October 2022 Income Statement

In October, we had a standard income month and a reasonable expense month. 

Our total income in October was $10,738.59.  In addition to my wife’s regular paychecks, she received $161.99 in company reimbursements for internet.  We also earned $14.10 in interest income from our savings accounts.

This month, our expenses totaled $10,324.21. Large expenses included $810.23 in doctor visits/prescriptions, $350.02 in vacation expenses, and $525 for home repair (irrigation).

Next month is the first month is awhile where we don’t have a large annual bill of some kind due.

October 2022 Net Worth Update (+31,068.08)

Overall

October was a good month for our net worth. Our net worth increased $31,068.08 from last month to a total of $1,274,875.91 (see spreadsheet screenshot).

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 6% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  This month, she contributed $950.02 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts increased $22,366.51 from last month to a total of $454,107.71.

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $137,590.56, up $6,176.55 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings decreased $967.14 this month to a total of $7,878.45.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it increased $2,522.10 from last month to a total balance of $46,499.90.  We contributed $0 to our daughter’s 529 Plan and it increased $1,676.09 from last month to a total balance of $30,901.99. Our total 2022 contributions so far are $2,050 for our son and $2,050 for our daughter.

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$878K and falling fast.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~90K miles) that we own and it is paid off.  In addition, we own a 2013 ski boat that is paid off.

Credit Card Balance

All of our credit card debt is paid in full each month.

September 2022 Income Statement

In September, we had a great income month and but also a very high expense month. 

Our total income in September was $14,828.24 In addition to my wife’s regular paychecks, she received $66.99 in company reimbursements for internet.  We also earned $18.76 in interest income from our savings accounts.

This month, our expenses totaled $19,037.10. Large expenses included $6,427 for window shutters, $1,123 in boat repairs, in vacation expenses, and $372.99 for clothing.

Next month, we have a $707 boat insurance bill due.

September 2022 Net Worth Update (-88,121,36)

Overall

September was a rough month for our net worth. Our net worth decreased $88,121.36 from last month to a total of $1,243,807.82 (see spreadsheet screenshot).

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 6% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  This month, she contributed $950.02 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts decreased $72,211.18 from last month to a total of $431,741.20  

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $131,414.01, down $809.03 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings decreased $3,747.39 this month to a total of $8,845.59.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $550 to our son’s 529 Plan and it decreased $6,481.12from last month to a total balance of $43,977.80.  We contributed $500 to our daughter’s 529 Plan and it decreased $4,159.46 from last month to a total balance of $29,225.90. Our total 2022 contributions so far are $2,050 for our son and $2,050 for our daughter.

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$884K and falling fast.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~90K miles) that we own and it is paid off.  In addition, we own a 2013 ski boat that is paid off.

Credit Card Balance

All of our credit card debt is paid in full each month.

August 2022 Income Statement

In August, we had a good income month and a high expense month. 

Our total income in August was $11,368.44. In addition to my wife’s regular paychecks, she received $186.44 in company reimbursements for internet.  We also earned $13.60 in interest income from our savings accounts.

This month, our expenses totaled $15,530.92…damn. Large expenses included $3,172.85 in vacation expenses, $802.64 in boat property tax, and $394.81 for clothing.

Next month we have a couple of large car expenses (insurance and registration) but there is a small chance my wife may receive a quarterly bonus from her old company.

August 2022 Net Worth Update (+$4,875.99)

Overall

August was a neutral month for our net worth. Our net worth increased $4,875.99 from last month to a total of $1,331,929.18 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 6% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  This month, she contributed $881.30 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts increased $16,281.30 from last month to a total of $503,952.38  

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $132,223.04, down $18,851.44 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings increased $1,701.92 this month to a total of $12,592.98.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $1,500 to our son’s 529 Plan and it increased $3,592.96 from last month to a total balance of $50,458.92.  We contributed $1,500 to our daughter’s 529 Plan and it increased $2,871.61 from last month to a total balance of $33,385.36. Our total 2022 contributions so far are $1,500 for our son and $1,550 for our daughter.

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$897K and falling fast.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~90K miles) that we own and it is paid off.  In addition, we own a 2013 ski boat that is paid off.

Credit Card Balance

All of our credit card debt is paid in full each month.

July 2022 Income Statement

In July, we had an an incredible income month and a pretty average expense month. 

Our total net income in July was $31,675.42. My wife started a new job making $190K/year (also a $12K sign on bonus, $40K in annual bonuses and $45K in company stock).  Her old company gave her a final paycheck of $4,204.03 net and cashed out her vacation for $12,302.89 net.  She started her new job part way through July and received $4,724 net in regular paychecks and received a sign on bonus of $12,100 gross (7,734.58 net).  We earned $44.40 in interest income from our savings accounts and stablecoins.

This month, our expenses totaled $9,893.36. Large expenses include $15,981.25 to pay off Wells Fargo credit card, $608.90 for clothing, $566.42 in vacation costs, and $513.91 for medical/prescriptions.

Next month my wife will have her first full month of paychecks at the new company.

July 2022 Net Worth Update (+$80,802.70)

Overall

July was a great month for our net worth. Our net worth increased $80,802.70 from last month to a total of $1,327,053.19 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 6% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  This month, she contributed $881.30 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts increased $35,053.76 from last month to a total of $487,671.08.  

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $151,074.48, up $23,655.29 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings increased $1,179.61 this month to a total of $10,891.06.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it increased $3,428.31 from last month to a total balance of $46,865.96.  We contributed $0 to our daughter’s 529 Plan and it increased $2,232.12 from last month to a total balance of $30,513.75. Our total 2022 contributions so far are $0 for our son and $50 for our daughter.

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$921K.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~88K miles) that we own and it is paid off.  In addition, we own a 2013 ski boat that is paid off.

Credit Card Balance

We started July with a $15,981.25 balance on a 0% credit card and we were able to pay it off before the end of the month.

June 2022 Income Statement

In June, we had an average income month and very low expenses. 

Our total income in June was $8,539.70.  In addition to my wife’s regular paychecks, she received $212.07 company reimbursement for internet and toll roads.  We earned $37.62 in interest income from our savings accounts and stablecoins.

This month, our expenses totaled $5,538.86. This is pretty misleading because we received a $6,150 refund for a cancelled vacation. We have begun to book new vacation plans but only spent a few hundred on it so far.  Large expenses included $2,260.15 for home owners insurance, $827.24 for medical/prescriptions, and $944.79 for clothing.

Next month my wife begins a new job making $190K, a $12K sign on bonus, $40K in annual bonuses and $45K in company stock.  So proud of her!

June 2022 Net Worth Update (-$135,326.74)

Overall
June was another down month for our net worth as markets continue to fall. Our net worth decreased $135,326.74 from last month to a total of $1,246,250.49 (see spreadsheet screenshot). 

Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 6% to my wife’s 401(k).  My wife’s company matches up to 6% of her 401(K) contribution and chips in an additional 3% on top of the match at the end of the year (vests over 5 years).  This month, she contributed $812.58to her 401(k).  Since I am unemployed, I did not contribute anything to my retirement accounts.  The total balance of our retirement accounts decreased $65,295.83 from last month to a total of $452,617.32.  

Brokerage Account
Currently, our brokerage account consists of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $191,184.38, down $61,006.41 from last month.

Cash & Savings Account
Cash and savings accounts consists of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings increased $928.84 this month to a total of $9,711.45.

College Savings Accounts
Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it decreased $3,770.40 from last month to a total balance of $43,437.65.  We contributed $0 to our daughter’s 529 Plan and it decreased $2,297.95 from last month to a total balance of $28,281.63. Our total 2022 contributions so far are $0 for our son and $50 for our daughter.

Home                                                      
For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$930K.  We paid off our home in September 2021.

Vehicles
My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~85K miles) that we own that is paid off.  In addition, we own a 2013 ski boat that is paid off.

New Vehicle Fund
I combined our new vehicle fund with our taxable brokerage accounts. 

Credit Card Balance
Normally, all of our credit card debt is paid in full each month, however, we used a 0% credit card to pay for just over $23,590 of our income taxes.  This allowed us to keep some cash in the bank for emergencies. The card is 0% for 15 months and the current balance is $15,981.25.
 

Our path to financial independence and retiring early.