Today I begin my (public) journey towards financial independence, by recording the details and month-to-month changes to my net worth. Why share these kinds of personal details with complete strangers? Because I’ve been very inspired by dozens of other bloggers who have done the same., and have been so impressed with what ordinary people (like you and I) have been able to accomplish. I strongly believe that the very act of recording my progress will keep me motivated and allow me to achieve my goal of being financially independent and being able to retire by age 60.
I still need to decide upon the best way to present the data, but in the interest of getting started quickly, I’ll just include the summary from Mint.com:
So there it is. I feel we’re in pretty good shape for our ages (I’m 45, wife is 39), but I don’t feel overly comfortable just yet. As someone who’s invested through both the dot.com collapse and the great financial meltdown of 2008-2009, I know that bad things can and do happen. Some notes on the above:
- Our only debt ($29,861.90) is the remaining balance of the mortgage on our (according to Zillow) $477,000 home. We have a 15 year mortgage, but we’ve been over-paying and so we’ll own the house free-and-clear in October of 2015. Hooray! For the vast majority of my working life, this mortgage payment has eaten up a significant portion of each months paycheck, and I can hardly even imagine just how great it will be to no longer have to worry about this burden.
- The 923k in investment lived in my wife and my Fidelity accounts, and I invest primarily through following trading strategies created by the TrendTimer software that I wrote. It’s crazy and pretty stupid, but between my wife and myself, we actually have 13 separate accounts! Here’s how they look
I wish there was a better way to consolidate these, but at least Mint can provide a summary of all of these. In addition to Mint.com, I also use, and highly recommend SigFig which is somewhat like Mint, but is more geared toward tracking financial accounts. When the markets are open, it provides a minute-by-minute update of all our holdings. Some people are addicted to crack cocaine. I’m addicted to checking my portfolio on SigFig