Net Worth Update: March 2017

It’s time for my monthly net worth update! I made significant progress this month, partly thanks to a large annual bonus!

Asset Total Monthly Change Percent Change
Wells Fargo (401)k $19,459.29 +$830.97 +4.46%
Betterment- Brokerage $13,102.18 +$1,055.05 +8.76%
Synchrony- High Yield Savings $3,225.73 +$2,863.64 +790.86%
Checking Account $981.29 +$217.50 +22.16%
Total  $36,768.49  $4,967.16 15.62%

I got my annual bonus this month, which was significantly larger than I was expecting. As you can see, it had a huge impact on my net worth. I also signed up for an online marketing class called B School with Marie Forleo. But even after paying for the class, I was able to put the majority towards my savings and investments. Months like this are a great motivation for me to continue saving!

Again, I do not include my car (or house, as I am renting) for two reasons: first, I intend to drive my car as long as I can safely hold on to it. Secondly, my main goal for tracking my net worth is to save up enough for early retirement (current goal- $850K, which I was able to bring down after lowering my expenses). For early retirement purposes, I only want to include assets that will continue to produce passive income.

A breakdown of the accounts I have and their progress this month:

Wells Fargo 401(k): +$830.97

This is my retirement account through my company. I contribute 6% of my income and take advantage of my company match, which is up to 6% as well. My Betterment brokerage account is my first priority, not my 401(k), because I don’t want to pay tax penalties for withdrawing money during early retirement. I use Smart401(k) to determine my allocations within the account and maximize returns. This increase is due to my normal contributions  plus market increases.

Betterment (Brokerage): +$1,055.05

Betterment is my main account for my early retirement goal. I contributed about $1000 of my bonus, and there were some positive market changes.

Synchrony (High Yield Savings): +$2,863.64

I use this as my Emergency Fund and as a place for short term savings. I am working on replenishing my emergency fund to $15K as well as using this to save for a 6 month sabbatical from my full time job. I always feel more in control when my emergency fund has at least a couple of months’ worth of expenses!

Checking Account: +$217.50

I recently decided to include my checking account in my net worth. I actually included the numbers but didn’t write about this in last month’s update- whoops! I don’t keep much in here, but it still made sense to me to include it as part of my net worth.

Do you track your net worth every month? Let me know in the comments how your month went!

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