So I’m pretty involved with a non-profit organization called Young Life. Last night we had our first Young Life Club event of the year for the local high school we do outreach at. We had about 100 kids come out for our Country Western themed club. We square danced, played games, sung some songs, and I even had the opportunity to perform a skit for them. Young Life is all about making kids feel included, and I hope that through my crazy character “Chatterbox Charlie”, they were able to forget about all the stresses of life and be kids again. Here’s a little picture of my costume…
Yeah totally irrelevant to my following net worth update, but how could I not share such a gem of a picture with you all
Cash: $26,497; +$893
We’ve been cutting checks left and right as we continue towards making our house a home. We’ve added a handful of new light fixtures, are in the process of having the basement re-carpeted, we spent two weeks painting our kitchen cabinets, and have added a few new furniture pieces. To be honest, I’m surprised we’ve seen any growth at all with how fast we are burning cash
Roth IRA: $41,918; +$347
I imagine by the time you read this post, my Roth IRA will be back at a negative gain for the last 30 days since the government is shut down as of today, and I expect the stock market will take a dump on itself. I guess it was nice seeing the $347 gain while it lasted. haha
401Ks, IRAs, etc: $74,359; +$2,925
Still trying to throw massive amounts of cash in my 401k while I can. Our cost of living expenses have increased now that we have this pesky little thing called a mortgage, but I don’t want to forgo saving for retirement. It would be nice not forfeiting $700+ a month in discretionary income, but I’m pretty sure 65-year-old Ninja will be highly appreciative of 28-year-old Ninja’s commitment.
House: $321,300 -$35,700
For the first time, I’m including our house on the Net Worth chart as an asset. I still don’t really know how to best go about assessing it’s value. I get frustrated when bloggers decide to put the market value of their house as their asset value. PEOPLE, taxes, sellers commissions, fees, etc are not cheap. Your house might be worth $400,000, but if you sold it tomorrow for that amount, you’re likely only going to net $360,000 after you’ve paid everyone what they’re due. For now I’m just using what we paid for the house, minus 10%, as the asset value. Hence, the reason I said a $35,700 loss.
At this point in my life, I have NO PLANS to begin paying my mortgage down early. For a few reasons.
- Our monthly payment is affordable and will only get more affordable as appreciation takes over.
- Our interest rate is 4%. The stock market is up 15% on the year. Would way rather be investing at a 15% return on investment, than 4%. My mortgage would have to be around 7% before I really felt like I needed to begin tackling the interest.
- Lastly, and really the ONLY reason I wont be paying down my house anytime soon. In the event of a job loss, a paid for house doesn’t put food on my table. If I’m not brining money in (job loss, medical issue, etc), I need to have adequate savings and short-term investments built up to carry us. How can I build up my investment portfolio if I’m throwing all my cash at the mortgage? Answer: I can’t.
Credit Card: $3,789 (change not reflected since balance is paid off each month)
Paid off a $6,000 balance just a few days ago and we still have $3,789 coming up on this next billing cycle. I can only express my thoughts in form of hashtags….
So after all is said and done, our new net worth stands at $195,562. Didn’t think it was possible, but looks like we might get away with buying a home, and breaking a $200,000 net worth all in 2013. Just a few more months to get there, but you can call me The Little Engine That Could because “I think I can, I think can, I think I can.”
You can see all of my net worth updates here.