EscapeVelocity's Net Worth for January 2021


Assets Value Change ($) Change (%)
Stocks & Bonds $16,376,876 $825,980 5.31%
Retirement $1,345,606 $53,682 4.16%
Home $2,358,146 - -
Other Real Estate $361,000 - -
Cars $435,000 ($45,000) (9.38%)
Personal Property $0 - -
Business $5,000,000 - -
$25,876,628 $834,662 3.33%
 
Debts Value Change ($) Change (%)
Home Mortgage(s) $0 - -
Other Mortgage(s) $0 - -
Student Loans $0 - -
Credit Cards $0 - -
Car Loans $0 - -
Other Debts $0 - -
Total Debts $0 - -
Net Worth $25,876,628 $834,662 3.33%
*All values shown in USD ($)
Notes:
We had another extraordinary year. I made a record $4.97M in 2019 and, somehow, made $4.96M in 2020. I do not, however, expect this to continue and suspect next year will be 50% less. Of course, I said that about this year too, so . . . also, it looks like I made about 16% return on my money this year, which is obviously outstanding.

I am still on track to walk away from my law practice. That process will begin sometime between March and April, and then I don't know. It could take 1 month or 2 years. That means "Other Assets" could be high or low depending upon the outcome. We'll see.

The only other change this month is an annual 10% depreciation of my sailboat.

Comments

11/19/2021 7:57:36 AM sertra2002
Its' great to see a person with your net-worth and obvious commitments have the time and diligence to post on this site. I always like to read your comments with interest. I wish I could have a portfolio like yours, but doesn't most of the world:)! Keep posting and commenting. Wish you continued success and good health!
11/19/2021 11:58:09 AM auzzieyank
Always nice to see a UHNW individual here to learn from.
11/20/2021 12:00:28 PM EscapeVelocity
Thanks for your graciousness and kind wishes; I'm glad to be able to contribute a different perspective. As for me, it's been another big year (i.e., happily, I was wrong, as usual, in my pessimistic earnings prognostications above), but even bigger changes are on the horizon as I continue to wrap up my law practice (my primary source of income) ...
11/20/2021 12:00:37 PM EscapeVelocity
That is slated to occur in the next 4-5 months when I'll transition from "(egregious) wealth accumulation mode" to "(hopefully) stoic wealth maintenance mode," or whatever you call someone living off of dividends. That may seem like no big deal to some, especially with my having saved so much, but as an ordinary person I have no idea what it's like not to grow a business, earn money and continue to save; it's what I've been doing for a long time. Indeed, I wonder whether there's a kind of "hedonic adapation" to earning millions of dollars and then abruptly stopping. How will that *really* feel? I'm about to find out ... so while so many come here for insight on how to grow their wealth, I'm actually interested in how to transition the other way. Namely, how to confidently enjoy "the back nine."