Update: All figures as of the end of the month.
Nov 15: $250k
Dec 15: $272k
Jan 16: $276k
Feb 16: $299k
Mar 16: $324k
Apr 16: $342k
Not too shabby for 5 months. A summary of what's happened during that time and a few disclaimers:
- I received a large year-end bonus in December, hence the jump in that month.
- In February, company put a big annual retirement fund contribution into my 401k (about $11k), hence a nice jump that month.
- Savings rate in the 65-70% range since the end of November, buoyed some by those two big lump sums which we didn't spend.
- In Dec/Jan we used that bonus and release of some emergency fund to pay off a 10% piggyback mortgage from when we bought a house last June. Yes, yes. We used an 80/10/10 mortgage. We didn't have 20% down. Shame on us. HCOL, very expensive rent, and some fears about real estate taking off (even more than it had been) led us to want to take a bit extra risk. Plus, I knew there was a high chance we could pay the piggyback HELOC off in 1-2 years (it was 6 months, actually). We're happy with where we are and with the decision.
- The fears of real estate taking off weren't completely unfounded. From friends looking for a place, it's gotten even harder than when we were looking, with prices spiking. Zillow seems to agree. Approximately $30k of that increase in NW above is from an increase in Zestimate (it's a full $50k higher now than it was when we bought last June). Based on what I see comparable houses in our neighborhood going for compared to just 6 months ago, I can believe it. We sort of kicked off the buying/selling in the neighborhood. It isn't a gentrifying neighborhood, but I would call it an "old" neighborhood. Many longtime residents with houses starting to turn over, and some new reasons to make the neighborhood desirable for younger folks and families (a couple great new restaurants/bars, a new pedestrian bridge to the train station, and a big new entertainment/restaurant complex finally getting approved about 2-3 miles away). The neighborhood is awesome and way cheaper than most around it, and people are noticing. We love it here. Sorry for the tangent. For consistency, the NW number includes the increase. There's your disclaimer.
The NW increase can be broken down as: +$42k invested assets, -$19k cash (lowered emergency fund sending some to invested assets and HELOC, hence the dip here...we are where we want to be now), +$30k home value, +$40k loan payoff.
Since starting with looking into MMM last February, we're up from $140k at that time to $342k now.