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
As May comes to a close we are still in a quartine situation here in San Diego. This month was mostly hanging out and getting my head right. Lots of walking around with my wife and our dogs. I have started a YouTube Channel, yeah go me! I wanted to start sharing more fitness routines I do so others can use them. I am also going to dabble in sharing our Journey and videos about Money on there. I just think it’s another platform I can use to create and share with others.
This month I made $5,636. Nothing fancy here for May.
Expenses total right at $2,274. This is a bit higher than usual we had a few odd things we bought this month like a new rug, running shoes and other loose ends.
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: $234,000
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. Also, the below graph is including June 1st paycheck.
That is a +$15,167 gain since last month’s net worth update for April was $218,833
Hopefully, this market teaches investors that we can’t time the market consistently long term. This is why I love the Buy and Hold strategy to build my wealth. I literally take all of the guesswork out by doing this and get to focus my time on what I enjoy every day. To me, this is what flexible freedom looks like.
Keep to your investment plan. If you don’t have one, make one. Because I stuck to my plan I am now at a higher mark than I was at my highest point. Now that is also due to me still consistently investing every month.
I also bought a very cool outside solar wooden display. I love how it shows my love for the Marine Corps. Like I mentioned above I have started a YouTube Channel as well. I will be sharing tons of functional fitness videos on there where you can get fit and stay fit without a pricey gym or fancy equipment. There will also be videos on money and our journey down this path to Financial Freedom.
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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 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.