June 2011 Personal Net Worth

Below is the latest snap shot of our personal net worth. I share these numbers so that you will encourage me and keep me accountable. Also, I share so that you can see how the information on this blog ties into my actual strategies for building wealth (aka security and freedom).

This personal net worth statement includes Mrs. PT’s stuff, but it doesn’t include my business data. I will attempt to update this each month and thus, let you guys in on my progress. After all, net worth isn’t worth much on it’s own (for all you know, I could have inherited this money). Thus, net worth should primarily be used to gauge if you are moving in the right direction.

Check back next month to see how I’m doing.

(notes to explain some of the accounts)

Checking – Nothing too exciting here. We do most of our spending using our Chase Freedom cash back credit card. The way we have our bank accounts set up, the credit card is paid off automatically, in-full each month from this checking account. We also pay a few small bills directly from this account. My main goal with this account is make sure their is enough money here to cover the credit card bill in full. This account is held right now with Capital One 360.

Emergency Fund – I’m a big fan of keeping emergency cash on-hand. It must be FDIC insured and liquid. It’s a bonus if this money can earn a bit of interest. That’s pretty hard to come by these days. $15K is not enough of an emergency fund for my risk tolerance. I’d like this account to be around $30K by the end of the year. This account is held right now with Capital One 360.

Property Taxes – We do not have the mortgage company escrowing our property taxes for us. We pay them ourselves in December or January, depending on our tax strategy. The tax rates are pretty high in Texas since we have no State income tax. I put around $350 into this account each month.

Rollover IRA – This is my old 401K. After I quit, I moved it here. It’s sitting in a target-date fund now with Vanguard. I won’t be contributing to it. My efforts will be on my Roth IRA and a possible SEP IRA I want to set up.

Roth IRAs – We opened these Roth IRAs back in the Spring of 2009 and have made the maximum contributions to them in tax years 2008, 2010, and half the limit in 2009. Right now we have an automatic contribution of $100 per month going into these accounts. It’s not much, but it’s something, and I’ll let me business determine if we’re able to true them up to the maximum at the end of the year.

Traditional IRA – This is my oldest retirement account. I’ve had it since 2001. I’m not sure what I want to do with it now. I do like having it as a option though.

403B – Mrs. PT used to be a teacher. A great one, actually. Anyway, she saved up a bit using this 403B (it’s just like a 401K) and hasn’t contributed to it since she quit and we went to one income. She needs to roll this over to Vanguard. She has the Rollover IRA setup, she just is having trouble getting the funds transferred.

HSA – We just drained our health savings account on $6,000 worth of baby delivery related medical expenses. I will need to bulk it up towards the end of the year.

529 Plans – We have one for each of our girls. We opened them up with Ohio’s CollegeAdvantage plan. We contribute $25 a month to each plan, and we throw the occasional “found money” or gift money in there. We also have some generous grandparents to help fund them.

Townhome – We’ve owned this bad boy since 2007. We purchased it at the height of the market, for about $10K more than Zillow is appraising it for now. I suspect that this will be one of the most in-flux accounts on this list. We live in a new neighborhood and Zillow has historically been all over the map with regard to our home’s value. We will probably add some more real estate in 2012, and will keep this one as a rental investment.

Cars – These are estimates from Edmunds.com (trade-in value). We actually just paid off car #1 early since we needed to free up some income for the home refinance we are doing. We are considering selling car #1 and going to one car for a while. This will free up some cash to help us get to our next home down payment quicker.

Mortgage – We are currently in the process of closing on a refinance with the folks at Quicken Loans. This will enable us to drop our rate from 2007 levels and possibly rent out the home in the future and be able to “cash flow” it. Right now we have no plans to aggressively pay off our mortgage.

Credit Card – This is our Chase Freedom card. We use it as much as possible so that we can rack up cash back reward points. We pay it off in full each month. In June we spent more than the usual.

[note about debt] We weren’t always “debt free, except the mortgage”. Over the years we’ve made a big effort to pay off our high interest car loans and student loans. Check the archives for those older debt updates.

I’m tempted to close comments on this first net worth post because there are really no changes to discuss. However, I realize you might have some feedback or questions with how we have everything structured, so fire away in the comments below…

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Last Edited: July 25, 2017 @ 6:52 pmThe content of ptmoney.com is for general information purposes only and does not constitute professional advice. Visitors to ptmoney.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.
About Philip Taylor

Philip Taylor, aka “PT”, is a CPA, financial writer, podcaster, FinCon Founder, husband, and father of three. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or Google+. Listen to the new podcast, Masters of Money!


  1. I just have to add about your Zillow volatility thing. Our “Zestimate” on our house has varied by upwards of $8K for the last 6 months! One problem I have is that it maps our house (as does Google maps) two doors down – which sits our street address on top of a house that’s about 1,000 square feet smaller than ours.

    We’re underwater anyway, but it’s frustrating. I need to make the time to see if I can get Google Maps to change the address marker, and if I can, then maybe Zillow will “move” us too, and then who knows? Maybe our value will go up again!

    • We faced a similar problem, Joan. We live in a fairly new neighborhood and so it took them a while to figure us out. Frustrating, because it forced me to use manual calculations on all of my online aggregators (Mint, Adaptu, etc.)

      • Jenna, Adaptu Community Manager says:

        Adaptu does do home estimates. However, if you live in a newer neighborhood I could see how it would be trickier to update. What about having your realtor come in annually and do one in depth house estimate and just manually use that for the year? Or do you want something with a little volatility?

  2. I can’t believe it took yous so long to know you needed to be held accountable to us readers! lol

    Why did you choose not to have the escrow your taxes?

    • Mostly because I want control. I don’t think my mortgage company should be involved with my insurance and taxes. Those are things I want to do myself, at my own discretion. Real estate taxes are high here in Texas, so I get to hold $4,000 until I have to pay it. And I get to decide if I want to pay it in this tax year or next. That flexibility is valuable come tax time.

      There is a small cost to doing this though. Most lenders, I have since learned, will charge you an extra % for escrowing. If you can get out of this, then it’s smart to be your own escrow, I think.

  3. Cool! It’s neat to see a picture as well as explanation. Like the credit card would have thrown me off without an explanation, for example.

    I did our net worth about 4 years ago and all assets totaled something like $400? And that was with a little bit in retirement accounts. We were just in debt. Now, it’s much better. I plot it out every few months or longer just to get an overall idea of where we’re at.