January 2014 Net Worth Update

by Evan

I can’t believe it has been almost 3 years since I started tracking my net worth on my personal finance blog.  Every month I take a look at my assets and expenses, as well as, a quick look at my short term financial goals.

My Short Term Financial Goals

To keep myself focused I give myself smaller $5,000 goals.  Not all the goals end up on my balance sheet, but will directly affect my family’s finances.  I finally finished my latest $5,000 goal (started it in June) they were:

  1. Contribute $500 to my Traditional IRA
  2. Save $500 into my Son’s 529
  3. Save $1,000 in cash towards a future investment property purchase
  4. Invest $1,500 into my Dividend Portfolio
  5. Save up $750 to allocate to my whole life insurance policies
  6. Save $750 in the house repair fund

Once completed I decided against leaving cash in an investment property “bucket” so I took that money and put it in my dividend investment fund.  Similarly, I decided to take the money for my whole life insurance and do the same.

My new goals are:

  1. Save $500 to emergency fund
  2. Save $750 to Vacation Fund – The Wife just booked our trip to Disney (May)
  3. Save $2,000 to Dividend Fund
  4. Save $500 to Son’s 529
  5. Save $750 to Traditional IRA
  6. Save  $500 to home improvement fund

Calculating my Net Worth

My Assets

  • My Cash Savings Accounts – I only really count my emergency savings since everything else is ear marked to be spent elsewhere.  For example, the above house improvement fund is not included, but the funds I have saved (plus some) will be converting the house from oil to gas next month.
  • My 401(k) – Just keep throwing part of my paycheck at my 401(k) even though I sort of hate my 401k.  This past month I made the decision to put my 401(k) contributions in cash until the markets cool down.
  • Random Non-Qualified Investment Accounts
  • The Wife’s Roth IRA – This account only holds to 2 funds. An index fund of the market and a dividend paying fund.
  • My Dividend Investment Portfolio – Easily my favorite part of my financial empire hut.  Like always, I updated my dividend champion watch list.  For the first time, a few months back, I made the proactive move of selling a dividend champion that is overvalued.
  • Home Value – A lot of bloggers seem to stress over home value.  In my old place I just rounded to a number that I thought I’d sell for (I was off by less than 1%).  Last year (I bought the house in Jan of 2013) I just used my purchase price – think I am going to do it for 2014 again.
  • My Traditional IRA – Have been trading using my covered call strategy, but I have waived the white flag on the strategy and just finished up betting against my first stock.  This account is going to be pure passive by the end of the year hopefully.  I started to actively trade this account lol.

My Liabilities

  • My Mortgage – Every so often I think about putting money towards the mortgage but I always back off.
  • Law School debt – While I recently paid off the much smaller of the loans I have a while before this category makes any significant moves.
  • Credit Card debt!

My Net Worth Growth

  • From December 2013 to January 2013 my net worth increased a healthy 4.03%!  
  • In 2013 my net worth increased 8.42%


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Mel January 8, 2014 - 10:24 pm

I love your $5,000 savings goals. That seems like a healthy but do-able chunk of money to me and I’d never though to break it down that way.

Evan January 22, 2014 - 1:54 pm

Thanks Mel, glad you like it.


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