We just passed our net worth milestones of $1,540,000 to $1,550,000! Thank God our cyptocurrency investments are skyrocketing! Our net worth is currently $1,551,062. We passed our last net worth milestone of $1,530,000 a few days ago. We hope to reach our next milestone of $1,560,000 later this month.
All posts by 1MansMoney
NET WORTH MILESTONES: $1,520K – $1,530K
We just passed our net worth milestones of $1,520,000 to $1,530,000! Our net worth is currently $1,530,062. We passed our last net worth milestone of $1,510,000 a few days ago. We hope to reach our next milestone of $1,540,000 later this month.
NET WORTH MILESTONES: $1,500K – $1,510K
We just passed our net worth milestones of $1,500,000 to $1,510,000! Our net worth is currently $1,517,651. We passed our last net worth milestone of $1,490,000 yesterday. We hope to reach our next milestone of $1,520,000 later this month (maybe tomorrow lol).
NET WORTH MILESTONE: $1,490K
We just passed our net worth milestone of $1,490,000! Our net worth is currently $1,492,867. We passed our last net worth milestone of $1,480,000 this month. We hope to reach our next milestone of $1,500,000 later this month.
NET WORTH MILESTONES: $1,460K – $1,480K
We just passed our net worth milestones of $1,460,000 to $1,480,000! Our net worth is currently $1,487,867. We passed our last net worth milestone of $1,450,000 last month. We hope to reach our next milestone of $1,490,000 later this month.
NET WORTH MILESTONES: $1,420K – $1,450K
We just passed our net worth milestones of $1,420,000 to $1,450,000! Thank God for making bitcoin such a great investment. Our net worth is currently $1,454,990. We passed our last net worth milestone of $1,410,000 last month. We hope to reach our next milestone of $1,460,000 this month.
NET WORTH MILESTONES: $1,380K – $1,410K
We just passed our net worth milestones of $1,380,000 and $1,410,000! Our net worth is currently $1,418,090. We passed our last net worth milestone of $1,370,000 last month. We hope to reach our next milestone of $1,420,000 this month.
January 2021 Income Statement
In January, we had a pretty typical income month and expense month.
Our total income in January was $10,629.15. In addition to my wife’s regular paychecks, she received $137.98 in company reimbursements. I received $2,700 in unemployment (includes extra $300/week extra stimulus money). We earned $11.45 in interest income from our savings accounts.
This month, our expenses totaled $9,613.57. Large, non-recurring expenses included $1,106 for a cruise down payment, $685 for term life insurance, $615 for wife’s dentist, and $520 for prescriptions.
Next month, my wife should receive a quarterly bonus of $14,260 gross.
January 2021 Net Worth Update (+$76,949)
Overall
January was another great net worth month. At one point, our net worth surpassed $1,370K, but retracked a bit towards the end of the month. Our net worth increased $76,949.49 from last month to a total of $1,329,796.32 (see spreadsheet screenshot).
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 6% 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 $761.54 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 $4,371.78 from last month to a total of $505,845.66.
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 is $333,114.95, up $76,421.81 from last month.
Cash & Savings Account
Cash and savings accounts consists of a small sum of cash at home and 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 $2,733.89 this month to a total of $27,627.50.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it decreased $142.52 from last month to a total balance of $37,816.17. We contributed $0 to our daughter’s 529 Plan and it decreased $87.71 from last month to a total balance of $23,273.65.
Home
For our home value, we use the $528K purchase price that we paid in July 2016. Current comps in the area are ~$690K. We refinanced our mortgage last month and our first payment is not due until February. The current balance of our 15-year, 2.375% mortgage loan is $213,000.
Vehicles
My wife drives a company vehicle and has a company gas card. I drive a 2017 SUV (~80K miles) that we own. In addition, we own a 2013 ski boat.
Credit Card Balance
All of our credit card debt is paid in full each month.
NET WORTH MILESTONES: $1,360K – $1,370K
We just passed our net worth milestones of $1,360,000 and $1,370,000! Wow! Our net worth is currently $1,375,122. We passed our last net worth milestone of $1,350,000 yesterday. We hope to reach our next milestone of $1,380,000 this month.