One of the main purposes of this blog is for me to track my progress to financial independence which I am well on my way to achieving. Each month I share the details of all investment accounts and the changes from the previous month.
Note: if you’re just joining us you can view my most recent net worth update here.
I’ve often heard from others that once they hit an investment milestone they don’t feel any different. This month we hit the $500,000 mark in investments (up $18k from the previous month), a milestone that happened faster than anticipated. While it is true it is just a number I couldn’t help but reflect on the milestone over the weekend and how much freedom it affords us. We are fortunate to be in the position we are in and I’ll be forever grateful for finding this ‘other’ path that many have chosen to pursue. We aren’t scaling back work quite yet but it is fast approaching. Our goal is for Miss QCI to quit her corporate gig next year (after bonuses are given) to pursue a more fulfilling and less structured job in helping others. I am hoping to negotiate a 4 day workweek next year.
On our never ending quest of simplifying our lives I am happy to announce we have sold our second car! (pictured above) Since I work from home we only need one vehicle. In past years we’ve used the above car as a summer car and our other nicer car in the winter. We would cancel insurance on one of the vehicles depending on the season so we’ve really been a one car family for a while now. While that worked well for a few years it is much easier and cheaper to maintain just one vehicle. I listed the car for $1300 and sold it for $1000 (the car had several issues that needed to be addressed). Our kayaks and bikes now sit in its place. On to the numbers for the month:
Mr.QCI Net Worth
Cash: ~$18,000 (+$4000) – We recently had to pay around $2,000 to fix our car so I have saved some money to pay for this expense. At the same time I signed up for another credit card so I could benefit from the purchase (American Airlines card with 60,000 miles after $3,000 spend).
P2P Lending: $20,224 (-$1,378) – I am reducing my allocation to p2p which will be directed towards paying off my rental property, purchasing a new roof or investing in my taxable account.
401k: $54,653 (+$2,623)
Vanguard Rollover IRA: $79,162 (+$1315)
Vanguard Roth: $34,810 (+$724)
Vanguard Taxable: $108,881 (+$7,584)
Individual Stocks/Other Investments: $2,025 (-$58)
HSA (amount invested only): $17,250 (+$1,039)
Total Investments: $317,005 (+$11,849)
Assets (Zillow estimated): $383,067 (+$2,363) – I don’t necessarily trust Zillow estimates, but this is what I am reporting for now. I continue to make minimum payments on all of my mortgages. You can see my real estate holdings here.
Liabilities (3 Mortgages): ~$250,804 (Updated: January 2016 – I plan to update this every 6 months or so, but I pay down about $6,000 of debt every year)
Net Worth: $467,268 (+$18,212)
Miss QCI Net Worth
Cash: ~$4,000 (+$1,000)
401k: $77,958 (+$3,714)
Vanguard Roth IRA: $33,182 (+$624)
Rollover IRA: $4,327 (+$90)
Vanguard Taxable: $70,017 (+$2,553)
Total Investments: $185,484 (+$6,981)
Net Worth: $189,484 (+$7,981)
Miss QCI, my wonderful significant other continues to crush it as well. She puts 50% of her income into 401k (the max allowed by the company) and still has room to invest in a taxable account. The company she works for now offers after tax contributions which will allow her to roll over those after tax contributions into a Roth IRA once she leaves the company. I learned about this from the MadFientist who has been a great resource over the years.
Investments (what really matters): $502,489 (+$18,830)
Projected retirement income (assuming 4% rule): $20,099
Net Worth: $656,752 (+$26,193)