Monday, July 23, 2018

June 2018 Net Worth Update - Up to $809k

June was a pretty quiet month for us. We didn’t travel anywhere and also didn't do any major home repairs (just a little bit of paint). With the kids out of school, it has been nice to just spend time together. Financially we continued our normal cadence of investing and paying extra on our mortgage, allowing our net worth to increase to $809,000


CASH

In June, our cash balance crept up over $21k. The majority of this is in a savings account where we like to keep at least $20k. I also net out our cash with credit card balances since we pay them in full every month.  

HOUSE/MORTGAGE

In June we made another big mortgage payment, reducing our outstanding balance by over $2,700. We should be completely done paying off the mortgage within 3 years, and to stay motivated I try to celebrate the small wins like when we hit new increments of $10k, $25k, or $50k. Homes in our neighborhood are now selling for well over $500k, so the estimate here feels conservative.

INVESTMENTS

Our investments have not changed, shocker right? I met with some co-workers recently and compared investing styles and returns and they were surprised that even though I spend much less time than many of them on researching investments and trading, our returns are very similar (in some cases, mine were better). 

I have a demanding job and rarely have time during market hours to focus on my portfolio. Since I don’t want to delegate portfolio management, a passive investing approach works best. I’ve used many different trading strategies but so far have not yet found a positive correlation between returns and the time I spend managing my accounts. 

1 comment:

  1. A great slow and steady month for you in a positive direction. Savings is up, debt is down and the rest is from the market.

    May seem boring, but this is exactly how big wealth is created over the long haul.

    Keep up the great work!

    ReplyDelete