July 2017 Net Worth Update: $442,545 (-$7,678)

Welcome back for a tantalizing net worth update. Well, this month was decent in terms of growth of stock accounts, but most of my cryptocurrency holdings took a pretty hefty dive. In addition, Zillow knocked the valuation of my home down by seven grand. Ouch:

High-Level Analysis

Over the last three months, our net worth has increased by $21,724  (+5.16%), growing from $420,821 to $442,545.

One year ago, our net worth was $352,976.

It’s fun to look back at the progress we’ve made over a year’s time! Kinda makes my butt hurt a little less.

This brings our monthly average growth down from $10,412 to $7,827 for 2017.

We’re now off-the-tracks for HALF-MILLIONAIRE! status in 2017.

It’s fine. I’m fine. We’re fine.

Let’s cover the changes by category.

Checking Accounts

We had income of around $6725, and since we are using mainly credit cards, and that bill hasn’t been paid yet, our cash looks higher. But $2,000 is spoken for, so it should really be about $8,000 in cash.

Health Savings Account

This is a pre-tax account designed specifically for health care expenses. We contribute the maximum allowable $6,750. Thanks to my employer for contributing $900, we only have to send in $5,850, or $487.50 per month.

Our goal is to have this account grow to the same size as our out-of-pocket maximum for our health insurance plan, which currently happens to be $13,000.

This means that, under our current insurance plan, the max we would ever be responsible to pay would be $13,000. Our insurance plan should cover the rest (as long as it’s covered under our plan). So the HSA serves as the stop-gap.

Coverdell ESA

We’re putting away the standard ESA max amount of $2,000 spread over 12 months.

  • Contributions: $166.66
  • Gain/Loss: $50.04 (+0.62%)

Brokerage Accounts

  • Shares Bought: $150
  • Gain/Loss: $2,139.5 (+3.17%)

Notes: In March of 2017, I split $4,000 into eight chunks of $500, and bought eight different tech stocks. Today, they’re valued at $5,489! Those were:

  • ATVI – Activision Blizzard Inc
  • EA – Electronic Arts
  • MSFT – Microsoft Corp
  • NFLX – Netflix Com Inc
  • NVDA – Nvidia Corp
  • SNE – Sony Corp
  • TTWO – Take-Two Interactive Software
  • TCEHY – Tencent Holdings Limited

Crypto Accounts

  • Coins Bought: $0
  • Gain/Loss: -$11,357.94 (-40.34%)

Well, Ethereum took a dirt nap in July so that was fun.

It dropped as low as $145, and ended the month in the $190’s.

Here’s my issue as a young investor: I get scared and stop buying. To be fair, I didn’t have extra cash to spare.

But ETH jumped up to $320 this past week (in August) so you can see the potential gains. Warren Buffet says to be greedy when others are fearful.

If you’re interested in a guide I’m writing on how to invest in crypto, please let me know by signing up for the waitlist.

But crypto is a dangerous game.

If you are in debt, please do not play.

If you cannot afford to straight-up lose the cash, do not play!

Retirement Accounts

I really like the You Index that Personal Capital gives you because it shows your personal rate of return for a given period of time.

If you are interested in a neat net worth tracking tool, click here to give it a try.

I still like to use spreadsheets, but Personal Capital gives me a quick and dirty dashboard with cool reports. The history is nice as well, much easier to tweak dates and see graphs change.

  • Contributions: $2,366 (includes employer match)
  • Gain/Loss: $1,974.95 (+1.1%)

Property

Home – Drop from $132K to $125K!!!

Zillow totally pwnd us by dropping the value of our home by seven G’s. Not sure why, not sure that it matters either. We don’t plan to sell for a long time. Still sucks for net worth update purposes hehehehehe.

Cars – The only asset I own that is guaranteed to go down in value. No surprise there! I truly believe that NOT overspending on cars has been key to my success. If you’d like to see exactly what I do to keep cars from ruining my finances, check out these posts:

Personal Property – We haven’t added anything significant to our valuables. This is basically an estimate of the cash we’d net if we opened our home and sold everything in it, and with fairly conservative estimates.

I’d actually like to see this number go down over time, as we learn to spend even LESS money on STUFF. You can read more on my thoughts here:

Change in Liabilities

Credit Cards – I’ve scheduled the payment for July, but it hasn’t gone through yet so I show my liability at just north of $2K.

 

I believe in tackling personal debt, but I’m OK with credit cards if you pay them off each month. You can read a bit about my philosophy on credit cards here:

So That’s It

All-in-all, solid gains in most of my accounts, but crypto punched me in the gut for July. August is already looking better, but we’ll see!

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8 Replies to “July 2017 Net Worth Update: $442,545 (-$7,678)”

  1. This is why I stopped using Zillow to value my home, and just value it at the purchase price. I bought my house 11 years ago, so I know the purchase price isn’t right, but zillow was swinging too far up and down every month. Better luck next month-remember that it’s a marathon, not a sprint!

    1. Yea…It’s always been pretty spot on with very little flux, but this recent correction is kind of ridiculous.

      I like your method just as well. I use straight-line depreciation on the cars instead of KBB.

      Thanks for stopping by. Hope to see you more around these parts!

  2. Reading your Crypto bit reminds me of how hard it is to buy low. I trade options and the majority of the time I bought low and came out ahead.

    Give it a shot. Don’t invest all but a portion.

    -Max

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