We passed our net worth milestones of $800K this month. We passed our last net worth milestone of $790K last month. We hope to reach out next milestone of $810K by December.
NET WORTH MILESTONE: $790K
We passed our net worth milestones of $790K this month. We passed our last net worth milestone of $780K last month. We hope to reach out next milestone of $800K by December. That would be an awesome way to end the year!
October 2019 Income Statement
In October, we were blessed with a great income month and a reasonable expense month (see spreadsheet screenshot).
Our total income in October was $15,753.12. In addition to our regular paychecks, I received a monthly and quarterly bonus of $5,100 gross ($2,836.11 net). My wife also received $1,451.28 in auto allowance / mileage reimbursements and $46.99 in internet reimbursements. We earned $8.06 in interest income from our savings accounts.
This month, our expenses totaled $13,072.92. It was nice to get our expenses back down to a somewhat more reasonable level. Big ticket items include $702 in boat insurance, $206 in doctor visits/medicine, and $239 in entertainment.
Next month, our expenses will probably be higher due to Christmas but my wife should receive a $1,000 bonus.
October 2019 Net Worth Update (+20,169.96)
Overall
October was another amazing month for our net worth. Our net worth increased $20,169.96 from last month to a total of $786,938.59 (spreadsheet screenshot). Stoked to pass our net worth milestone of $770K and $780!
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 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 $847.84 to her 401(k). We contribute 10% 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 $894.62 to my 401(k). The total balance of our retirement accounts increased $13,997.49 from last month to a total of $361,884.34.
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 $18,758.93, up $2,896.15 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 $88.06 this month, to a total of $7,484.05.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it increased $824.79 from last month to a total balance of $28,641.50. We contributed $0 to our daughter’s 529 Plan and it increased $487.85 from last month to a total balance of $16,915.86.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$530K. The current balance of our 15-year, 2.85% mortgage loan is $194,449.73. We paid $660 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 70,000 miles. Her company gives her $300/month auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is $32,868.81 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 $48,721.11 at 5.24%.
Credit Card Balance
All of our credit card debt is paid in full each month.
NET WORTH MILESTONE: $780K
We passed our net worth milestones of $780K this month. We passed our last net worth milestone of $770K this month too! We hope to reach out next milestone of $790K by December.
NET WORTH MILESTONE: $770K
We passed our net worth milestones of $770K this month. We passed our last net worth milestone of $760K in August. We hope to reach out next milestone of $780K by December.
September 2019 Income Statement
In September, we were blessed with an incredible income month and a higher than expected expense month (see spreadsheet screenshot).
Our total income in September was $23,057.55. In addition to our regular paychecks, I received a monthly bonus of $1,950 gross ($1,084.39 net) and my wife received a quarterly bonus $15,000 gross ($9,664.54 net). My wife also received $848.14 in auto allowance / mileage reimbursements and $46.99 in internet reimbursements. We earned $2.81 in interest income from our savings accounts.
This month, our expenses totaled $16,131.03. Honestly, we thought we did better and were surprised to see such a large figure. Big ticket items include $1,107 in doctor bills and prescriptions,$575 in car registration, and $1,800 in tithes.
Next month, we will probably have a more standard income and expense month.
September 2019 Net Worth Update (+13,869.49)
Overall
September was an amazing month for our net worth. Our net worth increased $13,869.49 from last month to a total of $766,768.63 (spreadsheet screenshot). The main reason for the solid month was my wife’s quarterly bonus of $15,000 gross ($9,664.54 net).
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 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 $1,597.84 to her 401(k). We contribute 10% 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 $579.62 to my 401(k). The total balance of our retirement accounts increased $7,278.88 from last month to a total of $347,886.85.
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 $15,862.78, down $934.26 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 increased 5,002.81 this month, to a total of $7,395.99.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $100 to our son’s 529 Plan and it increased $468.41 from last month to a total balance of $27,816.71. We contributed $0 to our daughter’s 529 Plan and it increased $219.34 from last month to a total balance of $16,428.01.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$530K. The current balance of our 15-year, 2.85% mortgage loan is $196,425.90. We paid $660 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 70,000 miles. Her company gives her $300/month auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is $33,585.80 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 $48,926.74 at 5.24%.
Credit Card Balance
All of our credit card debt is paid in full each month.
August 2019 Income Statement
In August, we were blessed with a good income month and a low expense compared to what we usually average (see spreadsheet screenshot).
Our total income in August was $12,751.80. In addition to our regular paychecks, I received a monthly bonus of $1,950 gross ($1,084.40 net) and my received $549.55 in auto allowance / mileage reimbursements and $44.99 in internet reimbursements. We earned $0.01 in interest income from our savings accounts.
This month, our expenses totaled $12,465.59. It’s such a blessing to have spent so much less two months in a row! Big ticket items include $834 in boat property tax and $951 in household items.
Next month, my wife should receive a large quarterly bonus that we hope to put into savings.
August 2019 Net Worth Update (-8,254.49)
Overall
August was a rough month for our net worth. Our net worth decreased $8,254.49 from last month to a total of $752,899.14 (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 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 $847.84 to her 401(k). We contribute 10% 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 $579.62 to my 401(k). The total balance of our retirement accounts decreased $7,560.81 from last month to a total of $340,607.97.
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 $16,797.04, down $1,508.06 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 this month, to a total of $2,393.18.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it decreased $802.74 from last month to a total balance of $27,348.30. We contributed $0 to our daughter’s 529 Plan and it decreased $476.50 from last month to a total balance of $16,208.67.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$530K. The current balance of our 15-year, 2.85% mortgage loan is $198,397.34. Our balance is finally below $200,000! We paid $660 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 65,000 miles. Her company gives her $300/month auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is $34,277.47 at 2.79%. We also have a ski boat with a loan balance of $49,131.44 at 5.24%. We paid $0 extra towards our boat loan principal this month.
Credit Card Balance
All of our credit card debt is paid in full each month.