August was a kick-ass month. I’m not even kidding!
OK, so my net worth down a little bit, and the goal of finally ticking over the magical $100,000 in investments mark moved a little further away. However, I bought as scheduled, so even though my investments are worth less, I have lots more shares, purchased at a steep discount. The market continues to drop, so this month’s purchases (to occur today) look like they’ll be at a great discount too.
Since I did my first monthly statement on the 8th of last month, I had already been paid for the month, and had already made payments to all my debts. This means that a few of these balances didn’t go anywhere since then. Starting this month, all the changes in net worth should be accurate and should move in the right direction monthly.
Luckily, I needed to spend less on my credit cards this month (I never carry a balance past the statement date, so this is always just inter-month float) so that balance came down. My properties also rose in value, so that went a long way towards keeping the net worth as high as possible.
The bottom line is that my net worth dropped by $1,060.74 this month, which doesn’t bother me in the slightest. I’m snapping up more shares whenever possible, and buying them at a lower price rocks!
I did a little bit of extra side work this month, and intend to buy a little extra. Quarterly taxes are due this month too, so that is going to drive my credit card balance way up this month, but I’ll explain why I use the credit cards for tax payments in another article. I won’t accrue any interest since I pay my cards off in full, right away.
Next month should bring at least modest increases. I’m putting $3,100 into my investments tomorrow and hopefully will put $1,500 more in later in the month. Hopefully the property values continue to go up, though I expect it to cool off a bit as we enter fall.
August 2015 Financial Statement
|Real Estate Operating Account||$1,378.30||$1,235.65||$142.65|
|Real Estate Cash Flow Account||$1,199.25||$1,027.54||$171.71|
|Retirement - After Tax||$37,620.60||$39,886.48||-$2,265.88|
|Retirement - 401(k)||$49,763.70||$53,294.18||-$3,530.48|
|Retirement - IRA||$4,177.55||$4,576.98||-$399.43|
|Asset - Home||$401,716.00||$393,573.00||$8,143.00|
|Asset - Rental 1||$54,429.00||$53,040.00||$1,389.00|
|Asset - Rental 2||$72,584.00||$71,456.00||$1,128.00|
|Mortgage - Home||-$383,946.75||-$384,166.24||$219.49|
|Mortgage - Rental 1||-$44,965.24||-$44,965.24||$0|
|Mortgage - Rental 2||-$48,687.25||-$48,687.25||$0|
|Student Loan 1||-$23,285.27||-$23,411.37||$126.10|
|Student Loan 2||-$14.474.75||-$14,553.14||$78.39|
|Student Loan 3||-$5,429.47||-$5,411.68||-$17.79|
With retirement accounts totaling $91,561.85 at the end of August, a 4% Safe Withdrawal Rate would allow us to take out $305.21 per month. My rental properties, after all expenses, vacancies, and short and long term maintenance are considered, produce $441.00 of safe cash flow every month.
Safe Monthly Income: $746.21 (-$20.64 to Last Month)
% to Goal: 14.92% (-0.41% to Last Month)
Want to Know How to Track Your Expenses This Closely?
It’s really easy. Sign up for a Personal Capital account, which is completely free. It’s how I track my balances across time, and allows me to project all my retirement progress without doing any work at all. As a disclaimer, if you sign up with Personal Capital, this site may get a referral fee depending on the size of your portfolio.