I may eventually post my financial holdings in a spreadsheet format but this looks like it will be a time-consuming task, plus I haven't figured out yet how to include a spreadsheet :P. But to give an idea of my current starting point, here is a rough breakdown of my current holdings:
$250,000 6-month laddered CDs yielding ~5%
$170,000 401K (never had employer match at any of my employers)
$900,000 small, simple house in Bay Area
$300,000 33% of my childhood home
$470,000 California Muni bonds, short-term laddered
$4,000,000 Stocks and mutual funds
$800,000 Cash/Money Market
$50,000 investment in out-of-state commercial real estate development
I have no substantial liabilities, but a fairly high level of monthly expenses.
Over the next 24 months, I hope to find a good home for the cash/money market, and sell off some of the stock holdings to redeploy into other areas. I'm not that comfortable with my stock market exposure given the state of our national deficit, and overall debt levels.
A personal journal documenting the path from financial freedom to true wealth. This blog explores what to do AFTER making the first million.
About Me
- Rags 2 Riches
- I started this blog on May 1, 2006. My goal in this blog is to document my upcoming financial adventures, and brainstorm/discuss ideas for generating cash flow on low-risk investments. I also hope that others can enjoy the mistakes I will inevitably make, and I may also discuss mistakes I've made in the past. I think this blog would be of more interest for those thinking about taking "the next step". Despite a net worth of about $6.5 million dollars, I find it difficult to find high-yielding (> 5%), low risk investments in today's environment. So I'm starting to look beyond the bond/stock markets into businesses, franchises, and rental properties. Disclaimer: I am only a beginner when it comes to finances/investing/taxes. So please read this blog with a jaundiced eye, and make sure you do your own due diligence on financial matters. This blog is meant for interest only, please seek a professional for financial advice.
Subscribe Now: Feed Icon
Blog Archive
-
▼
2006
(29)
-
▼
May
(14)
- Economics of buying a rental property
- More concrete goal
- Tax lien certificates
- The dual-edged sword to "Diversify, Diversify, Div...
- Real Estate Bubble Links
- Consequences of switching mutual funds
- Initial money-generating ideas
- Money is boring
- Mutual Fund selection
- 401k and ESPP Notes
- Starting Line
- Rich Dad, Poor Dad
- The "Simple" Life
- CD Yields are going up
-
▼
May
(14)
2 comments:
Wow.
You've done a terrific job building up your net worth. Maybe you'll share your secrets with us someday. ;-)
No big secret there. I made my money from controlling debt since childhood, and from the stock market. I joined my company as a start-up and worked 12+ hour days for many years before we took the company public.
I took the advice of multiple financial advisors to "diversify, diversify, diversify". With the benefit of hindsight, this was one of the worst moves I could have ever made. Few people can build true wealth from diversification. This is the main reason why I have chosen over the years to take my finances into my own hands, and to educate myself financially.
Post a Comment