Thursday, October 9, 2014

Net Worth (Update) - 3rd Quarter 2014

 
Originally, I was only planning to provide annual Net Worth updates.  However, since I am now part of an active list of bloggers who provide their net worth on Rockstar Finance's page - The Ultimate List of Blogger Net Worth, I have decided to start providing quarterly updates.  Providing quarterly updates will allow us to keep our readers more updated with our overall progress towards Financial Independence. It will also allow us to stay accurate and current on the Rockstar Finance's Ultimate List of Blogger Net Worth.
 
As of the end of September 2014 (3rd Quarter), our family net worth is as follows:
 
Retirement Savings:                       $374,652
P2P Lending Accounts:                    $ 17,713
Dividend Stock Accounts (DSA):      $ 51,162
DSA - Surplus Cash:                       $ 14,305
Investment Accounts:                     $ 26,307
Cash and Savings:                          $ 88,177
 
GRAND TOTAL
$572,316
(Increase of $6,445 since 6/1/14)
 
As posted in our recent Mortgage Update, our Home Equity is:
$441,174
(Decrease of $1,764 since 6/1/14)

Well, even though this past quarter was not very impressive, I must say I am happy to report that our Net Worth continues to climb (albeit slower than we would have like).  With the market stumbling a bit lately, we are definitely glad we are not reporting a decrease to our Net Worth. 

In the end, I'm happy to also say that we are still technically millionaires (on paper). Unfortunately, a millionaire in California (and especially Orange County), is nowhere near Financial Independence. We, therefore, will continue forward on our journey and hopefully we will reach the finish line in 13 years (or less). :) 

NOTE: If you follow us, you know that we do not consider the home equity in our home as part of our net worth. Although others do consider home equity, and even cars, collections, etc. as part of their net worth, it is our opinion that since these items are not very liquid and the value of these items is highly dependent on what others are willing to pay for them (at the present time), we have decided not to consider these assets as part of our recognized family net worth.

18 comments:

  1. A positive change in quarterly net worth is always a good news. Thanks for sharing

    R2R

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    1. R2R - Yes, I agree. An upward trend is always nice to see. Although a downward trend could mean a nice opportunity to put some capital to good use.

      Thanks for stopping by. Best Wishes! AFFJ

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  2. Great progress. Your retirement account is looking great. :)

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    1. Tawcan - Thanks. For the most part, retirement savings is on auto-pilot. I re-balance those portfolios twice a year and sometimes change my future allocations as well. AFFJ

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  3. AFFJ,

    I agree with Tawcan that your retirement account is very impressive. Are you planning on accessing it through a 72t early distribution plan to help fund your early retirement? That will be part of my plan unless I can figure out a way to make it with just my taxable account.

    MDP

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    1. Our retirement savings consists of a pension, 457K plan and Roth IRAs. Our plan is to live of the pension and delay tapping into the 457K and Roth IRAs as long as we can. If possible, we'll wait until 70 1/2 when the mandatory distribution kicks in.

      One of the main reasons why we are trying to build our dividend stocks portfolio and concurrently pay of our mortgage is to help us delay tapping into those two accounts.

      AFFJ

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  4. Your holding a lot of cash. What is your reason?

    Other than that, Getting close to million. good luck

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    1. I agree that we have a lot of cash in our reserves. Our reason for stock piling cash was simply not knowing how we'd manage going from two income to one while raising to children. With approximately 6 years of this lifestyle, and the job market seeing more stability, it is definitely time to move some of that cash into some quality investments.

      As you may have already noticed, we've already begun investing more capital each of the last two months. We plan to keep this buying spree up well into the new year, especially if the market continues to offer great buying opportunities. :)

      Thanks for stopping by...best wishes! AFFJ

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  5. Looks like you're doing really well. I was also going to ask about the large amount in cash--sounds like a good plan to move more into investments. Thanks for sharing!

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    1. Thanks for stopping by Mrs. Frugalwoods. A rising net worth is definitely something we hope to achieve each quarter. Rise or fall, we hope you continue to stop by periodically to see how we are doing on our journey. :) AFFJ

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  6. Thanks for sharing! You are looking very good at this point with over 1 mil on paper! Overall, impressive numbers.. Keep up the great work and I look forward to seeing next quarter!

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    1. SAD - Thanks for the kinds words and support. I feel we are on track with our plans and goals. This blog and also the dividend investing community has really helped us stay focused.

      Thanks for stopping by and for your comment. AFFJ

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  7. Congrats on the increase :) Just updated the net worth tracker!

    http://rockstarfinance.com/blogger-net-worths/

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    1. J.Money - Thanks for stopping by and for the compliment. Also, thanks for creating the net worth tracker...definitely provides a little extra incentive to succeed! :) AFFJ

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  8. An impressive number that I am fully jealous of! I am not a particularly extreme person, but would you consider leaving The OC for financial independence? or is that not on your radar either (I am on north shore long island so I feel that feeling of $1mil isn't a crazy number)

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    1. Evan - honestly, it is very comforting to know that the option to move to a less expensive place to live and/or retire does exist for us. I think we see it more like a potential security net. But I really don't think that my wife, nor I, am willing to re-locate at this point in our lives. Who know, maybe in retirement. :) AFFJ

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  9. Hi AFFJ

    Fellow OC blogger I just wanted to say hello and check to see if you were at the meet up last month on the 15th I know a few of us myself included did not have cards to pass out.

    Also I completely hear you about 1 mill not being so great here in socal but I am going to call it quits when I get there. The goal is to not have to much tied into non productive property ( our house)

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    1. Hi Roamer, I wasn't aware of the meet up last month. I'll have to keep an eye out for the next one. Sounds like I should come with cards though....thanks for the indirect tip. :) AFFJ

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