As part of my goal to have six-figures invested, I'm posting periodic updates of my net worth. I missed posting in September, but in the grand scheme of things late September is pretty close to early October, so I don't feel too bad. Besides, the daily fluctuations aren't important. What's important is the focus on continually investing my excess cash so that my dollars are working for me.
My last net worth update was August 25th. Here are the current totals, along with the differences:
- 401k - $25,413.58 ($1,239.99)
- Lending Club - $2,374.32 (-$29.32)
- Schwab - $2,946.30 ($1,450.00)
- I-bonds - $1001.28 ($401.28)
- Total - $31,735.48 ($3,061.95)
The increase in my 401k was probably half from new contributions, and half from market increases. Of note I've been changing my contributions to the various mutual funds my plan allows. I think my new contributions are 100% into the utilities fund, and I rebalanced to somewhere around 80% utilities, 10% international, 10% REIT. I chose the funds mostly based on their relatively low (yet still insanely high) expense ratios.
My Lending Club account is showing a loss. This isn't due to someone defaulting on their loan. Instead, I withdrew around $60 of cash because I was scraping together money from my various accounts to buy some stock. Interest is still rolling in, and the notes I have seem pretty solid (no defaults yet), so I feel okay about Lending Club for the short term.
My taxable investment account at Schwab is showing a big increase. I bought another 100 shares of Corning (GLW), this time for $14.85. If you recall, I bought my first 100 shares of Corning back in March for $12.51. Back then I still had student loans. I'm excited about Corning. I love the company and I think that at current prices it could be a great long-term value (I'm talking 10 years or more). I currently have 201.3878 shares, thanks to two dividend reinvestments so far. Fractional dividend reinvestment is a big reason I like Schwab.
For the I-bonds, I'm opting to use the "current value" which includes accrued interest, even though I can't redeem the bonds until a year has passed since the date of issue. I am really happy with my I-bonds. Passing the $1000 mark feels good, and even though the interest rate is a measly 1.18%, my emergency fund is guaranteed not to lose value to inflation. I'd like to keep up my $200/mo contributions for as long as I can.
In the end, my investments increased by over $3k this month. This is really good. I don't think I can keep up this rate of increase, but if I can, I'll be at $100k in less than two years.
I have about $2k in cash. I'd really like to buy another 100 shares of Corning, but I think pragmatism is going to get in my way. I still have a little over $3k in 0% credit card debt that will come due in March 2014. I should also have a short-term liquid emergency fund for if and when I switch jobs. We'll see how the next month goes. Either way I'm feeling pretty good.