November 2014 net worth update (+4.8%)

31-Dec-2013 31-Oct-2014 30-Nov-2014 MoM YTD
cash $13,500 $6,600 $8,200 +$1,600 -$5,300
savings $27,400 $31,400 $52,100 +$20,700 +$24,700
investments $134,600 $165,200 $166,600 +$1,400
+0.8%
+$32,000
+23.8%
mortgage $187,600 $148,400 $147,700 +$700
+0.5%
+$39,900
+21.3%
net worth $345,900 $504,800 $529,200 +$24,400
+4.8%
+$183,300
+53.0%
taxable assets – debts $121,700 $85,600 $62,200 +$23,400
+27.3%
+$59,500
+48.9%
$ until FI $823,900 $825,500 $845,000 +$19,500
+2.4%
+$21,100
+2.6%

I got a bonus this month and tossed it into my savings account. My taxable assets are now worth only $70,400 less than my mortgage, which does make it sound like it’s possible to pay off the mortgage next year :)

This month was a bit expensive. I saved all of my bonus except for the current X% for charitable donations, as well as the principal from the regular mortgage payment. That was it. I’m not forecasting to save anything from December’s paycheck either, but it should cover all expenses until I get a paycheck from my new job (more on this in the upcoming weeks). I’m expecting my December net worth to be +$1,400 and my January net worth to be +$500 from December.

Expenses: I spent $5,221 in November (ignoring work reimbursable expenses) after the mortgage or $4,194 without it. So far, my total spending for 2014 is $43,625, which is $47,590 annualized. I estimate spending $2,280 in December, for an overall 2014 spending estimate of $45,905, which would be an increase of $1,135 from 2013 or an average of $95/month.

Some of my controllable expenses broke down as follows:

  • $256 Entertainment/Social [average this year: $210, last year: $224]
  • $16 Eating out by myself [average this year: $16, last year: $25]
  • $235 Groceries [average this year: $194, last year: $152]
  • $119 Work lunches [average this year: $146, last year: $77]
  • $389 Presents – about half of my Christmas shopping [$733 so far this year, $379 last year]
  • $40 Internet – yay for split internet :)
  • $0 Household goods [average this year: $18, last year: $29]
  • $426 Medical and vision bills (took these out of my HSA)
  • $20 Eyebrows
  • $25 Make-up
  • $42 Toiletries – shaving cream, delicate washing soap, migraine pills, hand lotion [average this year: $26, last year: $31]
  • $82 Accessories – two hats and a scarf
  • $196 Furnishings – a speaker for the spare bedroom
  • $37 Electronics – some more rechargeable AAs and AAAs
  • $57 Fuel [$212 so far this year, $354 last year]
  • $19 Taxis
  • ~$1,900 Flights for an upcoming overseas trip :)

Cash: $8,200 (up $1,600)

There is a small (well not that small today, but small compared to my overall net worth) amount of money in a joint checking account now and I’m choosing for now to not count it in my net worth at all. Some items I’m counting as spent when I transfer the money to the joint account and some items I’ll tally up at the end of the month and sort of virtually count in my own spending? I’m (we’re) still figuring that out. It’s in progress.

Savings: $52,100 (up $20,700)

  • 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.

This month, I closed the Chase savings account and consolidated all of my savings accounts at my credit union for simplicity. (And a small bonus!) Savings is much larger than I usually keep it. I’m going to adjust this once I start my new job, evaluate its benefits fully, and make a 2015 savings plan.

Investments: $166,600 (up $1,400 or +0.8%)

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: $147,700 (down $700 or -0.5%)

Some statistics here:

  • 2.5%: the interest rate on my 5/1 ARM
  • January 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
  • 30.1%: portion of my regular payment went to interest (originally was 59%; down 0.1 percentage points)
  • 58.7%: amount of equity in my condo, assuming purchase price (up 0.2 percentage points)
  • 48.4%: amount of the mortgage I’ve paid down (up 0.3 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: $529,200 (up $24,400 or +4.8%)

I ended 2013 with a net worth of $345,900, so I’ve seen a change of +$183,300 or +53.0% 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.

November 2014 Net Worth Graph

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15 thoughts on “November 2014 net worth update (+4.8%)

  1. I’m cheering for you to have that mortgage paid off next year! Go Leigh Go!!!

    Where are you planning to visit overseas?

    All the best,
    The Stoic

    • Thanks!! I think it is about 90% possible with my current projected savings plan for next year, but if I find myself with access to more tax-advantaged space than I had thought, I will likely re-think it. I only say 90% because I don’t know what the timing of cash flow will look like and I’m only scheduled to have $5,000 more than the mortgage balance in taxable assets at the end of 2015.

      I’ll talk about the overseas trip a bit more soon :)

  2. You are killing it- good job! It does look like you can pay off your mortgage next year. Do you plan on staying there? Not that it matters- it would be nice to pay it off either way.

    • Thanks! It is definitely looking possible, which is quite exciting. I’ll keep tracking against this throughout the year.

      I don’t know how long we’ll stay in my condo. We have no plans to move cities in the next few years and neither of us are big on moving, so so long as my place is big enough for the two of us, I don’t foresee us moving in the next few years. I’ve already lived here for almost 2.5 years now, which is pretty awesome!

        • LOL. Mine was only about half of that before taxes, but I still wasn’t willing to walk away from it. And there’ll be a comparable signing bonus at the new job ;) Plus a raise!

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