Here is where we currently stand:
- Investments: $534,000
- Home Equity: $187,000
- Cash: $63,000
Total Net Worth: $784,000
Market appreciation helped us move up a bit quicker than expected, which obviously feels nice. However, this has me thinking that a downturn will temporarily feel awful. Regardless, we will stay the course.
I am actively trying to think about our finances a little less. This is for two reasons. First, I have this mostly set on autopilot, so it really doesn’t need daily input. Second, what started as a productive habit of checking my finances for a half hour each day has turned into 1.5 hours of dreaming up various financial scenarios, which is admittedly not productive whatsoever.
The biggest change this month was a $2,000 contribution to a 529 plan. We don’t have any children yet, so for now I am the beneficiary, but I don’t plan on getting my DMSc at the moment, so this is really earmarked for future children.
Plans for this month will be to continue building a cash reserve for upcoming backdoor Roth IRA contributions and funding a taxable brokerage account. I am thinking that by early January, these contributions will total about $25,000. I imagine I will hold off on any major principal payments toward the mortgage for now, as we are discussing a minor bathroom remodel and some other house projects. A new barbell for powerlifting and a new hockey stick (surprisingly expensive) are also on my wants list. I am being a bit stingy (no surprise there) and have been delaying these expenses, but I am getting close to caving.
I look forward to reviewing my finances a month from now.