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October 2011 Net Worth Update - Personal Profitability

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I bought a home! I took one more step toward the American dream. I am a homeowner. If it were 1779, I just qualified to vote.

As you can see, I spent pretty much all of my cash. My down payment and closing costs came to about $34,000 all together. I sold stocks and used cash for the purchase, but I did not have to touch my Roth IRA and did not have to make any major changes to my spending or savings habits.

According to Zillow, I made quite a deal when I purchased my new condo. I had an instant equity gain by purchasing below the “market value” of the home. Of course, the value is really only what someone is willing to pay for it. But I also took on over $100,000 in debt from my new mortgage loan. All in, I am $110,000 in debt. That sounds like a lot, but I have big plans to pay it off quickly.

The breakdown is below:

Assets $ Diff % Diff
Cash $1,904 ($29,440) -93.93 %
Stocks $429 ($6,829) -94.09 %
Bonds $0 $0
Annuities $0 $0
Retirement $17,420 $2,069 13.48 %
Home $175,000 $175,000
Other Real Estate $0 $0
Cars $14,528 $0 0.00 %
Personal Property $0 $0
Other $327 $3 0.93 %
Total Assets $209,608 $140,803 204.64 %
Debts $ Diff % Diff
Home Mortgage(s) $102,983 $102,983
Other Mortgage(s) $0 $0
Student Loans $7,358 ($50) -0.67 %
Credit Card $84 $69 460.00 %
Car Loans $0 $0
Other $0 $0
Total Debts $110,425 $103,002 1,387.61 %
Net Worth $99,183 $37,801 61.58 %

The post October 2011 Net Worth Update appeared first on Personal Profitability.


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