February is another great month for us. Our net worth jumped by $48,357 over the previous month, the biggest month-to-month increase since we started tracking in 2005.
The stock market has performed very well so far this year. I continue to maintain 70% in stocks and 30% in bonds for our investment portfolio. All of our investment money are in low-cost passive index funds.
I also conservatively adjusted the values of our second house and our two cars to keep them close to real market values.
By the way I prepaid four-year university tuition for our daughter, who is in second grade. I have been saving up cash throughout last year in order to pay a lump-sum payment to the 4-Year Florida University Plan. The total cost is $29,025.
Florida Prepaid Tuition is best for parents who are pretty confident that their kids will end up at State University. With the the College Cost Reduction and Access Act of 2007, prepaid tuition plans are treated as qualified education similar to 529 college saving plans. So prepaid tuition plans don’t reduce aid eligibility dollar for dollar.
By prepaid my daughter’s college tuition, I get a peace of mind that if something happens to me, my daughter will have her college covered. If my kids enroll elsewhere, I’ll still get the money back with about what I would have spent on in-state tuition. So it’s a win-win situation.
Next year I plan to do the same thing for my son and then we should be done with building college funds for our two kids. Once I’m done with funding our retirement, I’ll put some extra into 529 college saving plan as a cushion.
I have been using Personal Capital to see all my accounts together. Personal Capital updates all my bank accounts, investment accounts and credit cards. It also helps me to quickly update my Net Worth spreadsheet.
Personal Capital already projects my Net Worth to surpass $1 million in February 2017. On my own spreadsheet, I still underestimate several assets. For instance, Personal Capital estimates the value for one of my house, using Zillow, way higher than the one I used in my spreadsheet. Anyway, I plan to transition to Personal Capital in the months ahead.