We just passed our net worth milestone of $1,780,000! Our net worth is currently $1,786,690. We passed our last net worth milestone of $1,770,000 a few days ago. We hope to reach our next milestone of $1,790,000 by October.
August 2021 Income Statement
In August, we had a good income month and an okay expense month (compared to our monthly average).
Our total income in August was $11,995.35. In addition to my wife’s regular paychecks, she received $198.31 in company reimbursements for internet. I received $3,525 in unemployment benefits. We also received $333 in child tax credits from the IRS. We earned $10.50 in interest income from our savings accounts.
This month, our expenses totaled $14,440.41. Large, non-recurring expenses included $1,126.96 for a new washing machine, $1,110.16 for medical/prescriptions and $508.56 for vacation expenses.
Next month, my unemployment checks may end but, more importantly, we will be paying off our home mortgage!
August 2021 Net Worth Update (+$209,608.21)
Overall
August was our 2nd highest increase ever, only bested by a $230K increase in February 2021. Our net worth which increased $209,608.21 from last month to a total of $1,772,511.87 (see spreadsheet screenshot). This month we passed net worth milestones of $1,730,000 to $1,770,000. Such a blessing!
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 $911.10 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 $29,067.59 from last month to a total of $633,164.87.
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”). We experienced huge gains through our cryptocurrency investments. The total current value of our brokerage accounts is $595,985.54, up $174,913.35 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 increased $1,769.75 this month to a total of $54,013.58
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $100 to our son’s 529 Plan and it increased $1,421.01 from last month to a total balance of $50,042.07. We contributed $100 to our daughter’s 529 Plan and it increased $953.78 from last month to a total balance of $32,347.19. Total 2021 contributions thus far are $3,300 for our son and $3,390 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 ~$815K. The current balance of our 15-year, 2.375% mortgage loan is $202,241.21. We paid $1,300 extra to principal this month. Total 2021 extra payments to principal thus far are $3,800.
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.
Credit Card Balance
All of our credit card debt is paid in full each month.
NET WORTH MILESTONES: $1,750K – $1,770K
We just passed our net worth milestones of $1,750,000 to $1,770,000! Our net worth is currently $1,773,900. Amazing! We passed our last net worth milestone of $1,740,000 a few days ago. We hope to reach our next milestone of $1,780,000 by October.
NET WORTH MILESTONES: $1,730K – $1,740K
We just passed our net worth milestones of $1, 730,000 to $1,740,000! Our net worth is currently $1,742,344. Thank God! We passed our last net worth milestone of $1,720,000 four months ago. We hope to reach our next milestone of $1,750,000 by October.
July 2021 Income Statement
In July, we had a good income month and a large expense month.
Our total income in July was $11,321.02. In addition to my wife’s regular paychecks, she received $184.43 in company reimbursements for internet. I received $2,820.00 in unemployment benefits. We also received $333 in child tax credits from the IRS and $44.35 in reimbursements from our insurance company. We earned $10.70 in interest income from our savings accounts.
This month, our expenses totaled $12,869.39. Large, non-recurring expenses included $734.84 for vacations, $526 for medical/prescriptions and $667.36 for a new laptop.
Next month, my wife should receive her quarterly bonus.
July 2021 Net Worth Update (+$37,809.73)
Overall
July was a good increase month for our net worth. It increased $37,809.73 from last month to a total of $1,562,903.66 (see spreadsheet screenshot).
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 $911.10 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 $17,306.85 from last month to a total of $604,097.28.
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 $421,072.19, up $18,143.16 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 $89.30 this month to a total of $52,243.83.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it increased $1,201.42 from last month to a total balance of $48,621.06. We contributed $0 to our daughter’s 529 Plan and it increased $775.73 from last month to a total balance of $31,393.41. Total 2021 contributions thus far are $3,200 for our son and $3,290 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 ~$815K. The current balance of our 15-year, 2.375% mortgage loan is $204,544.34. We paid $300 extra to principal this month. Total 2021 extra payments to principal thus far are $2,400.
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.
Credit Card Balance
All of our credit card debt is paid in full each month.
June 2021 Income Statement
In June, we had a good income month and a large expense month.
Our total income in June was $13,733.56. In addition to my wife’s regular paychecks, she received a $206.38 in company reimbursements for internet. My unemployment issues were resolved and I received backpay of $5,640 in unemployment benefits for the bast eight weeks. We also earned $17.26 in interest income from our savings accounts.
This month, our expenses totaled $15,078.32. Large, non-recurring expenses included $1,745 for vacations, $1,017.38 for medical/prescriptions and $900 in extra mortgage payments.
Next month should be a pretty typical income and expense month.
June 2021 Net Worth Update (-$10,320.85)
Overall
June was another tough month for our net worth. Due to a downturn in cryptocurrencies, our net worth decreased $10,320.85 from last month to a total of $1,525,093.93 (see spreadsheet screenshot).
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 $911.10 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 $13,799.16 from last month to a total of $586,790.43.
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 $402,929.03 down $29,710.78 from last month. It was another tough month for our cryptocurrency investments.
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 increased $2,296.87 this month to a total of $52,333.13.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $200 to our son’s 529 Plan and it increased $1,193.78 from last month to a total balance of $47,419.64. We contributed $200 to our daughter’s 529 Plan and it increased $840.76 from last month to a total balance of $30,617.68. Total 2021 contributions thus far are $3,200 for our son and $3,290 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 ~$710K. The current balance of our 15-year, 2.375% mortgage loan is $205,844.70. We paid $1,100 extra to principal this month. Total 2021 extra payments to principal thus far are $2,100.
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.
Credit Card Balance
All of our credit card debt is paid in full each month.
May 2021 Income Statement
In May, we had a lower than normal income month and a large expense month.
Our total income in May was $11,128.31. In addition to my wife’s regular paychecks, she received a quarterly bonus of $5,100 gross ($2,971.57 net) and $213.37 in company reimbursements for internet. My unemployment benefits have run out but I am waiting hear back to see if I will receive an extension. We earned $15.18 in interest income from our savings accounts.
This month, our expenses totaled $11,437.57. Large, non-recurring expenses included $1,068 for vacations, $1,536 for household items and $831 in giving to our church.
