Net Worth: 2020.05.01

For the most part, I had our net worth calculated before the end of the month and had any outstanding accounts reconciled by May the 4th be with you. With the Berkshire Hathaway annual shareholders meeting on May 2nd and all our outdoor gardening this is my first chance to update our net worth. We are still slowly paying off debts and saving for our future. Here are the numbers. Now with color!

Monthly Net Worth Update

Net Worth: 2020.05.01 vs 2020.04.01
Net Worth: 2020.05.01 vs 2020.04.01


Despite the fact that Dr. SoS is collecting less income, we still managed to increase our assets. Some of this was savings, a little was cash back on our credit cards, some was recovering cryptocurrency, and lastly it was savings into our retirement accounts.

Cash Savings

If you read our blog, you know I am a huge proponent of YNAB. Dr. SoS and I discussed recently how well YNAB keeps us on top of our finances and helps us allocate money toward the things that matter. We finished the month with our Age of Money at 58 days. This will most certainly drop in a month or two when we pay our income and property taxes to the tune of thousands of dollars.

Our total cash savings reached a new high at $19,871.46. We moved $7,000 of this into our cash brokerage account to invest should we find favorable investments in wonderful companies.

Cash Back/Gift Cards

Our cash back is up $96.06 over the past month due to increased shopping. We reached the point where we are now collecting 5% back on Gas and Groceries with our grandfathered Amex Blue Cash card. The rest was from shopping on Amazon, Costco, and using our Citibank Double Cash card.

I performed an analysis across our credit cards and figured this way and that and because of our grocery spend it still makes more sense to use our Amex Blue Cash card for gas and groceries. My goal is to continue to optimize our cash back since we already pay off all our credit card balances in full each Friday.


After a big drop in March we recovered slightly in April. To illustrate what a poor speculation this turned out to be I graphed the value from the last time we added money to our Coinbase account. Don’t get me wrong. I believe that if you would like to purchase cryptocurrency that Coinbase is one of the safest places to do that. We just happened to enter the cryptocurrency market at the top and rode it to the bottom.


We had a meeting with the accountant we have for Dr. SoS’s business. Due to her decreased income this year we plan to be in the 12% tax bracket. I decided to do a back door Roth IRA transfer and transferred $15,000 from my IRA to my Roth IRA. None of this money is currently invested. In addition to this change, we contributed $2,998.36 to our retirement accounts.


Our measly $43.01 balance is an increase of $0.06 from last month. Our focus is going to be saving for our retirement right now. Once we get that settled, we may begin to contribute to these account again.


The average list price for our home between Xome and Zillow is $346,913. The median list price for homes in our zip code is $348,000. I still believe $310,000 is a good value for our home, so kept it at this amount.

Cars and Boat

I drove a total of 17 miles in the past month compared with 1,086 in January. My wife drove 260 miles compared with 1,059 miles in January. That is crazy to me. Meanwhile, the value of our cars dropped $1,802 for the month while our boat increased by $205.


We paid off an additional $2,459.30 in the last month across our three debts.

Credit Cards

Although we continue to use our credit cards on a regular basis, we continue to be diligent to keep our balances at $0.00 both during and by the end of each month.

Car Loan

Only 8 more $600 payments at 0% interest until no more car payments. It seems even sillier having car payments when I am not even driving my car, but at least we paid off $600 of the debt.


We have 8 years 7 months (103 payments) to pay off the remaining $157,784.24 balance. We paid $1,334.12 against the principle last month.

Student Loans

We have 22 years 10 months (274 payments) to pay off the remaining $202,235.13 balance. We paid off $525.18 against the principal last month.

Savings Rate

We continue to calculate our savings rate, which I started calculating in February 2020. Here are the resulting calculations for the month. This was about the same as the April 2020.

  • 32.94% – Percent of Debt Payments / Income earned
  • 13.06% – Percent of Personal Retirement Savings / Income earned
  • 3.94% – Percent of Employer Retirement Savings / Income earned
  • 17.00% – Percent of all Retirement Savings / Income Earned
  • 49.94% – Percent of Savings + Debt Payments / Income Earned

The debt payments are for our home mortgage, my car, and Dr. SoS’s student loan. The savings is only what I and my company contribute to my company 403b and HSA, excluding any cash savings.


As of the first day of May 2020, we are up 1.30% to a new high of $654,973.78 from our net worth of $646,596.25, from April 2020, and up 15.28% from our net worth of $568,155.58, from May 2019.

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.

Thank you for reading!

Mr. SoS

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