We just passed our net worth milestones of $1,260,000 to $1,280,000! Our net worth is currently $1,289,209. We passed our last net worth milestone of $1,250,000 last month. We hope to reach out next milestone of $1,290,000 next month.
December 2020 Income Statement
In December, we had a very high income month and an even higher expense month.
Our total income in December was $51,127.48. In addition to my wife’s regular paychecks, she received $187.97 in company reimbursements. I received $1,800 in unemployment in November. We pulled $38,237.68 cash out of our home to pay off our boat loan and received an escrow refund of $3,427.65. Plus, we earned $15.29 in interest income from our savings accounts.
This month, our expenses totaled $55,142.42. Way too much but, a huge amount was used to pay off our boat. Even so, that means we still spent $12,009.27 on everything else. Large, non-recurring expenses include $43,133.15 to pay off our boat, $1,725 for setting up a living trust (50% of total fee), $829 for doctor visits and prescriptions, and $372 for personal care items.
Next month, our income will be much lower so we have to watch our expenses.

December 2020 Net Worth Update (+$109,674)

Overall
December was our 2nd largest net worth increase month ever, just behind our largest month of June 2016 ($130K increase). Our net worth increased $109,674.00 from last month to a total of $1,252,846.83 (see spreadsheet screenshot). We passed 11 net worth milestones ($1,150K to $1,250K) this month! Such a blessing!
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 $1,361.54 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 $20,956.05 from last month to a total of $501,473.88.
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”). Our cryptocurrency investments have been skyrocketing lately. The total current value is $256,693.14, up $94,811.26 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 $6,664.61 this month to a total of $30,361.39.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $50 to our son’s 529 Plan and it increased $1,629.69 from last month to a total balance of $37,958.69. We contributed $50 to our daughter’s 529 Plan and it increased $1,021.36 from last month to a total balance of $23,361.36.
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 this month from our 15-year, 2.875% mortgage loan to a 15-year, 2.375% mortgage loan. As part of the refi, we cashed out $38,237.68 to pay off our boat loan that was at 5.24%. 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 that we paid off this month (balance was $42,883.23).
Credit Card Balance
All of our credit card debt is paid in full each month.
NET WORTH MILESTONE: $1,250K
We just passed our net worth milestones of $1,250,000! Our net worth is currently $1,252,846.83. We passed our last net worth milestone of $1,240,000 yesterday. We hope to reach out next milestone of $1,260,000 next month.
NET WORTH MILESTONE: $1,240K
We just passed our net worth milestones of $1,240,000! Our net worth is currently $1,244,238. We passed our last net worth milestone of $1,230,000 two days ago. We hope to reach out next milestone of $1,250,000 later this month.
NET WORTH MILESTONE: $1,230K
We just passed our net worth milestones of $1,230,000! Our net worth is currently $1,232,514. We passed our last net worth milestone of $1,220,000 yesterday. We hope to reach out next milestone of $1,240,000 later this month.
NET WORTH MILESTONEs: $1,210K & $1,220K
You may have heard that cyptocurrency prices have been increasing dramatically lately. It has absolutely catapulted our net worth this month and we just passed our net worth milestones of $1,210,000 and $1,220,000. Our net worth is currently $1,223,621. We passed our last net worth milestone of $1,200,000 yesterday lol. We hope to reach out next milestone of $1,230,000 later this month.
NET WORTH MILESTONE: $1,200K
Thanks again to our cyptocurrency price appreciation, we just passed our net worth milestone of $1,200,000. Such a blessing! Our net worth is currently $1,203,932. We passed our last net worth milestone of $1,190,000 a few days ago. We hope to reach out next milestone of $1,210,000 later this month.
NET WORTH MILESTONEs: $1,180k & $1,190K
Thanks to our cyptocurrency price appreciation, we just passed our net worth milestones of $1,180,000 and 1,190,000. Our net worth is currently $1,199,802. We passed our last net worth milestone of $1,170,000 earlier this month. We hope to reach out next milestone of $1,200,000 later this month.
NET WORTH MILESTONE: $1,170,000
We just passed our net worth milestones of $1,170,000. Our net worth is currently $1,177,752. We passed our last net worth milestone of $1,160,000 earlier this month. We hope to reach out next milestone of $1,180,000 later this month.