With another month in the books, it was time to update my net worth to see how I did over the past 30 or so days. I enjoy keeping my spreadsheet updated and sharing those results for me to see for years to come (since no one is reading them anyway).
Feelings prior to calculating: I haven’t calculated yet, but when I opened up this window to start writing I have feeling that February is going to be a bad manth mainly because of spending. This month we have done a few ski trips and The Wife leased a new car.
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 – I finally got this number to a comfortable number! It represents about 2 months of my family’s bare minimum run rate. It is also is probably the largest, “oh shit” number I would need access to within a day or two.
- 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.
- The Wife’s SEP IRA – Brand new account. The Wife was talking to my father in law 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. Just going to be sending $100/week to the account. Plan is to just buy a broad based equity ETF (VOO) and a smaller position in a dividend-focused ETF (NOBL).
- Crypto Currency – A handful of years ago during the height of the first crypto mania I decided to put a few dollars into BitCoin (literally it was just $1k).
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 – and it is just back to above even. Upon talking to a buddy about Bitcoin and actually signing into my account for the first time in months/possibly a year, I found out that CoinBase allowed for periodic investments, so I turned them on. I did just $50 a month, figured it was an amount that if the whole thing crashes I am not going to be too pissed, and if it takes off, then at least I’ll have a taste.
- 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.
- 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 clubs in my net worth.
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. I am hoping that President Biden kinda just eliminates it for me.
- Mortgage and Home Debt – I have a mortgage on each home and a home equity line of credit on the rental property. I wrote last month that I was, “still in my process of trying to refinance my primary residence” and damn it that is still true! I am hoping by the time that I write my next one of these posts I’ll be in underwriting.
- Revolving Credit Card Debt – For the most part, The Wife and I pay off our credit cards every month – this was not one of those months! It’ll take me a few weeks to get out of the hole but nothing that is a huge deal.
My Net Worth Change
- Month over month my net worth increased 3.56%
- Since starting AA my net worth has increased by approximately $100,000.
My gut was way off. The positive swing in the market this month, along with built into debt amoritzation payments dwarfed a new lease and a few ski trips.