The Financial Independence Project

November marks the sixth consecutive month of net worth updates we have shared on The FI Project! At first we were really hesitant about how much we wanted to share on this blog, but in the end we wanted to be fully transparent and open with all of our numbers, unique circumstances, and our personal path. I will admit putting all of this on the internet can be scary, but we are trying to share a story and the journey of how we are achieving financial independence. This narrative is different than the typical narrative that seems to have become standard (or at least promoted) in a lot of media on the topic of financial independence.

Ultimately we think that every path to FI is unique but there will be some things others may be able to replicate, or learn and apply to their own personal situation. As a teacher and a researcher my hope is that anyone reading this blog views it as only one of many possible perspectives and paths that they will read and draw from to determine what can be assimilated into their own personal circumstances. That has been my approach to financial independence for years, and I enjoy adding just one more unique voice.

So now looking at our progress this month we had quite a jump in our net worth. At the end of November our net worth grew to $984,100 with most of that increase coming from gains in the market. If only gains could continue at this rate (they can’t), we would be wrapped up pretty soon!

October was a great month filled with travel, personal development, and a lot of self reflection both about financial independence, and life in general. This was the first month in a while I have had time to really focus on myself and our future. Work was of course still present, but it was much more calm and I had a lot less meetings! Most importantly the whole family went on a trip to the west coast last week, for an off-peak vacation. For seven days not only did we spend that time with each other, but I was completely disconnected from the internet which is always refreshing. During the middle of October I attended the Cents Positive Retreat in Chicago, and it was an amazing experience that I wrote about a couple of weeks ago, and I can’t wait for an opportunity to attend again in the future.

Financially things were pretty stable this month with a slight increase in our savings amount thanks to some clients finally paying my wife. Net worth increased while spending was about the same from last month, although spending was still higher than our average monthly target. This is typical and expected since we have variable expenses throughout the year (mostly kid or travel related) and our budget is designed to focus on average monthly spending rather than a set amount each month.

September is over and in many ways I am happy to see it end. In general I think that every September tends to be my busiest and most hectic month of the year. This is typical when Fall classes are in full swing, everyone wants to meet (committees and individuals), grant applications are due, research and writing picks back up, and administrative tasks seem to be at their highest. Throw in a lot of travel (both personal and work), adjusting to two separate drop-off and pick-ups for the kids, and a bunch of side-work at night and I am truly exhausted. Moving forward I expect things to settle down as they have in years past as many things start to become more automated and efficient for the rest of the year, at least with work.

From a financial perspective, this month was pretty much like the last month and luckily almost everything is automated. Our net worth decreased slightly even with the additional retirement account contributions, but that really is to be expected in the short term. So for our fourth consecutive monthly update, here are the details…