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
My income totaled $6,598. This combines passive income from my military retirement and VA compensation. Also, made a little bit of money from selling some stuff and interest.
Expenses
My expenses totaled $13,009. Probably one of my most expensive months since I started documenting my journey. This is because I paid my 2024 taxes all at once this month. On top of that, as you can see, I spent a lot of money going out on experiences.
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 $394.
- $394 Money Market Account
Check out CC hacking, it saves me a ton of money!
Side Hustle
Side Hustle Income: $250
Net Worth: $799,224
My net worth does not account for my passive income. I only account for my liquid investments, cash, paid-off RV, and truck. However, I put my RV for far less than NADA says it’s worth and less than similar models on the used market. I eventually might take the RV and truck off completely, but as of today, it accounts for $4K of my total net worth. I have been lowering the RV value by $500 every month, and I plan to keep doing this until it’s at a relatively low amount or off completely.
That is a +$26,283 gain since my last net worth update for March 2025 was $772,941.
I love using Empower to track my Wealth.
Final Thoughts
Just like I said last month, this time was no different, and the market is already starting to recover in full swing again. Having a +$26K increase in my wealth stash is pretty cool. At this wealth level, I see some sizable swings that only get bigger the more wealth you have.
Keep on keeping on is the short sweet lesson here, folks. Don’t let the media or other folks manipulate you in any form or fashion.
My Passive Income
It’s cool that I make $76,116 annually without even touching my investments. That is the equivalent of $2,511,828 million invested at a 3% SWR. If you add my investment portfolio, I could have around $120,000 a year in passive income with around a 5%-6% SWR.
Could I hustle more to earn $150,000 in passive income a year? I could, and it does sound cooler than $120,000. But I don’t see a reason to do so yet. I don’t spend anywhere near $120K a year as is. Also, I 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 $120,000 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 seemed 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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