Net Worth Q1 2017

We’re still celebrating having reached a net worth of $0 at the end of last year. We hit our 2016 goal it at the eleventh hour. Now Q1 brings even better news with our Net Worth reaching $30K.

Net Worth Q1 2017

Net Worth Q1 2017 Excel

We invested $248/day this quarter compared with investing $80/day for all of last year.

Our total assets peaked above $150K for the first time. That’s crazy to think about since at age 28, this may equal well over $1MM by 65.

We don’t expect investing in Q2 to triple again since that would mean investing $67,000. We’re actually expecting Q2’s number to be significantly lower.

The large bump in Q1 was driven by a rise in the US Market leading to an additional unrealized gain of ~$4K and the second was a bonus.

Our savings rate was just above 50% which is crazy considering we were stressed about money only a few years ago.

When comparing our market gain to our interest expense of $1,531, I am glad we are investing our money. We’ve accelerated our student loan payments, but only after having maxed out our tax advantaged investing accounts.

The shift to investing our money early in our lives helped us net an additional $2,652 this quarter, or ~$30 per day.

Naturally, that amount will fluctuate as the market swings up and down, so we prefer to track our savings rate, which is in our control.

Our expenses were low considering we had a 10 day vacation. We managed to tackle a trip to Hawaii for under $1,800. We’ve also been cooking new dishes and exploring other areas to save.

2016 involved 17 strategies to save over $50K, whereas 2017 is focusing on 3 to save $80K. I’ll elaborate more on future net worth reports and I’ll stay transparent on if we’re hitting our marks.

A theme in each year has remained frugality.

As I wrote before, “Frugality is not a sacrifice. Frugality is a means to gain more freedom.”

Conclusion


With a solid pace set by Q1, we’re psyched to see what the rest of the year will bring.

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9 comments… add one
  • Diligent Dividend Apr 3, 2017, 6:29 am

    I’m really loving that quote. Frugality is a means to gain more freedom. Congrats on the awesome savings rate also. You put some Serious cash to work for you.

  • Ryan @ Just Another Dollar Apr 3, 2017, 9:35 am

    You’re killing it! Awesome to see your progress, I’m looking forward to putting out our Q1 update this week. Glad to hear you’re balancing living the good life with intense savings goals, working hard, and rocking Distilled Dollar. When do you sleep?!

    • Distilled Dollar Apr 3, 2017, 11:32 am

      Thanks Ryan – we can hardly believe it ourselves.

      Sleep is another topic altogether…haha

  • Matt @ Spills Spot Apr 3, 2017, 1:59 pm

    Awesome progress Matt, keep it up!

  • Brad - MaximizeYourMoney.com Apr 3, 2017, 2:15 pm

    That’s awesome – keep up the great work!

    • Distilled Dollar Apr 3, 2017, 6:19 pm

      Thanks Brad. Momentum seems easier to maintain than build up but I’m keeping our fingers crossed!

  • Your First Million Apr 4, 2017, 3:06 pm

    Congrats! It is no easy task climbing out of the red. It seems like you guys are moving at a significant pace which is awesome. The name of the game is to just keep accumulating income generating assets! Whether that means buying assets (like stocks, bonds, real estate, etc) or building assets (like starting a business). Over time if someone continues to do this long term, there will come a point where those assets can more than take care of them.

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