May ’10 Update

Yesterday was a tough day in the South East. Storms ripped across the state of Tennessee laying waste to many homes and at least 11 lives. Luckily we live in the valley and most of the storms break up coming through the plateau so the worst we saw was some heavy rain and a 5 hour long power outage. Nashville got 13″ of rain in two days which was more than twice the previous record. Keep those families who are dealing with flooding or the loss of loved ones in your minds as you go through your day today. Nature is a fickle thing and it doesn’t care what the balance of your bank account is.

For those of you who do care, here is my Net Worth update for the month. We picked up some temporary credit card debt paying for an upcoming trip to see my cousin get married. It will be paid off before the bill comes this month. Otherwise things are still on the up and up, I opened my investing account this past month and have already lost $12! Go me.

Assets
Cash Savings$19,568.00+$759.00
IRA$10,675.00+$216.00
Roth IRA$3,969.00+$377.00
401k$54,988.00+$1,852.00
Other Investments$692.00+$539.00
$89,892.00
Liabilities
Credit Cards$1,722.00+$1,722.00
$1,722.00
Net Worth$88,170.00+$2,021.00

{ 5 comments… read them below or add one }

1 Mr Credit Card May 3, 2010 at 4:27 pm

Don’t mean to be picky here. But if you charge something to your credit card and expect to pay it off at the end of the month, that shouldn’t be considered debt! That’s just an expense that you conveniently used a credit card to charge.

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2 Kyle May 4, 2010 at 9:02 am

True, very true. In an effort for full disclosure I put it on there but you make a good point. If you don’t carry the debt it isn’t really debt at all now is it.

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3 Money Funk May 3, 2010 at 11:09 pm

Great job on building the Net Worth. Note to self: build Cash Savings like yours. :)
.-= Money Funk´s last blog ..Future Endeavors and a Giveaway =-.

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4 Sam May 4, 2010 at 12:43 pm

I thought in a previous version of your Net Worth chart, you had the house on there. Why is that not shown anymore?

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5 Kyle May 4, 2010 at 4:01 pm

That is correct, i used to include my home but I decided back in January to no longer include it in the calculation. I don’t see my home as an investment, it is where I live so I take it out the equation entirely. In fact last month I started identifying which members of the wealthy blogger list include their home in the calculation. A lot people have “inflated” net worths based on the perceived value of their home.

The equity you think you have in your house doesn’t actually exist until you sell the house at which point it is converted to cash at the price someone is willing to pay. Home value estimations aren’t always very accurate either so I just choose to leave it out.

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