Home Personal Situation May 2012 Net Worth Update

May 2012 Net Worth Update

by My Journey to Millions

While I still made positive movement this month, it was probably one of the lowest upticks I ever had since I started tracking my net worth and providing updates about 14 months ago.

Calculating my Net Worth

The assets I include are:

  • My Cash Savings Accounts – This has been my main focus for well over a year, as we will need all the cash we can get when we upgrade our living situation.  Just a reminder our current home went on the market 60 days ago and I just provided the newest update to selling my home and buying a new one yesterday.
  • My 401(k)
  • Random Non-Qualified Investment Account – Used to be my trading account until I realized it wasn’t worth the headache
  • The Wife’s Roth IRA
  • My favorite personal finance item, my small but Awesome Dividend Investment Portfolio
  • Value of my House – I have kept this constant choosing to ignore this variable.  It should be interesting to see whether I close north or south of that number and how that will affect my net worth since this is my biggest asset (even net of liabilities).
  • My Traditional IRA – Which I started actively trading last month using a Covered Call Strategy and even created a page to track all my gains (and loses)

The liabilities I include are:

While I am lucky to only have 2 main liabilities, they are very significant.

  • Law School Loans
  • Mortgage

What is missing?

My Net Worth Growth

  • From April, 2012 to May 2012 my net worth increased only 2.04% 
  • Year to Date my net worth has increased 22.48%
  • From January 2011 to April 2012 my net worth has increased 111.60%

How did you do the past month? Feel free to leave your link the comments!

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Jeff 05/01/2012 - 10:32 am

Stinks about the low increase, but at least it’s a positive number evan!

Evan 05/01/2012 - 12:44 pm

Very true Jeff!

Daisy 05/01/2012 - 10:44 am

2% is still a good increase – it’s still an increase, as Jeff pointed out 🙂

Evan 05/01/2012 - 12:44 pm

You and Jeff making me remember a gain is a gain, Thanks!

Marie 05/01/2012 - 12:43 pm

I also don’t consider my car an asset! Though I’m keeping it up there until it’s paid off.

Evan 05/01/2012 - 12:50 pm

Why? Who cares if the net worth sheet is wrong as long as it is consistent. So what if you have a debt with no asset attached?

C The Writer 05/01/2012 - 12:36 pm

Why can’t you say what your actual net worth is? Is it because you’re embarrassed by how much debt you’re still in, or because you don’t want people to know the awesomeness that is your giant pile of money?

Evan 05/01/2012 - 12:47 pm

I don’t feel comfortable putting it out there, since I can only keep this blog a secret so long. I wouldn’t feel comfortable if my friends and family knew exactly what I had in what account.

The debt doesn’t embarrass me – actually when I first started this blog almost 4 years ago I put EXACTLY how much credit card debt I had:


C The Writer 05/01/2012 - 5:35 pm

You had 70k in law school debt. Is that what you started out with, or was it more like 100k? Just curious. And SO glad I never went to law school. I mean, it’s cool if you really really want to be a lawyer (ick) but not a good idea for anyone else.

Evan 05/02/2012 - 10:41 am

I don’t know how much I started with just because I wasn’t really in tune with my finances. If I had to ball park it – probably around $80K.

I agree that too many people go to law school to “find” themselves and that is a TERRIBLE idea.

Funny about Money 05/02/2012 - 11:33 pm

Do you think that law school was worth the cost? A lot of folks who went to law school in the last decade or so seem to feel they’d been oversold on it. Right now I have a student whose heart’s desire is to get into law school…hope she won’t find it disappointing.

Jenna 05/01/2012 - 3:18 pm

I’ll take positive, not matter how small, over negative any day. Congrats!

Evan 05/02/2012 - 10:45 am

Very good point Jenna

Julie 05/01/2012 - 9:00 pm

The markets didn’t do so great in April, so having a gain of 2% is still pretty darn good!

Evan 05/02/2012 - 10:54 am

Thanks for trying to make me feel better! Still sucks lol

Nick 05/02/2012 - 2:44 pm

I’m with you on April, Evan. It sucks to see the percentage drop, but you’re still heading in the right direction and even only 2% a month is a pretty sweet annual return… Great keeping the positive streak alive.

Nunzio Bruno 05/02/2012 - 10:24 pm

I agree with you in one of your previous comments about not wanting to put actual numbers. I think the percentages work just fine. As to your concern about the rate at which your worth is growing – positive is still positive. It was really impressive to see what you did with a years worth of time so I wouldn’t sweat a slow growth month. May has only just started 🙂

Funny about Money 05/02/2012 - 11:39 pm

Same thought about the car as not-an-asset. Even though I pay for my cars in cash, and even though the clunk is still running well at 110,000 miles, it’s still a money pit: repairs, tires, gasoline. Guess you could call that the cost of transportation (figure it would be about the same, maybe a little less, than public transit, if we had credible public transit here). However, I see the thing as a money bomb waiting to explode. Sooner or later it’s going to conk out, and then I’ll have to pony up some unholy amount of money to buy a new car, which will jack up my car insurance beyond what I can afford. Each year the car’s resale/trade-in value drops, and so in that sense it’s losing money year by year.

20's Finances 05/03/2012 - 11:02 pm

That’s it? I saw a huge increase in my net worth in April. Take that! haha – Well, I needed it after a negative change in March. 🙂

SB 05/06/2012 - 9:37 pm

That’s impressive performance. Why don’t you try out AMEX charge cards? Same rewards and moreover you will be compelled to payoff every month.

Belinda 05/15/2012 - 5:00 am

I agree with your decision not showing the exact amounts in your Net Worth report. Disclosing too much details regarding this matter may affect your relationship with your friends and relatives. I believe that the exact value/amount should only be known to you, your wife and your financial advisor if you have one.


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