[This is part of our monthly Net Worth Series where I share our real life #’s with the world. Seeing this was GAME CHANGING for me over 9 years ago when I stumbled across financial blogs, so hopefully it helps you out too!]]
Hey hey! Welcome to our 110th net worth update in a row – the longest streak of anything in my life :) (Maybe outside breathing).
I swear every month I promise myself I’m going to spruce it up a bit and add all sorts of bells and whistles to the snapshot (credit score, early retirement date, my made up Lifetime Wealth Ratio™!) but each time I just end up keeping it O.G. and the simplicity continues forward…
It’s pretty wild though that the spreadsheet can look exactly the same all these years, however the contents inside can paint two drastically different pictures! And even crazier that the only thing that really ever changes is the boring passage of time! You make a $500 deposit 10 years ago and it’s $500. You fast forward a decade and it’s all of a sudden $1,500.
Gotta love the power of compounding :)
Anywho, here’s how the month of February went down…
CASH SAVINGS (-$16.54): Nothing too exciting going on here, other than not playing inside the financially prudent line this month… I’d blame it on some outstanding checks waiting to be delivered, but it’s probably more due to not tracking every last penny like I used to ;) 95% of my spending is “mindful spending” and the rest tends to go either way depending on the month. Sometimes I do good and other times I slip up. But so far it’s been worth the trade off.
BROKERAGE (+$45.05): Nothing new going on here either. Just a few extra dollars thrown in via my trusty Acorns app, mixed with a little (a lot?) market growth this month. I still cannot understand for the LIFE of me how it continues to blow up w/ all the political turmoil going on, but I do my best to ignore it all anyways so not like it really affects the game plan here. What I should be doing is storing up all my nuts and laying low until it all crashes to then scoop it all up! NOM NOM NOM!!!
THRIFT SAVINGS PLAN (TSP) (+$695.71): This area is still my recent favorite with those epic % increases every month now that my wife is back in the workforce again :) I feel bad for her since her job is all kinds of messy right now due to the aforementioned landscape (she works for the gov’t), but investment-wise the money continues to flow in so we’ll grab it all while we can. Just praying that her fear of being let go at any time doesn’t come to fruition :(
ROTH IRAs (+$4,157.99): Great boost here too! Courtesy of the markets doing its thing lately. The end date’s coming up for being able to max it out for the 2016 year – which we still need to do – but like always I’ll probably wait until the last minute to push it through just to drag on the excitement of it all ;) I think this will be year #6 or #7 in a row of doing so?
SEP IRA (+$16,071.98): Sweet one here too! As soon as I catch up with my accountant this month we’ll be maxing this one out as well in one fell swoop. I prefer to do it incrementally over the months like with regular 9-5s, but my income continues to be as wild as ever being self-employed and I literally never know how much – big or small – I can put in until the business year wraps up (it’s measured by the amount of profit your business brings in). Still, similar to the rush of the Roth maxing, it’s always fun to throw in large clumps every year :)
Here’s a snapshot of our Vanguard account since switching over to indexing a few years ago:
CAR VALUES (-$641.00): Nothing too shocking here. Just cars doing what cars do! Don’t let anyone ever tell you they’re an investment ;) Here’s what KBB says our two rides are worth:
- Lexus RX350: $12,401.00
- Toyota Corolla: $3,814.00
CAR LOAN: (-$464.29): A little more chopped down, per usual. I started thinking more about when I’ll for real just kill it all in the future, and the time that keeps popping up is at the end of the year. No real rhyme or reason to it (like I mentioned before, I’m in no rush as I enjoy having the cash cushion!), but just for simplicity sake it would be nice to have one less account to manage every month. We’ll see how it plays out though – the interest is only like 2-something %.
And that’s Feb!
Here’s how the last 12 months have gone down:
[If you’re wondering what happened in December, read this :)]
And then here’s the worths of my two beautiful boys – hah:
I’ve been a bad dad and haven’t put much into their accounts lately, so at some point I’ll need to get back to it again… I feel like all they actually care about though is spending time together and playing all day? When will they learn money is everything!!! ;)
Hope your financial journey’s going well so far! How long have you been tracking your net worth for? Cross any juicy milestones lately?
As always, you can find all 100+ of our net worth updates over the years here if you want to see how we went from point A to point B – though no magic bullets or anything of course.
Or if you’re finally bored with our finances (and I wouldn’t blame you – there’s nothing special going on!), head over to our new and improved Blogger Net Worth Tracker over at our new Blog Directory as we’re tracking over 200 others’ money. You’re bound to find some new ones to relate to and be inspired by? Look up for the ones to strive for, and down any time you need a reality check of appreciation!
Here’s to a prosperous March! You still doing your New Years Resolutions?? ;)
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!