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
Wow, this month has flown by! I don’t know what it is but lately, time just seems to be flashing by me. Not too much new on the Homefront this month. We are still living on a beautiful beach-loving life.
Well one thing new is I became an official stock picker!
I have decided to start having fun and use M1 Finance as my investment platform. They have a great interface, love the pie concept, no trading fees, and fractional shares. We will discuss more at the end of the post.
This month I made $5,935. Can someone say dividends!
Expenses total right at $3,298. I’ll explain why it’s so high at the end of the post.
This month I saved $4,992 which is right around a 50% savings rate. This is what I call winning!
- $2,310 ROTH TSP (401K)
- $2,682 VANGUARD MONEY MARKET ACCOUNT
Net Worth: $238,616
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 +$4,616 gain since last month’s net worth update for May was $234,000
Let’s talk about the expenses, they are high because I paid off the next 6 months of my insurance, next year of my phone service, and paid for more than a month’s rent at the RV park. Why? Because of CC hacking and wanted to hit a spending limit on big things I needed to get eventually.
I also as mentioned above decided it was about time I started to dabble in a individual stock strategy for fun. I thought this would be a cool experiment one to write about and two to see how my single stocks perform compared to my Index Funds both short term and long term. So these single stocks will for the most part be a buy and hold. Now I might also do a little trading with some of these. As of right now the four stock I choose are…
AAPL and BRK.B I plan to buy and hold. I think once CCL and AAL bounce back or if they bounce back a bit I will sell for a profit. I’m also looking to add potentially DIS and maybe AMZN. I don’t want to get carried away with how many I hold. I will track these and show how they do as far as ROI. I really like how I can buy these stocks with fractional shares and I can balance them easily with the pie concept M1 Finance brings to the table.
What is the purpose of FIRE and Wealth if you never enjoy life and live. I don’t mean going crazy and spending money I mean enjoy the moments. This month we did some amazing walks and captured valuable fulfilling moments. Below is just a few of these moments. I’m seeing a huge problem in the PF world of focus so much on raising your income and always Hustle for more streams of income. To me, that misses the point of building wealth. It’s so I can enjoy life more not to have billions of dollars and a bunch of stuff. Saw an epic yacht with a helicopter on it! Of course, you can’t beat our sunset from the RV.
Well as many people know I’m also passionate about fitness. I have started a YouTube Channel to give people workouts and ideas for fitness. What is great about my approach is no gym or fancy equipment is needed. I will be adding fitness posts to this blog. I want to inspire people to meet whatever fitness goals they have. I’m 35 years old and do suffer from some chronic issues myself so I understand. I train to be functionally fit now and since this virus hit I have not been back to the gym. I have lost 10 pounds and on a guy like me, that is a lot of weight. I feel stronger, faster, have substantially better endurance, and think I’m looking better.
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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.