Overall

In May, our net worth increased $2,867.96 from last month to a total of $1,413,568.22 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 7% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  This month, she contributed $1,150.52 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts increased $1,475.33 from last month to a total of $529,852.00.

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $182,531.97, down $13,290.04 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance. It does not include our checking account balance that we use to pay our bills each month.  Thanks to selling our ski boat, our savings increased $46,599.19 this month to a total of $53,312.89  

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $1,750 to our son’s 529 Plan and it increased $2,306.18 from last month to a total balance of $53,700.84.  We contributed $1,750 to our daughter’s 529 Plan and it increased $2,134.38 from last month to a total balance of $36,720.67. Our total 2023 contributions so far are $3,000 for our son and $3,000 for our daughter.  We hit our goal for the year!

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$865K.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~93K miles) that we own and it is paid off.  We sold our 2013 ski boat this month for $65,000.

Credit Card Balance

All of our credit card debt is paid in full each month.

April 2023 Net Worth Update (+26,160.46)

Overall

In April, our net worth increased $26,160.46 from last month to a total of $1,410,700.25 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 7% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  This month, she contributed $1,150.52 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts increased $13,855.18 from last month to a total of $528,376.67.

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $195,822.01, up $12,270.44 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, 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 $2,797.54 this month to a total of $6,713.71  

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $500 to our son’s 529 Plan and it increased $1,994.55 from last month to a total balance of $51,394.66.  We contributed $500 to our daughter’s 529 Plan and it increased $1,502.56 from last month to a total balance of $34,586.29. Our total 2023 contributions so far are $1,250 for our son and $1,250 for our daughter.

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$840K.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~93K miles) that we own and it is paid off.  In addition, we own a 2013 ski boat that is paid off.

Credit Card Balance

All of our credit card debt is paid in full each month.

Overall

In March, our net worth increased $53,714.63 from last month to a total of $1,384,539.79 (see spreadsheet screenshot). 

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 7% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  They just did her annual “chip in” match of $6,129.41 (vests over 3 years).  This month, she contributed $1,724.27 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts increased $28,246.53 from last month to a total of $514,521.49.

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $183,551.57, up $27,095.44 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, our online savings accounts balance. It does not include our checking account balance that we use to pay our bills each month.  We had to pay a $4,300 property tax bill so our savings decreased $2,547.44 this month to a total of $9,511.25.  

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $250 to our son’s 529 Plan and it increased $1,309.28 from last month to a total balance of $49,400.11.  We contributed $250 to our daughter’s 529 Plan and it increased $960.46 from last month to a total balance of $33,083.73. Our total 2023 contributions so far are $750 for our son and $750 for our daughter.

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$840K.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~90K miles) that we own and it is paid off.  In addition, we own a 2013 ski boat that is paid off.

Credit Card Balance

All of our credit card debt is paid in full each month.

Overall

February was a down month financially. Our net worth decreased $11,914.13 from last month to a total of $1,330,825.16 (see spreadsheet screenshot).  Pretty much all of our investments lost a little value in February.

Retirement Accounts

Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contributed 6% to my wife’s 401(k) and her company matched 4% and chips in an additional 6% at the end of the year.  This month, she contributed $950.00 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts decreased $5,806.99 from last month to a total of $486,274.96.

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $156,456.13, down $5,037.77 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, 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 $705.17 this month to a total of $12,058.69.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $250 to our son’s 529 Plan and it decreased $732.16 from last month to a total balance of $48,090.83.  We contributed $250 to our daughter’s 529 Plan and it decreased $357.31 from last month to a total balance of $32,123.27. Our total 2023 contributions so far are $500 for our son and $500 for our daughter.

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$840K.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~90K miles) that we own and it is paid off.  In addition, we own a 2013 ski boat that is paid off.

Credit Card Balance

All of our credit card debt is paid in full each month.

Overall

January was a great start to the new year!  Our net worth increased $99,486.40 from last month to a total of $1,342,739.29 (see spreadsheet screenshot).  Our cryptocurrency investments were the biggest boost to our net worth this month.

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) and her company matched 4% and chips in an additional 6% at the end of the year.  This month, she contributed $950.00 to her 401(k).  Since I do not work, I did not contribute anything to a retirement account.  The total balance of our retirement accounts increased $43,196.98 from last month to a total of $492,081.95.

Brokerage Account

Currently, our brokerage accounts consist of stocks and cryptocurrency (I prefer to track crypto in the “Brokerage Accounts” field rather than “Cash & Savings Accounts”).  The total current value of our brokerage accounts is $161,493.90, up $50,612.69 from last month.

Cash & Savings Account

Cash and savings accounts consist of a small sum of cash at home, 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 $1,000 this month to a total of $11,353.52.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $250 to our son’s 529 Plan and it increased $2,788.71 from last month to a total balance of $48,822.99.  We contributed $250 to our daughter’s 529 Plan and it increased $1,888.02 from last month to a total balance of $32,480.58. Our total 2023 contributions so far are $250 for our son and $250 for our daughter.

Home                                                      

For our home value, we use the $528K purchase price that we paid in July 2016.  Current comps in the area are ~$840K.  We paid off our home in September 2021.

Vehicles

My wife drives a company vehicle and has a company gas card.  I drive a 2017 SUV (~90K miles) that we own and it is paid off.  In addition, we own a 2013 ski boat that is paid off.

Credit Card Balance

All of our credit card debt is paid in full each month.

2023 is underway and we have set our financial goals for the year.  We fell short of all but one of our 2022 goals and the economic outlook does not seem to be improving.  Because of that, we set pretty conservative financial goals for 2023. Below are our new financial goals for the coming year.

1) Pass our 2028 Net Worth Goal

We started 2022 with a net worth of $1,243,252, 5 years ahead the net worth goal schedule. We would like to maintain this lead and end 2023 with a net worth over $1,320K (our 2028 net worth goal).  If the economy continues to struggle, this goal might be hard to hit.

2) Give $4,500 to church

We would like to continue to support our church and have set a goal of giving $4,500 in 2023.  This was the only goal that we hit in 2022 so let’s hope we can do it again.

3) Contribute $6,000 to 529 Plans ($3,000 for each child)

We want to contribute $6,000 total to our kids’ 529 Plans ($3,000 for each child) in 2023. We fell a bit short of this goal last year.  Our son is currently 11 years old with a 529 Plan balance of $46,034 and our daughter is 8 years old with a 529 Plan balance of $30,592.

4) Building savings account balance to $15,000

We ended 2022 with $10,353 in savings, well short of $30,000 goal for last year.  We lowered the bar and are shooting for $15,000 in savings by the end of 2023.  That might be tough considering we have a large tax bill again this year from selling some cryptocurrency.

5) Sell our boat

We bought a ski boat six years ago and have enjoyed spending time as a family on the lake, however, we only used our boat one time last season and really didn’t miss it.  That got us thinking that we might want to sell it, if the price is right.  We listed our boat for $70K on a few websites to test the waters.