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 $6,786. This combines passive income from my military retirement and VA compensation.
Expenses
My expenses totaled $6,253. A big expense month for me.
Savings
Now that I am retired, the focus is not on a high savings rate. This month, I saved $533.
- $533 Money Market Account
Check out CC hacking, it saves me a ton of money!
Side Hustle
Side Hustle Income: $0
Net Worth: $922,441
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 $500 of my total net worth.
That is a +$24,325 gain since my last net worth update for July 2025 was $898,116.
I love using Empower to track my Wealth.
Final Thoughts
I feel like August went by way too fast. I’m not sure what it is, but there seems to be not enough time in the day, even when being retired early. Slowly but surely, my wealth is compounding and getting closer to that liquid million mark. Though that mark does not change much for me, I think it’s a big, bloody cool milestone. Arguably, if I had gotten even a part-time gig, I could have already hit it.
Also, I have some big news to share on this update! I finally ended my nomadic RV chapter. After living in the RV for 6 years, I decided it was time to move on. I was considering buying a luxury RV for $60K but after a few days of self-reflection, I realized something. Even spending more on a better-built RV that was a lot more luxurious inside, it’s still an RV and still will have things break on it. This chapter I want to be about having more time, freedom, and flexibility to do the things I love and enjoy. While the RV did give me freedom and flexibility, it was draining my time with repairs and renovations. So I decided to move into an apartment. This way, I have no responsibility to fix things or need to renovate anything. So I get more of my time back. I still have the freedom and flexibility part because of my financial independence, I can still travel because I can afford to pay rent and pay to travel, and leave my apartment. I have flexibility as well because I am FI, as I can try new things like renting an apartment here in South AL. The downside is one my housing costs have increased, and secondly, I need to buy furniture, which takes time and increases my expenses temporarily.
I landed on a 2BR/2BA place with some great amenities. I have a saltwater pool, tennis court, volleyball, soccer field, three dog parks, gym, and it’s minutes from so many things, and only 18 minutes from the beach. I pay $1,384 a month, and this includes rent, water, cable, and WiFi. So rent increased by $543 a month, and I am not sure what the electric bill will look like yet. But I guess around $100. My goal going forward is to see if I can keep all fixed expenses to about $3.6K a month. When I say fixed expenses, I mean all the basic stuff like housing, food, truck payment, insurance, gas, puppy expenses, etc. This would leave me with about $2.7K in excess cash flow. That is a good chunk of change every month for splurging on eating out, hobbies, travel, and any other things my heart desires. Mind you, this is just from my military retirement and does not account for my investment portfolio. Now, if I don’t spend that entire $2.7K, I have a few options. I can simply invest any leftover, throw it into my cash holdings, or use it perhaps to start paying down my truck. Another option is perhaps I am saving for something, and any leftover money could go to that goal as well.
But what about my big investment portfolio, you might be asking. Well, going forward, I plan to use that for big splurges I can not cash flow with that $2.7K. Some examples are a Safari trip, perhaps buying a fun toy like a sports car, boat, etc. This way, I can still have the freedom/flexibility to splurge on big things if I desire to. Yet this also leaves me the opportunity to later on increase my standard of living if I want to. Maybe in 5 years, I will want to buy a big house, so my housing costs will go up. Well, I know with my excess cash flow from military retirement and with my portfolio, that would be possible. This also allows my portfolio to keep compounding and grow, which will only allow me to splurge more in the future. I’ll accomplish this by utilizing a safe withdrawal rate on my portfolio. Say I use a 4% SWR and that gave me $40K of splurge money in 2026, I can then plan how I want to utilize that money for big fun things. Say if it’s I want to buy a $60K sports car. I can either put the $40K cash on it and get a loan for the other $20K, or put that $40K in a HYSA and in 2027 pay cash for a sports car. This is just one extreme example. A better one to me is I would spend $10K on a Safari trip, maybe spend $10K on renting a boat every weekend for say 6 months, another $10K maybe set aside to cash flow a big item, and the last $10K utilize it for a cause I believe in or reinvest it. Lots of options and flexibility with this strategy.
The best thing is I am wealthy enough to try new things and see what brings me value. Just like how I am now renting an apartment and a bigger one than I actually need. It feels incredible to be at this point after focusing on the journey for 10 years.
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 $103K-$131K a year in passive income with around a 3%-6% SWR.
My portfolio plan would be to use guardrails. If the market is down that year, I would use a 3% SWR. If the market has a 0%-10% return, I would use a 4%-5% SWR. Lastly, if the market has a +10% return, I would use a 6% SWR. Though this is all theoretical, as I have not implemented it, and when I do, I will adjust accordingly to make sure I don’t run out of money or die with too much.
As you can see, I don’t have any reason to hustle for more money. Though this does not mean I might not ever make more money, as I have thought about starting to house hack or get into rentals.
It does feel incredible knowing that I can spend up to $131,000 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 they inspire you to keep going!
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