As of December 6, 2013, we are $453,754.87 in debt (that includes the mortgage). Without the mortgage, we’re at $34,545.82 in debt. This includes a credit card, student loans, and an auto loan. We currently have $992,308.23 in assets (including our house). Our retirement accounts are at $337,687.88. Our Net Worth is $538,553.36 (includes house and mortgage), up from $522,143.05 last month (3.14% increase).
I’ve paid our contractor for the painting and gutters – sort of. The check was sent off by the bank mid-November, but it’s not been cashed yet, so the slightly over $7k is still sitting in my checking account until it’s cashed.
Our retirement accounts are up despite the last few days of a down market. I did like seeing those balances topping 345k though. They’re up 1.38% from last month, not as great of an increase as the last few months, but still respectable. And they are 31.38% more than January of this year – granted that includes contributions as well, but it’s still nice to see that number increase.
We might top $1mil in assets before the end of the year, and that will be pretty neat – a “millionaire” by at least one measure.
Dad got a bonus that we applied to our Chase card this month, so we got a nice boost there. I may or may not get a bonus, depending on how my company has done this year – I’m not expecting one, but it’d be a very nice surprise if it happened.
We’re on track to have all of our non-mortgage debt paid off at the end of 2014, but we will no longer be paying interest to anyone but the mortgage company starting about June – our car loan is 0%. This may trigger us to pump more money into our company retirement accounts and emergency fund before slaying that last debt. It’s something that Dad and I have to discuss – go with the math of getting a better return – or the emotional “win” of getting rid of all non-mortgage debt?
Debt (in the order we’re paying it down):
- Line of credit (8.75%): $0.00
- Chase (4.99% for life): $ 1,992.53 (-1,982.85)
- Student loans (aggregated 6.55%): $12,643.00 (-139.71)
- Car loan (0%): $20,050 (-490.00)
- Mortgage (4.125%): $ 419,209.05 (-671.46)
Total paid off in November: $3,284.02
Congratulations on paying off $3200 in debt. You’re working toward freedom and I’m enjoying watching your progress.
-Bryan
Thanks for stopping by. This month was nice with a bonus, but $3200 hasn’t been normal lately. I target $2800, but haven’t hit it recently because I wanted to build up in other areas first, but we’re still chugging along.
Good stuff! I love hearing about all the progress my blogging buddies are making in their net worth this year. All the best to be non-mortgage debt free next year!
We’re leaning towards paying off the car, but Dad and I decided to table the discussion until June next year when it becomes an actual decision. If we don’t, we won’t have it paid off by the end of the year, but as it’s at 0%, it’s not really eating a hole in our budget.
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