December 2018 Balance Sheet

By | January 6, 2019

Instead of doing September – November balance sheets, I thought I would just go ahead and wrap up the year since I am behind. Let us see how we did on increasing our net worth!

Savings #1$8,671$7,172-$1,499
Savings #2$4,642$7,792$3,150
Investment Account$0.00$10.05$10
Current Assets$21,376$19,254-$2,121
Roth IRA$71,629$70,146-$1,482
Profit Sharing$9,090$15,372$6,281
Car #1 (KBB est.)$5,646$4,633-$1,013
Car #2 (KBB est.)$14,255$13,410-$845
House (Mutliple)$262,384$269,909$7,525
Other Assets$400,698$423,350$22,652
TOTAL ASSETS$422,073$442,604$20,531
CC #1$3,488 $2,482 -$1,005
CC #2$902 $880 -$22
Car #1$0 $0 $0
Car #2$9,284 $0 -$9,284
Mortgage$206,214 $202,272 -$3,942
TOTAL LIABILITIES$219,888$205,634-$14,254
NET WORTH$202,185$236,971$34,785

Although not the $50,000 increase I was hoping for back one year ago, increasing your net worth by almost $35,000 is nothing to be upset about. There are things we can do to help this number grow, and I have every expectation of getting to $300,000 in by December 2019.

The biggest change I am upset about when looking at the balance sheet is the Roth IRA. We put in $5,500 in the account and it still was down for the year. This was due to large exposure in emerging markets which got hammered this year. Time to take a look at the portfolio.

The best thing on the balance sheet, besides the $34,785 gain in net worth, is the fact that we paid off the second car, and now are essentially debt free except for the mortgage. 2018 was a good year, but I hope that 2019 will be a great year for us and our finances!

-Financial Raider