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
We are still in a quartine situation here in San Diego. Mind you I still go to work every day but almost everything is closed here or open with huge lines to get groceries and things like this. I am planning to do a post about my experience with COVID-19 and how it affected me and my work. So this month we just hung out at home and at our private beach most days.
This month I made $8,428. Great month for my income! this was due to my tax return hitting and that COVID-19 stimulus money. As you can see the graph below is wrong. PC for some reason is not showing my $1,200 stimulus check!
Expenses total right at $1,048.
This month I saved $7,949 which is right around a 66% savings rate. This is what I call winning!
- $2,310 ROTH TSP (401K)
- $5,639 VANGUARD MONEY MARKET ACCOUNT
Net Worth: $218,833
This is where it gets a little sticky now. My net worth posted on Personal Capital in the sleek graph below is wrong. Still, have some of that crypto that would not link to Personal Capital.
That is a +$49,712 gain since last month’s net worth update for March was $169,121
Just like that, I have gained a lot of my losses back. You see this is why I’m very against trying to time the market. Because not only do you have to get out of the market at the right time you have to know when to get back into the market at the right time. Yet frankly, I still see people try to do it even in the FI community. But hey more power to them I guess. I rather have a beer on my beach than to try that gamble.
I have started to build my cash reserves. I am doing so incase Realestate takes a plunge and I can buy a nice rental for a great price. But who knows if it does not happen I’ll invest the cash. I also have a big surprise coming up that I will soon be revealing.
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My favorite free financial tool to manage my net worth is Personal Capital. You get a $20 Amazon gift card for signing up.
My favorite free investing platform is M1 Finance. You get $10 for signing up. No trading or management fees plus you can buy fractional shares.
My favorite Credit Card Hack is American Express Platinum, Hilton Honors Aspire, and Bonvoy Brilliant AMEX. So far they paid me over $2,200 this year to use these cards.
My favorite phone service is Mint Mobile. You get a $15 renewal credit for signing up. I get a year of phone service for a rock bottom price of $240. As a guy who travels and lives in an RV full-time, this service has been amazing.