December 2021 Net Worth Update

This is going to be a quick net worth update post. I plan to have a more thorough end-of-year summary post in a couple weeks.

Net Worth = Assets minus Liabilities



Assets Amount Change from Last Month
Checking/Savings $57,733  
Retirement Accounts 160,619  
Taxable Investments 21,453  
Misc. (Gold/Silver/Cash/Collectibles) 14,500  
Total Assets 254,304 +12,855


Liabilities Amount Change from Last Month
Credit Cards $7,766  
Student Loans 191,766  
Total Liabilities 199,532 +3,887


Net Worth = $54,772

Change in Net Worth from last month: +$8,968

Total Change in Net Worth Since July 2020: +$103,000


I’ve hit a new milestone with this update, crossing the $100,000 net worth increase mark. Another great milestone is reaching a quarter million dollars in assets! Having started this journey with a negative net worth of about -$48,000, I’ve come a long way in about a year and a half by adding $100,000 to that figure and bringing it solidly into positive net worth territory. Over the past 17 months, that’s an average net worth increase of just over $6,000 per month!

I’ve written before about the reason why I maintain such a large debt balance despite having assets that more than cover it at this point, that being the Public Service Loan Forgiveness program for my student loans. I have recently submitted some paperwork to have my loans consolidated and some additional payment credits applied, so I may soon be about 12-18 months closer to loan forgiveness than I was before! Once I reach the 10-year mark of working for a qualifying employer, I will see about $180,000 of debt eliminated, rocketing my net worth higher when that happens. In the meantime, I’ll continue to add to and invest my assets to grow my retirement nest egg over the next 7-8 years before making the decision to retire early.