Hey, it’s my first net worth update! With these kinds of posts, I’ll cover my current net worth (assets and debts). Normally, I’d do these within the first week of the month, but since I just got this site running, I’ll do an initial rundown right now.
- Taxable portfolios (includes cash in money market accounts): $53,854.49
- Tax-deferred portfolios (my IRA; includes cash in money market accounts): $42,146.46
- 401(k) (includes employer match): $8,085.30
- Hard assets/commodities: $2,618.00
- Cash and cash equivalents: $8,570.09
- Debt: – $0.00
Total Net Worth: $115,274.34
This is a 2.59% decrease from the last time I calculated my net worth, which was $118,261.74 on 09/02/2014.
My thoughts: You know, this is only the second time (since beginning to track my net worth on 07/30/2013) that I have experienced a decline in my net worth. To make things even more ‘enjoyable’, it’s over two-and-a-half times the decline of the last one! Yet I ain’t even mad. I had to cut back on the amount I’d normally invest due to paying off my credit card debts. These past two months were slightly rough; my car’s battery died last month, and this month, I drove from Wisconsin to North Carolina and back to watch my girlfriend play at a golf tournament. I loved the trip, but naturally it put a decent dent in my cash flow for the month. Combine that with the market being a little shaky in the last week or two, and I’m not all that surprised that this happened. But all debts are paid off, and I’m still on track. At the end of the day, though I’m a little frustrated, it’s just the smallest blip on the radar. I probably won’t remember it in a few months!
How’s the month been for you, in terms of net worth? How long have you been tracking yours?
37 Comments
Dang, for a 23-year old you sure have your finances in great shape! I checked out your portfolio and you are in prime shape to continue capitalizing on your years of compounding given your strong asset base already.
I wouldn’t worry too much about the blip in net worth. As an investor focused on growing a stream of dividend income, the bumps and dips in market value are usually just noise. Be sure and submit your net worth to J. Money at Rockstar Finance! That way you can get on his list and perhaps a few folks will swing by and check out your blog.
Thanks! Like I mentioned in my previous post, I was fortunate to have great parents that set me off on the right path early on. Of course there have been mistakes here or there, but it’s been a fun ride regardless. I just recently finished swapping out stocks that didn’t fit my strategy, some of which treated me very well (RCL), and some that *ahem* didn’t (RGR). Here’s to hoping we do well!
Already submitted my net worth; thanks for the tip!
DD,
Most impressive!
How in the world do you get a net worth well into the six figures fresh out of college? I wish I was better with my finances in my early 20s, as I’d probably already be pretty close to FI right now. But I could have read Buffett’s biography at 18 and still not ended up at 23 where you’re at now. Awesome stuff! You’re off to a great start. Keep it up!
Best regards.
Thanks for stopping by; I really appreciate it! Just got lucky I guess. Great parents who started me on the right track, pathological aversion to debt, getting a job in a high-paying area, and the occasional lucky trade (TWTR, for example). But it’s like you said before on your blog: it’s not so much when we start, but that we got started at all.
DD,
That’s a great net worth at this young age and without any debts. You already have a great portfolio.
Congrats and keep it up.
Welcome to the blogging world.
Thank you very much!
Wow! That is one helluva net worth for a 23-year old. Congrats on getting an early start in life. I started off with a net negative by the time I graduated from my masters in 2005 and I was already in my mid-20s.
Keep it up. And thanks for sharing your story. I will be sure to follow along.
cheers
R2R
Thanks very much! I was lucky for sure. I’m the only person I know who managed to escape significant debt from undergrad and grad school; I know I’m really fortunate. Hope to see you around again!
Hi DD,
Welcome to the DGI blogging community. Happy to have you on board!
Very impressive portfolio I have to say.
You are way ahead of many other investors. Please consider yourself very lucky
Good luck with future investments.
Kind regards, DfS
Thanks! Hope to see you around again!
DD,
Insane progress. A lot of 50 years olds out there are wishing they had your portfolio and networth. Run from debt and keep saving aggressively! Keep up the exceptional job.
MDP
I will; thanks for stopping by!
Lookin’ good. I’m impressed (very impressed) that you’re only 23! You definitely have time on your side, so I wouldn’t let the dip stress you out too much.
I think this past month was pretty average for us.
Yeah, I got set on the investing path very early; I’m very lucky. Hey, ‘average’ is better than ‘below average’! Thanks for stopping by!
Thanks for sharing your net worth figures with us. It is quite rare to see someone, at any age for that matter, with $0 debt. Congrats on achieving that milestone. You start your “adult” life without any financial strikes against you. Look forward to your next update and dividend buys as well.
Thanks for stopping by!
DD,
Man you got an amazing start! Great to see another like minded individual my age in the investing community. We are a rare breed, so take pride. I’m looking forward to your future progress. Hopefully we can motivate each other to stay on this path when the rest of our peers are tempting us with instant gratification purchases. Also don’t get too down on the decrease in net worth, I’m going through the same thing with Mr. Market being low. but hey think of it this way….look at all the discount prices ;).
take care
Ace
Damn straight, brother. Those discount prices are great for sure; I’m really looking forward to my next Oct purchase. . Glad to see I’m not alone in my age range, and that not all of of us are concerned with our newest gadgets, shiny things, and general thingamjigs. I’ve added you to my blogroll; all the best!
Wow… at the age of 23 I had a net worth of about $0…. with 20K borrowed on a line of credit to invest it in the market
I’m now 33 and my net worth is around 250K (by the way, kids are awesome, but they are a poison for your net worth! hahaha!). I’m currently working on paying off all my consumer debts for February 2015. At that time, I’ll only have my house and my car loan left (I’m on a plan to pay about 30K in consumer debts in 2014). This will literally change my budget!
Congrats on your progress!
That’s a really ambitious plan; paying off $30K of debt in a year?! That’s seriously impressive, and I wish you the best of luck in that! Thanks for stopping by!
Congrats on the big 0. Any month I don’t increase my debt is a good month. I look forward to your future updates.
Thanks, see you around!
Wow, great stuff! You’re doing amazing for your age. It looks like I have step up my game to compete with the younger folks. Is your girlfriend is professional golfer by any chance? If so, you do have a good fall back plan haha.
Thank you! Haha, no, she’s on her college’s golf team. Though she certainly is good enough to be pro, if you ask me. Much better than I am, what with my 30-something handicap …
Looks great…although we are doing well now, my first Net Worth would have been a negative number.
Keep saving, keep investing, and be patient – your net worth will grow before your eyes.
I see you have no debt, keep it that way as long as you can and you will do great! Best Wishes. AFFJ
Thanks! It’s hard to stay on track sometimes, but the end result is worth it.
Very good job. Always good to get the ball rolling early. Keep up the good work.
Robert the DividendDreamer
Thanks!
Wow you’re doing very awesome for your age. Keep up the good work!
Thanks!
Wow, when I pay off my mortgage, I’ll be asking for your advice! I think getting a good start is so important when it comes to personal finance. You’re a good example of what a few years of hard work and smart investing can do.
CheapMom recently posted…The No-Electric Dryer: Part 1
Haha, I’ll be happy to give it! I’m definitely fortunate that my parents gave me a good start, and that I could take it from there. Thanks for stopping by!
Great job! I really like the debt amount…0!
Debt can really hinder your progress if you let it. Of course that’s not the case with you
cedric @ FuggingDebt recently posted…7 Fugging Ways to Lower Your Grocery Bill
I know it. I’ve seen classmates and coworkers struggle with debt, and it takes a lot out of you, financially and emotionally. I’m lucky to be debt-free for sure. Thanks for stopping by!
Wow , a very impressive networth indeed! If you continue at full, or even half speed you will be a millionaire by the time you turn 45. I really started investing last year when i turned 24…i am 25 now with a home so it is a bit of a challenge to invest large amounts of capital, but i still invest smaller amounts on a monthly basis. Best strategy for you would be to save/invest as much as possible now, so that by the time you get married, have kids, a mortgage, ect you will have enough dividend income to continue regularly investing. Best of luck…i will definitley have to start following your blog on a regular basis! It’s nice to see like minded, young investors getting a jump start on their wealth. Cheers.
Josh
Hi Josh, thanks for stopping by! Yeah, I’m at a point in my life where I have a lot of free capital and not much to spend it on, so I’m lucky. Exactly like you said, I won’t be able to save so much forever, so gotta do what I can now. Good luck in your investments too!
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