As of November 4, 2014, we are $14,500 in debt without a mortgage to speak of (yet). We currently have $519,313.87 in assets. Our retirement accounts are at $410,727.21. Our Net Worth is $504,813.87, up from $491,961.16 last month (2.61% increase).
October was nice to us on the investment front. I took a week without pay in October because of our two week vacation – University policy only allows them to “front” me 5 days of PTO, so the rest was unpaid – which was fine with me. But that also meant that my gross pay was affected, which affected my 403(b) contributions and match.
I’m happy that our net worth is back over half a million dollars – and hopefully continues to grow!
We’ve signed the final paperwork for our new home, which will increase our net worth by ~$370,000 and with an expected mortgage of about $296k – just over half of our previous mortgage. Because we don’t borrow the money until the house is finished, we can’t lock in rates yet. If we were to borrow right now, the rate would be about 4.2% (with no points, discounts, etc). I’m hoping that the rates are still low in February/March when we have to lock in our rate. Then we have to decide about paying points, escrowing, etc.
We’re getting a 55k discount on options from the builder for using their lender: the fees aren’t horrendous and the rate is in line with others we’ve gotten quotes from. But at the same time, I’m willing to almost immediately re-finance if I can get better terms elsewhere (and/or better service).
Debt (in the order we’re paying it down):
Line of credit (8.75%): $0.00
- Chase (4.99% for life): $ 0.00
- Student loans (aggregated 4.21%): $0.00
- Car loan (0%): $14,500 (-500.00)
Mortgage (4.125%): $0.00
Total paid off in October (not counting the mortgage): $500