It’s been 3 quarters since I updated my blog – horrible, and I promise to be better in 2018, but I will be blogging about something different.
Last year, I anticipated that our net worth would not grow materially, and suggested that we would hit $2.1 million, which was based on an expectation that most of our cash would sit idle, as we built our house.
Unfortunately, I was correct, it sat idle waiting to start construction. Worse, we did not get our permits until December 2018, 330 days after submitting our plans to the City – lovely. The result, my cash will sit idle again in 2018…Not fun…Unless, there is a market meltdown, in which case it might be a great idling.
Without further ado, 2018:
- As noted, we are continuing to invest in the construction of our new home. Expected lift on the construction has declined, though any is unrecorded, as we are running into extra costs on geo-technical.
- As we said in the last net worth update, we sold our pre-sale condo at a substantial profit.
- We purchased a pre-sale townhouse.
- This is predominantly cash at the moment. Combined with cash held permanently, we are sitting on ~ $650,000 in cash, which is the most I have ever had.
- Poor cash will be idle while we build the house 😦
So, what was I doing in 2017 if I wasn’t focusing on net worth or updating my blog? Like the Financial Samurai did a number of years ago (see link: Almost Everyone is Overweight), I decided to focus on my health. I set a goal to run every single day in 2017 and as of this writing, I have now run 395 days in a row at an average distance of seven kilometers per day. Over the 395 days, I have lost ~ 30 lbs and have a goal this year to lose another 25 lbs, which would bring me to ~ 145 lbs, which would be the lightest I have been since graduating high school.
In addition to running every day in 2018, I have another goal this year. I am going to read one book per week, including audio books, and write about what I am reading on my blog in a “What I am Reading” section. It’s week three in January and I am done 3+ books. Fortunately, I also have four to five books started that I can push through to hit the goal.
Where will we land in 2018 with our net worth? I don’t expect any major upward movement with our cash sitting idle and will suggest that we will end the year at $2,250,000 based on higher salaries, less spending, and some investment appreciation. It’s unfortunate we are unable to invest this year. My goal, to fund early retirement, is to grow our net worth at between 15% and 20% per year and $160,000 on $2,090,000 is only 8%, far short.
Well, that’s all for now. Until next time.