BA70's Net Worth for July 2010


Assets Value Change ($) Change (%)
Cash $13,083 $3,680 39.14%
Stocks $40,999 ($2,120) (4.92%)
Bonds $45,579 ($14,710) (24.40%)
Annuities $0 - -
Retirement $253,806 ($3,562) (1.38%)
Home $212,000 ($6,000) (2.75%)
Other Real Estate $0 - -
Cars $0 - -
Personal Property $0 - -
Other Assets $0 - -
$565,467 ($22,712) (3.86%)
 
Debts Value Change ($) Change (%)
Home Mortgage(s) $175,657 ($806) (0.46%)
Other Mortgage(s) $0 - -
Student Loans $0 - -
Credit Cards $0 - -
Car Loans $0 - -
Other Debts $0 - -
Total Debts $175,657 ($806) (0.46%)
Net Worth $389,810 ($21,906) (5.32%)
*All values shown in USD ($)
Notes:
07/02/10 As mentioned last month, we're in the midst of taking a major hit on our net worth. An update on where things stand: 1) Refinancing - Still in limbo on this. The paperwork is done, just waiting to close. Closing costs are expected to come in around $4k. On a side note, it was nice to see the appraisal on our house come in at $247k. I'm not sure I really believe our house is worth that much, but it's nice to know somebody does... 2) College Savings - Locked in one year's worth of tuition to UMass for our little girl via the UPlan. Sweet! I think if we can get one more year in the bank for her our college savings is done. 3) Real Estate Value - Just as predicted, our home's value dropped about 3% according to Zillow. I'm thinking a 4% drop is in the cards come our next update in October. 4) 401k Max Out - One more check cycle and this is done. After that the 401k gets turned off and we double up on the mortgage. I wonder if we can get our balance under $160k by the end of the year. Pretty aggressive, but a good goal. 07/04/10 Happy Independence Day!!! 07/14/10 The money is flowing out at an alarming rate. Come August we will start to pick up the pieces. Some updates... 1) Refinancing - We closed on the new mortgage this morning. I requested to pay the closing costs up front, but the broker took it upon themselves to bump up the loan a little to cover some of the costs. So our mortgage will be rising instead falling. Argh! The new loan is listed at $178,000, and closing costs are coming in at $4,860. (partially covered by money from the loan) 2) Home Improvements - We pulled the trigger on a few more repairs to our house. We are having the basement windows and doors replaced, as well as replacing part of our roof. The windows and doors were very old - perhaps original? Our roof, while fairly new, was installed without the proper weather sealing. This lead to ice dams and water damage one winter. Total cost for the job - $6,200. After this, we have only three or four projects left. - Seal the driveway - $200 - Masonry work on our stairs - $300 - $2000 (depending on what we do) - Masonry work on our foundation - $500 3) "Merit Increase": I got a raise! I now make six figures! My increase was 2.4% 4) Markets on the Rise: Bob Brinker put out a buy signal on the market the first of July. Just around that time I started shifting some of our cash reserves into the market - about $30k in total. Brinker feels that we are in a Cyclical Bull Market, and that we are headed new highs. This would put us over 1200 in the S&P. Let's hope Brinker is correct on this...

Comments