Net Worth Update – November 2018 $281,142.47 (+$6,217.24)

Don’t be fooled by the decent gain this past month, our retirement accounts were gashed pretty hard last month.  We did fare a little bit better than the market overall, which was down by nearly 7.5%.  (Remember my post about the first day of the big decline?)

We also managed to do better with our cash position this month than the last several, only down the slightest amount.

But the major story of the month was we got a free car!   It’s contributing $13,146 gain to our net worth this month.  Without the new car, we would be $6,928.76 in the red for the month.  But I’ll take the win, especially in a month that should have been the biggest one month drop in our net worth since we started tracking.

Net worth update, net worth

House (Flat)

Keeping the house at the same value (explained in this post.)  The Zillow estimate that I will start using in a few months increased $1,440 to $347,731 in case you are wondering.  Our goal is to never sell this house, but it’s nice that we have good equity (even after taking the Home Equity Loan out.)

Cars (+$12,508.00)

As I mentioned above, $13,146 came from a new car that we received for free.  The car is a 2011 Ford Explorer with 96,000 miles.  It has some body damage and electronics that need to be replaced.  The story of how we got a free car isn’t exciting at all.  We have some family that were getting rid of it and I offered to buy it from them.  They told me they would just give it to me, which I happily accepted.

The 3rd row SUV should meet our needs until it dies.  I look at it as a way to delay the inevitable minivan…

Net Worth Update, Minivan dad

This month we are fixing some of the major issues with the Explorer, and paying for it with the cash we get from selling our other vehicle.  We owe $8,500 on it and hope to sell it for $11,500 – the extra cash will get us through the next two months until my wife goes back to work part time.

401k (-$6,351.31)

5.5% drop this month with the rest of the market.  One major factor in not dropping as far as the total market (-7.4%) is because of the weekly contributions and because I received an annual “results based company contribution”.  Otherwise, the 401k would have been down a couple thousand $$$ more.

Roth IRAs (-$1,263.41)

We didn’t drop as much of the rest of the market here because my wife’s Roth IRA is a little bit more defensive and because some of the individual stocks I own in my IRA were actually UP for the month of October.  Here’s a total snapshot of how each individual stock I own has performed.  If you want to compare, pull up last month’s net worth update and see how they did (there is 1 new stock that I bought on it’s way down).

November Net Worth, Net Worth Update

Brokerage (-$153.73)

This account lost even more in value when you consider that there was an extra $100 added during last month.  We will keep letting this account grow each month and keep our eyes on a Disney Vacation in another 9 years.

Cash (-$213.68)

We are finally not negative by thousands of dollars this month.  From June we are down $8,441.40, which is pretty awful.  But we’re putting as much as we can towards paying down higher interest debt (the home equity loan) and continuing to donate about $800 per month to charity.  So we have options if we need to build up cash or come up with an extra $1,500 in a month.  Selling our car this month will (hopefully) give us a little bump to our cash bottom line.

Mortgage (-$612.38)

We just keep on chugging away at this loan.  We don’t make extra payments since the interest rate is a relatively low 3.5%.

Equity Loan (-$648.14)

I love watching this one tumble down.  I was thinking that we would have 3 payments applied this month, but it looks like it won’t be captured until our next update?  Maybe?  Either way we are going to chip ~$7,500 off the principle in 2018, which is awesome!

Car Loan (-$430.85)

We have 1 more month to write about the car loan!  An extra $500 per month not going out of our bank accounts would be a welcome sight.  Here’s to hoping I can get $11,500 for this car and we can go at least 7 years without getting a new car.

Previous 12 Months Net Worth

The chart below shows a rolling chart of how our Net Worth has changed over the last 12 months, which is always nice to see.

November net worth, net worth

Retirement Accounts

This month we are down to $153,827.91, a loss of $7,614.72 from October.  Our stepping stone goal for 2018 was to hit $150,000 in total, so we are just $3,827.91 above that goat with 2 month to go.  It’s coming down to the wire!

 

So there you have it.  October 2018 is already in the rear view mirror.  Thanksgiving is early this year, just a few weeks away.  Christmas commercials are upon us.  And, thankfully, we are just a couple of days away from not having to see another political ad for a while.

Last Month’s Goals
  1. Get that free car – DONE!
  2. Sell my car for $11,500 minimum – Not yet…
  3. READ A FREAKING BOOK – I started a book (Grant) and have to finish it before Fire and Blood comes out on November 20th.  I really like Grant so far, I’m about 250 pages in.
November Goals
  1. Sell my car for $11,500
  2. Finish Grant and start Fire and Blood
  3. Figure out Christmas gifts

Have a great November and (if you’re in the United States) don’t forget to vote!

MB2030

 


Are you interested in tracking your Net Worth?

Tracking my net worth was one of the first and best decisions I made to start getting serious about saving for my future.  Back in April 2017 I created a Personal Capital account to make it easier to keep track of my accounts.  Instead of hopping from website to website to add up my different accounts, I just needed to visit Personal Capital to see them all in one place.

It is a great tool that connects your different bank and investment accounts all in one place.  Once you add your accounts, they will update automatically.  It is easy to see how your spending (and saving!) affects your total financial picture.  The program is incredibly easy to use and very straightforward.

Personal Capital Affiliate Link

It takes just a few minutes to sign up and enter your account information.  After that, you’re off and running to having a clearer understanding of where your finances are.

2 thoughts on “Net Worth Update – November 2018 $281,142.47 (+$6,217.24)”

  1. This is the auditor in me so I apologize for diving deep into family transactions, but why would your family member just give you a car values at ~$13k? Is this the KBB value of the vehicle?

    $13k is a pretty material amount for anyone and would assume they would, at the very least, give you a discount from the market value of the vehicle vs. just giving it away.

    I could also see a scenario were the car is worth less than $5k and them giving it away, but not $13k.

    Again, just me being an auditor because nothing in this world is given away when the fair market value is significant.

    Otherwise, keep up the great worth on the net worth!

    1. Hey Church!

      $13k is the KBB “Fair” condition value. And I agree that $13k is very significant for almost everyone. The family that gave it to us are very generous, and incredibly wealthy. To them, $13k isn’t nearly as significant.

      It was their daughter’s car, but since she started school in NYC, she doesn’t have a need for a car, let alone the big SUV. It was collecting dust in their garage for a couple of years.

      To register it in our state, we had to fill out a special vehicle gift form and bring a bunch of documents to show that taxes were paid on the vehicle.

      To be honest I was/am embarrassed to mention receiving a free vehicle, but it wouldn’t be honest of me to gloss over it or just not talk about. It has a pretty significant impact on our finances by eliminating a car payment and (hopefully) delaying the purchase of another vehicle that can fit more babies.

      Anyway, thanks for reading and asking!

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