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.
This net worth update unlike the others is being written from a hotel in NYC, a different world compared to the midwest where I live. The differences are staggering and I have to hold back in many conversations as to not focus on those differences too much. When people complain of their small apartment or expensive rent it’s hard not to speak up and tout the benefits of living in a smaller, more affordable city. I’ll be here for the next week and then after being home for a couple of days will continue my travels to France for work. March is certainly going to be an interesting month.
It has officially been a year since I began tracking my net worth publicly. Last year we started off with investments of $302,187 and a net worth of $439,483. As you’ll see below our investments have climbed to $459,345. Our net worth currently stands at $590,949. Our investments increased more than both of our salaries combined (before tax). The last year was clearly a pivotal year in our wealth building. Although anything could happen I feel pretty good with what we’re at. A year from now I am hoping we are at a point where we can begin making some decisions to improve our lifestyle as opposed to focusing on growing our investments even more. I think a lot about what we need to scale back and I’m sure many people would say we could do so immediately, but my mind is not quite there yet. Therefore I have tried to set some rough goals as to where I’d like to be before we scale back work. They are as follows:
- ~$600k investments
- Paid off single family rental (current debt ~$37k)
- New roof on personal home
Mr.QCI Net Worth
Cash: ~$8,000 (+$4000)
P2P Lending: $25,223 (-$1,173) – I am reducing my allocation to p2p which will be directed towards paying off my rental property, purchasing a new roof or investing in my taxable account.
401k: $48,566 (+$3,438)
Vanguard Rollover IRA: $77,229 (+$2,393)
Vanguard Roth: $33,632 (+$1,203)
Vanguard Taxable: $92,300 (+$2,896)
Individual Stocks/Other Investments: $2,072 (-$97)
HSA (amount invested only): $14,671 (+$923)
Total Investments: $293,693 (+$9,583)
Assets (Zillow estimated): $371,408 (+$0) – 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: $422,297 (+$13,583)
Miss QCI Net Worth
Cash: ~$3,000 (+$1,000)
401k: $66,325 (+$4,217)
Vanguard Roth IRA: $29,604 (+$1,970)
Rollover IRA: $4,181 (+$149)
Vanguard Taxable: $65,542 (+$2,277)
Total Investments: $165,652 (+$8,613)
Net Worth: $168,652 (+$9,613)
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): $459,345 (+$18,196)
Projected retirement income (assuming 4% rule): $18,373
Net Worth: $590,949 (+$23,196)