Net Worth: 2018-01-01

Happy New Year! If you are reading this you survived the holiday season. We hope that you made it through with no extra debt and some extra savings! Here is a great quote to wrap up the spending season!

“The quickest way to double your money is to fold it over and put it back in your pocket”

~ Will Rogers

We finished the year with our net worth up 8.6% from November and up 55.9% from January 2017. Here are our numbers to kick off 2018.

NET WORTH: 2018-01-01
Cash Savings $14,784.04 9.5%
Cash Back/Gift Cards $1,419.78 66.4%
Brokerage/Crypto-Currency $39,692.00 12.5%
Retirement $460,863.42 5.4%
MOST 529 $3,577.79 6.4%
House $303,000.00 0.0%
Cars & Boat $49,188.00 2%
TOTAL ASSETS $872,525.03 3.5%
Credit Cards $3,686.03 8.4%
Car Loan $21,900.00 -2.7%
HELOC $46,000.00 2.2%
Mortgage $193,858.74 -0.6%
Student Loans $220,104.43 -0.1%
TOTAL LIABILITIES $485,549.20 -0.2%
TOTAL NET WORTH $386,975.83 8.60%

With additions two of our categories above, you should read below to learn more.

Cash Savings
If you have been reading along with us each month, you know this is an area where we struggled for all of 2017. Dr. SoS starting her own business and Mr. SoS taking on a new job after retiring from the old one made for a very tight year. The great thing is that we have slowly been building our cash reserves since October and plan for this to continue from now on. We are up $1,288.20 from last month in cash money!

Cash Back/Gift Cards
We use our credit cards every month for necessary purchases and pay them off nearly every week rather than wait for big bills at the end of the month. We are up to $1,019.78 in cash back that we can use. What is new for this category is that we will now include gift cards. We receive gift cards from friends and family and since they reduce our expenses we decided to include them in this same category. Last year, we received $250 in gift cards and did not spend them until October. This year we received $400 in gift cards and will probably save some of that to use later in the year.

This is another category where we are combining instead of creating a new line item. First, my weekly Options trading was quite profitable last month. I made $267.06 after fees and commissions on my weekly options trades in addition to another $154.14 for the increase in the stock price.

The new addition to this category is an interesting one. I was speaking with a budding crypto-currency investor friend of mine and she asked if I owned any crypto. I told her I did not know much about it except that my youngest son and I tried to mine some Bitcoin (BTC) early on. After speaking with her I spoke with my son, who kept up with it and he said that Ethereum (ETH) was the next big crypto. I had $1600 that I set aside for investing. Being a former hacker, I bought $1337 worth of ETH at $443.54 each giving me +3.01442199 ETH as of December 9th. At the end of December this was worth $2,260.80. I have no idea where it is going to go from here. I may lose it all, but it is fun to watch it grow so quickly.

Nearly all my Covered Call at the end of the month closed In The Money (ITM). When you Sell a Covered Call Option, you accept payment for the obligation to sell your shares at a set price. Closing ITM means I sold the stock at the set price. This was fine because of a couple reasons. I am moving to more of a Value Investing strategy and needed to free up the money to buy other stocks. The other reason is I sold all these Covered Calls at a pretty handsome profit. We finished the month $23,792.52 more in our retirement than in November.

MOST 529
We deposited $150, but are up $215.33.

As of last month this category will remain at $303,000 until July. Curious about the wild fluctuations of estimates? Xome was $325,732. Zillow was $291,131. Average was $308,431.50. My mortgage company now includes even more fun numbers. Median sale price of houses in my area $274,000. Houses sold were 97. Houses for sale 52.

Cars & Boat
We are down $458 from November. My KIA Optima had the biggest drop of the month and our boat went up in value. Go figure.

Credit Cards
Nearly all our cards were paid up through the end of the month. Dr. SoS bought my investing books and a few other gifts in the last couple weeks, so we were up $286.03 from the previous month. Next month this number will go down for sure.

Car Loan
Only 36.5 payments or 3 years 1 months to go.

HELOC (Home Equity Line Of Credit)
Now that our stocks sold in our brokerage account we are going to put the money back in our HELOC. This will bring the balance back down. With the Federal Tax law changing where we will no longer be able to claim the interest on this account, we plan to pay this off as soon as possible in 2018.

Only 130 more payments or 10 years 10 months to go.

Student Loans
Minimum payments made, blah, blah, blah. The good thing is that since we lived this year basically on my retirement buy out package and my salary that we will be able to claim the interest on our taxes! Woohoo!

As of the first day of January 2018, we are up to a net worth of $386,975.83 up 8.6% from the November total of $356,345.34 and up from January 2017 total of $248,150.06. This puts us within the top 42% at 191/477 bloggers on the Rockstar Finance Directory Net Worth Tracker.

If you have any questions, please comment or send us a message on our Contact page. Thanks for reading!

Mr. SoS

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