Ok – as noted in the Introduction , this blog is a personal finance blog, which means I need to be open and up-front with you all about my own personal finances. I will share here on a monthly basis my progress and a snapshot of my net worth.
I have tracked my net worth using an excel schedule since Day 1 of my professional career – back in 2010. Have not missed a month since. I love being able to track my progress, my changes in spending, income, and net worth over the months and years, and calling back to the days when I would be excited over what is now considered a ‘small’ increase in an account or investment balance. It has to be my Number 1 Recommendation for any Young Professional interested in building their financial future. It holds you accountable and forces you to recon with your actions on a monthly basis. It is amazing how quickly time flies by, and how the numbers – with dedicated focus – begin to quickly trend in your direction.
So, here’s where I stand as of May 2018.
Current Salary: $120,000
- Cash Savings: $11,941
- 401k: $124,071
- Roth IRA: $69,642
- Brokerage: $72,068
- Real Estate (Home and Investment Property): $590,000
- Note: while both properties have increased in value ‘on paper’, I only include the amount I ‘paid’ for the properties here.
Total Assets: $867,722
- Mortgages on both properties: $550,581
- NO credit card or other debt (monthly auto lease included in my monthly expenses)
Total Liabilities: $550,581
NET WORTH: $317,441
YTD Increase: 5.66%
My very first net worth calculation in 2010: approximately $28,000.