It’s that time again!
After almost a month of not being able to view my retirement savings, I was excited to put together this report. My employer recently switched 401(k) providers, resulting in a long blackout period where I could view information from either provider. As of yesterday, I am now able to log into the website of the new provider, Lincoln Financial Group.
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If you are unfamiliar with the concept of net worth, check out my first report from July where I go in depth about the term and what peaked my interest in calculating mine.
I use Personal Capital to calculate my net worth, mainly out of laziness. After months of tediously updating spreadsheets tracking my financial progress, I finally decided to allow a third party to do the work for me, and I wish I would have so much sooner. Almost every one of my accounts are linked to the program, so I no longer have to log into each and every account and manually update a spreadsheet.
Personal Capital is completely free, of course (I’m too cheap to pay for anything), and you can start using it to track your net worth too. Use this link to provide me with a small commission at absolutely no cost to you!
Let’s take a look at this month’s financial report card.
+ Assets: $243,014
- Cash: $14,150.52
- Investments: $70,720.87
- Cars & Motorcycle: $7,597.00
- Home (Zestimate*): $150,546.00
*A Zestimate® home valuation is Zillow’s estimated market value and is not an appraisal. It is designed to be used as a starting point when determining a home’s value. Keep this in mind if choosing to enable this feature to add your home’s value to your Personal Capital account.
– Liabilities: $25,463
- Mortgage: $25,463.59
= Net Worth According to Personal Capital: $217,550 (+$15,066 from last month)
As great as that sounds, I do not agree with that amount. Zillow’s estimate of our home value shot up by over $8K, which is far too high. Therefore, I’m going to use last month’s home value estimate.
- Home (August Zestimate*): $142,232.00
=Net Worth: $209,236 (+$6,752 from last month)
This is a much more realistic number, and I am very happy with it.
Check back on the 15th of each month to track our progress!