Hey there! How was your month? October zipped by for us, filled with Ultimate Frisbee, Wushu, ceramics classes, and ukulele lessons. Life was buzzing with activity, but we were grateful when the Fall season slowed down. RB40Jr’s team clinched the 3rd spot in the B division, a fantastic achievement. Looking ahead, they are eyeing a move to the A division come spring. All in all, life was hectic in the best way possible.
Reflecting on personal finance, October was steady. Our expenses were contained, but our passive income fell slightly below expectations. With a negative monthly cash flow of just under -$100, our net worth dipped slightly. Nonetheless, overall, we’re still on track for the year.
Let’s dive into how I’m faring with my 2024 goals and unpack our net worth and cash flow.
2024 Goals
Embarking on a new year marked by fresh aspirations, I find solace in my goal-setting routine. Here are my pledges for 2024, each bearing significance in shaping the year ahead.
Financial Goals
1. FI Ratio > 100%
– The Financial Independence (FI) ratio, reflecting passive income against spending, is a crucial metric. Our FI ratio currently stands at a commendable 113%, exceeding the targeted 100%.
2. 3% Rule
– Venturing beyond the 4% retirement withdrawal rule, we aim to maintain expenses below 3% of our investable assets this year. This is a litmus test for retirement readiness, shaping our financial prudence.
3. Track Net Worth and Aim for +10%
– Vigilantly monitoring the trajectory of our net worth, we set our sights on attaining a 10% surge this year. While external market dynamics are influential, we remain cautiously optimistic about our progress.
Health Goals
1. Exercise 3x per Week
– Prioritizing health post-50, the goal is to commit to thrice-weekly exercise routines. While October posed a minor setback due to illness, I’m resolute in my fitness journey.
2. Health Checks
– Nurturing health necessitates regular check-ups. In 2024, completion of essential screenings laid the foundation for sustained health.
Fun Goals
1. International Trip
– Celebrating Mrs. RB40’s milestone, we embarked on a memorable adventure to Japan. A rejuvenating experience that rekindled our wanderlust.
2. Happiness Level > 8
– Prioritizing contentment, maintaining a happiness threshold of 8 or higher is essential. Savoring life’s abundance emboldens optimism.
October was indeed enriching and wholesome amidst the flurry of activities. Life thrives in busyness when it is purposeful and rewarding.
Net Worth (+16.4%)
Our net worth tracking since 2006 has been pivotal in benchmarking growth. This year, a notable 16.4% increase underscores the potency of disciplined investing. Compound growth has outpaced conventional income streams, urging perseverance amidst market upheavals. The mantra endures – steadfast investment through market volatility culminates in lasting financial independence.
October 2024 FIRE Cash Flow
Navigating financial inflows and outflows, our FIRE cash flow in October channeled a nuanced interplay between income streams and outlays. Noteworthy observations include persistently growing net worth alongside evolving expense dynamics. The balancing act shapes our financial narrative, fostering prudence and adaptability.
October 2024 Wrap-Up
Summing up October’s escapades, the month brimmed with engagements and reflections. As we forge ahead toward winter’s stillness, anticipation laces our days. Life’s ebb and flow echo the sentiment of fulfillment, urging a reflective pause before the year bids adieu. Remember – passive income is the cornerstone of early retirement.
Reflecting on past victories, we embrace each challenge with vigor, inching closer to financial autonomy. Venture is inherent to growth, beckoning resilience and foresight through every nuance of our journey.
Did you enjoy October as much as we did? As the year winds down, seize every opportunity to fortify your financial independence. Explore avenues like commercial properties with CrowdStreet, unlocking a realm of potential. At the helm of your financial voyage, seize each moment with intent and purpose. Cheers to a rewarding journey ahead!
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