Total Net Wealth Update End May 2019

in #money5 years ago (edited)

View this post on Hive: Total Net Wealth Update End May 2019


I've moved to Hive, along with most other people, following Justin Sun's takeover of Steem in the Spring of 2020. I believe hive is a lot more decentralised than Steem!

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You had a good month

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Wow. I don't know how fulfilling that amount is in the UK, but here in Nigeria that would be a worthwhile testament to a life dedicated to a honest living 🙂 So I'll say, congratulations. For some context, my dad is about to receive 1/4 of that as gratuity for working 35 years as a nurse. And he's just been getting by the past 3 years (after retirement) waiting for this HUGE settlement after working so long. Credit to him though, he built a house, if that counts as an asset 😂

Here in the UK that'd cover my outgoings for about 4 years if I'm careful. A pension pot of £250K would be regarded as just about liveable on!

Just goes to show how grossly unequal the world remains.

Building yr own house is a real achievement - I don't count mine as an asset as I have to live in it - and it's property prices that keep a lot of people grinding away here.

Must be a great time for yr Dad - used to getting by and now about to come into some money - that's a great place to be!

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Good idea to have a clear overview of what is performing well and what is not.

I did a spreadsheet last night and am in positive territory which was a pleasant surprise. 🙌

U+R

Good to hear! Always nice to be on an upward trend!

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Things look to be in order and going the right direction! I need to eventually do this but waiting for a significant event to motivate me to do so; like pay off another mortgage or something. Maybe end of the year to start a new year with a new perspective?

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I don't blame you - If I knew I'd had a bad month or two I probably wouldn't do these - so much easier when you're on the up!

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This is quite interesting. I also keep track on a monthly basis. I have a basic budget to follow as well. It's not as detailed, but if I don't meet my target 2 months in a row I punish myself by forcing details. It hasn't happened in years. Technically, I must share my wealth in two. Also I factor in age. For example 10,000 in savings is worth a lot more in your early 20s than it is in your late 50s.
In my case, I want 2 million between the two of us, not including state pensions. It may be difficult to get to, but a couple can easily live of 25000 USD a year here in Korea unless they have huge debts or wish to live in a fancy area or give tons of money to other family members.

That's an interesting strategy - punishing yourself.... i might have to try that.

I was completely obsessed with saving up enough to fully retire a few years back, however now I'm not working full time anymore I've relaxed a bit as working part-time in different jobs is now O.K!

I'm aiming for about $10K a year to live off, with my house fully paid off - that'll buy my basics - someone described it to me as bread and milk rather than wine and caviar... If I want the later I'll just have to go earn some more!

I hear what you're saying about basically factoring in compounding interest. I don't do that myself. Then again I'm 46 in July, my TPS kicks in when I'm 60, it's not really something I need to worry about, any compounding is a nice bonus.

I do love wealth tracking, at least when things are going well!

10k makes a lot of sense and sounds about right. If you own a little property and can grow a summer garden and nice views, it will be fine. If you live in the city it will be miserable I imagine.

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