November 2015 Net Worth…

you untitledBefore the New Year begins and we start our journey of total consumer debt annihilation, we thought it would be a good idea to do a post on our current Net Worth!

What is Net Worth you ask? …

Well, the basic definition is the sum of ones total assets less or minus their total liabilities. There are many different or subjective ways to calculate net worth and you will see this vary from person to person and website to website. However, at the end of the day, there is no real right or wrong way to track Net Worth as long as the fundamental principles are there and you start!

We plan to complete monthly updates of our Net Worth along with details on consumer debt pay offs, stock portfolio purchases, and dividend income increases. We are mainly doing this to hold ourselves accountable, however, it also allows others to track the progress with us, and who knows, maybe provide some needed cheers of encouragement to us along the way.  Besides, how can you know where you’re going if you don’t know where you’ve been and how can you know how far you’ve come if you don’t know where you started? For our first Net Worth post, we’ve decided to provide a detailed breakdown of our asset and liability categories.

ASSETS: noun; items of ownership convertible into cash; total resources of a person or business


Our cash consists of cash held in our brokerage, checking and savings accounts.  Of course, cash in checking accounts will vary day to day as we make purchases and receive paychecks.  Cash in brokerage accounts will vary as dividend payments come in.  Cash also consists of Vacation Leave at both of our jobs .


Our monthly home value will be pulled from Zillow, only for the sake of consistency. However, we have decided to apply a 15% discount rate to the value in addition to weighing it against other comps in the area to ensure we have a conservative estimate..


Combined, we have several individual retirement accounts.  Mr. TOL has a 401k and a 457 through his current employer. He also makes  contributions to ERS, a retirement plan administered to employees of the State of Georgia.  Mrs. TOL has a 401k and ROTH IRA with Schwab as well as a  Thrift Savings Plan (TSP).


Together we own a 2012 Toyota Camry and a 2013 Kia Optima Hybrid.  Our car values will be pulled monthly from the NADA website using the “average trade in value”. These estimates are conservative as we believe our cars are in better than average condition.


Our investments consist of a portfolio of various dividend paying stocks.  This portfolio is our ticket to Financial Independence, as we plan to one day, very soon, live off the money it returns to us every month.  The portfolio currently consists of a mix of REIT’s ( Real Estate Investment Trust), high-yield (>4%) stocks, a few Dividend Aristocrats (stocks that have paid increasing dividends for at least 25 years), and a few other companies  to fill out the rest.

LIABILITIES: noun; moneys owed; debts or financial obligations


This is an area of guilt and remorse.  The current credit card debt is very manageable, however, I remember a time in our life when this  was not so.  We’ve come a long way.  We have two credit cards with balances and several other credit cards that are utilized only for point accumulation and redemption.


We actually knocked out a ton of student loans during 2015; therefore, the amount carried into 2016 is is only $3,400.  The interest rate is ridiculous at 9% so the plan is to crush this immediately at the beginning of the year.


We live in a very affordable and comfortable home in Columbia, South Carolina.  Our home has 4 bedrooms and about 2,200 square feet in a nice middle class neighborhood.  Mrs. TOL actually owned the home when we met and Mr. TOL moved in after marriage.  We have no plans of moving and look forward to paying it off very soon, as she got a great foreclosure deal on it and the and the mortgage is lower than the average rent for a one bedroom apartment. Score!


Our cars are newer, as the Camry was purchased in July 2013 and the Optima was purchased December 2013. At this time in our lives, we both commute long distances and travel frequently for our jobs so the necessary evil was to ensure we both have dependable rides that could handle our long distance travel.

And now… the main event…what you’ve all been waiting for…the numbers!

NET WORTH: November 30, 2015
STOCKS: $2,548.10
CAMRY: $12,125.00
OPTIMA: $15,075.00
HOME: $104,392.75
MR. TOL LEAVE: $7,569.09
MRS. TOL LEAVE: $2,826.43
CASH: $11, 849.10
RETIREMENT (combined): $59,599.26
TOTAL ASSETS:  $215,984.73


STUDENT LOANS: $3,440.94
CREDIT CARDS: $6,920.00
HOME: $92,060.68
CARS: $29,406.67
NET WORTH:  $84,156.44

So there you have it, folks!  Our first net worth post, EVER…and it’s a positive amount!  Financially, we’ve come a long way in the few years we’ve been together, and we have a lifetime to go!

Our net worth goal for the end of December 2016 is $140,000. Check back and see our progress in all areas as we grow, become debt free, build a life-sustaining portfolio, and achieve Financial Independence!  See you soon!

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