I have good news and I have bad news.
The good news: I beat The Hoff this month and my net worth went up!
The bad news: I’m still almost $3,000 behind my goal of pulling within $20k in 2011.
Here’s the slightly belated scorecard for the beginning of December, 2011:
I love beating The Hoff in the monthly races. In fact, I’m pretty used to it, as I’ve won 8 of the 11 months of this year. Even if it’s just by $150, it’s big win for me. Eat it The Hoff!!!!!!
But I’m still behind by $23k. I wanted to close the gap to $20k this year, and with only one month left that’s probably not gonna happen.
I also know that he’s gonna spend a lot of money on a wedding next year, but he’ll also get to start including his wife’s net worth and income in these updates once the marriage is complete. I sure hope his wife isn’t rich, or this race to $1 million could end about 15 years earlier than I expected it to.
Until the marriage happens, I do have one big thing going for me that The Hoff doesn’t have: my website is starting to make a little bit of money. I’ve pulled in a little over $2,200 in blogging revenue in the second half of this year (although I have about $2,700 of blogging expenses, mostly giveaways to you guys).
In 2012, I should be able to maintain the $2,200 per six months, and potentially even increase that amount if I work harder at generating income, or just get a lot more followers and make the ads space more valuable. I think I can realistically make something like $5,000 in profit next year from this little hobby of mine. Not too shabby!
The point is, I have two income sources and The Hoff only has one right now. So at least until he ties the knot, I should be able to continue my trend of beating the crap out of him every month.
A few more things about my net worth:
My Student Loan Keeps Double Charging Me
One of my student loans that I really hate has been double charging me for the last three months. Maybe they are reading my blog and think they are getting revenge on me by making me pay an extra $111 every month. Honestly, I don’t care. It just helps me pay it down faster. I’m not gonna call and have them fix it: I’ll just pay extra and get it paid off sooner.
I Need a Hot Stock Tip
Another place I could pull away from The Hoff is in the stock market. When 2012 rolls around, I’m going to have to start picking investments for my Roth IRA again. If any one of you out there has a hot stock tip, post it in the comments below. Maybe you’ll convince me that you picked the right company, and we can be investment buddies!
The Rest of the Story
Here’s the rest of my net worth story this month. The only big change is the addition of physical assets. This is the first time I’ve had any physical assets, which I’m holding in the form of junk silver. Yay for being prepared for the end of civilization!
Kevin McKee is an entrepreneur, IT guru, and personal finance leader. In addition to his writing, Kevin is the head of IT at Buildingstars, Co-Founder of Padmission, and organizer of Laravel STL. He is also the creator of www.contributetoopensource.com. When he’s not working, Kevin enjoys podcasting about movies and spending time with his wife and four children.
Great job on beating the Hoff again this month! Can you pull in an extra 3k in December? Better hustle really hard these last few weeks. 🙂
Probably not. I’m gonna have to accept the fact that I didn’t meet my goal, but at least I caught up some. At least a hope. Maybe he’s gonna hustle hard and hit $5k this month and drop me back to $28k behind… who knows?
Just don’t let the depression of not reaching your goal drive you to an alcohol induced buffet of burgers and tears and you’ll have the Hoff beat.
If I’m ever depressed, I just think about The Hoff’s embarrassing first round exit on dancing with the stars and I feel alright again.
I don’t have a great stock tip, but maybe you should consider some dividend stocks. At least you can get paid while waiting for the market to recover. I do like the dashboard.
I love dividend stocks. Especially in the Roth IRA where there are no capital gains taxes!
Great news on the blogging income! If I had to bet, I’m sure you can clear $5k next year.
Yeah, that’s really a low goals based on what I’ve done this year. I’m really hoping to clear $12k, or $1k a month next year. That’s my stretch goal.
Go with V or MA and INTC. You might not beat the Hof with these names but you will see groth, and its a long run thing, right? More speculative plays SD and MCP
The first three are interesting. I’m just a little scared because they have performed well this year. I tend to like purchasing the stocks that are beat down in hoping they will come back up. I’ll have to research the others.
Great job on smoking the hoff this month!
He cries every time I beat him.
Nice work on the win. These little monthly victories will end up helping you win the marathon.
Hey, winning 8 of 11 months is huge!! You’ll catch up to him quickly!!