It’s that time again! I like net worth updates and restarted them early last year. Posting them pushes me to try harder, I am also forced to actually check, and I started blogging so I could share with all of you and get feedback.
Net Worth Update – April 2016
Cash (in all checking and savings accounts) – $94,550 (+$6950)
Stocks – $17,650 (+$375)
Retirement – $146,750 (+$3750)
Home – $306,000 (same)
Rental House – $122,000 (same)
Cars – $15,500 (-$500)
Home – $194,700 ($300)
Car – $10,700 ($300)
Total Net Worth = $497,050
Last Month: $485,875
Total Monthly Change: +$11,175
Woot! The extra cash was just from a good month with pet sitting and our online business finally hitting again at the same time. We’re still waiting for the tax court to contact our tax lawyer and for the whole mess from the 2013 taxes to be done once and for all. Then we’ll know if we will get anything back from our $5000 retainer. Our CPA is finishing our taxes now, so we’ll know that bill plus what we are getting refunded within the next week.
Our stocks and retirement accounts that are invested in stocks all bounced back a little chunk too, yay! Our home values are pretty spot on right now thanks to the official evaluations we just had done, and those held up for the appraisal district this year too! Might have a year where I don’t have to protest our property valuations!!! Our car values are based off of Kelley Blue Book.
Overall, I’m optimistic for 2016. I’m much happier with our aim for at least $500,000 by the end of the year with the BIG goal set at $550,000.
How have you been doing lately? What are your short-term and long-term financial goals?
PS I have been asked why we don’t use our cash to pay off our car loan. The car loan is at 0.9% interest and we will be using our cash for $40,000 of padding (about 6 months of expenses) and will most likely be trying to fully fund a SEP IRA for 2015 in the next week and then will start working on that same SEP IRA for 2016.