Have you ever been to the mall and looked at the red dot on the directory that says “you are here”? Well this is it, my first official post and the you are here sign.
You need to know where you are if you want to get a clear idea of where you’re going or where you want to go. In the world of personal finance and wealth, that would be your net worth. The road to wealth begins with knowing this seemingly unimportant number.
If you can measure it you can improve it. I started tracking net worth a few months ago and it was an eye opener for me. I started noticing trends and how certain actions affect my net worth. Now it’s like a game to see how much I can improve my net worth each month. Net worth is truly my score card on how I’m doing on my path to wealth and financial freedom. Trying to accumulate wealth without tracking net worth is liking trying to lose weight and never checking the scale.
$133,015.71. This is my net worth as of today. Pitiful I know. I’ve been on the workforce for about 12 years so that’s equivalent to saving $ 11, 084.64 per year. However, because of interest the savings contribution was actually less, a lot less.
Where do I want it to be? 1 million dollars. What’s my time frame? I’ve set myself a time frame of 5 years to accomplish this goal. Let the games begin…
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