Finance

I’m creating my own nail-biter over here. This is the third month in a row of a new net worth high. That feels dang good on its own: At nearly $350K, I’m 70% of the way toward my $500K goal.

But the goal is to hit $500K by August 2024. That’s in 7 months! Being $150K short means I’ll have to increase my net worth by over $21,000 each month on average until then to achieve it.

That’s… a lot. Is it realistic?

I mean, probably not.

Is it also incredible? Heck yeah! I continue to be amazed at how compound interest truly has a life of its own.

I’ve had plenty of months with gains and losses of that size. But to have 7 winning months in a row? I’m my own underdog. It’s unlikely but it would be soooo cool if it happened.

Even if it doesn’t, I think I’ll get pretty close. Either way, 2024 is already shaping up to be an incredible year.

February 2024 Freedom update

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Like last month, this one finds me at yet another new net worth high. But unlike last month, it also finds us with a brand new baby girl. That’s right – we are now a party of five and have spent the last week getting to know our sweet new baby!

Even with all the expenses associated with delivery, my overall net worth continued to tick upward to over $342,000.

I’m excited and so tired. We’re currently on an adventure and making new memories in a new place. Here’s how it’s playing out as I start 2024.

January 2024 Freedom update

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I’m at a new net worth high. In fact, a year ago in December 2022, I was also at a new high: $266K. Must be the so-called “Santa Claus Rally.”

This month I’m at $334K.  That’s $68,000 higher than this time last year and $166,000 left to go to hit my $500,000 goal.

If I can increase my net worth by $18,000 over each of the next nine months, I’ll hit the goal. Is that possible? Well, this month I’m up nearly $30,000 so… if the trend keeps up I just might make it.

But I also know how quick it can turn, so don’t want to take mental possession of it yet.

That was a lot of numbers. Here’s one more: I’m 67% of the way there.

Whether I hit the goal by the end of August 2024 as planned/hoped for or not, I’m gonna go ahead and give myself some grace. I’m doing so good.

December 2023 Freedom update

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Somehow I’m back at 61% of my $500,000 savings goal and up nearly $19,000 this month. Not gonna lie, last month was devastating being down so much.

So while I love restoring growth, I know better than to get attached or assign mental possession to it. It could just as easily slide down again (and it has). In my case, it will.

Because we have a lot of expenses coming up in the next few months. The only thing that could provide levity is for the stock market to keep going in this upward trend, which… is it? 

There’s been a lot of positive economic news lately (in the world at large), and my 401k has nearly recovered all the losses from earlier in the year. This month, my other investment accounts rose back to their October 2023 levels. If the market continues to improve, it could seriously make up for (and exceed?) my upcoming expenses.

And if the housing market improves, I could add to my home equity. Again, trying to stay level, but there it is: that hope that things will start to turn around.

Either way, I’m staying on track, adding cash to accounts when I can, cutting expenses wherever possible, and steadily paying down debt—all at the same time. As I have someone managed to do for years.

November 2023 Freedom update

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I’m coming in sheepishly! My Travis Scott ticket reselling fiasco made a splash—for others in my situation and in the ticket reselling community. I’ve already talked about that here and don’t have more to say about it… for now.

I mention it because I sold stock for the first time in my life to correct my mistake and allll the life lessons that came along with that. Anywhomst’ve, I’m completely at peace with it. I learned my lesson, and I’m moving forward. It sucked, but it’s over.

You’ll see that debacle, a market that struggled through most of September (with one of the lowest days since March and the Dow that went negative for 2023 YTD), and a big decline in my home value reflected in this Freedom update.

As of now, I will most likely NOT hit $500K by August 2024. As my toilet stopped draining last week and lead to further large repair reckonings this month, I had my freakouts and regrouped. Here’s a link to the amazing BOY BOSS t-shirt from the photo above if you want one. (Sorry for the jarring transition.)

Life has changed a lot since I made that goal way back when. I will have multiple millions by the time I retire—even without adding another cent to my savings. And it’s true that, in general, I’m focused on the day-to-day more now.

I accept all that. And, not to get too philosophical, realized it’s not that serious. Spending money now, while I don’t love it, is what I have to do right now. (And maybe I do love it? Because we’re always getting what we want.)

All that to say, anything could happen and I’m still sticking to my plan of investing heavily, paying debt, and reducing expenses. There are speed bumps now. They won’t always be there.

Anyway, let’s talk about it.

October 2023 Freedom update

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September is my personal new year. I had a birthday last week and turned 39. And next week, Beck will be 1. [times flies, etc.]

It’s also a countdown to my $500,000 goal – one year left.

It’s looking unlikely that I’ll hit it—unless something massively shifts (which is always a possibility) with an unprecedented bull run, influx of cash, huge real estate increase, or something of that caliber.

Not to say that won’t happen, just that it’s easier for me to grasp if I’m realistic. But there’s still that dreamer in me.

Right now, I’m at ~$313K. That’s $187K short. To hit $500,000, I’d need to collect $15,583 per month for the next 12 months.

I’ve had months like that before. And every time the stock market rises even 1%, that’s a huge gain for me. But it’s more than I can produce on my own.

So this month finds me, as always, pondering where I can place the best 20% of my efforts to get closer to 80% of the overall results I seek. 🌠

September 2023 Freedom update

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Because the stock market has been thriving and the economy is beginning to even out, my net worth saw a new high this month – just shy of $300,000 and nearly 60% of my ultimate $500,000 goal.

Yay! I’m thrilled/relieved for this update. On one hand, I cognitively know that investing during a downturn means huge gains down the road. On the other, that road felt (feels?) really long.

In fact, I hit $200K invested in November 2021 – the same month I moved to Oklahoma. Right now, I’m sitting at $241,320 invested despite maxing out my 401k and Roth IRA in 2022, and opening an UTMA for Warren, my three year old. I’d been flat and hovering around the same level for over a year and tbh these updates were starting to get same old.

But I know that powering through that slog will benefit me well in the future. It’s to the point where if the stock market has a good month, I can see gains of $20K+. This is the momentum I’ve been looking forward to. My hope is always cautious, especially these days, but I’m having a milestone month and I’m gonna celebrate those accomplishments.

As I work my way back toward financial stability and pay off lingering debt, I’m seeing the light again and am beyond ready to plow forward.

Let’s review.

July 2023 Freedom update

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This past month has been nonstop in the best way possible! It’s been one good thing after another. I’m so grateful – I really needed some things to work out.

We went to my partner’s brother’s graduation, spent a week exploring Dallas (so different with kids), and had a weekend visit with family.

This weekend, I lost my mind and bought a minivan (used, of course). We got a great deal on an 8-passenger minivan and the finance terms and monthly payment were agreeable. So we drove it home. And so far, we love it. We quickly outgrew my little Nissan Versa Note, lol.

I start a new job on Monday and am very much looking forward to it! This infusion of new energy is seriously good.

I also found a new barber and have been doing yoga when I can (because self-care is so important, especially when you’re parenting). It’s been pretty nonstop, but all in the service of moving forward and making progress.

With all of that, let’s see how it impacted me financially.

June 2023 Freedom update

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It’s been a good month. The weather is warmer and we’re all starting to feel the shift that’s coming.

I’ve been working diligently behind the scenes to arrange trips, find new opportunities, and move the family forward. I’ve been embroiled in court drama since December 2021, and there are just a couple more obstacles to knock out of the way. Once it’s done, we’re seriously contemplating moving to a new place. And a remote working visa in Europe is looking really appealing right about now. #expatlife

But we’ll see what happens.

Financially, I’m flat month-over-month, but that’s to be expected. The U.S. stock market is reeling in the wake of bank foreclosures, ongoing interest rate hikes, and the fight against inflation.

I personally managed to get everything paid for the month, plus laid out cash to get some documentation for the boys, and didn’t get to invest much. Oh, and our fridge decided to give up, so we had to order an emergency replacement – which was a whole saga unto itself.

Anyhoozers, the first half of the year was a great push forward. I’m hoping the second half will be full of progress, travel, and fresh ideas.

May 2023 Freedom update

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