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Net Worth Update

November 29th, 2013 at 04:41 pm

Net worth update.

Still tryiing to stabilize.. hoping to hear from bank next week on if they accepted my offer of $260,000 for the house and then I need to get the money. Once I stabilize w the house my goal is going to be saving and investing as much as I can.. kick my advisoring part time work into high gear. I am VERY light on retirement savings and this morning kicking myself major big time because of it but still proud I am back in the game (restarted 401k, roth this year) and other savings but really where would I have been had I not done that (wiht encouragement from this group). Was I am in la la land or what. Seeing that networthiq website really motivated me (and made me feel sortof bad) .. LOTS of people with $500k= in retirement accounts. I figured it out last night.

At 20%, $500k turns into over a million in 5 years.. but starting with $10ok (no contributions) i t takes 15 .

"this too shall pass"

PRAYING to stabilize and figure out this house thing or not.. very stressful to not know.

Networth attached. No big change which I guess is 'good' becaause I spent $12k + in extras and still managed to stay almost even but need more LIQUID cash!!

Posted in Net worth | 2 Comments »

2 Responses to “Net Worth Update”

  1. PatientSaver Says:
    November 29th, 2013 at 06:10 pm 1385748602
    1385748602

    How will you be earning 20% return on retirement savings?

  2. Rachael777 Says:
    November 29th, 2013 at 06:23 pm 1385749399
    1385749399

    that is my goal.. but investing in stocks... I will be trying a 'Dogs of the Dow' approach start in January (will share it then once clarified). also looking into setting up a solo401k (I have an LLC for the real estate). if I can do it (unclear as I have a 401k at work and the LLC operates at a loss but speaking to someone Monday).. later when I have things settled and can start saving for real I cn contribute up to $51k per year. even if i can not set that up now I can set it up once this contract ends and I have a new job (if it is job restricted). Just being really creative ..looking into all options. I have essentially less than $5 k in retirement savings and am 43 (BIG WAKE UP CALL) and in 5 years will have $5500/month cash flow... but 5 years is a long way to go and I want to have savings then too.

    Aim for the moon .. settle for the stars

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