Thoughts before Updating Net Worth: I am going to be up this month despite outrageous spending. The market tail wind has been incredible since Trump got elected:

Calculating my Net Worth

My Family’s Assets

While I have several asset categories, I don’t think they are particularly complicated.

  • Cash Equivalents – A few months ago I calculated how much cash I would like to have on hand, and I am woefully short of that. This will be a massive grind to get me to my desired number, but I am up for it!
  • My Trading Account – This one account houses both where I invest in my dividend growth companies and risky speculative option trades.  Early this year I decided how I am going to handle the account in 2024, which I then updated. A few months ago, I highlighted the massive dip this account has taken due to $DG and $DLTR. It has been a while but they both started to move upward very recently, with earnings coming out for both of them this week! I am hoping they get a massive jump and I can unwind some, if not all, of these positions so I can get back to selling naked puts.
  • My 401(k) – My 401(k) has some terrible investment options with ridiculous fees, but I get a match so I have to participate. I recently increased my contributions, and I am hoping to do so one more time before the end of the year. My HR Dept just put something on my calendar about fixing my terrible choices which excites me! We’ll have to see what happens here over the next month or so.
  • My Traditional IRA – Just some companies that have caught my attention at some point or another. I wrote last month, “I think in Q1 I’d like to take a more intentional approach to this account.” I failed in Q1, but I won’t fail in Q2. I reviewed and updated the account.
  • The Wife’s Roth IRA – Again, some companies that have caught my attention at some point or another. I wrote last month, “I think in Q1 I’d like to take a more intentional approach to this account.” I failed in Q1, but I won’t fail in Q2. I reviewed and updated the account.
  • The Wife’s SEP IRA – The Wife was talking to my father-in-law a few years back who told her that she should have a SEP IRA, and since she is funding it with business proceeds, I was not going to argue. We were contributing $100/week to the account, but that has stopped since her business is really on the decline.
  • 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. Bitcoin’s rcent bull run has me checking a bit more often!
  • 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. I have plenty of posts about paying it back and then pulling it back out and then paying it back. The place holding the debt had a higher rate than then carriers so all debt has been moved over. Last month I wrote, “this quarter I will need to figure out how to set up a way to pay back (the actual logistics).” I haven’t done it yet, but will over the next month or so. Still have failed.
  • 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. Two months ago I wrote, “I’d like to pick up my small purchases this month.” I failed, and I don’t see it happening till after the new year.
  • My Rental Property – Every month I update a spreadsheet I keep for the minority owners of my rental property. 
  • My Main Residence – My Family’s home.

Currently, I do not include my investment club in my net worth.

My Family’s Debt

  • Law School Debt – Refinanced this to 2.6%, a year or so ago. I am aggressively paying this down this year (9% in January, another 10% in Feb and 9% in March) so I can clear out some more cash flow. Finally paid off.
  • Mortgage and Home Debt – I have a mortgage on each home.
  • Consumer Credit Card Debt – I keep going from zero to a shit ton and it is killing me. I am hoping to get rid of most of it, if not all of it in 2024 and get it entirely under control.  I killed the 0% credit cards in March (helping out operation C.R.E.A.M), but my Amex got away from me so I put all of it on a 7% fixed and it will now need to be eliminated, aggressively, now that the law school debt has been retired.

My Net Worth Change

  • Month over Month my family’s net worth increased by 2.75%
  • Year to date my family’s net worth increased by about 25%

Gotta push it hard for the last 30 days!

Net Worth