Tuesday, April 29, 2008

Monthly Net Worth Update -- May 2008

As discussed a few times on this blog, I’m a very conservative person so I tend to under estimate. In my last net worth update I predicted that I would reach the $100,000 net worth mark in Mid-June...well...it seems that I'm not a very good predictor (which is a good thing). I actually reached the $100,000 mark about a month and a half earlier since this month my net worth is now officially over $100,000! Yeah!

Updated 4/29/08

Change from Previous Update

Updated 4/3/08

Total Net Worth

$100,076.32

$3,597.77

$96,478.55

Net Worth Comprised of

Retirement Savings:

$27,831.53

$2,345.74

$25,485.79

401k

$22,223.68

$1,812.04

$20,411.64

Roth IRA

$5,607.85

$533.70

$5,074.15

House Down Payment/CD's:

$57,081.13

$168.65

$56,912.48

Future Car Savings

$200.27

$0.00

$200.27

Emergency Fund/Money Market:

$14,945.65

$2,682.51

$12,263.14

"Cash"/Checking:

$17.74

-$1,599.13

$1,616.87

Analyzing the table I thought I’d take a moment to explain a few irregularities.

My future car savings does not reflect any increase this month because my transfer into my emigrant direct savings earmarked for my future car is on the 1st of each month so last month I updated my net worth on 4/3/08 so it was after the transfer and this month I’ve updated my net worth prior the 1st of the month and the transfer.

My “cash”/checking looks very light because I have my bi-weekly paycheck deposited into my money market fund to take advantage of high interest rates and then once a month transfer my expenses from that account into my “cash”/checking account.

2 comments:

Kyle said...

Wow, this is very impressive. A $100K net worth just a few years out of school is borderline miraculous.

"Future Millionaire" said...

Thanks Kyle. I don't know if its miraculous so much as goal oriented and driven.

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