All figures except my Jeep value are generated from Mint.com.
Tomorrow marks my ONE YEAR FIRE ANNIVERSARY and so far so good!
Tomorrow marks my ONE YEAR FIRE ANNIVERSARY and so far so good!
Unless something super crazy happens tomorrow, I will have logged another strong gain in my net worth.
When I became FI a year ago my net worth was approximately $910k and it is currently around $896k which means I've lost around $14k since I left the work force. I certainly don't like the idea of losing any ground, but considering the S&P 500 has only gained a hair over 3% during the trailing 12 months I'm happy.
My back of the cocktail napkin math is that if the S&P 500 gains 7% per year I will have a static net worth and that is staying pretty true to form. I spent around $33k in cash yet my net worth only fell $14k.
It's also interesting to note that on Christmas eve (the most recent bear market bottom) my net worth was $848K or 6.9% off my beginning FIRE net worth amount.
December also marked the time when I finally came out of hibernation and put in place a $350/month CD income ladder and made a few strong dividend investment moves. I have also received roughly $2400 in credit card bonuses since late last year. My earned income during the last 365 days is ZERO.
Regardless of market dynamics, I feel like I am in a much stronger financial position going into Year 2.
Here is my February 2019 snapshot.
Assets
Checking --- $6336
Savings/Investments --- $357,757
Lending Club --- $1,824
HSA --- $2,570
IRA --- $9,923
401K --- $362,217
2014 Jeep Wrangler --- $19,500
House --- $140,669
Liabilities
$4798
Net Worth
$895,998
YTD Totals
2019
Liabilities
$4798
Net Worth
$895,998
YTD Totals
2019
Jan 2019 --- $887,560
Feb 2019 --- $895,998
2018
Jan 2018 --- $917,116
Feb 2018 --- $910,667
Mar 2018 --- $909,746
Apr 2018 --- $903,416
May 2018 --- $889,032
Jun 2018 --- $893,278
Jul 2018 --- $892,002
Aug 2018 --- $896,619
Sep 2018 --- $899,763
Oct 2018 --- $876,927
Nov 2018 --- $891,402
2018
Jan 2018 --- $917,116
Feb 2018 --- $910,667
Mar 2018 --- $909,746
Apr 2018 --- $903,416
May 2018 --- $889,032
Jun 2018 --- $893,278
Jul 2018 --- $892,002
Aug 2018 --- $896,619
Sep 2018 --- $899,763
Oct 2018 --- $876,927
Nov 2018 --- $891,402
Dec 2018 --- $864,613
2017
May 2017 --- $835,009
July 2017 --- $851,904
Aug 2017 --- $860,072
Sept 2017 --- $869,374
Oct 2017 --- $887,033
Nov 2017 --- $897,145
Dec 2017 --- $914,266
There is no down time when building a path that doesn't lead back to ZERO
2017
May 2017 --- $835,009
July 2017 --- $851,904
Aug 2017 --- $860,072
Sept 2017 --- $869,374
Oct 2017 --- $887,033
Nov 2017 --- $897,145
Dec 2017 --- $914,266
There is no down time when building a path that doesn't lead back to ZERO
MDP -
ReplyDeleteHell Yeah. Pumped for you and man, what a great year you had MDP, time to keep the grind on. Financial Freedom looks awesome.
-Lanny
Lanny,
DeleteI appreciate that. This first year I spent most of my time relaxing and detoxing. I never realized how much unwinding I need to do! It is great not have the traditional schedule that most have during the day and I have no regrets. In fact my life is picture perfect right now and am looking forward to year 2!
MDP
Great first year of FI MDP! That's awesome news. Out of curiosity how are you managing your monthly cash flow? I'm assuming you're having to supplement the dividends with some capital gains in order to cover your expenses. Or are you able to tap into the 401k/IRA somehow?
ReplyDeletePIP,
DeleteThank for the comment! I don't have an official strategy quite frankly. I have about $10k per year in passive income along with $180,000 in CDs (1 year). That should cover me for the first 6-7 years. I also have another $180 or so in dividend stocks and mutual funds. I'm 47 now, so I think this is conservative enough to get me to around age 60-62.
My current 401k balance is around $360k. I plan to start withdrawing from it around age 60-62 when my taxable account becomes depleted. As I'm sure you are aware, Social Security payments are calculated so that lower income earners get a much higher percentage of their income paid to them. As you earn more you receive smaller percentages of your contributions....kinda like reverse tax rates. I'm not giving up much in my future SS benefits since I maxed out my taxable SS income throughout most of my working years.
My current estimated SS at 62 years is $1800 and at 67 is $2400. That amount might increase a tad in the future.
Hope that helps!
MDP
Hello Everybody,
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