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Tag Archives: net worth

2015 Wrap Up and Net Worth Report

measuring assets and liabilites

Looking back, it’s been well over a year since I did a net worth update. Part of the reason is because it feels a bit like going out in public wearing only underwear. While I don’t feel totally comfortable being transparent; posting financial stats, good or bad, has always helped us grow. Here’s to hoping that trend will continue. Cash and Retirement Assets Cash: $43,041. I had hoped to whittle this number down to around $20,000 because cash in a savings account isn’t much better than cash under the mattress, but we do have about $12,000 in property and income taxes coming up in the next month or so. With our rental properties always being wild cards and a possible bathroom remodel happening later this year, it makes us feel better to have a good stash of cash. If we decide to forgo the remodel, we’ll find a better place to invest. Retirement Accounts (401k, IRA’s, 403b): $271,338 HSA: $19,841 Non-Retirement Investments: $11,896 Daughter Net Worth Technically this is still our money but will go to fund college or other worthwhile expenses for our daughter someday. Daughter 529 plan: $13,476 Daughter Roth IRA: $11,423 Daughter Brokerage Account: $275 Real Estate Assets ...

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Investment and Net Worth Update

our beach trip

Happy Friday everyone. I’ve been trying to make up for being on vacation last week by working all five days. Let me tell you, a 40 hour work week is for the birds. It makes me really want to buckle down so that I can be on vacation all the time (or at least not in the office). I’m thankful to have work, but working part time has certainly spoiled me. Because I want to keep dedicated to the idea of financial independence and all the freedom that comes with it, I thought it was a good time to share some numbers regarding our investments so far this year and the direction of our net worth. Plus, I really want to be in the Million Dollar Club at Budgets Are Sexy. Do you get a t-shirt with that? I don’t expect anyone to compare themselves with us. We’re all on our own path. If you haven’t planned for which direction you want your path to lead, today is the day to start. For a recap of our net worth from last October, you can check out in this post. Assets: Cash: $64,288. We’ve been hoarding cash for a tax bill ...

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Boosting Your Net Worth: What You Should Know About Life’s Common Liabilities

Your net worth is pretty simple to calculate, but there’s more to your finances than just a dollar amount. Even if you have a high net worth, the nature of your liabilities could be holding you back from your maximum potential. Your net worth changes frequently in response to your earnings, saving, and spending habits. If you want to increase your net worth from where it is now, you basically have three options. You can reduce your liabilities, increase your assets, or do a combination of both. Your Mortgage Your mortgage is probably your largest or most valuable asset. It serves a dual purpose – giving you a place to lay your head at night and building up a savings in the form of home equity. As your equity value increases, your net worth increases. But how do you increase the equity value of your home? Well, there are a few ways. You can wait for market forces to push up the total value of your home while you continue to pay down your mortgage. You can also do renovations to the home if you want to take a more proactive approach. In general, renovations like updated kitchens and bathrooms ...

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First Ever Net Worth Report

    Well it’s the moment you’ve all been waiting for, I’ve finally decided to post the Eyes on the Dollar Net Worth. I’ve seen some other bloggers who do this, and it usually inspires me to do better myself. I use a spread sheet in Google Documents to track our net worth so I don’t have to do any math. Determining net worth is easy. Add up what you own.Then, add up what you owe, and subtract the difference. Don’t get discouraged if you don’t come up with a positive number. We had a negative net worth for a long time. As long as you are moving toward positive, that’s the important part. I don’t expect that anyone else should have the same assets or liabilities that we do. Personal finance is personal, and everyone is at a different place in their journey. We all have different goals and time frames to achieve those. Let Me Explain   A few points before I share the numbers:  Yes, we probably have too much in cash. We have rentals, and something major could always need repair. I also sold a portion of my business this year, and I’m not sure what ...

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Does It Make Sense to Pay Off The Mortgage Early?

About two years ago, I went to an optometry conference hosted by the Public Health Service. I started my career with an PHS residency, and was very close to taking a career position with the government. I ultimately chose to go into the private sector, and bought my own practice in 2002. It has been rewarding in many ways, but I was growing disillusioned with being a business owner, and this conference made me consider going back to working at a government clinic. The wheels started turning, and now I am a month away from selling my practice. Since the buyer has worked for me for the past two years, I am comfortable carrying his business loan as a seller finance.  I will continue to see patients part time in my old office and at a public health clinic (best of both worlds!) on a part time basis. I own our office building, and the buyer will stay in the same space and rent from me. With my husband’s income, my part-time income,  rental income from our residential and commercial properties, and the loan payment from my buyer, we should be doing well barring some unforeseen circumstance. Now that I’ve gone around the world with that introduction, the big question of ...

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