I live, write, and garden in the PNW with my husband of 28 years, disabled daughter, adult son, and my 84-year-old mother. We have paid off $250,000.00 worth of debt (if you include the interest) in the last fifteen years and as of 6/12/2020 are 100% DEBT FREE!!!!The last time I updated my sidebar my retirement sat at $174,400.86 for the combined 401K and IRA. The total is now at $199,429.57. It was almost at $200K, but there was a downturn in the IRA last two weeks. I am seriously thinking about moving it over to the same company that manages the 401K and putting it in the same fund that doesn't seem so sensitive. Anyway that is an increase of:
$199,429.57 New total
-174,400.86 Old total
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$25,028.71 Rise since June 30th
That brings total retirement funds to $266,268.31. So we have passed the 1/4 of a millioniare mark. Wasn't sure we'd ever see it. Next big goal is half a million.
Unfortunately our emergency fund is non-existant, as we had to put in a new furnace. It went in yesterday. We were without one for 3 weeks and just using space heaters, which was not fun. Fortunately, the temperature at night never got below 40 outside. Today it has dropped into the 30's so just in time, I'd say. And we had to get tires, so the EF is down to $84.37. Not the best number and I am far from happy about it. But at least we could pay cash, which is far better than incurring debt. And to be frank, I would have taken it out of the money we have been saving to fix the gutted bathroom before we would have taken on debt. But this is what an emergency fund is for. Now to rebuild it.
New net worth amount is now $299,243.58. So not the $300,000 I could have ended on with just $1000 more, but oh, well. I mean, I do have $15K in the bathroom fund and $1K in the anniversary fund, but those are sinking funds, so don't really count. Net worth at the end of 2023 was $238,973.61.
$299,243.58
-238,973.61
-------------------
$_60,269.97 Increase in Net Worth
The total in my 401K and IRA at the end of 2023 was $143,668.67.
$199,429.57 New Total
-143,668.67 Old Total
-----------------------
$_55,760.67 Amount of Increase
We contribute 16% and work contributes 5% match up to a $6000 max contribution for the 401K. So that's pretty much it.
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