utopium's Net Worth for March 2010

Assets	Value	Change ($)	Change (%)
Cash	$32,425	$1,925	6.31%
Stocks	$77,400	$7,400	10.57%
Bonds	$1,157	-	-
Retirement	$153,700	$11,700	8.24%
Home	$301,800	$1,800	0.60%
Other Real Estate	$798,600	$600	0.08%
Cars	$6,000	-	-
Personal Property	$0	-	-
Other Assets	$1,100	$1,100	-
Total Assets	$1,372,182	$24,525	1.82%

Debts	Value	Change ($)	Change (%)
Home Mortgage(s)	$276,400	($457)	(0.17%)
Other Mortgage(s)	$580,600	($1,545)	(0.27%)
Credit Cards	$5,285	$2,594	96.40%
Other Debts	$0	-	-
Total Debts	$862,285	$592	0.07%
Net Worth	$509,897	$23,933	4.92%
^*All values shown in USD ($)

Notes:
(Mint says I am at $511K) Well we shot past the half a million net worth mark! The trajectory looks very good. I am a little worried that the stock market is getting a little ahead of itself and might be due for a slight correction. In terms of personal cash flow we had a terrible month. Whenever the credit cards go up more than the cash it is time to sound the alarm bells! Time to reign in that spending for the next couple of months and really work at getting a bigger rainy day fund. There are also a lot of unkowns lurking over the next quarter or two: - +$20K ESSP shot in the arm in June - Have not finished taxes yet so I really have no idea where that is going to end up - Both are cars have +130K miles on them and we need more lugging around room so we will probably get a minivan in the next 6 months or so(-$20K). - Planning a trip to Greece (-$8K) What does all this mean? We REALLY REALLY need to start saving like mad or we will not be able to pay for all of this. LONG TERM GOALS: While doing my taxes this year I realized that the more money you make the fewer and fewer tax advantages you get. Really the only thing we have is our 401Ks at this point. So I decided that this year we are going to max out both of our 401Ks ($16.5K *2). With our tax bracket of 33% this should save us about $10.6K but that is about all we can do to shelter our money. I am also planning on contributing to a traditional IRA with taxed income and then roll it into a Roth so that at least that money will grow tax free. The other thing I am trying to think about is if I should still sell half my ESPP shares right away to lock in some gains and lessen the emotions of having so much of my net worth in company stock. From an emotional standpoint I love this strategy. It has worked out very well for me but from a tax perspective it would have been smarter to hold on to these and allow them to become long term capital gains so that I would owe less taxes on them. I am considering shorting the company stock instead of selling. I will pose this idea in the questions section soon.

Notes:

(Mint says I am at $511K) Well we shot past the half a million net worth mark! The trajectory looks very good. I am a little worried that the stock market is getting a little ahead of itself and might be due for a slight correction. In terms of personal cash flow we had a terrible month. Whenever the credit cards go up more than the cash it is time to sound the alarm bells! Time to reign in that spending for the next couple of months and really work at getting a bigger rainy day fund. There are also a lot of unkowns lurking over the next quarter or two: - +$20K ESSP shot in the arm in June - Have not finished taxes yet so I really have no idea where that is going to end up - Both are cars have +130K miles on them and we need more lugging around room so we will probably get a minivan in the next 6 months or so(-$20K). - Planning a trip to Greece (-$8K) What does all this mean? We REALLY REALLY need to start saving like mad or we will not be able to pay for all of this. LONG TERM GOALS: While doing my taxes this year I realized that the more money you make the fewer and fewer tax advantages you get. Really the only thing we have is our 401Ks at this point. So I decided that this year we are going to max out both of our 401Ks ($16.5K *2). With our tax bracket of 33% this should save us about $10.6K but that is about all we can do to shelter our money. I am also planning on contributing to a traditional IRA with taxed income and then roll it into a Roth so that at least that money will grow tax free. The other thing I am trying to think about is if I should still sell half my ESPP shares right away to lock in some gains and lessen the emotions of having so much of my net worth in company stock. From an emotional standpoint I love this strategy. It has worked out very well for me but from a tax perspective it would have been smarter to hold on to these and allow them to become long term capital gains so that I would owe less taxes on them. I am considering shorting the company stock instead of selling. I will pose this idea in the questions section soon.

utopium's Net Worth for March 2010

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