It’s been 54 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 54th update on the progress of the goal. If you’re wondering why we set this goal, click here.
The past month has been a blur. Work, kids, sleep, repeat. There really isn’t much to update this month.
We are still patiently searching for a new house and talking to contractors about renovating our current house. My parents are still preparing to list their house in RI. No major updates here yet.
I finished my 5th of 7 courses for the UVA CFP program. I’m planning on taking a break for one semester and finishing up my last two courses in the Spring and Summer of 2021. I have Income Tax Planning and Capstone left. This was our first semester completely online. I definitely prefer in-person classes.
I was able to write one post with some content this month:
Tips for Buying a House in a Seller’s Market
There are a bunch of posts I want to write for real estate. I’m hoping to post one at least every month or two now as I feel I’m telling a lot of my clients the same things. If you have any suggestions on something you want me to write about that’s related to real estate, comment below or email me at realtordannylee@gmail.com.
That’s all for this month.
Here’s this month’s update:
Net worth calculation
Total Assets: $1,209,015.96
Primary residence: $585,000
Cash and cash equivalents: $249,968.49
Investments (including retirement): $374,047.47
Total Liabilities: $415,512.17
Mortgage on Primary Residence: $415,512.17
Net worth = $1,209,015.96 – $415,512.17 = $793,503.79
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 $7,612.51 to $793,503.79.
| 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 |
| 7/21/2020 | $168,738 | $367,661 | $249,493 | $785,891 |
| 8/19/2020 | $169,488 | $374,047 | $249,968 | $793,504 |
Graphic: Canva / Jenny Hwang