To be honest when we decided to reboot our Financial Independence project we were not sure if we wanted to continue the practice of posting our net worth and savings updates. We have actually had a lot of debates about the idea of maintaining privacy versus being open about our finances, and for now we decided to continue to be open about where we are financially and post our numbers. Ultimately it comes down to trying to break down the taboo of talking about finances and numbers openingly versus having what many others call stealth wealth. For me personally I think the secrecy about personal finances and numbers are what cause many of the inequities and problems in personal finance today. People are scared to talk about their personal finances, or they use material status symbols to try and portray a picture of wealth that may not actually represent the underlying financial picture. Either way for now we are going to continue to be open with our numbers both for philosophical reasons, and the fact that personally writing everything out promotes more awareness and accountability as we pursue our FI goals.
So as of May 31st, 2019 (the official start of our FI Project Reboot) this is our current financial position:
| ASSETS | TOTAL | MONTHLY CHANGE | % CHANGE |
|---|---|---|---|
| NET WORTH | $896,948 | - | - |
| Checking Accounts | $2,534 | - | - |
| Savings | $8,019.01 | - | - |
| 403(b) | $144,791 | - | - |
| 457(b) Account | $60,079 | - | - |
| Roth IRAs | $62,553 | - | - |
| College Savings (529) | $2,644 | - | - |
| Taxable Brokerage Account | $108,083 | - | - |
| Real Estate Property 1 | $225,000 | - | - |
| Real Estate Property 2 | $167,000 | - | - |
| Primary Home Value | $428,000 | - | - |
| LIABILITIES |
|||
| Mortgage | ($311,755) | - | - |
As you can see we are rebooting this project with fairly good numbers that puts us in a good position to meet our goal of Financial Independence in about five years or less.
I realize that since if you are new to our website, there is not a lot of context or backstory as to how we arrived at this point, but is something we will address in several posts I have planned in the near future. This includes the 18 month gap between our last update and today. Even without all of the context and details I feel it is important to get our numbers out there right at the start of this reboot.
In our next update I will provide more details about our monthly spending, savings and growth rates.
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