Hi All,

Well, we sat down and did our semi-regular update of our net worth. After we totaled up everything that we have and owe, our current net worth is $393,000, just south of 400k. This is a gain of approximately $30,000 since February or a 5% growth in our wealth overall.

A few comments. First, some of our assets are doing better than others. The overall gain is mostly driven by growth in our self managed stock accounts, by Miel’s contributions to her retirement and by paying off our second mortgage. It was partially offset by our taking out an additional – and hopefully last – student loan of $8,500. Savings bonds and precious metals continue to be our portfolio losers.

Second, 393k is just a stones throw away from 400k. While 400k isn’t as much as some people have, it is higher than the national average of people in our age bracket (299k) and its 10% of the way towards our net worth goal of $4 million. But more importantly it feels like we are nearing an important milestone and helps to affirm that all our planning and saving has been worthwhile.

Best,

James

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2) Understand and respect your partner. Take time to understand your partners values about money.

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4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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