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 $6,607. This combines passive income from my military retirement and VA compensation. Also, made a little bit of money from selling some stuff and interest.
Expenses
My expenses totaled $4,767. Expenses saw an uptick this month because I got Nora fixed, and she had stomach surgery. As you can see, Pet Care was my highest expense, followed by Automotive. I now have a truck payment, and I ordered a bunch of detailing products for the truck this month.
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 $1,428.
- $1,428 Money Market Account
Check out CC hacking, it saves me a ton of money!
Side Hustle
Side Hustle Income: $249
Net Worth: $772,941
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 $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 relatively low amount or off completely.
That is a -$58,795 drop since my last net worth update for February 2025 was $831,916.
I love using Empower to track my Wealth.
Final Thoughts
I’m seeing an uptick in people letting emotions and irrational thoughts get the best of them. We are seeing a slight decline in the market, which is a normal part of the journey. You can’t expect to see positive returns every month or year. But for some reason, people are allowing their politically biased views some how cloud their ideology on this current market and the future of it. We all should know every study over the last 100+ years has shown and proven that you can’t time the market, and in fact you will likely lose more money and become less wealthy by trying to do so.
Yet politics, media, and headlines are manipulating people into thinking they should time the market this time because “It’s different, or “Unprecedented”. Which is not true in the slightest. The reality is that the market or statistics don’t care what the event was or how it was created. The market eventually has an event that causes fear, correction, and a crash. Yet it eventually recovers, and we reach new highs in the market. It honestly blows my mind how many people don’t understand this.
Personally, I still follow the math and statistics just like I have for the last 10 years on this journey with many events that caused panic, fear, and yet I came out wealthier each time because I did not allow emotions or irrational thoughts to control me. I actually am DCA into the market, with some of my cash holdings are taking advantage of this sale. I am also doing Roth Conversations and saving on taxes because of this drop!
I remember over the last 10 years of my journey, the sky has fallen multiple times, and people each time swore this time was different. Yet here I am, retired for two years and close to a million in liquid assets because I shut out the noise and focused on what I could control and kept investing. If I had never done that, I would not be retired right now and still grinding for money.
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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