Financial Update Report – January 2017

MichaelInvestment, Misc, Net Worth11 Comments

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Financial Update Report – January 2017
Financial Update Report – January 2017

Below you will find a snapshot of our January financials – including a brief synopsis of our net worth and cash flow.

Find out WHY I calculate and share our net worth – here.  Please note Personal Capital is FREE to use and a very powerful tool I use to help create these financial reports.

Want to track your own personal finances as I do? Download my free budgeting spreadsheet.  Check out my post – How to Budget Like a Bad Ass!

January’s Overview

Financial Update Report – January 2017

And just like that, we’re into February! How was your January?

NW for us was up a touch and we had a lot of expenses this past month.

Net Worth Summary

We ended the month of January at  $1,745,425 vs. $1,739,333 this past December.  This is a $6,092 increase in our net worth or +0.4% by percentage.

This nominal increase comes from the increased value of our real estate holdings, but cash flow was negative.

Cash Flow Summary     

Cash flow was negative for January primarily because of new travel expenses.

Financial Update Report – January 2017

Income of $13,687 was down from December, but inline with most months in 2016.

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

I finally shipped out my initial 100 units of product to Amazon’s warehouses, so I plan on doing to targeted ads to sell these.  I’ll be writing up an FBA post soon to discuss this project in further detail.

Expenses

So, let’s take a look at why January was such a large month in expenses for us.  Expenses of $16,931 were up a lot compared to last month.  A couple thousand can be attributed to charitable donations.  You see, I kind of procrastinated until the Dec. 31st to get some of my final donations in.  Because of this, some of the charges ended up appearing in January’s statement.

The other major outlier as mentioned above was for travel.

I recently took a vacation out to Texas which added a couple hundred in hotel fees.  I also pre-paid for a hotel in Los Angeles for March when I will be attending Tony Robbin’s UPW (hopefully – I’m on a waitlist).

Finally, I paid a $1800 as a deposit for a fishing trip I’ll be taking this coming August.  I’ll be traveling to Panama with a few cousins to visit a secluded fishing resort.  It’s expensive, but I’ve never taken a trip like this before, so I’m super excited!  The way I look at it is I need to travel like this while I’m still young and energetic.  🙂

Portfolio Balances (Equities)

Looks like we’re trailing the S&P to start off the year.  I’m not so concerned, but I do need to start moving some more of my stock allocation over to bonds this coming month.

As you can see from my allocation we’re still pretty heavily weighted in stocks.  I may move over an additional 8% or so to bonds, or at least some conservative dividend stocks (any recommendations?).

Thoughts

I’m definitely going to be traveling a lot in 2017.  We’re doing a family trip to Vegas in Feb, UPW with my wife in L.A. in March, New Orleans in April, Mammoth in June, Yosemite in July, Mammoth again in mid-July, Panama in August, and Vegas again in the Fall.  It’s gonna be busy busy!

Luckily I snagged a Chase Sapphire Reserve card for both my wife and me before the 100,000 point promo disappeared.  Those points will cover approximately $3000 in travel costs if I book through Chase travel.  This should more than cover my flight to Panama, our flights to New Orleans, and still have another grand in misc travel costs to cover.  If you’re still interested in picking one of these cards up, you might be able to do it in a Chase branch and snag the 100K bonus points, but it’s expiring Mar. 12th.

It’s rare that I sign up for a card, but this was too good to pass up.  After a year passes, I think I’ll probably down grade to a card that doesn’t have the annual fee.  That way I can keep my credit, but not have to pay the $450 annual fee any longer.  Anyhow, I thought adding this card would ding my credit a touch, but instead it shot up a few points to 826… go figure. 🙂

Readers, how was your start to the new  year?  Any thoughts on where the markets are headed?  When’s the last time you bit on a credit card offer to snag some sweet bonuses?

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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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11 Comments on “Financial Update Report – January 2017”

  1. Sounds like a fun fishing trip! Those Sapphire rewards will definitely come in handy. Fortunately my wife and I were both able to take advantage of that offer as well. We have one trip coming up this summer for a wedding planned but nothing else at this point.

    1. Nice GS, glad to hear you snagged the sapphire rewards as well! It really is incredible how that you can get 1.5x’s the normal points value when you book travel through Chase.

  2. Bravo on increasing that net worth month over month. And I love that you prioritize charitable giving. 🙂

    We did pretty damn well in January. We did the Frugalwoods’ Uber Frugal Month challenge and saved 55% of our income (we usually do 50%). Mr. Picky Pincher started brewing his own beer, which did have upfront costs, but should slash our beer budget in half for the year once it gets started. We’ve been doing more freezer meals and focusing on cheap pantry staples. Not too shabby!

    1. MPP, glad to hear you guys rocked it in January. 55% is awesome, congrats!

      Enjoy the freshly brewed beer. That will not only save you money but can be an engaging hobby. I had one friend that got so into it that she entered a few contests and won a couple.

  3. Like the sound of all that travelling coming up for you in 2017 Mike, that sounds great!
    Looks like a fairly standard month for you, hopefully the expenses come down in Feb for you..
    Jan for me was quite nice, expenses were and are trending down although we’ll see how Feb comes along
    Thanks for the update!

  4. Enjoy your travel this year. I got the sapphire card too, but just one. Mrs. RB40 really hates signing up for a new card and it’ll take more to make her do it…
    I think the card has a $300 travel expense refund, right? So the annual fee is $150. I’ll probably downgrade after a year as well.

    1. Haha, yeah I had to hand hold my wife through the entire process. 🙂

      And yeah, you’re right on the annual fee. I do like the added benefits of the lounges and global entry. 🙂

  5. Pingback: The Church of FI – Time Flies and January 2017 financial reports from the blogosphere | The Jolly Ledger

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