October 2020 Net Worth Update

Net Worth

Starting the month of October with a Net Worth of negative $33,796. That is slightly lower than last month and is mostly the result of a decline in investment value.

 

Net Worth = Assets minus Liabilities

Assets

Amount

Change from Last Month

Checking/Savings

$36,965

-$978

Retirement Accounts

109,988

-2,022

Taxable Investments

15,029

-602

Misc. (Gold/Silver/Cash/Collectibles)

8,500

+3,500

Total Assets

170,482

-111

 

Liabilities

Amount

Change from Last Month

Credit Cards

$6,255

$633

Student Loans

197,996

-160

Total Liabilities

204,251

+473

 

Net Worth = -$33,769

Change in Net Worth from last month: -$575

Total Change in Net Worth Since July 2020: +$14,459

 

The month of September saw some steep declines in the price of gold and silver, two significant holdings in my investment accounts that led to the decline in value. The decline of about $2,000 in the retirement accounts also includes the $3,500 my employer and I contributed during the month so it was more like a $5,500 drop in value. When precious metals prices fell, I decided to dig out my coins and re-value them and update that asset category. The increase in the Misc. category includes the updated gold and silver price, which was actually much higher than when I last valued them, and the value of numerous gift cards I purchased to take advantage of some online savings arbitrage with my Discover Card in September that I will write about in my September Budget Review.