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First Ever Net Worth Report



Well it’s the moment you’ve all been waiting for, I’ve finally decided to post the Eyes on the Dollar Net Worth. I’ve seen some other bloggers who do this, and it usually inspires me to do better myself.

I use a spread sheet in Google Documents to track our net worth so I don’t have to do any math. Determining net worth is easy. Add up what you own.Then, add up what you owe, and subtract the difference. Don’t get discouraged if you don’t come up with a positive number. We had a negative net worth for a long time. As long as you are moving toward positive, that’s the important part.

I don’t expect that anyone else should have the same assets or liabilities that we do. Personal finance is personal, and everyone is at a different place in their journey. We all have different goals and time frames to achieve those.

Let Me Explain


A few points before I share the numbers:

  •  Yes, we probably have too much in cash. We have rentals, and something major could always need repair. I also sold a portion of my business this year, and I’m not sure what the tax burden will be just yet. After tax season, we will likely put some of this into a brokerage account or use it for a down payment on another rental.
  •  Our retirement accounts probably seem low for our age (39 and 43). This is because we screwed around early in our careers and didn’t max anything out. We have also used our money for buying my business and purchasing real estate. We are hoping to create enough rental income to support us when we stop working to pay the bills, hopefully long before age 59.5. Also, Jim should get a pension if the state doesn’t go broke at some point.
  •  All real estate values are based on comps in the area and recent property appraisals . Zillow rated the values way too high in my opinion.

 Eyes on the Dollar Net Worth as of October 10,2013


  •  Cash (checking, savings, money market accounts) $53,741
  •  Retirement (IRA’s 401K, 403B) $172,278
  •  Taxable Brokerage Accounts $4,177
  •  529 College Savings Account $4,870
  •  Daughter’s Roth IRA $5,515 (Do this and the 529 count toward net worth?)
  •  Optometry Practice $300,000
  •  Commercial Office Building $275,000
  •  Primary Residence $375,000
  •  Residential Rental $80,000
  • Flip House Project $100,000 (This one is an unknown. The house is close to done but has no flooring or appliances currently. I believe with it’s location, it would sell for this amount if it were listed as is. Hopefully by the next update, this will be off the books.)
  • Vehicles $25,890 (From Kelley Blue Book)

  Total Assets $1,242,730


  •  Home Mortgage $157,501
  •  Residential Rental Mortgage $46,379
  •  Commercial Building Mortgage $202,638
  •  Flip House Loan $87,000

  Total Liabilities $493,518

 Net Worth $749,213


This makes me happy and sad. Despite paying off all consumer debt and student loans over the past few years, we still have almost a half million dollars in real estate debt. Good debt or not, I wish it was lower.

My other selfish reason for posting net worth is to inspire us to work harder. Whether a million dollars makes you rich or not, I really want the 7 figure net worth, and as of today, I’m joining J$’s million dollar club. I’m setting the goal of reaching that within the next six years.

Million Dollar Club

If we can knock out all the mortgages, while continuing to invest in our IRA’s and brokerage accounts, we should be there. Since Jim’s 401k and 403b plans are not that great, and there is no match, we see no need to try and add to those at this point.

I probably won’t post net worth that often, and I may take this post down if it feels uncomfortable. I’m curious to hear your thoughts.  If you must throw stones, do it softly.

Have you tracked your net worth? Why or why not?

About Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.


  1. Looks pretty good to me! I’m digging the commercial office building. When did you get that and how’s the turnover like?

    Drinks on Kim?!

    • It’s not as wheeler dealer as it sounds. That building houses my optometry practice, which has been there since 1941, so we’ve had no turnover. I guess it could happen if I manage to sell the practice, but it’s not likely.

      I bought half in 2005, and the other half just last week!

  2. That million $ club is such a cool idea. I get itchy with too much cash as well, but in your situation would keep quite a bit at hand. If you follow J$’s thinking your daughter has a $10K nw but I think I would put it as part of mine like you did.

  3. Good luck on the millionaire $ club! As you say, that is maybe a little too much in cash (5% net worth may be more appropriate in this low interest rate environment). Its good to share. I’m thinking of doing the same thing at the start of 2014 as part of my goals. Good luck!

    • Everyone has been so positive. I almost had a panic attack at 10:30 last night about this going live, but I’m glad I shared.

  4. Awesome, Kim! At least getting rid of the flip house will take the RE liabilities down to closer to $400K, which feels like a more manageable number.
    I love how diversified your RE is, too =)

  5. You’re doing pretty awesome Kim! I can understand your feeling about the cash, but I believe you’re right in your thinking in regards to why you have it that way. We’re similar in that we have a sizable cash cushion as we never know what’ll happen with the business. Keep up the great work!

    • It is scary to hold all the cards with a business, but it’s been a really good decision. I would love to see your thoughts in the future from running your business after you’ve been doing it for 13 years.

  6. Woohoo gotta love the million dollar club! I am (very) far from 1 million but I think it’s a great initial goal. Considering you have three properties (or maybe four?) I wouldn’t feel bad about 400k in real estate debt. That number seems low for the number of properties you own.

    • I guess when you look at it that way, it doesn’t sound so bad. We could never buy these properties with cash, so I guess the debt is a necessary step in the financial plan. Financing the practice, the first half of the building, and our house at around the same time was crazy scary, but we are beginning to come out the other side at this point, and it seems like it was the right idea.

  7. Holy cow! Nice work Mrs Millionaire (I’m going to just count the assets). I didn’t realize you had that much going into real estate. Do you have all this setup under your own name or an LLC?

    That’s cool that your daughter already has a Roth IRA. You don’t have to count it for a 529 because technically she doesn’t have to cash it in until 59-1/2. If you just invest it in an index fund, can you imagine what the value will be in 55 years???

    • My practice is an S-corp, but we don’t have the other real estate in an LLC. Once everything is paid off, I think that would be a smart move, but it seems like a big deal to try and put things under a corporate structure with a mortgage, but I haven’t really tried that hard either. We do keep a large umbrella policy on the residential side and a large liability policy on the commercial.

      Yes, and that’s why we did it. If she drops out of school to follow the Jusin Bieber comeback tour in ten years, we’ll just keep that money for ourselves.

  8. Kim, I think you guys are doing terrific!!! Sadly, not very many families in America, percentage-wise, can say they have a net worth of $750k. In fact, I just looked up an article in the NY Times that said that as of 2010, the average American family’s net worth was $77,300. Even we, in our current pathetic financial state, are doing better than that. You guys are kicking it, girl. Kudos!

    • That number is not that surprising. I can see how people live in the cycle of monthly payments and are house poor. We’ve been pretty lucky with our real estate purchases, and it’s cheap to buy here.

  9. Impressive….you actually aren’t that much far from hitting the million dollar goal. You might actually hit it way before the six years are over now that you have a very public commitment!
    I track my numbers as well, well, they ain’t as healthy as I would wish them to be but, this journey is a marathon, we’ll all somehow get there as long as we keep working towards the goal.

    • Things do tend to happen faster if I share. It is a marathon, and I am probably older than many of the other bloggers out there, so I’ve had a bit more time.

  10. Well I think it’s pretty darn impressive, and makes me scared about my own net worth right now. But I’ll use that as inspiration to work a lot harder! 🙂

    • We have certainly made our share of mistakes but have always poured a lot of money into my practice. I hope it does turn out to be the right thing. Small towns can actually be great places to build net worth. It’s dang cheap to live and own stuff here.

  11. Looks like you’re doing great! Our net worth is increasing, and it feels great.

  12. Wow, it sounds like you are doing very well. Congrats!

  13. You’re doing fabulous, Kim! I didn’t realize you owned so much property. You cash amount is probably a tad high, although it sounds like it’s in part because a chunk of that will have to go to taxes for the sale of your business. And I would have more cash available than an average person might just because you own a business and have rental properties. I keep our cash reserve a bit higher because of owning a business. Income fluctuates but employees still need to be paid, bills need to be paid, etc.

    • Thank goodness I’ve never had to dip into cash reserves to make payroll, but that’s a good point. I think I would be good with about half of what we have, but I don’t want to risk putting it into anything right now in case I do need it for taxes. Next year, the taxes should be more straight forward, at least I think so anyway.

  14. I think this is fabulous. You are definitely going to be in the millionaires club very soon!!

  15. You’re right, it’s very inspiring to see, great job!

  16. Your biggest asset less liabilities is the optometry practice.There is a lesson here! Small business is a great way to build wealth.

    • We would not have much if we hadn’t invested in the business. Thank goodness it worked out. It has been a crazy ride, but I’m so glad we did it.

  17. Awesome post I always enjoy seeing how well others are doing. In regards to cash it depends on your monthly fixed costs. Since you have rentals a safe ratio is it not being rented 20% of the time, if you’re heavily weighted in stocks it’s to to have cash. You should do a quarterly net worth update.

  18. I really like this, Kim. I think I am going to figure up my net worth in a minute. It should be in the positive. Not much in the positive but still there. It will give me some motivation. Good luck with the million dollar club but I don’t think you really need luck, you are doing awesome.

    • I think that’s a great idea, because I see your net worth taking off in the next couple of years. I wish I had been as devoted to my financial future when I was your age. I’d already be in the club by now.

  19. This looks great Kim! I wouldn’t worry about having that much cash set aside. We have a good amount set aside as well and it makes me sleep really good at night knowing it is there for any and all emergencies.

  20. Excellent!

    I have never tracked our net worth, but probably should!

  21. I think this is a good number. Most people have a negative, so you are doing OK. I just started tracking mine last year and I like seeing the positive growth, but we have a long way to go.

  22. This is impressive! I’m not sure why you’re worried about holding that amount of cash. Cash isn’t a bad thing. You clearly have it marked for specific important purposes, and in any case it’s only 7% of your net worth. I think people get too worried about the interest rate their earning on money that really isn’t meant to grow. It’s meant to provide either near-term savings or protection. You’re doing great.

  23. YES! Love it!! Good for you for putting it all out there and tracking it 🙂 Feels good right? I mean, I know you want it to look better, but at least *knowing* where everything is? As you do them each month it’ll be fun to watch stuff go up and down and then look back over time at how far you’ve (hopefully) come 🙂

    Congrats! And welcome to the club!

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