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2016 summary of finances

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    #16
    Originally posted by Singuy View Post

    Expenses:
    -110k on a pool/summer kitchen

    House value: beginning of 2016: ~620k
    End of 2016 ~850k (mostly it's the pool)
    I'd highly question that you get even half the value of the pool back. How do you get 2x?

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      #17
      Originally posted by MooseBucks View Post
      I'd highly question that you get even half the value of the pool back. How do you get 2x?
      That is true with pools. Its always cheaper to buy a house that already has one than it is to have someone install a new one for you.

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        #18
        Originally posted by LivingAlmostLarge View Post
        Feh I'm impressed by the investments of $2M.
        Well, investments are quite to $2M yet, but what we do have has allowed me to go part time this year. Dipping my toes into early retirement.
        seek knowledge, not answers
        personal finance

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          #19
          Originally posted by MooseBucks View Post
          I'd highly question that you get even half the value of the pool back. How do you get 2x?
          I think its in conjunction with my house being a foreclosure dragging value around me down and a house nearby on the same street just sold for 850k with the same squareft and pool.

          Yeah pool usually yield you 50% of what you paid..but when it comes to high end pools, you can claim it cost 150k or 175k to build it and they believe you(not to mention we got a quote of 150k for the same pool). So I would say my pool probably adds 75k to the property value.

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            #20
            Net Worth went up $20K from 2015. It ain't cheap selling home and buying a brand new home adding new furnitures + buying a new car paid cash.

            Savings/Retirement up $105K

            Net Worth $483K. I'm shooting for $600K in 2017.

            New Mortgage balance $459,900
            Home Value $442,456.
            Underwater -$17,338K

            The plan for 2017 is to bring that mortgage balance close to $430-435k range.


            No consumer debt.
            Last edited by tripods68; 12-29-2016, 10:46 PM.
            Got debt?
            www.mo-moneyman.com

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              #21
              Originally posted by tripods68 View Post
              New Mortgage balance $459,900
              Home Value $442,456.
              Underwater -$17,338K
              They loaned you 104% of the appraised value (which obviously implies $0 DP)?

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                #22
                Originally posted by Nutria View Post
                They loaned you 104% of the appraised value (which obviously implies $0 DP)?

                VA Loan 100% in a new community in NorCal.
                We figured we will be here in our new house for there a long time. Our plan is to pay it off by the time I reach retirement age 59.5 to pay off in lump sum.
                Last edited by tripods68; 12-30-2016, 08:51 AM.
                Got debt?
                www.mo-moneyman.com

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                  #23
                  Originally posted by tripods68 View Post
                  VA Loan 100% in a new community in NorCal.
                  But still... Personal Finance rule #1 of house buying is to have a minimum 20% DP, so that you don't need mortgage insurance.

                  Does that somehow not apply to VA loans?

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                    #24
                    Originally posted by Nutria View Post
                    But still... Personal Finance rule #1 of house buying is to have a minimum 20% DP, so that you don't need mortgage insurance.

                    Does that somehow not apply to VA loans?
                    No PMI on VA loans.
                    Got debt?
                    www.mo-moneyman.com

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                      #25
                      Are you in an area with an exception to the $424,100 max value for a VA loan?

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                        #26
                        Originally posted by tomhole View Post
                        Are you in an area with an exception to the $424,100 max value for a VA loan?
                        Being a HCOLA the max VA loan they gave us was $475K which surprised us. To get this house we put $ 5k initially, after closing and lender's credit of 10K, we received $4083 back. Our net cost $917.00 mainly to pay towards PITI. Pretty sweet deal!

                        We originally going to use CalVET their interest wasn't as good as the VA @ 3.25.
                        Last edited by tripods68; 12-30-2016, 12:49 PM.
                        Got debt?
                        www.mo-moneyman.com

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                          #27
                          Now that the business year is officially over:

                          Our financial assets increased by 7.69%.
                          This is only counting cash, stocks, bonds, mutual funds, etc. It doesn't include home value, cars, or any other tangible items.

                          On the debt side, our mortgage balance is down $7,723.
                          We paid off our van. Payments in 2016 were $4,956.
                          We took out a new student loan. Current balance is $4,371.
                          So our total debt dropped by $8,308.

                          That means our net worth increased by 8.75%.
                          Steve

                          * Despite the high cost of living, it remains very popular.
                          * Why should I pay for my daughter's education when she already knows everything?
                          * There are no shortcuts to anywhere worth going.

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                            #28
                            Financial assets: +11.3%
                            Mortgage: -34.5% (That's a good thing... )
                            Paid off van.
                            No CC debt.

                            By EOY 2017, mortgage will be paid off, but cash will also be down, because of home repairs.

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                              #29
                              I maintain data on our retirement accounts but I would have to log into several account websites to try to put together a Net Worth number for 12/31/15. I personally don't like to include our home in that calculation anyway, so I am just going to go with the 2016 impact on our retirement accounts.

                              With data through my last workday of the year, our retirement accounts are up approximately $110k. The market had a bit of a push since but ended with some pullback, so I suspect the $110k is still a good ballpark figure.

                              Comment


                                #30
                                Net worth increased 10.3%
                                Financial assets increased 11.1%
                                Non-financial assets (house & car) were flat . . . Just like in tomhole's case, vehicle depreciation and house appreciation essentially offset each other.

                                Heading in to the new year, we're keeping our heads up and our eyes forward.
                                Last edited by scfr; 12-30-2016, 08:02 PM.

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