Thank you for the comments. Yes, I agree with you that China is looking at a real estate bust. I watched the 60 minutes episode too.

However, I don't think it is necessarily that the CNY will tank though. There are many safer investment options in CNY (like P2P loans I blogged earlier) and even the stock market valuation is much lower than the US market today.


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