Let’s get the inside scoop on a bogan’s net worth after a volatile 2017 financial year!
FY16 Closing Net Worth: $43,130
- Own one property worth $150K, renovated but not revalued
- Had just paid deposit for second property in late June
- $135K debt
- No shares
- Net income from job: approx $53K
FY17 Closing Net Worth: $94,350
- Own two properties worth $440K, both renovated and revalued
- Rental income of $26K
- $380K debt
- Share portfolio of approx $27K
- Dividend income of ~$0.5K
- Net income from job: approx $52K
This really pisses me off because it’s only just short of a thousand bucks a week.
Most of the gains were from the boost in value of my properties thanks to my tight reno skills. In the end, my net worth increased by 118% from where it was a year ago.
I have certainly lost money on shares this year though – I’m still fine tuning my strategy. I plan to substantially grow my dividend income in FY18 which will be nice, cos I like money.