We passed our net worth milestones of $1,040,000 this month. Our net worth is currently $1,040,873. We passed our last net worth milestone of $1,030,000 last month. We hope to reach out next milestone of $1,050,000 in October.
All posts by 1MansMoney
August 2020 Income Statement
In August, we had a really great income month but we also spent a bunch of money too.
Our total income in August was $37,075.15! In addition to our regular paychecks, I received a monthly bonus of $2,141.00 gross ($1,175.33 net). My wife also sold her company stock for $25,698.14! Plus, we earned $14.14 in interest income from our savings accounts.
This month, our expenses totaled $20,021.29! Large expenses included $839.21 in vacation, $800.76 boat property tax and $1,574.70 in Read more [...]
August 2020 Net Worth Update (+$42,629.34)
Overall
We officially became millionaires in August! We passed our net worth milestones of $1,000K, $1,010K, $1,020K and $1,030K. Our net worth increased $42,629.34 from last month to a total of $1,033,051.25 (see spreadsheet screenshot). Such a blessing!
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 8% to my wife’s 401(k). My wife’s company matches up to 6% of her 401(K) contribution Read more [...]
NET WORTH MILESTONE: $1,030,000
August keeps getting better! We passed our net worth milestones of $1,030,000. Our net worth is currently $1,032,446. We passed our last net worth milestone of $1,020,000 earlier this month. We hope to reach out next milestone of $1,040,000 in September.
NET WORTH MILESTONE: $1,020,000
Another amazing month! We passed our net worth milestones of $1,020,000. Our net worth is currently $1,022,219. We passed our last net worth milestone of $1,010,000 earlier this month. We hope to reach out next milestone of $1,030,000 in September.
NET WORTH MILESTONE: $1,010,000
We passed our net worth milestones of $1,010,000. Our net worth is currently $1,013,899. We passed our last net worth milestone of $1,000,000 earlier this month. We hope to reach out next milestone of $1,020,000 in September.
NET WORTH MILESTONE: $1,000,000!
We passed our net worth milestones of $1,000,000! I started tracking our net worth in 2007 when we had a negative worth. 13 years later, a snapshot of our finances look like this:
$465K in retirement savings$82K in brokerage accounts & cash$53K saved for our kids' college (age 8 and 6)Paid off 2017 SUV$355K in home equity (actually $463K equity using current comps instead of our $528K purchase price)
Our net worth is currently $1,001,678.16, making us officially millionaires:) We passed Read more [...]
July 2020 Income Statement
In July, we had our best income month ever! As I mentioned in our June net worth update, wife’s company had been restructuring and she accepted the severance package because she found a new position with another company making a 10% higher salary.
Our total income in July was $88,132.45! In addition to our regular paychecks, I received a monthly and quarterly bonus of $4,964.00 gross ($2,725.04 net). More importantly, my wife’s received a $72,614.24 severance/cashed out vacation Read more [...]
NET WORTH MILESTONE: $990K
We passed our net worth milestones of $990K! Our net worth is currently $991,163. We passed our last net worth milestone of $980K earlier this month. We hope to reach out next milestone of $1,000K in August. Almost officially millionaires!
Read more [...]
July 2020 Net Worth Update (+$87,101.96)
Overall
July was one of the best months for our net worth. We passed our net worth milestones of $910K-980K this month. Our net worth increased $87,101.96 from last month to a total of $990,421.91 (see spreadsheet screenshot).
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 8% to my wife’s 401(k). My wife’s company matches up to 6% of her 401(K) contribution and chips in an additional Read more [...]