My Personal Finance Journey

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Monthly Update - March 2014 ($1,670,949, -$5,413)

Contributed by mm | April 10, 2014 2:21 AM PST

Our net worth ended the month of March 2014 at $1,670,949, a slight 0.3% retreat from the prior month. All in all, we ended the first quarter of the year with a combined net worth gain of $11,400, or 0.7%.

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

6444-net-worth.jpg

Several factors contributed to our first monthly net worth decline in five months.

First, we barely saved about $500 from earned income. We paid $3,400 for hotel and airfare for our spring break vacation, purchased $2,000 worth of lawn care equipment and supplies (including a lawn tractor, a dethatcher, a hedge trimmer, a blower, and hundreds of pounds of fertilizers) in order to take care of our lawns.

On the investment front, our USD-based portfolio gained over $6,000 as S&P sets new highs. Our CNY-based portfolio lost a small sum of $500. We also exchanged another $50,000 into CNY.

What really set us back is again the foreign exchange rate. CNY weakened by another 1.15% in the month (on the back of the record-bearing 1.44% in February), and this dragged our USD-denominated net worth reporting by over $11,000. Over the three-month period in Q1, FX rate bit us for over $26,000.

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


2million Commented on April 15, 2014

MM your balance sheet indicates you think there is still good investment opportunity in China. Having spent significant time there myself I'm a bit more on the fence. I recently read Prem Watsa/Fairfax Financial annual report and think he does a pretty good job laying the bearish view (bubble) for China which I generally agree with. Could you comment more about your balance sheet allocation (China vs US)?


mm Commented on May 10, 2014

2million, yes, I agree with you that the real estate bubble in China is real, but i'm also seeing a lot of growth opportunities now that the new government is making all the right moves to enable more healthy growth. Also, I found plenty of attractive investment opportunities in China given the low valuation and high risk-free interest rate.


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