Saturday, October 6, 2007

Blog of the week: Sistah Ant

Blog of the week this week goes to a blog I just recently noticed: Sistah Ant

Her recent blog post 'Watch & learn' talks about how you can learn from some financial bloggers.

I have to say that having a PF blog over time seems to definitely help you learn tips & tricks about finance. It also helps keep you motivated whatever your goal may be because usually other PF Bloggers have either gone through what you're going through, been through worse circumstances than what your going through or have already achieved some financial goals you dismissed as simply wishes.

One example that sticks out in my mind more and more is MM at the old-school PFBlog. One of his first posts was this one back in 2003:

This is a personal journal to track my progress to accumulate enough wealth to retire by 40 (Year 2016).

I start to keep track my personal finance in June 2002 when my net worth was around US$47k. By my current estimate, I need to have a net worth of US$1,000,000 to comfortably retire with my wife back in China (my home country) and experience my other interests. I believe this goal is achievable with hard work, discipline and smart personal finance management.

I plan to analyze my progress at least monthly, and write down day-to-day thinkings about personal finance issues regularly. This should be a good journal for anyone who is interested in accumulating a meaningful moneypile from scratch.

Now it's 4 year's, almost 5 year's later and this is his most recent update :

September is an exciting month to say the least. After the stagnating performance of the general stock market in the last three months, it finally rallied in the month and helped our portfolio to book a monthly gain of 3.7%, a record in itself throughout our systematic tracking of portfolio performance in the last two years.

The result: almost $40,000 addition to our net worth tally, boosting our month-end net worth to $832,745.

It is fair to say that we are now in the 8th inning of our multi-year quest for a seven-figure nest egg since the inception of this blog. After we broke the $400,000 mark at the end of 2005, it took us 8 months to gather the 5th $100,000, 3 months for the 6th, and 5 months each for the 7th and 8th. In other words, we more than doubled our wealth accumulations from our first 30 years of life in two years. If we follow the historical pattern, we will likely be able to finish the game with $1,000,000 in our bag in less than 12 months' time from today.

That's right, in about 5 years he and his wife have grown a Net Worth of $47K to Over $800,00! Making $39,000 last month alone. Just goes to show you what some goals and a lot of elbow grease can do. I'll be watching & learning from multiple blogs such as Sistah Ant's but definitely the PFBlog for at least the year to come.


Sistah Ant said...

hey there, reggie, i've been a lurker here for a few months - thanks for highlighting my post! that guy's progress is amazing. it just reminds me that the whole concept of retirement is to put enough money together so that your money works instead of you.

Reggie said...

No problem Sistah Ant,

Yeah, passive income is what I'm becoming focused on - so my money can do the work.