February 1, 2007

net worth update

Last year, I paid off the last of my student loans and went debt-free for the first time. This year, I decided to better track my net worth than in the past. Previously, I'd keep one "current" column on my spreadsheet, and while it was great in providing a snapshot of where I was at that moment, it didn't do me much good in terms of seeing my trends.

Unfortunately, I neglected to really get serious about tracking my net worth until a few days into this new year. Therefore, the best I can estimate is that my net worth at the end of 2006 was roughly $35k. Going forward, however, I'll be tracking changes in my assets (stocks, retirement, etc.) and liabilities (mostly credit card debt). Since January ended yesterday, I realized my net worth gained 19%. I won't have true apples to apples comparisons until I can look at February's end amount vs. January's, but I thought 19% is a pretty good jump!

So what's the goal I'm shooting for? Well, I'd like to someday buy a place in Manhattan. Nothing too pricey or big (so of course, you can't get something big without it being pricey), but some place I can feel comfortable in. I don't know if its realistic to shoot for that in two years' time, but we'll see.

Update: Most of the net worth gain came from savings. Not having to pay for rent does wonders for the bottom line. Of course, I'm glad that my investments did decent during the month as well, but the primary driver was increased savings.

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