May Net Worth

Cash:
6,222

Roth IRA Basis:
8,931

401k:
Contribution Basis: 5,111
Company Match: 5,111
Total: 10,222

Pension:
$686

Motorcycle:
3,000

Truck:
4,500

Mustang:
1,000

Personal Assets:
12,000

Total Assets:
46,561 (+ 620)

“Liquid” Assets (cash, stock 401k, IRA):
25,375

Liabilities

Chase Freedom:
0

Chase Unlimited:
0

American Express:
35

Bank CC:
0

Student Loan:
Balance: 11,343 (-486)

Total Liabilities:
11,378 (-1060)

Net Worth:
+35,183 (+1,608)

Credit Score:
Credit Karma scores:  782 TU / 750 Equifax
FICO score:  765
Chase Transunion: 782

  • Paid off a $550 sectional and $240 floor this month, so not as much cash gain as normal.
  • Got $5,000 emergency fund into 1.05% Ally Savings account – a lot better than the .05% from the credit union!
  • Going to try to save hard the next couple months to support a couple big house projects – windows and a fence.  May also open a new CC (Chase SP has a $500 offer) to get some cash back on this as well.

April Net Worth

Cash:
6,362

Roth IRA Basis:
8,631

401k:
Contribution Basis: 4,881
Company Match: 4,881
Total: 9,762

Pension:
$686

Motorcycle:
3,000

Truck:
4,500

Mustang:
1,000

Personal Assets:
12,000

Total Assets:
45,941 (+974)

“Liquid” Assets (cash, stock and retirement):
25,755

Liabilities

Chase Freedom:
0

Chase Unlimited:
588

American Express:
0

Bank CC:
21

Student Loan:
Balance: 11,829 (-501)

Total Liabilities:
12,438 (-136)

Net Worth:
+33,503 (+1,110)

Credit Score:
Credit Karma scores:  788 TU / 757 Equifax
FICO score:  765
Chase Transunion: 788

Monthly notes:
– Capped off one more student loan!  Now down to the final high-interest loan (6.55 @ 7.3k) and a moderate interest loan (3.1 @ 4.5k).
– Credit scores took a dip due to a hard inquiry about a potential opening of a HELOC.  Grrr!  Don’t have enough equity yet in the home – need approx. 10% and we are at around 7%.
– CC balance will be paid in full.  This was a piece of furniture the fiance and I were saving up for for 5 weeks and now have enough to pay it off!

The Plan: Phase Three

It’s been a heck of a time these past few months!  I have been busy working and hibernating (winter time), but some exciting new developments and changes have boosted my net worth.  I plan to get back on track and get more consistent updates going again.

First off: THE PLAN!  Remember a post a long time ago when I was laid off and looking for work?  When I wanted to get myself to a level where I know my skillset will be utilized?  To not just have a job, but start a career?  How I wanted to get myself a higher level of income to achieve my goals, ultimately: Financial Freedom?  It has proceeded to another step, and I was able to be promoted again at work!

About three years ago I was laid off and on unemployment… I found a temp job and income was around $26k.  They decided to hire me full-time, and then I was sitting at around $33k a year income in a manual labor position.  A year into that I got a small promotion to a more office-environment job, and the income went up to around $40k a year.  A few months ago I was awarded with another promotion, and my new income is sitting at around $59k a year!  Woot!

Through nothing but hard work and dedication over the past three years, I was able to more than double my income.  NICE!

On to the next exciting development, I was the recipient of a small windfall recently.  A dear friend of mine (he’s about 80) taught me about the stock market long ago.  He is substantially wealthy, and one day we put together stock portfolio as part of a lesson / showing me the ropes.  Over the course of 4-5 years, we let the portfolio sit and we observed, made trades, and rode the roller coaster.  Recently we decided to call it quits.  In the end, the portfolio had gained around 25%.  He is a kind enough man that he decided to gift me the capital gains (after all fees and taxes) so I could use it to pay off debt.  How cool is that?  For now, the windfall was around $13k.  There is potential for more coming in 2017, as the capital gains were around $25k.

I did exactly what he wished: used that stuff to build myself up and pay off those debts!  The $4,500 truck loan is GONE!  My student loan has taken a near $9,000 reduction!  I was also able to beef up my emergency fund to around $5,000 – a number I feel good with that – my Roth can be a second $8k emergency if it’s life or death.  Thanks to this friend’s generosity and our trust in each other, I have been able to make a huge dent in my debt and increase my net worth by thousands.  Now, on to the newest numbers!

Cash:
6,600 (+2,300)

Roth IRA Basis:
8,030 (+1100)

401k:
Contribution Basis: 4,400
Company Match: 4,400
Total: 8,800 (+2038)

Pension:
$650

Motorcycle:
3,000 (-500)

Truck:
4,500 (+4,200)

Mustang:
1,000

Personal Assets:
12,000 (reworked, +4,600)

Total Assets:
44,580 (+15,079)

“Liquid” Assets (cash, stock and retirement):
24,080 (+6,192)

Liabilities

Chase Freedom:
0

Chase Unlimited:
0

American Express:
0

Bank CC:
35

Student Loan:
Balance: 13,200 (-9,422)

Truck Loan:
0 (-4,700)

Total Liabilities:
13,200 (-14,250)

Net Worth:
+31,380 (+28,679)

Credit Score:
Credit Karma scores:  767 TU / 759 Equifax
FICO score:  773
Chase Transunion: 767

*mic drop*

July Net Worth

Cash:
4,312+50 = 4,362 (+170)

Roth IRA Basis:
6,333 (+200)

401k:
Contribution Basis: 2,875
Company Match: 2,875
Total: 5,750 (+382)

Motorcycle:
3,500

Car:
1,500

Mustang:
1,000

Personal Assets:
7,400

Total Assets:
29,845 (+752)

“Liquid” Assets (cash, stock and retirement):
16,445 (+752)

Liabilities

Chase Freedom:
0 (-0)

American Express:
87 (+49)

Bank CC:
35

Student Loan:
Paid on loan: 278.16 (171 Principal / 107 Interest)
Balance: 23,123 (-161)

Total Liabilities:
23,245 (-112)

Net Worth:
+6,600 (+864)

Mortgage Breakdown:
Appraisal:  160,000
Loan Balance:  149,075
Equity:  10,925
July Payment:  258 P / 482 I / 311 E = 1,051

Monthly Income: 2,688
Monthly Assets Change: 752
Monthly Liabilities Change: -112
Monthly Net Worth Change: +864
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan/MortgPrincipal): 1,288 (48%) x .55 = 26(All expenses are shared jointly, me @ 55%, Fiance @ 45%)

Credit Score:
Credit Karma scores:  755 TU / 749 Equifax
FICO score:  739

Decent month for July.  I definitely came out low on cash savings, but 401k and Roth were consistent, not to mention another consistent student loan payment.  This month, we spent a lot of cash on landscape materials for the house, about $150 total.  I also had to buy a new power supply unit for my computer that cost $60 – it couldn’t run without replacing it.  Not to mention the dog’s haircut and a new pair of sunglasses (I lost a pair I just bought last month) for another $50.  We also had a nasty vet bill, costing us each $50.  I still managed to come out ahead, so that’s a plus!

This month was also a big deal because we got engaged!  We are one step further in our relationship, and are preparing to get married in about a year’s time.  She is the best, and I couldn’t ask for a better partner in life.  She is also a good  help with the finances – she pays her fair share of all shared costs, including retirement, utilities, food and the big ones like mortgage and student loans.  We are looking forward to a bright future!

It was cool to see how my 401k and Roth IRA are growing.  After looking at the monthly balances, they were both over 6,000 (market price) which was pretty cool to see!  Just a couple years ago I had no 401k and my Roth IRA had just started with the $1,000 minimum.  It’s easy to see if we continue down this path, along with putting nearly $500 a month towards student loans (hers and mine), we are setting ourselves up for success down the road.

June Net Worth

Cash:
4,092+100 = 4,192 (+1,159)

Roth IRA Basis:
6,133 (+250)

401k:
My Contribution Basis:2,684
Company Match: 2,684
Total: 5,368 (+444)

Motorcycle:
3,500

Car:
1,500

Mustang:
1,000

Personal Assets:
7,400

Total Assets:
29,093 (+1,853)

“Liquid” Assets (cash, stock and retirement):
15,693 (+1,853)

Liabilities

Chase Freedom:
0 (-4)

American Express:
38 (+21)

Bank CC:
35

Student Loan:
Paid on loan: 278.16 (159.25 Principal / 118.91 Interest)
Balance: 23,284 (-174)

Total Liabilities:
23,357 (-157)

Net Worth:
+5,736 (+2,010)

Mortgage Breakdown:
Appraisal:  160,000
Zillow Estimate:  173,000
Acting Appraisal:  166,500
Loan Balance:  149,332
Equity:  17,168
June Payment:  256 P / 483 I / 311 E = 1,050

Monthly Income: 3,128
Monthly Assets Change: 1,853
Monthly Liabilities Change: -157
Monthly Net Worth Change: +2,010
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan/MortgPrincipal): 2,387 (76%) x .55 = 42% (How is this number calculated?  All expenses are shared jointly, me @ 55%, GF @ 45%)

Credit Score:
Credit Karma scores:  757 TU / 750 Equifax
FICO score:  742

Solid month this June!  A couple of fun outings net met a few hundred extra in cash, plus a full return on deposit from our rental!  On top of that, we recieved a rent credit as well for moving out early the final month.  This month was definitely a good one for excess cash!  Nothing of partiuclar note otherwise, just going to continue chugging along.  Life is good – I’ve got a job that pays enough for me (and my GF) to pay all the bills, sock some extra away for retirement, and still save a bit/spend a bit on top of that.  Off to enjoy Independence Day!

I’m Back (With a new purchase!)

Wow – it’s been a bit of a rollercoaster these last several months.  I decided not to post monthly updates due to huge fluctuations in my cash amounts, selling the taxable account, and just due to time constraints.  The big deal is: I bought a house!  I am now officially a homeborrower.

I saved hard, worked lots of overtime, sold the taxable account, got a nice tax refund, and added a bit of my girlfriend’s tax refund, to save up for a 5% down payment.  On top of the down payment, we had to reserve three whole months of rent payments due to the rental company not being able to cancel or reduce our rent for the house sitting vacant.  Well, yesterday was that final rent payment and we are back on track!

All-in-all, we had to pay four extra months of utilities, and three extra months of rent (although one was pro-rated) on top of the new mortgage payment.  With my girlfriend’s help, and an unexpectedly low closing cost, we were able to get it done.  Now we’re back on track for a more steady outlook!
Extra rent payments:  $2,365
Extra utility payments:  $590
Total extra payments (I’m crying in pain):  $2,955
Funny how that almost adds up exactly to the surplus shown below!

Here’s a breakdown of what the house transaction looked like:
Selling price:  155,000+3,000 = 158,000 (3,000 was “closing costs”)
Down payment:  $7,900
Total loan:  150,100
Loan Interest Rate:  3.875% – this includes lender paid Mortgage Insurance so I’ll never have to pay PMI!
“Cash to Close”:  $5,035
Surplus saved:  $2,865 (down-payment minus cash to close)

The official appraisal was $160,000, so we are right on track!  The Zillow estimate puts it at $173,000, so we are definitely in a good spot right now!  Depending on the value you use, that puts me at $10,500 to $23,500 in equity.  That’s definitely a good place to start.

House Stats:
Built: 1980
Finished SF:  1,960
Lot:  .45 acres
Style:  Ranch
Bedrooms:  3
Bathrooms:  2
Basement:  Full, part finished
Garage:  Oversized 2-stall (572 SF)
Upgrades/extras:  Roof 2010,  A/C and furnace 2008, stainless appliances, washer/dryer included, standing freezer, extra 2-door fridge.

October Net Worth

Lil’ Sizzlers Portfolio:
Total Market Value: 1,061 (+71)
Total Divs: 32.81

Cash:
1,643+150+696 = 2,489 (-22)

Roth IRA Basis:
4,835 (+250)

Roth IRA Cap Gains/Divs:
-34 10/31 Gains (+216)
+46.21 2014 DRIP
Total: 12

401k:
My Contribution Basis: 1083
Company Match:  1083
Total: 2,166 (+364)

CC Cash Back:
14+20 Chase, 35 AmEx (Credits)

Motorcycle:
3,500

Car:
1,700

Personal Assets:
5000

Total Assets:
20,832 (+731)

“Liquid” Assets (cash, stock and retirement):
10,632 (+731)

Liabilities

Chase Freedom:
55 Payment Bal (-17)

Amercan Express:
412 (0% Interest)

Bank CC:
25

Student Loan:
Paid on loan: 200
Balance: 23,931 (-103)

Total Liablities:
24,423 (+292)

Net Worth:
-3,591 (+439)

Monthly Income: 2,531
Monthly Assets Change: +731
Monthly Liabilities Change: +292
Monthly Net Worth Change: +439
Monthly Savings Rate (IRA/401k+Match/Investments/Cash/StudenLoan): 36% or $931.

This month was decent!  Due to the 3 year anniversary with my girlfriend and a job change that required some shopping, I spent quite a bit more than usual this month (over $500).  I got my third credit card, an AmEx Blue.  They started me at a 5k line immediately, which almost doubled my available credit – nice!  I’ve not got $11,000 available credit.  Also, a recent check of the FICO credit score puts me at 763, while CreditKarma is reporting 750 and 743!  Looking good there.  I am excited to get my $250 cash back after a $1,000 spend on my AmEx as well.  The savings are real!

With the holidays coming up, the cash savings will probably continue to remain stagnant, but retirement and student loans keep the top priority and will not decline.  The current decline in student loan is due to putting half into an account for the girlfriend, who has an immediate college bill that wasn’t covered by financial aid.  All is well here!  Hopefully I’ll be another $1000 closer to that $0 net worth mark after the end of this month as well.