Overall
In August, our net worth decreased $3,405.11 to a total of $488,858.96 (see spreadsheet screenshot). The decrease was primarily from selling our vehicle at a loss and having to dip into savings.
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 10% to my 401(k) and 5% to my wife’s 401(k). My company matches up to $1,000 per year (vested over five years). 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). This month, we contributed $400 to my 401(k). My wife contributed $500 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”. We saw the total balance of our retirement accounts increase $3,233.91 from last month to a total of $191,654.02.
Brokerage Account
Currently, our brokerage account consists of one stock (my wife’s old company) that went down $17.28 this month. Our balance is $206.32 on a $2,000.00 in initial investment. Riding this one to the bottom!
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. This month our cash and savings accounts decreased $1,695.73, bringing the total to $7,481.81.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $400 to our son’s 529 Plan and it increased $391.04 from last month to a total balance of $16,234.20. We also contributed $400 to our daughter’s 529 Plan and it increased $393.81 over last month to a total balance of $7,904.36.
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 $261,000. We paid an extra $0 towards principal this month. Our first payment is due September 1st.
Cars
“Car 2” was a 2012 SUV with ~85K miles. My wife and I both have company vehicles so we decided to sell the SUV to save ~$600/month (loan, insurance, fuel, etc). We sold the vehicle for $22,400 but our loan balance was $23,895.98. We are carrying the small $1,621.75 balance on the 3.29% loan for a couple of months because we didn’t want to deplete our savings account right now.
Credit Card Balance
We do not currently have a credit card balance that is not paid in full each month.