There are a lot of things more important than one's net worth.
Recently, I volunteered for a coding workshop for girls, stopped to watch some pinwheels at dusk, took a long walk through Shelby Bottoms Park, saw the stunning work of fifty ceramists, and spent some quality time with my cat.
I would argue that all of these things are more important than my net worth, and yet, net worth overshares tend to be among my most popular posts.
As J. eloquently points out, “there’s something so captivating about watching people’s money grow (and decline) as the months tick by. It’s just as inspiring to watch them go UP, as it is when they go down – if only to show these bloggers are just as human as the rest of us.”
For those of us who enjoy a deep dive into someone else's bank account, I think it's safe to say we just want to know we're doing all right.
But how is “all right” measured?
Our incomes, careers, and long-term goals are not the same.
We live different lifestyles in an assortment of different cities.
For these reasons (and more) there's diversity in our personal finance portraits.
To Overshare or Not To Overshare?
Now that most people in my life know this blog exists, I've questioned the value of being so candid with my finances.
Does it really matter, and more importantly, does anyone even care?
Personally, I learn a lot from looking at other people's net worths. They offer a range of benchmarks in which to set my own personal finance goals and I appreciate having the curtain pulled back on an otherwise tight-lipped topic.
So, without further ado, here's my fifth net worth overshare:
The solid jump in my net worth over the past quarter that can be explained by a few factors:
1) A couple of years ago, I stumbled upon a Vanguard study explaining how dollar-cost averaging just means taking risk later.
Ever since, I've committed to maxing out my Roth IRA with $5,500 early each year. It's an incredibly low maintenance, set it and forget it strategy.
This portion of my portfolio is 100% index funds, and its strong performance mirrors the overall stock market.
2) My side hustle has really helped me step up my savings over the past three months. Being frugal can only get you so far. At a certain point, it's crucial to find ways of generating additional income.
There's no doubt a side hustle can be beneficial, but how much side hustle is too much? I'll be finding out in the coming months.
3) Nashville's real estate market continues to explode. Our housing inventory is the lowest it's been in eight years and the transplants keep arriving.
With major residential developments happening on nearly all sides, it's hard to see the point of restricting my .75 acre inner city property to just one dwelling in the future.
Readers: Does net worth matter to you?