I know I quit displaying detailed net worth statistics awhile ago since I had some friends and family come across this blog but I thought I’d share some of the progress that we are experiencing.
I’ve been tracking what I call “Point in Time” balances for a little over a year now. Up until that point I wasn’t keeping any historical data about our net worth. I would just update the current view and lose all the history. I realized that we’ve come a long way and decided it would be good to keep the history. Well, I’m glad I did. It’s really interesting to see where we were only one year ago. So, while I won’t get too detailed, I can list a few statistics.
Month over month progress: 2.4%
Year over year average progress: 39%
Summary:
Overall we’ve had a successful run over the last year or so. As the number goes up, the month over month percentages are hard to maintain. We’ve seen our stock market investments run up with the market (gotta love indexing across sectors), we’ve seen real estate appreciation, although it’s much slower now, we’ve acquired another piece of property and are moving along rapidly on construction, we’ve seen our income increase due to my wife working and salary increases, and lastly, we’ve done a pretty good job of holding down our expenses. All of this on our quest to “live for today and plan for tomorrow”. We decided that we wanted a vacation house and that’s where the second property comes in. We expect that we’ll enjoy having it once it is complete and expect to spend a fair amount of time out there. My estimate is that within 5 years, if we find we aren’t using it much, we’ll have enough equity in it (paid mostly cash for it) to sell it and pay off our primary home’s mortgage. Worst case scenario we should still see a significant profit on it due to the amount of sweat equity we are pouring into it.