Oh it is my favorite time of the year. Not only because of Fall and Halloween, but also because of my yearly update to our Historic Net Worth Charts.
October of each year is the time we declare our fiscal gains (or losses) for the year. This time around we are up + $183,172
After a ‘MERIT-BASED’ raise in September, the wife’s paycheck has shot up to a new personal family record. Check out her check.
My first FinCon was great! I was able to put a bunch of faces to the names that float around all day on my computer screen. There will be a post about the whole experience, but it is not quite ready yet.
I even went ahead and bought a ticket to next year’s FinCon in D.C. It really does recharge the old blogging batteries. I now think I have enough posts in the hopper to guarantee I make it to the start of year 3!
I also added some more gold to The HOARD. Probably done for awhile on this front.
October Net Worth equals total Assets minus total Liabilities.
Total Assets: $2,209,010 up + $ 5,617 from last month.
Accounts receivable, This is a floundering 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, 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 Acct., Started in 2015
Total Liabilities; $400,447 down – $ 1,109 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 HALLOWEEN NET WORTH $1,808,563
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.