Starting Net Worth: $107,525
November was a strong month for our finances and provided a much-needed rebound after the chaos of October. Without any major surprises, we were finally able to settle into our new home and focus on our financial goals, particularly our debt payoff plan. The biggest challenge we faced was adjusting to the new car loan, which increased the portion of our monthly income going toward vehicle expenses. To stay proactive, we decided to get aggressive about paying off Natasha’s car first since it carried a slightly higher interest rate, and we began making extra payments each month toward that loan.
The stock market also performed well in November, bouncing back after several months of decline. Seeing such a quick turnaround was a great reminder of why it’s so important not to make emotional or panicked decisions during market downturns. Sticking to your investment strategy by allocating properly when times are good and staying the course when times are bad continues to be one of the most effective approaches for long-term success.
To round out the month, I once again converted my entire pre-tax 401(k) into a Roth 401(k), something I do each year to intentionally pay the taxes now and allow all future growth to occur tax-free. This was great timing because of the recent market downturn, which allowed me to convert the same number of shares while paying a smaller tax bill as a result. Since I still have plenty of time before retirement, this strategy should help maximize long-term tax efficiency.
Overall, November was a positive step forward and a good reminder that consistency, discipline, and patience can make a meaningful difference in building financial stability and long-term wealth.
Ending Net Worth: $124,125
None of the above information is a recommendation. This blog is purely intended as commentary on things that have happened along our financial journey.