Wednesday, December 5, 2012

Net Worth Update - November 2012

November ended up being a solid month for my net worth considering it was down pretty low due to the markets during part of the month.  For the month I ended up with just under a $9,000 increase.  About $1,300 was from 401k contributions and the company match the rest came from after-tax savings, interest on savings, dividends and market fluctuation.

Current Assets: $163.724.19
Curent Liquid Assets: $70,460.92
Current Debts: -$16,975.43
Net Worth: $146,748.73

With the markets taking a big decline during the month and more of my net worth being tied to market performance my net worth was on pace for a very low increase for the month.  Luckily the markets improved towards the end of the month and brought me to almost a $147k net worth.  I now only need a $3,251.24 increase in net worth during December to reach my updated goal of a $150k net worth.  As long as the markets don't completely fall apart I'll be able to hit this mark.  I'll have another $1,400 added to my 401k and ESPP so a good chunk of that is already spoken for, plus I'm budgeted for another 70%+ after-tax savings rate.  It's exciting to see all the progress on the net worth.  It's so much more than I expected when I originally set my goals for the year.

My savings rate for November ended up at 83.00%.  This is now my 4th month with a 80%+ savings rate from my take-home pay.  My average savings rate increased from 76.65% to 77.23% including November.  My emergency fund currently sits at $8,548.03 which cover 6.00 months of my average minimum expenses for the year.  I need to beef up my emergency fund just a little bit more, but my plan right now is to take my extra savings from each month and add that to my emergency fund as well as any interest I receive so it's a slow add for now.

YTD my net worth has increased 113.41%.  For the month, my net worth increased 6.52%.

10 comments:

  1. Excuse my language but an 83% Savings rate - Holy Fucking Shit! That is unreal. Congrats man!

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    1. Thanks. That gave me a good laugh to read your comment. My savings rate is great mainly bc my income is so high but ive made a lot of progress on my expenses as well. If i would have gotten the job i have now right out of college i would reach early FI by no later than 35 but i got into this a little later and i cant complain bc i met my wife while working my other job.

      Thanks for stopping by!

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    2. One of my unofficial goals for a monthnext year is to hit 90%. Thats going to be really tough but if the right combination of higher than normal monthly income coincides with lower expenses it could happen.

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  2. Pursuit,

    Wow, excellent! An 83% savings rate will have you financially independent in no time. If you can keep that up, 5-7 years should just about do it.

    I think I ended up just under 80% for the month of November myself. I'll be posting that soon.

    Congrats on a stellar month!

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    1. DM,

      Thanks it was a great month with higher than average income and lowest full month of expenses. This is looking like itll be an expensive month but it means i got to see my wife more. Congrats on a solid month yourself. 5-7 years sure would be nice. That would put me at 34-36. I can deal with that much free time to focus on things ive never gotten the chance to.

      Thanks for stopping by!

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  3. Awesome! 80% is no easy to feat to achieve, so you are of course doing a phenomenal job. I'm struggling to even get to 70%.

    If you keep this up, you'll probably be able to pull in that retirement date by a few years. This would be a great problem to have.

    Cheers!

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    1. FI,

      I know i can keep this rate up for at least the next year or so since we dont have a mortgage. Talked about maybe getting a house butnothing firm yet. I sure would like to be able to deal with that problem. I need to get a chance to take my test to get my raise bc based on the number of days ive worked this year thats over $10 k extra per year, i think its closer to $15k but i cant remember for sure. And the best part is that all that drops straight to the bottom line after taxes.

      Thanks for stopping by!

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  4. 83% is amazing! I don't think I'll ever really come close to that. I'm inching towards 70% now.

    "It's so much more than I expected when I originally set my goals for the year."
    This. I've definitely seen the same thing this year and it's really invigorating.

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    1. Luckily I live in a low cost of living area, Houston, and my income is quite high since I work in the oil field. So the high savings rate is pretty easy to maintain. I know I won't do this every month but I'm hoping that the right combination of higher income and lower expenses will come along one month next year after I get my raise to let me hit 90%+. That would be awesome.

      It really keeps me going when I see the goals I set for myself and how they're getting blown away. I'm looking forward to where I'll be at a year from now, hopefully continuing to blow past my goals. You've made some great progress yourself. A 2 year net worth increase of

      Thanks for stopping by!

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    2. My internet was being a little shady.

      A 2 year net worth increase over $160k is awesome.

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