January Financial Update

There are a lot of updates to share over the next few weeks to fully explain how our net worth changed so drastically in two years. For the time being, here’s a snapshot of this month’s status.

*The original post had IRA at $313,630, but that was double counting an investment account between ‘IRA’ and ‘taxable’ categories. The image above was updated as part of the February financial update to reflect the accurate January IRA total.

As a quick summary from where we left off, Mrs. ODA’s 401k loan and that 0% interest credit card were paid off. However, we have a new 0% credit card that now has a $5,000 balance that will be paid off in the next month. One of the investment properties was refinanced, which included a cash out option, increasing the mortgage balance. We purchased two new properties in September 2019.

These updates will occur around the 15th of every month. The investment properties’ mortgages are paid on the 10th of each month, so the majority of changes in our finances occur at this time. Future updates will include spending categories as well.

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