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.
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.