August 2012 Net Worth Update

//August 2012 Net Worth Update

August 2012 Net Worth Update

I started calculating, recording and sharing some information about my net worth in January of 2011.  Since I am not comfortable sharing whole numbers I provide growth information.

I am well aware of the shortcomings of the calculation method, but have promised that if I grow to 400% from that Jan 2011 number I would share it with everyone.

Calculating my Net Worth

The assets I include are:

  • My Cash Savings Accounts – This has been my main focus for way too long as we will need all the cash we can get when we finally move.  I am excited to think of the possibilities when this isn’t our main focus.
  • My 401(k) – I plan on evaluating the holdings and options this month.
  • Random Non-Qualified Investment Accounts
  • The Wife’s Roth IRA
  • My Dividend Investment Portfolio – Easily my favorite part of my financial empire hut
  • Home Value – I have kept it constant since the beginning of this experiment.
  • My Traditional IRA – Which I started actively trading a few months back using a Covered Call Strategy and even created a page to track all my gains (and loses)

The liabilities I include are:

While I am lucky to only have 2 main liabilities, they are very significant in terms of whole numbers.

  • Law School Loans
  • Mortgage

What normal Liabilities are missing?

Someone asked me last month why I have included this section for so long. After thinking about it for a bit I realized the reason was that I am proud that I have accomplished getting rid of these hurdles in my journey.

  • Car loan  – My car is paid off and I don’t consider it an asset and The Wife leases her car.
  • Credit Card debt – Don’t  have any except a revolving AMEX account so no reason to put it up
  • Checking Accounts – Always changing and moving and since I keep myself cash poor there isn’t a reason to track the account

My Net Worth Growth

  • From July 2012 my net worth increased 2.71%
  • Year to Date my net worth has increased 30.22%
  • From January 2011 to July 2012 my net worth has increased 124.98%

How was your financial month?

By | 2013-09-26T14:55:10+00:00 August 1st, 2012|Personal Situation|19 Comments

About the Author:

Evan is the owner of My Journey to Millions which was started to track his journey from a broke debt ridden law school graduate to building a positive balance. Need more Evan? Follow him on Twitter, Contact him or get new posts directly to your email

19 Comments

  1. Joe August 1, 2012 at 10:48 am - Reply

    30% in 2012 is pretty awesome. Our net worth probably increased about 5-10% this year. Now that I’m not working anymore my goal is just to keep it from decreasing.

    • Evan August 1, 2012 at 3:49 pm - Reply

      You may not be working in the traditional sense of the word, but watching and caring for a child all day is 100% work!

  2. DebtsnTaxes August 1, 2012 at 1:30 pm - Reply

    Man if you can keep the 30% average increase you have so far year to year you are going to be one rich fella. Of course that will be harder to maintain as time goes on and your net worth increases but it would be sweet. Good job on the increase!

    • Evan August 1, 2012 at 3:52 pm - Reply

      Maintaining the growth has been harder and harder. Luckily the market helped me out the past 2 months. I actually recorded my first negative month in May. I was pretty pissed to say the least since my savings/investment schedule stayed the same so it was just swallowed up by the markets.

  3. Kathleen August 1, 2012 at 1:49 pm - Reply

    That’s great — that’s something I need to start tracking, because I don’t have any idea even when it went from negative to positive!

    • Evan August 1, 2012 at 3:53 pm - Reply

      I resisted tracking for a long time. Probably about a year between my last debt repayment post and my first net worth post and it has served me well for motivation.

      If you aren’t comfortable sharing numbers let me know and I’ll be happy to hook you up with the spreadsheet I created so you can share growth.

  4. 20's Finances August 1, 2012 at 3:20 pm - Reply

    2.7%? What happened? haha. Just kidding. Nice work on the +30% for the year. I can’t wait until you get to 400% and say that your networth is $4,000. 😉 I know it’s more than that…

    • Evan August 1, 2012 at 3:54 pm - Reply

      HAHAHAH we have a long long way to 400%!

      As far as the 2.7% it is getting annoying now because my savings/investing/debt repayment affects it less and less and just market swings more and more.

  5. DC August 1, 2012 at 6:07 pm - Reply

    This was actually the very first month we tracked every dollar we spent. From here on we will be adjusting our budget accordingly (and continuing to track every dollar) and hopefully will start tracking our net worth very soon!

    • Evan August 2, 2012 at 2:06 pm - Reply

      Good Luck! How did laying out what you spent make you 2 feel? Any surprising categories?

  6. Lance August 1, 2012 at 7:54 pm - Reply

    Congrats on the increases! I too have been seeing decent increases but that is because my net worth isn’t that significant yet. Once I get to the 6 figure net worth then it will begin slowing down I figure.

    • Evan August 2, 2012 at 2:07 pm - Reply

      Your gut is correct – very hard (and thus disappointing) when the gains are smaller and smaller each month

  7. Matt August 5, 2012 at 10:57 am - Reply

    More than doubling your net worth in a year and half is impressive.

    I don’t consider my car to be an asset either, although it’s worth something.

    • Evan August 7, 2012 at 2:34 pm - Reply

      I just felt like I never would proactively sell it so why include it?

  8. SB August 5, 2012 at 12:43 pm - Reply

    Very impressive year to date growth. Now I have a question whats the percentage of extra income in your overall take home income?

    • Evan August 7, 2012 at 2:35 pm - Reply

      Hmmm going on last year’s ROUGH numbers, I would say I make a little less than half of my gross salary between this blog and the 8 other or so sites I co-own. As far as this year, I have no idea since I haven’t received 1099s and figured out expenses (Although I have to file soon for the C-Corp).

  9. Jenna August 5, 2012 at 6:06 pm - Reply

    I’m finally breaking even this month with my mortgage (yeah roommates!) Totally excited to be increasing my net worth.

    • Evan August 7, 2012 at 2:38 pm - Reply

      That is so cool! So you are living housing expense free?

      • Jenna August 7, 2012 at 2:51 pm - Reply

        Not entirely. I’m pay utilities, which isn’t so bad.

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