My Financial Report - June 2008
- Net Worth
Despite the stock market performed poorly in June, thanks to the $1,200 economic stimulus payment, my net worth could still be up by 0.8% (+$1,316). - Cash Savings
Admittedly, we have more cash than I’d like ($53K). I’m still considering to purchase some stocks, most of which are reaching the oversold territory, in my taxable portfolio (100% cash). As my wife will start a new job soon, I have been thinking about buying a second car, which most likely will be fuel-efficient compact cars such as Honda Fit/Civic, Nissan Versa, Toyota Yaris/Corolla, and Scion xA, but I’m starting to lean towards carpooling, if possible. We currently have $10K worth of I-Bonds bought at the end of April with a guaranteed interest rate of 4.28% until September. The majority of my cash is now sitting at high-yield savings accounts such as HSBC Direct (3.50% APY) and E*Trade Bank (3.30% APY). - House
That’s not a Zillow estimate but the price we paid two years ago. Zestimate for our house is currently 5% higher than our purchase price. For the sake of simplicity, I will continue to use the purchase price unless Zestimate goes significantly below it. - CD and Retirement Funds
I put most of the borrowed money ($22K) from a 0% APR credit card balance transfer offer in a 9-month CD from Countrywide Bank (5.45% APY) that will mature in mid-July. We have a total of $73K in 401(k) and Roth IRAs. In June, our retirement portfolios (-5.9%) inevitably shrinked as the market declined (S&P 500: -8.5%) but I care less about that as long as we’re dollar cost averaging (DCA) along the way. Most importantly, all our retirement accounts are expected to be maximized this year. - Credit Card Debt
$22K is the money borrowed free from a 0% APR balance transfer offer that will soon expire at the end of July. The rest is just my regular expenses paid with cash rebate credit cards like Chase Freedom (up to 3.75% cash back) that will be paid off at the end of the billing cycle. - Mortgage
The only loan we have is the mortgage for our primary residence.
- Automobile
Our Honda Accord had scheduled maintenance at 90K miles and a couple wear and tear replacements for the brake pads and ball joints. The replacements weren’t in the budget so that hurt a little bit.
Must-Have Credit Cards in Your Wallet:
July 3rd, 2008 at 1:15 pm
You know, I have to tell you, I really enjoy this blog and the insight from everyone who participates. I find it to be refreshing and very informative. I wish there were more blogs like it. Anyway, I felt it was about time I posted, I’ve spent most of my time here just lurking and reading, but today for some reason I just felt compelled to say this.