Saturday, August 12, 2006

$100k At Last

I'd be fibbing if I said I hadn't been looking forward to this for a while:

Networth IQ: My Net Worth

As of July 2006, our household net worth breached the $100,000 mark for the first time ... and, more importantly, closed the month above it. We finished July with a net worth of roughly $100,048.

No, $100k isn't all that much anymore. But it's a far cry better than where we were a few years ago. As a random point of reference, in October of 2003, our net worth sat at $45,788.

Back then, we had ~$2,500 more in short-term liabilities than in liquid assets. We also carried ~$6,047 in student loans. By that time, I had whittled down these amounts pretty handily since I'd started this site and blog (see February 2002).

Now, of course, I have neither. What credit-card balance I have (~$18k) is entirely due to zero-percent arbitrage, which means that (1) I can pay it off anytime I want, and (2) it's making me money.

I also now have a car payment, which is regrettable. But with the loan rate fixed at 3.95 APR, and savings paying me 5.15 APY (~4.11% after taxes), I'm not losing a great deal of sleep over it at the moment.

So pardon me if I feel the urge to put back a cold Heineken this evening. I've been looking forward to $100k for quite some time!

— Posted by Michael @ 9:56 PM



That milestone is still a LONG ways away for us, but we can look at you as someone who made it that far :D


Congrats, we also have achieved a milestone this week, our Net Worth has increased to $200K this month.

Anonymous Anonymous
, at 8:43 PM, August 13, 2006  


Congratulations !!. Here is wishing that you reach 200 K much faster !!

And thanks for your website and blog. Reading it has made my net worth go up too!!


While calculating networth,you have taken 0% debt too which you feel you can plan investment and get a return more than 0%.But dear,plannng part is ok,but is it contributing factor that you are eligible for 0% interest free debt.I think you will agree the 2nd part and not the first one and then go on accumulating to make it 100 K.Interesting,Michael.Networth is what you have after you have made provisions for all type of payments that are to be made by you.


Hey, that's great news...congrats! I remember throwing back a few beers as well when we celebrated reaching the $100K milestone. Now we have the quarter-million mark to look forward to.

Enjoy yourself and job well done!


That's great news! My dad says the first $100,000 is the hardest to get. I hope he's right!



** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]