It’s time for the first update of my net worth tracker in 2020. I’m a little late on this update for January, but I did update my net worth back in early January on excel, but I been too lazy to write about it here. Let’s hope this lazy stage of mine doesn’t last much longer.
Wealthfront Savings: $0 (- $13,090)
I moved all my money to Robinhood, now that I have access to Robinhood’s cash management. I’m able to hold the money for my mortgages and pay them directly from Robinhood and also now have all my direct deposits on Robin hood, which makes everything hassle-free.
Robinhood: $35,580.15 (+ $15,722.81)
Like I said above, all my money is now sitting in Robinhood. If you want to invest with Robinhood, you can get a free stock using my referral code. They are currently giving you a 1.8% return on your cash as well.
Webull: $23.34 (+23.24)
I got two $12 stocks by referring my nephew to join. I will eventually sell these and move the money over to Robinhood. If you’re interested in trying your luck with two free stocks that could potentially be worth up to $1,000 use my referral link.
Lending Club: $459.53 (- $3.02)
I stopped adding money to this account. I have my account set up to auto-invest, so every time I get $25 in payments from my loans, it will auto-invest in a new loan. I’m down $3 this money, possibly due to some loans defaulting.
Retirement Account #1: $68,391.75 (+ $3256.05)
Nothing out of the ordinary, just my regular contributions with matching.
Retirement Account #2: $35,030.99 (+ $3,332.32)
A second account with regular contributions and matching.
ALQO ( $120)
A cryptocurrency I hold a small number of coins in.
Condo: $393,062 (+ $4,435)
A 4.5k increase this month recovers most of the 7k loss from last month.
Condo Mortgage: -$366,553.12 (+ $668.39)
My mortgage principal was paid down by $668.39. Primarily it’s a savings account for paying a mortgage. Some people say a house you live in is a liability. I agree, except it’s more than that. It’s a liability that also as the potential to grow in value. With principal pay down the property acts as a savings account, and with tax reductions, it reduces the amount of taxes you pay on the money you earn. It can eventually turn into another rental property and change from liability to an asset.
Rental #1: $240,092 (+$1,832)
A $1,800 increase for this month
Rental Mortgage: -$152,130.54 (+ $352.47)
My tenant paid down another $352 of my mortgage. Rental properties are excellent, $352 principal pay down, $399 income, and then tax benefits for paying interest and depreciation.
Net worth: $254,405.23 (+ $14,575.42 or 6.08%)
This year is starting on a positive note, and we recovered half of what was lost last month.