Financial Update Report – August 2017

MichaelInvestment, Misc, Net Worth22 Comments

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Financial Update Report – August 2017

Below you will find a snapshot of our personal financials for the month for August 2017.  This includes a brief synopsis of our net worth and monthly cash flow activity.

Curious as to WHY I calculate and share our personal net worth?  I explain it here.

Want to track your finance the same way?  See how I use Personal Capital to help create these financial reports absolutely FREE.  Also, download my budgeting spreadsheet found in my popular post – How to Budget Like a Bad Ass!

August Overview

This summer has been incredibly busy and August was no exception.

I returned home from my Panama fishing trip a few days ago.  It was an awesome experience, and I’m happy to be back home with my family.  🙂

This is a picture of a rooster fish (~60lbs) before we sent him back to the ocean.

*Since a number of you have inquired about my trip, I’ll do a separate wrap up post next.

Our financials this month were similar to July, and I’m happy to see it steady in my absence.

I’d still like to see some improvement in cash flow and will continue investing and hustling with my side projects (eg. FBA).

Net Worth Summary

Net Worth inched ahead with a tiny gain.  We ended the month of August at $1,919,580 vs. $1,917,748 this past July.  This is a $1,832 increase in our net worth or +0.01% by percentage.

Cash Flow Summary     

August was a negative cash flow month again with a loss of -$1331

Income of $13,996 for the month was back up with income returning for our San Diego rental property.

We had one hiccup with one of the Vegas properties as the tenant requested to do month-to-month.  This was fine, except he just gave notice a half month in!  So, back onto the market, it goes.

Our income is primarily made up from my wife’s teacher salary, rental income, dividend income, and misc investment income (eg. RealtyShares).

Expenses

This month were $15,328 which was above average for the year.

A large chunk ($2600) went to some dental work for my wife that needed to be taken care of, and $800 to our semi-annual auto insurance premiums.

Portfolio Balances (Equities)

Nothing too exciting to note on the equities front for me.  Things just keep humming along.  🙂

Final Thoughts

I trust you are enjoying your Labor Day Weekend?  Hope you are getting some well deserved R&R.

We are just laying low this weekend which is a nice change of pace!

I’ll do a write-up on my Panama fishing trip to change things up a bit next.  I took way too many pics and vid!  To give you some context, I took over 125 GB worth of media.  🙂

Anyhow, I’m still working on my FBA project and analyzing the tiniest of details to maximize profitability.  It’s looking okay at the moment, but I want to anticipate some hiccups as well.

I am also considering making an investment into a syndicated real estate deal which involves the purchase of a 190 unit Class-B apartment building in San Antonio, Texas.  Our thoughts and prayers go out to all of those affected by Harvey and who have been displaced.

Readers, how was your August?  Any notable changes or wins this past month? 

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Michael

Hi, I have been blessed to take an early retirement in my mid-30's so I can focus on becoming a better father, blogger, and investor.

My goal is to help you find your personal path to financial freedom, and to enjoy the entire journey.

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22 Comments on “Financial Update Report – August 2017”

  1. Wow, 125GB is a heckuva lot of video/pics from your Panama trip – must have been a memorable trip! Love the pic with the rooster fish and looking forward to your Panama post!

    — Jim

    1. Thanks! The market is still relatively strong in Vegas so it shouldn’t be too much of an issue. However, had it gone onto the market a couple months ago, it would have been even easier. Oh well, I guess that’s why I pay the PMs! 😉

  2. Congrats on another successful month of net worth! I’m glad you had fun in Panama. That fish is HUGE!

    I am super uber excited about for FBA endeavor since it’s something I’ve been thinking about but haven’t taken any action on yet. I look forward to more updates! ^.^

    1. Yes, it’s keeping me interested and I’m learning a lot about random things like import tariffs, etc. Hopefully, I’ll have a positive update in the next couple or months.

    1. Thanks, MPP! Yeah, the fish get pretty big down there and that wasn’t even the largest fish of the trip by far (my cousin caught a marlin). I just love the quills on the rooster fish’s dorsal.

  3. Wow, I’d never heard of a rooster fish before…that’s one crazy looking fish!

    Great month as always! I’d love to see more detail about what “other income” and “uncategorized” area all about. I assume investment income is all your dividends?

    Sorry, I’m a bit of a dividend “nerd”.

    I’d also love to see more from your Panama trip, but the FBA side hustle is what interests me most.

    1. Yeah, I’d never seen a rooster fish in real life before… such a gorgeous fish!

      The other income is primarily made up of lending club note payments, a stipend from my wife’s teaching conference, and the income from our rental properties.

      Stay tuned for more FBA updates in the next couple/few months! 🙂

  4. Welcome back!

    August was a turning point for us – lowest low in terms of stress with our massive renovation project but we’re passing the hardest part and we are gaining hope that this will be completed and as close to on time as possible considering all the new work we had to add to the project.

    Last month the work felt endless and impossible to get through.

    Also we prepped to put our place on the market so that’s been a roller coaster as well and I’m really excited to close that chapter and especially bank that sale money! 😉 Having two mortgages has been Not Fun.

  5. Hi Michael
    I’ve just found your blog and enjoyed reading it. Seems that you had a pretty good month, money seems to be working for you and the Panama trip looks awesome. I’m glad to see that your costs are closer to what mine are – I was getting depressed😂 seeing how much less others seem to spend compared to me!
    By the way, in your “about me” section, I see that you are targeting to get to $10 million. Is this just a plugged number or have you calculated it as the amount you need?
    All the best, David

    1. Welcome, David! I’m the same way as you… constantly in awe at how little others spend. Nothing wrong with that, but I haven’t cracked that nut yet. 🙂 So, the $10M is just a number that I’m confident I could live even more comfortably within and something to grow towards. I don’t like sitting idle and despite being retired, I still enjoy hustling and creating BHAGs (big hair audacious goals). Congrats on your own early retirement!

    1. Wow, that’s truly exciting Erik! Wishing you all the best for stellar cash flow numbers and a fantastic addition to your portfolio. 🙂

  6. Always nice to see an increase in net worth! I look forward to hearing more about your trip. What a neat looking fish!

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