I want to explain why I do a monthly net worth update.
- Keep me accountable
- Track my journey
- Prove that anyone can become a millionaire
- Prove that FIRE works
I hit FIRE in 2023 at age 38! Stay consistent and keep investing like it’s going out of style.
Income
This month I made $6,186. This is a mixture of passive income from my military retirement/compensation.
Expenses
Expenses total right at roughly $3,005. This number is a bit off below due to things still pending.
Savings
Now that I am retired the focus is not on a high savings rate. But seeing my passive income is 2x what I usually spend I foresee myself still saving and investing some money. This month I saved $3,101. I eventually move this money to either my Vanguard MM account or just throw it in one of my taxable accounts.
- $3,101 Money Market Account
Check out CC hacking it saves me a ton of money!
Side Hustle
Side Hustle Income: $0
Net Worth: $762,970
My net worth does not account for my passive income. I only account for my liquid investments, cash, and my paid-off RV on this net worth. However, I put my RV for far less than NADA says it’s worth and less than similar models are listed for on the used market. I eventually might take it off completely but as of today I have it on here and it accounts for $11.5K of my total net worth. I have been lowering the RV value by $500 every month. I think I will keep doing this until it’s at a rather low amount or off completely.
That is a +$8,765 gain since my last net worth update for July 2024 was $754,205.
I love using Empower to track my Wealth.
Final Thoughts
Another fun month down being retired early. The market has had a few ups and downs over this month. I just kept on keeping on as I like to say. My spending has dropped because I am now not blowing money like I was for no reason. I’m trying to get back to being more intentional with my spending now that I had the chance to do experiments with spending on different things to see how much value they bring to my life.
What I learned is most things I value are free or very cheap. Exploring outdoors, staying active, cooking fun food at home, working out, slow and simple living.
Those are the things I seem to value the most right now in my life. I love that I can just get up with no rush in the morning. I enjoy getting outside for my walks and runs. I like taking care of my body and keeping it fit and healthy. I enjoy cooking food with no rush and trying new things. I love being retired early because it makes all of these things better.
I’m starting to do small projects on the RV to refresh it though it also almost feels never-ending. But when you live full-time in an RV and have traveled as much as me it just becomes part of the lifestyle. More talks about this in my RV Costs post.
My Passive Income
It’s cool that I make $74,232 annually without even touching my investments. That is the equivalent of $2,449,656 million invested at a 3% SWR. If you add my investment portfolio, I could have around $115,000 a year in passive income.
Could I hustle more to make it to $150,000 in passive income a year? I could and it does sound cooler than $115,000. But I don’t see a reason to do so yet. I don’t spend anywhere near $115K a year as is. Also, I only see my investment portfolio going up as time goes on, which will create more passive income.
It does feel incredible knowing that I can spend up to $115,000 a year and never have to work at a job to do so. It’s all passive income that I get no matter what I do that year or where I live.
Those of you who have been following my Net Worth Updates can probably skip the rest of this post.
Barista and Coast FIRE group.
I have created a FIRE group for Barista and Coast FIRE people. I saw there was a gap in the community and these paths seem like the more enjoyable path. So I said, “I have to take on this passion project.”
One of my desires this year is to get and build more community! Here is the Barista and Coast FIRE group HERE.
Join us in our no-judgment FIRE group
Fitness
No gym, weights, or fancy gear for over a year! I’m slaying this fitness routine. It’s Fun, Simple, and Works. I’m gaining flexibility, strength, and endurance it’s incredible. Mind you this is with me having multiple injuries from the Marine Corps. I have learned I never needed that gym anyway.
On top of that, I have started to cultivate a Facebook Fitness group where anyone is welcome to come to join us. I set Bootcamp challenges to get everyone motivated and active.
Do you have a fitness goal for 2023?
- Get stronger
- Lose stubborn body fat
- Get a more defined six-pack
- Be more active without being judged
Join my FREE no judgment fitness FB group HERE. The goal is to build a community and help positively impact your health for FREE.
Hopefully, you enjoy these updates and it inspires you to keep going!
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