This is a short post and update on the Net worth. My last net worth update was in August 2019, when I was around $185,000.
Today we are about 36% above that previous number.
We have had few hiccups due to our car accident. This spiraled down into a train of expenses that we did not expect but thanks to our financial discipline we have saved up an emergency fund that has been a life saver.
We were in need of a different car after the accident, we got it. We did get a small loan because, why not? I may pay it off after we settle the car accident with the insurance, but in the meantime I prefer stashing the cash.
I also had the opportunity of getting another car for an awesome price and then selling my current vehicle; that was another expense that I’m expecting to make back when I sell my current vehicle. I may even make a decent profit.
The rest is the same as usual. We got a budget. We have automated everything so that every time I get my paycheck, money gets withdrawn and deposited right into our savings account.
Looking into your net worth is a great exercise. I love Personal Capital and how easy it is to analyze where you are.
Just few years back I had nothing, but a credit card with 9K in the red. I felt like I was drowning. I felt like there was not progress regardless of how much I worked.
Today I feel excited about my finances and my future retirement. I feel that I am in charge of my money and I feel how little by little that money is freeing my mind from the daily oppression of having to work to cover my basics.
We are considering plunging into buying another property. We are debating if we should go for another rental near us, or a vacation home with potential to rent on a weekly basis through Airbnb.
I am wondering if we can keep that 36% growth rate for the next five years.
Please feel free to share any ideas and opinions you think may help this family of six(Plus one) on their FIRE journey. I am thankful for being able to share this adventure with you.
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