Author: Tyler Durden
The greatest fear of any retiree, except for death/disease of course, is running out of money. It's the kind of thing that keeps you up at night as the thoughts of becoming homeless and fighting off dogs for food enter your mind. Ever seen the original Mad Max movie? If you follow any of the other FIRE (Financial Independent, Retire Early) bloggers though they all talk about how ridiculous this fear is. Of course this doesn't help much because it's kind of like telling somebody at the beach how rare a shark attack is as they're in neck deep water. Until you get into the water though and make it back out alive, can you really tell what it's like? So what has happened to my net worth now that I've been retired for 3 months? I'll show you...
Real Estate - $853,000
Retirement accounts - $219,744
Brokerage - $94,039
Cash equivalence - $31,596
Other - $2,850
Real Estate Mortgages - $405,233
Net Worth: $795,996
My net worth increased by 0.6%, which is pretty average. I had to buy a new AC unit for a rental that knocked me for around $4k. The good thing was that was offset by a bonus at work for around the same amount. I'm getting desperately close the $800k mark. When it happens it'll feel great for a few days, but then it's back to work. I'm scheduled to hit it by the end of the year so the sooner the better.
I need to start working on the $900k as soon as possible because I think we're headed for a crash in the next couple of years.
Real Estate - $853,000
Retirement accounts - $220,999
Brokerage - $84,194
Cash equivalence - $30,141
Other - $9,317
Real Estate Mortgages - $406,014
Net Worth: $791,638
I had a net worth increase of 0.5% for June, which is good, but I would seriously prefer to see an increase of 1% a month every month. Since I never adjust my net worth for real estate price changes I realize this may be understating it.
I've seriously been looking at investing money with some real estate crowdfunding organizations. I'd like to see a more real cash-on-cash return closer to 8% for the year and closer to double that for the total return. The stock market is waning and I need a place where I can invest the cash flows from rentals into something else.
This website was created due to the atrociously misguided financial advice that I've heard over the decades. Financial freedom is not intellectually strenuous, but it takes discipline.