Net Worth Update March 2008
This is the first net worth update and reflects the end of Dec’07 versus the end of Mar’08. Going forward I will publish it on a monthly basis and add in a comparison of current month to last month. The last couple and the next couple months may show a flat or even dipping net worth. We are paying off some business expenses and loans, as well as what is looking to be a nice hefty $7-8K tax bill in April.
The credit card category has a high balance intentionally and is 0% APR for 18 months. It is being used for a combination of arbitrage and as a short-term 0% business loan. Our cash on hand is well over $100K and covers this card.
My active 401(k) is going up quickly as expected. I am currently contributing substantially more per month than the ~$1,300 required to hit the $15,500 maximum. SomeGal currently cannot contibrute to a 401(k). Look for separate posts on both these topics in the near future.
I have conservatively estimated the value of Rental Property 1 increasing to $140,000 based on substantial repairs and improvements and from comparable solds in the area.
2 responses so far ↓
1 All taxes done; major ouch! - A personal finance blog about money, budget, investing and its effect on life // Apr 17, 2008 at 8:43 am
[…] be very depressing to see a hit to our net worth at the end of April.
2 Update on our 401(k) situation - A personal finance blog about money, budget, investing and its effect on life // Apr 30, 2008 at 6:36 pm
[…] mentioned in the most recent net worth update, I will max out my 2008 contribution at $15.5K as I did my 2007.
Leave a Comment