It’s a rarity, but we have had a few days off together and have used the opportunity to take our dogs for walks in the frigid Maine woods in January, go shopping, hang out and watch some TV, take down Christmas lights, and yes write blogs!
So, the biggest update for the day is that our retirement accounts have passed a major milestone this week. Our “Net Worth” as far as we are concerned is $101,484.99!! We believe that it is very important to take note of milestones and be proud of them. This month afforded us the ability to max out Rory’s Roth IRA for the year ($5,500) and hit our goal for the month of adding to our index fund ($4,000). 5 years ago, both Kristen and I had roughly the same lifestyles in terms of how much we spent, what we did for fun etc. We didn’t know each other yet, and didn’t have a very strong approach to how to save for retirement. Truth be told. I simply did my 4% match at my hospital job, Kristen did the same, and I don’t know that either one of us could have told you what IRA’s were or how they worked. We lived very much like roughly 80% of the population, paycheck to paycheck for all intents and purposes. We can’t imagine 5 years ago thinking about having $10,000 cash and no real consumer debt, let alone $100,000. It’s a pretty big deal for us… We are 1/10 millionaires!
FREE Information is GOOD information
We wanted to clarify in this blog, and I’m sure we will write more about it in the future, that none of our ideas are new ideas. The most inspiring thing for us is the idea that all this information on how to do what we are doing is 1) proven to work! And 2) Free! In just about any format you can imagine, there are folks discussing how they retired by 30, 35, 40, 45, 50 etc. They all did it roughly the same ways, and have been living in those ways for years now. We personally read blogs, watch YouTube channels, and listen to podcasts on the topic, and yes, they are all FREE. So, if by some strange circumstance this is the first place you have stumbled upon on the topic of early retirement, keep it up, you won’t be disappointed on the quantity and quality of FREE content out there that will educate and inspire you on your own path to financial freedom.
In the next blog, we will do a bit more boring stuff (we are trying to get most of it out of the way early on so we are done with putting our numbers out there) and will explain a little more about our income.