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2011 Net Worth Update

January 11, 2012 by Eric Rosenberg

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Well folks, I was out of town for my usually monthly net worth update, but I decided to do a little more digging for my last update of the year. My year end net worth was $98,081, an increase of $66,322 over the prior year end. My 209% increase was driven by two major factors that need to be explained.

First, I took control of an account my parents had for me for college. I never needed the account, as I had a full ride to undergrad and paid my way through grad school. Because it was not a restricted account, I had my Dad keep it as a “secret down payment” account for my first home purchase. Second, when I bought my home I pushed a hard bargain to get a fair price. The price was so good, that it was far below the standard (easy) home valuation method today, which is Zillow. The instant home equity increase was substantial, but the price has leveled and I decided to lock it in for consistency going forward.

At the end of the day, though, things seem pretty good. I am building my emergency fund back up to $5,000 before I start rebuilding my stock portfolio and I am on track to have that done by the end of 2012, if not sooner. I am also accelerating my payments on my student loan. I have $6,658 to go and I am all paid off. I am also trying to get that done by the end of the year.

To help pay for this, I am using two strategies. First, I am budgeting and spending less than I earn. Second, I finished paying into my flex spend account for my eye surgery. That is giving me an effective $200 per month raise. Add that to my tight budgeting and I should be all set.

Here are the numbers for December:

Assets $ Diff % Diff
Cash $4,121 $1,612 64.25 %
Stocks $516 $41 8.63 %
Bonds $0 $0 –
Annuities $0 $0 –
Retirement $20,772 $587 2.91 %
Home $167,600 $0 0.00 %
Other Real Estate $0 $0 –
Cars $14,528 $0 0.00 %
Personal Property $0 $0 –
Other $335 $7 2.13 %
Total Assets $207,872 $2,247 1.09 %
Debts $ Diff % Diff
Home Mortgage(s) $102,554 ($143) -0.14 %
Other Mortgage(s) $0 $0 –
Student Loans $6,658 ($442) -6.23 %
Credit Card $579 ($529) -47.74 %
Car Loans $0 $0 –
Other $0 $0 –
Total Debts $109,791 ($1,114) -1.00 %
Net Worth $98,081 $3,361 3.55 %

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Filed Under: Income Reports

About Eric Rosenberg

Eric is the founder and editor of Personal Profitability. He left his corporate finance job in 2016 to take his online side hustle full-time and now earns a six-figure online income.

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Comments

  1. Anonymous says

    January 11, 2012 at 8:00 am

    Woah 200%  amazing results!

    • Eric says

      January 11, 2012 at 10:02 am

      Thanks. I try to kick butt where I can.

  2. 20sFinances says

    January 11, 2012 at 7:23 am

    Nice update. Once you get that debt paid off, you will have a lot more to spend each month!

    • Eric says

      January 11, 2012 at 10:01 am

      My minimum on the student loan is $93 per month, so not too bad. Once it is paid off, the mortgage is next.

      • 20sFinances says

        January 11, 2012 at 10:20 am

        That’s not bad then. But yes, ever extra bit helps.

        • Eric says

          January 11, 2012 at 10:55 am

          Agree 100%. I will be happy to see that go away.

  3. [email protected] says

    January 11, 2012 at 8:40 am

    Amazing work! Does your lack of liquidity of worry you? or do you do it because it DRIVES YOU

    • Eric says

      January 11, 2012 at 10:04 am

      I am trying to build my savings account back to $5000 for “what if” scenarios. Once I have that cushion, I will throw extra savings into my stock account. I have huge credit limits, so I am not too worried about needing cash in a hurry. I always have enough saved up somewhere to pay off the credit card bill in full at the end of the month.

  4. John @ MarriedWithDebt says

    January 11, 2012 at 10:26 am

    Congratulations on the large increase and having so much equity in your home. I think 2012 will be even better for you. I’m about where you were a year ago, but I don’t foresee a 200% increase.

    • Eric says

      January 11, 2012 at 10:55 am

      Just stick to your guns and do the right thing (even when it is difficult) and you can see big growth too!

  5. Jenna says

    January 12, 2012 at 5:31 pm

    Congrats on buying a home in 2011!  I’m terribly jealous.  Hoping to have a home of my own in 2012.

    • Eric says

      January 13, 2012 at 8:41 am

      Don’t hope, plan to make it happen. Action is the only way to make your dreams come true.

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