November 2021 Net Worth Update

It’s been a while since I posted here, in fact my last post was the October Net Worth Update. My posting has slowed down here because it has picked up in other places. I had mentioned in my Exploring Cryptocurrency post that I had been dipping my toes into the Hive blockchain. Well, it turns out that things there have taken off. In fact, I recently posted a monthly income update on the Hive blogging platform and reported blogging earnings of nearly $600 in October. Add in the earnings from various Hive tokens and October saw my Hive earnings exceed $1,600 and that’s before taking into account any price increases of the underlying cryptocurrencies.

 I think I may be re-envisioning The Money Sloth to take advantage of this newfound success on another blogging platform. It is reminiscent of a post on Twitter I saw the other day from @DineroPodcast:

The fact is, who knows when a stroke of luck will hit and make a certain project succeed and why other projects that we pour our blood, sweat, and tears into never take off. It seems that for me, right now the Hive blockchain is sending me all those signals that it is where things are at right now. What I would like to work on doing is creating a bridge from this blog to show people how to earn in various ways and to continue my plan of documenting my journey to Financial Independence and (hopefully) Early Retirement here on The Money Sloth dot com.


Net Worth = Assets minus Liabilities



Assets Amount Change from Last Month
Checking/Savings $56,301  
Retirement Accounts 159,636  
Taxable Investments 13,712  
Misc. (Gold/Silver/Cash/Collectibles) 11,800  
Total Assets 241,449 +13,968


Liabilities Amount Change from Last Month
Credit Cards $3,784  
Student Loans 191,861  
Total Liabilities 195,645 +726


Net Worth = $45,804

Change in Net Worth from last month: +$13,242

Total Change in Net Worth Since July 2020: +$94,032


The increase in assets is again mostly attributable to my cryptocurrency activities. The increase in Misc. includes a purchase of Splinterlands cards (Non-Fungible Tokens) that I am also earning a steady stream of rental income from. Currently, this rental income is in excess of 10% per month and the value of the underlying assets has also increased since the purchase. There has also been a healthy increase in my Retirement Account balances that can be attributed to both contributions and capital appreciation. I have increased my 401k-type contributions to be able to max out my pre-tax retirement contributions for 2021.

The slight increase in Liabilities is due to taking advantage of a 0% APR offer on one of my existing credit cards. I rarely receive these type of offers, but they were willing to give me 0% APR for 12 months on any new purchases on this credit card… no extra fees, no balance transfer requirement. It seemed too good to be true, but sure enough they are lending me money at 0%.

Taking both the increase in assets and liabilities into account, my net worth increased by $13,242 over the month of October. Since starting The Money Sloth in July 2020, the increase in net worth is $94,032. It’s surreal to be only $6,000 away from the six-figure mark. I don’t think I would have imagined that I’d be up $100,000 in a span of 1.5 years, which works out to an average of $5,555 per month.


Back to (Grad) School

I mentioned last month that my budget may be changing in 2022 in order to pay for grad school. However, I inquired with my employer about contributing toward my courses since they are directly related to my work. They reviewed my request and decided to pay for all of my graduate classes except for one. This is a very welcome development and helps to make up for the relatively lower cash compensation that I receive by working in a non-profit sector.

Another reason to go back to school is to broaden my skills and add a credential that I can use to be more competitive in the job market. This degree will be focused on several coding languages that are in high-demand in the tech sector. Right now, new tech employees are setting records for starting pay rates and seeing the benefits of a strong labor market and an extreme shortage of tech talent. While I am unsure if I would make the move to another sector, as I do like my current job, it is nice to have the option and right now I simply don’t have the credentials to make the move even if I wanted to. Having the ability to change jobs quickly and easily is like the career-version of FIRE.