Thursday, September 3, 2020

Income & Expenses For August 2020: Saved $791.01, 77.85% of After-Tax Income

Since 2014, I have been tracking my monthly income and expenses. You can see a breakdown of every penny I earn and spend. 

By documenting my journey, I aim to demonstrate the feasibility of saving a significant portion of your income and provide some ideas and inspiration for your own budget.

Below are my income and expenses for July 2020. I semi-retired in July 2020, after ten years of full-time work. You can see all my monthly budgets since 2014 here and here.
Aug 2020
Income
Wages$0.00
Dividends$290.69
Other Income$725.36
Total Income$1,016.05
Expense
Federal Income Tax$0.00
Federal Tax Pmt/(Refund)
FICA-SS
FICA-Medicare
Housing
Student loan repayment$0.00
Food$75.88
Gasoline
Car Insurance107.32
Car Reg/Tax/Maint
Cell phone
Electric$6.67
Water$29.84
Gas/Heating$5.33
Total Expense$225.04
Surplus/(Deficit)$791.01
Before Tax Saving Rate77.85%
After Tax Income$1,016.05
Ex-Tax Total Expense$225.04
After Tax Saving Rate77.85%
Goal95.00%

Net Worth Update August 2020: $2,019.551.58 (+$116,534.04, +6.12%)

Welcome to my monthly net worth update! Here is how my assets, liabilities, and net worth have changed over the past month:

Beginning balance
on 8/1/2020
+ Cash inflow
/(outflow)
+ $ P/L= Ending Balance
on 8/31/2020
% P/L% Equity
ASSETS
Current assets
Cash17,991.27(14,380.12)0.003,611.150.00%0.18%
Bonds26,484.25(82.12)497.9826,900.111.88%1.33%
Stocks1,440,972.829,785.0495,859.521,546,617.386.65%76.58%
Total current assets1,485,448.34(4,677.20)96,357.501,577,128.646.49%78.09%
Tax-deferred retirement account272,096.9316,912.65289,009.586.22%14.31%
Roth IRA90,467.243,644.9094,112.144.03%4.66%
Home43,000.000.0043,000.000.00%2.13%
Gold21,281.52(21.54)21,259.98-0.10%1.05%
Other non-current assets632.3240.0036.38708.705.75%0.04%
Total assets1,912,926.35(4,637.20)116,929.892,025,219.046.11%100.28%
LIABILITIES & EQUITY
Liabilities
Current liabilities4,380.10(4,241.35)0.00138.750.01%
Long-term liabilities
Student loan5,528.710.000.005,528.710.27%
Other non-current liabilities0.000.000.000.000.00%
Total liabilities9,908.81(4,241.35)0.005,667.460.28%
Equity (net worth)1,903,017.54(395.85)116,929.892,019,551.586.14%100.00%
Net worth: Bottom line up front, my net worth increased by $116,534.04, +6.12% this month due to marked-to-market investment gains ($116,929.89, -0.02%) partially offset by net cash outflow ($395.85, 0.87%).

My net worth has reach a new milestone: exceeding $2M for the first time!

Here is the breakdown of my balance sheet:

Portfolio Update Aug 2020: Bought 8 Stocks

The time has come for my monthly portfolio update. At the end of every month, I will update my portfolio and comment on any changes. I do that for accountability and also so you may glean some ideas on how I allocate my capital. You have the opportunity to learn from what I do well so you can do the same, as well as what I do poorly, so you will not have to repeat my mistakes.

Follow my real-time portfolio here. Below is a snapshot of my stocks and ETFs portfolio as of 8/31/20:
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Options Update: August 2020

Welcome to my monthly options update!

Here, I shall write monthly options update articles to keep track of options trades in my portfolio. Each options update serves as a status report on the open options and the obligations I have. A running tally of all my options trades and income to date are found on the Options page.

This was a quiet month for me, as I did trade any options.

Assigned Options

No option got assigned this month.

Thursday, August 6, 2020

Income & Expenses For July 2020: Saved $16,634.90, 99.11% of After-Tax Income

Since 2014, I have been tracking my monthly income and expenses. You can see a breakdown of every penny I earn and spend. For perspective, this budget is for a household of two in a small US city. 

By documenting my journey, I aim to demonstrate the feasibility of saving a significant portion of your income and provide some ideas and inspiration for your own budget.

Below are my income and expenses for July 2020. You can see all my monthly budgets here.

Jul 2020
Income
Wages$22,516.68
Dividends$449.77
Other Income$642.98
Total Income$23,609.43
Expense
Federal Income Tax$3,559.51
Federal Tax Pmt/(Refund)$3,415.02
FICA-SS
FICA-Medicare
Housing
Student loan repayment$0.00
Food$89.20
Cell phone$11.87
Electric$6.40
Water$35.03
Gas/Heating$4.78
Total Expense$7,121.81
Surplus/(Deficit)$16,487.62
Before Tax Saving Rate69.83%
After Tax Income$16,634.90
Ex-Tax Total Expense$147.28
After Tax Saving Rate99.11%
Goal95.00%

Saturday, August 1, 2020

Net Worth Update July 2020: $1,903,017.54 (+$107,965.98, +6.02%)

Welcome to my monthly net worth update! Here is how my assets, liabilities, and net worth have changed over the past month:

Beginning balance
on 7/1/2020
+ Cash inflow
/(outflow)
+ $ P/L= Ending Balance
on 7/31/2020
% P/L% Equity
ASSETS
Current assets
Cash(47,018.09)65,009.360.0017,991.270.00%0.95%
Bonds26,417.41(56.67)123.5126,484.250.47%1.39%
Stocks1,411,624.96(45,286.97)74,634.831,440,972.825.29%75.72%
Total current assets1,391,024.2819,665.7274,758.341,485,448.345.37%78.06%
Tax-deferred retirement account261,433.9710,662.96272,096.934.08%14.30%
Roth IRA86,758.843,708.4090,467.244.27%4.75%
Home42,000.001,000.0043,000.002.38%2.26%
Gold19,127.522,154.0021,281.5211.26%1.12%
Other non-current assets562.8140.0029.51632.325.24%0.03%
Total assets1,800,907.4219,705.7292,313.211,912,926.355.13%100.52%
LIABILITIES & EQUITY
Liabilities
Current liabilities327.154,052.950.004,380.100.23%
Long-term liabilities
Student loan5,528.710.000.005,528.710.29%
Other non-current liabilities0.000.000.000.000.00%
Total liabilities5,855.864,052.950.009,908.810.52%
Equity (net worth)1,795,051.5615,652.7792,313.211,903,017.545.14%100.00%
Net worth: Bottom line up front, my net worth increased by $107,965.98, +6.02% this month due to marked-to-market investment gains ($92313.21, 5.14%) and net cash inflow ($15,652.77, 0.87%).

Here is the breakdown of my balance sheet: