We paid off some debt, we made some money in the market, and our net worth is up to a new high. Let’s take a look at how it all turned out, but first a word from our sponsor. I mean a word of inspiration…
Net Worth: 2018-07-01
|Cash Back/Gift Cards||$1,826.76||10.8%|
|Cars & Boat||$47,239.00||-1.0%|
|TOTAL NET WORTH||$436,222.36||10.3%|
In an effort to sell off our last stock and get out of the market fully, we are up $40,708 from last month. There are only a few ways that this would be possible and the stock market is one of them.
We are up an amazing $3,471.18 from last month, which is the highest our cash and savings have been since we began recording our net worth in May of last year. As I mentioned last month, our plan is to increase the balance in our Synchrony High Yield Savings account by at least $500. This last month we increased it by $700.
Cash Back/Gift Cards
We used the cash back balance of our Chase Amazon.com card last month to buy a gift for our youngest son, Mr. O. We took on a new credit card this past month that gave us a $150 bonus, so even spending some of our balance we are up $177.99 from last month.
After selling the last stock in our brokerage account, we transferred $5,548.92 back to our checking account and made a large payment on our HELOC. Unfortunately, our Crypto account is down $1,990.19 from last month. I keep wondering if this account will end up going to $0 proving how poor of an investment this was. Only time will tell.
As I moved our money out of the market, I placed a few covered calls. These generated $9,838.87 after commissions and fees for the month. In addition to that, we sold some shares at a profit and are working to sell the last stock we own. The total increase in our retirement accounts was $36,817.77 for the month. Since we own one last stock, our balance could go up or down in the months to come, but hopefully they just go up as we continue to move to cash.
In addition, my 403b and 401a were in the following:
|40%||FXSIX||FID 500 INDEX INST||Large Cap Stock Investments|
|40%||VTSNX||VANG TOT INTL STK IS||International Stock Investments|
|12%||FSTPX||FID MID CAP IDX INST||Mid-Cap Stock Investments|
|8%||FSSSX||FID SM CAP IDX INS||Small Cap Stock Investments|
I moved everything including future deposits into the following:
|100%||VMFXX||VANG VMMR-FED MMKT||Short-Term Investments|
Although this only accounts for $6,385.12 of our retirement, I did this to move out of the market during this uncertain overvalued time.
With the market slowing down this account only increased $181.20 despite the fact that we put $200 into the account. We moved the money from the Vanguard Aggressive Growth to Vanguard Interest Accumulation. This is another “move to cash” move for us.
Home sales are slowing a bit on the lake. I bet this is due to the huge increase in prices. Everything is up except for the median home price. Here are the recent home estimates for our zip code.
|Xome Home Estimate||$359,969||16.1%|
|Zillow Home Estimate||$304,101||2.2%|
|Average Home Estimate||$332,035||9.3%|
|Median Home Price||$274,000||-2.1%|
Cars & Boat
We are down another 1% this month on our depreciating assets. My wife’s car took the biggest hit this month dropping in value 3.2% whereas my son’s car went up in value by 3.7%. My guess is that lesser expensive cars are becoming slightly more valuable as more people buy lower priced cars.
We have a new credit card with a $2,200 balance on it at 0% interest for 15 months. I set the card up to pay $200 per month automatically. We have one other card with a $1,000 balance that has 0% interest for another 10 months. We set the automatic payment at $250 per month, so we will have it paid off in another 4 months. Then we plan to snowball that $250 per month toward our HELOC.
Not much to say. We have 30 payments or 2 years 6 months to go paying $600 per month, which is more than the average new car payment. This is a sad truth.
HELOC (Home Equity Line Of Credit)
We planned to pay off 15% of the loan, but we managed to pay off 17.5% reducing the balance by $5,815.77! Dr. SoS wants to remodel the house, but I told her that we should just save up the money to remodel and not pay the 5.5% interest that our bank charges to loan us the money. What do you think?
We have 124 more payments or 10 years 4 months to pay off our house. We pay off 0.7% each month. I look forward to the day when this gets to over 1% per month. I calculate that it will be another 4 years before we begin paying off 1% of our loan each month.
Slow and steady wins the race? We made our regular monthly payment which reduces the balance by 0.1%. Since this has the lowest interest, this is our least concern.
As of the first day of July 2018, we have a net worth of $436,222.36 up 10.3% from the June 2018 net worth of $395,514.36 and up 49.0% from our July 2017 net worth of $292,683.62. Our current net worth puts us in the top 37% at 224/602 bloggers on the Rockstar Finance Directory Net Worth Tracker.
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Keep saving and swimming!