Thank you for continuing to remain engaged with the site! I’ve been extremely busy at work due to fourth quarter year-end activities so I had to priorities my activities for a while. I hope to get back in the swing of things so you’ll see more of me in the coming weeks.
Click here to see my current net worth. Overall, an increase in net worth of $8.709 since my last update early October.
The major drivers of the increase were:
- Cash balance increase from employment income
- Debt continuing to trend downward
Unlike September, where we saw 3% gains in the market, October saw a loss in the market so my portfolio took a hit. My year-end goal seems far-fetched now and is really dependent on the market at this point, so there really isn’t anything I can do personally to reach the goal. Even if we fall a bit short, I will still be pleased with the result nonetheless.
My major goal in 2013 will be debt reduction. As you can see from my net worth, I have a lot of debt. Most of the debt is mortgage debt, so you will notice that I will be paying this down aggressively next year.
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{ 3 comments… read them below or add one }
Just curious why the new focus on paying down mortgage debt? I thought with your most recent refi your after-tax rate was so spectacularly low that you would have many other vehicles to invest in with higher returns.
Mrs. Pop @ Planting Our Pennies recently posted..PoP Balance Sheet – October 2012
Good comment, Mrs. Pop! Yes, you’re right, my primary home is refied at 3%, but one rental is at 5.25% and the other is at 4.625%. These are the mortgage debts I want to erase for 2 reasons.
1. The rate is high
2. I lose out on the deduction (as a business expense for the rental) because my income is too high
You made great progress on debt this year. A few more years at this pace and you will have most of it knocked out. Given the market volatility, that is probably the best path.