Home Personal Situation May 2014 Net Worth Update

May 2014 Net Worth Update

by My Journey to Millions

I selfishly come back to this site a day or two after a new month to update and share my net worth growth (or loss).  Why is it selfish? I don’t think readers other than the few who, have taken a vested interest in my success, get a whole lot out of these net worth posts.  Notwithstanding net worth posts force me to account for the previous month and refocus on goals and objectives.

My Short Term Financial Goals

To keep myself focused I provide myself with short term $5,000 savings/investing goals.  I say “short term” but really they stay alive as long they need to until I complete each objective on the list.  Not every item makes it way to my net worth growth.  For example, my vacation fund, son’s 529 and home improvement fund are not found on my balance sheet.  These goals were created in January of this year so I am 120 days deep.  Completely unacceptable that I haven’t completed these yet!  Too much of my income is going to spending/lifestyle!    

By the end of the next month there is no doubt that I’ll be done with these goals.

  1. Save $500 to emergency fund – Been at 100%
  2. Save $750 to Vacation Fund – Been at 100%
  3. Save $2,000 to Dividend Fund – 40.25% to 54%
  4. Save $500 to Son’s 529 – 15% to 20%
  5. Save $750 to Traditional IRA – 6.67% stays the same
  6. Save  $500 to home improvement fund – Been at 100%

I think come June or July I am going to have to use this blog as a way to track and control spending.  Hold me accountable!

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 soon (see my calculations behind converting from oil to gas).
  • My 401(k) – Just keep throwing part of my paycheck at my 401(k) even though I sort of hate my 401k.  For the past few months I have been buying and selling within this account…pure market timing.  I keep eeking out a small return as compared to the overall market.
  • 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.
  • 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%).  I am just going to keep using my purchase price for a while.
  • My Traditional IRA – I started to actively trade this account lol.  Not proud.  Speculating in some really shitty stocks.

My Liabilities

  • My Mortgage – Every so often I think about putting money towards the mortgage but I always back off.
  • Law School debt – A while back I 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 April 2014 to May 2014 my net worth increased 1.15% (the days of double digit gains are long ago!)
  • Year to date I am up 5.52%

How was your month?

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Roadmap2Retire 05/02/2014 - 8:12 am

1.15% growth in net worth is still good, MJTM. Congrats on the progress

Best wishes

Evan 05/16/2014 - 11:12 pm

Thanks RM2R…been frustrating recently b/c I am not making the gains I feel like I should be!

CBB 05/02/2014 - 5:45 pm

I agree that is a great growth that you have had. I wonder the same thing about my Net Worth posts but now that our mortgage is paid I’m not sure what approach I will have with that monthly post.

Evan 05/16/2014 - 11:13 pm

Congrats on paying off your mortgage! It seems like such an unattainable goal for me right now.

A Frugal Family's Journey 05/11/2014 - 12:27 am

I can relate to your sentiments on slow progress. Although we don’t currently post monthly updates of our family’s net worth on our blog…our net worth has only grown 3.58% year-to-date. But looking at the brighter side, we are still on pace for a 10.74% (3.58 x3) annual growth!

Keep at those short-term goals as they will allow you to hit your long-term goals!

Evan 05/16/2014 - 11:15 pm

I think my frustration is that I feel like I should be doing better…do you think 10% is adequate? or do you think you could do better?


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