Net Worth Update: December 2017

While our journey actually started when we got married end of December 2016, I spent the whole year researching and setting up accounts for us. I didn’t start blogging till end of the year and finally started this in December of 2017. With the Million challenge underway, here is our December 2017 net worth update.

Also note that I originally wrote about how you need to save up for 2 retirements. These updates are to fund our first retirement.

December 2017 Expenses:

Item Cost
Necessities/Dog $229.96
Tea/Coffee $8.25
Eating Out $379.77
Groceries $138.17
Clothes $0.00
Other $113.87
Travel $0.00
Gas $143.26
Monthly Bills (mortgage, HOA, etc) $1522.27
Total Spending $2,535.55

Key Things to Note:

This month has been one of our better months where we cut down on eating out partly because we worked every weekend up to Christmas doing our side gigs. We were also very good about not going shopping. Also, normally our travel expenses are a lot higher as we pre-plan most of our following year’s travel in December, but with so much going on, we decided to put that off. We also have a few friends who want to travel with us, so we’re also waiting for them to sort out their plans before we purchase tickets.

December 2017 Net Worth:

According to Personal Capital, our net worth is $430,350.

Cash $74,745
Investments $90,410
Zillow Home Est $422,277
Mortgage $156,820
Credit Card $262
Total Net Worth $430,350

Key Things to Note:

  • Zillow estimates our condo to be worth $422,770; however, I find that hard to believe…they might be over-estimating by about $50K.
  • Our 12/31/17 CD expired and dumped it into our savings account. Normally, I do not hold that much cash to begin with.
  • Will not be including 401K since we should not be liquidating that until at least 59 and half.

So far, I feel like we’re doing pretty well for year 1. Although, I’m not really sure about including our Zillow estimates into this calculation, because I do plan to continue living there while in retirement and probably rent it out while we’re traveling. So, I feel like the net worth is inflated. What do you guys think?

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