It’s been 57 months since we set a goal to pay off the mortgage (on our condo) and to have a net worth of at least $1M by 2020. This is the 57th update on the progress of the goal. If you’re wondering why we set this goal, click here.
It was another busy month in real estate. I closed about $2M in sales in October and am doing a little over $2.2M in November.
One of the October transactions was our own house. We bought another house in Chantilly to live in while we renovate our Fairfax house. My parents are planning to move to the area very soon, so one of the houses will be for them to live in.
You’ll see there was a net worth jump this month. The stock market moved up a little this month. I also gave a $20k increase in value to the Fairfax house because of renovations made. Finally, some real estate commissions helped as well.
I’m hoping real estate will slow down a little bit so I can freely spend more time with my kids and my wife. I do enjoy the work, but I feel I am constantly on.
Until it slows down, I’ll keep these monthly updates short and to the point. As always, thanks for following along!
Here’s this month’s update:
Net worth calculation
Total Assets: $1,615,723.72
Fairfax house: $620,000
Chantilly house: $532,000
Cash and cash equivalents: $107,279.77
Investments (including retirement): $356,443.95
Total Liabilities: $785,162.33
Mortgage on Fairfax house (7/1 ARM @ 2.79%): $363,253.02
Mortgage on Chantilly house (30-yr @ 2.625%): $372,400
TSP Loan (15-yr @ 0.75%): $49,509.31
Net worth = $1,615,723.72 – $785,162.33 = $830,561.39
Net worth progress
Tracking your net worth is a good way to assess your financial health and see how you’re doing each month. I use Personal Capital to help me track my net worth. I highly recommend it.
Net worth = assets – liabilities, or everything we own minus everything we owe. I’m not including our cars here, which are both paid off, to keep the calculation a little simpler. I am including an estimate of home equity.
I am using my knowledge as a realtor to provide estimates of value for our real estate.
Our net worth increased by $35,063.25 to $830,561.39.
Graphic: Canva / Jenny Hwang
| Date | Home equity | Investments | Cash | Net Worth |
| 2/19/2016 | $140,695 | $149,076 | $21,813 | $311,584 |
| 3/19/2016 | $145,519 | $164,791 | $23,512 | $333,822 |
| 4/18/2016 | $150,007 | $171,697 | $17,457 | $339,161 |
| 5/17/2016 | $153,000 | $171,305 | $21,672 | $345,978 |
| 6/20/2016 | $160,100 | $174,881 | $23,094 | $358,075 |
| 7/19/2016 | $162,000 | $185,621 | $27,689 | $375,311 |
| 8/22/2016 | $163,000 | $192,479 | $24,437 | $379,916 |
| 9/20/2016 | $261,403 | $144,694 | $3,657 | $409,754 |
| 10/27/2016 | $261,806 | $151,425 | $5,735 | $418,966 |
| 11/21/2016 | $262,855 | $155,877 | $10,364 | $429,096 |
| 12/19/2016 | $264,290 | $162,281 | $11,432 | $438,004 |
| 1/19/2017 | $285,534 | $172,862 | $8,751 | $467,147 |
| 2/17/2017 | $286,865 | $178,666 | $12,980 | $478,511 |
| 3/17/2017 | $286,718 | $181,893 | $18,413 | $487,023 |
| 4/19/2017 | $290,196 | $184,580 | $16,472 | $491,247 |
| 5/15/2017 | $290,941 | $189,092 | $11,453 | $491,487 |
| 6/19/2017 | $293,950 | $187,627 | $21,135 | $502,712 |
| 7/17/2017 | $301,391 | $196,288 | $19,292 | $516,971 |
| 8/17/2017 | $312,523 | $195,913 | $21,981 | $530,417 |
| 9/19/2017 | $320,769 | $200,956 | $16,914 | $538,639 |
| 10/19/2017 | $326,848 | $204,144 | $10,283 | $541,275 |
| 11/20/2017 | $328,010 | $210,841 | $11,490 | $550,340 |
| 12/19/2017 | $334,171 | $213,215 | $8,695 | $556,081 |
| 1/18/2018 | $335,335 | $216,656 | $8,074 | $560,064 |
| 2/20/2018 | $336,502 | $218,847 | $12,813 | $568,162 |
| 3/20/2018 | $337,672 | $223,416 | $16,135 | $577,223 |
| 4/19/2018 | $339,365 | $229,208 | $26,035 | $594,608 |
| 5/16/2018 | $346,063 | $235,332 | $22,790 | $604,185 |
| 6/19/2018 | $349,393 | $247,582 | $24,915 | $621,889 |
| 7/19/2018 | $355,604 | $251,277 | $25,325 | $632,207 |
| 8/20/2018 | $358,819 | $248,135 | $21,200 | $628,155 |
| 9/19/2018 | $366,555 | $247,659 | $17,269 | $631,483 |
| 10/19/2018 | $367,799 | $249,039 | $18,821 | $635,660 |
| 11/19/2018 | $370,187 | $252,190 | $20,452 | $642,829 |
| 12/19/2018 | $371,441 | $247,785 | $22,951 | $642,177 |
| 1/18/2019 | $372,698 | $261,805 | $15,612 | $650,115 |
| 2/19/2019 | $381,959 | $269,694 | $12,227 | $663,881 |
| 3/19/2019 | $415,207 | $272,318 | $4,209 | $691,734 |
| 4/22/2019 | $180,686 | $407,082 | $116,846 | $704,614 |
| 5/17/2019 | $184,560 | $469,911 | $52,925 | $706,596 |
| 6/18/2019 | $205,000 | $469,992 | $24,516 | $699,508 |
| 7/19/2019 | $225,000 | $467,139 | $21,911 | $714,050 |
| 8/19/2019 | $240,000 | $466,210 | $17,344 | $723,554 |
| 9/19/2019 | $249,884 | $469,070 | $9,127 | $728,081 |
| 10/21/2019 | $261,638 | $453,285 | $21,236 | $736,159 |
| 11/21/2019 | $270,000 | $467,615 | $11,799 | $749,414 |
| 12/19/2019 | $280,000 | $465,848 | $9,547 | $755,396 |
| 1/23/2020 | $296,000 | $464,150 | $7,555 | $767,705 |
| 2/19/2020 | $320,000 | $442,381 | $12,270 | $774,651 |
| 3/19/2020 | $321,022 | $338,115 | $18,339 | $677,476 |
| 4/20/2020 | $161,500 | $542,109 | $28,275 | $731,885 |
| 5/19/2020 | $162,244 | $550,080 | $35,039 | $747,363 |
| 6/19/2020 | $162,990 | $363,026 | $235,116 | $761,133 |
| 7/21/2020 | $168,738 | $367,661 | $249,493 | $785,891 |
| 8/19/2020 | $169,488 | $374,047 | $249,968 | $793,504 |
| 9/22/2020 | $185,239 | $371,761 | $237,214 | $794,214 |
| 10/22/2020 | $185,992 | $335,130 | $274,376 | $795,498 |
| 11/19/2020 | $416,347 | $356,444 | $107,280 | $830,561 |
Graphic: Canva / Jenny Hwang