Income Statement

September 2017 Income Statement

September was our 2nd best income month ever (1st best was Feb 2014 $37,327.14).  Our expense were large this month (see spreadsheet screenshot) but pretty reasonable compared to our income.

Our total income in September was $35,641.77.  In addition to our regular paychecks, I received a monthly bonus of $1,250 gross ($703.37 net) and a $450 monthly auto allowance.  My wife my wife received a $37,998.00 gross ($22,833.32 net) quarterly bonus, a $1,337.07 auto allowance / mileage reimbursement and a $44.99 internet reimbursement.  We earned $1.80 in interest income from our savings accounts.

This month, our expenses totalled of $18,217.04.  Big ticket items include $750 in beauty products, $4000 in tithes, and $900 in concert tickets.

Next month should return to a regular income and expense month.

sept 2017 income statement

Net Worth

September 2017 Net Worth Update (+$11,938.96)

sept 2017 net worth

Overall

In September, our net worth increased $11,938.96 from last month to a total of $603,677.34 (see spreadsheet screenshot).  We passed our $600K net worth milestones this month.

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 5% to my wife’s 401(k).  My wife’s new company matches up to 5% of her 401(K) contribution and chips in an additional 5% on top of the match (both 100% vested when deposited in March).  This month, we contribution of $575.00 to her 401(k).  We contribute 5% 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 $235.58 to my 401(k).  The total balance of our retirement accounts increased $5,476.46 from last month to a total of $253,263.68.

Brokerage Account

Currently, our brokerage account consists of three stocks and some BTC, ETH & LTC cryptocurrency (I prefer to track it in the “brokerage account” field rather than “Cash & Savings Accounts”.  The total current value is $2,572.25, up $324.03 from last month.

Cash & Savings Accounts

Cash and savings accounts consists of a small sum of cash at home and our online savings account balance. It does not include our checking account balance that we use to pay our bills each month.  Our cash and savings accounts increased $4,005.14 this month, bringing the total to $15,921.37.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $100 to our son’s 529 Plan and it increased $459.66 from last month to a total balance of $20,103.56.  We contributed $0 to our daughter’s 529 Plan and it increased $184.15 from last month to a total balance of $10,252.06.

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 $238,439.05.  We paid $200 extra towards principal this month.

Cars

My wife’s 2017 SUV has 10,000 miles.  Her company gives her $300/month auto allowance and $0.53/mile reimbursement. The loan balance on my wife’s car is $48,215.07 at 2.79%. I have a 2012 sedan with 84K miles.  My company gives me a $450/month vehicle allowance and provides me with a gas card.  The loan balance on my car is $9,638.79 at 1.99%.

Credit Card Balance

We do not currently have a credit card balance that is not paid in full each month.

Goals

NET WORTH MILESTONE: $600,000

We just passed our net worth milestone of $600,000! We passed our previous net worth milestone of $590,000 last month.

Our net worth is currently $601,487.89.  We’ve averaged a $10K net worth increase every month this year! I will update our chart on the right at the end of the month.  We hope to hit our next net worth goal of $610,000 by … you guessed it, next month.

Feeling blessed!

Income Statement

August 2017 Income Statement

August was another good income month but our expense were high this month (see spreadsheet screenshot).

Our total income in August was $12,053.09.  In addition to our regular paychecks, I received a monthly bonus of $1,416.67 gross ($799.43 net), a $450 monthly auto allowance, and $13.97 reimbursement from my company.  My wife received $570.49 in auto allowance and mileage reimbursement, $44.99 in internet reimbursement her company.  We earned $2.99 in interest income from our savings accounts.

This month, our expenses were exceeded our income.  We spent a total of $12,411.21 in August.  Big ticket items include $1,260 in household items, $287 in auto registration and $798.76 in clothing.

Next month should be a HUGE income month.  My wife’s old company should be paying her a $38K bonus for the last quarter that she worked for them.

 aug 2017 income statement

Net Worth

August 2017 Net Worth Update (+$2,304.61)

August 2017 net worth

Overall

In August, our net worth increased $2,304.61 from last month to a total of $591,738.38 (see spreadsheet screenshot).  We passed our $590K net worth milestones this month.

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 5% to my wife’s 401(k).  My wife’s new company matches up to 5% of her 401(K) contribution and chips in an additional 5% on top of the match (both 100% vested when deposited in March).  This month, we contribution of $575.00 to her 401(k).  We just increased the contribution my 401(k) from 4% to 5%.  My company matches up to 4% of my 401(k) and deposits the match in March (100% vested when deposited).   This month, we contributed $243.91 to my 401(k).  The total balance of our retirement accounts increased $2,304.61 from last month to a total of $247,787.22.

Brokerage Account

Currently, our brokerage account consists of three stocks and some BTC & ETH cryptocurrency (I prefer to track it in the “brokerage account” field rather than “Cash & Savings Accounts”.  The total current value is $2,248.22, up $1,487.10 from last month.

Cash & Savings Accounts

Cash and savings accounts consists of a small sum of cash at home and our online savings account balance. It does not include our checking account balance that we use to pay our bills each month.  Our cash and savings accounts decreased $2,600 this month, bringing the total to $11,916.23.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it increased $50.42 from last month to a total balance of $19,643.90.  We contributed $0 to our daughter’s 529 Plan and it increased $25.90 from last month to a total balance of $10,067.91.

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 $239,851.18.  We paid $200 extra towards principal this month.

Cars

My wife’s 2017 SUV has 7,000 miles.  Her new company gives her $300/month and $0.53/mile reimbursement. The loan balance on my wife’s car is $48,812.31 at 2.79%. I have a 2012 sedan with 82K miles.  My company gives me a $450/month vehicle allowance and provides me with a gas card.  The loan balance on my car is $9,824.57 at 1.99%.

Credit Card Balance

We do not currently have a credit card balance that is not paid in full each month.

Goals

NET WORTH MILESTONE: $590,000

1 Comment

We just passed our net worth milestone of $590,000! What a blessing this year has been! We passed our previous net worth milestone of $580,000 last month.

Our net worth is currently $590,664.99.  I will update our chart on the right at the end of the month.  We hope to hit our next net worth goal of $600,000 by October.

Income Statement

July 2017 Income Statement

July was a really good income month but a crazy expense month (see spreadsheet screenshot).

Our total income in July was $13,450.39.  In addition to our two regular paychecks, I received a bonus (monthly and quarterly combined) of $4,482.97 gross ($2,56063 net).  We also got a $450 monthly auto allowance from my company, $66.95 mileage reimbursement and $44.99 in internet reimbursement from my wife’s company.  We earned $2.31 in interest income from our savings account.

This month, our expenses were exceeded our income (thank God last month was an awesome income month).   We spent a total of $16,394.01 in July.  Big ticket items include $2,000 extra in mortgage payments, $1,400 in tithe, and $1,776.81 in household items.

Next month should be a good income month.  In addition to our regular paychecks, I should will receive around $1,600 gross in monthly bonuses.

July 2018 income statement

Net Worth

July 2017 Net Worth Update (+$11,727.10)

July 2017 net worth

Overall

2017 has been a great year for our net worth.  In July, our net worth increased $11,727.10 from last month to a total of $589,433.77 (see spreadsheet screenshot).  We passed our $580K net worth milestones this month.

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 5% to my wife’s 401(k).  She just started her new and her 401(k) kicked in her second check this month, resulting in a contribution of $287.50 to her 401(k).  We contribute 4% to my 401(k).  My company matches up to 4% of my 401(k) and deposits the match in March (100% vested when deposited).   This month, I contributed $317.79 to my 401(k).  The total balance of our retirement accounts increased $6,808.02 from last month to a total of $245,910.85.

Brokerage Account

Currently, our brokerage account consists of two stocks and a small cash balance.  The total current value of the stocks and cash is $761.12.

Cash & Savings Accounts

Cash and savings accounts consists of a small sum of cash at home and our online savings account balance. It does not include our checking account balance that we use to pay our bills each month.  Our cash and savings accounts increased $802.64 this month, bringing the total to $14,516.23.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it increased $336.12 from last month to a total balance of $19,593.48.  We contributed $50 to our daughter’s 529 Plan and it increased $222.70 from last month to a total balance of $10,042.01.

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 $241,259.93.  We paid $2,000 extra towards principal this month.

Cars

My wife’s 2017 SUV has 7,000 miles.  Her new company gives her $300/month and $0.53/mile reimbursement. The loan balance on my wife’s car is $49,389.73 at 2.79%. I have a 2012 sedan with 82K miles.  My company gives me a $450/month vehicle allowance and provides me with a gas card.  The loan balance on my car is $10,015.98 at 1.99%.

Credit Card Balance

We do not currently have a credit card balance that is not paid in full each month.

Income Statement

June 2017 Income Statement

June was a great income month and a relatively low expense month (see spreadsheet screenshot).

Our total income in May was $22,808.39, our 5th highest income month since I began tracking in March 2007.  In addition to our two regular paychecks, my wife and I received a third “extra” paycheck, and my wife received a paycheck for one week at her new job.  My wife received a $12,500 gross ($8,307.18 net) signing bonus for her new company and I received a monthly bonus of $1,541.67 gross ($880.51 net).  With my wife departure this month from her old company, they cashed out her vacation to the tune of $2,645.34 gross ($1,497.55 net).  We also got a $450 monthly auto allowance from my company, $46.99 in internet reimbursement from my wife’s company, and $100 in rebates for a new pool pump.  We earned $3.95 in interest income from our savings account.

This month, our expenses were dramatically lower than our income.  We spent a total of $10,272.53 in June.  Big ticket items include $570 in gym membership and gear, $604 in eating out, and $502 in clothing.

Next month will be another great income month.  It will be my wife’s first full month at her new job.  In addition to her higher salary, she will receive a $2,500/month guaranteed bonus the first two months.  In July, I will receive around $2,000 gross in monthly bonuses and another $2,500 for my quarterly bonus.

June 2017 income statement

Goals

NET WORTH MILESTONE: $580,000

1 Comment

We just passed our net worth milestone of $580,000!  This is primarily due to a $12,500 (gross) signing bonus that my wife received for her new job.  We passed our previous net worth milestone of $570,000 last month.

Our net worth is currently $581,054.24.  I will update our chart on the right at the end of the month.  We hope to hit our next net worth goal of $590,000 by August.

Our path to financial independence and retiring early.