January 2016 Net Worth Update (+$179.62)

Jan 2016 net worth

Overall

In January, our net worth increased $179.62 to a total of $331,293.56 (see spreadsheet screenshot). My wife and her team were laid off on December 31st but she received a severance and quarterly bonus in January.  My wife is such a superstar that she already landed a new job that starts in February making the same salary ($130K), a similar target bonus ($35K), two months off per year, car/laptop/phone, and her new company contributes 10% of her annual salary into her 401(k).  Such a blessing!

Retirement Accounts

Our retirement accounts are comprised of my wife’s 401(k), my 401(k), our Roth IRAs and our Traditional IRAs.  We contribute 3% to my wife’s 401(k) and 15% to my 401(k).  My wife’s company matches up to 3% of her 401(K) contribution and deposits the sum once a year on January 1st (it is 100% vested when deposited).  My company matches up to $1,000 per year (vested over five years).  This month, we contributed $397.35 to my wife’s 401(k) and $900 to my 401(k).  My wife also received her once a year 3% company match totaling $3,900 to her 401(k).  We saw the total balance of our retirement accounts decrease -$4,549.96 last month to a total of $154,792.12.

Brokerage Account

Currently, our brokerage account consists of one stock (my wife’s old company) that went down $79.23 this month.  Our balance is $642.54 on a $2,000.00 in initial investment.  Even though my wife’s team was laid off, we’re going to hold onto the stock.

Cash & Savings Accounts

Cash and savings accounts consists of a small sum of cash at home and our online savings account balance. It does not include our checking account balance that we use to pay our bills each month.  Thanks to my wife’s severance and bonus, this month our cash and savings accounts increased $4,808.46, bringing the total to $16,324.92.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $200 to our son’s 529 Plan and it decreased $654.37 from last month to a total balance of $12,669.00.  We contributed $200 to our daughter’s 529 Plan and it decreased $191.82 over last month to a total balance of $5,570.25.

Home

We use the $489K purchase price that we paid in January 2012 for our home value.  Current comps in the area are ~$650K.  The current balance on our mortgage loan is $356,930.90.  We paid an extra $0 towards principal this month.

Cars

“Car 1” is a 2011 SUV with ~70K miles and “Car 2” is a 2012 SUV with ~75Kmiles.  When calculating our net worth, we depreciate the vehicles 1% per month.  “Car 1” has a current loan balance of $21,245.41 and Car 2 has a current loan balance of $26,637.61.  I receive $230.13/month as a fixed car reimbursement and $0.22 per mile as a variable reimbursement (to help cover gas, wear and tear, etc.).

Credit Card Balance

We do not currently have a credit card balance that is not paid in full each month.

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