May 2017 Net Worth Update

I just got back from a work trip, but wanted to make sure I kept up with my tradition of monthly net worth updates. Our May 2017 Net Worth increased by $6,470 to $664.267. 

May 2017 Net Worth Summary

Cash

Our cash balance went down slightly this month. We had to spend >$300 pumping out our septic tank and also spent most of the month on a low carb diet, which increased out grocery bill a bit more than normal. In May, we also paid for the materials to install a fence in the backyard. Now that school is out in our area, we’ve been wanting to allow the kids to play outside with less supervision and this will allow that. In the not-too-distant future, we may also be tearing down our deck and pouring a concrete pad in its place. None of these projects really will make a significant dent in our cash, but they will slow our growth and delay our acceleration of mortgage reduction. I expect our cash will stay around these levels for the next couple of months.

In May, we also paid for the materials to install a fence in the backyard. Now that school is out in our area, we’ve been wanting to allow the kids to play outside with less supervision and this will allow that. In the not-too-distant future, we may also be tearing down our deck and pouring a concrete pad in its place. None of these projects really will make a significant dent in our cash, but they will slow our growth and delay significant mortgage reduction. I expect our cash will stay around these levels for the next couple of months.

Because our accounts were hacked, my direct deposit was rejected on 5/31. Our old account numbers have all been closed and I missed the deadline by one day to have payroll make my deposit go to the new account. I’ve been out of the office but am told that there is a check on my desk for when I get back. These numbers assume that my paycheck had already been deposited. I feel blessed that missing a paycheck by a couple of days doesn’t really impact our lives like it would for many Americans.

Investments

The S&P 500 earned 1.16% in May and our investments continue to be primarily tied to that index. We had a little scare with some fraudulent activity in our accounts. Someone sold all our index ETFs and bought another stock. Everything is now resolved as if it never happened.

Most of our index funds are invested in ETFs. Whereas mutual funds can only be bought or sold at the end of the day, ETFs trade throughout the day like stocks. I like the flexibility of ETFs, but in reality, I don’t place many trades. I am considering changing to traditional index mutual funds ever since we were hacked. So far I haven’t made any changes but am open to suggestions.

Cars

Our cars continue to depreciate slowly but really nothing too exciting is going on in our garage. The only thing I really did this month was to change the oil and get a new antenna.

House

Similar to previous months we paid extra on our mortgage this month, decreasing our mortgage debt by about $1,100. The house value according to Zillow came down slightly, but overall our home equity increased. I’m excited to start paying A LOT more extra principal payments. Before we can do that, we first need to increase our cash and finish some home improvement projects.

529 College Savings

Our automatic investment to this account was missed this month because our accounts were compromised. I’ve since corrected this, but that explains why the account didn’t grow by as much as it has in previous months.

Summary

May was another pretty good month for us and June is already off to a great start. We are still on target to hit our 2017 Net Worth goal. I continue to be blown away at how quickly things have accumulated.

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