Net Worth Update – September 2017

ID-100263174-300x300 Net Worth Update - September 2017

I have been using Personal Capital to track my net worth as well as my income and expenses for almost four years. I highly recommend that you sign up and use Personal Capital as this is far superior to other similar services. You can sign up using this link: Personal Capital Sign up

As you can see below, I really do not have “bad debts”. I have credit card debt because I use my credit card for all of my everyday purchase so that I can obtain points for traveling. This will be a topic I will be discussing in a later post.

I own my car outright and I am not a big spender. Another thing I got working for me is that I bought my apartment super low because it needed a gut job/renovation. You can check out the renovation post as well as my post about the numbers and profit from the renovation and rental. Also, I invest almost every single dollar that comes in because I live pay check to pay check.

So here we have my Assets as well as my Liabilities.

Assets:

Cash Accounts: $3,964.77

401k: $13,220.00

Roth IRA: $30,601.20

Traditional IRA: $17,737.88

Taxable Account: $124,989.62

Empolyee Stock Option: $1,117.16

Home: $170,000.00

Car: $8,500.00

 

Liabilities:

Credit Cards: -$1,593.11

Mortgage: -$68,297.11

 

Net Worth: $300,240.00

So I hit the $300,000 mark for the first time in my life. I am super excited and very grateful to be in this position. I make a lot of sacrifices to be in this position. I spent a lot of time studying to get a great job. I don’t live in a big place by the beach. I don’t have a new or 1-year-old car. I wear the same clothes that I have own for at least 3 years. So I am very grateful to be in this position.

By the end of next year, my goal is to have a net worth of $400,000. I don’t think that it is possible, but I am going to do my very best to get there. Every $100 grand my net worth moves up, it is a huge step to financial freedom.

I end the month of September on a good note with a stock buy. I plan to make 2 or 3 more buys for October. Make sure to follow me to get the latest updates.

 

Screen-Shot-2017-09-30-at-9.33.42-AM Net Worth Update - September 2017

 

Follow me so you know when and what my next Stock Buy is.

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Comments

  1. Hey there,
    Just came across your blog. Congrats on hitting that $300K milestone! Even though i dont share my net worth on the blog, I love reading these updates to see how people progress and build their wealth to reach financial independence.

    Another great metric to track as you progress is to see how long each $100K takes. My first $100K took a very lonnnnnng time, but the subsequent ones get there faster and faster 🙂 It is true what they say that the first 100K is the hardest and the first million is looking pretty hard too.

    cheers
    R2R

    • Thanks R2R for reading and commenting. I follow you and love your blog.

      That’s a great idea. I will make a post about it. My first $100k did take a long time. Thank you for the idea. 😀

  2. Nice job Felix. Stay focused living “paycheck to paycheck”, and you’ll be at $400k in no time. I have a question on how you calculate your portfolio yield.

    Do you calculate your cost basis yield versus original dollars paid for the stock and new money purchases? And how do you treat your frip purchases with regard to cost basis? In other words, do you add the cost of your frip purchases to your cost basis or do you treat them as “free shares” which increases yield versus original purchase price?

    I treat frips and drips as free shares. Every time I frip a share or receive a divvy increase, I calculate my new higher income versus the original amount I paid for the stock. Frip purchases do not figure into my cost basis, but they do figure into my cost basis yield calculation.

    Your thoughts? Thanks again for sharing.
    Andrew

    • Hi Andrew,

      Thanks for the comment. When I first started investing I had the same question. I use my dividend as I normally use my money that I work for. So if I buy shares of a company with $500 from dividends, then I put that $500 as part of the cost basis for the said company. I too used to think it was free shares but it is not. you must add it to your cost basis. I hope that helps. Let me know if you have any more questions about it.

  3. Hi Felix,
    Nice job on reaching the $300K milestone! $400K will be here before you know it, even if it doesn’t happen by the end of next year. Just keep plugging along…. slow and steady wins the race.
    I’m curious… I see you have more saved in your taxable account than your retirement accounts. Any particular reason for that? Possibly wanting access to the money for a real estate purchase?

    • HI Enginerring dividends,

      Thanks!! I am going to push very hard to get to $400k by end of next year. Hope you stick around to find out.

      I plan to retire by the time I am 40 years old. So I need all my money in the taxable account to be able to access it once I retire. I don’t plan to buy any more real estate. I will if there is another price drop. I hope that answers your question. Please let me know if not.

  4. FV –

    NICE! Congrats on the $300K. My net worth is almost $400K and I will agree with Roadmaps comment, each $100K is quicker, in fact, I have added almost $100K this year alone; so it does get easier, hahah. Obviously simple facts that there is a bigger pot to move/roll/compound and reinvestment gets bigger : ) It’s a wonderful thing!

    -Lanny

    • HI Lanny,

      wow almost 100k in one year! that’s great. I hope I can get somewhere like that for next year. Let us see how it goes. Thanks for commenting.

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