Net Worth Update | December 2019 | $265,691

I hope you all had a wonderful holiday season and were able to enjoy the company of your loved ones. December was a great month financially and just overall! I got to enjoy lots of time with my parents and sibling. I ended 2019 with over $265,000 and hope to continue my growth into 2020. In my post next week, I’ll be sharing everything I spent money on in 2019.  

Before I jump into my net worth, I share one way I saved money, one way I invested for my future and one purchase I regret. I hope this will give you ideas on how you can save money and invest in your future.

Saving Money

I spent $207 on a Dyson Hot + Cool fan. I had been planning this purchase all year but was waiting for the best sale. My ideal indoor temperature is 75 degrees, which can get expensive in the winter time. With this fan, I won’t have to heat up or cool down the entire house and it’ll hopefully lower the utilities bill. Also, it’s safe to use around as it isn’t hot to the touch like my old safe heater was.

Investing in my Future

I ended the year by adding more shares of Boeing (BA) to my stock portfolio. This will increase my dividend income by about $82 each year. I also spent $514 on two CPA exams that I plan to take in January and February.

Regretful Spending

I didn’t have any expenses that I regretted this month. I did overspend on gifts and charitable giving, but I don’t regret it. I know the money I gifted, meals I paid for, and gifts I gave brightened someone’s day and were great ways to spread joy. Most important of all, I had money saved, so I wasn’t financially strained by doing so.

I use a combination of Excel and Personal Capital to track my net worth and financial accounts.
  

  

Cash: $92,179 (+3,762)

My cash amount increased this month, because I kept most of my income from my accounting job and increased my savings.

I have a large portion of my net worth in cash for when I purchase my first home. A significant portion of this amount will go towards a 20% down payment and furnishing my house. Don’t worry; it is held in a high yield savings account.

Brokerage: $52,292 (-38)

I contributed $850 to my brokerage accounts this month. I sold my Chewy (CHWY) shares at $28.37 and purchased shares of FedEx (FDX) at $152.51.

In my brokerage accounts, I invest in a mix of individual dividend paying companies and growth stocks.

401(k): $55,827 (+2,326)

The majority of the increase was related to market gains. I only contributed $213 this month, which allowed me to max out my 401(k) ($19,000) for 2019.

I contribute 30% of each paycheck to my 401(k), until I max out the contributions, and my employer matches a small portion of my contributions based on my salary. The contributions are automatically invested in the following index funds:
- 16% Blue Chip Growth Index Fund

- 16% Large Growth Index Fund

- 17% Mid-Cap Growth Index Fund

- 50% S&P 500 Index Fund

Roth IRA: $59,026 (-1,026)

December’s market loss were mainly due to Boeing’s (BA) suspending productions on their 737 MAX aircraft. Since their stock price dropped, I added a couple more shares at $325.

In my Roth IRA accounts, I invest in a mix of individual dividend paying companies and ETFs. You can see my stock portfolio holdings to see what companies and ETFs these are.

Pension: $3,147 (+10)

My employer contributes $10 every month to my pension.

HSA: $3,220 (+972)

I have a high deductible health insurance plan that allows me to have a health savings account (HSA). I contributed $875 from my paycheck towards my HSA this month. In order to contribute the maximum allowed for the 2019 tax year ($3,500 for single or $7,000 for married), I have $438 remaining to deposit in January 2020 to go towards my 2019 contributions. Remember, you have until April 15, 2020 to contribute to your HSA to reduce your 2019 taxable income.

My employer does not contribute to my HSA, only I do. My brokerage firm charges a quarterly fee of $18 to maintain my HSA. I try to not pay any fees, but this one is unavoidable and my current income tax deferral ($770) outweighs the annual fees ($72).   

100% of the contributions are automatically invested in a S&P 500 Index Fund. Unless a medical emergency occurs and my personal savings are depleted, I will not withdraw from this account and will let my contributions grow. I will be saving my receipts for qualified expenses and request reimbursement when I retire.  

How was your December?

I would love to hear how your month went with all the impact Christmas can have on your finances! If you have a financial blog, please let me know below, so I can follow you along your financial journey.

I welcome feedback and suggestions!