Net Worth: 2017-12-01

Wow! It’s December already. Luckily, we experienced some nice warm days here on the lake. We hope you are staying warm where you are.

Our net worth increased 0.4% since last month. We would have been at our normal average 2.5% increase per month, but one of our stocks took a substantial dip due to a poor earnings call. It happens.

“The money is made in investments by investing, and by owning good companies for long periods of time. If they buy good companies, buy them over time, they’re going to do fine 10, 20, 30 years from now.”

“If they’re trying to buy and sell stocks, and worry when they go down a little bit … and think they should maybe they should sell them when the go up, they’re not going to have very good results.”

~ Warren Buffet during an interview in March 2016 with CNBC

We follow Warren Buffet’s advice and only own wonderful businesses that should provide a substantial return over time. Now how about those details?

NET WORTH: 2017-12-01
Cash Savings $13,495.84 13.8%
Cash Back $853.34 24.1%
Brokerage $35,267.70 0.6%
Retirement $437,070.90 -1.9%
MOST 529 $3,362.46 6.5%
House $303,000.00 0.3%
Cars & Boat $49,646.00 -1.4%
TOTAL ASSETS $842,696.24 -0.7%
Credit Cards $3,400.00 -75.5%
Car Loan $22,500.00 -2.6%
HELOC $45,000.00 12.2%
Mortgage $195,099.16 -0.6%
Student Loans $220,351.74 -0.1%
TOTAL LIABILITIES $486,350.90 -1.5%
TOTAL NET WORTH $356,345.34 0.4%

Care to know more about the what, why, and how of these numbers? Keep reading…

Cash Savings
We continue our upward trend with a significant increase in our cash in the amount of $1,635.63. We hit the highest balance yet this year since Mr. SoS was paid for his retirement. It may dip some in the near future as we pay down debt, but it is great to have more money in the bank.

Cash Back
You can tell Xmas is near as our cash back leaped by 24.1% up $165.88 from last month. We should do an entire post on which cards we use, but here is how we make such significant cash back.

Not much changed from last month. One of our stocks was still down, so we did not place any options covered calls.

One disadvantage about managing your own retirement is that you take the chance that you go against the market and decrease when you should be increasing. We are in for the long haul, though, even if we are down $8,654.92 since October.

MOST 529
This is a good indicator of the market We only deposited $150, but are up $205.39.

After much deliberation, we are once again changing how we are estimating our home value. Last month we averaged our estimates from Xome and Zillow, but even that has a tendency to create huge swings in our net worth. We really do not think our home value changes that frequently, so decided to compare against recent home sales instead. Mr. SoS’s sister is a real estate agent. He had her send comps from around the lake. We took all the comps, threw out the highest and lowest, and averaged the rest and came to an amount of $303,000. How does this compare with the average between Xome at $323,510 and Zillow $298,958? It is less since the average is $311,234, but at least it will stay the same until next July.

Cars & Boat
We are down $687 from October. Amazingly, the biggest drop was from Dr. SoS’s 2011 KIA Sorento.

Credit Cards
If you remember last month, we had some serious balances! Our new balance is $3,400, which is a far cry from the $13,878.17 from October. This is comprised of two cards which are at 0%. We pay more than the minimum, but are not in a great hurry to pay them off since the companies were so gracious to loan us money for free. Chances are these will be paid off soon, though, as we really do not like to have any debt.

Car Loan
Only 37.5 payments or 3 years 2 months to go.

HELOC (Home Equity Line Of Credit)
So some crazy stuff happened this past month. Dr. SoS sold her equipment for $5,000. We used that to pay off a credit card that was coming off 0% on December 15th. Then we ended up borrowing another $5,000 from our HELOC. We will pay it back sooner rather than later. The reason we have the debt on our Heloc rather than on credit cards is because until they change the tax law we can claim the interest on our taxes. We plan to make it a focus to pay this off in 2018.

Only 131 more payments or 10 years 11 months remaining to go.

Student Loans
Once we pay off the Heloc, this will be the next set of loans to go.

As of the first day of December, we are up to a net worth of $356,345.34 from October’s total of $354,905.09. This puts us at 193 / 466 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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