|Another good year, praise be to God. We spent a lot of cash continuing to finish the major house rebuild. I generally increase the home value by the amount we spend each month. I know spending doesn't equal a 1:1 return on value usually but since I do most of the work that is more true for us.
We added a lot to our retirement this year and plan to do so even more in 2016. We surpassed our retirement goal of $350k. Stocks didn't really do much, down to just one speculative holding outside of retirement funds right now. One I've held for about 5 years.
Probably our biggest financial move was doing a cash out refi (we had paid $300K cash for our renovation so we recouped some of that) and using the money to pay cash for an investment property. Our mortgage balance on a fixed 15 year at 3% is still less than 50% of our homes value. The rental property is bringing in money each month and give us a place to play with the kids since it's on 2 acres. Plus we were able to bless a family we are friends with by giving them below market rent and a great property to enjoy.
We also had baby #3 this year which is always expensive but worth it :)
Overall it was a good year. As you can see below we met just about all our financial/life goals for the year. I'll be setting the 2016 goals soon.
"Bonds" = Business Account
"Other Assets" = Angel investments
Here were our goals:
1) Resume tithing at least 10% of gross income ***Goal met finally in the last month - it's a start***
2) Achieve networth of $1.2MM or greater ***GOAL MET!/December***
3) Cash position of at least 75K ***GOAL MET/June***
4) Retirement savings of at least $350K ***GOAL MET/October***
5) Liquid N.W of at least $350K ***GOAL MET/June***
6) Home value of $1,000,000 ***In real life the goal was met but I'm conservative on paper***
7) SPEND MORE TIME WITH WIFE AND KIDS THIS YEAR!!! ***GOAL MET/May***|