Quest for a Million – Net Worth – 8/2011

Net worth (ex-real estate) took a hit this month largely due to the gutless, witless political posturing by the folks in Washington that mired the equity markets for the past month.  I look forward to an equally disappointing display from both parties in the coming months as they fail to overhaul the tax system or revise entitlements.  It should be great fodder for the Daily Show though.

On the homefront my employer was purchased near the end of July.  This leaves me in employment limbo for the next couple of months as the purchase moves through the regulatory review process.  Thus, buying restraint is in full effect at our house as we try to build a larger cash cushion just in case I lose my job.  I consider that an unlikely scenario, but I'm leaving nothing to chance.  I have submitted my resume for one new position and alerted my network to be looking out for any possible for positions for me.  Separate from that, 4 cavities in the kid's mouth represents an uninsured and unexpected $1,000 debit.  It turns out that flossing thing is kind of important.  This has even inspired me to start flossing!  Perhaps I'll have a nicer smile on interviews.  That's looking at the bright side.

Down to the business of the family finances.  My home appreciated 2% on-paper this month according to Zillow.  I'm happy to see this because it's a nice offset to the on-paper losses in my retirement accounts and 529 plan.  Savings is artificially inflated by about $5,000 in business expenses.  You can see the corresponding liability in my credit cards.  

As I write this the DJIA is down 250+ points.  If this keeps up, I'll be buying on the dips as I still hold a significant amount on the sidelines.  I tried to get in just before the close today, but missed it by seconds.

Net Worth August 2011

ASSETSThis Yr.vs. Last Mth.
Real Estate
My Home (Zillow) $368,200
All Accounts $35,547
All Accounts $228,666
529 Plan $12,360
Brokerage $5,385
Total Assets $650,157
Credit Cards*
All Accounts $11,325
Student Loans
All Accounts (1.5% and 2.5%) $64,924
Mortgage Loans
My Home (4.3875%; 30 yr fixed) $297,864
Total Liabilities $374,113
NET WORTH $276,045

* Credit cards paid in full every month every time.

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