Tuesday, May 2, 2017

Net Worth Report (April 2017 Update)

Originally, I was only planning to provide annual Net Worth updates.  However, since I am now part of an active list of bloggers who provide their net worth on Rockstar Finance's page - The Ultimate List of Blogger Net Worth, I have decided to start providing quarterly updates.  Providing quarterly updates will allow us to keep our readers more updated with our overall progress towards Financial Independence. It will also allow us to stay accurate and current on the Rockstar Finance's Ultimate List of Blogger Net Worth. ;)

So at the end of the first quarter, our family net worth is as follows:

Retirement Savings:                      $ 468,092
P2P Lending Accounts:                   $  12,649
Dividend Stock Accounts (DSA):     $  75,040
DSA - Surplus Cash:                      $  18,238
College Savings Accounts:              $  64,382
Cash and Savings:                         $  65,239

GRAND TOTAL
$703,640
(Increase of $11,675 since January 2017)

Although we do not count it as part of our Net Worth,
it is still nice to know that our Home Equity is:
$546,375*
(Increase of $13,793 since January 2017)

Although we don't consider our home equity as part of our Net Worth, we understand that some people do.  So for those who include home equity in their Net Worth, our family's net worth would be considered: $1,250,015 (Increase of $25,468 since January 2017).  It's a pretty awesome figure when you include the home equity but until we can accumulate 7 figures without our home equity, I refuse to consider myself a millionaire. 

* Although others do consider home equity, and even cars, collections, etc. as part of their net worth, it is our opinion that since these items are not very liquid and the value of these items is highly dependent on what others are willing to pay for them (at the present time), we have decided not to consider these type of assets as part of our family's recognized net worth.

7 comments:

  1. Congrats that's awesome. Quit's the portfolio you got there! I'm definally in the field that includes the house in net worth. Keep it up!

    ReplyDelete
    Replies
    1. Thanks. Through time, and living on less than you earn, anyone can build a nest egg like ours. ;)

      Regarding the house, many also do. I don't think there is a right or wrong here, it's just a matter of preference. Equity is certainly net worth, we just don't like that it isn't very liquid.

      Thanks for stopping by. AFFJ

      Delete
  2. When doing my net worth, I do not include my house. Plus, those real estate are only estimates. Congrats on the net worth.

    ReplyDelete
    Replies
    1. Thanks. Totally agree that the equity in the house is simply an estimate. The only accurate way to measure equity is through an appraisal but that also assumes that the house sells for its appraised value. Yet another reason why we don't consider our house as part of our net worth. :)

      Thank you commenting. AFFJ

      Delete
  3. AFFJ -

    Nice work, I do include my house; but it's a very low fmv home when compared to yours and others! Nice work on the increase.

    -Lanny

    ReplyDelete
    Replies
    1. Thank you Lanny. I will admit that the number is attractive and it is sometimes tempting to sell and cash out our equity. haha

      But unless we sell and then go rent somewhere, we need our home to live in. For that reason, the value and equity is not technically real. We know and understand that everyone has there reasons for including the home and that's OK. Our differences is what makes each one of us unique. :)

      Best wishes my friend. AFFJ

      Delete
  4. Currently we dont own a home,so for me no decision to make whether to include or not when doing networth.Over all good work.

    ReplyDelete