Every October I do my Monthly Net Worth, just like every other month for the last several years.
What makes October special is that I have kept a record of my Net Worth every October since 2006.
TWELVE years of data and a great way to gauge the progress of my financial empire.
Part of the reason I got into this blogging thing in the first place was to keep me on point. Watching this nest egg build year after year never gets old. You can truly see the impact of continuously compounding interest and new investment.
I can also start to play with some interesting math. My average yearly gain is % 42.26
If I take out my best and worst year, the number drops to % 19.32, Probably more realistic.
Once the pile grows big enough, it starts to out earn your yearly income. This is the beginning of empire. The nest egg takes on a life of its own.
When this happens, it is Truly a Moment in our Financial Lives.
P.S. Screw October 1st and 2nd of 2019, they cost me over $13,000 bucks right before I take an official count. Boo! Hiss!
P.S. Watching numbers this closely really makes you realize how the timing of your retirement is both crucial and beyond your control. What if the economy takes of dive during the last five years of your earning potential? What a hit! Conversely, a nice big wave carrying right up to the moment you pull the plug really changes the numbers.