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Net Worth Update #4 – July ’17

Here we are again, another month, another Net worth update. July was a really good month for us. We saw some nice increases pretty much across the board, but did have some additional expense with the new house. Our old house is on the market and hopefully it won’t take long for a buyer.

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. As I mentioned, July saw a good jump net worth based on a strong month with investments, a bonus at work, and selling a couple of big ticket items for the move. I will go into the numbers in more detail below. Now, let’s get to this month’s numbers.

Net worth progress:

Total – Retirement $402,581 Total – Installment $0
Total – Liquid $31,461 Total – Transacting $4,249
Total – Investments $207,560 Total – Revolving $0
Total – Physical $177,050 Total – Physical $465,696
Total Assets $818,652 Total Debts $469,945
Net Worth Apr ’17 $348,707
      Monthly Change $42,069
Change Since Apr $139,897

 

Our monthly change was an increase of $42,069 bringing our net worth to $348,707. This is a huge gain for the month that was driven by the standard month gains we have been seeing, which accounts for roughly $10,000 of this month’s gains. The remaining gains came from us selling our camper, a camper shelter, a handful of other items on Craigslist and lastly, I received a bonus in the month of July.  August should see similar gains to previous months, but from September on we will be down to 1 salary as Mrs. FI will not be working and her summer paychecks run until the end of August. We are still marching towards our yearly goal of $600,000. 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.

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 homes as it is the closest/most realistic value I can get on a monthly basis.

This month’s gains came from a couple of different sources.  The first, our retirement accounts grew by $14,979 in the month of July, this follows a ~$11,000 gain in the month of June. Based on the last 3 months, the retirement accounts are really start to speed up and should begin growing quickly. In addition, our liquid assets increased by $18,596 this month. These gains are mainly due to the selling of our camper and other items on Craigslist. Fantastic month!

Hopefully we get an offer on our old house in August and be back to a 1 mortgage family.

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

 

4 Comments

  1. Now that is some progress. That is one heck of a swing in July. I love that your retirement account was a huge driver of your success. Keep it up and keep on seeing that number turn green each month.

    Bert

    • Thanks Bert. I made some changes to the investments within the retirement account back in January and haven’t looked back. Hopefully we will continue to see great gains.

  2. Wow you had a monster month and based on what you said you should have another monster month for August. Looks like if the market holds up you should be marching towards your goal by the end of the year 🙂 Keep up the awesome work.

    • Thanks MSM. It was a fantastic month and August is looking strong so far. Just need to sell the old house and this years goal is within reach.

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