Saturday, December 18, 2010

December 2010: $–10,859 (+$1,511)

Bank accounts $14,376
Mutual funds $21,956
Pension savings $1,758
Student loan $–48,949
Net worth $–10,859

Saturday, November 20, 2010

November 2010: $–12,369 (+$654)

Bank accounts $12,666
Mutual funds $21,189
Pension savings $1,771
Student loan  $–47,995
Net worth $–12,369

Saturday, October 30, 2010

October 2010: $–13,023

Bank accounts $12,828
Mutual funds $19,467
Pension savings $1,723
Student loan  $–47,041
Net worth $13,023

My millionaire to-do list

J.Money at Budgets Are Sexy has created a Million Dollar Club where anyone can join. The only requirement is to write down your millionaire plan and post it on his blog. This inspired me so much that I set up this blog just to make my millionaire to-do list and write about my progress. Thank you, J. Money!


Here is my millionaire to-do list:
  1. Get a well paid job that I like before june 2012.
  2. Be frugal and live below my means.
  3. Save at least 30 % of my net income every year.
  4. Buy good mutual funds and aim for a 12 % annual return.
  5. Buy a house with more than 30 % cash before the end of 2015.
  6. Repay the mortgage in less than 15 years. 
  7. Never borrow money except to buy a house.
  8. Write down my net worth every month to track my progress.

With this plan I calculated these milestones in my wealth-building:
  1. I have a positive net worth by the end of 2011.
  2. I have a net worth of $100,000 by the end of 2014.
  3. I have a net worth of $300,000 by the end of 2018.
  4. I have a net worth of $500,000 by the end of 2021.
  5. I have a net worth of $700,000 by the end of 2023.
  6. I am a dollar millionaire by the end of 2026.