When I reviewed my finances for the end of May 2007, I predicted I would be breaking the six figure barrier around the end of the first week of June.
That didn’t happen, and it looks like I’ll be putting off that milestone for another month or so. Thanks to the fact I signed my new lease and handed over my first month’s rent payment in addition to the one-and-a-half month security deposit, I’ve taken a step backwards. The out-of-the-ordinary expenses for the month aren’t finished. I still have to hire movers for my larger pieces of furniture and pay them.
A friend of mine, who owns a business and a van, has volunteered to help with the move. I’m hesitant to ask for his help because I feel like we’ve passed the point in our lives where it’s appropriate to trade moving help for dinner, something which was common when we were in our twenties. Hiring professionals seems to be the way to go.
At the end of the month, I’ll re-evaluate my situation and try to determine when I’ll pass the six figure milestone for net worth.
(Just to be clear, my calculation of net worth isn’t my true net worth, bit it is the way I’ve been tracking it publicly for four years.)
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No offense, but I don’t think you stand a chance of breaking any marker this month. Unless, that is, equity/debt markets recover over the next two weeks.
Absolutely no offense taken. That’s the problem with having a good portion of my assets invested. My net worth is at the mercy of the markets.
Wow networth of close to 100K… I’m like -145K
I try not to be too involved with “milestones” because they can change so quickly. What does it matter if I break 100k, only to bounce up and down between it for months. I think it’s more substantive substantive to have a milestone of over 12 months over X amount or something like that, almost like a moving average.
Dong: A milestone of $100,000 is as arbitrary as a milestone of $76,819 or any other random number. It’s good for tracking long term progress, but as you said, there’s so much fluctuation, there’s no immediate meaning other than “fun.”
Not sure of your age, but whether or not the friend’s van and help can be traded for a free meal depends largely, I believe, on the relationship you have with your friend. In my closest social circle, an entire weekend of hard labor (16+ hours of building a deck around a pool) can be gotten for the price of burgers on the grill and beer in a cooler… and we’re mid-30s to early 40s. Reciprocal labor is also expected sometime in the future, however. Maybe my friends and I are just cheap, though.
I’m with PiggyBank Raider. I borrowed two husbands to move into my condo. Granted, I was going to a bedroom in a house to a studio and didn’t have a dining set, bookcase or sofa back then, but what are friends for? Treat them to dinner and maybe give them another special gift later.
The one pro argument I’ll make for movers is that movers are bonded and insured and your friends are not. The one time I hired movers, it was to move a bedroom set I was buying. I couldn’t bear the thought of my friends getting hernias of my account.
I hit 300k net worth for exactly ONE DAY. Now, I’m back to 294k. I still feel good about my overall progress. But, my focus on that darn milestone is causing me to be a bit bummed, regardless!
I just wanted to comment on trading moving services for meals. Your friend is in the business, he has offered. Just because you feel that you don’t have an equivalent service to render him shouldn’t stop you from accepting his offer at any age. My friends have 2 kids and a dog. I’m watching the dog the entire weekend for the privledge of sleeping at their house and eating their food. They wanted to pay me but I’d rather take payment in the form of them inviting me over for dinner. Spending time together is way more valuable to each of us than $50 bucks. Just because i’m single and can afford stuff because I’m frugal doesn’t mean they can afford fun things by being frugal. Kids are expensive and I’m glad I can help them get out of the house for a long weekend with their kiddies.
-Alex
Still think it’s great you’re almost at that 6 figure mark. It’s a pretty good feeling when you reach that milestone, no matter when it happens! :) $50 more dollars left to reach it??
Im 27, my wife is 28 – I just did a rough tally and our net worth is about 620K
plus/minus about 5K for error sake