Bye, Oklahoma! A lot happened there—like, a LOT—and I’m glad to say goodbye to that place. As of this month, we’ve officially moved for a better school district and to get a fresh start. I first moved to Oklahoma City in October 2021.
I was sad for a week but over it now
Our old house is listed for sale as of March 1.
Considering August 2024—seven more months—is the goal date to save $500,000, that could push me ahead, move the dial back, or be uneventful. I already got the estimated proceeds of how much I’ll get if it sells for the listing price.
Also, until it sells, I’ll pay rent for our new place plus mortgage on the old place. We’re renting now which feels… different after owning my house (and before that, a condo). So far, it’s been freeing not dealing with the stuff of ownership.
I’d like to buy again eventually—but, one thing at a time. Anything could happen this month (this year, this lifetime). But in this moment, I’m at yet another net worth high (and will never tire of typing that).
March 2024 Freedom update
Praying the house sells fast so I can tightly close the Oklahoma chapter. I thought about keeping it as an investment property, but it isn’t ideal for that.
I hate to give up that sweet 3% mortgage rate because that is NEVER coming back, and my housing payment will never be that low again. But it was time.
Since we left, our family has experienced a lot of healing. That, combined with the overall sense of peace I have about everything, makes it more than worthwhile.
Our old living room
Between the new baby’s birth (we have an eight-week-old baby girl), the move, and having to pay for two places for a while, it’s been tough financially and I am fraying. But I’ve maintained my 401k contributions and should be able to pay off any lingering debt—and invest again—after the house sells.
The main area I want to focus on is padding my savings, because it’s dismal. I’ve blown it all on the many things we’ve experienced in the last year or so.
This month’s progress
Should probably be “this month’s setbacks.” Yet, somehow my investments are buoyant enough to keep me afloat despite all the expenditures. It’s incredible how they have a life of their own.
A whole house worth of stuff in one room
The move cost about $4,000, and I had to come up with a security deposit on the new place. I also spent money on food, gas, packing supplies, a few small repairs, things we needed to get moved in, and of course, every grocery trip is $200 minimum.
I got my tax refund, which was ~$3,000, but that went toward repaying everything. We’ve crash landed a bit in this new place, and it’ll take a month or two to regain balance. For now, I’m going with the flow and looking ahead to sorting things out one bit at a time.
To recap this month, I:
- Spent $4,000 to move out of Oklahoma
- Got a $3,000 tax refund, which is already *poof* gone ✨
- Rented a new place and paid a security deposit, pro-rated rent, and first month of rent
- Continued paying my mortgage and hoping the house sells like, today
- Upped my 401k contributions by a percentage point
- Still got more gains from a strong stock market to reach another new net worth high
These sweet brothers
By the numbers
Whew! I’m amazed at what a release this is, to type it all up in this way. It feels like a lot and it is. Deep breath.
| Current | Last Month | Change | 2024 Goal | ||
|---|---|---|---|---|---|
| ASSETS | |||||
| Overall investments | $275,652 | $263,526 | +$12,126 | As much as possible | |
| Roth IRA 2023 | $65,731 | $63,213 | +$2,518 | $6,500 (in new contributions) | $4,000 so far! |
| Roth IRA 2024 | $0 | $0 | xx | $7,000 (in new contributions) | Starting May 2024 |
| Taxable brokerage + UTMAs | $3,634 | $3,495 | $139 | $25,000 (total invested) | |
| Savings | $418 | $472 | -$54 | $30,000 | |
| Primary home equity + appreciation | $61,524 | $53,005 | +$8,519 | $70,000 | |
| Raw land | $40,400 | $40,400 | xx | No goal, just including for completeness 🙂 | |
| LIABILITY | |||||
| TDB | ? | ? | ? | ||
| Net worth in Empower Personal Dashboard | $361,560 | $349,887 | +$11,673 | $500,000 (overall goal) | Track your net worth with Personal Capital |
My biggest takeaway this month is: After the house sells, I need to rebuild my savings.
That’s been a weak link for a while, and it’s time to focus on that. I’ve been prioritizing investments, but these last few months highlighted the need for sweet liquid cash.
Other than that, wow, compound interest is magic.
Somewhere over Arkansas
Short- and long-term goals include:
- Put more money into Beck’s UTMA
- Contribute to new baby’s UTMA
- Finish maxing out my Roth IRA for 2023 (next month is the deadline!)
- Build my savings account again in 2024
- Start on 2024’s Roth IRA
- Work up to 15% in 401k contributions this year
March 2024 Freedom update bottom line
- Link: Track your net worth with Empower Personal Dashboard and get a $20 Amazon gift card (this is where I pull all my numbers from each month)
- Link: Join Yotta (a lottery-enhanced savings account) and get FREE lottery tickets! Do it do it do it!!!!
I was in this exact scenario in April 2020 with selling my Dallas condo. Of course, that was mid-pandemic and three kids ago, but it’s not lost on me that I’m once again repeating this pattern.
Nor that, like then, I’m at another new net worth high. I’m also feeling grateful that my past self built a set of investments that live and work completely outside anything that’s going on in my life—no matter how big or small my personal changes are.
Back then, the condo eventually sold and I got the money and life continued. I’m certain that will be the case again as I continue to vault toward the $400,000 mark. And it’s so crazy to me that my investments are about to touch $300,000: my third $100K.
I’m at peace with everything that’s happened in the last month. Moving was good and necessary to be away from a place that contains so much (good AND bad) history for our family. But now we’re starting a new phase, Warren will soon begin kindergarten at a fantastic school, and we’re in a community where we can move around and be physically active. Plus, we feel much more supported—which is worth everything and more.
Seven months to go until August 2024 (the date I originally wanted to reach my $500K goal). No doubt there will be (seven more ) shifts until then. As long as I’m into the $400s, I’m good. Now I want to see how far in I can push it. I watch with invested (lol) yet detached amusement.
As always, thank you for reading and following my journey. Hope everyone is doing well!
Stay safe and scrappy out there! ✨
-H.
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Congrats for all the good things happening in your life. Am rooting for you!
As you know I’ve gotten pretty serious about personal finance over the past 4, 5 years. I think you’ve done a phenomenal job in your journey so far. Far too many people have no idea where their assets and liabilities are, and can’t even do up a balance sheet of their own. Having the balance sheet down and a plan is half the battle won.
In your case, it’s great to have a goal (they say reach for the stars, and if you fall short you fall among the clouds). But perhaps avoid trying to do too many things at once, and focus on one or two major priorities. As you mentioned, having liquid savings is so important, so perhaps spend the next few months building that back up. And also I would recommend focusing on your retirement accounts over UTMAs/529s, since there’s no such thing as a retirement loan (as opposed to student loans).
All the best, and keep posting! DM me on instagram and would love to talk further.