This is the last NET WORTH update of the calendar year 2018. If it wasn’t for new dollars going into retirement accounts, I think 2018 was a gain/loss WASH.
But don’t forget that I evaluate the year on a fiscal calendar that goes from October to October, so we are still UP!
I kinda like this time of year because I start thinking about my taxes. Accumulating and organizing taxes was what I did with my FIRE brain before I realized that I could fuss about Personal Finance. PF really scratched that itch. FIRE turned it into a full blown hobby.
My empire still lost money this month, but the hemorrhaging of the last month or two has slowed at least.
Soon all of the mutual funds tucked away in various accounts will bloom with year end payouts and we will see the ship stop listing so hard to port.
The ‘I guess I love my kids‘ Christmas penalty will be hitting especially hard this year. Tough to not spoil well behaved 12 and 8 year olds who are doing well in school and have not started any fires recently.
I am one of those rare employees with ‘too much’ time off at the end of the year so I will be away from work for a week or two at the end of the year. Have not decided whether that will have me blogging more or less than normal.
Happy Holidays y’all!
Last Net Worth of 2018 equals total Assets minus total Liabilities.
Total Assets: $2,168,549 down – $ 2,637 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; $398,331 down – $ 1,641.00 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 LAST NET WORTH OF 2018; $1,770,218
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.