Winter is here, December Net Worth 2020

Steve Cummings

Updated on:

December 2020 Net Worth update: $155,880

The end of 2020 has come, and now it is time to see how our Net Worth did in the month of December. We gained an additional +$10,050 for the month of December. In 2020, our investments have gone up 29%. It has been a good year. 

December has been a wild and crazy month. It always is. There are parties, events, Christmas, New Years, and even my birthday. The events that are happening can really wear down someone. People are out enjoying life with celebrations and mass gatherings. 

This is how December usually would look like. Most of the places around the world are still dealing with the pandemic. December can be quite the opposite, but there are still glimers of hope as we progress to have a vaccine to help us get back to the life of travel, parties with people, and being able to go to church without a mask. 

The good news is that since my wife and I live in Taiwan, we have been very fortunate to have less cases, and the opportunities to gather with many people.

Now, with Christmas being on a Friday the festivities were all compacted on a short weekend that can really tire most people out. 

We hosted a party on the 26th for those that had to work on the 25th, and it seemed like our tiny house now can have the capacity to fit close to 50 people at one time. Even though it was cooler outside, we still needed to turn the A/C on to let it cool off in the hottest rooms of the house. 

I am not trying to brag, but it was great to celebrate Christmas with so many friends.

The December Budget and Savings Rate:

Our spendings was up just a bit more for December than it was in November. It is all ok, since we still had a savings rate of 61%.

Keeping our savings rates up higher is good for investment and savings goals. We have been trying to save more than 50% of our income for this year alone and we have been averaging over 60% for the last 3-4 months. 

Here is a break down of our spendings

The Christmas Season:

It has been a lovely season to celebrate with friends and family. My family is not close to me geographically, so we were all able to facetime with my parents and in-laws during Christmas and the weekend. It is nice being able to see their faces, wish them well, and enjoy the season with loved ones. 

As I get older, I realize how much more important the time being spent with family and friends is such a luxury and how it is of great importance. As people age, loved ones pass away, and the time you spend with them now is all worth it. 

Besides Christmas, Mrs. FE and myself celebrated my birthday a few days early due to a friend’s engagement party. We were able to have dinner with friends, and enjoy time together. 

New Year’s Eve is also a part of the Christmas season. It is a great time to celebrate the end of the year, and we celebrated by going camping at a friend’s farm.

We had about 16 of us friends there to celebrate and enjoy the good outdoors. Sometimes, you have to take some time away to recharge, enjoy life, and relax. 

It is time to break down that Net Worth:

Net Worth Breakdown

Here is the breakdown for December 2020 Net Worth:

Cash Savings: (+$3,512)

We have had another great month of cash savings. We have saved 61% of our income so being able to have enough cash to go out and buy more assets and investments to help our Net Worth grow is a good thing. Being able to work right now is a plus. We are very fortunate. 

Our goal is to invest some of our cash right now. We already have an emergency fund set up so any extra cash will be pushed towards our investments.

Taxable Brokerage Account: (+$4,154)

We have had another good month for our investments. The taxable account that we have has increased to $4,154. It is getting close to reaching that $100,000 mark. Once it does that it will just compound even faster.

The compounding effect on $100,000 will help us get to our Financial Independence number much faster.

Roth IRA: (+$161)

Since my Roth IRA does not have much money in it, it does not grow as fast as the taxable account. Positive growth is great! You just have to keep letting the compounding happen.

My Wife's Super: (+$2,258)

One of the greatest moves of our financial journey was moving my wife’s super into our control. Since switching it, we have increased the value almost every month. It is sitting in Index funds that have gone up 9.58% in 2020. December was another great month. It keeps on increasing in value.

Liabilities (-$85 )

Our liabilities have been quite low the last couple of months. We are sitting on $180 due for our credit usage in the month of December. So we are just $85 higher than we were in November. It is still low. We usually use our credit cards for travel.

Goals for 2021 Net Worth

In 2020, it was our first time tracking out Net Worth. So every month it seemed like our goals would change because our Net Worth started to skyrocket.

At the end of the year, we had determined that it would be great to hit $150,000 Net Worth. It may surprise you, but we hit $155,880 for the year of 2020. Our investments went up 29%, and so therefore our investments added an additional $17,000 over that last year. 

That will not happen every year. I am usually quite conservative on these numbers. I thought 7% would be a good year. So the new goal for 2021, would be $197,000 USD. 

We will try to put in around $30,000 USD into investments and hope for a 7% return. It would be nice to hit $200,000, but we shall see. Anything can happen in 2021.

How was your 2020?

4 thoughts on “Winter is here, December Net Worth 2020”

  1. I’ve been waiting for your update for literally the whole day haha
    Wow 29% return rate for an additional 17,000USD only from investments…
    This is an stunningly exaggerating score, but you deserve it.
    Not much happened to me in December, still accumulating cash to send them to investment…
    Can’t wait to see where can you get in 2021 🙂

    • Keep that investment machines going. Compounding interest is really working out for the investments. As long as I keep to my strategy of buying low-cost index funds or ETFs the money should continue to grow.

      Tommy, stay motivated. You can do it! I believe you are making great choices.

  2. Good growth for the month and for the overall year, congrats!

    I’m glad you were able to take some time to realize how important family time is. I too, came to this realization this season.

    Here is to another great year! Happy new year

    • Thank you,

      Family time is so important. As my wife and I are getting older we realize more and more how important family time is to us. It is a great thing for the Christmas season.

      2021 will be another great year!


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