Making Me a Millionaire

Net Worth Update

I’m back from my NYC trip and now it’s back to work.  Looks like February was a relatively good month.  Here’s where we stand right now and I’m pretty pleased with the way things are going.

No red!  Seeing all green makes me a happy person!  You’ll notice there was a significant increase in the amount of cash we had.  This is because my husband is still on his severance from his old job (it runs out in April) so we’re currently collecting two paychecks which is nice.  We’re taking his entire paycheck from his old company and putting it away because we don’t want to get used to having 2 paychecks since we know it’s not permanent.

It looks like we have recovered from January and did pretty well this past month.  There has definitely been quite a change since I’ve been tracking the progress of our net worth.  If you’re currently not tracking your net worth, I encourage you to do so because it is so rewarding to see how far you’ve come and it gives you the motivation you need to continue saving and investing!

Feb Net Worth

Well, it looks like this month has been a terrible one when it comes to the stock market.    I was excited last month and thought maybe a recovery was on its way but this month wasn’t what I was hoping it would be.  Let’s hope the January indicators won’t be an accurate in the portend of 2010!  I saw that the loss of $17K was in green in the chart above but it should be in red.  Just too lazy to redo and upload again!

How have the rest of you been doing?  Was January a bad month for you as well?

Where I’m At

So since it’s the beginning of November, it’s time for me to post an update on where I currently am at in relation to my goals.

Liquid Assets: $127,369.26

Good news:  I reached my goal of having $15,000 in my savings account!  Bad news:  Investments did not do very well.  Since October, my overall assets went up about $9,000 but that’s because I managed to put away $10,000 in savings thanks to the bonus.  That means my stocks did not do well at all.

Goals for this month:  Keep dining out expenses under $300.  Start prepping for Christmas season spending.

Where I’m At

Here’s my starting point.  This is where I’m at in October of 2000.

It’s not a bad starting point.  But considering this is what we’ve accumulated as a double income couple who has been working for nearly 10 years, it’s not great either.  I do want to focus on our cash reserves.  I want to have about $50K in there for emergencies.  I don’t want to have to pull money out of our mutual funds or stocks at a loss if something happens and we need money.

As for reaching the $1 million goal…here is where I stand.

12% there….88% more to go!