September 2018 Net Worth Update

//September 2018 Net Worth Update

September 2018 Net Worth Update

I can’t believe summer is coming to an end! With another month in the books it is time to update my net worth spreadsheet.

Thoughts before I calculate my net worth: I usually have a feeling as to how I did with regard to my net worth.  I think this month is going to be an up month.  I don’t think it is based on anything The Wife and I have done differently, rather, the market has been on a tear and my net worth is extremely correlated to the market.

My Net Worth Calculation

My Assets

My assets are pretty simple:

  • Emergency Fund – This month I used good percentage of this to pay off my AMEX bill early.  The Wife and I keep this at an amount that we believe is a real emergency amount rather than a specific amount linked to monthly expenditures.  At this point it is a quite a bit lower than I’d like it to be.
  • My Dividend Growth Account – I am finally back into undervalued dividend growth investing and I am very excited to share my screens and purchases!  I decided last month to take the record keeping of this account a bit more serious than I have for the past 18 months.
  • My Wife’s Roth IRA – Nothing special – just a mixture of cheap index funds and individual companies that capture my attention.
  • My 401(k) – I finally just reallocated future contributions after discussing it for a few months.
  • Wife’s Mutual Funds – This was an amount that was given to my wife from her deceased grandparents.  They were horribly mismanaged until I stepped in, putting them in low expense vanguard mutual funds.  She and I both look at this account as a super emergency fund.
  • My House – I increased the value of my home starting in 2018 3%.  This was the first time since I bought the home that I even bothered to increase the value.
  • My Traditional IRA – Just a few stocks that have captured my attention.
  • Wife’s Business – NEW IN 2018– Just going to value this at the cash that is on the books at the end of every month.  There won’t be a distribution for quite sometime, so hopefully, there is a nice trend upwards.
  • Physical Gold – Earlier this year I decided that I would buy a small amount of physical gold every month or two.  After doing some quick math, I am getting killed in transaction costs.  I set up a capital one 360 account to save the amount I would be buying in gold and I will make a larger purchase less often.
  • Crytocurrency Account – Earlier this year I bought a tiny amount of Bitcoin.  By the time my initial payment cleared bitcoin had dropped 40%.  I am not exactly sure what I am going to do with this account just yet.  Right now I am going to ignore it.

My Liabilities

  • My Law School Loans – Despite being 36 years old I have a significant amount of law school loans left. They are locked in at 3.5%, so I have no real rush to pay them off.  I’d like to get the monthly cash flow back but at about the $40,000 it would be a tremendous hit to liquidity.
  • My Mortgage – I live on Long Island (and it’s on, not in) so the odds of me ever prepaying this down, especially with a 3.375% 30yr fixed is unrealistic.
  • Credit Cards – My favorite card was my American Express Premier Gold Card, whose fee I fight every year, but I recently opened up an American Express Platinum Card for 60,000 points and a lot of benefits for the first year.
  • My HELOC – A good portion of it was to capitalize The Wife’s Business.  I decided to keep the debt of the HELOC on the balance sheet, but ignore the corresponding asset (the removed checking account).

My Net Worth Increase/Decrease

  • From August 1st to September 1st my net worth increased 2.66%
  • Year to date my net worth has increased 9.74%

Not too bad! Again, a lot of it is correlated to the market so eventually I am going to take some biggggg hits (but then again I have been saying that for years and years).

By |2018-09-02T10:40:14+00:00September 2nd, 2018|Personal Situation|0 Comments

About the Author:

Evan is the owner of My Journey to Millions which was started to track his journey from a broke debt ridden law school graduate to building a positive balance. Need more Evan? Follow him on Twitter, Contact him or get new posts directly to your email

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