Net Worth Update #1

pexels-photo-259027.jpegOk – 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

Assets:

  • 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

Liabilities:

  • 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.

 

 

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