In June, we had an amazing income month but we also had a huge expense month (see spreadsheet screenshot).
Our total income in June was $16,493.11. In addition to our regular paychecks, I received a monthly bonus of $1,968.00 gross ($1,080.36 net) and my wife received a quarterly bonus of $9,375 gross ($4,895.28 net). My wife also received a $168.66 auto allowance / mileage reimbursements, and $58.99 in internet reimbursements. We also earned $9.38 in interest income from our savings accounts.
This month, our expenses totaled $34,205.10. Absolutely crazy, I know. We’ve been doing a number of improvements to our home. Large expenses included $14,594.97 in home improvements, $3,067.53 in furniture and $6,575.15 in household items.
My wife separated from her company in mid June and started a new job at the end of June. We thought she would receive a large payout from her old company in June but it looks like it will arrive in July. She should receive a severance (~$95K), cashing out stock options (~$30K) and cashing out vacation time (~$11K).
June was another outstanding month for our net worth. Our net worth increased $23,981.82 from last month to a total of $903,319.95 (see spreadsheet screenshot).
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 8% to my wife’s 401(k). My wife’s company matches up to 5% of her 401(K) contribution (100% vested when deposited) and chips in an additional 5% on top of the match in March. This month, we contributed $1,474.83 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 $639.56 to my 401(k). The total balance of our retirement accounts increased $22,472.00 from last month to a total of $430,383.47.
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 $39,017.76, up $1,003.10 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 $1,322.32 this month to a total of $14,275.81.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $650 to our son’s 529 Plan and it increased $762.10 from last month to a total balance of $30,722.86. We contributed $650 to our daughter’s 529 Plan and it increased $462.38 from last month to a total balance of $18,669.14.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$580K. The current balance of our 15-year, 2.875% mortgage loan is $177,029.01. We paid $2,100 extra towards our home mortgage principal this month.
Vehicles
My company provides me a vehicle and gas card. My wife has a 2017 SUV with ~80,000 miles. Her company gives her $300/month auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is $27,323.96 at 2.79%. We paid $0 extra towards our auto loan principal this month. We also have a ski boat with a loan balance of $46,864.23 at 5.24%.
Credit Card Balance
All of our credit card debt is paid in full each month.
I’m behind a month on our net worth milestones and there’s been a lot of activity. We passed our net worth milestones of $860K and $870K in May and our milestones of $880K, $890K and $900K this month! Our net worth is currently $901,810. We passed our last net worth milestone of $850K in Feb. We hope to reach out next milestone of $910K in August.
In May, we had another great income month but a large expense month considering the income (see spreadsheet screenshot).
Our total income in May was $11,589.40. In addition to our regular paychecks, I received a third “extra” paycheck and a monthly bonus of $1,947.00 gross ($1,068.81 net). My wife also received a $168.66 auto allowance / mileage reimbursements, and $58.99 in internet reimbursements.
This month, our expenses totaled only $15,460.79. Large expenses included a $551.45 in phones/phone service, $1,150 in boat repairs, $1,623.51 in home maintenance.
Next month may be a massive month for us as my wife begins a new job at the end of the month making $15K more per year. If it goes as planned, her old company will be paying her a large severance (~$95K), cashing out her stock options (~$30K), cashing out her 4 weeks of vacation (~$11K) and fully vesting her 401(K) company match (~$30K). On top of all of that, she should receive a nice bonus (~$9K). Praying it all works out.
May was another amazing month for our net worth. Our net worth increased $60,778.03 from last month to a total of $879,338.13 (see spreadsheet screenshot). The main driver was 3 years of my wife’s 401K company match vesting this month.
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 8% to my wife’s 401(k). My wife’s company matches up to 5% of her 401(K) contribution (100% vested when deposited) and chips in an additional 5% on top of the match in March. Her company match fully vested this month (after 3 years with the company) adding ~$30K to her 401K balance. This month, we contributed $1,006.08 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 $637.25 to my 401(k). The total balance of our retirement accounts increased $49,963.23 from last month to a total of $413,332.84.
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 $38,014.66, up $8,540.28 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 $1,500 this month to a total of $12,953.49.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it increased $1,358.54 from last month to a total balance of $29,960.76. We contributed $0 to our daughter’s 529 Plan and it increased $877.69 from last month to a total balance of $18,206.76.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$580K. The current balance of our 15-year, 2.875% mortgage loan is $180,483.37. We paid $300 extra towards our home mortgage principal this month.
Vehicles
My company provides me a vehicle and gas card. My wife has a 2017 SUV with ~80,000 miles. Her company gives her $300/month auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is $27,953.31 at 2.79%. We paid $0 extra towards our auto loan principal this month. We also have a ski boat with a loan balance of $47,105.93 at 5.24%.
Credit Card Balance
All of our credit card debt is paid in full each month.
In April, we had an another great income month and a reasonable expense month considering the income (see spreadsheet screenshot).
Our total income in April was $23,352.37. In addition to our regular paychecks, I received a monthly and quarterly bonus of $5,003 gross ($2746.44 net) and my wife received a bonus of $2,500 gross ($1,556.79 net). My wife also received $2,500 in child care reimbursement, $168.66 auto allowance / mileage reimbursements and $46.99 in internet reimbursements. My wife sold company stock worth $6,028.14. We also earned $12.91 in interest income from our savings accounts.
This month, our expenses totaled only $12,409.20. Since we had more time at home due to the coronavirus shelter in place order, we spent $586.70 on home improvements. We also bought our son a laptop for home school $717.74.
Next month my wife should be a typical income month. Hopefully staying home will help us keep our expenses down.
April was a HUGE improvement over last month for our net worth. Our net worth increased $52,140.57 from last month to a total of $818,560.10 (see spreadsheet screenshot). Such a blessing!
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 8% to my wife’s 401(k). My wife’s company matches up to 5% of her 401(K) contribution (100% vested when deposited) and chips in an additional 5% on top of the match in March (vests over 3 years). This month, we contributed $1,131.08 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 $973.41 to my 401(k). The total balance of our retirement accounts increased $31,013.76 from last month to a total of $363,369.61.
Brokerage Account
Currently, our brokerage account consists of a handful of stocks and some cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”). The total current value is $29,474.38, up $9,882.37 from last month. Wow!
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 $3,462.91 this month to a total of $14,453.49.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it increased $4,556.73 from last month to a total balance of $28,602.22. We contributed $50 to our daughter’s 529 Plan and it increased $2,617.83 from last month to a total balance of $17,329.07.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$580K. The current balance of our 15-year, 2.875% mortgage loan is $182,133.78. We paid $300 extra towards our home mortgage principal this month.
Vehicles
My company provides me a vehicle and gas card. My wife has a 2017 SUV with ~80,000 miles. Her company gives her $300/month auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is $28,567.67 at 2.79%. We paid $0 extra towards our auto loan principal this month. We also have a ski boat with a loan balance of $47,333.11 at 5.24%.
Credit Card Balance
All of our credit card debt is paid in full each month.
In March, we had an awesome income month and a reasonable expense month considering the income (see spreadsheet screenshot).
Our total income in March was $29,578.19. In addition to our regular paychecks, I received a monthly bonus of $1,811.88 gross ($994.65 net) and my wife received a bonus of $18,649.36 gross ($14,352.39 net). My wife also received $646.57 in auto allowance / mileage reimbursements, $300 in gift credit cards and $46.99 in internet reimbursements. We received a state tax refund of $4,822. We also earned $11.19 in interest income from our savings accounts.
This month, our expenses totaled $21,293.93. Because of the coronavirus, we stocked up on food and essentials this month. Some big ticket items include $3,886 for groceries, $2,356 for household items and $762 in home maintenance.
Next month my wife should receive a discretionary bonus from her company.
As expected, March was a rough
month for our net worth. Our net worth decreased
$38,837.58 from last month to a total of $765,419.53 (see spreadsheet screenshot).
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our
Roth IRAs and our Traditional IRAs. We
contribute 8% to my wife’s 401(k). My
wife’s company matches up to 5% of her 401(K) contribution (100% vested when
deposited) and chips in an additional 5% on top of the match in March (vests
over 3 years). This month, we contributed $1,938.55 to her 401(k) and her company
deposited her annual match of $12,762.78.
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 $622.39 to my
401(k) and my company deposited my annual match of $3,175.09. The total balance of our retirement accounts decreased
$31,834.46 from last month to a total of $332,355.85.
Brokerage Account
Currently, our brokerage account consists of a handful of stocks
and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field
rather than “Cash & Savings Accounts”).
The total current value is $19,592.01, down $4,983.90 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 $476.63 this month to a
total of $10,990.58.
College Savings
Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $750 to our son’s 529
Plan and it decreased $4,003.14 from last month to a total balance of $24,045.49. We contributed $750 to our daughter’s 529
Plan and it decreased $1,891.23 from last month to a total balance of $14,711.24.
Home
We use the $528K purchase price that we paid in July 2016
for our home
value. Current comps in the area are ~$580K. The current balance of our 15-year, 2.875% mortgage
loan is $183,780.24. We paid $2,100 extra
towards our home mortgage principal this month.
Vehicles
My company provides me a vehicle and gas card. My wife has a 2017 SUV with ~80,000
miles. Her company gives her $300/month
auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is
$29,218.01 at 2.79%. We paid $100 extra towards our auto loan principal this
month. We also have a ski boat
with a loan balance of $47,606.57 at 5.24%.
Credit Card Balance
All of our credit card debt is paid in full each month.
In February, we had a good income month and a good (relatively
low) expense month (see spreadsheet screenshot).
Our total income in February was $14,424.37. In addition to our regular paychecks, I
received a monthly bonus of $2,075 gross ($1,139.08 net) and my wife received an
award bonus of $3,383 gross ($2,000 net).
My wife also received $509.50 in auto allowance / mileage reimbursements
and $46.99 in internet reimbursements. We
also earned $15.44 in interest income from our savings accounts.
This month, our expenses totaled $14,131.27. Some big ticket items include $1,014.08 in auto
insurance, $340 in car servicing (brakes) and $396 in prescriptions.
Next month my wife should receive a $10K-$20K bonus from her
company.
Our path to financial independence and retiring early.
