Happy Halloween! I know it is only the beginning of the month, but it is never too early to start celebrating once October begins. Am I right? Autumn is my favorite season and Halloween is our favorite holiday!
Our net worth increased 1.6% from last month. With our dwindling cash reserves down for the eighth straight month, a decrease in our investments, and an increase in our liabilities, only the subjective increase on our home value kept us from a negative net worth. Let’s take a look at the numbers, shall we?
|NET WORTH: 2017-10-01|
|Cars & Boat||$51,228.00||-0.6%|
|TOTAL NET WORTH||$363,482.67||1.0%|
Here is additional information about each of the categories shown in the table above.
Our total cash and savings accounts are down again continuing a trend that began in February. I was hopeful we would increase our cash savings, but we have reduced our current expenses as much as possible, so in order to reverse this we just need to make more money. Being an Excel expert, perhaps I can snag some consulting gigs. Dr. SoS is trying out a new health plan, so that could bring in some regular income, as well.
We spent even less money this month than in August, but our cash back is up another $41.28 from just paying for gas, groceries, and our utilities on our cash back credit cards. Nice!
Although the value of this account is down $2,141.66, as long as we hold the stock we will not suffer a loss. Despite the lower stock value, I made several options trades last month and made $133.19 after commissions and fees. We will continue to hold the stock and make trades, but once the stock rises at or above what it is worth we will sell and pay off the HELOC as I mentioned in our last net worth update.
Since one of the same stocks we own in our brokerage account is the same in our retirement accounts our overall account balance is down $10,449.69. However, I had my best month yet playing the stock volatility game and trading options creating $7,071.46 after commissions and fees from nothing but a few taps on my phone or clicks with my mouse. My plan in retirement is to continue trading on the side. Without taking any money out of my accounts, if I bring home $5,000 to $10,000 per month that’s an income of $60,000 to $120,000 per year and I will not even have to touch the principal. I do not know about you, but without a mortgage, student loans, and few other bills I believe we could certainly live large on those amounts.
This account is up $237.70 from our monthly deposit of $150 plus the increase in value of the Vanguard Aggressive Growth Portfolio where we have our money invested.
This is where we experienced the craziness and only reason our net worth went up this month. Several months ago, our mortgage was sold to a new mortgage company. This new company provides home estimates from Xome and Zillow. Lately, with some crazy lake home sales, this amount has shot through the roof. In previous months, I would take the larger of the two values, but I believe from now on I will take the average of the two. This month Xome estimated our home to be worth $344,674 and Zillow estimated it $310,271. We could probably sell the house with little updates for $310K, but without some updating, I do not believe we could get $344K for it. I believe about $315K is a fair estimate and the average of the two put us at $327K, so that was what I used.
Cars & Boat
We are an expected $292 down from last month. This is more reasonable than the increase we experienced last month.
My paycheck did not come in until the 6th of this month and Dr. SoS did not deposit a paycheck until the 7th, so we had several balances that carried over through the first of the month. These should all be paid by next month.
Another automatic monthly payment and we are down to 39.5 payments or 3 years 4 months remaining.
HELOC (Home Equity Line Of Credit)
No change here except the $200 plus interest we paid from last month. I like round numbers, so I always make a payment and include the interest charged for the month.
Each payment makes a difference with only 133 more payments or 11 years 1 month remaining!
Not much of a change here. We made our monthly payment which does not even seem to dent the massive amount. Once more money comes in, we plan to focus more on this debt.
As of the first day of October, we are up to a net worth of $363,482.67 from August’s total of $357,841.17. This puts us at 165 / 420 bloggers on the Rockstar Finance Directory Net Worth Tracker.
If you have any questions about any of this, please let us know. Thanks for reading!