SEPTEMBER 2024 NET WORTH & FINANCIAL GOALS UPDATE

In this video, I share our real number net worth as of September 30, 2024. When we started this journey back in 2020, we had over $120,000 in student loans. Over the last two years, we have more than doubled our net worth by decreasing our liabilities and increasing our assets. I talk about how to calculate your net worth and how our net worth has changed over the last year. I also discuss our current financial goals and our progress towards our 2024 financial goals which include maxing out two Roth IRA's for 2024, saving for a basement remodel, saving additional money towards our emergency fund and saving for our kids college funds.

Knowing your net worth is a critical part of your financial picture. Many confuse income with net worth; however, they are very different. Your net worth is a calculation of your assets minus your liabilities. Assets can include cash in a savings account, 401(k), jewelry, or real estate investments. Liabilities can include any outstanding debts you might have, like student loans, credit card debt, or a mortgage.

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PLEASE NOTE: I am not a finance professional and just want to share my journey openly and honestly. This is only my experience and not intended to give financial or legal advice.

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See you in my next video! XO, Amy

[barbaralynnbudgets]

I personally love to see your net worth growing. Gives me hope! 😊

[summerjoy]

Excellent! Just turned 45 and we just started 3 529s last year 😞 Its not much but I was determined to move the needle! We aren’t eligible to contribute to Roth IRAs, so we do Roth 401ks. I hope they have the same benefits 🤔

[rosamondhazell]

I’m retired and always love to see your videos. Your older self will be pleased at how you managed your money!!

[sabinaebay]

These are my favourite videos 🎉 thanks for taking us along on your journey ! Rooting for you and your family ❤️

[williamwarren]

Good to hear from you Amy ! Yes the election is going to be interesting ( just a side note our financial person warned us doom and gloom with DT president and it did NOT happen ) Glenda

[kimtapp]

We actually had my "house worth estimate" put to the test last month when we had to sell suddenly due to moving for husband's new job! It actually did sell for a good bit more than I had been estimating as its worth 🙌. That led to a huge bump in net worth for the month. We had just one month this year (April) where net worth went down.

Our goals for the next little bit are mostly stabilizing the budget and our life. We had so many new and variable costs with moving - to another state and very HCOL area 👎. Not wanting to buy a house here, so we may rent for a couple years until we can hopefully move back closer to family and lower COL. Not ideal, but just dealing with life's curveballs!