Net Worth Update – December 2017

Overall, my net worth grew by 6.13% during the month of December. I am pleased by the progress of portfolio. More importantly the discipline with which I have been able to pay off my student loans.

For the year 2018, my financial goals would remain similar – pay off the loans, increase the dividend earnings, save more, and spend less.

Lets look at the balances breakdown for assets, and liabilities for the month gone by.

Assets:

1Cash in Bank Account$7,388.00
2Investment Accounts$27,694.50
3Pension$19,306.06
4Lending Loop$599.24

Liabilities:

1
Student Loans$17,230.00
2Credit Cards$0.00

Net Worth:

Net Asset Worth$37,757.64

Summary:

  • The cash balances for the month decreased by approximately 14%, largely due to the contributions to the Investment account, and additional student loan payments.
  • The student loan outstanding now sits at approx. $17k, which is more manageable. In the year 2017, I was aggressively paying towards this loan and plan to pay this out by Feb 2019 (although, I want to be done with this by December 2018).
  • My Lending loop increases for this month has been a paltry 0.48% from the previous month. Few months ago, I withdrew my funds from the account as the loan was paid in full before its duration date. You can find the detailsĀ here.

Year End Thoughts:

  • This was my first year of hosting the website, and tracking my expenses to better understand the state of my finances. I am glad to see how far I have come, since my first update.
    • From a net worth of approx. $20k in the month of July 2017, to $37k in December 2017. This is completely mind boggling.
  • Going forward, I would want to increase my cash amounts – as this would be my emergency fund.
  • Also, at this point I find the markets are pricey. I would want to wait for a correction to deploy the additional cash sitting in my bank accounts to buy stocks. At the same time, I find I would be more on the lookout for dividend stocks.
    • Dividend stocks would work well in the event of a downturn.

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