One of the main purposes of this blog is for me to track my progress to financial independence which I am well on my way to achieving. Each month I share the details of all investment accounts and the changes from the previous month.
Note: if you’re just joining us you can view my most recent net worth update here.
Happy New Year! This is by far the most exciting part of the year. In our household we celebrate 3 holidays around this time: Christmas, New Years and the holiday I call Roth IRA Day. Roth IRA Day is a holiday worth celebrating and I’ve even convinced a friend to join us in celebrating. To participate, all you need to do is to make your yearly contributions to your Roth IRA. Our goal is to max out both of our Roth IRAs as soon as we can. I am pretty close to having my $5500 saved so I will likely max mine out in January. Mrs.QCI will contribute over the next few months as the paychecks roll in.
While my update in November had us crossing the $400k mark, the upward trend continued into December as Q4 dividends hit accounts (another reason to celebrate this time of year). I also updated my mortgage debt since it is the end of the year to get a clearer picture of our net worth. This month we crossed the $550k mark in net worth and my optimistic projections have us crossing $550k in investments by the end of 2017. We’ll see what 2017 brings!
Mr.QCI Net Worth
Cash: ~$10,000 (+$0)
P2P Lending: $26,326 (-$128) – I am making some adjustments here which is why the balance decreased.
401k: $42,961 (+$2,377)
Vanguard Rollover IRA: $73,852 (+$3,749) – Partially due to a pension rollover from my previous employer ($1800).
Vanguard Roth: $26,396 (+$608)
Vanguard Taxable: $81,767 (+$2,286)
Individual Stocks/Other Investments: $2,051 (-$77)
HSA (amount invested only): $12,931 (+$605)
Total Investments: $266,284 (+$9,420)
Assets (Zillow estimated): $372,053 (+$1794) – I don’t necessarily trust Zillow estimates, but this is what I am reporting for now. I continue to make minimum payments on all of my mortgages. You can see my real estate holdings here.
Liabilities (3 Mortgages): ~$250,804 (Updated: January 2016 – I plan to update this every 6 months or so, but I pay down about $6,000 of debt every year)
Net Worth: $397,533 (+$14,731)
Miss QCI Net Worth
Cash: ~$4,000 (+$1,000)
401k: $59,163 (+$2,986)
Vanguard Roth IRA: $25,460 (+$460)
Rollover IRA: $3,956 (+$70)
Vanguard Taxable: $62,012 (+$1,425)
Total Investments: $150,591 (+$4,941)
Net Worth: $154,591 (+$5,941)
Miss QCI, my wonderful significant other continues to crush it as well. She puts 50% of her income into 401k (the max allowed by the company) and still has room to invest in a taxable account. The company she works for now offers after tax contributions which will allow her to roll over those after tax contributions into a Roth IRA once she leaves the company. I learned about this from the MadFientist who has been a great resource over the years.
Investments (what really matters): $416,875 (+$14,361)
Projected retirement income (assuming 4% rule): $16,675
Net Worth: $552,124 (+$20,672)