ROAD TO $4 MILLION - August 2020 - Progress Engine Monthly Check

What’s up everybody, I’m Ethan Li, also known as Watcher Syndicate.


This is the second monthly check on the Progress Engine. I will cover each part of my portfolio; assets, equity, debt, and all, to see how much I’ve moved on the road to $4M.


As a benchmark, from the 1st of July 2020; my total assets and equity totaled $8,648.96. The total debt was $617. That brings our combined net worth to be $8,031.96, or our averaged individual net worth to be $4015.98. We were 0.2007% there to $4M.


Assets and Equity.


In terms of assets and equity, the total liquid cash (which includes literal paper money, and cash saved in our checking accounts) is $501.22, which is a 61.8% decrease from last month.


We own a silver 2008 Pontiac Grand Prix Sedan 4D in very good condition, which is currently worth $3,136, a 1.6% appreciation from last month.


Our brokerage account is worth $1,398.98, or a 229% increase from last month. We were also paid a total of $1.63 via dividends over July.


Our cryptocurrency wallet is worth $115.96, a 40.7% increase from last month.


We also hold a very meager position in physical metals; mostly from a purchasing decision we made a few years ago and few lucky occurrences at a bank, where we found more than a dozen silver quarters and dimes. Collectively, it is worth $181.54, a 12.5% increase from last month.


My stockpile of collectibles, consisting of Magic: the Gathering sealed product and reserved list cards, has a value of $3,837.66, a 7.1% increase from last month.


Debt


The amount of debt we have is reasonably justified. We make sure not to buy unnecessary things that we cannot pay for. With that being said, we try to put every charge onto a credit card that we pay off every month, because of the cashback and points. This essentially gives us 1-5% off every purchase we make.


Our current credit card loadout is 1 Paypal Credit Account, 1 Discover It Cash Back CC, Credit One AmEx, and an OpenSky Secured CC.
Paypal Credit has a great promotional rate of 0% interest for 6 months on purchases over $100. The debt on Paypal Credit is $265 out of $900


The debt on the Discover It Cash Back card is $12.38 out of $500


The debt on the Credit One American Express card is $22.24 out of $300


The debt on the OpenSky Secured card is $0 out of $205


The total amount of debt is $400, which is a 35.2% decrease from last month. 100% of our debt is currently credit card debt.


The total amount of credit we can use is $1905. That means, our credit utilization is 21%.




Conclusions


Taking all of that into account, this month’s total assets and equity total up to be $9,178.33, which is a 6.2% increase from last month. This month’s total debt is $400, a 35.2% decrease from last month. That means, our combined net worth is $8,778.71, or individually, $4,389.36; a 9.3% increase from last month. We are now 0.219468% there to $4M.


And with that being said, that’s everything for today's video, I hope you enjoyed it. Feel free to leave a comment with your thoughts and don’t forget to hit subscribe and the bell icon to be notified when a new video is posted. Feel free to follow me on Instagram @wf.ethan.li, where I post art every Tuesdays and Thursdays.


This is Ethan, over and out.