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Net Worth Update #2 – May ’17

Here we go with the second 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. I started back in April 2017 with the first Net Worth Update #1  and will continue to track and post monthly. May was an exciting month for us as we are buying a new house and it is only 1,100 miles away. This is why I haven’t posted in the last few weeks, I have been tied up with this new house thing. I will be posting about this new adventure and be asking a lot of questions along the way. Now, let’s get to this month’s numbers.

Net worth progress:

Total – Retirement $375,960 Total – Installment $0
Total – Liquid $21,541 Total – Transacting $3,198
Total – Investments $235,921 Total – Revolving $0
Total – Physical $92,800 Total – Physical $224,900
Total Assets $726,222 Total Debts $228,098
Net Worth Apr ’17 $498,124
      Monthly Change $9,519
      Change Since Apr $9,519

Our monthly change was a gain of $9,519.63 bringing our net worth to $498,124. We have moved extremely close to the half way point to our $1,000,000 goal. Taking a quick look at the numbers most of our increase came from investments, which was a result of a good month for our stocks and dividends.  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.

Last month established the baseline for our monthly net worth tracking and this month had some major gains thanks to investments. In fact, about 70% came from investments this month. Our physical debt was paid down by $2,000 this month. Having not tracked this before, I think that this is excellent over the course of a month.

The next 2-3 months are going to be very interesting, as I mentioned we bought a house and are planning a move. There will defiantly be a hit to our assets as we put 20% down on the new house and an increase to our liabilities. Both of these will be short term until we sell our old house.

How are you doing tracking you net worth or other financial goals?

6 Comments

  1. I haven’t run the full numbers, but am doing very well compared to my income. I have been making a post every quarter.

    At your current rate of $10k per month, I think you would hit that $1 million in about 3.5 years as your investments do more and more of the work.

    That’s pretty amazing to think about.

  2. Almost $10k in a month! Holy cow that is amazing to me. At this rate, you will be a millionaire in about 4 years.

    That’s pretty insane to think about.

    Great work. Hope the house appreciates nicely. 😀

    • It is pretty amazing to think about it that way. I had a aggressive goal for this year. I am still hoping to reach that goal, even with the purchase of the new house.

  3. It looks like you are killing it. Especially with a 10k increase in your net worth this month. We saw a 1.8% increase in our net worth which is slighly below my target of 2%. Looks like we need to tighten up the belt a little bit 🙂

    • It was a strong month for investments and since I had never tracked net worth or monthly changes I have nothing to compare it against. I can say that I am extremely happy with the monthly change.
      Great work on the 1.8% increase. Have you pinned down why you were not able to hit your goal of 2%?

  4. New house, how exciting! Good luck with the move!

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