Happy Labor Day weekend and belated August net worth update. I’ve been super busy the past couple of days out of town and wanted to get this posted before too much more time passes.
August was another great month for our net worth, which increased nearly $13k to an all-time high of $576,261. There are only a few more month in the year, but hitting $600,000 net worth by year-end feels within reach. Most of the increase this month was from our house, which Zillow estimates increased in value by $9k. It still feels reasonable since there have been homes selling in our neighborhood for closer to $500k, and has previously been in this price range.
CASH: Our cash stayed about the same as last month. I’d like to keep our cash between $20-25k for the time being and we’re sitting right in the middle of that range.
INVESTMENTS: Nothing too exciting here either – we didn’t see much growth outside of our normal monthly contributions, and didn’t make any changes to investment allocations or locations.
CARS: Nothing too exciting here either. I expect our cars to go down in value a bit each month but they don’t have much more value to lose. The cars are worth more to me than Kelly Blue Book says they’re worth and we have no plans to sell or replace either in the immediate future. That being said, I just hit 190,000 miles on my car and know it will eventually need to be replaced. For now though, it is still driving fine and only requires regular maintenance. I’m hoping I can make it until 2018 or later before I need to get a new one.
MORTGAGE: We continue to make extra payments on the mortgage and have our sights set on getting the balance below $200k. Each year, we get our tax refund about the same time as my year-end bonus pays out and these lump sums are used for retirement contributions, charitable donations, and the rest towards the house. We’ve done some Roth IRA conversions this year that will reduce our tax refund, but my year-end bonuses are looking like they’ll make up for it.
I’ll end again with this historical view. Looking at this always helps me to remember how far we’ve come and to reflect back to the different stages of life and sacrifices that were made to get to this point.