Welcome to my blog, this is a journey, one of learning from previous financial mistake and ultimately making the leap into positive net-worth and livable passive income.
Below is the breakdown of my current situation as i embark on this self recovery journey, i will be providing monthly updates as to changes to my financial health.
Checking/Savings Account = 1000
401K = 9070
IRA = 5000
Etrade Investment Account = 5200
Home Value = 195K (*conservative estimate since Zillow estimates at 209K)
Cars (1994 Benz SL500; 1998 Lexus ES300) = 17000 Collectibles (Rare Silver coins) = 5000
Watch Collection = 5000
Mortgage = 187K
Student loans = 13,500
Unsecured debt = 54780
Current Net-worth is in the Negative
Anticipated goal in 3 years is to have a current Net-worth of at least 50K
Ultimate goal in 5 years is to have a net-worth that runs into hundreds of thousand and a passive income of t least 2k/Month.