Welp, it seems like Spring lasted about 2 days. In last month’s post Spring was just arriving, now we’ve gone straight to Summer in no time flat. It’s time for the monthly net worth update. Did our net worth number grow as fast in May as Spring changed to Summer?
As always, you can check the latest and greatest info on the Track Our Progress page.
First, the numbers:
Net Worth:
- End of May Balance: $346,179 Up $6,685 (1.97%)
- (New)Year to Date (YTD): Up $41,179 (13.5%)
Portfolio:
- End of May Balance: $258,329 Up $4,186 (1.65%)
- YTD: Up $18,329 (7.64%)
Monthly Contributions: $1,700 Same
Positive gains for the 2nd consecutive month. Nothing earth shattering but green is good nonetheless.
Recap
529 Shuffling – As part of our continuing move from Edward Jones (see posts I and II for more details), we’ve finally gotten our daughters’ 529 plans shifted over to Missouri’s MOST Plan, which features Vanguard fund options. The expense ratios are a tad bit higher than Vanguard’s own 529 plan, but there are no minimums with the state’s plan. Plus, there may be some tax benefits down the road.
Rental Fun – our current tenants are letting property maintenance slide. Most of my family lives near our rental and I am starting to hear from them about it. I figured tenants wouldn’t take care of the place to my standards… but I also figured they would at least keep it from turning into a jungle. Not so…
If they had a dog, they could probably recreate this gif:
I’m having our property manager lean on them to right the ship. Their lease is due up at the end of October and I am not sure I see a new lease in their future. If they are out, then would we hunt for a new tenant or try to sell the place? This is a question we’ll be debating over the next few months.
Crazy Housing Market – fueling this debate from the other side is a frothy real estate market. The house across the street from us (a single story) just sold and this week we found out the sales price was about $10,000 more than we paid for our house (a 2 story) about 2.5 years ago!
We’ve tried to sell the rental twice. Initially, when we bought this house and again last year. Both times the house was apparently priced too high and we are adamant not to lose money in the process. It’s just one of the benefits of buying at the top of the market (2008) right before the crash! Is the third time the charm?
The market is often very different in my hometown than my current area. Additionally, most moves in my hometown occur immediately prior to the school year. With the tenant’s lease up in October (well after the start of the school year) I suspect that third time will have to wait.
On Deck in June
The Car – We have decided that the new car will be paid off in June. With that move, we will be back to being debt free (minus the primary & rental mortgages). After that, it’s time to start pushing the 401k contributions.
Raise? – June is a month of performance evaluations and annual reviews at Mr. HoF’s work. Typically, any raises will come towards the end of the month. I’ve got my fingers crossed for a decent raise! Wish me luck!
Switching up Insurance – We’ve been with our current insurance agent for over a decade. We like them, but suspect the premiums are getting out of hand. I’ve been getting quotes, and based on early returns, it looks like we will be switching carriers. Hopefully for a good savings with minimal work! That’s my favorite way to save money!
I hope you’re making progress on your own paths toward Financial Independence. Thanks for reading and check back in next week!