Before this journey begins,a starting point needs to be established so we can measure progress,or the lack thereof.My first thought on this was to use net worth as the benchmark.I'll be discussing my net worth,but net worth isn't a specific correlation to my goal.So,what is my goal?
My goal is to generate $4000 a month of extra money from sources other than my hourly wage.There it is,my goal,the reason behind this blog.
Assets:
$150,000(aprox.) home value
$15,000 brokerage account
$13,000 wife's 401k ( she puts the minimum in to receive company match )
$11,500 total value of all 4 of our vehicles
$250 value on aprox. 25 white homing pigeons ( ???-I know.This will be explained later)
Liabilities:
$107,000 remaining on mortgage
$10,000 on credit card at 3.99% fixed
$11,500 remaining on auto loan
Intangibles:
fairly good health
wife's college degree in medical field
my life insurance license
Net Worth:
$61,250
Increasing my net worth isn't the goal,but it is fair to reason that if my goal is ever reached then my net worth will have increased as well.
Monday, February 28, 2011
Sunday, February 27, 2011
About Me
Just what the world needs,another blog about money.So the question begs to be asked,why? For several years I have been searching blogs for alternative ways to make money.It seems like all I can find out there is,"make money with your blog",or "let's watch my 401k grow together."Any of that sound familiar?
This blog will be different from the norm.For starters,I'm 44 yrs. old and I don't have any money set aside for retirement,so we won't be watching my 401k grow together.Secondly,I can't type,can't spell,and don't know anything about blogging,so monetizing this blog is not high on my priority list.I quite college when I was 20 and have been a blue-collar guy ever since.Currently,I'm punching a time card for a local start up company at a rate of $10.50 hr.This blog will track my progress in pursuit of other income streams. so I can say goodbye to the time clock.
Posts that will soon be following will cover more about me,more about my strong points and weaknesses,and of course an action plan for getting from where I'm at, to where I want to be.
Be patient with me,I'll be posting pics and streamlining this blog as soon as I learn how.
c
This blog will be different from the norm.For starters,I'm 44 yrs. old and I don't have any money set aside for retirement,so we won't be watching my 401k grow together.Secondly,I can't type,can't spell,and don't know anything about blogging,so monetizing this blog is not high on my priority list.I quite college when I was 20 and have been a blue-collar guy ever since.Currently,I'm punching a time card for a local start up company at a rate of $10.50 hr.This blog will track my progress in pursuit of other income streams. so I can say goodbye to the time clock.
Posts that will soon be following will cover more about me,more about my strong points and weaknesses,and of course an action plan for getting from where I'm at, to where I want to be.
Be patient with me,I'll be posting pics and streamlining this blog as soon as I learn how.
c
Subscribe to:
Posts (Atom)