Wednesday, August 7, 2013

Net Worth Update

My Personal finances have been on auto pilot for the last year.  Because of the rentals and all the spreadsheets & tracking I do for the income and expenses, I’ve totally neglected my own personal finances.  Actually the last week, I maxed out my credit card.  It was embarrassing when the company installing new furnace at one of the rentals called to say that my credit card bounced.   It’s time to get back on track.  First thing I did was to start tracking my net worth again.  This also makes me inventory all my investments, look at where all my money is, and see where the growth is coming from.  The goal is to do this once every 6 months.  It’s been too long (my last network update was $100K on May 2008)

Aug, 2013 Net worth – $287,476.7

Is this good?  I used the link that Krystal shared on her blog to see how I compare.

CNN Money says:

For my age, my net worth is much higher than the Median net worth for my age group ($8,525)
For my income, my net worth is close to but lower than the median net worth for my income range ($301,475)

Not bad, but room for improvement.