I haven’t been this excited to do a net worth update in a very long time. I received a good amount of money this month so I used it to kill off some debt and save some cash. In reality the amount received wasn’t enough to push my net worth in a crazy direction either way, but it was enough to clean up some balance sheet items so I am very pumped.
Thoughts Before Calculating: I am going to be up this morning but not sure just how much. The broad market has taken a nasty beating in the past few weeks so my larger broad based accounts should also have taken a beating.
Calculating my Net Worth
My Family’s Assets
While I have several asset categories, I don’t think they are particularly complicated.
Cash
Cash Equivalents – Currently, my cash equivalents is simply my emergency fund. I am currently wayyyyy underfunded as it relates to the amount of cash I would like on hand in case of an emergency or job loss. I was able to put some away in cash reserves, but I am still so underfunded.
Real Estate Holdings
Main Residence – Exactly what it sounds like! My Family’s home. Nothing exciting or changing any time soon. Literally talking to The Wife about finishing our basement before writing this post. My guess is that it will get done sooner rather than later. I have cash partitioned for it, but will still need to finance some of it.
Rental Property – Every month I update a spreadsheet I keep for the minority owners of my rental property. I have been dealing with some really big headaches with this property due to the basement not having a CO. Well, I am finally seeing light at the end of the tunnel. In addtion, this month I updated my cash flow going back 6 months which has taken a lot of stress off of me.
Retirement Accounts
My 401(k) – I have complained about my 401(k) for years. It is/was made up of terrible investment options with ridiculous fees, but I get a match so I always had to participate. I recently sat with my HR Department and it looks like we are getting some updated options! Still waiting on these changes!
My Traditional IRA – I reviewed and updated the account last year. Probably ignoring it for 2025.
The Wife’s Roth IRA – I reviewed and updated the account last year. Probably ignoring it for 2025.
The Wife’s SEP IRA – Probably ignoring it for 2025.
Non-Qualified Accounts
My Trading Account – This one account houses both where I invest in my dividend growth companies and risky speculative option trades. For the past 7 or 8 months I have been dealing with some (read: shit ton) of stock that was assigned to me. I need to take some time to write it all down.
Wife’s Disney Stock – The Wife has owned Disney stock for decades from her parents. We have used some of this money over the years, but for the most part, I just ignore it. I am not even sure The Wife knows it still exists. We talked about it tonight when we were discussing how to build out the basement.
Alternative Investments
Crypto Currency – This account was basically started for FOMO purposes. It is a shitty reason, but it is mine nonetheless. I don’t pay much attention to the crypto market and will probably continue to ignore the account.
Life Insurance Cash Surrender Value – As described I own a number of permanent, cash value whole life insurance policies. Since the cash is accessible I include it in my net worth statement. This money is also accessible via a loan against the cash value.
Physical Gold – A few years back I decided to start buying physical gold, I am hoping one day to be that crazy guy with a stack of gold I can swim through, but I haven’t bought some in so long. Last month I wrote “I have to change that in March” well, I did it! I started a monthly gold purchase plan!
Currently, I do not include my investment club in my net worth.
My Family’s Debt
I have organized my debt into tiers. Tier 1 is consumer debt. Like I had mentioned I made a hell of a dent in that category last month! Tier 2 is longer term debt that I’d like to be paid off but if it takes a while I simply don’t care (boat loan, solar loan, whole life loan). Lastly, Tier 3 debt is mortgage debt. I can’t imagine attacking this without a very good reason.
My Net Worth Change
- Month over Month my family’s net worth increased about 2.4%
- Year to Date we are under that increasing by only about 1.5%
Last month, I wrote “I am hoping March is a bit more exciting (in a good way) – I should be getting my bonus that I am excited to kill off some debt.” Well it happened and I was very happy we’ll see if I can keep the momentum going.