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Passive income is necessary for effective wealth building. I’ve put together a list of 10 different forms of passive income to help you build wealth. I’ve found that some passive income streams work better for certain people than others. It’s up to the individual to find which will work better for their situation as well as their personality.

Disclosure: Some of the links below are affiliate links, meaning at no additional cost to you, I will earn a commission if you click through and make a purchase. Thank you for supporting liveoffdividends.

 

1.) Stock Investments

Investing in certain stocks, ETF’s, index funds and mutual funds will provide you with dividend income. This is my favorite form of passive income because it’s one of the easiest forms.

2.) Real Estate

Owning rental properties or commercial properties can generate rent for you that ideally, will cover all your expenses and provide you with a positive cash flow. Rental properties that are self managed require work from time to time, making it a little less passive. There are property management companies that can make rentals almost 100% passive, at a cost.

You can also invest in real estate without purchasing any property. Realtyshares allows you to invest in real estate with a small amount down.

3.) Start A Business / Buy A Business

Starting a business is probably the ultimate wealth builder. Initially a business will require full time hours but eventually you can hire someone to run your business to make it passive. You also have the option of buying an already existing business in which case you could hire someone to run it immediately.

4.) Start A Blog

Starting a blog is a great way to earn passive income. There are blogs out there that make millions of dollars per year. Blogs generate money through advertisements, affiliates, sponsored posts and more.

If you’re interested in starting a blog support liveoffdividends by signing up for Bluehost webhosting using our link here. You can read our full Bluehost review here.

5.) Write A Book

Writing a book is a very pure form of passive income. Though writing a book is very time consuming, once you publish it, all the work is done. You can publish your book on Amazon and simply collect the profits.

Check out the ebook I wrote called Investing In The Stock Market: The Complete Beginner’s Guide

6.) Peer To Peer Lending

This is a form of passive income in which you invest in loans to other people. There are many different loan options and there is always the chance that the borrower will default. I have yet to try these sites but two of the most popular are Lending Club and Prosper.

7.) Create An Online Course

Designing an online course is similar to writing a book. You put all the work in once and then it’s on autopilot. I’ve seen some very successful online courses.

8.) Create Youtube Videos

I think we’ve all seen some of the successful Youtube content creators out there. These creators make money in various ways including sponsored products and advertisements. Youtube can generate a large amount of passive income if you are able to build a large enough audience.

9.) Rent A Room In Your House

This can take a little upfront work but it can be pretty lucrative. Sites like Airbnb allow you to easily rent out a space in your home for travelers.

10.) Create A Mobile App

Though you may not be a software developer you can still create an app. You can hire out all the programming work to get your app finished. Once finished there’s little involved aside from bug fixes and updates. Apps generally make money through ads and in app purchases.

The post 10 Ways To Earn Passive Income appeared first on Live Off Dividends.

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There have been many changes to 2018 taxes in the recently passed GOP tax reform plan. Most of the tax rates and income thresholds have changed from 2017. Though, there are still seven brackets.

There is a common misconception that if someone crosses into the next tax bracket by even just $1 their entire income will be taxed at the new higher percentage. This isn’t the case. Just the amount earned into the next bracket will be tax at the increased rate. This is also referred to as marginal tax rates.

For this example we’ll assume that someone is a single filer and made $38,701 this year. The top  of the 12% tax bracket is $38,700. They will be taxed $4,453.50 for the $38,700 and then they will pay 22% on anything above $38,700 up to $82,500. So they will pay 22% on the $1.00 amounting to $0.22 for a total of $4453.72. Not 22% of the entire $38,701.

Here are the current tax brackets:

 

The post 2018 Tax Brackets appeared first on Live Off Dividends.

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The average millionaire has seven streams of income, or so “they” say. No one knows who “they” are but this is a concept that is commonly talked about. So what? Well, I’m not sure if this magical seven number is anywhere near accurate but having multiple streams of income is obviously advantageous. Besides, who wants just one stream of income when you can have seven? I’m a firm believer in the power of passive income. The truth is, without it, it’s very difficult to become wealthy in today’s society. A large percentage of the wealthy’s income comes from passive income. Take Warren Buffet for example, he earns about $7,000 per minute from his dividends alone. Per minute!!

Earned Income

There are two ways to get earned income. Either by working for someone who pays you or by running your own business. In other words, income that you actually work for. Earned income is extremely limited by time. You can have multiple earned income streams but you are limited by a 24 hour day and earned income jobs are typically paid by the hour. To earn a decent earned income wage you’re most likely going to need to be full-time somewhere and commit at least 8 hours per day to a single stream of income. This is generally someone’s primary, if not their only stream of income.

Passive Income

Unlike earned income, there are thousands of ways to earn passive income. Passive income is money that you receive with minimal to no work involved. Some popular examples of passive income are owning rental properties, interest, start a website, owning a business, lottery winnings and of course my favorite, income from an investment portfolio. The biggest advantage to passive income streams is that you can be earning income from 10 different streams all at the same time, even while working for your earned income. Passive income is a great way to supplement your regular earned income simply because it’s so hands off and eventually it can even outpace your earned income.

Room For Growth

There’s a good reason why most millionaires have multiple streams of income. Unless you have a very high income or a very high savings rate then achieving millionaire status on a single earned income is nearly impossible. The beauty of passive income is that it generally has a much larger margin for growth. You might get a two or three percent raise at your job each year, which feels great, but chances are it won’t ever amount to enough to make you a millionaire. Things such as stock growth, business growth and appreciation of property can all dramatically increase your net worth. Making it possible for someone with an average earned income to become a millionaire too. In my opinion, creating multiple streams of income, specifically passive income streams, is extremely important to ones financial success. If you could create 3 streams of passive income that earn you an extra $500 per month collectively you would be up  $6,000 per year. If you invested that money for 10 years and earned 6% interest per year that would turn into almost $100,000. That’s a substantial amount of extra money with the possibility of growth and with minimal work involved!

If you haven’t already begun building yourself a passive income stream, what are you waiting for? Get out there and do something that you can look back on in 10 years and thank yourself for!

What is your favorite way to earn passive income?

The post You Need Passive Income To Become Wealthy appeared first on Live Off Dividends.

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This was an incredible month for my net worth. Actually, the best month I’ve ever had. The large increase is due to the recently acquired rental properties. They’re worth much more than we paid for them. I’m really excited to see where this goes this year. I’d love to see it surpass $200,000 this year.

For those wondering, I use  Personal Capital to help track my net worth and I highly recommend giving it a shot (it’s completely free). You can link all your accounts and it basically does all the work for you. It also gives you access to a bunch of really cool tools, like the investment checkup tool.

Personal

My home value increased to $105,000. I’m confident I could get more than $105,000 for this house but, I try to value everything conservatively. +$5,000

My truck value decreased from $7,147 to $6,137. -$1,010

Total: +$3,990

Investment Accounts

Robinhood account increased from $49,700 to $51,998. +$2,298

Roth IRA increased from $15,434 to $15,984. +$550

457b increased from $8,710 to $9,571. +$861

Total: +$3,709

Cash

My cash increased from $9,829 to $2981. -$6,848

Total: -$6,848

Business

North Rental is valued at $100,000

East Rental is valued at $100,000

South Rental is valued at $80,000

Cash $1,700

Total: $281,700/2 = $140,850

Total

Total assets increased from $194,720 to $332,521. +$137,801

Mortgage

My mortgage decreased from $58,649 to $58,501.

Total: -$148

Business

North Rental $80,000

East Rental $80,000

South Rental $50,000

Total: $210,000/2 = $105,000

Total

Total liabilities increased from $58,501 to $163,499 +$104,998

My net worth heading into February is $169,022 up from $136,219 last month! This was a 24.08% increase! This was one of my best months since I’ve began tracking.

The chart above shows my net worth month to month starting from January 2016. You’ll notice there are some missing months, those are all months that I failed to track. It’s interesting that my net worth remained relatively flat in 2016 until the end of the year, but in 2017 I had steady growth from the time which I diligently began tracking.

The chart above shows my net worth’s year over year growth. I hope to see steady growth continuing 2018.

My year over year net worth increased by 110.87%! That is a $88,869 gain from January 2017 to January 2018. I’ve come a long way since January 2016 and I can only hope to keep up this pace.

I have all my old net worth data dating back to January 2016. As you can see by the chart, I was spotty in recording it. I’ve found that tracking my net worth motivates me even further to increase it. So, I will continue to do so and track the results. Since I’ve began tracking my net worth again I haven’t had a single month where it has went down. Again, I can’t stress enough how valuable it is to track your net worth and Personal Capital is a great tool to help you do so.

Here are the rest of my monthly net worth updates if you want to check them out!

Age

I think it’s important to track my age and where I fall percentage wise in my age group as well. I’m 24 years old and my net worth puts me in the 97th percentile. I finally managed to break into the 97th percentile! That’s a pretty awesome achievement to me. It looks like I’ll be able to break into the 98th percentile before I turn 25! Also, here’s the link that I use to calculate that.

This post may contain affiliate links.

The post Net Worth Update: January 2018 appeared first on Live Off Dividends.

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I’m happy to announce that we’ve finally closed on the three rental properties! It took forever and I’m happy that it’s finally over! There isn’t too much information about the three new properties in this post but next month the numbers will start to fill in. I’m excited to share all the new stuff with you guys. I wrote a post detailing how we acquired the houses, closing costs, etc. You can check that out here if you’d like! I didn’t write a rental property post last month, but all the data is included with this one. The last two months have been great with the property, no issues whatsoever!

For 2017, it cost me an average of $215.85 to own/live in this rental property. To me, that’s great. Especially considering that’s less than my taxes would cost me if this house were a single family and not a two family. Having my first year (almost) as a landlord under my belt, I can say that it’s been great. I collected a total of $7,050 in rent so that’s essentially how much I saved vs. if I had bought a single family home. I paid $60.78 additional on the principal this month, as usual. Next month rent will be increased to $675 so I’m going to put that extra $25 towards the principal each month. I may increase the amount I pay towards the principal later on this year, but we’re negotiating a new contract at work so I’m waiting on a pay raise.

For those of you who want to invest in real estate but can’t afford a down payment or don’t want to worry about fixing things when they break RealtyShares may be a good option for you. It is an online investing platform that allows you to invest in commercial and residential properties with a much smaller investment than would be required to purchase real estate out right.

I started writing these posts with the intention of having the three other properties included within a month or twos time. Given that it took forever to close that simply didn’t happen. Going forward these posts should be a lot more interesting seeing as there will be three more properties included. Here are all my previous monthly rental property updates to date if you would like to catch up!

The post Rental Property Update: January 2018 appeared first on Live Off Dividends.

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This will probably be my lowest month for dividends this year. I’m adjusting my investing strategy for 2018. I will be increasing my bi-weekly 457(b) contribution from $200 to $795. This will have a dramatic on this portfolio going forward. I won’t be contributing to this portfolio on a regular schedule for awhile. We’re in negotiations for a new contract at my job so when it’s all settled I will be able to contribute a set amount to this portfolio going forward. You can read the post detailing the reasoning behind this change here.

For those wondering how I make free trades and pay no commissions, I use Robinhood for my dividend portfolio. If you want to sign up, use my link and we’ll both receive a free stock valued up to $150!

These are all the companies that paid me dividends in January amounting to $101.19.

I received a whopping $0.09 from dividends in my Roth IRA this month. It’s almost twice as much as last January at least haha.

My dividends year over year in January increased from $35.58 to $101.19. This was a 184.40% increase year over year. That’s an insane increase.

I received a total of $1,578.94 from dividends in 2017. So far for 2018 I’m just at January’s total which is $101.19.

My total annual dividends increased this month from $1,485.59 to $1,569.22, while my average monthly dividends increased from $123.80 to $130.77. This was a 5.63% increase month to month.

This was a huge month to month increase for average monthly dividends. I wish the increases were this large every month.

For those of you reading this post wondering how to get started investing, I have written an ebook that outlines just that. It is called Investing In The Stock Market: The Complete Beginner’s Guide. You can check it out here, or click the picture below.

Purchases:

MO 10 shares at $70.46 for a total of $704.60. 1/3/18

ADM 8 shares at $39.82 for a total of $318.56. 1/3/18

PEP 4 shares at $116.98 for a total of $467.92. 1/12/18

ADM 13 shares at $43.50 for a total of $565.50. 1/26/18

Sells:

No sells this month.

Contributions:

Total: $880.00

Dividend Increases/Decreases: 5 Increases

Realty Income increased their monthly dividend payout from $0.213 to $0.219 per share. This was a 2.82% increase and will earn me an extra $7.35 annually or $0.61/month.

3M increased their quarterly dividend payout from $1.175 to $1.36 per share. This was a 15.74% increase and will earn me an extra $1.00 annually or $0.08/monthly.

Cincinnati Financial increased their quarterly dividend payout from $0.50 to $0.53 per share. This was a 6.00% increase and will earn me an extra $2.52 annually or $0.21/monthly.

Air Product Chemicals increased their quarterly dividend payout from $0.95 to $1.10 per share. This was a 15.79% increase and will earn me an extra $6.60 annually or $0.55/monthly.

Mastercard increased their quarterly dividend payout from $0.22 to $0.25 per share. This was a 13.64% increase and will earn me an extra $0.36 annually or $0.03/monthly.

Together these increases total to $17.83 annually or $1.48/monthly with no additional capital invested.

This chart shows my average monthly increases from organic dividend growth (growth from companies increasing their dividend rather than growth from additional capital invested ). This was my best month to date with $1.48 in organic growth.

Rental Property: $650

I received $650 for rent in January. I raised the rent starting in February to $675/month so that will be a nice little boost for 2018.

I’m still behind 11 contributions to my dividend portfolio totaling $4,840 from when I was injured at the start of 2017. I also haven’t contributed anything to my Roth IRA for 2017 yet, so that’s another $5,500 that I need to come up with by April. I’m going to try to contribute $5,000 to this portfolio this year depending on when our contract gets finalized.

Here are all my other monthly Dividend Portfolio Updates if you want to catch up!

Leave a comment and let me know how January went for you! I look forward to hearing from all of you every month!

The post Dividend Portfolio Update: January 2018 appeared first on Live Off Dividends.

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I’ve made some huge changes to where my money will be invested this year. This post will explain what I was doing previously, currently and why I decided to make this change.

Starting Point

For most of you reading this you probably know a little bit about my current allocation. For those of you who don’t I’ll explain a little about it. Until February, I was contributing $440 out of my bi-weekly paycheck to my individual brokerage account, which I refer to as my dividend portfolio. I was also contributing $200 out of each bi-weekly paycheck to my 457(b) . 457’s are similar to 401k’s in that the contributions to these employer sponsored plans are pre tax. I also max out my Roth IRA each year but in a more sporadic fashion, but to keep it uniform it would average out to about $211 per paycheck.

New Strategy

My new strategy is dramatically different. I will be putting $0 into my individual account from my paychecks. This will change when I get a raise in July or when we finalize our new contract, whichever comes first. The new contribution won’t be much from just the July raise, but if the new contract goes our way it could end up being a pretty substantial contribution. Much less than $440, though. I will now be contributing $795 from each paycheck into my 457. This is the most that I can put in to reach the maximum of $18,500. My Roth IRA contribution will remain unchanged, it will still be $211 per paycheck.

My Logic

If you compare the two charts you can see that my total paycheck deduction will only be slightly different. In my old strategy I was “paying” $801 to invest $851. This $50 extra is due to the tax advantages of the 457 account. With my new strategy I will be “paying” $807 to invest $1,006. Again, this $199 extra is due to the tax advantages of the 457.

With my new strategy I will essentially be paying $6 more to invest another $155. That’s a difference of $4,030 per year. For this one change I will increase the amount I’ll invest this year by 4 grand! This will also decrease my taxable income. For example, if you made $30,000 per year and you put $10,000 into your 457 plan, you will only have $20,000 of taxable income, before other deductions of course. So making this change will net me $4,030 more this year as well as decrease my taxable income by $18,500!

This seems like a no brainer and it really is. I’ve always been a little apprehensive to make this change for a few reasons.

  1. My employer doesn’t match any of my 457 contributions. That’s a terrible reason not to take advantage of this account and I now see that.
  2. I wasn’t thrilled about the selection of funds that were offered to us. The tax advantages of this account far outweigh the slightly larger expense ratio than say a Vanguard fund.
  3. My take home pay is going to be significantly less. I believe this is still a legitimate concern but, not a reason to ignore these tax advantages. With my old strategy I could simply choose to skip a contribution if I needed some extra money. With the new strategy, I can cut back my 457 contributions but it won’t take effect immediately. This plays into the importance of having an emergency fund.

Another advantage to 457 accounts is that the money is immediately available, penalty free after you separate from your employer. This works out great for those of us working towards early retirement and financial independence. Moral of the story, always question your strategy and make the changes that will benefit you. I think it’s too easy to get stuck in routines and not explore other options. Let me know what you guys think!

Have you guys made any changes going into 2018?

The post My New Investment Allocation appeared first on Live Off Dividends.

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After sharing that we have finally closed on the three properties a lot of you guys had lots of questions about the deal and how we pulled it off. I’m going to do my best to answer all the questions that you guys had and hopefully provide a clear picture on how this deal went down! Of course, if you guys have any other questions feel free to reach out to me and ask.

Back Story

I keep saying “we” closed on the properties, when I say we I mean my father and I. We are 50/50 partners on the deal.

I think it’s important to understand a little bit of the history about the properties and between the seller and us. All of the properties are located in a small village very near to where each my father and I live. The seller lives a few hours away for about half the year and lives across the country for the other half of the year. My father has known the seller for something like 25 years. My father is a contractor/carpenter, the type of guy that can fix anything or even build a house from the ground up. Knowing this, the seller always hired my father to make any repairs or updates to the properties. This got to the point where my father was basically the property manager. I have helped my dad with “side jobs” for as long as I’ve been old enough to work and even before that point, really. Repairs to these properties always fell under that “side job” category for us both because we both got paid, of course.

There has been not entirely serious talk about my father taking over the properties from the seller for quite some time now. But, my father and my mother have two rental properties already as well as their home. My mother simply doesn’t want anymore properties as she has enough on her plate. My father didn’t want to take on such a responsibility on his own, so this talk of takeover has always been swept under the rug, until now. My father knew I would be the perfect partner for the deal so when talk of the takeover came back up past summer, I was all over it.

The Deal

The initial offer from the seller to us was for five properties, 11 units in total, this was May 2017. The negotiations took place between the seller and myself, that isn’t my fathers forte, so he left it to me. The initial offer from the seller for the 5 properties was $400k @ 7% interest, 0% down, 20 year term, he would be holding the mortgage. I negotiated down the price before he got me all the information I requested. We were down to $365k @ 6% interest, 0% down. I had some leverage to negotiate because I knew how badly he wanted out of these properties. He’s owned them for 40 years and was just plain sick of them. He’s also quite wealthy, so the income didn’t mean too much to him. He also knows what it would take to list the properties and sell them that way and I knew he absolutely did not want to deal with that. This deal was already looking much better at the new negotiated price, but then he got me the rest of the information I requested. This information included annual home owners insurance, how much we was paying per month in utilities, rent, water and sewer bills, etc. Well, two of the properties were so intertwined that they were basically just one property. They are side by side on two different lots, but all the services are connected. They also shared a septic tank and the taxes were outrageous. Not to mention, one of the properties needed a ton of work and the other needed a roof which the seller was unwilling to pay for. I took those two properties off the table. I told him the deal just wasn’t going to work out with those two properties included in the deal.

Now we were left with three properties, 7 units in total. After extensively running the numbers I decided that I thought this could work out for the right price. After thinking it over, his new offer was $250k @ 6% interest, 0% down, 20 year term, for the remaining three properties. I tried, believe me I tried, for $180k @ 4% interest with 0% down. Eventually, we settled on $210k @ 6% interest with 0% down, 20 year term. I couldn’t get him off the 6% ( better than the original 7%) but I did manage to talk him down $40k. I was happy with this and after explaining all the numbers to my father he was too. This must have been early June 2017 by now.

The Next Steps

Since we weren’t using a bank for this deal we all expected it to go rather quickly. By mid June we had established an LLC and were ready to close by our initial estimated close date of July 28. The seller is the kind of guy that just expects things to get done and wants to do things his way and not necessarily the right way. To top that off, his attorney is near the end of his career and was very sick throughout the entire process. Our estimated close date of July 28, 2017 turned into an actual close date of January 10, 2018. In the time in between three of the seven apartments went vacant and we got them ready to be rented and found new tenants as well, with our money and for no pay. Given the relationship that we’ve had with the seller, we knew that we would at least be reimbursed for the work and paid. It was a slight risk that we took I suppose, but we weren’t too concerned with it.

Closing Costs – $13,828.70

I wanted the three properties to have separate mortgages so if we wanted to pay one off early we would need a lesser amount of money. The split was $50k, $80k and $80k. All at 6% interest and 0% down, 20 year term.

Our total out of pocket cost including the cost of the LLC and the repairs that we made to the properties was $13,828.70. What that number doesn’t include is rent and the security deposits. The remainder of January’s rent that would be due to us as well as the security deposits were credited, so instead of receiving checks for that amount and paying more out of pocket we received no checks and payed less out of pocket. We decided this would be a little bit easier for us. Since my father and I are 50/50 partners on this deal it cost us each $6,914.35 to close on these properties. I personally think that’s incredible for three properties and I doubt I will ever see another opportunity like this again.

This spreadsheet shows the three properties referred to as North, East and South. North is a 3 unit, East and South are both 2 units. The totals are all annual numbers. This chart assumes a best case scenario with no vacancies and no repairs, which we obviously don’t expect. In a perfect world, we could net $20,407.00 per year or $10,203.50 each. We are planning to raise the rent of two units at the North house so that should help some too.

I’m really happy with the deal we got and I think with such low closing costs it was a pretty low risk endeavor. There’s a very good chance that we recoup 100% of our money in the first year.

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The post How We Acquired Three Rental Properties In One Day (And How Much It Cost) appeared first on Live Off Dividends.

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I’m happy to announce that we’ve finally closed on the three rental properties! It took forever and I’m happy that it’s finally over! There is nothing about the three new properties in this post but next month they will all be included. I’m excited to share all the new stuff with you guys. I’m also planning on writing a post soon detailing how we acquired the houses, closing costs, etc. I didn’t write a rental property post last month, but all the data is included with this one. The last two months have been great with the property, no issues whatsoever!

For 2017, it cost me an average of $215.85 to own/live in this rental property. To me, that’s great. Especially considering that’s less than my taxes would cost me if this house were a single family and not a two family. Having my first year (almost) as a landlord under my belt, I can say that it’s been great. I collected a total of $7,050 in rent so that’s essentially how much I saved vs. if I had bought a single family home. I paid $60.78 additional on the principal this month, as usual. Next month rent will be increased to $675 so I’m going to put that extra $25 towards the principal each month. I may increase the amount I pay towards the principal later on this year, but we’re negotiating a new contract at work so I’m waiting on a pay raise.

For those of you who want to invest in real estate but can’t afford a down payment or don’t want to worry about fixing things when they break RealtyShares may be a good option for you. It is an online investing platform that allows you to invest in commercial and residential properties with a much smaller investment than would be required to purchase real estate out right.

I started writing these posts with the intention of having the three other properties included within a month or twos time. Given that it took forever to close that simply didn’t happen. Going forward these posts should be a lot more interesting seeing as there will be three more properties included. Here are all my previous monthly rental property updates to date if you would like to catch up!

Save

The post Rental Property Update: December 2017 appeared first on Live Off Dividends.

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I didn’t post an update to my net worth last month but I of course, tracked it. I’ve been extremely busy with work (snow plowing) so I haven’t had much time for anything. I wanted to make sure I got the years end post out for you guys even though it’s pretty late.

My net worth went up quite a bit this month and last month wasn’t bad either. I can’t wait to share January 2018 with you guys!

For those wondering, I use  Personal Capital to help track my net worth and I highly recommend giving it a shot (it’s completely free). You can link all your accounts and it does all the work for you. It also gives you access to a bunch of really cool tools, like the investment checkup tool.

Personal

My home value stayed the same at $100,000.

My truck value decreased from $7,180 to $7,147. -$33

Total: -$33

Investment Accounts

Robinhood account increased from $47,709 to $49,700. +$1,991

Roth IRA increased from $15,282 to $15,434. +$152

457b increased from $8,100 to $8,710. +$610

NYS retirement account increased from $3,750 to $3,900. +$150

Total: +$2,903

Cash

My cash increased from $8,333 to $9,829. +$1,496

Total: +$1,496

Total

Total assets increased from $190,354 to $194,720. +$4,366

Mortgage

My mortgage decreased from $58,649 to $58,501.

Total: -$148

My net worth heading into 2018 is $136,219 up from $131,705 last month! This was a 3.43% increase!

The chart above shows my net worth month to month starting from January 2016. You’ll notice there are some missing months, those are all months that I failed to track. It’s interesting that my net worth remained relatively flat in 2016 until the end of the year, but in 2017 I had steady growth from the time which I diligently began tracking.

The chart above shows my net worth’s year over year growth. I’m extremely happy with the growth I’ve seen in 2017.

My year over year net worth increased by 80.10%! That is a $60,584 gain from December 2016 to December 2017. I can only hope to see this kind of growth by this time next year.

I have all my old net worth data dating back to January 2016. As you can see by the chart, I was spotty in recording it. I’ve found that tracking my net worth motivates me even further to increase it. So, I will continue to do so and track the results. Since I’ve began tracking my net worth again I haven’t had a single month where it has went down. Again, I can’t stress enough how valuable it is to track your net worth and Personal Capital is a great tool to help you do so.

Here are the rest of my monthly net worth updates if you want to check them out!

Age

I think it’s important to track my age and where I fall percentage wise in my age group as well. I’m 24 years old and my net worth puts me in the 97th percentile. I finally managed to break into the 97th percentile! That’s a pretty awesome achievement to me. It looks like I’ll be able to break into the 98th percentile before I turn 25! Also, here’s the link that I use to calculate that.

This post may contain affiliate links.

The post Net Worth Update: December 2017 +$4,514 appeared first on Live Off Dividends.

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