In November, we had a slightly lower income month due to me quitting my job at the end of October. Thankfully, we also had a lower expense month.
Our total income in November was $15,784.06. In addition to my wife’s regular paychecks, she received $251.96 in company reimbursements and $10,000 gross ($5,832.24net) quarterly bonus. I received $1,800 in unemployment in November. Plus, we earned $17.80 in interest income from our savings accounts.
This month, our expenses totaled $9,962.78. This was a huge improvement over our typical monthly spending. We had little in the way of large, non-recurring expenses. We spent $464 for clothing and $269 on personal care items (haircuts, etc).
Next month, we need to lower our expenses a bit more because my wife won’t have any additional bonuses until next quarter.
November was my first full month jobless after quitting on 10/27/20. That didn’t slow us down though and our net worth increased an amazing $83,114.57 from last month to a total of $1,143,172.83 (see spreadsheet screenshot). This was our 3rd largest one month net worth increase ever (1st was June 2016 and 2nd was July 2020).
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 $761.54 to her 401(k). Since I am unemployed, I did not contribute anything to my retirement accounts. In fact, I withdrew $32,888.93 gross ($23,722.46 net) from my 401(k) under C.A.R.E.S. Act and invested the money in cryptocurrencies. The total balance of our retirement accounts increased $10,292.47 from last month to a total of $480,517.83.
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 cryptocurrencies have been on a tear lately due to contributions and market activity. The $23,722.45 that I pulled from my old 401(k) to by cryptocurrencies this month is already up $4,600, or 19.38%, in one month. The total current value is $161,881.88, up $69,868.51 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 $2,564.79 this month to a total of $37,026.00.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it increased $2,805.57 from last month to a total balance of $36,329. We contributed $0 to our daughter’s 529 Plan and it increased $1,725.27 from last month to a total balance of $22,340.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$675K. The current balance of our 15-year, 2.875% mortgage loan is $168,975.89. We paid $0 extra towards our home mortgage principal this month.
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 have a ski boat with a loan balance of $42,833.23 at 5.24%. We paid $0 extra to our boat loan this month.
Credit Card Balance
All of our credit card debt is paid in full each month.
What a month! We just passed our net worth milestones of $1,130,000 and $1,140,000. That is the seventh net worth milestone we have passed this month! Our cyptocurrency investments are paying off big time. Our net worth is currently $1,145,384. We passed our last net worth milestone of $1,120,000 a couple of days ago. We hope to reach out next milestone of $1,150,000 next month.
We passed our net worth milestones of $1,120,000 this month. Our net worth is currently $1,124,072. We passed our last net worth milestone of $1,110,000 a few days ago. We hope to reach out next milestone of $1,130,000 next month.
We passed our net worth milestones of $1,110,000 this month. Our net worth is currently $1,116,110. We passed our last net worth milestone of $1,100,000 a few days ago. We hope to reach out next milestone of $1,120,000 next month.
We passed our net worth milestones of $1,100,000 this month. Our net worth is currently $1,103,721. We passed our last net worth milestone of $1,090,000 a few days ago. We hope to reach out next milestone of $1,110,000 next month.
We passed our net worth milestones of $1,090,000 this month. Our net worth is currently $1,097,546. We passed our last net worth milestone of $1,080,000 last month. We hope to reach out next milestone of $1,100,000 later this month.
We passed our net worth milestones of $1,080,000 this month. Our net worth is currently $1,089,662. We passed our last net worth milestone of $1,070,000 last month. We hope to reach out next milestone of $1,090,000 later this month.
In October, we had a good income month and a low expense month. Sadly, I quit my job in October due to changes in my duties and compensation. My last day was the 27th.
Our total income in October was $19,982.02. In addition to our regular paychecks, my wife and I both received a third “extra” paycheck. I received a monthly draw/commission total of $4,402.34 gross ($3,010.54 net). We received $232.95 in company reimbursements and $1,308.66 gross ($876.52 net) for my cashed out vacation. Plus, we earned $17.41 in interest income from our savings accounts.
This month, our expenses totaled $14,105.04. Not too bad but it will have to be reduced dramatically more next month since I am not working.. Large expenses included $772 for a trampoline, $516 for clothing, $406 in prescriptions, and $723 in vacation.
In October, we passed our net worth milestones of $1,050K, $1,060K, and $1,070K, although we ended the month below $1,070K. The growth rate of our net worth has been amazing this year. We are averaging $24K increases every month. It feels like the stock market is due for a major correction in the next couple of years but in the meantime, we’ll keep enjoying the returns. Our net worth increased $22,428.71 from last month to a total of $1,060,058.26 (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 $1,015.38 to her 401(k). We contribute 11% to my 401(k) and my company matches up to 4% and deposits the match in March (100% vested when deposited). This month, we contributed $1,118.87 to my 401(k). The total balance of our retirement accounts increased $2,167.73 from last month to a total of $470,225.36.
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 cryptocurrencies have been on an upward trend lately. The total current value is $92,013.37, up $16,997.54 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 $2,250.19 this month to a total of $39,590.79.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it decreased $230.45 from last month to a total balance of $33,523.43. We contributed $0 to our daughter’s 529 Plan and it decreased $141.71 from last month to a total balance of $20,614.73.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$675K. The current balance of our 15-year, 2.875% mortgage loan is $170,354.52. We paid $300 extra towards our home mortgage principal this month.
Vehicles
My wife and I both have company vehicles and gas cards. We also own a 2017 SUV with ~80,000 miles. In addition, we have a ski boat with a loan balance of $43,339.99 at 5.24%. We paid $300 extra to our boat loan this month.
Credit Card Balance
All of our credit card debt is paid in full each month.
Our path to financial independence and retiring early.
