Net Worth Update - February 2020
|Net Worth Update - February 2020|
The markets started going haywire due to concerns about the coronavirus and the S&P 500 shed 8.4% during February. With a large portion of my net worth tied to the markets that unfortunately mean that my net worth took a big hit during Feburary's selloff.
During February my net worth decreased $45,222.69.
Total Assets: $807,718.72
Liquid Assets: $301,601.09
Total Liabilities: -$171,343.74
Net Worth: $636,374.98
I just thought that $12k decrease in January was "shocking" to see. Of course, I wasn't concerned about January's decline and am not about February's either. We'll see about March's?!?!?! Year over year our net worth is still higher by $80.2k so at least we got that going for us.
With the market declines in February that pushed us far away from any new high water marks for our balance sheet.
For February my net worth decreased 6.6%.
Our main goal for 2020 continues to be raising cash and especially so now that the markets are going limit down nearly every day and the global economy being on the precipice. Given some time I do believe that things will revert back to "normal".
We're slowing down the debt reduction process although we are still paying more than the minimum and making extra payments to get rid of the one consumer debt that we have: the loan on my car. After February's payment that debt is down to $16.3k.
At this time I don't believe it makes 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. So the liabilities side of the net worth equation will be slow moving outside of the car loan
As of the end of February we have 29.0% equity in our house based on our purchase price from 2013. According to Zillow our house has increased in value around $25.7k 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 36.5%.
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 February 2020|
|Net Worth Breakdown - February 2020|
|Personal Capital Structure - February 2020|
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How did your net worth fare during February's market declines?
Please share your thoughts below!