Net Worth Update – May 2019 $335,306.38 (+$11,306.37/3.37%)

Net Worth, millionaire, millennial

Another great month of net worth growth! It’s really nice to follow up our all time best month with a solid 5-figure increase. We’ve definitely been spoiled over the last few months. We’re up $70,959 since our January net worth update!

We’re climbing to $200,000 in retirement accounts and $350,000 in total net worth. I can’t help but think about our September 2018 update where I was excited about being so close to our 2018 $150,000 retirement account goal. Soon after we started dropping month after month leading to the Christmas lows, and missing our 2018 goal. But I’ll push that negativity to the side and focus on the here and now:

House (-$404.00)

Relatively flat from last month, starting to wonder if I should keep it at $360,000 and ignore the Zillow estimates. In this month’s edition on why home ownership sucks (Here’s a longer post about it), one of our breakers keeps tripping. We had an electrician come to take a look, but they weren’t able to find the reason, and replaced the breaker. No luck. We might be paying for another electrician visit to figure it out.

In positive news, I’ve previously talked about a big cost of having our fence repaired. After we got costs back, we decided there was no way we would spend that much money on a small section. Instead, with the help of my father-in-law, we are removing and replacing the damaged fence ourselves. We will probably end up spending ~$300 in total, which is a hulluva lot less than the $4,055 we were quoted!

Cars (-$703.00)

Larger drop this month because our car values went up (for some reason) last month. Not shown is the cost of 4 new tires on my car 🙁

401k (+$6,402.92)

About $4,000 of the gain is coming from the market, the other $2,400 is from weekly contributions and company matches. YTD this account is up 18.3%, slightly better than the 16.4% YTD gains in the S&P 500.

Roth IRA (+$2,859.28)

There were a few stock changes this month. We sold 3M (MMM) after they updated their guidance downward and were able to capture a modest gain (which would now be 20% negative if were still holding). We also sold Kraft Heinz (KHC), I decided to cut the losses and devote the money elsewhere. Elsewhere happened to be Marathon Petroleum Company (MPC). We also used a portion of the money we were holding in Vanguard Corporate Bond ETF (VCLT) and bought more Disney ahead of their Disney+ announcement (at a price of $114.99/share). That one trade made up the losses in Kraft Heinz in 2 weeks, which helps.

You can compare individual performance of each stock by looking at last month’s net worth update. (Big changes in AAPL, DIS, FB, MO, & ALLY)

Monster Vacation Fund (+$507.99)

We had good growth in the vacation fund mostly due to Facebook (FB), and slightly less so due to our total stock market ETF (VTI). This time last year, the Monster Vacation Fund was at $2,100 – up 2.5x, which is awesome!

Cash (+$607.67)

This increase in cash is due to timing and nothing else. By the time this is posted, we will have paid for my next MBA class (-$2,500) and added to our toddler’s 529 plan ($1,000). Expect a big swing negative in the June update!

Mortgage (+$623.95)

Continuing to chip away at this loan – just ~6 months until we kiss $200k owed goodbye!

Equity Loan (+1,411.56)

If you’ve been following the net worth updates (last three here) you might notice that the decrease is a lot more than usual. The reason is because our HEL company changed our contributions so that additional payments applied to the next month’s bill, instead of to the principle. Because our payments were every other week, the 2nd (and sometimes 3rd) payment in each month went towards the next monthly bill. I only noticed because I was pulling this data for the net worth update and decided to check the payment history.

Once I noticed what was going on, I made a call to the company. I found out that the type of loan we have doesn’t allow multiple monthly payments to count towards the principle. Even though we had been doing it this way since we opened the account, they made the payment changes in January. Fortunately, they were very understanding and back-filled our extra payments (we were not scheduled to owe a payment until October). I agreed that we would only make one payment each month; instead of $500 every 2 weeks, we will pay $1,100 every month to avoid the rule.

As a result, all of the extra payments we had made so far (5) were adjusted to the principle and our next bill date was changed from October to May.

Previous 12 Months Graph

Less of a pop than last month, but 3% growth in net worth in a month is phenomenal! I need to keep that in mind because my gut reaction was slightly disappointed after 2 of the previous 3 months were >$20,000 net worth smashers.

Retirement Accounts

We’re so close to our 2019 retirement account goal of $200,000. Even if the market stays flat for the rest of the year, we’ll still hit the goal from our regular 401k contribution (about $12,500 left this year). Of course, now that I’ve said this, the market will tank the rest of the year… sorry everyone!

Last Month’s Goals

  1. Figure out what book I want to read next and read it! Half pass? I figured out what I want to read next, I just haven’t finished (or started) – it’s Dare to Lead (affiliate link).
  2. Post 6 times – Fail! I had several weeks of not posting anything. No real reason not to other than I was feeling tired and had a lot going on at work
  3. Get back into the gym when I’m home and track my food with My Fitness Pal – Half pass.. I got back into the home gym right away and have been keeping at it. I haven’t been tracking my food with MFP, still want to get back on that train.
  4. 95% on my next MBA exam – Fail! I did better than my previous exam, but a 91% was not the 95% goal. I had my final over the weekend and did end up with a 95% overall grade though, so that’s something.

April Goals

  1. Read Dare to Lead!
  2. Post 5 times – I think I’m trying to find something to be inspired about before writing… but I need to just write.
  3. Have 2 weeks of no extra grocery store visits during the week.

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.

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