Financial Update Report – November 2017

Michael QuanFI / FIRE, Investment, Misc, Net Worth12 Comments

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Financial Update Report – November 2017

Below you will find a snapshot of our personal financials for the month for November 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!

November Overview

November always feels like it flies by so quickly!  Did you have a nice Thanksgiving?  Are you ready for the holidays?

Thankfully, I didn’t overeat this past Thanksgiving.  However, I did venture out and eat some tasty treats that I haven’t had in months since my cleanse.  It was quite delicious, but I’m back to eating more health-conscious choices.

Anyhow, I’m happy to report that we’re still on the other side of $2M again (as first noted in October 2017).

Let’s have a quick look at how things penciled out last month.

Net Worth Summary

Financial Update Report – November 2017

Net Worth continued to climb in November.  We ended up at $2,021,593 vs. $2,003,213 this past October.  This is an $18,380 increase in our net worth or +0.9% by percentage.

Similar to months past, most of the gain here was attributable to new real estate values and our portfolios increasing with the rising markets.

Here is what the entire 2017 year looks like so far.  NW has climbed $282,260 so far or 16.2%.  (Compared to $1,739,333 at the end of December 2016).

Cash Flow Summary     

To continue with our 2017 theme, November was once again a negative cash flow month, with a loss of -$2990.  This was better than last month by half, but a cash loss nonetheless… I’ll discuss specifics below. 

Income of $11,817 for the month remained lower than usual due to one Vegas property still paying off its recent turn over costs.  This CAPEX expenditure will be completely paid off this month, so next month we’ll be back to receiving full income.

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

Rental income has finally stabilized after a tumultuous year of tenant turnovers and repairs.

Expenses

November’s expenses of $14,807 were the higher than normal primarily because of additional FBA costs (shipping from China to the US – approx. $1450).

It’s actually not noted in the graphic above because I realized too late that is was miscategorized as a transfer instead of an expense.  So, it’s a good note to always review your transactions closely to make sure your snapshots are accurate!

On a related note, my wife recently asked me what our cash expenses are without the real estate, business, and discretionary travel expenses.  After looking at the past 12 months, this came out to ~$9800/month.

 

Portfolio Balances (Equities)

Our portfolio was below the S&P 500 this month by roughly a quarter of a point (1%).  I’m actually in the process right now of evaluating a firm to help me manage my assets for a while.  They are a complete fiduciary and well-regarded wealth manager.  I’m most interested however if where I find additional efficiencies within tax strategies I’m not currently making use of now.

Final Thoughts

This month I plan on funding our Roth IRAs again.  It technically doesn’t need to happen until April 15th of next year, but I like having the actual transaction pegged in 2017 for the year of.

Other than that, we have several charities we donate to this time of the year so that coupled with the holidays will surely make for another month of the same theme… not that I’m complaining.  🙂

December is going to start-up slow and finish up in a whirlwind with our trip to Ireland and London.  It’s gonna be fun (and cold).

Readers, how was your November?  What do you need to finish up before the year ends? 

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12 Comments on “Financial Update Report – November 2017”

  1. Hi Michael Another 2m net worth month congrats ! I hope you post about your up coming trip to London and Ireland. Have a great trip.

  2. Ireland and London! How lovely! I’ve never been to Ireland but have always wanted to. Hope you have a nice pint of Guinness.

    How come you are wanting to hire a financial adviser to manage your portfolio? Sounds like you are are doing a great job of being so close to the S&P500.

    1. I do hear the Guinness factory is a top attraction there!

      In answer to your question, it’s more about managing my overall assets to help protect and grow it with the best sophistication as possible. For example, I’m not really doing a good job managing tax harvesting opportunities, rebalancing, and staying invested (I’ve tried to market time too much in the past). The advisor firm also has a staff of CPAs and lawyers to help advise on tax planning, estate planning, etc. Having said that, if I don’t see the value after a year, I’d probably go back to doing it myself. 🙂

  3. I’d love to see a future post on your experience, cost, etc. with financial planners. I’m in a similar situation and know I could be doing better with regards to taxes. However, I guess that could still change in 2018. I also need guidance on how to structure accounts so they are available at various times moving forward. Wife and I have spent so much time accumulating and investing, that we haven’t really thought about how and when to handle the spending later in life.

    1. Definitely more to come as we start working with the financial planning firm. Like you we’re looking for better tax strategies across our assets, so we can keep more of what we make! Glad to hear you have spend a good amount of time accumulating and investing. Figuring out what to do with it here on in is the fun part! 🙂

  4. Great November Michael, and nice net worth increase! Enjoy the trip to London and Ireland!

    (btw: still want to see an update on the FBA project)

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