For anyone that has not seen this done before, I hold myself accountable by posting my net worth progress for everyone to see. You can view the full last quarter break down here.
After much internal debate, I decided to provide quarterly updates instead of monthly moving forward.
Brexit talk has dominated the media coverage and has caused a major financial disruption in almost every market. Unless you were heavily invested in gold or real estate you got smacked the last few trading days.
Echoing the rest of the personal finance community, keep on investing through the down turns. For those of you that panic during market drops, put your blinders on and tough it out! Times like this is why you Dollar Cost Average.
Lets take a look at the numbers!
This is a little deceiving since I switched from reporting monthly to quarterly, moving forward it will be a lot more accurate comparison.
- We are buying another round of company stock on July 1st – which accounts for the big jump in the ESPP rows. Thanks to the market tanking we will be getting the stock cheap.
- All of our accounts increased even with the recent drop in the market, mostly because our contributions covered the losses and the market was on FIRE before last Friday.
- I love seeing those debt numbers drop over a full quarter
- 13.19% increase over 2.5 months is solid, as our Net Worth grows, this number will drop unless we find a way to save a ton more money
- Next month I should have enough in our Acorns account to start including it on this report!
- This is a good thing for my wife’s vision, but LASIK is expensive so it goes in the negative for financial reporting. She loves it though so we are both happy.
- We had to tap into some of our savings for a few dental/medical bills not 100% covered by insurance
If the markets stabilize over the next quarter we could be in the 6 digit net worth club the next time we report! Not all that impressive, but I will take the extra digit.
- We hit our 401K contribution goals for 2016!
- We have raised our income 5.5% so far this year – I have a pending raise in process that could push us over the edge
- Our Emergency Fund remains on track
- Hit our 35% savings rate goal
- Increase monthly payments by 10% – Epic fail so far
- Increase combined contribution to $5,500 – We are a ways behind on this one right now, we didnt increase it right away and now need catch up contributions
- Develop a Passive Income Stream – this blog is far from passive right now, but I hope it will payoff eventually
- I increased my life insurance by 80K, still need to update Mrs. AE’s (50% done)
- Working on a huge landscaping project, summer is already half over, I need to get it together!
- The housing market is red hot in MN, we are looking to buy a house to flip and the prices are insane. That wont be happening this year.
Take Action: If you aren’t already, start tracking your net worth and your savings rate! Set some financial goals for the rest of 2016. If you already tracking your net worth – how are you doing and how much have the markets helped/hurt you?