This is the first Net Worth update I am doing as a Dad!
Obviously the last 3 months flew by for us, but I am loving being a parent (most of the time 🙂 ). We are in the process of switching from Mrs. AE staying home for 12 weeks to going back to work full-time. Little AE is heading out to daycare 4 days a week (Mrs. AE is working 4 – 10 hour days so she gets an extra day home) and it has been quite the adjustment. Getting an infant fed and changed every morning will take some getting used to.
A little background before we get into the numbers.
- Mrs. AE only collected roughly 60% of her pay for 12 straight weeks
- We are still in the process of paying for all the hospital bills. Shocker! The first two sets were wrong! Multiple hours of research and calls to the insurance company/hospital makes Mr. AE an angry bear.
- I have been poo’ed on more times in the last 3 months than the previous 28 years combined (assuming the first 2 years of my life I did it to myself)
For anyone that has not seen this done before, I hold myself accountable by posting my net worth progress for everyone to see. I firmly believe there is more value in setting and tracking goals, but like to check in on our progress quarterly.
Let’s strip off our financial clothes and take a look at the bare bum numbers!
Net Worth Breakdown
Considering our circumstances, a $15,000 increase is pretty impressive, but I need to put a big ole’ stinky asterisk next to about $2,000 of it. We accumulate money for our ESPP (Employee Stock Purchase Plan) from Jan-Jun and all of that money hits our Net Worth Statement on July 1st. So some of that increase is from Q1. #Transparency.
Almost a 10K investment/cash jump in one-quarter is lower than last quarter but this is to be expected with reduced paychecks. Our goals for Q3 are to get back up to our previous saving levels. Ambitious, but possible.
- More Stock Market Power
- The continuation of a hot stock market helped cover for our diminished saving/investing rate. Been hearing a lot of buzz about a coming recession or correction. Our plan doesn’t change, either way, if it happens we will continue to invest and take advantage of the dip.
- 401K Contribution
- I bumped up my 401K contribution again at the end of April to match my yearly raise of 6% and the change is noticeable. On track to put $16,112 away this year!
- Student Loans
- Dropped another $4,472 off my student loans, $1,600 came from selling ESPP shares (15% profit in 9 months)
Again, not a lot to complain about 🙂
- Storm Damage
- I wrote about the significant storm damage we incurred a few weeks ago, it amounted to over $20,000 in repairs. We are still waiting on the checks and to get on the schedule for repairs. I am going to type a full post about our experience. This process was new to me and I am assuming others will benefit from my experience.
- Extra Medical Bills
- We got hit with an extra bill I wasn’t expecting for about $800, $600 of which was a deductible for Little AEs hospital stay after delivery. I haven’t figure it out yet, and am frankly tired of calling around to figure this shiz out.
2017 Q2 Goal Check In
We broke goals out for Q2, knowing it was going to be a tougher quarter financially.
- Continue making a double Student Loan Payment
- Passed! I have a new Student Loan Tracker on the right side of the site, under a year!
- Continue investing in my accounts at the same percentage:
- 401K (16% of income)
- Passed! Even upped this to 19% after my yearly raise.
- Roth IRA ($110/Paycheck)
- Employee Stock Purchase Plan (5% of Income)
- Continue Brokerage account contribution ($50/Paycheck)
- 401K (16% of income)
Lots of green makes goal reviews easy
Looking forward to Q3 we will have to play catch up on all of Mrs. AE’s health insurance payments and start paying $185 a week for daycare. Hopefully, we can catch up quickly and establish a new normal without any major unexpected costs.
- RockStar Feature – I was featured on Rockstar Finance for my Cheap-Assery!
- FinCon! – 4 Months out, I need to get my plane tickets figured out and start planning to meet all the amazing bloggers in person. I ordered a mask so I will look like the picture on this site.
- Lots of Blog Changes – I implemented a new theme last quarter and have made a ton of changes since then. Still not 100% where I want it, but it is getting closer.
- Traffic – The Rockstar bump helped, I am experimenting with Pinterest as my traffic tanked from there over the last few months.
How did your Q2 go?
As you are reading this there is a pretty good chance I will be floating on a kayak fishing at a cabin. It might take me a little longer to reply to comments. Please have a safe and amazing 4th of July week for all my friends in the US. #FreedomBaby