Net Worth

July 2023 Net Worth Update (+25,739.64)

Overall

In July, our net worth increased $25,739.64 from last month to a total of $1,492,391.24 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 7% 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 $1,150.52 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 $24,907.34 from last month to a total of $583,544.92.

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 $204,027.25, up $1,951.60 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance. It does not include our checking account balance that we use to pay our bills each month.  Our savings decreased $4,653.65 this month to a total of $49,216.59.  

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it increased $2,272.18 from last month to a total balance of $58,640.36.  We contributed $0 to our daughter’s 529 Plan and it increased $1,553.72from last month to a total balance of $40,098.32 Our total 2023 contributions so far are $3,000 for our son and $3,000 for our daughter.  We hit our contribution goal for the year!

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$884K.  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 (~94K miles) that we own and it is paid off. 

Credit Card Balance

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

Income Statement

June2023 Income Statement

In June, we had a large income month but also an even larger expense month.

Our total income in June was $17,677.85.  In addition to my wife’s regular paychecks, she received a quarterly bonus of $11,475 gross ($6,412 net) and company reimbursements for internet of $198.99.  We also earned $177.74 in interest income from our savings accounts. 

This month, our expenses totaled $18,846.03.  Large expenses included $1,085 for vacations, $2,739 for home insurance, and $2,803 for furniture.

Next month should be a more typical income and expense month.

Net Worth

June 2023 Net Worth Update (+53,083.38)

Overall

In June, our net worth increased $53,083.38 from last month to a total of $1,466,651.60 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 7% 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 $1,724.27 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 $28,785.58 from last month to a total of $558,637.58.

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 $202,075.65, up $19,543.68 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance. It does not include our checking account balance that we use to pay our bills each month.  Our savings increased $557.35 this month to a total of $53,870.24  

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it increased $2,667.34 from last month to a total balance of $56,368.18.  We contributed $0 to our daughter’s 529 Plan and it increased $1,823.93 from last month to a total balance of $38,544.60. Our total 2023 contributions so far are $3,000 for our son and $3,000 for our daughter.  We hit our contribution goal for the year!

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$884K.  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 (~94K miles) that we own and it is paid off. 

Credit Card Balance

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

Income Statement

May 2023 Income Statement

In May, we had a regular income month and a very high expense month.

Our total income in May was $11,140.30.  In addition to my wife’s regular paychecks, she received $0 in company reimbursements for internet (she will get double next month).  We also earned $109.18 in interest income from our savings accounts.  We sold our 2013 ski boat this month for $65,000.

This month, our expenses totaled a whopping $20,272.47.  Large expenses included $5,873 for home maintenance, $1,755 for a new purse (added to Misc bucket), and $1,569.29 for vacations.

In June, my wife should receive her quarterly bonus of ~$10,000 gross.

Net Worth

May 2023 Net Worth Update (+2,867.96)

Overall

In May, our net worth increased $2,867.96 from last month to a total of $1,413,568.22 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 7% 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 $1,150.52 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 $1,475.33 from last month to a total of $529,852.00.

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 $182,531.97, down $13,290.04 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance. It does not include our checking account balance that we use to pay our bills each month.  Thanks to selling our ski boat, our savings increased $46,599.19 this month to a total of $53,312.89  

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $1,750 to our son’s 529 Plan and it increased $2,306.18 from last month to a total balance of $53,700.84.  We contributed $1,750 to our daughter’s 529 Plan and it increased $2,134.38 from last month to a total balance of $36,720.67. Our total 2023 contributions so far are $3,000 for our son and $3,000 for our daughter.  We hit our goal for the year!

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$865K.  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 (~93K miles) that we own and it is paid off.  We sold our 2013 ski boat this month for $65,000.

Credit Card Balance

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

Income Statement

April 2023 Income Statement

In April, we had an good income month and a low expense month.  We thought we were going to owe a lot of income tax but it turns out we received a $4,174 federal refund and $2,436 state refund.

Our total income in April was $11,008.46.  In addition to my wife’s regular paychecks, she received $96.49 in company reimbursements for internet. We also earned $22.85 in interest income from our savings accounts.

This month, our expenses totaled $5,406.89, however, if you remove our $6,610.00 tax refund, our expenses were $12,115.08.  That’s not too bad considering we usually spend a lot more.  Large expenses included $2,382.25 for household items, $2,143.02 for vacation expenses, and $604.96 for clothing.

In May, we expect to have a pretty standard income and expense month.

Net Worth

April 2023 Net Worth Update (+26,160.46)

April 2023 Net Worth Update (+26,160.46)

Overall

In April, our net worth increased $26,160.46 from last month to a total of $1,410,700.25 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 7% 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 $1,150.52 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 $13,855.18 from last month to a total of $528,376.67.

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 $195,822.01, up $12,270.44 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance. It does not include our checking account balance that we use to pay our bills each month.  Our savings decreased $2,797.54 this month to a total of $6,713.71  

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $500 to our son’s 529 Plan and it increased $1,994.55 from last month to a total balance of $51,394.66.  We contributed $500 to our daughter’s 529 Plan and it increased $1,502.56 from last month to a total balance of $34,586.29. Our total 2023 contributions so far are $1,250 for our son and $1,250 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 ~$840K.  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 (~93K 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.

Income Statement

March 2023 Income Statement 

In March, we had an excellent income month and a high expense month. 

My wife earned a 3.81% raise, bringing her salary to $197,232, she also received $26,600 in LTI.  So proud of her; the raise started on her 3/15/23 paycheck.  Our total income in March was $17,368.56.  In addition to my wife’s regular paychecks, she received a $11,475 gross ($6,378.32 net) quarterly bonus and $76.88 in company reimbursements for internet.  We also earned $24.24 in interest income from our savings accounts.

This month, our expenses totaled $19,782.83; well above our income this month.  Large expenses included $4,839.51 for auto service, $2,427.06 for vacation expenses, and $796.28 for car insurance.

In April, we meet with our Tax Accountant to do our 2022 taxes.  We will likely owe taxes but we are not sure how much yet.  Hopefully it doesn’t wipe out our small amount of savings and put us into debt.

Net Worth

March 2023 Net Worth Update (+53,714.63)

Overall

In March, our net worth increased $53,714.63 from last month to a total of $1,384,539.79 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 7% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  They just did her annual “chip in” match of $6,129.41 (vests over 3 years).  This month, she contributed $1,724.27 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 $28,246.53 from last month to a total of $514,521.49.

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 $183,551.57, up $27,095.44 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance. It does not include our checking account balance that we use to pay our bills each month.  We had to pay a $4,300 property tax bill so our savings decreased $2,547.44 this month to a total of $9,511.25.  

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $250 to our son’s 529 Plan and it increased $1,309.28 from last month to a total balance of $49,400.11.  We contributed $250 to our daughter’s 529 Plan and it increased $960.46 from last month to a total balance of $33,083.73. Our total 2023 contributions so far are $750 for our son and $750 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 ~$840K.  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.

Uncategorized

February 2023 Income Statement   

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

Our total income in January was $11,290.76.  In addition to my wife’s regular paychecks, she received $596.99 in company reimbursements for internet and her gym membership.  We also earned $27.50 in interest income from our savings accounts.

This month, our expenses totaled $9,687.32.  Large expenses included $999.46 for entertainment, $1,290 for gym memberships (wife’s company reimburse $500), and $560 for vacation.

In March, my wife receives a 3.81% raise ($7,232 raise) and 26,600 shares of company stock LTI of company stock that vests over 4 years.

  

Our path to financial independence and retiring early.