At the end of 2006, my NW stands at $163,761 (or so). I estimate that this is an increase of approximately $33,000! Not too shabby. This is a conservative estimate based on the increase in NW over the last 4 months (since I have been keeping track). Much of this increase was dumped into our second rental property at the beginning of May (more to come on this topic tomorrow).
So, most of the increase can be attributed to starting work as a full-time engineer. In May, my salary increased due to being hired on full-time, which also helped greatly.
In 2007, I can expect between a 6 and 10% bonus from work (depending how my handlers rate my performance relative to the other plebs). This will hit the bank account in February and will technically count towards my 2006 income, but will be reflected on my 2007 NW.
So, for the next year, I would like to set a similar goal of increasing the family net worth by $45,000. I think this is achievable given that both my wife and I should see moderate raises in the new-year, and we hope that with a more directed marketing approach, our rental business will thrive (more tomorrow and on the 28th and 29th).
Lastly, my company’s ESPP kicked in in November netting me a company matching contribution of 3% of my base salary. This should help contributed to even better performance next year (as long as the company stock remains healthy).
So, wish me luck, it should be a fun year… tune in tomorrow for a discussion of my investment performance in 2006 and goals for the New Year.
This post is part of the writing project over at BiggerPockets.