Net Worth: 2020.01.01

Happy New Year and Happy New Decade! This year will be the year of more! Dr. SoS and I made plans this year to learn more, earn more, save more, and invest more. As for the decade, we plan to remodel the house, pay off the rest of our debt, and to become financially independent. That said, how did we do last month? Have a look!

Monthly Net Worth Update

Net Worth: 2020.01.01 vs 2019.12.01
Net Worth: 2020.01.01 vs 2019.12.01

Assets

After a down month in November, we recovered and reached a new high for our assets in December totaling $988,612.91 up $949.56 from our previous high a couple months ago.

Cash Savings

As I mentioned in my post, Controlling Your Money With YNAB, after using Mint for the past seven years, we switched to YNAB. I only looked back at Mint a couple times, but it pales in comparison to YNAB. We purchased the annual subscription for $83.99, which for us will begin on January 16th.

We increased our Cash Savings by $1,258.30 in the last month. I attribute this to using YNAB, but this could also be due to our weekly transfers to our Synchrony High Yield Savings account, which currently earns 1.80% APY with no minimum balance.

Cash Back/Gift Cards

Because we reserved the hotel room for the Berkshire Hathaway shareholder meeting on our new American Express Hilton credit card, we received a $100 statement credit. In addition to that, our cash back rewards increased $133.16 during December. This included purchases from our other cards and a restaurant gift card from my mother for McCormick & Schmick’s.

Cryptocurrency

We are down another $307.24 since December. What will happen to cryptocurrency when stock prices decline? Will people flood to cryptocurrency like they do gold and silver?

Retirement

We plan to attend the annual Berkshire Hathaway shareholder meeting in May. I plan to network with other like-minded investors, especially those I met online in my value investment group. One of these new acquaintances mentioned an interesting company to me last month on the day of their earnings call. I trust their judgement since they are a CFO for a company. I turned this casual mention of a stock into a $4,095.42 profit for a two-day options trade. This was the single best options trade in my history trading. I made a stunning 818% annualized return on risk capital (ARORC).

The total increase for our retirement was 0.86% last month, which included my options trade, my automatic deposit into my 403b and my company match. Meanwhile, we are looking for wonderful companies to purchase at fair prices.

529

I am not sure what we plan to do with our 529. In the coming year, we may focus more on my 403b, our IRAs, Roth IRAs, and creating either a SEP IRA or a Solo 401k for Dr. SoS. First stop, speak with our accountant.

House

Our neighbors all complimented our new garage door that we shared photos of last month. Due to the high valuations of the houses in our area, we plan to keep our value at $310,000 for the foreseeable future.

Cars and Boat

Our cars both dropped in value last month with mine receiving a $339 decrease and Dr. SoS’s receiving a $71 decrease. We covered our boat for the winter, but winter has not hit, yet. Here is a photo I took of our dock and boat on Xmas day. My wish from Santa was more warm days like that one!

A Beautiful Xmas Day on the Lake

Liabilities

Dr. SoS colored another row on our Debt Free Chart as our balance dropped below the $376,000 threshold reaching a new low of $374,660.87. In addition to saving and swimming, paying off debt is the place to be. Here’s our updated new chart. Dr. SoS chose the colors.

We have a matching paper version of this chart hanging on our refrigerator. I keep hoping someone will notice it and say something, but no one has. If you would like to visit us for dinner and discuss it, please let me know. We cook great healthy meals.

Credit Cards

Please note that we managed to get all our credit cards to $0.00 balances by the end of the year. Take that Xmas shoppers! We spent about the same as in years past, but purchased gifts for more people. The gifts for our family totaled $634.90 and that was for 16 people.

Car Loan

With only 12 more $600 payments we only owe $7,200 until no more car payments. Have I told you how excited I am about this? Yes, why yes, I have.

Mortgage

We have 8 years 11 months (107 payments) to pay off the $163,099.96 balance paying off $1,320.31 against the principle last month.

Student Loans

We have 23 years 2 months (278 payments) to pay off the $204,360.91 balance paying off $535.59 against the principal last month.

Summary

As of the first day of January 2020, we are up 1.43% to a new high of $613,952.04 from our net worth of $605,306.66 in December, and up 13.00% from our net worth of $543,337.21, from January 2018. Our current net worth keeps us in the top 27% at 216/787 bloggers on the Rockstar Finance Directory Net Worth Tracker.

We compile this information each month to keep us accountable and to hopefully inspire others to spend less than they make, save more, and make wise investment choices. If you have any comments or questions, please leave a comment or contact us directly.

Thank you for reading!

Mr. SoS

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