Net Worth Milestone
I don’t do monthly net worth blog posts anymore, but I do still track it (most months). We hit a milestone this month, so I decided to share.
One of my original blog goals was, arbitrarily, “Have $100k networth by the time I’m 30.” I’m not sure when, but I hit this sooner than 30, just before T and I merged our monies about a year ago. Except, when we merged our money, our combined net worth was not $200k, and there now two of us… Therefore, I mentally set a new goal. “Have $200k joing net worth by the time I’m 30 and T is 28.”
And here we are!
Cash – $51,832: This is split between a lot of funds and accounts, and is reduced by any balance on our credit cards (since we use those as cash substitutes). In general, the funds are split up as:
- Efund – $25,000
- Long Term Savings – $19,000
- Short Term Savings / Checking / Credit Cards- $7,832
The long term savings is earmarked for a long vacation before T starts a “real job” and also, a car for him should he need one. Anything left will be a house fund. Short term savings is money we might spend in the near term bills or vacation or whatever. T gets paid quarterly (for now), so he likes to have a rather large cushion in this account.
Retirement Savings – $147,947: This is mostly in my retirement accounts since T is only funding his Roth IRA for now.
Car – $19,000: We count this mostly because I didn’t want to count a large drop when we bought it. The estimate is a conservative one. We take 80% of the Kelly Blue Book value and use that.
SP’s student loan – $15,100: Ah, the student loan. Every time I start to think about prioritizing this, I change my mind. It just doesn’t bother me…
TOTAL JOINT NET WORTH – $203,679
So there you go. We’re making pretty good progress (thanks S&P 500 for not tanking us!), and despite some non-ideal living situations planned for this year, I think 2012 will be an pretty great year.