It’s been 52 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 52nd update on the progress of the goal. If you’re wondering why we set this goal, click here.
These past couple of months have been a blur. I closed 4 real estate transactions in the past six and a half weeks. I was running around and driving around a lot, but I’m glad to finally be able to slow down a little. I enjoyed being able to serve clients and to be a resource for them in making a major life decision. Even if I retired from the USPTO someday, I think I would still enjoy practicing real estate part-time. It’s a tough job at times, but it is definitely rewarding.
The weather has been really nice lately, so we’ve been able to go to the local beach a couple times. I took my son out for a hike at Great Falls. Also, the playgrounds finally opened back up, so the kids are enjoying being able to go back after a long COVID shutdown.
I’m more than half way through the 5th course out of 7 for the UVA CFP certificate program. The insurance planning class I’m taking isn’t the most interesting class, but there’s a good amount of practical knowledge in there.
My son got into a Korean language immersion program at a local elementary school, so we may be moving soon. I really like our current house and location because it’s walking distance to the elementary, middle, and high school, as well as a shopping center, and we just remodeled our kitchen last year. But, my wife really wants to send him to this program, and you know who the boss is in marriage. 😛 Don’t worry, she doesn’t read my blog. If you know her, don’t say anything! jk I think it’ll be good for our kids to learn Korean too.
That’s all for now. One day, I’ll get back to posting content. But for now, it’ll just have to be these monthly net worth updates.
Here’s this month’s update:
Net worth calculation:
Total Assets: $1,178,143.11
Primary residence: $580,000
Cash and cash equivalents: $235,116.57
Investments (including retirement): $363,026.54
Total Liabilities: $417,009.55
Mortgage on Primary Residence: $417,009.55
Net worth = $1,178,143.11 – $417,009.55 = $761,133.56
All of our debt is mortgage debt on a 7/1 ARM 2.79% 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 $13,770.21 to $761,133.56.
| 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 |
| 1/23/2020 | $296,000 | $464,150 | $7,555 | $767,705 |
| 2/19/2020 | $320,000 | $442,381 | $12,270 | $774,651 |
| 3/19/2020 | $321,022 | $338,115 | $18,339 | $677,476 |
| 4/20/2020 | $161,500 | $542,109 | $28,275 | $731,885 |
| 5/19/2020 | $162,244 | $550,080 | $35,039 | $747,363 |
| 6/19/2020 | $162,990 | $363,026 | $235,116 | $761,133 |
Graphic: Canva / Jenny Hwang