Monthly Update – September 2020 ($455,120.70)
Wow it’s been awhile since I’ve created a monthly update. I realized recently that I really missed having my blog and decided to get it all set back up. Before I had it hosted at Hostgator paying a couple hundred dollars per year and had a hard time justifying keeping it going. But now, I have my own server for hosting and it costs very little to keep it running now (basically just electricicty).
Anyways, I’m happy to be back. I don’t even know where to begin since it’s been two whole years since my last update, but I’ll spit out some highlights that have happened since then.
- We sold our house back in August 2020. We really wanted to have some more land and our .13 acres just simply wasn’t cutting it. We were able to sell it for roughly $50,000 more than we paid for it, and ended up with a total of $105,000 from the sale. This is pretty significant because outside of normal mortgage payments (with an extra $100 each month), we originally only put down $4,500 on the first house, and ended up with $105,000 in our pocket.
- We’re officially debt free right now! No mortgages, no auto loans, nothing. This won’t last long since we’re building a new home, but pretty sweet nonetheless.
- We had our third child since I last wrote! It’s been a blast having three boys, but man I’m worn out most days.
- My wife had just started a side business when I quit blogging before. It’s now grown significantly and she’s loving being able to build that. (Look for side income reports on that!)
We’re officially debt free right now!
I’m sure there’s even more but those are some of the big highlights.
Let’s get into the numbers.
Our net worth has really increased these last couple years and we barely focused on it. We’ve had an increase of $101,725.90!
This is really the power of:
- Automation (investing each month without me focusing on it).
- Compound interest.
From a high level, our net worth is at $455,120.70. Here’s the overview:
Let’s break it down by category.
Our retirement accounts make up the bulk of our investments. But we’ve also had some nice gains with gold and silver lately. I had purchased a few ounces of gold back in 2014 or so at $1,100 an ounce, and now it’s shot up to over $1,900. I still don’t considering holding gold as an investment per se, but more as insurance.
Our cash is a lot higher right now than I would like, but this is due to selling our property two months back and waiting for our new home to be built. I would like to invest this and earn a higher return, but it’s too risky considering we will need the cash in less than 6 months.
My job income has been pretty stable and hasn’t increased in quite awhile. So in order to give ourselves a raise, I’ve been focusing on dividends more recently. We received $436 this months in dividends!
All in all, I’m happy to be back and sharing again. I hope these posts inspire others to steward good financial habits, and hopefully I’m able to learn more as well. Leave a comment below and let us know how you’re journey has gone these last couple years!