First Financial Update

So here it is, the details! I’m a bit of a spreadsheet junkie, use them to manage my monthly budget and to keep track of my net worth. Without further ado, here is how everything currently breaks out:

Net Worth
Account           Value
Savings            $40,000
Etrade              $130,000
Fidelity 401K    $32,000
Collectibles      $90,000
Gold/Silver       $4,000
Crypto              $31,000
Cash                 $5,000
House              $15,000
Whole Life       $16,000

Total                $363,000

Diving into each with a little detail, I can tell you savings is exactly what it sounds like….bank savings accounts earning very little interest. I do bank online however, so probably slightly more than your typical neighborhood savings account. Etrade is a combination of investment and IRA accounts split between ETF’s and single stocks. The 401k is self explanatory and invested in mutual funds, while collectibles is a more interesting story. I have been a collector of sports cards for several years and amassed a small collection of what has turned into pretty valuable cards. I’m not loving being that heavily invested in this category, but there is some logic on why I’m not selling yet which I will get into in a future post. Gold and silver are coins purchased as a hedge against the markets and inflation. Crypto currencies hopefully many of you have heard of, I got into them after the boom and they have been pretty steady so far. Cash and home equity are both pretty straight forward. The final entry is a new one for me, which is whole life insurance with a cash value component. I’ve become quite a fan recently and this again will be a whole future post to explain. Now you know the starting point for the journey we are undertaking. Soon I will share a lot of the logic and plans. Look forward to sharing more and hearing your feedback along the way!

 

Gen Xer

Author: Gen Xer

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