JOURNEY TO FINANCIAL INDEPENDENCE

Net Worth Updates

 

Tracking my net worth is an essential piece of my Financial Independence (FI) Journey. Posting my net worth updates publicly keeps me accountable and will hopefully, inspire others on a similar journey.

I officially started tracking my net worth in September 2016. I started with a net worth of $60,483 and aiming for ≥$800,000 by March 20th 2024, when I turn 42.


Net Worth Updates (2017)


Net Worth Updates (2016)


Net Worth Goals

  • Short term (<12 months
    • December 2016: ≥$75,000 (Goal Met Dec 2016)
    • June 2017: Become debt free! (Goal Met March 2017)
    • March 2017: ≥$100,000
  • Long term (> 12 months)
    • March 2018: ≥$175,000
    • March 2019: ≥$250,000
    • March 2020: ≥$350,000
    • March 2021: ≥$450,000
    • March 2022: ≥$550,000 -> Age 40
    • March 2023: ≥$650,000
    • March 2024: Net worth ≥$800,000 -> RETIRE (Age 42)

I plan on achieving this by following these simple difficult steps

  1. Pay off my outstanding debt and avoid future debt at ALL COSTS
  2. Spend less than I earn (target savings of 65-75% of my income)
  3. Invest the difference in low cost index funds