Monday, October 6, 2014

Net worth update - beginning of 4th quarter 2014

I am not feeling well today, so I'm taking my first sick day in nearly 3 years. Unfortunately I don't get paid sick time (one of the negatives of being a temp worker), so I only stay home if I really need to. Anyway, since I have extra time I'll update my net worth for the beginning of 4th quarter...

Assets:
Approximate value of our house: $201,656 (+$14,088 since last quarter) (Estimation from Zillow)
Roth IRA: $39,710 (+$1,322 since last quarter)
Simple IRA: $7,088 (-$102 since last quarter)
Regular IRA: $4,313 (-$215 since last quarter)
Lending Club: $221 (+$1 since last quarter)
Savings (including emergency fund): $42,365 (-$5,649 since last quarter)

Total assets: $295,353 (+$9,445 since last quarter)

Liabilities:
Mortgage: $167,030 (-$1,612 since last quarter)

Total net worth including our house: $128,323
Difference since last quarter: +$11,057

Calculation of my net worth not including the house:

Assets:
Roth IRA: $39,710
Simple IRA: $7,088
Regular IRA: $4,313
Lending Club: $221
Savings (including emergency fund): $42,365

Total assets: $93,697

Liabilities:
Mortgage: $167,030

Total net worth not including the house: -$73,333
Difference of -$3,031 since last quarter

Well it looks like the house value has rebounded a bit. Of course it might have not actually been as low as it said it was the past few months. My cash savings has decreased a bit because I reluctantly agreed to have our siding replaced. Sadly that will be a huge hit to our savings. They quoted us at $25,000. We sent in the down payment of about $8,000, so that is why the savings has decreased. We still owe about $17,000 so I expect the savings to really be low next time I do a net worth update. It looks like the IRA's have decreased a bit since the beginning of last quarter as well. I have added $2,000 to my Roth IRA since the last update, so that is the only reason that is a positive number.

Saturday, July 26, 2014

Net worth update - Beginning of third quarter of 2014

Here is my net worth update as of today...

Assets:
Approximate value of our house: $187,568 (-$7,584 since last quarter) (Estimation from Zillow)
Roth IRA: $38,388 (+$2860 since last quarter)
Simple IRA: $7,190 (+$616 since last quarter)
Regular IRA: $4,528 (+$321 since last quarter)
Lending Club: $220 (+$2 since last quarter)
Savings (including emergency fund): $48,014 (+$2,928 since last quarter)

Total assets: $285,908 (-$857 since last quarter)

Liabilities:
Mortgage: $168,642 (-$1,593 since last quarter)

Total net worth including our house: $117,266
Difference since last quarter: -$736

Calculation of my net worth not including the house:

Assets:
Roth IRA: $38,388
Simple IRA: $7,190
Regular IRA: $4,528
Lending Club: $220
Savings (including emergency fund): $48,014

Total assets (monetary only): $98,340

Liabilities:
Mortgage: $168,642

Total net worth not including the house: - $70,302
Difference of +$8,320 since last quarter

So another quarter and the "house value" has gone down again. I don't know if I believe that though because Zillow is listing a lot of homes around us at around $220,000, so I'm guessing the true value of our house would be closer to that figure. However, our house needs some repairs. About a week ago we noticed the an area of roof/gutters/soffit etc was coming apart. We tried to fix it ourselves, but it looks like we will have to call in a professional. So sadly it looks like some of our savings will be going bu-bye in the next couple weeks. It's nice to see my savings at almost $50,000, but sadly it won't go very far. Here is a list of some expensive stuff that it'll likely get spent on...

Flooring for our basement
We had carpet in basement but we keep getting water in the basement, so we are hesitant to replace it. However the basement in our house is part of our main living space (it's a "split level"). So depending on what my husband decides to do it'll cost between $3,000 and $9,000 to fix that.

Medical bills
My husband decided to have a major surgery done in the next few months, and our maximum deductible is about $5,000. I know they will require several follow ups and pre-surgery doctor visits and that will add up.

Fixing that roof problem
We probably could just get the whole house re-sided while we're at it with the savings we have now, but the husband wants a truck sooner than later, so we'll probably just get the repair done and maybe replace the soffits and fascia for now. Estimate: $1,000 to $5,000.

New truck
Yes new. I disagree, but the husband seems to think getting a brand new one is a good idea. I'm still hoping to find something gently used.  Maybe once we start shopping, he'll realize a new one is out of our budget. Estimate: $20,000 to $30,000

Windows and Siding
We have 3 more windows to replace and my husband wants to have the siding replaced. I'm guessing this will cost anywhere from $20,000 to $25,000.

Saturday, April 12, 2014

Net worth update - Second quarter of 2014

Here is my net worth update as of today...

Assets:
Approximate value of our house: $195,152 (-$19,575 since last quarter) (Estimation from Zillow)
Roth IRA: $35,528 (-$578 since last quarter)
Simple IRA: $6,574 (-$373 since last quarter)
Regular IRA: $4,207 (+$189 since last quarter)
Lending Club: $218 (+$2 since last quarter)
Savings (including emergency fund): $45,086 (+$7,520 since last quarter)

Total assets: $286,765 (-$12,815 since last quarter)

Liabilities:
Mortgage: $170,235 (-$2,097 since last quarter... Note, last time it didn't take the Jan 1 payment into account yet)

Total net worth including our house: $116,530
Difference since last quarter: -$10,718

Calculation of my net worth not including the house: 

Assets:
Roth IRA: $35,528
Simple IRA: $6,574
Regular IRA: $4,207
Lending Club: $218
Savings (including emergency fund): $45,086

Total assets (monetary only): $91,613

Liabilities:
Mortgage: $170,235

Total net worth not including the house: -$78,622
Difference of +$8,857 since last quarter

Wow, did our house value really just drop nearly $20,000 in 3 months? I don't worry about it too much because I don't know how accurate Zillow is. The fluctuation in house's value is the main reason I also compute my net worth not including the "value" of the house. As long as the house is still worth more than the balance on our mortgage, I'm going to not worry about it. So if you look the the second net worth value, I have improved by nearly $9,000 in three months, so I'm pretty happy with that.

Wednesday, January 1, 2014

Net Worth Update - January 1, 2014

Here is the update on my net worth for the start of 2014!

Assets:
Approximate value of our house: $214,727 (-$288 since last quarter) (Estimation from Zillow)
Roth IRA: $36,106 (+$4,631 since last quarter)
Simple IRA: $6,947 (+465 since last quarter)
Regular IRA: $4,018  (+$98 since last quarter)
Lending Club: $216  (+$2 since last quarter)
Savings (including emergency fund): $37,566 (+$3,599 since last quarter)

Total assets: $299,580 (+$8,507 since last quarter)

Liabilities:
Mortgage: $172,332  (-$1,037 since last quarter) (Note, it didn't take the Jan 1 payment into account yet)

Total net worth including our house: $127,248
Difference since last quarter: +$9,544

Assets:
Roth IRA: $36,106
Simple IRA:$6,947
Regular IRA: $4,018
Lending Club: $216
Savings (including emergency fund): $37,566

Total assets (monetary only): 84,853

Liabilities:
Mortgage: $172,332

Total net worth not including the house: -$87,479
Difference of +$9,832 since last quarter