Does our 2020 First Net worth really deserve a Full blown ‘BooYah‘?
Absolutely. Up over $39,000 for the month.
What a strong end of the year. Very Happy. I am also slated to buy my first rental property by March 1st. I am hoarding up cash to instantly pay back the $34,000 I will need at closing.
First of the years raises should be reflected soon in an update to ‘Paychecks’.
Jamaica was great, at some point I will surely do a write up for the ‘Travel Log‘.
2020 First Net Worth Recap equals total Assets minus total Liabilities.
Total Assets: $2,445,147 + $ 39,646 from last month.
Accounts receivable, This is a floundering business deal from 2014
Boat & Cars, Depreciating assets, but sell-able if need be
Real Estate 2nd home/vacation rental
Retirement accounts; 2 people, 4 accounts total
Brokerage account; Dividend Portfolio
College Funds; Prepaid tuition and 529 accounts or 2 kids
Bonds; ‘I bonds’ bought through Treasury Direct
Cash & Metals; 4 accounts and a security deposit box
Health Savings Account, Started in 2015
Total Liabilities; $383,264 down – $ 495 from last month.
Mortgage on House; Bought in 2005 Interest 3.75%
Mortgage 2nd Home; Bought in 2012 Interest 3.5%
Student Loan Paid off!
HELOC; Current APR 3.49%
TOTAL 2020 FIRST NET WORTH; $2,061,883.00
Tracking your own net worth is perhaps the second most important thing you can do to improve your financial picture. Budgeting your expenses to see where the money goes is probably still number one.
Budgeting is like paying attention to ball game while tracking net worth is like paying attention to the baseball season.
Months can goes up or down, you need a longer picture to evaluate your progress. You are either bringing in more money than you’re spending or you are losing money each month. Tracking Net Worth is easy, useful, and addictive.