Home Money Investment I grew my net worth by over $100000 in 2 years — here are 4 steps you can take today to do the same

I grew my net worth by over $100000 in 2 years — here are 4 steps you can take today to do the same

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Rule No. 1: Stop buying stuff, start buying assets.Neilson Barnard/Getty

  • The Money Wizard, who goes by the pen name Sean, is a 20-something blogger and financial analyst.
  • Sean is saving and investing his way toward early retirement.
  • Between April 2016 and April 2018, Sean grew his net worth by more than $105,900, to $233,194.
  • His best advice for others who want to build wealth: buy assets instead of things, prioritize your 401(k), track all of your spending, keep your investments simple.

Two years ago, almost to the day, I started my blog with a daring goal.

Not only was I going to talk about money, a subject that most surveys indicate is more taboo than sex, but in true obsessed-money-blogger fashion, I was going to publish my net worth every single month. Down to the cent. For the whole world to see…

Sound crazy? Probably. But I also felt like money was too hands-on to leave to theory. Without a real-life example, I’d be no better than the boxing analyst who’s never actually stepped into the ring.

At some point, I felt I needed to put my money where my mouth was. So, I started sharing everything — good or bad. I hoped this level of transparency would not only help others find takeaways for their own situations, but also hold myself accountable.

And… the accountability must have worked! From April 2016 to April 2018 my net worth grew from $127,259 to $233,194. That’s a $105,935 increase in two years!

But this level of precision provides another cool benefit. With detailed monthly records, I can pinpoint the exact actions I took to grow my net worth and the actions I took to hurt it. And then we can roll up those patterns to highlight the most important steps anyone can take to improve their situation.

So even if you don’t want to track everything down to the cent like a money-obsessed-OCD-money-blogger, here are the most important steps I took (that you can too!) to supercharge your savings.

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