How Am I Doing?

If you are a fan of The Suze Orman Show, this segment returned this month.  Would you have the nerve to submit all your financial information and have Dr. Suze examine it under her financial microscope?  Not me.

Spent time yesterday preparing my net worth statement. Not sure why but I failed to do this yearly analysis in 2011.  So I had to compare my May 2012 statement to my January 2010 statement.  Good news – my total worth increased by $82,542.00.  The bad news – my liquid savings dropped by $7,506.00 (basically I liquidated $6,770 in CDs from 2010 on veterinarian expenses in 2010 and 2011 on my recently departed dog).  If I include $4,926.00 emergency car fund as of 21 May 2012 (which shall be back to $5,000.00 this Friday), the drop in liquid savings doesn’t appear to be as bad (only a drop of $2,580.00).

The main reason for the increase in my net worth is my condo.  As of January 2010 I still owed $34,350.00 on the condo mortgage (which I paid off on 5 October 2010).  Also, the value of the condo jumped from my projected $150,000.00 in January 2010 (based on then existing market conditions) to $222,700.00 based on the zillow.com estimate of 18 May 2012.  On the other hand, my house was valued at $375,00.00 in January 2010 (based on then existing market conditions).  According to zillow.com as of 18 May 2012, the value has dropped to $325,800.00. 😦

In preparing my net worth statement yesterday, I excluded as assets two stocks I own (<100 shares per stock) and my retirement funds (employer based thrift savings plan and my Roth IRA).  These are not liquid savings and/or have severe penalties if I attempted to liquidate.  Thus I don’t see the point in considering them.

The best part of the net worth statement: I have two, just two liabilities – 1st trust on the house and 2nd trust on the house.  I am now working hard to pay off that 2nd trust ($47,817.00).

I would certainly get the Suze smack down if she examined my personal finances.  I am nowhere near an eight month emergency fund ($43,200.00).

How Am I Doing? Suze would give me an F.

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