Budget Update: 2018-09

Every month I will post our actual, to-the-penny earning and spending for the month before. These numbers account for every dollar of real spending for a family of three in a high cost-of-living area, and they are the results of years of practice at frugal living.

Since my goal is to reach financial independence with a nest egg of just one million dollars at a young age, frugality is the name of the game for us.

Budget Update

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Mortgage Freedom: 2018-10

We’ve done it! Another month closer to mortgage freedom. I have posted before that home equity is one of the three pillars of our financial independence, and writing that big, hard-hitting mortgage payment is one of my favorite things about the beginning of the month. It yields a big, juicy 3.625% return that is tax free (since we take the standard deduction), has no volatility, and is absolutely guaranteed.

Not to mention that it means we’re that much closer to not owing anything to anybody, which is worth its opportunity cost to me in peace of mind!

Mortgage Update

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How We’re Investing for Retirement

Thanks to the magic of the internet, investing across many different asset classes is now virtually costless, easy, and instant. With that freedom, however, comes the risk of becoming confused or bewildered by the broad array of choices that we have available.

I personally invest across three primary categories: stocks, pension, and home equity.

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Independence Fund: 2018-09

At the end of every month I will total up my net worth by accounting for market price changes and savings added to each of our three main wealth categories: stock investments, my pension account, and our home equity. This is my favorite bit of math each month–it just shows how much progress I’ve made and keeps me motivated by showing how much more I have to go.


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Chasing Freedom

This blog marks the beginning of a new journey in my life–the second half of my race toward Financial Independence/Retiring Early, and I am truly on FIRE for it! My family and I have been on this journey for about five years, since we first discovered dividend stocks in early 2013, just a few months after buying our house.

Since then, I have ploughed as much money as I can into useful ventures, including retirement accounts, taxable mutual funds, and paying down our $278,000 mortgage. We earn about $105,000 per year in an extremely high cost of living area where the median income is around $80,000. We’re comfortable, but far from wealthy here.

I am currently 31 years old–nearly 32. My goal is to reach a $1,000,000 net worth capable of generating $30,000 per year in passive income by the time I’m 35, and thereafter declare myself financially free!