• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Media
  • Disclaimer
  • Contact

My Money Wizard

Demystifying the Magic of Financial Freedom

  • Home
  • About
  • Net Worth
  • Blog Archives
    • Best of MyMoneyWizard
  • Recommended
    • Personal Capital vs. Mint
    • Credit Sesame vs. Credit Karma
    • Get Paid to Shop Online
    • Vanguard vs. Charles Schwab
    • Vanguard vs. Fidelity
    • Vanguard vs. Betterment
  • Contact

Net Worth Update: August 2021 (The Money Wizard Gets Married!)

September 17, 2021 By The Money Wizard 22 Comments

  • 1share
  • Facebook0
  • Twitter0
  • Pinterest0
  • LinkedIn1

net worth update - august 2021

disclosure 4

Hey all!

Long time no see.

I’ll apologize upfront for my MIA-ness.

All of the sudden, we were already halfway through September, and I still hadn’t published the August net worth update!

I believe this officially makes me the most behind I’ve ever been on the blog. But I have a good excuse for this one, I promise!

Before we get started, I’ve got to introduce the new readers to the whole idea of these net worth updates. Every month, I track and share my progress towards my goal of financial freedom. I am aiming for about $1 million in liquid assets, which is a number I think will allow me to walk away from mandatory work forever.

I hope that by sharing these numbers, I might inspire others. (Or at the very least, provide a cheap source of entertainment.)

I’m currently 31 and counting T-minus 4 years until I pull the plug, so let’s look at the latest progress! 

Life Update: August 2021

Well, this is a big one…

Lady Money Wizard and I got married!

After a 7-year relationship and a two year engagement, (thanks, COVID) the two of us finally tied the knot!

I’ll have all sorts of juicy details about the wedding in a dedicated article, especially since I owe everyone an update about whether we stuck to our absurdly low wedding budget of just $2,750. (You’ll get a teaser in the spending report at the bottom of this update, but spoiler alert: we blew the budget!)

For now, I can just say August was a wild blur of getting everything ready for the big day. Of course, it doesn’t help that I’m a procrastinator by nature, so our “wedding planning” included me almost forgetting to buy a ring and the two of us definitely forgetting to bring the very important marriage license to the courthouse.

Maybe I’m naive, but I was also surprised just how much work goes into throwing even a modestly-sized party. And I don’t even know what I’m complaining about… our total guest list was well below 50 people.

(Respect to anyone who hosts one of these 100-300 person mega-weddings. You people are bosses. Or psychopaths. I’m still not sure which.)

No worries though… the whole thing was a blast, and I’m definitely excited to start this new phase of life.

Stay tuned for some updates about all the wedding details, plus grown up stuff like combining bank accounts and a re-evaluation of where we stand on those early retirement goals, now that there’s officially two people on Team Money Wizard.

Net Worth Update: August 2021

Personal Capital Dashboard - August 2021
Screenshot of my Personal Capital dashboard.

Of course, this is more like “Net Worth Update: August and half of September 2021” but that’s what happens when this website’s only employee spends the first half of the month completely unplugged on a Hawaiian beach.

detailed net worth august 2021

 

Lots of changes that I’ll explain below, although most of the really crazy movement seems to be a product of this being an update for the past 1.5 months, instead of our usual 30 day window.

portfolio allocation august 2021

 

Checking: $15,217 (+$9,334)

A massive increase for a few different reasons.

  1. This is 1.5 months of gain, so there’s an extra paycheck or two in there.
  2. I have a massive credit card bill that hasn’t come due yet, so the cash balance should fall hard next month.
  3. Despite our most sincere “no gifts” policy at the wedding, we did get a couple wedding gifts. Those old grandparents can be persistent!

Brokerage: $253,375 (+$5,662)

$1,000 of contributions this month, and the rest is market gains. I did set up those automatic Vanguard contributions into VTSAX, and I’ve gotta say it’s pretty awesome to have your money automatically invested for you while you’re busy getting married, or whatever else life calls for.

For more info, read my article Create a Wealth Building Machine by Automating Your Finances

You can also read previous net worth updates to see a more detailed breakdown of my brokerage account, but it’s mostly just boring old index funds, plus some silly investments from when I was a teenager.

401(k): $261,091 (+$7,405)

I max out my 401k to the full IRS-allowed $19,500 each year. So, given the timing of this update, I think there were actually three (or possibly four) paychecks worth of contributions here.

Those contributions are still broken down as:

  • 50% S&P 500 Index Fund
  • 30% Small Cap Stocks Index Fund
  • 20% International Stocks Index Fund

Roth IRA: $63,436 (+$749)

Just market movement here, since I maxed this one out in January. The portfolio still includes:

  • Vanguard’s REIT Index (VGSLX) – about 75%
  • Vanguard’s International index (VTIAX) – about 25%

I talk about why I like VTIAX more than VFWAX here.

Credit Cards Payable: $7,794 (+$6,183)

The big one!

Loooots of wedding spending (and honeymoon spending, but we’ll get to that in the September update) included here.

It is especially worth repeating in a month where the credit card balance is unusually large: I never pay credit card interest, and you shouldn’t either.

I’ll include a total breakdown of the cost of the wedding in another article, but for now here’s a glimpse at August’s overall spending:

Total August Spending: $7,820

spending report august 2021

ouch gif

A new record!

Is it even worth discussing any category except for the “Other” category?

In August, that “other” category translated to the “Wedding” category. That said, it’s too much to cover here, so stay tuned for a whole post about this.

Otherwise, I did go a little crazy in the clothes category. Here’s what happened…

In preparation for the wedding, I tried on my trusty business suit, which for the past decade has been my wingman through college interviews, formal work meetings, and the rare suit-worthy event. After taking one look in the mirror, I just had to laugh at how much it didn’t fit. 

No worries, I thought, I’ll just bring it to the tailor….

And that’s what I did, except the tailor took one look at me, looking me up and down on a single pass, and simply said, “You need a new suit.”

As it turns out, the healthier lifestyle of COVID work-from-home has changed my body type a bit, and my suit was beyond salvaging.

In other words, that tailor slapped me in the face with the epiphany that I might actually need a new wardrobe.

To the mall I went, and $500 later I’m a little better set up for looking presentable. Although I do still need that new suit…

How was your August (and half of September)?

Apologies for the update being so late this month. We’ll have lots of fun new content coming out soon!

PS – If you’re serious about tracking your net worth, here’s my favorite tool to do so.


Related reading:

  • This vintage 1970s LIFE magazine shares tips to beat inflation. Here’s a fascinating peek inside.
  • Liquid Net Worth: How to Calculate Your Runway to Financial Freedom
  • Is the stock market broken? Why it keeps rising, and how you can protect yourself.
  • 1share
  • Facebook0
  • Twitter0
  • Pinterest0
  • LinkedIn1

Filed Under: Net Worth

Reader Interactions

Comments

  1. Frugal Jon says

    September 17, 2021 at 9:06 am

    Congrats Money Wizard! My wife and I got married at a smaller ceremony last summer during the June Covid lull but had our reception over Labor Day weekend! It was a little bigger than your party (I think we had 120) and that felt huge. I can’t imagine how the 300 guest megaweddings feel.

    Quick question: I noticed that you have your Roth IRA primarily invested in a REIT fund. What’s the benefit of this fund over a stock index fund? I’m assuming part of it is diversification without having to purchase a rental property, but does it also provide really good dividends and decent growth?

    Reply
    • The Money Wizard says

      September 17, 2021 at 3:00 pm

      Congrats to you, too!

      I am finishing up a post now about why I like VGSLX in my Roth. The short answer is diversification, the long answer has to do with tax efficiency.

      Reply
  2. Mark says

    September 17, 2021 at 9:37 am

    Thanks for the update and congrats!!

    Question – when you say “ T-minus 4 years until I plug the plug” what do you mean by that?

    Early retirement, hobby work, or some other option?

    Reply
    • The Money Wizard says

      September 18, 2021 at 5:18 pm

      Thanks! And yeah, retiring from corporate America and instead going for paid hobbies, knowing that you could stop them at any time and still be fine. This article talks about that strategy:

      https://mymoneywizard.com/retire-age-35-4-million-net-worth/

      Reply
  3. Amanda says

    September 17, 2021 at 10:22 am

    Congratulations on your marriage!

    Reply
    • The Money Wizard says

      September 18, 2021 at 5:18 pm

      Thanks, Amanda!

      Reply
  4. Juan Antonio says

    September 17, 2021 at 11:38 am

    Congrats my frined!!!!

    We also are getting marryed on december, same as you liettle party of 40 persons, but big expenses in outfit (my future wife wanted something special),but in general we are in budget.

    Abrazos desde México!!!!

    Reply
    • The Money Wizard says

      September 18, 2021 at 5:18 pm

      Congrats to you, too!

      Reply
  5. Hustle Hawk says

    September 17, 2021 at 12:23 pm

    Congrats to Mr (and Mrs) MW on tying the knot!

    $500 shopping spree! You’ve changed (*this is a joke in case my humour isn’t coming across in the keyboard!*). I guess you did try to get by with the existing threads but tailor said “no”.

    BTW when you write “As it turns out, the healthier lifestyle of COVID work-from-home has changed my body type a bit, and my suit was beyond salvaging” is this saying you were able to use wfh to get healthier? If so, that’s awesome, congrats!

    Looking forward to hearing how you managed to bring the wedding in for under 5 figures, very impressive.

    HH

    Reply
    • The Money Wizard says

      September 18, 2021 at 5:20 pm

      Thanks!

      Yeah I’ve built a mid-afternoon workout into my daily routine, which seems to be working out well.

      Reply
  6. Financial Samurai says

    September 17, 2021 at 1:42 pm

    Congrats on the marriage! And great job keep the cost so low.

    Do you think you will be adding Mrs. MW’s new worth to the overall or no?

    I haven’t been keeping most of my wife’s investments tracked to keep me more motivated and make things harder to get to our net worth goal.

    Sam

    Reply
    • The Money Wizard says

      September 18, 2021 at 5:21 pm

      Thanks, Sam!

      I was planning on combining our net worth, but I also like your approach. We shall see!

      Reply
  7. FI for the People says

    September 17, 2021 at 3:27 pm

    Congrats to you.

    Also, as a side note, IMHO, event planners (and (wholly unrelated) CNAs) ought to be among the highest paid professions. It’s a difficult and, sadly, often thankless job that comes with no shortage of grief and way-too-high-maintenance clients.

    Reply
    • The Money Wizard says

      September 18, 2021 at 5:22 pm

      I could definitely see that!

      Reply
  8. Mike Pouch says

    September 17, 2021 at 8:34 pm

    Congratulations!!! Looking forward to all the future posts you have hinted at!!

    Reply
    • The Money Wizard says

      September 18, 2021 at 5:22 pm

      Thanks, Mike! Should be some fun posts coming up!

      Reply
  9. MMM says

    September 18, 2021 at 1:22 pm

    Congrats !! By the way, you need to change your profile description to “I’m the Money Wizard, a “30-something” who….” 🙂

    Reply
    • The Money Wizard says

      September 18, 2021 at 5:22 pm

      Good catch! And thanks!

      Reply
  10. Mr. Tako says

    September 20, 2021 at 5:49 am

    Congrats on getting married Money Wizard! Will you two be combining your finances together, or shall we continue to expect the numbers as a completely solo affair?

    Just curious! Congrats again! That’s a big life milestone!

    Reply
  11. Matt says

    September 23, 2021 at 11:23 am

    Curious where things like water, electric, cable, internet, etc. fall into your budget? Wasn’t sure if those expenses were already baked into the rent figure.

    As always, really appreciate everything you do! Congrats again on getting married and thanks for your help!

    Reply
    • The Money Wizard says

      September 26, 2021 at 8:26 pm

      Yep, those are included in the rent payment.

      Reply
  12. Tracy says

    September 27, 2021 at 9:03 am

    Congratulations. That is so exciting. 🎉🥂

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Welcome

I'm the Money Wizard, a 20-something who started this blog after I saved $100,000 by age 25. Now, I'm sharing everything on my journey towards early retirement in my 30s.
Become a Money Wizard...

Latest Net Worth

I track my net worth and spending every month, and I share all the details (even when they're not pretty) here:

Current Net Worth: $588,800

Free Net Worth Tracker

Check out the legit tool I use to track my net worth and spending for free:

otherother

Popular Posts

Money Muggle to Money Wizard in One Page (The Best of MyMoneyWizard.com)
The 3 Step System to Stop Wasting Money
18 Income Producing Assets to Generate Serious Passive Income
What I Learned Living in a Million Dollar Home
How to Earn $101,200 per year and pay ZERO taxes.
The Easy 401k Strategy to Kill Your Tax Bill and Retire a Multi-Millionaire

Money Wizard Reviews

Personal Capital vs. Mint
Credit Sesame vs. Credit Karma
Ebates and Mr. Rebates
Vanguard vs. Fidelity
Vanguard vs. Schwab
Vanguard vs. Betterment

FREE UPDATES

Categories

  • Book Reviews
  • Cars
  • Celebrity Net Worth
  • Debt
  • Early Retirement
  • Featured
  • Financial Freedom
  • Go Figure
  • Investing
  • Link-O-Rama
  • Millennials
  • Money
  • Money Hacks
  • Net Worth
  • Random Thoughts
  • Reader Mailbag
  • Real Estate
  • Reviews
  • Saving Money
  • Side Hustles
  • Student Loans
  • The Money Wizard
  • The Wizard Cauldron
  • Travel
  • Uncategorized
  • Working

Footer

My Money Wizard is an opinion based website. I am not a financial advisor, and the opinions on this site should not be considered financial advice.

I also recommend products that I think are awesome, and some of those products may sponsor links on this site. If you use those links, I may be compensated at no cost to you. I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and links to Amazon.com.

Privacy Policy

© 2018 My Money Wizard, LLC