September 2014 net worth update (+0.1%)

31-Dec-2013 31-Aug-2014 30-Sep-2014 MoM YTD
cash $13,500 $6,000 $6,900 +$900 -$6,600
savings $27,400 $25,000 $28,100 +$3,100 +$700
investments $134,600 $167,800 $163,400 -$4,400
+2.6%
+$28,800
+21.4%
mortgage $187,600 $149,900 $149,100 +$800
+0.5%
+$38,500
+20.5%
net worth $345,900 $498,900 $499,300 +$400
+0.1%
+$153,400
+44.3%
liquid assets – debts $49,000 $100 $2,200 +$2,300
woo!
+$51,200
+104.5%
taxable assets – debts $121,700 $93,300 $89,300 +$4,000
+4.3%
+$32,400
+26.6%
$ until FI $823,900 $841,500 $833,500 -$8,000
-1.0%
+$9,600
+1.2%

I barely eked out with an increase this month! You can blame the stock market for that and for my not surpassing $500,000 this month. But! My liquid assets are now worth more than my mortgage :)

I saved 60% of my net income this month! I’m now at 72% so far for the year.

Expenses: I spent $3,185 in September after the mortgage or $2,158 without it. So far, my total spending for 2014 is $34,457, which is $45,942 annualized. My current spending estimate is $42,190 for 2014, which would be a decrease of $2,600 from 2013 or about $220/month.

Some of my controllable expenses broke down as follows:

  • $48 Dresses – bought two dresses for a bachelorette party and another eShakti dress (this one finally fit!)
  • $55 Shoes – repairing my leather boots
  • $143 Entertainment/Social [average this year: $206, last year: $224]
  • $5 Eating out by myself [average this year: $16, last year: $25]
  • $264 Groceries – for two people [average this year: $208, last year: $152]
  • $109 Work lunches [average this year: $150, last year: $77]
  • $119 Presents – a gift for a friend’s bridal shower [$340 so far this year, $235 last year]
  • $55 Internet – we’ll start splitting this next month, so this will go down
  • $14 Household goods [average this year: $22, last year: $29]
  • $20 Eyebrows
  • $34 Toiletries – over the counter products instead of going to the doctor [average this year: $22, last year: $31]
  • $0 Fuel [$129 so far this year, $302 last year]
  • Sport #1 annual cost
  • $362 Travel – two trips! I should be done traveling for the remainder of the year though, woo!

Savings: $28,100 (up $3,100)

These funds are spread across a Chase savings account, a general online savings account, a checking account that gets free ATM fees anywhere in the world, and my health savings account.

I’ve decided to keep the Chase savings account open even though I could now close it with no penalty as it has come in handy a few times, for example to get a deposit rather than a statement credit for credit card rewards and then immediately send them to the mortgage. Plus, it is only the opportunity cost on $300, which at the Ally online savings account rates loses me $2.55/year.

Investments: $163,400 (down $4,400 or -2.6%)

This includes my Roth and Traditional 401(k), my 401(k) employer matching (fully vested!), my Roth IRA, my taxable investments including stock index funds and Series I Savings Bonds.

The change here comes from:

  1. Stock market losses, with some dividends
  2. No contributions (status quo for the rest of 2014)

My 401(k) is no longer worth over $100,000 thanks to the stock market this month. Oh well!

Mortgage: $149,100 (down $800 or -0.5%)

Some statistics here:

  • 2.5%: the interest rate on my 5/1 ARM
  • February 2018: when the interest rate on my mortgage is set to reset, possibly to 7.5%
  • 0: months of payments eliminated with this month’s pre-payments
  • $0: extra payments made on the mortgage this month
  • $0: interest this month’s extra payments will save me on the next regular payment
  • 30.4%: portion of my regular payment went to interest (originally was 59%; down 0.3 percentage points)
  • 58.3%: amount of equity in my condo, assuming purchase price (up 0.2 percentage points)
  • 47.9%: amount of the mortgage I’ve paid down (up 0.2 percentage points)

This was a pretty boring month for the mortgage as I just made the automatic required payment. I’m already scheduled to be about $15,400 ahead of where I need to be at the end of 2014 to pay the mortgage off before the rate resets in 2018! I’m reasonably confident that I won’t hit my stretch goal of $91,284.28 for the end of 2014, so at least I am comfortably on track to pay it off before the rate resets.

TOTAL: $499,300 (up $400 or +0.1%)

I ended 2013 with a net worth of $345,900, so I’ve seen a change of +$153,400 or +44.3% so far this year. I’ve set the y-axis on this graph to $465,000 so we can see how my net worth grows towards that throughout the year. I have now surpassed my original y-axis of $465,000 (!), so I’ve increased it to $550,000, which is my new estimate for the year.

September 2014 Net Worth Graph

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8 thoughts on “September 2014 net worth update (+0.1%)

  1. Yes I enjoy months like this… I wish we would get several in a row… or a market reversal so I can continue to buy all the way down… The market has been on fire and while I love constant gains… They can’t last forever and I want it to slow down so I can buy in at a lower cost basis.

    I know you have big goals to pay the mortgage off… I have put my mortgage payments on the minimum and a little extra but diverting all of the rest into the market rather than paying off the debt… the 3% interest is quite cheap to borrow from… NICE WORK!!

    • My mortgage payments are on a minimum right now while I stockpile a bit more cash in case I switch jobs. I’ll do something with the extra cash once things settle again. I want to stick to the plan though, especially since maybe I’ll be in my condo past the rate resetting. I’ll live vicariously through you investing in these market drops though :)

    • Yup, if I lost my job and rolled my 401(k) over to an IRA, I could pay off the mortgage in entirety. Kind of cool, but I would be reasonably unlikely to actually do that. It would bump me up at least a tax bracket, which my calculations on liquidated values assume.

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