I can’t believe this is the second to last Net Worth update of the year. November absolutely flew by, it seems just like yesterday was Halloween. This is the first month since late spring that we have had 1 mortgage and set of utility bills. Based on the overall numbers you will see the positive impact of this. We had anticipated seeing a decrease of $500 a month moving and hopefully within the next month, we can verify this. As of right now, we think it might be a bit more than this. Mainly due to the taxes, water, electricity, and heating all costing less on a monthly basis.
November proved positive on many fronts, including my job. 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. This month provided another jump in our net worth, which was driven by positive gains in investments and our retirement accounts. Here is a look at this month’s numbers.
|Total – Retirement||$457,862||Total – Installment||$0|
|Total – Liquid||$113,060||Total – Transacting||$5,119|
|Total – Investments||$208,801||Total – Revolving||$0|
|Total – Physical||$89,800||Total – Physical||$269,622|
|Total Assets||$869,524||Total Debts||$274,739|
|Net Worth Nov ’17||$594,784|
|Change Since Apr||$106,180|
Our monthly change was an increase of $16,564 bringing our net worth up to $594,784. Our year end goal of $600,000 is within reach, with only a month left to the year. We are almost at 60% of our FI $1,000,000 goal. 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 = Assets – Liabilities. In short, everything you own minus everything you owe.
Retirement – 401K, 401B, and a Roth IRA account
Liquid – Checking/Savings Accounts
Investment – Stocks
Physical – House and car
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.
The month of November saw the majority of the gains come from our retirement and investment accounts. Our retirement account saw ~ $10,000 gain this month, as we had seen the previous 5 months. If this can keep up, that account could grow by $120,000 next year. WOW! Just thinking about that is a bit mind boggling. If these kind of gains continue we should really be able to maintain our goals, especially since we are down to 1 income.
I am thinking about breaking down some of the numbers in more detail starting in the new year. Thoughts? Would you like to see more detail in the numbers?