Monday, March 16, 2009

Net worth,income streams, cash flows

This will be my first attempt at a net worth post, so bear with me. I havent set up any kind of a standard format for this (most of my spreadsheets are on google docs) but maybe down the line I would. So here goes:

Net Worth breakdown along with explanations wherever needed (I got married in Jan 09, after a 2 year long courtship and havent merged my wife's accounts yet)

Cash (emergency fund, easy short term money access)
  • ING 1 : 10,000
  • FNBO: 3480 (Target 10k by end of 09)
  • Credit union savings: 1025.00
  • Discretionary savings (ING 2,penny pinching basically): 480
Roth 401k (5% contribution, 5% employer match) : 9208

Foreign investments (bank fixed deposits, stocks, mutual funds, I am a non-resident on H1-B visa (labour certification done in the green card application stage), so I send a chunk of money back to my native country where the interest rates are high as well as being part of the BRIC nations the stock market has more potential upside.)*
  • Fixed deposits: 2900@9% locked in for 3 years (Target 15k by end of 09)
  • Mutual funds : 4000 (at current exchange rates)
Trading accounts (These are my daytrading accounts for stocks as well as my poker bankroll, poker is my alternate income stream, currently it constitutes about 10% of my take-home 8-6 job income, in the future (5-10 years) I hope to increase this to 100%):
  • Tradeking : 1812 (Target 5k end of 09)
  • Poker (mostly online) : 2935 (Target 6k end of 09)
Travel accounts (These are setup for annual visits to my home country or buying tickets for my parents when they want to visit me, usually due to work pressure and lack of vacation time I prefer bringing my parents over):
  • HSBC : 698 (target 3k by end of 09)
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TOTAL : 36538.00 (rounded to nearest $)
LIABILITIES : 0.00
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Income streams, cash flows:

8-6 take home : 6125.00 pm
Poker (10-25 hrs/week) : 600 pm (averaged)
Expenses : 3640 (notable expenses outlined)
  • Family maintainance, India : 400
  • Family maintainance, wife (student, my wife is pursuing her PhD in finance, expected 2011, and lives 260 miles from me, she is 70% funded by her school): 600
  • Rent : 1000
  • Gas : 300-400
  • Starbucks, cigarettes (personal indulgence wont be cut unless I get laid off) : 300
I started looking into savings etc only from Sept 08, having joined the workforce in Aug 06 (and going through the usual binge-spending routine). But atleast I've made a start. Bon Voyage Senor

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