Net Worth Q3 2016
Welcome to the next installment of my quarterly net worth! It was an uneventful quarter as far as finances go. We moved to a new apartment that we love a lot more but is more expensive. I started a new position within the same company that is a move in the right direction but not a new pay grade. My wife also started a new job where she will be getting paid slightly more but we feel is much better as far as work life balance and benefits.
I continue to contribute enough to get my max match to my 401k, my wife started a 401k with her new job, and we are slowly adding to her Roth IRA. I stopped contributing to my Roth a few months ago to help pay off a couple of our highest interest loans. Once those are a little more handled, I will start with my Roth IRA again.
I am continuing studying the market and how to trade. I would love to be able to start making money consistently and have it as a second means of income. We are keeping about a month’s worth of cash on hand as an emergency fund and continue to put the rest towards loans.
ASSETS
| Retirement savings accounts | Brokerage account | Liquid cash | |
| Q3 2016 | $31,043.05 | $6,194.3 | $6,925.70 |
| Q2 2016 | $26,234.39 | $5,769.50 | $5,750.76 |
| % Change | +18.3% | +7.3% | +20.4% |
= $44,163.08
All our debt is student loans and we use the credit card for rewards. We get 2% cash back on all purchases.
Liabilities
| Student loans | Credit card | |
| Q3 2016 | $137,740.16 | $462.27 |
| Q2 2016 | $141,136.16 | $641.88 |
| %Change | -2.4% | +28% |
= –$138,202.43
Net worth: 44,163.08 – 138,202.43= -$94,039.35
This was a milestone because this was the first time our net worth climbed above -100,000. The following shows the amount paid towards loans including interest.
| Loan Balance | Paid towards loans |
| $137,740.16 | $72,828.50 |
My wife and I both graduated in 2012. We both took out a bunch of loans and my wife also ended up getting a masters degree after. We are doing our best to live frugally and pay off our debt as soon as possible, but also take time to explore and have some fun.
I am passionate about investing and personal finance and want to be an example to others in similar situations that financial independence is achievable with patience and smart decision making. I look forward to that day when I can say I am financially independent but I also look forward to the journey getting there.