Black Swan; an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences.
Closed on the Rental Property and already paid back all but $5,000 of the HELOC down payment loan. Mortgage added to liabilities in the amount of $86,250. But the buildings is worth $140,000 so a net increase in equity of $ 48,750. Still not enough to cover the month to month loss of this Corona Virus Scare.
One positive outcome of all this hoopla is that the world of prepping is getting some attention. As a full blown prepper, I am good with that.
All told at this point a loss of $35,514 of net worth. If it had not been for the increased equity on the new real estate purchase, the monthly loss would stand at $ 84,264! ouch!
Black Swan Net Worth equals total Assets minus total Liabilities.
Total Assets: $2,530,782 + $ 54,041 from last month.
Accounts receivable, This is a floundering business deal from 2014
Boat & Cars, Depreciating assets, but sell-able if need be
Real Estate 2nd home/vacation rental & Rental Property #1
Retirement accounts; 2 people, 4 accounts total
Brokerage account; Dividend Portfolio
College Funds; Prepaid tuition and 529 accounts or 2 kids
Bonds; ‘I bonds’ bought through Treasury Direct
Cash & Metals; 4 accounts and a security deposit box
Health Savings Account, Started in 2015
Total Liabilities; $382,173 up + $89,555 from last month.
Mortgage on House; Bought in 2005 Interest 3.75%
Mortgage 2nd Home; Bought in 2012 Interest 3.5%
Mortgage on Rental Property; Bought in 2929 Interest at 4.75%
Student Loan Paid off!
HELOC; Current APR 3.49%
BLACK SWAN NET WORTH; $2,059,054.00
Tracking your own net worth is perhaps the second most important thing you can do to improve your financial picture. Budgeting your expenses to see where the money goes is probably still number one.
Budgeting is like paying attention to ball game while tracking net worth is like paying attention to the baseball season.
Months can goes up or down, you need a longer picture to evaluate your progress. You are either bringing in more money than you’re spending or you are losing money each month. Tracking Net Worth is easy, useful, and addictive.