Another good month for the markets in Feb! And almost back to where we were in September when it last peaked! Only $24,135.31 to go for us to get back there, haha, how about you?
Here’s a fun snapshot of how it’s gone for us the past few months… Something tells me this is just the beginning of what’s to come ;)
In other news, we finally wrapped up our taxes for the year and had two little surprises!
- Surprise #1: we’ll be getting back a refund of almost $5,000 this year! Woo!
- Surprise #2: all that $5,000 will be wiped away as we caught an error in last year’s return and had to re-file and pay back taxes, womp womp…
So pretty much we’re Even Steven, which I guess is worse than being in the hole? ;)
How’d you guys do? Or you still pushing it off because it’s annoying as BALLS to file??
On the plus side, we found out we can max out our SEP IRA this year on up to $14,000 and some change, so I very happily moved some of our surplus cash into it which is why you’ll see a sharp jump in that section of our worth, and a scary red number in the savings one ;)
Other than that, it was a pretty low key month!
Here’s How February’s Numbers Went Down:
[NOTE: This is part of our Net Worth Series where we show a real-life snapshot of money (my money!) in hopes it helps put more perspective around this stuff… Some months we’re up and others we’re down (way down!), but it all gets displayed here – the goods and the bads – and then we discuss whatever you’d like in the comments section :) Here’s Net Worth Report #133!]
CASH SAVINGS (-$11,974.78): BOOM!!! RUN FOR THE HILLS!!! Haha… A big drop, but as mentioned above due to maxing out our SEP IRA for the year which we do in one clump instead of monthly, since it’s tied to business profits and I never know exactly how much we’ll have to play with ’til the end. Not preferable, but it saves me from making another mistake again.
THRIFT SAVINGS PLAN (TSP) ($1,050.97): Nothing too wild going on here, but it is a little bit lower than usual I think due to my wife’s new job switch and contributions/benefits getting a bit wonky. But so long as her *paychecks* don’t get wonky again (*ahem* gov’t shutdown), we’ll happily bide our time and let the system catch up as it will :)
BROKERAGE ($1,817.77): Another sweet bump here, but nothing out of our own doing as we kinda just plopped the initial $50k in it last year to diversify more from all our retirement accounts. Probably won’t add anything new in it for a while unless we get an unexpected windfall or something.
ROTH IRAs (+$4,841.07): Same deal with these bad boys – nothing new added, although we do have to decide now if we want to max out for the year or not? We typically push ourselves to do it, however my wife hit me with a doozie over the weekend and now I’m not sure what’s up or down or all around, haha.. More info on that as soon as I can wrap my head around it, but needless to say it’ll have a pretty big impact on our finances if we end up going through with it ;)
SEP IRA (+$33,486.69): The best part of the month! Where we threw in an extra $14,317 to the pot and maxed out our contributions for the tax year – woo!! I wish it was done when everything was crashing around us so we could scoop it up on discount, haha, but hey – that’s exactly why I never try to time the market – I fail every time! ;)
Here’s a snapshot on how our investments (VTSAX) has fared over the years since moving to indexing with Vanguard… Check out that return rate!
CAR VALUES (+$111.00): And lastly, we have the cars… which for the first time in a number of years actually went UP in value! Haha… Who knows why that happens when it does (maybe people are collecting beat up Toyotas now?!), however in the spirit of continuity we’ll let it be as that’s what we’d be relying on if we were to go out and try to sell them today… Which we’re not, but one day!
Per Kelly Blue Book:
- 2008 Lexus RX350: $7,254.00 (paid off)
- 2005 Toyota Corolla: $2,485.00 (paid off)
And that’s February! Total change in net worth: (+) $29,332.73
Oh, and last but not least – our cute little babies’ net worths… because lil’ ones need money too! ;)
As you can see, we don’t discriminate between baby toys ;) What baby wants, baby gets! (So long as it keeps him happy for a hot minute while daddy churns out these blog posts!!)
Your turn! What did your money do last month??? Anyone hit their first $10,000?? $100,000??? Anyone pay off all their debts and are running around in their underwear right now screaming their heads off in excitement??
That’s a scene I’d much rather watch than a boring ol’ Dave Ramsey yell ;) Hey Dave!! Why don’t you spice it up every now and then and let people flash some skin! You can call it the “Debt-free, and Clothes-free, scream!” It’s all about baring it all, right???
And I’ll stop there, haha…
Questions/comments/concerns (except for the nudity stuff), share below and we shall discuss!
Your friend in money,
PS: If you’re just getting started in your journey, here are a few good resources to help track your money. Doesn’t matter which route you go, just that it ends up sticking!
- The "Budget/Net Worth" spreadsheet - the colorful Excel template I personally use.
- The "Money Snapshot" spreadsheet - a simple Excel template I created for my former $$$ clients
If you're not a spreadsheet guy like me and prefer something more automated (which is fine, whatever gets you to take action!), you can try your hand with a free Personal Capital account instead.
Personal Capital is a cool tool that connects with your bank & investment accounts to give you an automated way to track your net worth. You'll get a crystal clear picture of how your spending and investments affect your financial goals (early retirement?), and it's super easy to use.
It only takes a couple minutes to set up and you can grab your free account here. They also do a lot of other cool stuff as well which my early retired friend Justin covers in our full review of Personal Capital - check it out here: Why I Use Personal Capital Almost Every Single Day.
(There's also Mint.com too btw which is also free and automated, but its more focused on day-to-day budgeting rather than long-term net worth building)
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!