My Financial Report - August 2008
- Net Worth
Our net worth went up 1.5% (+$2,690). - Cash Savings
The stock market shows no sign of relief, so I’m not ready to dump more cash into the taxable trading account. However, I’m heavily considering paying extra to my mortgage since, at a minimum, the risk-free return is as good as the best 5-year CD rate today (~5.00% APY). The majority of our cash is now sitting at high-yield savings accounts such as HSBC Direct (3.50% APY) and E*Trade Bank (3.30% APY). We also have $10K worth of I-Bonds bought at the end of April with a guaranteed interest rate of 4.28% until September. - House
That’s not a Zillow estimate but the price we paid two years ago. Zestimate for our house is currjulently 9% higher than our purchase price. For the sake of simplicity, I will continue to use the purchase price unless Zestimate goes significantly below it. - Retirement Funds and Taxable Accounts
We have a total of $78K in 401(k) and Roth IRAs. In August, our retirement portfolios went positive (+0.3%) as the market rebounded (S&P 500: +1.2%). My new fun portfolio at Zecco (10 free trades every month) is already taking a a hit, that’s not so fun… - Credit Card Debt
$1.4K is my regular expenses paid with my favorite cash rebate credit cards - Chase Freedom (3% cash back in top 9 categories) and Chase Business Cash Rewards (3% cash back at gas stations, restaurants, and home improvement stores). The total balance is to be paid off at the end of the billing cycle. - Mortgage
The only loan we have is the mortgage for our primary residence.
- Insurance
It’s time to renew our homeowner’s insurance. In order to lower the insurance premium, I had the deductible amount raised from $500 to $1,000. Before the renewal, I did some price comparison shopping and confirmed that our renowned insurance carrier beat all other quotes.
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