Overall

January was another rough month for our net worth.  Our net worth decreased $202,030.92 from last month to a total of $1,557,030.17 (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, she contributed $911.10 to her 401(k).  Since I am unemployed, I did not contribute anything to my retirement accounts.  The total balance of our retirement accounts decreased $89,247.84 from last month to a total of $548,866.59.  

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 of our brokerage accounts is $253,547.52, down $144,196.28 from last month.

Cash & Savings Account

Cash and savings accounts consists of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings increased $37,604.17 this month to a total of $64,687.80.   

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it decreased $3,272.14 from last month to a total balance of $50,071.17.  We contributed $0 to our daughter’s 529 Plan and it decreased $2,126.77 from last month to a total balance of $32,544.39. Our total 2022 contributions so far are $0 for our son and $0 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 ~$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 (~85K miles) that we own that is paid off.  In addition, we own a 2013 ski boat that is paid off.

New Vehicle Fund

Our new car fund is intended to cover future vehicles for our family.  Contributions are invested in cryptocurrencies. We track these crypto investments separately for our others (see brokerage account above). This month, we contributed $0 to our new car fund and it decreased $19.86 from last month to a total of $2,864.47.  Our total 2022 contributions so far are $700.

Credit Card Balance

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

Happy New Year! Wow, it’s already 2022. We were blessed to have had good success with our financial goals for 2021.  Now let’s see if we can do it again in 2022!  Below are our new financial goals for the coming year.

1) Pass our 2032 Net Worth Goal
We ended 2021 with a net worth of $1,759,061, 10 years ahead the net worth goal schedule. We would like to maintain this lead and end 2022 with a net worth over $1,900K (our 2032 net worth goal).

2) Give to church
We recently started attending a new church that is closer to our home.  It was sad to separate from our old church but we really wanted to find a church closer to our home.  We hope to do our part to support the church by giving $4,000 in 2022.

3) Contribute $6,000 to 529 Plans ($3,000 for each child)
As I’ve mentioned before, this is one of our top goals each year.  Now that our mortgage is paid off, we want to contribute more to our kid’s 529 Plans.  In 2022, we plan to contribute $3,000 for each of our two kids.  Our son is currently 10-years-old with a 529 Plan balance of $53,343.31 and our daughter is 7-years-old with a 529 Plan balance of $34,671.16.

4) Contribute $3,000 to new car fund
At the end of 2021, we decided to start a new car fund to save for the cars our kids will need in a few years and eventually a new car for us when the time comes. Our 10-year-old will likely be the first family member to tap into this fund and our intent would be to purchase a reliable, safe used vehicle for him after he turns sixteen. We intend to invest the funds in cryptocurrencies and cash.  We already have $2,884.33 in the new car fund and aim to contribute another $3,000 in 2022.

5) Building savings account balance to $30,000
We ended 2021 with $27,083 in savings and hoped get to $30,000 in savings by the end of 2022.  This might be really tough because we have will have a big income tax bill this year.

Overall

December was a rough month for our net worth.  Our net worth decreased $143,934.43 from last month to a total of $1,759,061.09 (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, she contributed $911.10 to her 401(k).  Since I am unemployed, I did not contribute anything to my retirement accounts.  The total balance of our retirement accounts decreased $21,425.02 from last month to a total of $638,114.43  

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 of our brokerage accounts is $397,743.80, down $125,728.20 from last month.

Cash & Savings Account

Cash and savings accounts consists of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings increased $1,387.20 this month to a total of $27,083.63.   

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it increased $1,539.39 from last month to a total balance of $53,343.31.  We contributed $0 to our daughter’s 529 Plan and it increased $1,000.55 from last month to a total balance of $34,671.16. Total 2021 contributions are $3,950 for our son and $3,990 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 ~$850K.  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 (~85K miles) that we own that is paid off.  In addition, we own a 2013 ski boat that is paid off.

New Vehicle Fund

Our new car fund is intended to cover future vehicles for our family.  Contributions are invested in cryptocurrencies. We track these crypto investments separately for our others (see brokerage account above). This month, our new car fund decreased $680.02 from last month to a total of $2,884.33.

Credit Card Balance

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

Overall

November was basically a neutral month for our net worth.  Our net worth decreased $857.05 from last month to a total of $1,903,747.19 (see spreadsheet screenshot).  We passed our net worth milestones of $1,910K to $1,930K this month but fell back below later in the month.

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, she contributed $1,798.14 to her 401(k).  Since I am unemployed, I did not contribute anything to my retirement accounts.  The total balance of our retirement accounts decreased $17,542.24 from last month to a total of $659,539.45.  

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 of our brokerage accounts is $523,472.00, up $86,465.99 from last month.

Cash & Savings Account

Cash and savings accounts consists of a small sum of cash at home, our online savings accounts balance and stablecoins that we earn interest on. It does not include our checking account balance that we use to pay our bills each month.  Our savings decreased $68,921.27 this month to a total of $25,696.43.   We pulled a large sum out to do a short term investment in cyptocurrencies.  We plan to replenish our savings when we sell in a couple of months or so.

College Savings Accounts

Our kids have 529 Plans through Vanguard.  This month, we contributed $0 to our son’s 529 Plan and it decreased $66.93 from last month to a total balance of $51,803.92.  We contributed $0 to our daughter’s 529 Plan and it decreased $43.51 from last month to a total balance of $33,670.61. Total 2021 contributions thus far are $3,950 for our son and $3,990 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 (~85K miles) that we own.  In addition, we own a 2013 ski boat.

New Vehicle Fund

Our new car fund is intended to cover future vehicles for our family.  Contributions are invested in cryptocurrencies. We track these crypto investments separately for our others (see brokerage account above). This month, our new car fund increased $38.79 from last month to a total of $3,564.35.

Credit Card Balance

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