NW Update – April 2021

Another month and another Net Worth update. Despite some expensive hobby purchases, bordering on excessive to drop at once, we still increased our Net Worth by $56,200 in the previous 30 days. That is well ahead of track to be at $2 million by April 2024, but this massive bull market can only last so long. I continue with my goals to move as much after tax savings from equities to real estate as possible.

We have a $122,000 real estate purchase with a tenant already in place that will close mid May. This is on track with the goal of purchasing 3 rental properties by June 2022. This property is the first rental property I’ve purchased that I’ll be using traditional commerical financing. I’ll write a detailed report of how that goes in a future post. For now, onto the updates.

Assets
Real EstateValueMonthly Income
IA Rental 3818$130,000$1,050
CO Duplex 1060$580,000$1,000
Real Estate Total$710,000$2,050
Tax Advantaged AccountsValue
457$75,000
401k$62,200
IRA$78,200
ROTH IRA$58,000
Spousal IRA$37,000
529$16,500
Pension$35,800
Tax Advantage Total$362,700
InvestmentsValue
Brokerage Vanguard$68,500Moved all single stocks to Real Estate checking
Brokerage WeBull$12,100
Crypto$50,000
Retail Business$415,000
Total Investments$545,600
Cash/SavingsValue
Checking$61,000BIG spend on Astrophotography this month…..
Real Estate Checking$67,000 (multiple closings soon)
Sold business note$17,000
Total Cash/Savings$145,000
Total Assets$1,763,300
LiabilitesTypeAmount
Mortgage CO DuplexMortgage$399,000
Business buyout loanBusiness$95,500
Total Liabilities$494,500
Total NW April 2021$1,268,800

Increase/Decrease single month
$56,200

April 2021 Goals

  • Set ourselves up to max the 529 each year for the next five years. (already done for 2021)
  • $2,000,000 NW by April 2024 – Current FI goal date.
  • Continue moving after tax investments from apps and into real estate; purchase 3 rentals by June 2022. – Under Contract with 1 property to close in May 2021
  • Invest $50,000 additional into CO Duplex in improvements to create a better income property by April 2023.
  • Continue to max 457 and 401k until April 2024 – get pre tax to $500,000

Things to note for the coming months of 2021.

  • $54,000 going to cabin purchase in May 2021. This will be a hobby/luxury expense and will not count towards the $2mil NW goal as it will be a liability property with additional expenses and will not be monitized.
  • Closing on rental property 2625 Mid-May with a mortgage. 20% down at 4.125% for 30 years is just crazy.
  • End of May/Early June FireDad’s pension should double as I become vested.

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