Its a while since we last sat down and figured our net worth, so this weekend we sat down and added it all up. Relative to when we last checked the figures last November, our wealth has grown from $295,000 to $313,000. This is a 6% increase in 5 months.
Honestly, the numbers are a bit disappointing. Our net worth was nearly $400,000 before the stock market drop last winter. Seeing our wealth decline from 400k to 313k is somewhat discouraging. We’ve both been working on saving and investing diligently for the past four years. That said, retirement is a long way off and I’m optimistic that we’ll hit our goal of $4,000,000.
So, we’ve taken a couple of steps that should help in the future.
1) We invested $10,000 in a friends start up software company. At this point, I’m reticent to say too much about the deal. The individuals involved are still soliciting funding and I’ve agreed not to share information about the IPO. The main idea is to sell web-based recording software to small or medium sized business in Oregon that need to record their telephone calls. If everything goes according to plan – a big if – this will yield 18% starting the end of next year. This would be a big wealth boost.
2) In lieu of purchasing an investment apartment in Portland, Oregon, we decided to pay off the bulk of Miel’s student loans of $39,000. This should result in reduced monthly expenses of approximately $441.14. Not having to fork this over should make the rest of our financial goals easier to achieve. We will use the rest to pay down debt or to build wealth.
Okay, so here is the nitty gritty.
The picture may be a little small, if you click on it, you will get a more readable version.