It’s been 46 months since we set a goal to pay off the mortgage (on our condo) and to have a net worth of at least $1M by 2020. This is the 46th update on the progress of the goal. If you’re wondering why we set this goal, click here.
This is the last update of 2019, which means it includes the 2019 Year-End Net Worth Totals and the y/y (year over year) increases.
2019: $755,396 (+$113,219)
2018: $642,177 (+86,096)
2017: $556,081 (+$118,077)
2016: $438,004 (+$126,420 from Feb. 2016)
It’s interesting to see what happens over the years. We went from dual-income to single income in the middle, which seems to have hurt a little. However, as my income increased and our money (investments) started working for us, the net worth increase is almost back to the dual income levels. We pay less for childcare now, and I’m earning a little more in my side hustle as a realtor. We are no longer on track to be “millionaires” by 2020, but frankly, I don’t care as much anymore.
I think what got me started on this whole financial independence journey was always having to worry about money growing up and not being able to spend time in the ways I wanted. That, and being in debt after college and knowing I wouldn’t get any financial help from my parents. Now, I feel like we are somewhat financially stable/comfortable. I hope to spend some money next year traveling and spending some more time with my kids and family. We are traveling to Hawaii next month and are hoping to go to California at some point next year. I want to take at least one international trip to give my son some perspective outside of this affluent northern Virginia bubble.
Oh, I won $1,000 in restaurant credit at Sheesh this month! It’s a kabob restaurant in the area that opened up recently. I participated in a contest that they had, and I won. You get points for following their social media accounts, for having purchased house accounts, and for some other things. I had purchased multiple house accounts with them, so I got a lot of points from that. I would describe the house account as a prepaid discounted credit. For example, you pay $200 and get $300 worth of credit at the restaurant on an app. If you’re interested in opening a house account or checking it out, here’s my referral link. If you use my link and purchase a house account at Sheesh, let me know (mrfrugalee@gmail.com). I’ll send you a little something 😉 Since we already had purchased a good amount of credit, my wife wasn’t so excited to hear we had another $1,000 (she was starting to get sick of kabobs). We agreed to give most of it away. We treated the teachers at my son’s preschool to a luncheon, took out some staff members at our church for lunch, and I was able to gift my real estate clients with some Sheesh credit. It’s fun to spend money, but I think it’s even more fun to be able to give generously.
I’ve been continuing to train for the Revel Kulia Marathon next month. I signed up for the McMillan Run Team, and I’ve been getting some coaching. My coach is having me do some challenging workouts, but surprisingly, I’ve been getting through it. I think losing some weight and being consistent has definitely helped.
I forgot to take into account the difference in temperature in Hawaii. It will be about 30 degrees warmer in Hawaii. My “A” goal is to run a 3:30-3:35, my “B” goal is to run a new PR (3:39:17 or better), and my “C” goal is to run under 3:50. It’s over a mile of downhill, and according to this site, it’s the fastest marathon in the US. Check out this elevation change!
Elevation Chart
Max Elevation: 5393 feet (1644m)
Min Elevation: 35 feet (10m)
I feel like 2020 is going to be a good year. I’m not sure why, but I just feel it.
That’s enough for today. Here’s this month’s update:
Net worth calculation:
Total Assets: $1,045,395.52
Primary residence: $570,000
Cash and cash equivalents: $9,547.19
Investments (including retirement): $465,848.33
Total Liabilities: $290,000
Mortgage on Primary Residence: $290,000
Net worth = $1,045,395.52 – $290,000 = $755,395.52
All of our debt is mortgage debt on a 30-yr fixed 3.25% mortgage on our primary residence.
Net worth progress:
Tracking your net worth is a good way to assess your financial health and see how you’re doing each month. I use Personal Capital to help me track my net worth. I highly recommend it.
Net worth = assets – liabilities, or everything we own minus everything we owe. I’m not including our cars here, which are both paid off, to keep the calculation a little simpler. I am including an estimate of home equity.
I am using my knowledge as a realtor to provide estimates of value for our real estate.
Our net worth increased by $5,981.88 to $755,395.52.
| Date | Home equity | Investments | Cash | Net Worth |
| 2/19/2016 | $140,695 | $149,076 | $21,813 | $311,584 |
| 3/19/2016 | $145,519 | $164,791 | $23,512 | $333,822 |
| 4/18/2016 | $150,007 | $171,697 | $17,457 | $339,161 |
| 5/17/2016 | $153,000 | $171,305 | $21,672 | $345,978 |
| 6/20/2016 | $160,100 | $174,881 | $23,094 | $358,075 |
| 7/19/2016 | $162,000 | $185,621 | $27,689 | $375,311 |
| 8/22/2016 | $163,000 | $192,479 | $24,437 | $379,916 |
| 9/20/2016 | $261,403 | $144,694 | $3,657 | $409,754 |
| 10/27/2016 | $261,806 | $151,425 | $5,735 | $418,966 |
| 11/21/2016 | $262,855 | $155,877 | $10,364 | $429,096 |
| 12/19/2016 | $264,290 | $162,281 | $11,432 | $438,004 |
| 1/19/2017 | $285,534 | $172,862 | $8,751 | $467,147 |
| 2/17/2017 | $286,865 | $178,666 | $12,980 | $478,511 |
| 3/17/2017 | $286,718 | $181,893 | $18,413 | $487,023 |
| 4/19/2017 | $290,196 | $184,580 | $16,472 | $491,247 |
| 5/15/2017 | $290,941 | $189,092 | $11,453 | $491,487 |
| 6/19/2017 | $293,950 | $187,627 | $21,135 | $502,712 |
| 7/17/2017 | $301,391 | $196,288 | $19,292 | $516,971 |
| 8/17/2017 | $312,523 | $195,913 | $21,981 | $530,417 |
| 9/19/2017 | $320,769 | $200,956 | $16,914 | $538,639 |
| 10/19/2017 | $326,848 | $204,144 | $10,283 | $541,275 |
| 11/20/2017 | $328,010 | $210,841 | $11,490 | $550,340 |
| 12/19/2017 | $334,171 | $213,215 | $8,695 | $556,081 |
| 1/18/2018 | $335,335 | $216,656 | $8,074 | $560,064 |
| 2/20/2018 | $336,502 | $218,847 | $12,813 | $568,162 |
| 3/20/2018 | $337,672 | $223,416 | $16,135 | $577,223 |
| 4/19/2018 | $339,365 | $229,208 | $26,035 | $594,608 |
| 5/16/2018 | $346,063 | $235,332 | $22,790 | $604,185 |
| 6/19/2018 | $349,393 | $247,582 | $24,915 | $621,889 |
| 7/19/2018 | $355,604 | $251,277 | $25,325 | $632,207 |
| 8/20/2018 | $358,819 | $248,135 | $21,200 | $628,155 |
| 9/19/2018 | $366,555 | $247,659 | $17,269 | $631,483 |
| 10/19/2018 | $367,799 | $249,039 | $18,821 | $635,660 |
| 11/19/2018 | $370,187 | $252,190 | $20,452 | $642,829 |
| 12/19/2018 | $371,441 | $247,785 | $22,951 | $642,177 |
| 1/18/2019 | $372,698 | $261,805 | $15,612 | $650,115 |
| 2/19/2019 | $381,959 | $269,694 | $12,227 | $663,881 |
| 3/19/2019 | $415,207 | $272,318 | $4,209 | $691,734 |
| 4/22/2019 | $180,686 | $407,082 | $116,846 | $704,614 |
| 5/17/2019 | $184,560 | $469,911 | $52,925 | $706,596 |
| 6/18/2019 | $205,000 | $469,992 | $24,516 | $699,508 |
| 7/19/2019 | $225,000 | $467,139 | $21,911 | $714,050 |
| 8/19/2019 | $240,000 | $466,210 | $17,344 | $723,554 |
| 9/19/2019 | $249,884 | $469,070 | $9,127 | $728,081 |
| 10/21/2019 | $261,638 | $453,285 | $21,236 | $736,159 |
| 11/21/2019 | $270,000 | $467,615 | $11,799 | $749,414 |
| 12/19/2019 | $280,000 | $465,848 | $9,547 | $755,396 |
Graphic: Canva / Jenny Hwang
Congratulations on hitting the 3/4 of a million mark! I know you are shy of your goal, but as you mentioned, there comes a point where some things are worth more than money! Best of luck going into 2020 – I have a feeling it will be a great year too!
Thanks! And thanks for following along.