When I had the idea that I was going to write about our Financial Independence project I had all of these neat ideas for what my website would look like and the features it would include. At some point I decided that I needed to focus on getting content up and build the website around it, so that is essentially what I am doing now. So hopefully in the near future I will have a page dedicated to tracking our financial progress that I can add to once a month, but for now I will start with a post to give an update on our current financial progress and how far I think we are away from our project goals.
As of January 1st, 2016 (the official start of our FI project) this is our current financial position:
|ASSETS||TOTAL||MONTHLY CHANGE||% CHANGE|
|NET WORTH||$602,954 ||-||-|
|Checking Accounts||$4,736 ||-||-|
|Florida Retirement Plan||$43,302.84 ||-||-|
|457 Account||$5,660.66 ||-||-|
|Roth IRAs||$3,921.51 ||-||-|
|Traditional IRAs||$53 ||-||-|
|College Savings (ESA & 529)||$6,547.81 ||-||-|
|Taxable Brokerage Account||$64,126.91 ||-||-|
|Real Estate Property 1||$185,000 ||-||-|
|Real Estate Property 2||$167,000 ||-||-|
|Primary Home Value||$224,500 ||-||-|
As you can see we are starting with fairly good numbers that puts us in a good position to meet our goal of Financial Independence in five years. I also realize that since I have just started this website, there is not a lot of context or backstory as to how we arrived at this point. It is something I hope to address in several posts I have planned in the near future, but I feel it is important to get our numbers out there right at the start of this website. If I can get all of my past numbers together I might also take a look back all the way to 2010 to see the change over time to this point.