Net Worth Update - February 2008 |
4 Comments |
It’s the middle of the month, so I’m doing my usual look at my finances. Just a few minutes ago I logged into my 20+ financial accounts and update my Excel spreadsheet. It’s a lot of work to have 20+ financial accounts, but each of them serve a purpose. Overall, I ended up losing $300 this month. Considering that I have some money owed to me that’s a little late in coming, I could have been even this month. I finished with $213,031.05.
Here is a quick breakdown of this months results:
- My retirement accounts got hit to a $4,000 loss. This is on top of the $5,000 loss last month. It’s possible that my wife and I make too much for a Roth IRA for 2007. And since I don’t have a day job anymore, I’ll have to look into a SEP-IRA.
- This month, my spare cash took a hit as I bought $5,000 worth of private stock. In my accounting I decided to count this as worth what I paid. It’s supposed to be worth 3 times more than that, but since it’s not stock that I can sell, I can’t use that price. If I was really conservative, I would count it as nothing - assuming that the company goes out of business. However, I think it’s a wise investment so I don’t want to discourage that with strict accounting.
- I made up for retirement losses with spare cash.
I have to say that I’m extremely happy with how this month went. I didn’t expect to be able to weather the stock market losses without a typical day job. It’s a huge milestone for me.
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February 15th, 2008 at 12:50 pm
Great idea to make up the losses with cash. Very impressive to come out almost even last month!
February 15th, 2008 at 3:15 pm
Not sure if your bank offers an account aggregator service like Yodlee but that would be a great help since you have 20+ accounts.
February 15th, 2008 at 3:25 pm
I don’t mind having that many accounts. Some of them are like Prosper and Lending Club. Some of them are private stock (two from different companies). It really takes me 10 minutes each month to do. I have all of them saved in Firefox tabs - I simply just load all tabs and move on.
February 21st, 2008 at 8:36 am
*cough* 20 accounts? *cough* That doesn’t sound very lazy to me? C’mon…20?