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Net Worth Report #1- Baseline

This is my first net worth monthly post. I had mention in the post about putting it all together that I had never tracked or officially calculated our net worth. Well here it is Net Worth Update #1.

Net worth progress:

Total – Retirement $368,906 Total – Installment $0
Total – Liquid $24,928 Total – Transacting $3,973
Total – Investments $232,957 Total – Revolving $0
Total – Physical $92,002 Total – Physical $226,215
Total Assets $718,793 Total Debts $230,188
Net Worth Apr ’17 $488,604
      Monthly Change Start Date
      Change Since Apr $0

There we have it, a net worth of $488,604, almost half way to our goal of $1,000,000. I am excited to continue  tracking and update this going forward. A quick break down of what we are looking here. Net worth = AssetsLiabilities. In short, everything you own minus everything you owe.

Assets:

Retirement – 401K, 401B, and a Roth IRA account

Liquid – Checking/Savings Accounts

Investment – Stocks

Physical – House and car

Liabilities (Debt):

Transacting: Credit Card (paid in Full Monthly)

Physical: Mortgage and Truck Payment

Note: I am using Zillow for the estimated value of our home as it is the closest/most realistic value I can get on a monthly basis.

A couple of interesting things I found when putting this together. In the past, when I was doing a quick estimate, I would forget to include the 401B or the Roth account, it’s just that these accounts were not as big as the 401K account, so my focus would shift to that account only. Bam! Instant increase in net worth. I would also always guess at the worth of my house, I was guessing that it was higher than it actually is. Gong! Instant decrease in net worth.

Well this has established a baseline for going forward. I am happy where we currently are, but have to continue to be aggressive to hit our 2017 goal.

3 Comments

  1. Awesome job with your net worth. I figure if it’s climbing each month that you’re doing something right 🙂 Looking forward to more updates in the future!!!

  2. Shoot, your baseline is more than twice mine! Great work getting to this point.

    You have so much in investments that the snowball will only get faster and faster and the amount you earn at your job will mean less and less.

    You ever calculate how long it would take you to become FI if you stopped all retirement and investing? Just let the amount you currently have compound?

    • MDD,
      Thanks for the comment. We worked hard to create a solid foundation and I agree with the snowball on the investment side. I am hoping to see it continually grow. Interesting thought, but I have not calculated out how long it would take investments to reach FI. Maybe I will take a look this month.

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