I feel like I’m stumbling into Money Left and Right.
When it’s a Bull Market, it’s ‘I get to check my net worth every month‘ It is exciting. I am pulling in a good salary’s worth of growth each month!
I was ashamed, for about 30 seconds, about my delving into Crypto, but the numbers do not lie – as you will see below!
May ’21 Net Worth equals total Assets minus total Liabilities.
Total Assets: $3,084,284 + $ 73,745 from last month. Last Month was also up over $70k -JEESH!
Accounts receivable, This is a floundering business deal from 2014
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
Starting Tracking the Growth of my Cryptocurrency
I was reluctant for a very long time to enter the realm of speculative growth in crypto. But alas I always did keep up on the tech and zeitgeist. Now felt like the time to start and then BOOM, just like tattoos, they are addictive. I fell all the way in.
Health Savings Account, Started in 2015
Total Liabilities; $448,969 down – $11,645 from last month. I made a big payment to ZERO out my HELOC again.
Mortgage on House; Bought in 2005 Interest 3.75%
Mortgage 2nd Home; Bought in 2012 Interest 3.5%
Mortgage on Rental Property; Bought in 2020 Interest at 4.75%
Student Loan Paid off!
HELOC; Current APR 3.49%
May ’21 NET WORTH; $2,635,315
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.