This is the 23rd update in my net worth series. I’m documenting my path toward two goals:
- $30,000 in annual passive income by 2025
- $1 million net worth by 2027
If you’re interested in real-time updates on the numbers, you can check out my net worth tracker, which I update on the 1st of every month.
A Small Landscaping Project
We did some rehab on our new primary residence.
On our property, we have a small garden area on both sides of the townhome.
They looked like they hadn’t been maintained in years.
Now it looks significantly better.
We closed on the unit in August, but I held off from doing the landscaping work thanks to the basement flood that we had to sink $12,000 into it. I was distracted from coordinating other work, like this landscaping project.
But now that’s done!
All in all, we spent a couple grand on the landscaping on both sides of the house. The work we had done should boost the property value and help it rent quicker when we list it, which will we plan on doing in a little less than a year.
Anyways, let’s get into this month’s numbers.
December 2021 Net Worth Numbers
As a reminder, my net worth last month was $97,940.91.
Assets – December 2021
We’re in the middle of a widespread dip in the stock market. A lot of my holdings were not spared.
I’m still funneling a few grand per month into my stock portfolio (mainly my M1 Finance account).
I could have added some value to my primary residence after the landscaping work, but I decided to leave the value where it is. I’m basically counting the landscaping expense as a loss for now.
Some of that cash was recouped by a scholarship my wife just won for her audiology program. She put together a business plan for a competition, gave a speech, and won a couple grand from that.
Meanwhile, my small cryptocurrency portfolio has surged following the recent dip this summer. Tremendous.
This leaves our assets at $724,575.51.
Liabilities – December 2021
Our credit card balances are a little bit high because of holiday shopping, but I always pay those down almost immediately.
We’re working towards paying down the HELOC a bit more until we find another real estate deal. We have about $50,000 that we could still pull before reaching our max limit.
By paying it down, we’ll save a little bit of interest (it’s only at 2.25% per year right now) but we can also take the funds out again if we want to.
Once my wife is done with school, we’ll definitely focus more on paying down her student loans. It wouldn’t make a lot of sense to funnel cash into that now, considering they’re currently at 0% interest with no required payments.
Thus, our liabilities this month are $623,015.26.
My Net Worth – December 2021
All in all, that leaves us with $101,560.45 in net worth.
That’s an increase of $3,619.54 from last month.
That leaves our debt ratio at 85.98%.
And our passive income remains at $950 per month.
Surpassing $100,000 – What’s Next?
We’ve finally surpassed $100,000!
So we’re 10% towards our goal.
There’s a long way to go, but it is nice to be over the symbolic $100,000 mark. We’ll see if it lasts…!
I do have a feeling that there may be some pretty good stock buying opportunities soon. I’ve started to buy some more of my current holdings that have fallen below my price targets.
I’m expecting December to be a pretty big stock month – but, I am still looking for a real estate deal. My stock portfolio’s main purpose is still to become collateral for a large portion of my real estate investing funds.
Whether it be buying real estate and stocks, or simply paying down debt, now isn’t the time to back down.
In any case, I’ll be sure to keep you posted.
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