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Year to date net worth changes

May 30th, 2021 at 09:28 pm

Bank accounts: up 22% but balance is still too low.  I've been putting $$ in retirement and paying down debt rather than adding to my bank account balances lately. 

I try to keep a few thousand in cash/CDs in my Roth IRA rather than investing it.  That cash serves as a potential emergency fund since I can pull it tax-free if needed, and if not needed, it adds to the Roth IRA balance.  I'll do this for another year or so while I try to aggressively reduce debt and then invest the cash inside the  Roth.  (You can take contributions but not earnings tax-free from a Roth as long as the account has been around for at least 5 years.  I'm now over 59.5 so I don't need to worry about taking the earnings--under 59.5, you have to worry about taxes and a 10% penalty.) About 1/3 of the total Roth IRA is in cash, the other 2/3s IS currently invested.

Retirement accounts: up 6.2%. I currently contribute 22%, get a match of 3% plus a profit-sharing plan contribution, which comes in early in the year.

Use assets (home + car): up 12.8% due to living in a relatively hot real estate market.  With the coronavirus, people living in NYC have flocked to eastern Pennsylvania, where I live.  Houses that go on the market here typically sell within a few days and often at above-asking price.

Overall asset increase YTD = 7.6%.

Debt: down 7% YTD

Net total: up 9.4% YTD

2 Responses to “Year to date net worth changes”

  1. terri77 Says:
    1622470792

    It’s been another great year (so far) for the market.

  2. rob62521 Says:
    1623078689

    Like you, we keep a few thousand as an emergency fund so we don't have to pull anything out of investments. Honestly, I think you'll be pleased you put more money in retirement when retirement comes.

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