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.
January is officially in the books! As we shared last month Miss QCI has officially left her corporate job and is now into her second week at the new job. With all new jobs comes a learning curve and Miss QCI is still figuring things out. It remains to be seen whether this is something she will enjoy long term. On the financial front she received a check paying out about 5 weeks of vacation from her previous employer.
It’s been pretty cold lately so we’ve been enjoying plenty of fires and playing board games together. For the fellow board game geeks we’ve been playing 7 Wonders Duel and Battle Line. Both two player games, both fantastic.
We also began the planning stages of our next vacation to Hawaii in April. This one, like our last trip will include some travel hacking. Our last trip set is back just over $1300 and I am envisioning this trip to cost us around $2,000 total for 8 nights. I plan to report back on the blog because Hawaii is an amazing place to visit and is accessible to many people with a little bit of travel hacking.
In February we will receive our first full month’s rent on our new rental ($825). Rent had initially been discounted from the people I purchased it from and the $100 discount I provided to the new tenant to sign a lease starting January 1. It always helps to entice tenants with money to prompt action.
In our last net worth update I provided the list of everything that needed fixing at our new rental. The previous owners had not fixed a few things, causing some head scratching on our part. One of the fixes, a loose handle on a Moen faucet (Moens are the best by the way!) took me just a few minutes to fix after a quick YouTube search. I only had to use the faucet a couple of times before the cursing began. How can you leave something like this unfixed!?! You literally had to reach around the back of the faucet to lift the handle up to turn it off and on. I digress…
Another problem was the toilet which ran frequently due to the crappy flapper (pictured above). See that gap towards the top of the picture? Yeah, that’s not good – they were literally flushing money down the toilet for who knows how long. This type of thing pains me and is further proof that some people should probably just rent. I purchased this Korky flapper (pictured below) in hopes it would solve the issue with water leaking into the bowl. It cut down significantly on the leakage, but the water still kicked on every hour or so as water leaked into the bowl (we verified by putting food coloring in the tank). While I would have continued to troubleshoot if the toilet was in my house, I reluctantly decided the best course of action was a new toilet. This is one of those “how much is your time worth” decisions. In under 2 hours, including time to the hardware store Miss QCI and I installed a new toilet. It was a record! – and set us back only $90.
On the net worth and investment front our accounts continue to grow even as I scale back investments. I am only contributing to the match with my 401k and Miss QCI doesn’t have access to a 401k anymore. We’re quickly approaching what I like to call a Mr.Money Mustache retirement which is $625,000 in investments. We are both saving quickly to pay off one of our rental properties.
Mr.QCI Net Worth
Cash: ~$20,000 (+$5,500)
P2P Lending: $10,110 (-$787) – I am reducing my allocation to p2p which will be directed towards paying off my new rental property)
401k: $78,297 (+$4,129)
Vanguard Rollover IRA: $88,218 (+$2,641)
Vanguard Roth: $40,603 (+$2,051)
Vanguard Taxable: $129,381 (+$6,106)
Individual Stocks/Other Investments: $2,135 (+$37)
HSA (amount invested only): $22,913 (+$222)
Total Investments: $371,657 (+$14,399)
Assets: $475,000 – This is the estimated value of my properties based on the purchase price and some appreciation our area has seen over the past few years and includes sweat equity. You can see my real estate holdings here.
Liabilities (4 Mortgages): $288,570 – (Updated: January 2018 – I plan to update this every 6 months or so, but I pay down about $10,000 of debt every year)
Net Worth: $578,087 (+$19,899)
Miss QCI Net Worth
Cash: ~$15,000 (+$5,000)
401k: $108,418 (+$5,781)
Vanguard Roth IRA: $37,531 (+$1,471)
Rollover IRA: $5,043 (+$254)
Vanguard Taxable: $81,646 (+$4,140)
Total Investments: $232,638 (+$11,646)
Net Worth: $247,638 (+$16,646)
Investments (what really matters): $604,295 (+$26,045)
Projected retirement income (assuming 4% rule): $24,171/year
Net Worth: $825,725 (+$36,545)