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2007 PF Blogger Net Worth Comparison





There are a lot of lists around the blogosphere that compare blogger monthly earnings, unique visits, pageviews and Alexa Rankings.  However, I haven't come across a list that compares the net worth of personal finance bloggers. MDJ is going to change that.

Not all PF Bloggers openly display there net worth which is understandable.  However, out of the ones who keep their finances transparent to the public, here are the Dec 2007 rankings by net worth and age.

Rank Blogger
Blog
Net Worth
Age
1 Millionaire Mommy Millionaire Mommy Next Door $1,617,988  43
2 MM PF Blog $875,850 31
3 Sun  The Sun's Financial Diary  $614,716  35
4 FrugalTrader Million Dollar Journey $272,900 28
5 Pinyo Moolonomy $236,400 33
6 Lazy Man Lazy Man and Money $214,826  31
Jonathan My Money Blog $204,759 29
8 Canadian Dream Canadian Dream: Free @ 45 $201,300  29
10 MG The Money Gardener $131000 28
11 Flexo Consumerism Commentary $121,861  31
12  Mr. Cheap Quest for Four Pillars $94,912 32
13  Financial Blogger The Financial Blogger $41,800 26

It's not that the net worth of a blogger means a lot, but it's interesting to see where they stand relative to others in the same blog space.  It's also a tricky comparison as a lot of people calculate their net worths differently. 

If you have a PF Blog that discloses your (positive) net worth, let me know and I'll add you to the list.





113 Comments, Comment or Ping

  1. Arg! I’m the youngest… and the poorest! But give me a few more year (and a job change that might come soon) and I’ll surely go up the latter ;-)

    BTW, you can change your chart for 41,8K, this is what MS Money is showing this morning. The big increase resulted from an updated house appraisal I had made while I restructured my debts through my HELOC (you got your figure from the first post of the series but the real net worth can be found here) :
    http://www.thefinancialblogger.com/restructuring-my-debts-through-my-property-part-3/

    Now I feel better that I made an increase of 14K on your chart ;-)

    Cheers,
    FB.

  2. FB, yer still a young fella with lots of time to go. I’ll update the chart.

  3. FT,

    I suppose I should note that was my Oct net worth. I won’t calculate my Dec number until next week or so.

    It’s interesting to see the ages of everyone. I’m noticing a PF blogger trend of late 20′s and early 30′s. Oh, by the way I’m actually 29.

    I wonder how we would compare as a group to the general public given our ages for net worth. Perhaps that is an idea for a follow up post.

    Thanks,
    Tim

  4. CD, fixed the age. The info that I took was based on the last net worth posting. When you update, i’ll fix the list.

  5. I assume each individual tallied their net worth the same?

    Interesting to see the young ages listed. Great to see actually.

  6. Steve Winters, that’s the thing about the comparison, I basically took whatever the blogger posted on their site. Each blogger would tally their net worths differently, I for example count my vehicles (many disagree) others will add a tax liability. However, when it all comes down to it, net worth = assets – liabilities.

  7. Our net worth is between #13 and #1. CD, you can compare your net worth to other Canadians here:

    http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth

    MoneySense also had an article on this in the last few months.

  8. Interesting chart. It’s a great idea to put the ages since that’s just as important as the dollar figure.

    I’d guess that MM has the best “age adjusted” net worth – lots of $$$!

    Mike

  9. 10. Frog of Finance

    You can add me to your list. My blog is at http://frogoffinance.blogspot.com/

    Note that my net worth may look a bit on the low side at age 37, but I only list my personal net worth — I don’t include my spouse’s net worth in there (going as far as dividing the value of the house), and I use the city’s evaluation of our house (which understates the house’s market value).

    Cheers,
    Frog of Finance

  10. 11. just learnin'

    well, I know whose advice i’m taking now. (-:

  11. 12. Cross the River

    And once baby arrives, you’ll feel the richest.

    :-)

  12. I might be the one with the lowest networth. I am 29 and my networth is updated here.
    http://unequivocal.wordpress.com/2007/12/11/december-2007-networth-update/

  13. 14. Pinyo

    FT, I like this. Yeah, we all calculate differently. My number doesn’t include my house and mortgage, but includes my car.

    I just turned 34 recently and became a dad to a baby boy just about 3 days ago.

    Also, you can make it easier by ranking based on “net worth divided by age”.

  14. 15. Fecundity

    Interesting set to compare. Great idea.

    I’ll bet most of these people either posted how they calculated their net worth, or have a link to something like NetworthIQ on their sites. If you’re really interested in the differences, you could check them out.

    And don’t worry, FB. Your net worth is quite a bit higher than mine, and I’m older than you. :) Almost $42K by 26 seems pretty darn good.

  15. Fecundity, thx for your encouragement!

    However, I must admit that I am pretty impressed by MM’s net worth considering that we only have 5 years apart. I have to start working harder ;-)

  16. Great chart. I’ve decided not to disclose my net worth on my blog, because I have lots of friends and family reading, but I would be in the top four at age 28:)

  17. 18. David

    Dear MDJ and others,

    Do you count your mortgage as a liability against your assets when calculating net worth? I am not a blogger so my total net worth would be irrelevant, but I was curious as to how you calculate your figures. Discounting my mortgage, I would be in the positive, but counting the amount remaining on my mortgage, I have a negative net worth in the hundreds of thousands!

  18. David,

    Net worth = assests – liability, so yes you should count your mortage as a liability.

    As for my personal calculation, I actually leave out assests. I don’t include my car (which just loses value as time goes on) or other accounts that I don’t feel are really mine. For example, we don’t count my wife’s business account or my son’s RESP.

    Tim

  19. Tim, that is a good point. When I start my child’s RESP, would I count that? Would that account be legally mine until he/she starts going to school?

  20. FT, the bank will technically count your RESP. You can always withdraw all the capital invested plus the interest earned (beside the interest earned on the part of the gov and the gov’s participation) at any time.

  21. FT,

    Thanks for the link, and great idea for a post series. This provides further motivation for me to climb up the list…! I’d bet that we are all doing pretty well for our ages compared with the general population.

    ..MG

  22. By the way, check your spelling, and case on ‘the moneygardener’.

    Thanks.

  23. 25. HeMan

    Great idea for a post FT!

    I like Pinyo’s suggestion of net worth divided by age too.

    It would be interesting to know who is calculating their personal net worth and who is calculating their household net worth (ie. their partner’s assets and liabilities included).

    Statistics Canada has some wonderful stats. I also have some stats from a past National Post article. There was info on household net worth for 20′s, 30′s, 40′s, 50′s, 60′s, etc.:
    http://www.homoeconomicus.ca/wordpress/?p=14#more-14

  24. The RESP is legally yours right to the end. As to how to count it in net worth without your net worth taking a crash when they go to school, maybe you can have an offsetting liability (for school) to go with it.

    Or you can just leave it out :)

  25. 27. 1MansMoney

    If anyone wants to feel better about their net worth, our household net worth is only $27,174 (as of November). I’m 32 and my wife is 23.

    We’re working on it…

    -1MansMoney

  26. 28. Sun

    Thanks for including me in the list. I don’t include house and car related items (as assets and liabilities) in my calculation because I don’t know their real values. My assets are actually investable assets.

  27. FT,

    I just wanted to agree with Heman’s comment and say that this was a great idea for a post.

  28. I would like to request my net worth be added as well – thanks for the compilation.

  29. Very interesting idea, and well worth posting. It would be nice if you could force everyone to accept the same ballpark definition of net worth – primarily whether you can count your equity in your home as “net worth.” Personally I don’t think you should – you can’t get at it easily, you will still need a place to live and most people (except MMND) will probably never downsize their home and pocket that spare equity. If you took home equity out of the list, I bet a lot of the numbers would change.

    It’s also interesting to see the gap between #3 and #4 (which is where I fall, with or without home equity). I wonder if there’s a reason or just coincidence?

    And finally, too bad there aren’t more millionaires blogging! 1 out of thousands isn’t a great ratio, is it? It would be great if you could check back on everyone at age 65, wouldn’t it?

  30. Brip Blap, that is an interesting comment about home equity. I’m a believer in counting home equity as it is definitely an asset and can generate income if you borrow against it to invest. For me though, I don’t have primary residence equity included in my most current net worth as we are in between moves. However, when we do move, I will be putting my cash down on the house and reborrowing it to invest.

  31. 35. Telly

    Frog of Finance makes a good point about personal net worth. I would guess that most have indicated household net worth. I guess FoF & Mr. Cheap (and maybe others) are doing better than their numbers indicate.

    Anyway, it’s posts like this that make me envious of bloggers. Not that I would be overly impressive on this list but at least I would fit in. ;)

    As others have pointed out, I’d be a lot more curious to see net worth excluding primary residence. It’s much more meaniinful to me.

  32. 36. Rod Payne

    Glad to see that out of respect for the late Maurice “Rocket” Richard that you retired the use of the number 9 in your rankings! j/k

    I’m one of the general public, by the way, age 39, and I would fall roughly right into the midde of the pack, depending on how principal residence is treated.

  33. Interesting chart. You forgot two of the very best money bloggers, My Open Wallet and Boston Gal’s Open Wallet. At $350k-ish and $400k-ish respectively. Both bloggers are interesting to me because in addition to being entertaining writers, like a number of my friends they’re single, big-city women.

  34. Do you have a goal you’d like to reach for your blog in ’08?

    Martin

  35. 39. HeMan

    Another interesting thought is the exchange rate and country each blogger is in.

    By looking at the list of bloggers I’m certain there are at least three countries on the list.

  36. I will take note of the above blogs and add them to my next net worth comparison update.

    Thanks guys!

  37. 42. Jennifer

    Great idea for a post. I would love to be added to the list. My net worth is currently $385,625 at age 39. :)

  38. 44. DAvid

    Unlike some commentators here, I agree with including one’s home in their net worth statement. The value of the home can be used in a number of ways. It can be used to leverage investments, fund a CHIP withdrawal (scary), or as we see in my part of BC, folks do indeed cash out of their home, and downsize to less expensive places.

    I also agree with adding the depreciated value of other major assets to the mix, simply because they ARE salable should the need arise.

    DAvid

  39. I would have to disagree. I think the purpose of ‘net worth’ as it’s used in these conversations is not just assets – liabilities = equity. My refrigerator may be an asset with some selling value, but I hardly think that’s what people are thinking of when they declare net worth. If so, then you have to look at net worth as the resale value of all of your personal assets. I could sell my pots and pans for a few dollars, for example.

    When people say ‘net assets’ I think they think of assets that will be used to fund retirement (or financial freedom, etc.). If you are planning to sell your car and not buy another one when you retire, OK, maybe it’s part of your net worth. I’ll still say that for most people a house is a place to live, not an asset that can be sold and the gain realized. If you sell it, you still need a new place to live – and unless you relocate to a much cheaper environment or a rental, you probably have to use some or all of that gain on the new home. You can, of course, use it to obtain loans, but I’m not sure that qualifies the house itself and the unrealized gains it represents as an asset.

    Anyway, I don’t mind including assets in the calculation, I just think it’s hard to compare net worths when you don’t know if it includes net assets or not – which I think we all agree on.

  40. Brip Blap, I think you must include your property in your net worth calculation as you may use this equity to do several things (paying off other debts, investing in the market, buying a rental property, etc.)

    Also if you don’t take it in consideration, how would you calculate the following situation:

    Somebody that bought a house in Vancouver 25 years ago, paid down his mortgage completely and now have 1M$ dollar home free of debts? If this guy doesn’t have any other investments, you would say that he has the same net worth as any student living in an apartment?

  41. 47. yoda

    I agree with not counting your primary residence in your net worth. If you ARE leveraging, then count the leverage as your net worth/debt. Not the entire thing.

    Can you sell your house tomorrow? If yes, where will you live? Only rentals/second/third etc homes should be counted in your net worth (as they are added on as extras that are possibly liquid).

    Also, if you want to count your house as an asset, how about all the money/maint./bills that are paid into the house?? Why should they be sepearte? That’s like counting your stock portfolio without the commissions.

  42. 48. DAvid

    Actually, yoda, I could sell my house tomorrow! At one time in the past, I needed to do just that. I then rented an apartment a few blocks from work. It was the best financial move I could have made at the time. The equity I had in the house allowed me to pay out all my debts, and I topped up my lagging RRSP with the additional proceeds. The lowered costs of living in the apartment with all my needs at hand, allowed me to get back on my feet. Selling my current home and moving to a lower cost location is a very real possibility for my future, as there are many options open to me.

    Liquidity does not determine if an asset should be included in one’s net worth. For example, I count the contributed value of my pension plan in my net worth, even though I am unable to access that money until I reach at least 55 years of age. I would also count the value of large salable items such as RV, art, or jewelry, if I held such assets.

    The money, maintenance etc that I put into the house gets counted or not, depending if they add to it’s value. The new kitchen cabinets are an asset; the natural gas, an expense. Ans yes, I do count my stock portfolio without the commissions, as until such time as I sell them, I have no real idea what the expense would be.

    I think that anyone assessing their net worth should use generally Accepted Accounting Principles. Moneysense.ca has a personal net worth calculator at http://www.canadianbusiness.com/my_money/planning/retirement_rrsp/net_worth_calc.html
    that lists many of the items being discussed here. Why not have a look around and see what the generally accepted definition is. If everyone used the same measure, then the numbers we present and discuss would at least be comparable.

    DAvid

  43. DAvid, I would just make the comment that if you were able to sell your house the next day, you were in a far better market than most of the US now. If I wanted to sell my house tomorrow I’d have to sell it far below market (which would mean that my valuation could be much worse than I would estimate it if I could wait 6 months to sell).

    I have no idea how RRSPs work but US pension plans do allow you to withdraw your money before age 59 1/2 – just with a penalty.

    Liquidity doesn’t determine whether you are allowed to include anything in your net worth, true, but it does determine whether it’s reasonable.

    It’s really just a matter of opinion, not sticking to US/Canadian GAAP. If you’re calculating strict equity, sure, you would throw in everything. Not including your primary residence is simply a much more conservative estimation that many conservative-by-nature-personal-finance junkies would prefer to stick to.

    In any case, I think it’s sortof like arguing politics or religion at this point – if someone said “tell me your net worth including your house” I could and would do it. It’s not a matter of hard accounting rules, just opinion (in this case -we’re just discussing it on a blog), and my original concern was simply that if I don’t know whether someone’s doing that or not it’s a bit hard to compare the numbers.

  44. As I understand it (and FT confirmed) net worth is assets – liabilities and yes, technically you should count the dishtowels as assets!

    If you want to talk about investable assets from which you could draw an income from, then you would have to call it something else.

  45. I’m with FP, net worth is just that, assets – liability, not retirement assets.

    Yoda, housing expenses will count against your income as it will reduce your cash, thus affecting your overall net worth.

  46. So the numbers up in the list should include the depreciated net worth of people’s kitchen tables? How much is your book collection worth?

    Again, I would agree that net worth is assets minus liabilities but the common, easily calculated version of that which most people use when they say “my net worth is” doesn’t include all of those.

    If I include every last asset I own then I would have to say that sadly I have no idea what my net worth is…

  47. Brip Blap, if your net worth is on the larger side, will it really make a difference to the numbers if you include the smaller assets like kitchen tables/books etc? So yes, theoretically, net worth would include these things, I personally don’t include them as it wouldn’t make a big difference in my numbers.

    Perhaps we should come up with a different scale, something like “income producing net worth”. :)

  48. FP has a point. Technically you could count your net worth that way. In reality I treat it like a bank interview. IE: Would your bank consider this an asset when applying for something?

    So large items like house and car count, but good luck trying to convince your bank that your freezer is an asset.

    I think we have left the path of the reasonable person here folks. If you want to set up a second scale go ahead, but just don’t call it a net worth.

    Tim

  49. 55. telly

    Brip Blap, in Canada, RRSPs can be withdrawn at any time with no penalty (only withholding).

    I’d like to comment on the primary residence being added to net worth debate. I’m going to make a generalization but I believe it to be true more often than not. People that have seen a large appreciation in their home value have a much greater tendency to include their home in their net worth calculation. A few years back, many Americans included their home in their net worth calculations and were generally very proud of their numbers. With the current market conditions, a lot of people realize they were fooling themselves by thinking they were worth so much and now that prices have come back to Earth, so has their net worth.

    This is where caution is needed imo. If we were seeing RE increases of ~2% / yr I’d be more inclined to include that number in my net worth but with the current market conditions, and a potential bubble in many cities, I’d be less inclined to include my PR if it made up a significant portion of my net worth AND a large portion of it came from higher valuations rather than payments or deposits.

    I think this is becoming more apparent as people are having their homes appraised on a regular basis so that they can tell their friends “Our house is worth $X” yet they have no intention of selling.

    I don’t include my engagement ring or wedding band because I have no intention of EVER selling them. To include items such as these seems ridiculous to me.

  50. Technically, you should consider any tangible asset. By tangible asset, I mean something that you can actually sell and has an important value.

    To help you out, you can look at seizable assets. I don’t think a bank would sell your furniture our your wedding ring in order to pay off your debts ;-)

    However, your house is pretty interesting when it comes down to seize your asset!

  51. Telly – I used to think of my house equity as part of my assets or net worth until I sold it and bought a more expensive house. At that point I realized that it’s almost pointless to even measure the value of the house because it doesn’t affect your personal finances at all.

    I personally am a big fan of counting “investable assets” and I would only include the portion of my house that I was planning to downsize in the future.

    Mike

  52. Mike,

    Do you count your mortgage in your net worth? As it is a big debt you should. And if you are not counting your house, your are penalizing yourself big time.

    How about using your house value for something else than buying a bigger house? you can easily fit your house value as part of a financial plan (or a retiring plan).

  53. FB – I don’t really keep track of my net worth because it’s not an important figure to me. When I do calculate it I definitely count the house, both the value and mortgage.

    I do “use” some of my house value for leveraged investments.

    Mike

  54. 60. S. B.

    You will find my net worth on my site, but I only calculate and post it once a year.

    For those bloggers who post their net worth each month (which doesn’t include me), I believe there is a list of such that is updated each month over at the Enough Wealth blog.

  55. Nice idea with the table.

    I think that the “net worth = assets – liabilities” definition where assets includes the house and liabilities include the mortgage is sound. However, it is perhaps not terribly useful from a financial perspective. For instance a $100k net worth with $110k in assets and $10k in liabilities is much more impressive to me than the same with $800k in assets and $700k in liabilities. The latter was probably obtained by a lot of real estate speculators last year.

    I would be more inclined to use an equivalent of the quick ratio (acid test) which for personal finances would be = (total/taxable income – wage income) / expenses. If this ratio is above 1, then the person is financially independent. If the ratio is -1, the person is living paycheck to paycheck and if it is smaller, the person is going into debt.

    I would be interested in knowing people’s “quick ratios” rather than their net worth.

  56. It’s fun to be #1 on this list!

    In the book, “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko, there is an interesting calculation about real wealth. You can determine where you stand by entering your variables here:
    http://www.banksite.com/calc/wealth

    (Mine calculates to 3.7 times the desirable amount = Prodigious Accumulator of Wealth)

    Regarding including one’s personal residence into the net worth equation: If you read my blog, you know that in today’s irrational real estate market, I choose to rent rather than buy my home. Therefore, my net worth doesn’t include my home.

    In the strictest sense of the term “net worth”, one includes the current market value of their residence as an asset, then subtracts the mortgage(s) as a liability.

    BUT… unless you plan to sell your home some day (or borrow against it – perhaps with a reverse mortgage loan), you’ll eventually need to rent or downsize in order to use the equity asset. This alone makes home equity pretty useless in the wealth equation for many homeowners (IMO).

  57. I do not agree that net worth is the “current market value” of a residence. Net worth on a residence is, in a pure accounting sense, the carrying costs/cost of acquisition minus any liability still remaining to acquire the asset.

    Net worth is not an expression of market value. Market value is what someone is willing to pay for an asset; not what you think its worth or what your neighbors got for a similar sized home.

    If you ever read a formal appraisal on real estate, it doesn’t state “net worth of property.” It states market value and not net worth.

    Does this lead to houses which have been owned for 25 years being grossly undervalued on a net worth basis? Most likely. But the market value will be a lot more. I think the terms have been muddled.

  58. I’d like to be included. I do a monthly networth post on my blog. Here’s the post for last month.

    http://www.singleguymoney.com/2007/12/november-net-worth-review.html

  59. Though I’d certainly rank as the poorest on the list, I’d love to be put up next time you do an update. Here’s my last NW update:
    http://www.llamamoney.com/november-2007-net-worth/. I’d be in a distant last place but moving forward as best I can.

  60. When I set my public goal, I considered net worth, but rejected it since much of my net worth is tied to employee stock options and my company’s stock. Depending on my company’s stock price, I have seen my net worth move +/- $50,000-$100,000 in a single day, none of which has anything to do with what I blog about.

    Best Wishes,
    D4L

  61. 72. Grace

    OK, make way for a gray lady. Your comparisons could use some diversity, so this 58 year old latesaver offers up quarterly net worth statements. My last one is here: http://gracefulretirement.blogspot.com/2007/09/quarterlymonthly-review.html but there will be a newer once sometime this week.

  62. I disclose my networth in my blog here.

  63. 75. Amanda

    I am humbled by stars of the PF community :) One day I’ll make the list…

  64. 77. Anon

    Millionaire Mommy still needs to explain how she became a millionaire with such meager income.

    http://millionairemommynextdoor.blogspot.com/2007/08/how-i-became-millionaire-while-working.html#c5809545040430215623

  65. From my reading, Millionaire mommy started a small business, lived a frugal life, and invested their savings. Pretty simple formula. For more details, you’ll have to ask her yourself.

  66. 79. Anon

    I am saying that the income itself is insufficient to accumulate one million dollars at a savings rate of 100%. There is some aspect to the story she has not shared, and I for one would like to hear it.

  67. Anon, I have shared the details in my blog, although they are scattered throughout my posts and questions I’ve answered in my own comment sections. I’m not sure MDJ’s comment section (here) is the place for me to reiterate, so let me put together a detailed financial timeline and post it on my own blog soon.

    To summarize some of the main points:

    *I sold a couple of small businesses I had started (and invested the $)
    *We bought 2 bank-repossessed fixer-upper houses, lived in them while we made repairs, then sold them.
    *Built our last house, sold it, then rented a primary residence to live in so we could invest more $.
    *Earned approx. $30-40k/yr in our 20′s; $75-125k/yr in our 40′s.
    *Lived way below our means and invested our savings.
    *Invested without a broker, saving thousands in sales commissions.
    *My investment portfolio often outperformed the benchmarks.
    *Never wasted $ on interest and finance charges on credit cards.
    *Benefited from the astounding power of compounding.

    In other words, it wasn’t one big thing that made me wealthy – it was a combination of a lot of little things that add up. I hope this satisfies your curiosity a little until I have more time to piece together my timeline post.

  68. 82. Anon

    Sounds more like a series of high-risk investments (starting small businesses [presumably with borrowed money], speculating in real estate [more borrowed money], and hand-picking stocks or funds) that happened to have a good outcome than a careful and prudent savings plan.

  69. Left me off the list ;)

    BTW – I’ve been doing a monthly post listing the NWs of many PF bloggers for over a year. Check it out if you want to see how some have progressed over time. I only include those that update their NWs each month though.

  70. I keep a monthly update of my networth on my site and would rank in the top ten. http://divguy.blogspot.com/

    I also track my stock performance on my site as well.

  71. It’s amazing how many people choose to exclude primary residence from their net worth because they don’t plan on selling. Since when is the decision to sell part of the definition of “net worth”?

    There are people who have held and never sold Johnson & Johnson, Royal Bank, Scotia Bank, Coca-Cola, GE, Fortis, BCE, Encana or Procter & Gamble until their dealth bed, but I doubt they ever excluded these investments from their net worth.

    Owning your home is like wearing two hats at once: tenant and landlord. You simply pay rents from one pocket and put the money into another. Not that different from owning dividend-paying stocks where you accept dividend cheques with one hand, and buy groceries with another.

    Great post, by the way, MDJ.

  72. My Net Worth is posted on Networth IQ for all to see: http://www.networthiq.com/people/7million7years

    … goes to credibility for what I write about (wealth building).

  73. 89. JR

    “AJC said,

    My Net Worth is posted on Networth IQ for all to see:

    http://www.networthiq.com/people/7million7years

    http://7million7years.com/

    AJC, I could not find anywhere how you made $7 million in seven years

    What I saw on networth IQ was $0 to zillions from 2007 to now

    Would appreciate a quick run down on the holdings and investments that got you there, you know a kind on chronological timeline and the investments.

    Or simply link us to that page on your blog that shows it

    Thanks

  74. Networth IQ is just a snapshop (current NetWorth); I will need to update it soon, as I since sold a property and closed another business transaction. But, the details aren’t important … only the principles: I went from $30k in Debt to $7million in just 7 years … my readers can, too.

    http://7million7years.com/about/

    Thanks,

    AJC.

  75. 91. JR

    AJC said:
    “But, the details aren’t important … only the principles: I went from $30k in Debt to $7million in just 7 years … my readers can, too.”

    Sorry mate but the details are important, and the reason why is because you are a shining example of the MDJ.

    The approach or principles to an MDJ is one thing (each has their personal way of doing it that may not suit the next person), same as with the methods or tools that you used. What is really important is how YOU did it back then.

    Boast, brag, do whatever … come on AJC, give us the things that you did personally step by step (bit more details) that made you the multimillionaire you have become.

    A simple year on year, what you invested in, how you leveraged, when you bought & sold to increase your net worth, when you sold, tell us your MDJ on Frugals site. Maybe Frugal and others (me for one) can learn from aperson like yourself that has done the MDJ to the finish

    I read on your blog that you love to teach your approach and methods, so please, I beg you, reveal how you did it

  76. If it were simple EVERYBODY would have 7m7y :)

    Actually, the principles are simple: I used the income from Business #1 (my first small business) to fund everything else: I reinvested the ‘dividends’ from my new businesses/investments into (a) expanding existing businesses into new locations (b) starting new businesses, and (c) acquiring property.

    Where others might increase spending as they became more successful, I controlled personal spending, created zero personal debt, and delayed gratification (bigger houses, cars, etc.) until it didn’t make sense NOT TO (no sense confusing being frugal with being a miser).

    When I reached my ‘Number’ ($10 Mill. = $250k p.a. passive income) plus a (rather large) margin for error – after all this money has to last 50 years – I sold some of the businesses and properties to ‘gear up’ to reinvest in more ‘passive’ assets, which is the phase that I am in now (hence, so much cash).

    If you think about it, these are the EXACT SAME STEPS that every PF blogger writes about (debt free, save, reinvest) … I just multiplied the scale and was VERY CLEAR on my cashout $ and time.

    I don’t believe that any PF writer has made their money BEFORE writing or has written about it in this context, which is why I write (no ads, no products sales, no book … maybe one day).

    … now that you know my ‘secret’, GO DO IT ;)

  77. 93. JR

    AJC: thanks for that, it said nothing.

    Paraphrase.

    I made some money, took that money and made more money, but dont ask the details because there isn’t any.

    For a guy with zero and $30k of debt, my guess your MDJ doesn’t exist, its all a make believ until you give us the details … now go get to ite

  78. 94. JR

    AJC: thanks for that, it said nothing.

    Paraphrase.

    I made some money, took that money and made more money, but dont ask the details because there isn’t any.

    For a guy with zero and $30k of debt, my guess your MDJ doesn’t exist, its all a make believe until you give us the details … now go get to it

    Show me

  79. Your reaction whilst rude, is entirely understandable … I have posted a large number.

    Let’s recap: FrugalTrader gave an invitation for bloggers to post their Net Worth on this page … he didn’t ask for details.

    But, if there is real interest from others in how I made it (I can’t imagine why, other than curiosity), either:

    1. Follow my blog – as relevant topics come up, I illustrate with equally relevant personal anecdotes, where appropriate, or

    2. I am happy to guest post on my 7MDJ here or any other respectable PF blog with a wide readership (I have a Contact Me form on my About page).

    Keep in mind that people who write PF blogs usually write in semi-anonymity and get to pick how much they choose to disclose … usually for good reasons that have nothing to do with blighting their personal integrity.

  80. 96. JR

    AJC:

    Like you I am a guest on this blog, where you came to post your MDJ.

    It is not your blog (true) and as a guest of this blog whenever posters make remarks, make comments, boast or brags etc .. it is open to everyone to view and comment back, provide further input, even ask the odd question or two, if they desire to do so.

    To you I was simply requesting some details (for information & knowledge gathering) on what is was that you did in a high level, point-by-point (kind of a full bio) to get to your MDJ life story.

    I was shocked to get the response from someone as so rich, supposingly so talented, one that said they like passing the secret on to others, with remarks back …

    “if it were simple EVERYBODY would have 7m7y :) “, and
    “… now that you know my ’secret’, GO DO IT ;)”
    “Keep in mind that people who write PF blogs usually write in semi-anonymity and get to pick how much they choose to disclose … usually for good reasons that have nothing to do with blighting their personal integrity”

    BTW, you are correct on one point and that is Frugal did not ask for details, I did.

    Are you in the public eye, have you won the lottery, are you a fortune 500 person/company?

    ADJ, to me you are a secret. Are you so afraid of disclosing the details of your good fortune in the fear that others will get as rich as you say you are.

    Your blog : from zero to millions, beginning with $30k of debt

  81. FT,

    JR and I aren’t being very good guests … I apologize.

    BTW: my offer above stands if either you or another respectable blogger makes a request via my Contact Form on my About page. I’m not sure that it’s all that important, but the offer is there …

    AJC.

  82. 98. DAvid

    There’s folk here in BC who have a similar meteoric rise in fortunes. They buy some seeds, plant their crop, harvest, dry and sell their herbs, retaining enough seeds to replant. To save costs, they use remote pieces of Crown land which has had the usable timber removed from it (kinda doing some value-added work to it, I guess), so they need not actually add the land costs to their expenditures. Since their product is so popular, they sometimes find another individual has stolen their crop. At other times, they arrive to find various government agencies harvesting it on their behalf.

    These entrepreneurs generally tend to be reluctant to discuss their fortunes in a public forum, though they may show considerable bravado in certain circles.

    :-)

    DAvid

  83. 99. JR

    DAvid first. To plan, then carry out that plan, to fertilise, nurture and grow. then reap the harvest … simple, I have images of Revenue Canada or the IRS.

    AJC: we are fine guests here, thank you very much. All that needs to be remembered is what we learned in kindergarten or follow the steps of one of lifes philosophical teachers Dale Breckenridge Carnegie (read that somewhere). Life is simple for this old country boy, so is fortune building, as is lifes journey… one step at a time, as I rock back and forth in my chair (between that and the armchair) gazing and looking into space … thinking…..erm!

    I have taken the time over the past few days to read every single post on your blog AJC and there isn’t anywhere that I see posted that gives your MDJ

  84. 100. JR

    AJC:

    In the event that you have not read it, the following is one of my favourite posts on this thread … it could be yours or belonging to any of us.

    I give you … tralahhhhhh

    “Millionaire Mommy Next Door

    I have shared the details in my blog, although they are scattered throughout my posts and questions I’ve answered in my own comment sections. I’m not sure MDJ’s comment section (here) is the place for me to reiterate, so let me put together a detailed financial timeline and post it on my own blog soon.

    To summarize some of the main points:

    *I sold a couple of small businesses I had started (and invested the $)
    *We bought 2 bank-repossessed fixer-upper houses, lived in them while we made repairs, then sold them.
    *Built our last house, sold it, then rented a primary residence to live in so we could invest more $.
    *Earned approx. $30-40k/yr in our 20’s; $75-125k/yr in our 40’s.
    *Lived way below our means and invested our savings.
    *Invested without a broker, saving thousands in sales commissions.
    *My investment portfolio often outperformed the benchmarks.
    *Never wasted $ on interest and finance charges on credit cards.
    *Benefited from the astounding power of compounding.

    In other words, it wasn’t one big thing that made me wealthy – it was a combination of a lot of little things that add up. I hope this satisfies your curiosity a little until I have more time to piece together my timeline post”

    It would appear the fortune is small compared to your own AJC, all the same it is an MDJ

  85. OK then, I’ll do one for your blog …

  86. FT, I’ve done two things:

    1. I’ve posted my $7MDJ – there’s a tautology in there ;) – on my own site:

    http://7million7years.com/2008/04/25/my-7-million-dollar-journey/

    2. I’ve deleted my Net Worth from NetWorth IQ, so no longer ‘qualify’ for listing here :)

    I originally posted my Net Worth because my area of interest is blogging about building wealth, more so than saving/frugality … and, I wanted to show what IS possible.

    Now, by posting the first $7m7y journey on my own site, astute readers will (hopefully) see that it is all just common financial sense and is repeatable to a greater or lesser degree, by others.

    Proof: just see what Millionaire Mommy has already achieved … and how … not a great deal of of difference there.

    Thanks for opening the discussion! AJC.

  87. 106. MoneySheep

    Net Worth get talks alot. Most people means Net Assets, it is Assets less Loans. But ultimately what most people want is Net Wealth, the ability to earn sustainable Cash Flow; not what they can sell their Assets for.

    You may have a high net worth by owning hugh assets (such as hugeh-mongus Rolex watch or a hugh house) that no body wants but you. But I would rather have a sustainable income (indexed to inflation) for the rest of my life.

  88. 109. Late night Geek

    It takes time and a lot of dedication to become a millionaire

  89. 110. mei

    Can’t state enough how important the sacrifices that go into wealth creation are.

    Curious if anyone has caught this book yet? “The Richest Man in Town” by W Randall Jones. I’ve read half of it so far and let me tell you it is well worth it. Would like to hear what everyone else thought of it?

    http://www.richestmanintown.com

  90. Excellent site, keep up the good work

  91. 113. SOPHIEry26

    Buy essays or pre written essay and be insured you get all information about this good topic*.

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