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October 2010 net worth update

October 20th, 2010 at 09:00 pm

Assets:
NT's UK pensions:
#1: 12,663 pounds ($25,326)
#2: 16,005 pounds ($32,010)
#3: 3,709 pounds ($7,418)
NT's 401(k): $10,376
AS's 403(b): $3,300
AS's IRA: $1,682
AS's 401(k): $1,005
CJ's 401(k): $35,078
NT's flat: 130,000 pounds ($260,000)
CJ & AS's condo: $160,000
Baby/emergency fund (shared asset): $8,634
---
Total Assets: $544,829

Total Debt: $356,205

Current Estimated Net Worth: $188,624

August 2010 estimate: $181,108

Change in net worth: +$7,516

Summary: All of our U.S. retirement funds posted gains, and I also got an annual notice of gains on one of NT's UK pensions. We also of course paid off the last credit card, so debt decreased by a bit. All in all a great month! I don't expect I'll do much with either debt or savings for the rest of the year, so our gains will probably be more modest. But I do plan to start Roth IRA accounts for all of us in 2011, so that will help the balance sheet.

I will update my "Individual Net Worth" page shortly so you can see how it breaks out per person.

Notes on the numbers above: House value estimates are fairly conservative. I don't have a way to check NT's UK pensions or flat value, so their values stay static for the purpose of this update (unless I happen to get some info by chance). UK asset values and debt amounts are calculated figuring $2 for every British pound, which was the exchange rate when I started keeping track. I maintain that ratio for the purpose of tracking progress, even though the exchange rate is now closer to $1.60 per British pound.

Posted in Tracking Net Worth | 3 Comments »

3 Responses to “October 2010 net worth update”

  1. FB @ FabulouslyBroke.com Says:
    October 21st, 2010 at 01:07 am 1287623261
    1287623261

    Wow you are well on your way at least Smile I saw the $544,000 and thought "holy cow!" Smile I still think that, it sounds like so much.. What an inspiration.

  2. Jerry Says:
    October 23rd, 2010 at 12:07 am 1287792427
    1287792427

    Nice work! You are doing great, especially with the challenge of dealing with all of the things that two countries will lead to... how do you have insurance that you are getting the right information on your assets in both countries, do you have some expert help?
    Jerry

  3. ceejay74 Says:
    October 23rd, 2010 at 04:36 am 1287808568
    1287808568

    Hi Jerry,
    We don't know at all! Since we don't have a lot of money in play, it's hard to justify the cost of finding someone who would be an expert in both countries' financial structures and our type of situation. So I'm still kind of flying blind.

    I did talk to a friend who's in financial fields, who said that the Roth would be a good gamble because wherever we live when we retire, we'll likely be making more (and be in a higher taxation system) than we are now.

    But yeah, a lot of times I wonder if I'm missing some key pieces of the puzzle that would help me make better decisions.

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