12/10/07

First Entry

My goals are the following by the time I'm 40:

1. To have a liquid net worth, adjusted for inflation, of at least $1,000,000
2. To have a steady source of passive income that pays for my and my family's living expenses and increases my net worth.

I want to do this with as little work as possible. This blog will document my progress.

Here's how it is at the start:

Age: 25

My current income stream:

Part time job: $270 - $360 per week
Bank interest & stock dividends: ~$70 a year
Ad income: $0

Cash:

Savings account balances: $2,127.78
Scottrade cash: $317.92
Firstrade Roth cash (CAMXX): $100.52
Sharebuilder cash (BDMXX): $37.58
Tradeking cash (RUTXX): $3.17

Stocks and Funds:

Blackrock Enhanced Equity Yield Fund (EEF): $118.09
Janus Smart Growth Portfolio (JSPGX): $607.56
General Electric (GE): $74.46
Overseas Shipholding Group (OSG): $676.8
Reynolds American (RAI): $626.67
Royce Focus Trust (FUND): $130.34

Total Investments and Cash as of 12/9/07: $4,820.89

Liabilities:

Graduate school tuition: ~$9,000 this year
Commuting: less than or equal to $75 a month
Entertainment/gifts: ~$100 a month

My short term goals are to increase my ad revenue. My medium term goal is to generate enough income, without getting a full time job, to cover my liabilities.