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 $6,448. This combines passive income from my military retirement and VA compensation.
Expenses
My expenses totaled $3,253. Expenses saw an uptick this month as I spent almost the entire month in Key West. As you can see, restaurants were my highest expense. This is mainly because I tipped high each time I went out.
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 $3,295.
- $3,295 Money Market Account
Check out CC hacking it saves me a ton of money!
Side Hustle
Side Hustle Income: $0
Net Worth: $831,916
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 $6.5K 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 rather low amount or off completely.
That is a -$26,325 gain since my last net worth update for January 2025 was $858,241.
I love using Empower to track my Wealth.
Final Thoughts
A big hit to my investment portfolio this month. But fear not this is all part of the wealth journey and this is not my first rodeo. I will do absolutely nothing and I will keep on keeping on.
I spent almost the entire month in Key West visiting my Mom and enjoying the chill vibes there. It was a good time, yet I felt kind of strange living in a big house instead of my smaller RV. I forgot how small my RV was until I was in the house.
Overall, I had a great time and can’t believe how fast time seems to be moving now that I am retired. I have no idea how I had time to work a job before. It’s interesting how my problems in life did not go away but instead have shifted. Now it’s all about time, freedom, and enjoying life.
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 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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