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Wednesday, June 30, 2021

My Financial Journey Progress and Future Plan

Today, I want to talk about my current personal net worth and my progress in my financial journey. I’m showing you, readers, this not because I want to brag, but to show a tracking record of my performance in managing my personal finance. Yes, I did inherit some money from my dad as a starting capital. The total amount he gave me is $350,000. It’s not a small sum amount of money, but I manage to turn that starting capital into $1,400,000.

My current net worth (July 2021) is more than $1,400,000 if I combine both assets in Indonesia and United States. I’m not trying to brag but to show my tracking record of managing and building my personal wealth. I’m pretty satisfied with my progress overall. My investing journey wasn’t smooth, for I also made many bad decisions and mistakes that cause me to lose money. However, even though I made a lot of errors, I was able to turn the $350,000 my dad gave me in total into $1,400,000In this article, I want to share my strategy to manage to have the current personal wealth I have right now. I am also going to talk about my plan for the future.

Living Below My Means & Invest Routinely.

One of my strategies to enable me to have the kind of wealth I have right now is living below my means. I always manage my personal finance carefully. For example, I didn’t get myself into debt. This allows me to build the wealth I have right now. If I have debt, I will have a tough time saving and investing my money. I don’t get a lot for working in my dad’s company. The wage I’m receiving every month is about $1,700, and it hasn’t increased since the first day I work in my dad’s company. I’m not going to complain about it since I’m only working as a freelance in his company. I don’t have to do much, which lets me do other side hustles that I am still working on.


Even though my wage is meager, I could save and invest routinely by living below my means. I always contribute a large percentage of my salary to the stock market. By me doing this, I was able to accumulate the wealth I have right now. I’m glad that I did this early in my career life. This way, I can compound my wealth early in life and snowball my wealth towards the future. I am planning to keep building my personal wealth to have a significant amount in the future. Because I did save and invest a lot at the beginning of my financial journey, I can start going easy on myself to save. I already accumulate enough wealth to grow by itself without new financial contribution towards my investment portfolio.


In addition, I also don’t own things that take away money from me. For example, I didn’t purchase a brand new car and still stick with the beater car I am still driving now. Since my primary income is still low at the moment, I’m only planning to spend more when I have my own primary income.

My Plan Towards the Future.

I’m not going to stop building wealth since I really enjoy the process of making it. However, I can go easy on myself when it comes down to saving. Because I have already accumulated a large sum amount of personal wealth, I can now spend more of my income on my daily needs. Therefore, I want to start enjoying life more directly and planning to increase my monthly budget soon.


There are things that I am not satisfied with. Yes, I built the wealth I have right now; however, I still haven’t created my primary income. Working in my dad’s company is considered cheating since I get paid for very little work. I want to able to create something on my own. Therefore, I will continue working on my side hustle projects so that I can make my own income without having to rely on my dad. I like this challenge because I want to make sure I can be financially independent without relying on the monthly wages my dad gives me. If I manage to have my own primary income aside from working in my dad’s company, I will be content with my achievement.

If I have my own primary income, I can spend more without having to touch my investment portfolio. For example, if I can earn $30,000/year without relying on my dad, I can have a better living standard than the one I have right now. This is the prime reason why I am still living below my means despite the amount of wealth I accumulated. I don’t have a primary income of my own. I still have to rely on my father giving me monthly wages. I’m sure that if I have my own primary income, I will spend more since I have proven to myself that I can be financially independent.


I’m going to keep trying to achieve my own primary income. However, I have already calculated with the personal wealth I have right now, and if I continue to contribute a fixed amount every month, I will still be wealthy in the future. Let me show an illustration. I have $1,400,000 in personal net worth right now. If I continue to contribute $2,000/month ($24,000/year) for another 14 years ahead from now, and assuming I can compound my investment at 15% CAGR, I will have $12,520,217 of personal net worth by 2035 (age 45). So even in the worst-case scenario, if I’m unable to create my own primary income, I will still be wealthy in the future.


I hope this article can give inspiration to anyone who is just starting. I believe anyone can be wealthy if you put your mind to it. Like I said before, I am not trying to brag about my progress but to show readers my tracking record in managing and building my personal wealth. I want to show despite my low income, I am still able to develop and create my own personal wealth through saving and investing routinely.


My goal now is to create my own source of primary income. This way, I don’t have to rely on the monthly wage that my dad is giving me. If I manage to find my primary income source, I will then consider myself to be successful. However, as of now, I am still working on them. I will update readers with my career progress in this blog. Hopefully, this can be a learning experience and inspiration to readers out there.

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