March 2018 Net Worth Update ($6,118.13)
March was a good month for our net worth. It increased $6,118.13 from last month to a total of $654,214.48 (see spreadsheet screenshot).
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 new 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 in March). This month, we contribution of $1,414.50.00 to her 401(k). Her company also deposited the annual match of $5,413.97 ($4,781.47 is a 3 year vested & the rest is 100% vested). We contribute 6% to my 401(k) and my company matches up to 4% and deposits the match in March (100% vested when deposited). This month, we contributed $294.23 to my 401(k). The total balance of our retirement accounts increased $1,616.23 from last month to a total of $275,400.84.
Currently, our brokerage account consists of four stocks and some cryptocurrency (I prefer to track it in the “brokerage account” field rather than “Cash & Savings Accounts”. The total current value is $6,037.37, down $3,221.72 from last month, mostly due to the cryptocurrency market drop.
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. Our cash and savings accounts increased $1,504.01 this month, bringing the total to $9,777.71.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $1,000 to our son’s 529 Plan and it increased $436.58 from last month to a total balance of $22,068.08. We contributed $1,000 to our daughter’s 529 Plan and it increased $659.09 from last month to a total balance of $11,794.29.
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 $227,894.96. We paid $2,200 extra towards principal this month.
My wife’s 2017 SUV has 20,000 miles. Her company gives her $300/month auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is $44,646.75 at 2.79%. I have a 2012 sedan with 105K miles. My company gives me a $450/month vehicle allowance and provides me with a gas card. The loan balance on my car is $6,502.45 at 1.99% (we paid an extra $2,000 to principal this month). We also have a ski boat with a loan balance of $53,494.99 at 5.24%.
Credit Card Balance
We do not currently have a credit card balance that is not paid in full each month.