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September 2017: Net Worth Update #6

Talk about a lag of posts in September, apologizes, but it has been a hectic month. In fact, so hectic that this Net Worth update is over a week late. The biggest news from September is we accepted an offer on our house (yahoo). The sale is planned to complete towards the end of October. What’s that mean and what have I been doing? Glad you asked. The majority of my time has been spent fixing a handful of small issues that came from the inspection. The rest has been scheduling and dealing with other required inspections (fire, termite, etc). Hopefully nothing happens over the next few weeks and we can be back down to one mortgage, Yes (fist pump)!!

September proved to be another great month. 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. September saw another great increase in our net worth, which was driven by a great month for investments. I will go into the numbers in more detail below.  I have also changed over some insurances for the home, cars, and life. Based on timing of the changeover there were a couple of weeks were we were actually paying for both sets of insurances, not a huge dollar amount, but defiantly something to keep in mind in the future. Now, let’s get to this month’s numbers.

Net worth progress:

Total – Retirement $439,003 Total – Installment $0
Total – Liquid $25,435 Total – Transacting $4,989
Total – Investments $206,839 Total – Revolving $0
Total – Physical $180,300 Total – Physical $461,790
Total Assets $851,578 Total Debts $466,779
Net Worth Sept ’17 $384,798
Monthly Change $22,617
Change Since Apr $103,806

The Breakdown:

Our monthly change was an increase of $22,617 bringing our net worth up to $384,798. Once again, extremely happy with the jump this month as I didn’t think it would be this much with the 2 houses. I am still tracking to cross over the half way point to our $1,000,000 goal once our house sells. 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 home as it is the closest/most realistic value I can get on a monthly basis.

Summary:

The month of September saw the majority of the gains come from our retirement accounts and minimal gains coming from increases in our houses and cars from an asset stand point. Our savings also saw an increase because I have sold the last remaining items at the old house on craigslist. This also marks the fourth straight month of $10,000 plus increases in our retirement accounts and although nothing is guaranteed I think this will be the norm going forward. Fantastic!  If these kind of gains continue we should really be able to maintain our goals, especially since we are down to 1 income. This is especially true if all goes as planned in October with the sale of our house, we should see a large increase in cash/investment based on the sale. Fingers are crossed.

I also reached the max limit on my 401K in the month of September and need to figure out what do with the extra cash flow. Any suggestions? How did you doing tracking you net worth or other financial goals in September?

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