Welcome
By Matt - Monday, September 4th, 2006
Hello and welcome to the site, my name is Matt and I’m 29 years old and this site has been created to chronicle my goal and my progress towards it. The goal is pretty straightforward:
To have more than 1 million dollars in liquid assets by the time I hit my 35th birthday.
The thing is I’m currently in debt and my knowledge of investing and making money is very limited, it has to be if I’m still in debt. So this site will be my sounding board for all that I’ve learnt and my progress. I figure that there are a lot of people like me who are in their mid to late 20s with nothing but a big burning hole in their pockets to show for it.
Now that you know my goal I think you should know what I intend to do to achieve it, first off I need to get myself out of that debt hole that I’m in. This won’t be an easy matter since it’s in the magnitude of $41,300 not including money I owe to my parents. To top this off I’ve got only a few assets approximately $1500 in mutual funds and about $500 in stocks of one sort or another plus $35,000 in a locked in pension that I can’t touch. So as you can see the beginnings of my goal are simple I need to get out of this hole. But on top of that I also need to learn a lot more about investing and figuring out how to increase my assets and have some of my money start making money for me. The good thing is that I do have a decently paying job ($75K per year), which will allow me to get a start on this.
This is my journey to start making money and to learn how to invest. I intend to hit my goal of a million in liquid assets (and just so I’m clear liquid assets to me are assets that can be turned into cold hard cash in a matter of days so it won’t include cars and houses or anything like that). Wish me luck!
Tags: Money, Goals, Assets, Debt
This entry is filed under News/Misc, Budgeting and Planning.
5 Responses to “Welcome”
1 Matt says:
September 5th, 2006
at 5:51 pm
Hey, it looks like you have your work cut out for you. Good luck on it, I look foward to seeing how you do it and mimicing your exact moves, haha. Seriously, though, good luck.
2 Matt says:
September 6th, 2006
at 1:12 am
Thanks I do, but if I don’t set a goal worth trying to achieve with all my might I might give up or loose my motivation. The larger the goal the more effort I’ll put in to get it!
Thanks for the luck (I’ll probably need some of it)
3 Medicated Money says:
October 8th, 2006
at 3:04 pm
Hey Matt,
Just found your blog from the comment that you left at NCN’s blog!
After reading a few posts, it looks like you caught the “get-out-of debt” bug as well. Good luck in reaching your goal, and we look forward to reading more in the future!
-Medicated
4 70 Tidbits and Tips on Personal Finance - The 109th Carnival of Personal Finance - “First Post” Edition » says:
July 16th, 2007
at 10:53 am
[…] Net Worth VS Cash Flow from To One Million and Beyond. Matt compare and contrast the difference of net worth and cash flow. Matt’s first post: 9/4/2006. […]
5 Frustration with my Finances | One Million and Beyond says:
May 13th, 2008
at 9:38 am
[…] When I first started writing this blog I was in a pretty rough financial situation but things didn’t look all that bad because I was making a pretty good salary at $75K per year. A few months after that I took a 33% pay cut to take a great opportunity which meant I was down to making $50K per year. I have to say that as a result of this the year was a difficult one but I was able to cut down on my expenses and slowly, very slowly, cut down my debt. Since I was let go from that job in February I started my own business and I took a full time contract where I’m responsible for a greater aspect of my money (such as taxes). The good thing in this setup is that I have more flexibility and the potential to pay less in taxes. The unfortunate item is that I’m making less still (Now I’m at $30K plus a great commission structure). […]
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