DINKs July 2013 Net Worth

by James on July 30, 2013 · 8 comments

Hi All,

This weekend we sat down and tallied up our net worth.  The figures for July are below.

The good news is that things are up overall, largely from gains in our retirement accounts.

We seem to have found some magic growth number.  Back in May we had seen an increase of 3.3% to $937k net worth, and when we did the math this time around, we were again up 3.3% to $968k.  At that rate, a million is attainable by around October.

JM Net worth July 2013 v2

While single digit returns aren’t necessarily something to write home about, averaging a $10k increase per month feels pretty good.  It also means that we are that much closer to the $Million$ mark.  In retrospect, getting to the million dollar mark feels very attainable now.  It was only five years ago when we inched our way to the $400k mark, and now a million is clearly within sight.

We are reminded that steady progress is what it takes to attain and maintain goals, and that progress is all about perception.  At this point we are kicking around a couple of ideas to help keep things moving.

1. Refinancing the mortgages on our primary residence.  We think we should be able to shave a three or four hundred off our monthly payments and hopefully get some cash out.

2. Purchasing additional websites.  Some web based business are strongly cash flow positive because of the very low material costs involved in maintaining the business.   We obviously own and partially operate this website, but would like to potentially get a few more.

3. Investing more in peer to peer lending.  Our annualized return at prosper.com has run something like 7% over the past 3 years – its way better than bonds or cash.   So, we’ve been considering adding a bit more capital there.

4. Continuing expense reduction.  James is paying something like $150.00 per month in cell phone bills, which is LOTS more than the $50 Miel pays. We’re planning on transferring James over to Miel’s plan – it should save $1,200 over a 12 month period.  Plus, it’s about time to hit Comcast up for a reduction as well!

So, folks if you have any great ideas that will help bust the $1,000,000 mark, please don’t hesitate to let us know!


Miel & James

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