Net Worth – May 2016

Hello World,

Every month, I will post my personal net worth. With the usual bi-weekly paychecks, I was able to buy 4 positions, in such a way where I now evenly get dividend payouts 5x a month! 5 extra paychecks a month.. What a blessing.. Albeit the payouts are still small. The machine with the new additions and dividend reinvestments is spitting out roughly 19$/month, 58$/quarter & 234$/year. Nice bump from the 13$/month, 39$/quarter & 139$/year from last month when I first started.

My 401K had a nice bump from the 5% contribution the firm I work for pays quarterly ( ..F,M,A,N  =].. ). I also touched a bit of my savings to invest more in these dividend payers. Can’t help it, it’s an amazing feeling knowing I own a piece of these companies.

I am actually thinking of purchasing a condo. I know, Real Estate is not the #1 asset class, but I am 26 and would like to have a place to finally call “home”. Can’t live in the rents house forever and I see a lot of people my age & older still doing so. My generation is kind of pathetic.

Shopping for a nicely kept 1B1BR condo under a 6 figure value, 15 year mortgage, in a safe area that has a shorter commute from where I am. With the low rates now, and with rumors of hikes in the future, if I can swiftly pay down the loan and lock down the rate, I can use the condo down the line as an investment to earn more passive income! Under 6 figure mortgage is doable with my salary IMO. With hard work, healthy habits, hustle and brain muscle, I believe this life can be nothing sheer of incredible. I will continue to push myself.

My personal net worth will be significantly lower (1st world problems) when factoring in the loan. But it’s personal finance for a reason; I want to leave my parents nest and spread my wings.. It’ll be tough to purchase as many stocks with all the new expenses, but I will, as always, do my best to continue buying up those amazing dividend payers.

We’ll see what June brings!

CHECKING $845.83
SAVING $4,501.50
BROKERAGE $7,278.05
401K $9,462.70
TOTAL $22,088.08

 

4 thoughts on “Net Worth – May 2016”

  1. Hey MM.
    Congrats on creating wealth bud.
    I think it’s a great idea that you’re thinking of purchasing real estate. Think things through bud and give it a lot of thought. Maybe tough it out and live with your parents a bit longer to build up more cash. To be honest, moving out of the house and getting away from my parents was 1 of the best things I did; My parents are too controlling and toxic with their comments. I had to get away and our relationship is a lot better that I don’t see them everyday…
    Best of luck.

    1. Hey DH,

      You hit the nail on the head. My parents are indeed the same way, tough handling 4 boys in a house, but they’ve managed for all these years. I can see our relationship improving exponentially if I leave their nest. We have a great loving relationship now, but I can almost guarantee that providing for myself is going to make me a stronger & wiser person, which in turn will make our relationship much better than it already is. Self-reliance is so key in our world. A lot of people in my generation are not self-dependent like the older generation was, they are still relying on others to get them to live properly. I would like to change that.

      Thanks for the comment DH!

      MM

  2. Good luck with the house hunt. Owning a reasonably-priced property can be wonderful. Just to be clear, having a loan doesn’t decease your net worth because the asset has value…even if you borrow 100% of the value, your net worth would be unchanged.

    1. Great way to put it RoseRelish & thanks for the kind words. Decided to build some cash before I make my move (all pun intended). I’ll wait till summer fever ends while I continue to look for a great value so then by late August, early September I should be good to go. This year has been one of the most progressive years of my life. I gave all that I had to my parents and close friends even after losing so much day trading, and now the universe seems to be paying me back slowly. Life is surely an amazing course.

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