Tuesday, July 2, 2013

Net Worth Update - End of Second Quarter 2013

Approximate value of our house: $201,152*  (+$23,330 since last quarter)
Roth IRA: $28,704  (+$640 since last quarter)
Simple IRA: $5,637 (+141 since last quarter)
Regular IRA: $2,656 (+$1,071 since last quarter)
Lending Club: $211 (+$2 since last quarter)
Savings (including emergency fund): $28,531  (+$4,987 since last quarter)

*Estimation from Zillow
Total assets: $266,891 (+$30,171 since last quarter)

Mortgage: $174,909 (-$1,524 since last quarter)

Total net worth including our house: $91,982
Difference since last quarter: $31,695

I have been debating whether or not to include the value of our house in these estimates, and while I am very happy to see our house supposedly increased in value by over $23,000 in just three short months, I just don't know if I can believe that. I'm thinking I may just need to start doing these updates without the house value to get a more accurate measurement of my net worth. I don't include other non-cash assets like our cars or TVs so I probably shouldn't include the house either... But the one difference is those things are paid off and we are in debt with the house, so if I don't include the value of the house, does that mean I also should not include our mortgage liability? I feel like if I don't include what we owe on the mortgage then that also is not a good representation of what my net worth is either. Maybe there is a part of me that doesn't like the see a negative net worth if I were to ignore the house value, but include the mortgage on this net worth update. I also have been leaving off my husband's 401(k) (which I think has close to $80K in it), so I guess technically that is not giving me a very accurate reading as well.

So here are the numbers ignoring the house. I think I'm going to look at that ugly negative net worth value and that will be motivation to try to get it to a positive number!

Roth IRA: $28,704
Simple IRA: $5,637
Regular IRA: $2,656
Lending Club: $211
Savings (including emergency fund): $28,531

Total assets: $65,739

Mortgage:  $174,909         

Total net worth not including the house:  -$109,170

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