The Beginning: Beard and Net Worth, Month 1

I have been inspired by J. Money at Budgets are Sexy to post my net worth for the whole world to see (which means the three other people who have ever read this blog up until now.) He has a great post detailing the rise in his net worth over the past 8 years. He’s tracked his net worth publicly every month since his very first post on the subject in 2008.

Now, since this is Beards and Money, I can’t stop at net worth. Gotta show you the beard, too. So in this post I’m going to lay everything out. What assets we have, what debt we’re carrying, and our net-worth goals. Then, I’ll show you the beard as it sits today. It’s a little frizzy right now from the cold, dry Prague air and a serious lack of conditioning from our inability to learn the Czech word for conditioner.

We’re starting from a pretty good place, with a much higher net worth than the average couple our age. That would be great, except for the fact that the average net worth of people our age is abysmal. So it’s a low bar. I’m also starting pretty far into beardom. I’ve had some form of beard or goatee for the past 20 years, but I have only recently started on the “yeard” journey. There is still much time to go.


My net worth

Ok … let’s start with the net worth. Below is a snapshot from our dashboard.

Net worth in numbers
My net worth according to I’ve hidden the individual account names for the obvious reasons.

Let’s start with the bottom line: $130k. Not bad. Like I said in the very first post, we didn’t make completely idiotic decisions in our younger years, and I got a little lucky with some of the bone-headed ones. The blog Money Relationship lays out the average net worth by age. Those in Mrs. Beard’s and my age group average a paltry $51,575 net worth, so we have an above average head start. At our current savings rate, we’re on track to breaking 7 figures by the time we’re 65 years old. Of course, we have different goals. We plan to retire within 10 years, which would put us somewhere in our mid forties. That means we’ll be upping the savings rate dramatically and hopefully watch that net worth number climb like crazy.

Our assets come mostly from our house and retirement accounts. We have an absolutely huge and fancy 5 BR, 3 BA house with a giant yard and 2-car garage in a fairly up-scale neighborhood. It’s worth about $240,000, thanks to good ole southern low cost of living. The investments are a little over $75k in a couple of different places, all tax advantaged. I also own some valuable collectibles that have sentimental value, which is why we haven’t cashed them in. They keep up with inflation, at least. No worse than gold bricks.

The largest loan we have is the mortgage. It sits at a little lower than $160k. I also have a car loan for an older vehicle for about $5k, and my student loans total an eye-popping $50k. We paid Mrs. Beard’s student loans off years ago.

We have three credit cards, but only one has a balance. It stands at almost $6k, but we plan to pay that off soon. Notice that stack of cash sitting up there. $12k in low-interest checking account. You guessed it. That credit card payment gets destroyed in a few days. There’s a big check in that cash balance that hasn’t actually cleared yet, as of this writing. Once it does, then we can say goodbye to credit card debt.

You might suggest just killing the car loan, too. That’s the plan, but it has to wait until next month. We’re living in Prague, Czech Republic right now for the next four months, and maintaining two households takes some cash. I’ll tell you that story some other time, but what I can say is it’s a pretty good deal. We’re getting paid to live and travel around Europe. Yes. It is pretty awesome.

So there it is. Now, what are our goals. I’ve already discussed the short term goals in a previous post. Here, I’m just going to lay out our net-worth goal for this year. By the end of 2016, we are shooting for a net-worth around $200,000. That sounds a little crazy, and it is a little ambitions. But I think we can do it.


Beard growth

How about that beard?

Does a long beard lead to increased net worth?
It’s in that awkward stage between a normal, well-trimmed, shorter beard, and complete badassity.

It’s gotten long. I’ve had a well-trimmed shorter full beard since about October of last year. In January I fully trimmed for the last time and have let those glorious whiskers grow nearly wild since then. My wife trims off the crazies about once a week, but otherwise I have done exactly what it takes to grow a beard. I stopped shaving.

Right now its in a kind of awkward place and has been there for a good month. I usually give up long before the beard gets to this stage and trim it back to business-friendly length. Since I’m hanging out in Europe for a while, I figured now was the perfect time to get past that awkward stage and reach supreme beard ass kicking awesomeness. For the quantitative folks, that’s 10 cm or about o.5 inches worth of beard. Let’s see where it is next month.

So what is my beard goal for this year? By the end of 2016, I will have a glorious yeard.

I plan to accomplish both goals by sticking to my Beards and Money principles: (1) I will continue to not shave, and (2) I will continue to not spend all of my money.

What are your goals?

The Beginning: Beard and Net Worth, Month 1

11 thoughts on “The Beginning: Beard and Net Worth, Month 1

    1. Dr. Beard says:

      That beard was Man-tastic. You are my bearded brethren, even if its now just in your soul. Love your 5-year lessons. I could write basically the same thing looking back over the past 10 years. I was going to change the face of my profession and become a star (even if in a very small niche). Now, I’m going to do what I do in the small ways I do them, and enjoy the more important, and often FREE, pleasures that having an awesome family and simple life provide.

  1. JMoney, looking good man, you have come along damn way since you started. It has just been recently that i started throwing all of my expenses together to see where i am sitting financially speaking. I dont know if turning 30 was what happened or getting married and soon to have a kid is the reason for doing it but i love it. Do you find that by running this website and keeping track of your networth you are getting overwhelmed in it all? Seems to me like the more i write stuff down and think about it the less i can think about other things even when its time to goto sleep.

    1. Dr. Beard says:

      Hi Frederic. When you first start getting serious, you can get obsessed. This is both a good and a bad thing. Good, in that you’re obsessed with turning your financial life around. Bad, because it’s hard to do that without paid work, and your time is getting sucked away by reading silly sites about beards and money, or about some guy with a Mustache, or some dude with a crazy mohawk. It gets back to normal, but hopefully not spendy normal.

  2. Congrats on following the MMM approach to saving, investing and getting out of retirement. All the best and good luck hitting the 2016 target of hitting $200K in net worth.

  3. I look forward to reading more of your posts throughout the year. Keep that beard-a-growin’, man. Also, what’s this paid to live and travel around Europe bit? Jealous!

    (Found your site via J. Money’s awesome net worth tracker list on Rockstar Finance)

    1. Dr. Beard says:

      There will be a beard growth update in a few weeks.

      Yeah. The paid to travel Europe deal is pretty sweet. I plan to write a little more about that in the next few weeks. I just passed Charles Bridge in Prague on the tram as I’m writing this! Heading to Berlin tomorrow. Actually, once you get across the Atlantic, travel IN Europe is really, really cheap. And, there are tons of low cost housing options everywhere if you know where to look (and stay the hell away from Paris and London, which are fantastically expensive.)

      J. Money is a rock star. This little blog went from a couple of page views per day to thousands in the matter of days because he’s promoted my stuff. Very grateful.

  4. How do you factor your student loans into your net worth? We are pretty similar in terms of current net worth, although my investments are a little more (I am older than you are). Do you just consider your student loans to be your debt and that is why you don’t put it in? Just wondering your philosophy about it.

    1. Dr. Beard says:

      Student loans are totally factored in. They are baked into the $215k “Loans” sections in the image. I have about $50k in student loans.

      See this paragraph above: “The largest loan we have is the mortgage. It sits at a little lower than $160k. I also have a car loan for an older vehicle for about $5k, and my student loans total an eye-popping $50k.”

      I have a lot of equity tied up in the house, which is why the net worth looks pretty big for such a small amount of investments.

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