We started to get into a good routine during July. Both of our jobs have been fun, challenging, and going well overall. We found a good church to join and have already begun to make some new friends. Life is good. This was the first full month of work for both of us too, since my fiance started mid-month in June. Half a month of work meant she only earned half her monthly salary last month. But for July, it was full paychecks to deposit at the end of the month!
I am excited to report another GAIN to our net worth! At the end of July 2005, our net worth increased by $4,061 to a new total of $41,961. That’s a new “increase” record for us and another month of double-digit increases, coming in at 10.7%.
Noteworthy highlights for the July 2005 update:
- After earning our full paychecks as a couple this month (and rental income from the two units of our duplex), we were able to save quite a bit. Extra money beyond our living expenses was sent to Vanguard for investing in mutual funds. Nothing fancy, just the S&P500 Index Fund. This investing combined with the strength of the stock market in July should help explain the big bump in the Taxable Brokerage Accounts line-item.
- I setup a new Roth IRA account for my fiance at Vanguard. She already has an account with Ameriprise, which was setup by her grandparents years ago. At some point I will look at transferring it over to Vanguard. But for now, I just wanted it setup so I could start investing fresh money.
- We set a goal of trying to contribute the maximum amount to our Roth IRA accounts this year, which is $4,000 per person. With her new Roth IRA setup and ready, I sent money into her account and mine to be invested in mutual funds.
- I have added a line-item for “Other Liabilities” under the Liabilities heading. For now, this represents the Tenant Security Deposit money that we are holding in our bank accounts. The money is not technically “ours”, since it must be given back to our tenants at the end of their lease — less any costs for damages or losses that we decide to keep. This money had been collected originally by the previous owners of the duplex at the time when they rented out a unit to each tenant. This money was transferred to us at closing, when we purchased the duplex.