Live Off Dividends

Passive Income and Personal Finance

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Net Worth Update: July 2017 +$1,581

This was a pretty average month for my net worth. Any month that it increases is a good month to me. Obviously, some months are better than others but you definitely won’t hear me complaining with any positive month. Interestingly, I found my net worth from July 2016 and it was $59,566. So, my net worth has almost doubled in one year. Pretty cool, I’d love to see my net worth double by this time next year too!

For those wondering, I use  Personal Capital to help track my net worth and I highly recommend giving it a shot (it’s completely free). You can link all your accounts and it does all the work for you. It also gives you access to a bunch of really cool tools, like the investment checkup tool.

Chart of assets listing personal, investments accounts and cash totaling $177,748

Personal

My home value stayed the same at $100,000.

My truck value actually increased from $6,394 to $6,762. +368

The only reason I can come up with for this increase is because it is getting closer to the winter months and people will be looking for four wheel drive vehicles.

Total: +$368

Investment Accounts

Robinhood account increased from $39,431 to $40,429. +$998

Roth IRA increased from $14,162 to $14,428. +$266

457b increased from $5,526 to $6,006. +$480

NYS retirement account increased from $3,422 to $3,507. +$85

Total: +$1,829

Cash

My cash decreased from $7,388 to $6,616.

Total: -$772

Total

Total assets increased from $176,323 to $177,748. +$1,425

Chart of liabilities including home mortgage totaling $59,296

Mortgage

My mortgage decreased from $59,452 to $59,296.

Total: -$156

Chart of net worth totaling $118,452

My net worth heading into July is $118,452 up from $116,871 last month! This was a $1,581 increase or a 1.35% increase. This was a pretty average month for me. Nothing too spectacular but it’s still moving in the right direction.

Brightpeak Financial has a pretty cool (and free) 7 day $500 savings challenge, where they will send you tips and advice, if you’re interested in that click here!

Age

I think it’s important to track my age and where I fall percentage wise in my age group as well. I just turned 24 years old and my net worth puts me in the 96th percentile. Also, here’s the link that I use to calculate that.

This post may contain affiliate links.

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Rental Property Update: July 2017

We still haven’t closed on our three  rental properties, it’s taking forever. Our estimated closing date was July 28th and we’re still waiting on the seller and his attorney. It’s been complicated, but I’m hopeful we close sometime in August. For now I still just have my one rental property that I’m owner occupying.

Monthly owner occupied rental property information

As of July, it now costs me an average of $269.44 to own this rental property. This is the third month in a row that I’ve paid an extra  $60.78 on the principal. It could cost me a little less, on average, if I didn’t pay more. If I continue to make the same extra payment for the life of the mortgage it will cut my 30 year time frame down to 21 years. Not bad, but I would like to pay it off sooner than that. I hate paying interest on anything, but my interest rate is relatively low at 4.125% so it’s not that bad. I made some changes to my insurance policies in July so my homeowner’s insurance will go down slightly.

In July, it cost me $338.76 to owner occupy this house, quite a bit higher than my monthly average, but quite a bit lower than June. Ideally, the the average would be right around $300. Again, I spent some extra money on the property this month.

I needed a new lock for a door because this door had a skeleton key which broke, you can see where one of the teeth are missing in the picture below. The door was stuck locked but, I managed to pick the lock and get the door open.Broken skeleton key and old door it belongs to.

This is the new lock that I bought for the door. It’s effective, good looking and it only cost me about $8 at Home Depot.

Stainless steel chain lock from Home Depot

I also bought two gallons of paint and painted the foundation of the house, this is where the rest of the miscellaneous expenses for the month came from. I would like to paint the entire house and garage this year. It will be a large expense but it could definitely use it. Luckily, most of the things that I do to the house are tax write-offs and I’m relatively picky about the things that I do.

Owner occupied monthly net income chart

The biggest downfall to this rental property is that the electric isn’t split. I think that’s part of the reason my expenses have been on an upward trend this year, aside from the additional principal payments. There’s three window air conditioner units and I’ve seen the increased electric cost while these have been running. We have one in our apartment and my tenant has two upstairs. I could probably forbid window air conditioners in the unit, but that would just be cruel.

Alternatively, at some point I would like to look into getting the electric split. I don’t mind paying the electric for now since I’m living here, but in the future when I don’t, I’m sure I won’t be too fond of it. I think this could easily save me $60-80/month, while I live here, but I’m not sure what it would cost to get it done. Unfortunately, that isn’t something that I can do on my own.

I’m excited to close on our three new rental properties and I feel pretty confident that we’ll close in August. For those who haven’t read up to this point (here’s June’s Update), my father and I are partnering on three multi family homes for a total of 7 units. Two, two family homes and one three family house. The information about these properties will be in this post as well, after we close.

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Dividend Portfolio Update: July 2017

Another month with huge year over year growth for my dividend portfolio. This year has seen huge growth for my portfolio. I hope to continue to see this kind of growth going forward.

I use Robinhood for my dividend portfolio. They offer free trades and no commissions. If you want to sign up, use my link and we’ll both receive a free stock valued up to $150.

Dividend Increases: 1 Increase

PPG Industries increased their dividend from $0.40 to $0.45. This was a 12.5% increase and will earn me an extra $2.00 annually or $0.16 monthly.

 

The companies that paid me dividends in July.

These are all the companies that paid me dividends in July amounting to $71.57.

Year over year dividend growth chart

My dividends year over year in July increased from $35.65 to $71.57 This was a 100.75% increase year over year. Another massive year over year gain for my dividend portfolio! I would love to continue to see growth like this finishing out 2017.

Dividends received from my Roth IRA

I received $5.62 from dividends in my Roth IRA this month. I only receive large amounts of dividends at the end of the quarter in my Roth so this was a typical $5+/- month.

Total yearly dividends year over year growth

I received a total of $920.90 from dividends in 2016. I’m currently at $647.50  this year which is 70.30% of 2016’s total. Not bad for being a little over halfway through the year.

My entire dividend portfolio

My total annual dividends increased from $1,293.19 to $1,329.95, while my average monthly dividends increased from $107.76 to $110.83. This was a 2.85% increase month to month!

Purchases:

July 14: Purchased 3 shares of IBM at $154.16 for a total of $462.48.

July 14: Purchased 1 share of ADM at $41.56 for a total of $41.56.

July 28: Purchased 4 shares of UPS at $108.44 for a total of $433.72.

July 28: Purchased 1 share of VZ at $48.24 for a total of $48.24.

Sells:

No sells this month.

Contributions:

Total: $880.00

Rental Property: $650

I received $650 for rent in July.

We STILL haven’t closed on the three properties. I feel like it’s taking forever, but I guess there’s no rush. The sellers attorney has health problems and has been in the hospital so it’s slowing the process down.

I’m still behind 11 contributions totaling $4,840 from when I was injured at the start of this year. I have money saved up again that I could use to start catching up but I’m not sure exactly how much we’re going to need to close on the houses so I’m holding off for now. It’s been a pretty wild year for my financial situation between buying and moving into my own house and now with these three properties. After we close on these houses I expect things to start to normalize again and I’ll be able to start playing catch up. I still haven’t contributed anything to my Roth IRA for the year yet so I’m trying to figure out where that $5,500 is going to come from as well.

Leave a comment and let me know how July went for you! I look forward to hearing from all of you every month!

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