Net Worth Update Q4 2017: 140,172.73 (+23,744.94)

I was going to wait until December 31, but not much should change between now and then apart from one more payday, so y’all get a Quarter 4 2017 net worth update now! You can see last quarter’s update here.

I’m still using Mint for this update, although we are switching to You Need a Budget. Mint pulls the home and auto values listed below from Zillow and Kelley Blue Book, respectively. This means our home value is prone to somewhat wild fluctuations. Mr. Steward and I have joint finances, so this reflects our family’s entire financial picture.

The Numbers

Cash
Savings (Emergency Fund) 15,005.53
Checking 1,766.09
Investments
Mr. Steward New 401k 1,131.79
Mr. Steward Old 401k 45,236.89
Mr. Steward Roth IRA 3,114.36
Ms. Steward New 401k 829.25
Ms. Steward 401k 3,393.46
Ms. Steward IRA 13,653.65
Ms. Steward Roth IRA 3,729.74
Ms. Steward HSA 5,104.75
Ms. Steward FSA 98.78
Property
House 126,941.00
Van (2014 Dodge Caravan) 11,249.00
Car (2010 Chevy Cobalt) 4,426.00
Debts
Credit Card (Paid Off Weekly) -197.93
Mortgage -95,309.63
Total Assets 235,680.29
Total Liabilities -95,507.56
NET WORTH 140,172.73

Not included are two 529 college savings accounts, since those are our daughters’. Those accounts stand at $811.84 and $25.00.

The Changes (+23,744.94)

A Windfall

Most of our comparatively huge net worth change comes from the financial windfall we received in November. Our old employer gave us a loyalty payout when they sold our company. We received around $18,000 after taxes, which was the perfect amount to pay off our van loan and remove the PMI from our mortgage payment, two of our main goals for 2017.

New 401ks and a Higher Contribution Rate

If you noticed our investment account list is longer, it’s thanks to both of us receiving new 401k accounts with the company transition. Mr. Steward’s old account will eventually get rolled into his new 401k. Mine will get divided between my Rollover IRA and Roth IRA (based on how I made the contributions to my previous employer’s 401k). We got our last contributions from the old employer in November, but haven’t taken care of the rollovers yet.

We also upped our retirement contribution rate to 15%, with a 3% company match, in November. Finally, we each added a bonus check to our Roth IRAs this quarter.

Looking to Next Quarter

Ongoing Costs of a Newborn

Obviously, next quarter will likely not see the extreme gains of this quarter since we aren’t expecting any more crazy windfalls. In fact, we’ll have several major expenses since we had a baby this quarter. (Hooray for baby Squidge!)

And, new babies mean doctor bills. Although I haven’t seen the official bill yet, insurance says we’ll owe the hospital just shy of $2,500 for the birth, after insurance. The pediatrician also just filed the insurance for Squidge’s side of the bill, so we’ll see what, if anything, we owe for her. That’ll knock out the FSA and half of my old HSA.

I’ll also miss 3 of my paychecks and then go back on reduced time for a couple of weeks. Frankly, if we see our net worth keep moving in the positive direction next quarter, I will consider it a win. Let’s see how it goes. In the meantime, we wish you the happiest new year!

Q4 was obviously a big quarter for us on several fronts. How did it go for you?

4 Replies to “Net Worth Update Q4 2017: 140,172.73 (+23,744.94)”

  1. Steven

    Wow, yes, this was a great quarter for you! Way to go for sticking to your goals when you got the windfall and knocking down the loans! Babies can be expensive, but they are so worth it! Keep on trucking, you will continue to grow! Great way to end 2017!

    • Ms. Steward

      Honestly, this may sound strange, but I don’t know what else we would have used the windfall on. There are a few big crazy fun things I’d like to do someday (have a rental property, take my mom to Ireland), but they all require us to be more financially well off than we are before they are appropriate.

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