DINKs October Net Worth: Broke Through the $1,000,000 Mark

by James on October 27, 2013 · 12 comments

Hi All,

We updated our net worth this month.  It looks like we’ve passed the one million threshold.  This is terrific news.  My wife and I have been seriously working at building our finances for over a decade, so its nice to see some payoff.

In terms of the major takeaways here – most of our gains have come from investing in real estate and maxing out our contributions to our 401k programs.  The million figure isn’t necessarily all that firm  This is because a lot of the assets on our balance sheet might have additional costs if we were to sell them.  For example we’d likely have to pay 5 or 6% commissions to unload our real estate, but the nominal values are mostly right.

October net worth

 
In terms of what has been working to build wealth we find that over time maximizing our retirement contributions, investing in stocks and purchasing income producing real estate have been the major drivers of our growth.

For more on high net worth bloggers, check out J Money’s ultimate listing of blogger net worths.

For our historical net worth, click here.



{ 12 comments… read them below or add one }

1 J. Money October 27, 2013 at 9:08 pm

Dang man, congrats! That’s huge!

2 James October 27, 2013 at 9:29 pm

Thanks J. Congratulations on your Plutus!!!

3 Jen @ Frugal Rules October 28, 2013 at 3:21 am

What an achievement! May there be more who will be able to follow suit, hopefully including me. :))

4 James October 28, 2013 at 10:29 pm

Hey Jen – thanks a ton for stopping by and leaving a comment. I really hope that readers of this blog will take this number as an example. If you work at it, you can achieve financial freedom.

5 Charles@gettingarichlife October 30, 2013 at 5:15 am

Nice work, I’m a huge proponent of real estate. What states are the rentals located in?

6 James October 30, 2013 at 7:15 am

Hey Charlie,

Thanks for the note. The places are in DC and Oregon. DC has unfavorable conditions for investing. I would reccommend Virginia if you want to look at real estate in the DC area.

Thanks,

Jamed

7 Cat Alford (@BudgetBlonde) November 19, 2013 at 12:02 pm

Awesome work you two!!!

8 James November 19, 2013 at 9:23 pm

Hey Cat, Thanks for the note. Its always great to get the encouragement! Hope your week is going great.

9 RT November 20, 2013 at 10:25 am

Hey, I linked here through Budgets are Sexy.

How do you decide what value to assign to a property for the purpose of your balance sheet? I also have investment properties in the DC area, and I have had a hard time deciding what value to assign to them? (Cost, approximate true market value, some sort of zestimate)

10 James November 21, 2013 at 10:44 pm

RT,

Great question, thanks for stopping by and thanks for leaving a comment. We use zillow to estimate our properties. When they actually get appraised, say like when an appraiser makes an estimate as part of a refinance, then we will update the values at that time. But otherwise are using zillow.

Thanks,

James

11 Leona (@allmydollarsandcents) December 13, 2013 at 10:25 am

I’ve been following Dinks for a few years. Congrats, Congrats, Congrats I’m so happy for you both!!!

12 James December 15, 2013 at 10:31 pm

Hi Leona,

Thank you for stopping by and thank you for the well wishes. I look forward to seeing you cross the million mark in the near future!

James

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