October 2014 net worth update (+1.1%)

31-Dec-2013 30-Sep-2014 31-Oct-2014 MoM YTD
cash $13,500 $6,900 $6,600 +$900 -$6,600
savings $27,400 $28,100 $31,400 +$3,300 +$4,000
investments $134,600 $163,400 $165,200 +$1,700
+1.0%
+$30,600
+22.7%
mortgage $187,600 $149,100 $148,400 +$700
+0.5%
+$39,200
+20.9%
net worth $345,900 $499,300 $504,800 +$5,400
+1.1%
+$158,900
+45.93%
taxable assets – debts $121,700 $89,300 $85,600 +$3,700
+4.1%
+$36,100
+29.7%
$ until FI $823,900 $833,500 $825,500 -$8,000
-1.0%
+$1,600
+0.2%

I finished paying Social Security tax this month, which was a nice little bump in my paycheck and will give me a few extra hundred dollars to save from my paycheck in the remaining months of the year. I’m still just putting the savings from my paychecks into a savings account until I’ve sorted out the job situation fully. All in all, I saved 58% of my net pay this month.

It appears that I am now a half millionaire! It seems pretty crazy, though I don’t really feel any different than I did before pay day which pushed me over the marker. It’s pretty cool what a few years of saving a large portion of a high income can do.

Expenses: I spent $3,947 in October after the mortgage or $2,920 without it. So far, my total spending for 2014 is $38,404, which is $46,085 annualized. My current spending estimate is $42,675 for 2014, which would be a decrease of $2,132 from 2013 or about $178/month.

Some of my controllable expenses broke down as follows:

  • $26 Hemming some pants
  • $50 Jewelry – three cute necklaces
  • $109 Shoes – replacing my worn out pair of running shoes.
  • Total: $185 Clothing/shoes
  • $208 Entertainment/Social [average this year: $206, last year: $224]
  • $12 Eating out by myself [average this year: $16, last year: $25]
  • $32 Groceries – mostly fancy chocolate [average this year: $190, last year: $152]
  • $135 Work lunches [average this year: $149, last year: $77]
  • $4 Presents – card for a friend’s wedding [$344 so far this year, $280 last year]
  • $19 Internet – yay for split internet :)
  • $0 Household goods [average this year: $20, last year: $29]
  • $67 Electricity – August/September [$681 so far this year, $603 last year – rates went up about 7% year-over-year]
  • Property taxes – second half
  • $22 Medical bills
  • $20 Eyebrows
  • $39 Toiletries – cold medicine and vitamins [average this year: $24, last year: $31]
  • $22 Furnishings – a small desk for rearranging furniture
  • $26 Fuel [$155 so far this year, $302 last year]
  • $13 Taxis – from working late a few days
  • $107 Vehicle tabs renewal (annual cost, $20 less than last year)
  • $45 Travel – some books to research for future trips

Savings: $30,100 (up $3,300)

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, my health savings account, and a savings account at my credit union.

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: $165,200 (up $1,700 or +1.0%)

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. Small stock market gains
  2. No contributions (status quo for the rest of 2014)

Mortgage: $148,400 (down $700 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
  • 30.2%: portion of my regular payment went to interest (originally was 59%; down 0.2 percentage points)
  • 58.5%: amount of equity in my condo, assuming purchase price (up 0.2 percentage points)
  • 48.1%: 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: $504,800 (up $5,400 or +1.1%)

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.

October 2014 Net Worth Graph

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9 thoughts on “October 2014 net worth update (+1.1%)

    • Yes and same with August. I adjusted it in July for 3% per year over two years and then in August adjusted it to what I could sell it for.

    • $13 was two taxi rides. They’re pretty cheap here and I usually don’t take them very far, just when the bus isn’t super convenient. No, my employer gives us a public transit pass and subsidizes parking, but not taxis. They really should since it’s cheaper for me to taxi to and from work than to park at work all day.

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