Friday 11 February 2011

I'm a millionaire (again)

For the past few months I haven't been tracking my investment account balances daily, but since I have a day off work today and the Aussie share market has been doing well for the past couple of weeks I decided to look up the current figures. According to my "net worth" spreadsheet the bottom line using yesterday's close of business figures was $1.006 million.

I'm a millionaire! Again.

Last time my net worth was over AUD$1m was back in 2007. This time around it's also US$1m due to the strong Aussie dollar, so I suppose in that sense I'm even more of a 'millionaire' than last time around. But, given the massive hit my net worth took 'during the GFC' (putting it in the past tense seems to be tempting fate), it doesn't feel "real" this time around. Of course, with inflation and what-not, being a "millionaire" isn't quite the same thing as it was in the era of The Great Gatsby.

Depending on how the market goes for the rest of February, I might still be a millionaire in my 'official' end of months figures and have it appear in my NetWorthIQ graph ;)

There's still a long way to go to get back to my peak net worth, even further to go in "real" terms (adjusting for inflation), and I doubt I'll ever be quite as well off as I was back in '07, given how much closer to retirement age I am now. Then again, there's always the $20m lotto draw coming up on Saturday...

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traineeinvestor said...

Congratulations on rejoining the millionaire club. It's an impressive recovery from where you were at the bottom of the GFC.

Anka said...

i wish i could have at least a small part of ur money.i'm a 20 year old romanian girl...i lost my job my parents kicked me out of the house cause they couldn't afford me anymore :| and i live with a friend now but i'm afraid that's not gonna be for long i can't abuse.i don't have money to finish my college i'm looking for a job but nobody accepts me cause i don't have a college degree and the situation in this country is bad.worse than that i don't think it's i guess u're a lucky guy u have millions i don't even have an apartment to live in...i wish i could have my own dream is to have my own kindergarten but i guess it won't happen soon :( do u know any millionaire that could help me? said...

Anka -- a sad but slightly unbelievable story (I doubt your parents would kick you out of there house simply because they can't afford you - if you bought your own food it wouldn't cost them anything to let you stay at home).

You can't have part of my money, but feel free to get your own.

I lived at home while going to college (as moving out would have been expensive, and I got along fine with my parents), and my jobs while at uni included manual work in a factory, picking beans in a market garden for 60c an hour, and packing supermarket shelves at night for minimum wage. I eventually finished my first degree part-time while working.

If your goal is to eventually run your own kindergarten, I think the best route would be to study childcare or early learning at College while earning money doing baby-sitting and other minimum wage jobs.

The next step would be to work in a kindergarten for several years, working up to a team leader role, while studying a business course and saving up seed capital to start up your own kindergarten.

Wishing and dreaming isn't going to achieve much.