December 2006 Net Worth Snapshot
We have had a very similar rate of growth over the last 4 months. The extra spending and tuition costs of December were made up for by a Christmas bonus that I received. If we continued to average a net worth increase of about $2500 a month, it would take nearly 32 years to reach a million dollars, so it’s definitely something we want to increase, but with time and compounding, that shouldn’t be a problem.
As we had hoped, we were able to finish the year with a net worth of over $45k. I will be discussing the progress and plan for each account in more detail in an upcoming Year End Review.
You and I are pretty close. I’m at $50k with increases of about $2300/month (though I measure my net worth a bit differently).
Though it would take us over 30 years to get to the $1M mark, that $2300-2500 number should go up as proportionally more of our progress comes from capital appreciation and less from savings.
I think, though, for most people, increasing their net worth by over $2000/month would be beyond comprehension.
Keep up the good work!