As of January 6, 2014, we are $450,453.74 in debt (that includes the mortgage). Without the mortgage, we’re at $31,918.46 in debt. This includes student loans and an auto loan. We currently have $1,012,394.70 in assets (including our house). Our retirement accounts are at $348,080.08. Our Net Worth is $561,940.96 (includes house and mortgage), up from $538,555.92 last month (4.34% increase).
We topped $1 million in assets before the end of the year (thank you stock market!), so I guess I can call that goal completed – even if it was down to the wire.
Our investments increased 31.38% over the course of 2013 – a good portion of that was contributions, so we have no secrets for timing the stock market. Our net worth increased 28.38%, with a lot of thanks to the stock market. We did pay down just shy of $30k ($29,996.34) of debt principal this year, so that helps with increasing the net worth.
We paid off the last credit card. All we have left now is student loans and our car loan. Our current plan is to aggressively pay off the student loans (expected about June-July) and then contribute towards our retirement accounts before throwing everything else to the car loan. The student loans are broken up into three loans, one (very small one) at 2.15% and the others at 6.55%. January is a three paycheck month for Dad, so that extra paycheck is going towards a ~$2,300 loan at 6.55%, completely paying it off. I just have to (impatiently) wait until after the January auto-debit clears to get a final payoff number to schedule the payment.
Daughter Person is “graduating” to the next room at daycare, and starting next week, our tuition will drop almost $20/week – giving us anywhere from $80-$100 extra in the budget every month. She’s been hanging out in that room for the last few weeks when there are too many kids in her room, so I think she’ll do just fine during the transition.
Debt (in the order we’re paying it down):
- Line of credit (8.75%): $0.00
- Chase (4.99% for life): $ 0.00 (-1,992.53)
- Student loans (aggregated 6.55%): $12,500.73 (-142.27)
- Car loan (0%): $19,560 (-490.00)
- Mortgage (4.125%): $ 418,535.28 (-673.77)
Total paid off in December: $3,298.57