Tuesday, July 28, 2020

June 2020 Net Worth Update

June was yet another good month for our Net Worth. We ended the month up almost $19k to $1.086M. 


Despite having my pay cut due to the COVID-19 pandemic, we've still been able to add to our cash balance and are looking to get this over $40k in the near future. My job still has a lot of uncertainty and while things are becoming clearer, we aren't likely making any large purchases until we are more comfortable that my position is secure longer term (which also hopefully coincides with my pay cut being rolled back). 


Our investments continue to perform with the market and nothing really has changed here. I'm considering doing some additional Roth IRA conversions this year if we do have excess cash but again that's something that would require some more clarity on our financial outlook before we do it. 

It is nice to see our non-retirement investment accounts growing now too. While this could be considered an extension of our emergency fund, our intent is that these investments have a time horizon of 5 years or longer before we would use them. Anything else we plan to spend in the next 5 years we can cover through our normal cash flow. 


Housing in our area continues to sell quickly and we have noticed a few people taking advantage of low interest rates to upgrade their home. I hope for them that it doesn't come back and bite them, but I am loving living mortgage free and haven't even considered going back into debt. 

We've been adding to our 529 accounts as well and will likely continue at this pace for the foreseeable future as we do plan to fund some (but not all) of our kids education using a combination of 529 accounts, cash flow, and non-retirement investment accounts. It's important to have a healthy amount set aside beforehand since we could have up to 3 kids in college at a time.

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