Net Worth Update: December 5, 2016

We continued making our mortgage payments, deposited $200 a week to Vanguard taxable account, added $1500 to my 457 retirement account and made a few bucks from other investments. 

 

We really need to downsize and invest some or all of the equity in our house.

Any comments, suggestions, encouragements, or advice is welcome and greatly appreciated. We know we have a lot to learn and plenty of adjustments to make, especially on the investment and savings side of things.

Here is where we stand as of today:

Net Worth

2016-12-05_assets

Liabilities

 

4 thoughts on “Net Worth Update: December 5, 2016

  1. Can I assume that you don’t pay off you credit cards each month? If so, I would really try to get that credit card #1 balance down quick. I am assuming that the interest rate on that card is higher than your mortgage.

    I don’t know your age or your retirement plans, but I think you have a good position in your retirement and taxable investment accounts. The $200 a week to the Vanguard taxable account sounds great, although I would get the credit card balance to zero if you aren’t paying it off each month.

    In regards to downsizing your home, is your current home too big? Can you find another home in the area that will suit your needs? One thing to consider when you sell is the real estate broker fees you’ll likely need to pay (typically 6% of the sale price) as well as closing help that some buyers may want to work into the deal. Do you think you would come out ahead?

    1. I do pay off my credit cards each month except one. The reason I have 15K on one of those cards is 0% interest. I took that money for a short term investment . It is part of investment #1 (25K) you see in the assets section. I still have about 10 months on that 0%. It will be paid off when that time comes.

      I am in my mid 40s and planning on calling quits on full time work in 4 years or so. It depends on kids’ college situation. One will be done with college and the other one will be freshman or sophomore then. Even though I am not planning on getting a full pension since I will be leaving early I will still have something like 25K+ a year about 13 years from now. Today’s 25K tomorrow’s ????. I don’t know.

      Yes, the current home is too big for us. Our dilemma is the school district. We only need to be here for another 2.5 years. Do we wait out, do we sell and buy a smaller house this spring/summer, or do we feel and rent for a few years. But rents are not low either. We have the whole winter to get the house ready and think about what we would like to do. Maybe, if we don’t get a good offer we stay for another year or two. As for coming ahead, I don’t know. If I don’t buy another house I think I would be fine with that. I just want to deal with house stuff. 🙂 Especially when it is 3500+ sqfoot home.

      If it was up to me I would want to own anything and travel the world. Still trying to convince Mrs. 🙂

  2. It looks like we are at a similar stage in life. Mid 40s with a couple of kids that should be out on their own (hopefully) or mostly through college in the next few years. I can see how you don’t want to leave the current school district if you still have one or more of your kids in high school.

    If you family is up for it, I would get your house ready to sell over the winter and see what happens in the spring. If you get a good offer and don’t mind renting for a few years in your neighborhood, that’s the path I would take.

    When we downsize (our current house is way too large for the two of us), our plan is to roam around for a few years renting and RV’ing to see where we want to settle down. Then we would like to build a reasonably sized house.

    Do you feel like you are saving a large enough percentage of your income? Or are you just looking for a good ‘bump’ to invest from selling your home?

    1. That is the plan. We will try to get the house ready to see if we get a good offer. If we do we will probably sell it and rent for a few years.

      We also would like to see as many places as possible before we decide to settle down.

      House prices don’t jump too much around here. They are not really for investment. I am trying to save as much as I can. I will also try to generate more through side businesses. We will see how it goes.

      In a few months or so, I may start posting more detailed numbers.

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