August 2020 Income Statement

In August, we had a really great income month but we also spent a bunch of money too. Our total income in August was $37,075.15!  In addition to our regular paychecks, I received a monthly bonus of $2,141.00 gross ($1,175.33 net).  My wife also sold her company stock for $25,698.14!  Plus, we earned $14.14 in interest income from our savings accounts. This month, our expenses totaled $20,021.29!  Large expenses included $839.21 in vacation, $800.76 boat property tax and $1,574.70 in Read more [...]

August 2020 Net Worth Update (+$42,629.34)

Overall We officially became millionaires in August! We passed our net worth milestones of $1,000K, $1,010K, $1,020K and $1,030K. Our net worth increased $42,629.34 from last month to a total of $1,033,051.25 (see spreadsheet screenshot).   Such a blessing! Retirement Accounts Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 8% to my wife’s 401(k).  My wife’s company matches up to 6% of her 401(K) contribution Read more [...]

NET WORTH MILESTONE: $1,000,000!

We passed our net worth milestones of $1,000,000! I started tracking our net worth in 2007 when we had a negative worth. 13 years later, a snapshot of our finances look like this: $465K in retirement savings$82K in brokerage accounts & cash$53K saved for our kids' college (age 8 and 6)Paid off 2017 SUV$355K in home equity (actually $463K equity using current comps instead of our $528K purchase price) Our net worth is currently $1,001,678.16, making us officially millionaires:) We passed Read more [...]

July 2020 Income Statement

In July, we had our best income month ever! As I mentioned in our June net worth update, wife’s company had been restructuring and she accepted the severance package because she found a new position with another company making a 10% higher salary. Our total income in July was $88,132.45!  In addition to our regular paychecks, I received a monthly and quarterly bonus of $4,964.00 gross ($2,725.04 net).  More importantly, my wife’s received a $72,614.24 severance/cashed out vacation Read more [...]

July 2020 Net Worth Update (+$87,101.96)

Overall July was one of the best months for our net worth. We passed our net worth milestones of $910K-980K this month. Our net worth increased $87,101.96 from last month to a total of $990,421.91 (see spreadsheet screenshot).   Retirement Accounts Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs.  We contribute 8% to my wife’s 401(k).  My wife’s company matches up to 6% of her 401(K) contribution and chips in an additional Read more [...]

Our path to financial independence and retiring early.