WealthScore.... How Did You Go?

Hi,

This is the official forum thread for those people who would like to discuss WealthScore - the new wealth tracker that is freely available at http://www.PropertyInvesting.com/wealthscore

Posts about the merits of the technique as well as individual scores and ideas for encouragement or improvement are welcome.

All the best,

Steve McKnight

Final 2008 Seminar reveals how to profit from uncertainty:
http://www.propertyinvesting.com/seminars/investing-masterclass

I got 3300 which will last till 2016. Not counting the revaluations I could do every 3 years to access more equity and prolong my early retirement.

I got 2405 .  What I like about this little application is that you can benchmark yourself with a simple number and then reassess your position every few months and hopefully (!!) achieve a higher score.

Thanks Steve for all your hard work - it's fantastic that you give value back to your members.

Regards

Nicole

Thanks steve for the valuable tool.  Congrats Nicole & Alfonso outstanding scores.  It was very timely because I am just about to re-assess my goals for 2007 to see if I will achieve them or not, my score was 580.  I have a long way to go and it wasn't a negative score so I am on the right track.

I'll put in a bid for lowest score, -820. If I sell all my assests, pay out my debts and stop working then apparently I will survive until...well... today

www.geekconnect.com.au - the simplest website package on the market

I got 46 and could apparently survive until 16 October 2007. I better start storing away the nuts.

Mad-dog & Nin10,

Stress not!  What it probably means is that you have stored up a lot of your wealth in personal assets, and that you have debt which is not covered by investment assets.

That's a good realisation if true, and something to improve upon.

The reality is that most people won't get a wealth score much about 60 (two months), let alone 365 (one year).

What it does suggest though is that it is time to import some new money habits and reassess your goals.

Warm regards,

Steve McKnight

Final 2008 Seminar reveals how to profit from uncertainty:
http://www.propertyinvesting.com/seminars/investing-masterclass

1461 and increasing........    

Thanks Steve,
I feel better now as I got 254 which didn't seem too bad, then I read the first two posts and I thought I was doing really badly.
Like someone said above, at least I'm not negative....it will be fun to see if we can improve our score.
I forgot to look....could we print the results? That would be handy.
Cheers,
Sue

"Be careful not to step on the flowers when you're reaching for the stars"

Bugger 64

Hi Maddog,

I managed to survive until ....yep you guessed...until today!

Dont worry you guys, I scored -452. Yes, I may be the only person who could survive negative one year! Not the best time to quit work!

Hey Merryc!

Scary stuff this is!

I wonder what %age of the population would actually score a positive of any sort on this anaysis?? What you reckon? 2%...maybe?

Hi Richard - Full time property investors, Hotel Heiresses and minor European Royalty would be my guess. Unfortunately, we just leveraged ourselves to the hilt to buy a business opportunity which wont start to pay out for a while. I think if I try again in 90days I may be even further behind :)

Hi, great user friendly tool!
Good on you Steve!
so far: 2870, financial survival until 2015.
It should have been much better, except for some very silly investment mistakes.
so, there is hope for everyone yet.
it means that I should triple that score in the next 10 years and spend it all the next 20, providing I avoid too many mistakes and continue to invest wisely.

I got -118, so would only survive until today as well. Better get my ass moving and improve that before the end of the year!!!

9999+
Applying the Formula For Riches™ in property and business can set anyone financially free - on condition you are prepared to take the responsibility.
Appreciate your insights and willingness to help others
Thanks  

Hi,

To all those who have a -ve WealthScore, clearly you have survived thus far, but the formula is telling you that you are dependent on a job for your survival.

The natural course followed by many people is to use debt to buy lifestyle assets first (the biggest being the family home), and to then worry about financial independence thereafter.

The extent of your negative score simply indicates that your wealth is accumulated in assets that do not provide a financial return. This is easy enough to change. It means that you need to some different spending decisions.

If anyone would like to share their WealthScore and situation then I'd be happy to try and provide some help.

All the best,

Steve McKnight

Final 2008 Seminar reveals how to profit from uncertainty:
http://www.propertyinvesting.com/seminars/investing-masterclass

I got 454, but there was no provision for the rental income, or did I miss it, and our PPoR is now also an I.P, so how does that work?

Cheers,
Marc.
erardent@hotmail.com

"we get sent lemons; it's up to us to make lemonade"
www.whydoislice.com - for all the golfers out there!

negative! I cant live passed today!

Still paying off debts this year, next year we are saving up 20k each via managed fund, and then getting a LOC on the equity of this unit, and buying a new house and renting out this house. The managed fund income will take care of the rental shortfall, LOC interest and margin loan interest. The plan then is to buy a house each year as equity and our continued savings allow.