Net Worth

Net Worth | June 2020

Our June 2020 net worth continued to increase and the hit from the recession is nearly erased. The markets are volatile, but we are still able to work!

Welcome to the June 2020 edition of our net worth tracker, where we’ll track our net worth month over month. I first started tracking our net worth at the time this blog was started, which was the beginning of September 2019. I started by creating the Net Worth Baseline report.

You can view Previous Net Worth reports HERE.

It’s June and things are starting to heat up here in Texas. We haven’t had any 100-degree days yet, but I’m sure it won’t be long. June was still a volatile month for the markets, but overall, it wasn’t that bad.

Just like the last few months, I’m not going to talk much about what I did this month because, well, we didn’t do much, although there is one bit of exciting news! It was an overall calm and relaxing month for us.

Monthly Roundup

Well, traffic seems to be back to normal, and the grocery store seems busier. We continued to work right up until the end of the month, but we now get some time off work. Why? Well, that’s where the exciting news comes in.

Our baby is finally here! A day before her due date. Life is good.
If you recently had a child, don’t forget to fund their college education. I use the Vanguard 529 plan.

Other than that, life is normal…. well, as normal as it can be right now.

June 2020 Net Worth

Here’s how June compares to last month:

June 2020 Net Worth Summary

June Account Breakdown

Let’s take a quick look at what happened in June.

Cash (-$1,624.54)

Monthly Blurb: This is where our paychecks get deposited. All our income goes into this account, then gets transferred to the proper accounts as set by my budget. As usual, I do the net worth report before transferring money to the appropriate accounts.

June was back to normal as far as paychecks go, so that explains the drop in our cash accounts. And we didn’t get anymore stimulus. I’ll take that as a good sign.

Investment Cash ($6,585.12)

Monthly Blurb: All of our cash leftover at the end of the month is transferred here and is considered part of our saving’s rate.

Now that the 529 for baby #2 is fully fund, we actually have to pay for the delivery of baby #2. The bills haven’t come in yet, so all of our extra money is going towards investments this month.

We expect the bills to start coming in towards the end of July. After that, we finally get back to normal and start to save towards investing. Hopefully some opportunities come up this winter.

Remaining Cash Accounts (Emergency and Sinking Funds) ($1,095.45)

Nothing exciting here. Just the usual. We are just saving up for our property tax bill and HOA fees for when they are due early next year. The amount we contributed this month was offset by having to pay for property insurance.

Retirement Accounts

401(k)s (+$4,042.99)

The markets stayed on the rise again, but nothing like the last couple months. Up a little over 4%. Still pretty good!

No one knows what to expect, so it seems the markets are just kind of hovering.

IRA (+$6,664.81)

This increase is all due to the rise in the markets. They rose about 5% this month, slightly less than the 7% last month. Again, that is still pretty good.

College Fund (+$1,182.00)

Just like the other investments, the college savings rose as well. A nice 3% increase month over month.

Net Worth (+$15,699.70)

I’m always shocked at seeing how much our net worth can change in a single month, especially when it feels like nothing really happened. I’m still a little curious about what is going to happen around election time. It’s not that far off, and I expect we will see some large swings in the market come November.

In total, our net worth increased by almost 4%.

Accessible Net Worth ($4,991.90)

Monthly Blurb: This is the money we are able to put away, not including the tax-advantaged retirement accounts.

Our income was average and our expenses were about average this month. Our accessible net worth increased mostly because of shoveling money into our investment account.


Status: None, as usual. They’re a burden, so I avoid them. The cars, the house, they’re all paid for. Student loans…never used them. Credit Card debt? I only use one, and it gets paid off every month, and often I’ll pay it off multiple times per month. Just depends on how many times I think about it.

Passive Income

I am starting to see what I assume to be the effects of dividend cuts. June 2020 was the second lowest June I’ve had since I started keeping track in 2017. And it barely squeaked by at a dollar more than 2017’s June dividends.

So, the tension increases as the lull until September continues. There are a lot of companies cutting dividends, so we’ll see how that continues to change this year’s dividend payouts compared to previous years. Also, the fed is forcing banks to cut dividends.

The interest rate keeps dropping lower and lower as the federal reserve keeps cutting rates. It dropped more this month from 1.1% to a meager 0.8%. My money is barely making any money sitting in that “high-yield” account.

June 2020 Passive Income

Saving’s Rate

Monthly Blurb: I track my savings rate in order to help keep my feet to the fire, so later I can be Gone on FIRE. As a bonus, you get a glimpse into my cash flow by looking at the income and expense rows.

In March, I adjusted my savings rate goal to 50%, down from 60%. It seems like 50% is a more attainable goal, while still having to work for it.

We missed that 50% goal this month thanks to a shopping spree I went on the last day of the month! I found a great deal on tools that I wanted to make sure I didn’t miss. Hopefully I get to use those tools soon on an investment property.

Our Year-to-date savings rate is just short of 50%. I anticipate the next few months will have a low savings rate though, since we are cash flowing the cost of a baby. Hitting that 50% target is going to be tuff!

Here’s how we did this month.

June 2020 Savings Rate

Income ($8,363.82)

Right now, our only source of active income is through our full-time jobs.

This is what an average month looks like for us.

Expenses ($4,958.09)

Our expenses were slightly above average this month.

Here is a quick break down:

1) Home Escrow ($1060.00)

The “new” normal amount we put aside every month.

We adjusted this due to an increase in home insurance. Without the increase, we would have a shortage come January if property taxes stay the same, or increase.

2) Giving ($836.38)

The usual 10% we give every month.

3) Cost of living ($3,031.71)

Previous Months: May: ($2,957.92), Apr: ($2,164.31), Mar: ($3,078.52), Feb: ($2,474.38), Jan: ($4,708.98), Dec: ($2,749.98), Nov: ($1,242.44), Oct: ($3,040.36), Sep: ($1,238.39)
Running Average: $2,628.09

This includes all our bills (Gas, Electric, Water, Internet, Phone), transportation, food, shopping, and daycare. Home insurance is paid for out of our Home Escrow savings account. Starting in July, we are going to use the dependent care account to pay for day care, so we should see a decrease in the cost of living after the medical bills are paid.

I’m sure like most of you, we just aren’t driving as much. Our gasoline bills stayed pretty low. However, our utility bills are going to increase as the weather heats up.

As I mentioned, I went a little shopping crazy this month. I ended buying some tools that went on sale at a good price.

June 2020 Vs May 2020 Expenses

June’s expenses were very similar to May. And I went shopping crazy two months in a row. I need to cut that out.

Goals Progress

June Goals Progress

Financial Goals

We met our target to fund our Roth IRA’s by the end of March.

We met our target to fund baby #2’s 529 plan early, having finished at the end of May.

The remaining goals are year long goals. We’ll have to wait until the end of the year to see if we accomplish them.

As expected, I am on track to have a maxed out 401(k) by the end of the year. It’s all automated, so as long as my job status doesn’t change, we should be good.

I did not actively do anything to increase my passive income, other than contribute to retirement accounts. Hopefully this is happening passively. As expected, we saw a good portion in March, and a personal best in April. However, there are a lot of dividend cuts happening, and since this was a stretch goal to begin with, I’m not sure we will make this one.

My goal of having a savings rate greater than 50% is very close. I’ll have to see what the coming months look like.

Blog Goal

At the beginning of the year, I increased my presence on social media by being active most days of the week.

The increase seems to be increasing my followers on twitter, but not really to my blog. I’ll have to think more on how I want to proceed with social media like Twitter.

I’m also still working on some stuff behind the scenes here, such as PDFs and calculators. I’ve created a few PDFs, but have to figure out how to deliver them. Stay tuned for that!

Hopefully y’all are enjoying the site redesign of Gone On FIRE. It should make for a better user experience and help get you to where you want to go.

Personal Goals

I fell behind on my reading goal this month. Hopefully I can start to catch up this month. I’m enjoying the book, but have just been busy with other stuff.

My weight continued to improve slightly since last month. That’s three months in a row of improvement, and I’m gaining ground positive territory for my goal. I’ve continued running. I’m going to try running at the gym as it gets too hot to run outside.

June 2020 Roundup

The month of June was a good one. The weather was nice, my net worth continued to grow, and I got to spend a bunch of time with my family, as well as meet the newest member of our family!

We’ll see how July goes, as the world questions its return to normal.

Stay tuned for next month’s New Worth update. In the meantime, comment and let me know what stats you would like to see.

FIRE Away!

  • 2 big items not included in my net worth:
    • House & Cars – Their value will be added to my net worth if and when I sell them.
  • 2 accounts not included in net worth total (even though they’re listed):
    • 529 – This is my baby’s money. Consider it her net worth summary.
    • Home Escrow – This is Uncle Sam’s money. We don’t mess around with him.
  • Total income only includes our active income, which is currently our full-time jobs.