Click here to see my current net worth. Overall, an increase in net worth of $20,585 since my last update early July.
The major drivers of the increase were:
- Small investment gains in the market
- Cash balance increase due to spending far below our income
- Debt continuing to trend downward
The market didn’t do that well for most of the month but it did recover all of the losses during the last few days of July. It eventually ended up slightly higher from the beginning of the month. Additionally, I’m not sure if I’ve mentioned it in the past, but my goal for my end of 2012 net worth is around $1.3 million. I’m not sure I will be able to hit it unless the market does extremely well over the next 5 months.
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{ 9 comments… read them below or add one }
Congrats on the increase. That is great!
Michelle recently posted..How My Part Time Job Became My Passion
Always good to see an increase. A big part of my increases is also from the fact that I spend less than I earn and save or invest the rest. It is a great strategy!
Lance@MoneyLife&More recently posted..August 2012 Monthly Goal Update
I think you mean “spending far below our income”…
Corrected…thank you!!
I’m new to your blog, But I just subscribed to it. Congrats on your increase! Looking forward to keeping up with your posts.
Ornella @ Moneylicious recently posted..Uninvited to a Wedding After Plane Ticket & Hotel was paid. Should She Still Go?
Thanks for subscribing, Ornella! I’ve done the same with your blog after reading it! I’ve also checked out some videos featuring yourself on YouTube…good stuff!
$6 Million Gets You Into 1% at 40, but Not at 60 – Yahoo! Finance
http://finance.yahoo.com/news/6-million-gets-1-40-154917921.html
“The price of being a One Percenter might seem like a simple number. For income, it’s around $380,000 a year. For wealth, it’s a total net worth of
- $8.4 million.
There are also big differences in wealth cut-offs depending on age.
- For people in their 40s, it takes a total net worth of $5.8 million to get into the one percent.
- For people in their 50s, it takes nearly $10 million. For people in their 60s, it takes around $11.6 million.
So I guess I’m wondering how are you guys faring regarding the changed criteria. In the About section you defined your income according to the 2009 Income levels for 1% = solid rock bottom of the recession
Now that the market has recovered and the 1% is $380,000 with a net worth around $6,000,000…where does this put the writers of the http://www.iam1percent.com?
Should it be http://www.iam3percent.com?
Just wondering.
Show me data of the net worth of someone in their 30′s as a one percenter and I can answer your question.
Either way, I defined my 1 percent as the top 1 percent of income, not net worth. As you outlined above, that is the very reason I didn’t use net worth. The data doesn’t always exist and is subject to age.