What gets measured gets managed

To keep myself accountable here and to also serve a singluar referance point for myself of keeping track on my networth.

Income Report #1?

This one is simple, and I hope very soon it will get much harder to keep track of my networth. But for now, it’s actually pretty easy to break down (which I think is not a good thing…)

  • Rental Property
    • 410k left on mortgage at 5%
    • break even on rent/expenses
    • have about $50k - $100k+ in equity depending on prices
  • Car
    • paid off
  • Cash
    • $110k (in the bank at the time of writing)
  • Current Salary
    • $15k/month
  • Retirement
    • 401k etc $20k
  • Credit Cards
    • Have a rolling $1k/month that get’s paid off
    • Have a total credit limit around $15k
    • Have a very well above average credit score

Overall, adding everything up, on the high side I say I currently have a networth of $200k but that is on the high side. A big chunk of that being depending on what my rental is worth.

The cash amount is much easier to quantify. A goal of mine is I want $1 Million liquid within 2 years.

A couple years ago, I remember when I had finally paid off a personal (school) loan, paid off credit cards, and then finally got my college credit card credit limit lifted, and then finally had $10k in the bank….

I remember saying to myself…

Ok, now I need to 10X that

Granted that took me much longer than I thought it would. But at least I got this first step. The next step here is I need to 10X my current $100k to get to that first million.

Even once I hit that goal, I don’t really forsee any major lifestyle changes or expenditures. That number for me is more symbolic of leveling up.

I am grinding to make sure the next time I do this income report, it is with an additional income stream.