At the start of each month I share my net worth publicly because I want readers to be able to track my financial journey from the very start all the way to financial independence. I first started tracking my net worth in August of 2016 and have been posting monthly updates ever since.
Here are my numbers for July 2017:
|Money Market Funds|
|Savings Account||$2,550 (+$1,501)|
|Checking Account||$1,057 (+$779)|
|Total Money Market||$3,607 (+$2,280)|
|Tax Advantaged Accounts|
|Traditional IRA||$3,731 (-$85)|
|Roth IRA||$4,523 (+$322)|
|Total Tax Advantaged||$22,983 (+$1,812)|
|Non-Tax Advantaged Accounts|
|Brokerage Account||$16,421 (+$661)|
|Total Non-Tax Advantaged||$16,421 (+$661)|
|Net Worth||$43,011 (+$4,753)|
Here’s a look at my net worth progression since I started tracking it back in August of 2016:
From June to July my net worth increased by $4,753!
This was just another ordinary month of saving a huge chunk of my paycheck from my 9-5 in addition to earning over $1,000 in tutoring statistics on the side.
I continued to funnel money into my 401(k) account, which consists of a simple 80/20 split between an entire-market stock index fund and an entire-market bond index fund. I also dumped some new money into my brokerage account specifically in VYM, the Vanguard High Dividend Yield ETF.
My end goal with all these monthly net worth updates is simple: Many years from now when someone asks me how I quit the rat race decades before my peers I can just point them to these monthly net worth updates and say “Nothing fancy. Just hard work and a high savings rate. That’s it.”
That’s really what my financial journey has been up to this point: find a 9-5 job that pays an above-average salary (data analytics) and save a huge portion of each paycheck, then side hustle (statistics tutoring) whenever I can to earn even more money. I’m a firm believer in the idea that anyone can spend just a few years in their 20’s grinding and building up a stash of money in order to live the next 60 years however they want in complete control of their time.
In other news, I found out yesterday that I landed a new data analytics job in Ohio which I’ll be starting later this month! It sounds ridiculous, but part of me is happy I got the position because it means I’ll finally be moving out of my parents house and getting my first taste of tracking expenses, potentially riding a bike to work, living like a minimalist, and all other sorts of first time experiences which I’m excited to share and blog about extensively.
To everyone that has been following my financial journey up to this point, thank you and I hope you keep checking in each month. If you have any questions for me or want to discuss your own financial journey feel free to shoot me an email at firstname.lastname@example.org.
That’s all for this month’s net worth update, thanks for reading 🙂
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