July was a full speed ahead month, all numbers moving in the right direction thanks to a record breaking stock exchange.
After a successful vacation and paying all the summer property taxes, it should be fairly smooth sailing until the end of the year.
Total Assets: $2,039,394 up + $ 18,699 from last month.
Accounts receivable, This is a business deal from 2014
Boat & Cars, Depreciating assets, but cars newish in 2015
Real Estate 2nd home/vacation rental
Retirement accounts; 2 people, 2 jobs each, 5 accounts total
Brokerage accounts; 2 taxable stock accounts
College Funds; Prepaid tuition and 529 accounts or 2 kids
Bonds; ‘I bonds’ bought through Treasury Direct
Cash & Metals; 6 accounts and a security deposit box
Health Savings Acct., Just started in 2015
Total Liabilities; $441,857 down – $1,105 from last month.
Mortgage on House; Bought in 2005 Interest 3.75%
Mortgage 2nd Home; Bought in 2012 Interest 3.5%
Student Loan Starting to realize this is finally over.
HELOC; Current APR 3.49%
TOTAL NET WORTH $1,597,537
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.
You are killing it. With that net worth you could easily choose to be debt free. What is your FI number or have you already hit it?
My FI would be about 1.75 in investments, I am a little over halfway there. I am not in a hurry to pay off the house b/c I will sell it in retirement and live at the cottage. Biggest thing holding off everything is having 7 and 11 year old kids still in the house.
Your presentation of your net worth is very attractive. Did you design this or are you using a third party such as Personal Capital?
They are just generic graphs from Excel and I adjust them accordingly every month.
Awesome update! I love that the only debt you have is related to income generating RE assets. That’s the way to go! Thanks for sharing and keep it up!
Awesome numbers, you’re definitely up there. Curious, why are you carrying so much cash?
Over 50k of that is in fixed accounts that are at 3.5%. I started them before rates went down and since I can’t get returns like that nowadays(at least in cash) I leave them alone. Also, I have been wanting to buy a rental property for 3 years now, cash is waiting in the wings for a down payment.
Wow $83.6K in cash? 😛 That’s very conservative =) That said, congrats on your net worth! $1.598MM is fantastic!!