Net Worth $288,624

Up $6,215 from last month

This month has been a bit of a whirlwind. There are some major changes coming which have the potential to set my financial goals back. I won’t go into too many details but it’s looking like we’ll have my parents come live with us. Once our renter is out of the basement my family will move in for the forseeable future. We will lose $1,175 a month in rental income, but our quality of life will increase by having that time to enjoy together as a family, I sure miss having them around, they have been out of state for a good 8 years now.

My Grandpa also finds himself in a situation where he has been paying for years on a mortgage with a 6.75% interest rate. Refinancing hasn’t been an option because of a property dispute. We recently got the dispute resolved and since my Grandpa is not in a position to refinance because of age and income. I endevour to take responsibility for the mortgage to refinance at a better interest rate to lower the payment for my Grandpa. This could mean some money out of pocket for closing costs on the loan. I am currently exploring my options. If anything were to happen to my Grandpa it would also mean that I would be on hook for the mortgage. The property could also serve as an investment for me, however it’s not a property that I would have chosen to invest in, though it has some significance to our family. I should go into the property with some equity. We’ll see how the situation goes.

A couple of good things did happen over the last month as far as future Net Worth potential is concerned, I had my yearly review at work and the review went well I was meeting and perhaps exceeding expectations. No raise was discussed which was not too surprising considering the fact that our company is having a down year and just recently got through with a layoff consisting 10% of the workforce. I had to ask for it but I did receive a 5% raise after all was said and done.

My wife who has her teaching degree just started teaching english online to Chinese kids, which she really enjoys, she does this for about an hour and a half every morning while the kids are asleep. It’s something she can do while continuing to stay home with the kids and it brings in a little extra money to boot.

Assets Value 1 Month Change
Payoff (additional principal on rental mortage) $800 $275
Savings $20,658 $38
Roth IRA $13,310 $857
HSA $7,799 $630
House Primary $525,000 -
Rental $135,000 -
401k/Roth IRA $15,415 $1,413

Debts Value 1 Month Change
House Primary $370,680 ($624)
Rental $50,248 ($2,310)
Solar Panels $9,054 ($67)

For historical context check out a graph of our NetWorth over time.

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Thank you!