December 2017 Net Worth Update – I’m a Quarter Millionaire!

Here goes another net worth update, my last one for 2017 🙂  This month I had $16 grand coming in and $3 grand going out.  Breakdown below:

Increases – $15,748.22

  • After tax income – $12,821.06
  • HSA contributions – $283.38
  • Interest from checking and savings accounts – $26.29
  • Travel reimbursements – $226.50
  • Gain on investments – $2,390.99

Decreases – $3,215.48

  • Rent, utilities and deposit – $2,230.96
  • Christmas shopping – $120.68
  • Holiday travel – $226.50
  • Other expenses – $637.34

Net increase – $12,532.74

Not too shabby.  As you can see, my income was higher this month thanks to a $2,500 (pre-tax) bonus from work.  And with the exception of one last HSA contribution at year end, I’ve maxed out all of my retirement accounts.  Next year, I plan to do the same.

In fact, I’ve elected to contribute 100% of my paychecks in 2018 to my 401(k) until I’ve reached the new $18,500 contribution limit.  Why?  Because this’ll save me 40% in taxes.  This means that no matter what investment vehicle I dump my contributions in (hint, S&P 500 index fund), that vehicle will have to drop more than 40% for me to lose money.  No brainer right?

In other news, my fiancée and I did quite a bit of traveling over the holidays, which included a visit to my folks in Atlanta.  Luckily, my Chase Sapphire Reserve reimburses up to $300 per year in travel, so I’ve already gotten $226.50 back.

So with travel, rent, Christmas shopping and other expenses, that leaves me with a $12.5 grand net increase for the month.  Not too shabby indeed.

And now I’m officially a quarter millionaire! 😀

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