Latest responses to “October 2008 - Net Worth Update and Personal Finance Status” Copyright 2013, MoneyBlueBook.com 443700 2008-12-26T12:57:12-08:00 Patrick Bateman I have to say, I don't really understand how you average $50k a month? Can you please show a greater detailed breakout? By the way, I work in real state and live in DC. I own an investment property and looking to purchase more with my partner. Let me know if you ever have any quesitons. -PB 443740 2008-11-17T14:01:51-08:00 caleb Ray, I've read some of your other posts. It seems like your current "temp work" on a contract basis brings in a higher income than when you were full-time. Is this right? I am in a similar situation as you, except I don't share your credit card fetish. Late 20's, and after 7 years of my current "career" the high pay and benefits still don't justify the cost in freedom and life enjoyment. However, there is no "temp work" contract basis for my line of work (military), nor is there overtime pay. Like you, I'm here more out of "I wasn't sure what I wanted." I suspect the natural entrepreneur types don't know they are natural entrepreneurs until they've been disenchanted in one profession or another. I've had doubts about leaving a well paying job, so I find it encouraging to see someone who makes even MORE than I do choose to leave their career for something any high school kid can do (blogging). 443770 2008-11-16T22:23:52-08:00 Raymond Caleb, While my blog income continues to grow bit by bit, a sizable chunk of my income still remains my real life legal practice. I believe in the importance of diversifying my income sources and not relying solely on one method of income generation. I may get into the individual financial breakdowns in a future blog post. I know the idea of transitioning from the working life of an attorney to an online entrepreneur may seem rather odd to some, but the future prospects of the latter are much more substantial, albeit fraught with greater risk. Of course, the current professional transition is easier for someone like myself since I have a finance and computer programming background. I only went to law school because I couldn't figure out what to do with my self after college. 443780 2008-11-16T14:47:05-08:00 caleb Raymond, Could you please give a breakdown of how much of that monthly income is legal, blog 1, and blog 2? Could you also do a post about how you transitioned from 9-5 employee to your own legal practice? Both the "why" and "how"? You would be the first blogger I've read to have done such a thing successfully (and the blogged about it for some strange reason). 443710 2008-10-31T12:55:46-07:00 Andy $53,000 a month! Wow, that puts you in the top 0.01% of Earners globally. If you can maintain that level of income, you should be a Millionare sooner rather than later, well done. The stock market will bounce back as well, something i am sure you are looking forward to. Will check your site to see if you have any posts on how to set up a succesful online business, if not hope you write one in the near future. 443810 2008-10-27T00:14:10-07:00 Raymond Hi EC, Unfortunately, I've already tried the cooking route. While cooking for oneself is not out of the realm of possibility, the time and effort involved simply is outweighed by the convenience of eating out in my case, unfortunately. Shopping for groceries and making sure the fresh veggies and fruits don't expire on me is a tough task! I guess I see it as a tradeoff...I'm merely outsourcing what I'm bad at (cooking and creating edible dishes) for something I'm much better at (making money and running my job and managing my businesses). I know it's not the most frugal solution as dining out is terribly expensive, but perhaps things will change if I ever settle down with a family one of these days. 443800 2008-10-26T12:58:37-07:00 E.C. Being a single guy doesn't mean you are doomed to being a lousy cook. You can choose to spend your money on prepared food and eating out as you see fit, but if you spent a few hours learning to prepare some quick, tasty, and nutritious dishes you could probably enjoy eating in a couple more times a week and rake in the savings. You may decide that this isn't the best investment of your time and energy, but please don't convince yourself that you are helpless to change your food spending if you wanted to. 443790 2008-10-24T22:04:40-07:00 Lokes I did not get the idea of using multiple credit cards. Thanks a lot. After reading this article it stricked me to possess multiple credit cards to maximize savings and to get the highest spending rebates for all the different types of purchases. 443760 2008-10-23T23:01:59-07:00 Raymond Unimax, Well, I suppose theoretically I could check Kelly Blue Book for the fair market value of my continuously depreciating vehicle everytime I update my networth report, but frankly I don't place too much stock into car value as a major factor of net worth to begin with. The only reason I even include the value of my 2004 Honda Accord EX-L into networth calculation is due to its high comparatively high resale value in relation to other personal property I own. However, I think checking Kelly Blue Book every 3 months to update the vehicle's market value should be more than adequate... The last time I actually checked was a few months ago but I doubt it has depreciated all that much during that time period. 443750 2008-10-23T18:25:02-07:00 unimax how often do you plan to check kbb for your car value?