November 2016 Net Worth Update (+$8,837.58)

net-worth-nov-2016

Overall

In November, our net worth increased $8,837.58 to a total of $500,069.24 (see spreadsheet screenshot).  Nice to have a solid month, considering we’re just on one income after I lost my job last month.  We passed the net worth milestone of $500K this month!

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 5% to my wife’s 401(k).  My wife’s company matches up to 5% of her 401(K) contribution and chips in an additional 5% on top of the match (both 100% vested when deposited).  My wife contributed $500.00 to her 401(k) and her company deposited another $1,000.00 into her 401(k) for her 5% match and 5% extra “chip in”.   I rolled my 401(k) over to my traditional IRA at Vanguard. The total balance of our retirement accounts increased $7,081.33 from last month to a total of $199,752.96.   I hope we can pass $200K in our retirement accounts next month.

Brokerage Account

Currently, our brokerage account consists of one stock (my wife’s old company) that went down $70.72 this month.  Our balance is $52.57 on a $2,000.00 in initial investment.  Almost worth nothing.  Lol!

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.  We pulled cash out of savings to pay off a ~$700 auto loan balance on a vehicle that we sold a few months ago and ~$400 to cover some bills.  This month our cash and savings accounts decreased $1,147.46, bringing the total to $3,541.08.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it increased $637.48 from last month to a total balance of $16,692.60.  We also contributed $0 to our daughter’s 529 Plan and it increased $310.39 last month to a total balance of $8,106.90.

Home

We use the $528K purchase price that we paid in July 2016 for our home value.  Current comps in the area are ~$530K.  The current balance of our 15-year, 2.85% mortgage loan is $257,307.03.  We paid $100 extra towards principal this month.

Cars

My wife has a company vehicle and I have a 2012 sedan with 60K miles.  Our loan balance on my car is $11,511.14 at 1.99%.  We also paid off a small $706.48 loan balance (3.29%) on a vehicle that we sold in August 2016.

Credit Card Balance

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

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