All posts by 1MansMoney

I am a guy pushing 40 that is married to a beautiful woman in her 30's. If I can only have as much luck with our finances.
Net Worth

November 2021 Net Worth Update (-$857.05)

Overall

November was basically a neutral month for our net worth.  Our net worth decreased $857.05 from last month to a total of $1,903,747.19 (see spreadsheet screenshot).  We passed our net worth milestones of $1,910K to $1,930K this month but fell back below later in the month.

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 7% to my wife’s 401(k).  My wife’s company matches up to 6% of her 401(K) contribution and chips in an additional 3% on top of the match at the end of the year (vests over 5 years).  This month, she contributed $1,798.14 to her 401(k).  Since I am unemployed, I did not contribute anything to my retirement accounts.  The total balance of our retirement accounts decreased $17,542.24 from last month to a total of $659,539.45.  

Brokerage Account

Currently, our brokerage account consists 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 $523,472.00, up $86,465.99 from last month.

Cash & Savings Account

Cash and savings accounts consists of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings decreased $68,921.27 this month to a total of $25,696.43.   We pulled a large sum out to do a short term investment in cyptocurrencies.  We plan to replenish our savings when we sell in a couple of months or so.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it decreased $66.93 from last month to a total balance of $51,803.92.  We contributed $0 to our daughter’s 529 Plan and it decreased $43.51 from last month to a total balance of $33,670.61. Total 2021 contributions thus far are $3,950 for our son and $3,990 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 (~85K miles) that we own.  In addition, we own a 2013 ski boat.

New Vehicle Fund

Our new car fund is intended to cover future vehicles for our family.  Contributions are invested in cryptocurrencies. We track these crypto investments separately for our others (see brokerage account above). This month, our new car fund increased $38.79 from last month to a total of $3,564.35.

Credit Card Balance

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

Income Statement

October 2021 Income Statement

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

Our total income in October was $14,098.91.  In addition to my wife’s regular paychecks, she received a third “extra” paycheck. My wife received $184.20 in company reimbursements for internet.  We also received $334.00 in child tax credits from the IRS.  We earned $85.87 in interest income from our savings accounts and stablecoins.

This month, our expenses totaled $12,977.86.  Large, expenses included $864.95 for vacations, $589.27 for entertainment, and $380.13 for medical costs.

Next month, my wife should receive a quarter bonus of ~$13K (gross).  She also may receive her annual raise.

Goals

October 2021 Net Worth Update (+215,984.08)

Overall

October was an incredible month for our net worth.  Our net worth increased $215,984.08 from last month to a total of $1,904,604.24 (see spreadsheet screenshot).  We passed our net worth milestones of $1,800K to $1,900K this month!

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 7% to my wife’s 401(k).  My wife’s company matches up to 6% of her 401(K) contribution and chips in an additional 3% on top of the match at the end of the year (vests over 5 years).  This month, we contributed $1,366.65 to her 401(k).  Since I am unemployed, I did not contribute anything to my retirement accounts.  The total balance of our retirement accounts increased $78,946.59 from last month to a total of $677,081.69 .  

Brokerage Account

Currently, our brokerage account consists 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 $437,006.01, up $129,329.89 from last month.

Cash & Savings Account

Cash and savings accounts consists of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings increased $1,406.05 this month to a total of $94,617.70. 

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $100 to our son’s 529 Plan and it increased $2,992.75 from last month to a total balance of $51,870.85.  We contributed $100 to our daughter’s 529 Plan and it increased $1,980.14 from last month to a total balance of $33,714.12. Total 2021 contributions thus far are $3,950 for our son and $3,990 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 (~85K miles) that we own.  In addition, we own a 2013 ski boat.

New Vehicle Fund

Our new car fund is intended to cover future vehicles for our family.  Contributions are invested in cryptocurrencies. We track these crypto investments separately for our others (see brokerage account above). This month, our new car fund increased $2,124.50 from last month to a total of $3,525.56.

Credit Card Balance

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

Income Statement

September 2021 Income Statement

In September, we had an amazing month all around.  Details below.

Our total income in September was $262,492.20!  This dramatic number was primarily due to having sold $247,959.97 worth of cryptocurrencies to pay off our house (and cover taxes from selling).  We also had income from my wife’s regular paychecks, my wife’s quarterly bonus of $6,920.00 gross ($4,115.04 net) and $164.76 my wife received in company reimbursements for internet.  I received $1,815.00 in unemployment benefits. We also received $334.00 in child tax credits from the IRS.  We earned $126.96 in interest income from our savings accounts.

This month, our expenses totaled $212,728.90.  Large, expenses included $201,235.90 in extra mortgage payments to pay off our mortgage, $954 for six months of my wife’s gym membership and $744.68 for six months of auto insurance.

Next month, my wife should receive a third “extra” paycheck.