Income Statement

January 2026 Income Statement

Leave a comment

In January, we had a pretty typical income month and a kinda high expense month.

This month, our total net income was $11,738.04.  In addition to my wife’s regular paychecks, she received $104.99 in company reimbursements.  We also earned $19.22 in Brand Club rewards and $25.25 in interest income from our savings account.

This month, our expenses totaled $16,098.34.   Large, non-fixed expenses included $1,925.54 for medical/dental/prescriptions, $1,342.60 for gym memberships (annual renewals & monthly dues), and $596.59 for a car repair.

Next month, my wife will receive a $3,000 bonus from her company for winning a big award.  We should also receive a $3,057 insurance refund and we have an appointment with our tax accountant to complete our 2025 filing.

Net Worth

January 2026 Net Worth Update (-81,253.64)

Leave a comment

Overall

January was a down month our net worth.  Our net worth decreased $81,253.64 from last month to a total of $2,307,074.33 (see spreadsheet screenshot).  Kinda a rocky start to the year, unfortunately.

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  My Wife contributes 7% (just went up 1% this month) to her 401(k) and her company matches 4% and chips in an additional 6% at the end of the year.  Her 401(k) contribution increases by 1% automatically in March every year.  This month, she contributed $1,281.36 to her 401(k).  I do not work and do not contribute to a retirement account any longer.  The total balance of our retirement accounts decreased $66,230.75 from last month to a total of $1,130,688.95.

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 $440,453.37, down $15,872.03 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 $170.91 this month to a total of $10,524.96.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $100 to our son’s 529 Plan and it increased $505.80 from last month to a total balance of $102,483.39.  We contributed $100 to our daughter’s 529 Plan and it increased $390.27 from last month to a total balance of $73,357.44.  Our total 2026 contributions so far are $100 for our son and $100 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 ~$905K.  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 (~110K miles on odometer) that we own (no auto loan). 

Credit Card Balance

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

Goals

2026 FINANCIAL GOALS

Our 2025 goals were a mixed bag of success and failure lol but now we have a new year to start fresh.  I should mention that in 2025, my wife earned $325,028, eclipsing our highest income year ever (2020 when we had a combined income of $312,801 and I retired the following year).  Below are our new financial goals for 2026.

1) Pass our 2035 Net Worth Goal

We ended 2025 with a net worth of $2,388,327, not quite reaching our 2035 net worth goal $2,500K.  So, let’s give it another attempt with a goal of ending 2026 with a net worth of $2,500K, which will be 9 years ahead of our net worth goal schedule.

2) $7,000 in tithing

We smoked our $6,000 giving target in 2025, ending the year with total church giving of $13,736.  So, let’s increase our goal for 2026 by $1,000, meaning a total annual giving goal of $7,000. I hope we crush it again.

3) Contribute $9,500 to 529 Plans ($4,750 for each child)

We succeeded in hitting our 2025 goal of $9,000 in total contributions to our kids’ 529 Plans so we intend to stretch the goal to $9,500 in total contributions for 2026. Our 14-year-old son ended 2025 with a 529 Plan balance of $101,977 and our 11-year-old daughter with a 529 Plna balance of $72,967.  College will be here before we know it.

4) Build our savings account balance to $15,000

Hitting our savings goal has been tough for us over the years. We ended 2025 with savings of $10,354, well below our $20,000 goal.  In light of that, we are going to set a more achievable goal for 2026, hoping to accumulate $15,000 in savings by the end of the year.  Roughly $8,800 of our savings are earmarked for property tax bills in 2026 so our goal is tougher than it seems.

5) Treat ourselves to our dream car

We’ve worked hard since 2007 to improve our financial situation and have been blessed to have a net worth that far exceeds our expectations.  Our son turns 16 years old in 2027 and we plan is to give him our well-maintained family SUV.  This means that we’ll need to get a vehicle to replace it and we’ve would like to treat ourselves to a dream car when the time comes.  God willing, we will splurge and purchase a lightly used Porsche 911 Turbo S in 2026 to enjoy some of the fruits of our labor.

Goals

REVIEW OF 2025 FINANCIAL GOALS

Happy New Year! 2025 was an amazing year but we had mixed results reaching our 2025 financial goals.  Below are our results.

1) Pass our 2035 Net Worth Goal FAIL

We had hoped to reach our 2035 net worth of $2,500,000 by the end of 2025 in order to maintain our 10-year lead over the net worth goals that we set for ourselves years ago.  At one point this past year, we had passed the 2035 goal by a large margin, reaching a net worth of $2,700,000, but markets declined causing our net worth to fall.  We ended 2025 with a net worth of $2,388,327.

2) $6,000 in tithing SUCCESS

We blew way past our goal of tithing $6,000 in 2025.  We ended the year with total giving of $13,736.  We are so blessed!

3) Contribute $9,000 to 529 Plans ($4,500 for each child) SUCCESS

We hit our 2025 goal of $9,000 in total contributions to our kids’ 529 Plans right before the end of the year. Our son is currently 14 years old with a 529 Plan balance of $101,977 and our daughter is 11 years old with a 529 Plan balance of $72,967. 

4) Maintain savings account balance of $20,000 FAIL

We fell short of our saving account balance goal.  This is one goal that we seem to struggle with every year.  Our excuse for 2025 was that we had $45,000 in unplanned house and car maintenance that depleted our savings significantly.  We ended 2025 with total savings of $10,354.

5) Take two family vacations SUCCESS

We took two large vacations this past year (Greece and Hawaii) and also a number of small get away trips.  Priceless “memory dividends” and money well spent.

Income Statement

December 2025 Income Statement

In December, we had an amazing income month and a kinda high expense month.

This month, our total net income was $22,008.86.  In addition to my wife’s regular paychecks, she received a $13,025 gross ($8,054.29 net) quarterly bonus, $94.99 in company reimbursements and she sold $1,011.59 of company stock.  We also earned $16.69 in interest income from our savings account.

This month, our expenses totaled $15,651.01.   Large, non-fixed expenses included $2,853.73 for giving, $814.30 for medical/prescriptions and $573.40for clothing.

Next month should be a pretty typical month other than $685 due for our term life insurance.

Net Worth

December 2025 Net Worth Update (+9,218.10)

Overall

December was a pretty neutral month our net worth.  Our net worth increased $9,218.10 from last month to a total of $2,388,327.97 (see spreadsheet screenshot).

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  My Wife contributes 7% (just went up 1% this month) to her 401(k) and her company matches 4% and chips in an additional 6% at the end of the year.  Her 401(k) contribution increases by 1% automatically in March every year.  This month, she contributed $1,932.61 to her 401(k).  I do not work and do not contribute to a retirement account any longer.  The total balance of our retirement accounts decreased $9,167.38 from last month to a total of $1,196,919.70.

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 $456,325.40, up $12,341.01 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 $4,537.35 this month to a total of $10,354.05.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $182 to our son’s 529 Plan and it increased $976.48 from last month to a total balance of $101,977.59.  We contributed $182 to our daughter’s 529 Plan and it increased $750.68 from last month to a total balance of $72,967.17.  We hit our goal of contributing $4,500 to our son’s 529 plan and $4,500 to our daughter’s 529 plan!

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$900K.  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 (~110K miles on odometer) that we own (no auto loan). 

Credit Card Balance

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

Income Statement

November 2025 Income Statement

In November, we had a standard income and expense month.

This month, our total net income was $12,967.16.  In addition to my wife’s regular paychecks, she received $119.99 in company reimbursements.  We also earned $15.87 in interest income from our savings account.

This month, our expenses totaled $13,532.45.   Large, non-fixed expenses included $936.87 for insurance, $877.25 for medical/prescriptions and $548.65 for vacation.

Next month my wife will receive her quarterly bonus.

Net Worth

November 2025 Net Worth Update (-271,721.93)

Overall

November was a rough month for our net worth.  Our net worth decreased $271,721.93 from last month to a total of $2,379,109.87 (see spreadsheet screenshot).

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  My Wife contributes 7% (just went up 1% this month) to her 401(k) and her company matches 4% and chips in an additional 6% at the end of the year.  Her 401(k) contribution increases by 1% automatically in March every year.  This month, she contributed $1,281.36 to her 401(k).  I do not work and do not contribute to a retirement account any longer.  The total balance of our retirement accounts decreased $137,638.87 from last month to a total of $1,206,087.08.

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 $443,984.39, down $133,340.22 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 $1,263.47 this month to a total of $5,816.70.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $165 to our son’s 529 Plan and it increased $405.58 from last month to a total balance of $101,001.11.  We contributed $165 to our daughter’s 529 Plan and it increased $337.31 from last month to a total balance of $72,216.49.  Our total 2025 contributions so far are $4,318 for our son and $4,318 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 ~$905K.  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 (~110K miles on odometer) that we own (no auto loan). 

Credit Card Balance

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

Income Statement

October 2025 Income Statement

In October, we had a standard income month and expense month.

This month, our total net income was $12,980.45.  In addition to my wife’s regular paychecks, she received $124.99 in company reimbursements.  We also earned $24.16 in interest income from our savings account.

This month, our expenses totaled $12,819.63.  Large, non-fixed expenses included $896.61 for dentist visits and $600 for home maintenance.

Next month we have our auto insurance due and will be taking a family vacation, so expenses will be higher than usual.

Net Worth

October 2025 Net Worth Update (-88,412.31)

Overall

October was not a great month for our net worth.  Our net worth decreased $88,412.31 from last month to a total of $2,650,831.80 (see spreadsheet screenshot).  

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  My Wife contributes 7% (just went up 1% this month) to her 401(k) and her company matches 4% and chips in an additional 6% at the end of the year.  Her 401(k) increases 1% automatically in March every year.  This month, she contributed $1,281.36 to her 401(k).  I do not work and do not contribute to a retirement account any longer.  The total balance of our retirement accounts decreased $47,942.02 from last month to a total of $1,343,725.95.

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 $577,324.61, down $41,326.29 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 $2,846.18.08 this month to a total of $7,080.17.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $165 to our son’s 529 Plan and it increased $2,290.23 from last month to a total balance of $100,595.53.  We contributed $165 to our daughter’s 529 Plan and it increased $1,636.46 from last month to a total balance of $71,879.18.  Our total 2025 contributions so far are $4,153 for our son and $4,153 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 ~$911K.  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 (~110K miles on odometer) that we own (no auto loan). 

Credit Card Balance

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

Our path to financial independence and retiring early.