With another month in the books it is time to calculate my net worth and share my results with, well myself. While I have my net worth history for years if not about a decade I decided that when I started “Accumulating Assets” that I would share the growth or decline ($) from the inception of the site assuming my net worth was $0 on November 1, 2020.
Feelings before calculating my net worth: Before I even open the spreadsheet I am almost positive that this is going to be a great month. The market hit an all time high in November 2020, and fortunately or unfortunately my net worth is highly correlated to the market (this is absolutely a topic I will have to explore a little bit later).
Calculating my Net Worth
My Family’s Assets
I will be writing an introductory post about most of the assets below, and update them whenever it seems appropriate.
- Cash Equivalents – This is basically my emergency fund. It isn’t as high as I would like it, but I am slowly saving monthly to get it to where I want it.
- My Trading Account – This one account is both where I invest in my dividend growth companies and risky speculative option trades.
- My 401(k) – My 401(k) has some terrible investment options that have ridiculous fees, but since I am getting a match at work I fund it to that match.
- My Traditional IRA – Just some companies that have caught my attention at some point or another.
- The Wife’s Roth IRA – Again, some companies that have caught my attention at some point or another.
- Crypto Currency – A handful of years ago during the height of the crypto mania I decided to put a few dollars into BitCoin. It felt like immediately after I made the transfer BTC took a nosedive. At that point, I made the decision just to ignore the account.
- Life Insurance Cash Surrender Value – As described I recently 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.
- Physical Gold – A few years back I decided to start buying physical gold.
- My Rental Property – Every month I update a spreadsheet I keep for the minority owners of my rental property.
- My Main Residence – Our home!
Currently, I do not include my investment clubs.
My Family’s Debt
- Law School Debt – Overall this account is just not that large anymore, but at 3.5% fixed I just ignore it.
- Mortgage and Home Debt – I have a mortgage on each home and a home equity line of credit on the rental property. I am hoping I can refinance my primary residence to take advantage of the recent lower rates.
- Revolving Credit Card Debt – The Wife and I pay off our credit cards every month for the most part. Granted we get behind from time to time, but that is the goal, month in and month out.
My debt is going to be much higher this month. We spent wayyyy too much but I am pretty sure that between the increase in unrealized market gains and standard debt repayment the overspending, is going to be swallowed up and not even noticed.
My Net Worth Change
- Month over month my net worth has increased $39,123
- Since starting this site last month (and since this is the first one) I am up $39,123.
This was a big month, but in reality, all it did was bring me back to about even from October, and worse back to even from January! I am not too worried about 2020 being an even year given that I bought a freaking pool with no debt!