Happy Friday!
So while I’m giving regular updates on my Emergency Fund, after reading a few blogs, I figured I could give monthly updates on my net worth as a way to show my progress on the road to Financial Independence. I figured I might as well start with where I left off last month.
May 2015 Net Worth: $422,042.26
Just to catch you up, I started the year off with $379,290.29 for a total increase (so far) of $42,751.97!
Here’s my first net worth statement:
You’ll notice a few things here. For one, my Emergency Fund jumped up from $30,000.00 to over $35,000.00, which is a significant jump and represented reaching 70% of the way to $50,000.00. After this month, you should start seeing bigger increases on the Taxable Brokerage Account line. Still, there was an increase of $227.35 in that area. Not too bad considering I don’t touch it. The home value is based on the Zillow “Zestimate,” which Mint uses. I realize this may be over or under, depending on the market, but for the sake of projections and updates, I’m just going to go with it. On the other side of things, my mortgage has gone from about $560,000 when it started, to hovering just at the $500,000 mark today. Still a long road ahead, but we’re making progress.
Overall, there was a change of +4.93% in net worth. A big part of that was probably the tax refund we got, which came out to $8,688.00.
Personally, I don’t like how much of my worth is tied up in the real estate market, but from what I gather, it all counts. I suppose I’ll be more on board with the notion once we start investing in more real estate. For now, it just seems like these numbers could plummet with the market and get cut in half. But such is the nature of the beast.
That wraps up the month of May. I plan to release an update like this once a month while keeping the corresponding number updated in the sidebar. I’ve been seeing that in a lot of blogs and I love it for some reason.
Until next time.