At the start of each month I share my net worth publicly because I want readers to be able to track my financial journey from the very start all the way to financial independence. I first started tracking my net worth in August of 2016 and have been posting monthly updates ever since.
Here are my numbers for August 2017:
|Money Market Funds|
|Savings Account||$4,165 (+$1,615)|
|Checking Account||$940 (-$117)|
|Total Money Market||$5,105 (+$1,498)|
|Tax Advantaged Accounts|
|Traditional IRA||$3,764 (+$33)|
|Roth IRA||$4,379 (-$144)|
|Total Tax Advantaged||$24,580 (+$1,597)|
|Non-Tax Advantaged Accounts|
|Brokerage Account||$17,563 (+$1,142)|
|Total Non-Tax Advantaged||$17,563 (+$1,142)|
|Net Worth||$47,248 (+$4,237)|
Here’s a look at my net worth progression since I started tracking it back in August of 2016:
From July to August my net worth increased by $4,237!
This was another ordinary month of saving a huge chunk of my earnings from my 9-5 job and earning some money on the side through tutoring and blogging.
I invested another $1,200 into my 401(k) account, which consists of a simple 80/20 split between an all-market stock fund and all-market bond fund.
I also invested $1,000 into VDC, the Vanguard Consumer Staples ETF. Normally I would invest in VYM, the Vanguard High Dividend Yield ETF, but immediately following Amazon’s announcement of their decision to buy Whole Foods, VDC took a nose-dive as people sold out of many of the top stocks in VDC like Costco, Wal-Mart, and Kroger. I was happy to pick up some shares of VDC while it was cheaper than usual.
I poured $1,615 into my Ally Savings account, which now pays 1.15% interest annually. This savings account won’t make me rich – I might earn $30-40 bucks in interest this year (that’s 4 to 5 Chipotle burritos, people), but it’s better than letting my money sit in a .01% interest checking account.
In other news, my monthly income is about to jump noticeably with the bump in salary from my new job, but my monthly expenses will also increase since I’m moving out in exactly 20 days from now. For the first time ever I’ll have to pay rent, buy my own groceries, and make an embarrassing attempt to learn how to cook. Once it all shakes out, I’ll probably be saving the same amount of money per month as I am now.
To everyone that has been following my financial journey up to this point, thank you and I hope you keep checking in each month. If you have any questions for me or want to discuss your own financial journey feel free to shoot me an email at email@example.com.
That’s all for this month’s net worth update, thanks for reading 🙂
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