August 2017 Net Worth Update – $154,197.26

Disclaimer about our Net Worth
We don’t have any debt, non whatsoever. But we use credit cards to earn some miles and get signup bonuses; we pay the whole balance every month. We own a car and a motorcycle, but we do not include the value of these vehicles in our Net Worth. The same for our kids 529s.

I know, it is late already and I should have posted all the numbers earlier, but this summer has been crazy and we didn’t have time for almost anything. But I was tracking all the numbers because I knew that one day I will write this post. So, here we go.

August 2017 Update

Checking Account – $4,938.83 (+$3,728.77): We decided to keep just enough money in our checking account and transfer everything else to savings account. Plus, we transferred more to the downpayment fund this month.

Emergency Funds  – $30,000.00: this is our 6 months worth of living Emergency Fund. We use Ally Online Bank for keeping our Emergency Fund money. And you can read here why your emergency fund is not an investment.

Savings (Other) – $7000 (+$202.87): We use this account for our sinking funds and other expenses that happen once or two times  year: car and motorcycle insurance, vacation fund and so on.

Mr. FR Traditional 401(k) $29,090.74 (+$1,671.70): in May we took a plunge and increased our pre-tax contribution from 6% to 15%. Finally I understood the idea of paying yourself first. It took couple of pay cycles to see the changes and, finally, in June we saw the huge difference in the contribution part. My employer matches $0.75 for every dollar up to 6%.

Mrs. FR Traditional 401(k) $11,785.68 (+$1,243.38): the same as above, Mrs. FR has increased her contribution to 15% and her employer matches $0.5 for the first 6%.

Mr. FR Roth IRA 5,785.62 (+$10.27): Despite the fact the market wasn’t so great in August, it’s so great to see this account growing without any contribution from us.

Mrs. FR Roth IRA 5,621.65 (+$9.98): Isn’t it amazing? Just two months ago we put $5,500 into Mrs. FR  Roth IRA account and it has grown already. I love when money make more money.

HSA $3102.59 (-$233.61): Our HSA has two parts in it: checking account that we use for medical expenses and investment part. We always keep $2000 in the checking account and invest whatever is above. In August I had to visit couple of doctors because of my elbow problems and both of them told me that I have to have a surgery. So, expecting to have bigger expenses in the next couple of months.

Downpayment (VSTAX) $56,872.15 (+$13,936.31): We are saving for a house and our goal is to have enough money to buy it with no more than 25% of just one of either our salary, which is pretty conservative. We invest every month, no matter if the market is high or low.

Liabilities ($0): Zero, Nada, Ноль. There’s nothing to say about, we don’t have car payments, we don’t carry balance on our credit cards, we use cash when it’s necessary and if we can get a better deal.

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2 Responses to August 2017 Net Worth Update – $154,197.26

  1. Hi, thanks for sharing I enjoy posts with numbers. It seems like you are in a great position and really making progress. Only stand out thing that caught my eye is the use of the HSA funds. I would say pump the breaks on one of your saving accounts possibly the house and pay cash for the medical expenses while simultaneously keeping the receipts. This way you keep the awesome benefit that the HSA provides with triple tax advantage and can withdraw on it like a retirement account down the road! Great progress is being made though keep it up!

    • Hello Damn Millennial, and thanks a lot for your comment. I really appreciate that.
      I was thinking about paying cash for medical expenses and live the HSA accounts alone, and maybe we are going to do this the next year, will see. But as of now our primary goal is to save up as much as possible for a future house. As of now we have to pay for rent and save up aggressively as much as we can, but as soon as we buy a house (1-2 years) we are going to pay cash for medical expenses and let HSA account grow and grow and grow even more 🙂

      I like your comment, thanks a lot again.

      Cheers,
      The Friendly Russian

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