Net Worth Update - July 2018
|July 2018 Net Worth Update|
The S&P 500 surged higher by 3.6% during July and my net worth followed suit thanks to the markets, dividends and most importantly savings.
During July my net worth increased $15,881.33.
Total Assets: $750,674.93
Liquid Assets: $2567,403.91
Total Liabilities: $-177,468.52
Net Worth: $573,206.41
When the markets move my net worth follows and that was very much the case for July. That's now 4 consecutive months of increases after the 2 months of decline earlier this year.
For the month my net worth increased 2.85% and YTD it's climbed 7.24%.
Our main financial target for 2018 is to pay down our non-mortgage debt. There's a variety of things that just kind of came up as life happened. Some medical debt, a vehicle, an unexpected new air conditioning for the house. Nothing out of the ordinary, but burdensome nonetheless.
At this time it doesn't make much sense to pay extra on the mortgage given our relatively low interest rate as well as the tax break on mortgage payments and think we'll come out much further ahead investing the extra cash flow. Actually I'm considering trying to do a refi sometime during Q2 or Q3 but time will tell on that since interest rates are moving higher. So the liabilities side of the net worth equation will be slow moving. However, once the FI portfolio is able to get to a self-sustaining level of dividends then the plan is to aggressively pay down the mortgage.
As of the end of July we have 26.5% equity in our house based on our purchase price from 2013. However, according to Zillow our house has increased in value around $42.2k from our purchase price which is a nice bonus, although I keep the purchase price as the value in the net worth equations. Based on Zillow's estimate the equity in our house jumps to 38.4%.
The following chart shows my assets and liabilities, as well as my net worth, since January 2012. While I have accurate records for my net worth dating back to July 2010, I didn't keep track of my assets and liabilities on a monthly basis until the start of 2012.
|Net Worth History through July 2018|
The liabilities are much simpler and fall into either the mortgage or a personal loan that we have. Although I do need to gather more information on the various medical, funeral and other debts that total around $20k to give a more accurate representation of our liabilities.
|Net Worth Breakdown - July 2018|
|Capital Structure - July 2018|
How did your net worth fair in July? Did you ride the markets higher to new personal bests?
Please share your thoughts below!