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Net Worth Update #7 – Oct ’17

October:

Once again, I am late with this month’s Net Worth Update. It has been another busy month, but a lot of good news came in October. As I mentioned last month we had accepted an offer on the house. I have to say without to much hassle the house has closed and we are back to 1 mortgage. This is reflected in this month’s numbers. I will be writing a post about the entire process, costs, and fees this month.

October was definitely a positive month on all fronts. I had mentioned in the post about putting it all together that I had never tracked or officially calculated our net worth. I started back in April 2017 with the first Net Worth Update #1  and will continue to track and post monthly. October provided a huge jump in our net worth, which was driven by positive gains in investments and the sale of our house. Not only are we back down to one mortgage, but also one set of utilities and one set of insurances. Now, let’s get to this month’s numbers.

Net worth progress:

Total – Retirement $446,510 Total – Installment $0
Total – Liquid $113,211 Total – Transacting $3,989
Total – Investments $204,106 Total – Revolving $0
Total – Physical $88,600 Total – Physical $270,217
Total Assets $852,427 Total Debts $274,206
Net Worth Oct ’17 $578,220
      Monthly Change $193,421
      Change Since Apr $89,615

The Breakdown:

Our monthly change was an increase of $193,421 bringing our net worth up to $578,220. Absolutely awesome seeing those numbers. The majority of this gain came from the house sale, which gained cash and eliminated a mortgage. This month’s gain put us over the half way point to our $1,000,000 goal and close to our year end goal of $600,000. Roughly $22,000 to go to reach that goal, this will be tough, but we are still marching toward it. I will go into more details about this month’s number below, but first 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. It is the closest/most realistic value I can get on a monthly basis.

Summary:

The month of October saw the majority of the gains come from the house sale.  This also marks the first time in 5 months that we did not see a $10,000 increase in our retirement accounts. We saw an increase of $7,000 and this is a direct reflection of having maxed out the retirement account last month. Extremely happy with this amount, but look forward to when it is a consistent 5 figures on a monthly basis. If these kind of gains continue we should really be able to maintain our goals, especially since we are down to 1 income.

So much happened in the month of October. We finally sold the house, continued to save and I have official become a resident of another state. Oh, and did I mention, I was able to keep my job and work remote 50% of the time.  I didn’t, but I will be posting about it. Pretty excited about the opportunity that I presented to work and they agreed to it. Life is looking pretty decent right now. Until next month…..

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