One of the main purposes of this blog is for me to track my progress to financial independence which I am well on my way to achieving. Each month I share the details of all investment accounts and the changes from the previous month.
July was a busy month for our household. After having a nice break celebrating the 4th of July I then spent 10 days in China for work. On the home front we had our three month tenant/roommate move out in the middle of July, with another (hopefully longer term) tenant moving in.
A tenant at one of my rentals decided to throw a curve ball before I left on my trip notifying me that she had purchased a home despite her being in the middle of her lease term. Time to panic? Not so fast. In the same email she explained that she had saved the remaining rent payments and would be continuing to pay rent. This is the first time I’ve been in this situation and what a good situation it is to be in. Here are the two scenarios:
- I am unable to find a quality tenant and rent continues to be deposited into my account as normal until the lease ends Spring 2016.
- I find a quality tenant and charge $1,000 to the current tenant for breaking the lease, walking away with $1000 more in my pocket for spending a few hours to find tenants.
We are currently in the process of renting the house and it looks like #2 is the more likely outcome.
Note: if you’re just joining us you can view my most recent net worth update here.
Mr.QCI Net Worth
P2P Lending: $24, 734 (+$810) – I added $500 to my account this month
401k: $33,410 (+$3091)
Vanguard Rollover IRA: $71,222 (+$2313)
Vanguard Roth: $25,212 (+$927)
Vanguard Taxable: $70,467 (+$4103)
Individual Stocks/Other Investments: $2028 (+$16)
HSA (amount invested only): $10,128 (+$771)
Total Investments: $237,201 (+$11,821)
Assets (Zillow estimated): $386,424.00 (-$1,935) – I don’t necessarily trust Zillow estimates, but this is what I am reporting for now. I continue to make minimum payments on all of my mortgages. You can see my real estate holdings here.
Liabilities (3 Mortgages): ~$254,321 (Updated: June 2016 – I plan to update this every 6 months or so, but I pay down about $6,000 of debt every year)
Net Worth: $373,304 (+$9886)
Miss QCI Net Worth
401k: $46,771 (+$3394)
Vanguard Roth IRA: $24,848 (+$688)
Rollover IRA: $3,780 (+$138)
Vanguard Taxable: $55,663 (+$2727)
Total Investments: $131,062 (+$8770)
Net Worth: $134,062 (+$8770)
Miss QCI, my wonderful significant other continues to crush it as well. She puts 50% of her income into 401k (the max allowed by the company) and still has room to invest in a taxable account – amazing!
Investments (what really matters): $368,263 (+$20,591)
Projected retirement income (assuming 4% rule): $14,730
Net Worth: $507,366 (+$18,656)
July was a massive month for the market and in turn our portfolio with over $20,000 in contributions/gains for the month. It’s hard to grasp just how much money we made this month, but this all could be reversed in a matter of days. We will see what August brings us!