Hey fellow geeks! Well, this month was pretty exciting because I tried out a new investment, and it caught fire. Overall, our net worth increased by a whopping $14,000! Check it out:
Over the last three months, our net worth has increased by $34,566 (+8.64%), growing from $400,257 to $434,823.
Currently averaging $9,400 of monthly growth for 2017.
We’re still on track to reach half million dollar in 2017. Still waiting to see how the markets fair.
Let’s cover the changes by category.
Change in Assets
Cash – I invested $6,000 cash into crypto currency (see below for how much it grew)! We also went to Disney World (spent a couple hundred bucks), did some charitable giving, and paid property taxes on our home. Overall, cash decreased by $7,563.55 (-49.23%).
Coverdell ESA – We’re putting away the standard ESA max amount of $2,000 spread over 12 months. As usual, we added our own $166.66 (+2.23%); however we saw market growth of $105.22 (+1.38%).
Brokerage Accounts – Ok, so things get a little hectic in this area because I sold stock valued at approx. $6,787 and bought a crypto currency called Ethereum (ETH), which is why you see a “Crypto Accounts” line item now.
We added $3,300 of our own cash to these accounts last month. We experienced about $2,101 (+3.13%) of stock market growth.
Something to note here is that I’ve been trying to actively invest money lately, and it has resulted in real returns. For example, within the brokerage accounts, I bought 8 tech stocks for $4,000 a few months ago, and today they are worth just over $5,000. If I hadn’t purchased these stocks, well that’s $1,000 less net worth. I’m not suggesting that you buy single stocks or crypto, but I am saying that actively investing in markets you understand can be beneficial.
Crypto Accounts – I invested roughly $12,800 (excluding $215 of fees) into cryptocurrencies, and those currencies are altogether worth about $18,700. This represents organic growth of $5,900 (+46.09%)!
It’s pretty volatile and quite risky, but I’m looking for other avenues to build wealth quickly, and crypto is an up-and-comer with huge potential, based on my reading.
Retirement Accounts – We added $2,366 (+1.40%) of our own cash (including my employer match) to these accounts. We saw about a $4,030 (+2.38%) increase, $1,664 (+0.98%) of which was due to stock market growth.
Home – The real estate market in my area still isn’t doing much. Overall, sales prices in my market decreased by 5% last quarter. Want to buy some cheap real estate? 🙂 Email me.
Cars – I use straight-line depreciation for my cars since I don’t like having to look up my car values each month. I’m using my cost as well as a 15 year usable life for each car. Since I buy my cars between 5 and 10 years of age, this should be more aggressive than actual value depreciation. It amounts to -$118 each month.
Personal Property – Nothing new to report here.
Change in Liabilities
Credit Cards – I have scheduled payments for my credit cards. We are trying the whole travel rewards game now, so we’re still working out the kinks of buying everything on the one card and then paying it off by end of month.
- We are currently saving about $5,832.66 a month
- We saw stock and crypto market growth of $9,770 in May
- We live on about $2,820 a month (including healthcare premiums)
- That’s $33,840 annually
Do you have any questions or feedback for me? Please leave a comment below. Also, if you enjoy this content, subscribe to get a weekly digest. I’m working on some tools that I used while getting myself out of debt, and I plan to share them with my subscribers.
Until next time!