September 2010 Net Worth Update +($6,826.81)

After taking a small step back in August, our net worth rose again in September. It increased $6,826.81from last month, to a total of $99,593.46 (click on spreadsheet below). Darn close to $100K and on our way to reaching our 2010 net worth goal of $105,700.

What Worked

We contributed $813 to our retirement accounts and saw them increase a whopping $5,891.03 to $71,979.55. We also increased our savings account by $1,116 to a total of $4,731.79.

What Didn’t Work

We’re still falling behind on our retirement account contributions, but may end up focusing on our savings account balance instead. I tried to sell back some vacation time to my company, but they asked me to wait a bit due to the economy.

Next Month

October may be our largest milestone yet because, God willing, our net worth will surpass $100,000.

Retirement Savings Just Passed $70,000

Our retirement accounts balance (401k, Roth IRA, and Traditional IRA) just passed $70,000! As of this morning, our total retirement savings is $70,169.27. Still a long way to go to early retirement, but we're on our way.

August 2010 Income Statement

While we missed some of our investment goals in August, our income and expenses were on target.

In addition to our paychecks, my wife received a $75 reimbursement from her company for internet and cell phone and a $96.36 reimbursement from her company for a new phone. We also received a $100 rebate from Verizon for her new phone and $61.59 in reimbursements from her H.S.A. account.

Expenses were reasonable, even considering a mini vacation that we took to Malibu and new cell phones for both of us.

September may be an extra strong income month because my wife receives a $500 special bonus check from her company and I hope to sell 5 days of vacation back to my company. I will also be out of town for 1 week, hopefully reducing some of our expenses.