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
Another month and I’m still inching my way closer to FIRE! Stay consistent and keep investing like it’s going out of style.
This month I made $5,801.
Expenses total right at $2,233.
This month I saved $5,275 which is right around a 66% savings rate.
- $1,811 TSP
- $1,732 VANGUARD Taxable Account
- $1,732 Crypto Account
Checkout CC hacking it saves me a ton of money!
This month’s side hustle income was zero! I had a pretty busy schedule and did not really focus on it.
Side Hustle Income: $0
Net Worth: $363,686
That is a +$14,688 gain since last month’s net worth update for January was $348,998
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.
I love using Personal Capital to track my Wealth.
I’m finally growing my risk portfolio! My target allocation I have said in the past is now 5%-10% of my portfolio invested in higher risk investments. I decided on this as a gamble to see if I can turn a higher return and accelerate my wealth building. At the same time, it’s a fun experiment to document compared to index funds.
Risk investments for me are single stocks and crypto. I like the idea of 5%-10% because it’s small enough not to destroy my plan if it goes to zero. Yet enough that if it pans out I would actually see a nice profit.
Now my big thing is I did not even do this until I hit over a $200,000 investment portfolio. Because I wanted to build a solid wealth foundation that would keep growing.
I think at this point I would say without a doubt this simple strategy just works. The longer I do it the more it works. Aril 2017 was my first Net Worth Update on my blog. At that point, my net worth was $73,000. It has grown by over $290,000 in less than 4 years. That is roughly $72,500 a year it has grown.
I can tell you until about 2019 I did not make over about $55,000 a year. Even now in 2021, I don’t make $100,000 a year. The equation and strategy are simple but sucks at first as it’s slow. Yet keep pushing and it starts to accelerate.
Time + Consistency = Wealth Domination
Nothing too new this month. More amazing sunsets and great smiles! We found a new little area right next to our RV spot that is gorgeous. It’s called sunset cliffs.
I have started to practice and really dive deep into modern stoicism. Honestly, it’s been very eye-opening and life-changing. It’s kept me more grounded and in control. It helps me realize what to focus on and what to let go of. I highly encourage everyone to look into it and put its practices into their life.
I have been slacking on some of my systems I put into place to pick up learning French and practicing guitar more. I will reexamine this and look at a way to fit it into my schedule. Or figure out if there is anything I want to drop out of.
For those of you that 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, “why the hell not take on this as a passion project?”
One of my desires this year is to really get and build more community! Here is the Barista and Coast FIRE group HERE.
Join us in our no judgement FIRE group
No gym, weights, or fancy gear for over a year! I’m literally slaying this fitness routine. It’s Fun, Simple, and Works. I’m literally gaining flexibility, strength, 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 2021?
- 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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My favorite free financial tool to manage my net worth is Empower. 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 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.