If you feel like 2020 rushed in with a fury that left you wondering how January passed without you even realizing it, then you’re in good company because I’m right there with you. And so is my Christmas tree. If it wasn’t time for us to do our monthly net worth updates, my inner calendar would probably still be stuck in the second week of January.
This year I’ve been making a conscious effort to slow things down. To leave more space in my calendar. To allow fewer things to grace my to-do list (thanks to my new favorite productivity tool). Because of that I’ve been able to be more consistent with getting in exercise, drinking water, and getting enough sleep–all of which are so important when it comes to living a long and healthy life.
I’m surprised at how quickly the time passes even with all of my efforts to slow down. And I’m surprised at how accomplished I still feel despite making a conscious effort to slow down and take more time off from the business.
Our finances are still running on autopilot this month. We are huge fans of the set-it-and-monitor-it-occasionally approach. That means deciding how much you need to set aside for your financial independence goals every month and then investing that money automatically every single month. If you haven’t been tracking your net worth, we have a great free tracker to get you started.
We’ve been sharing our monthly financial independence updates for over two years now. Tracking your net worth is a great way to measure your overall financial health. While it’s perfectly normal for the number to go up every single month (markets do fluctuate naturally after all) you want to see an upward trend over time. As your investments grow, your monthly net worth increases will grow too thanks to the magic of compounding.
DOWNLOAD A COPY OF OUR JANUARY 2020 FINANCIAL FREEDOM UPDATE SLIDE DECK
January 2020 was an especially great month for our net worth. Our investment portfolio saw some good growth. At this point Joseph and I have been consistently investing some of our income every single month for nine years now and have built up a solid multi-six-figure nest egg. Which means that the value of our nest egg can increase by thousands of dollars a month even without us putting more money in.
We also saw a huge jump this month because I paid down a significant chunk on my student loans. Yale Law School has an amazing loan repayment assistance program. It’s what made me decide to go there in the first place. Twice a year I get a large check from them to put towards my student loans. I use some of the check to make a lump sum payment on my highest interest loan and then I use what’s left over to make my student loan payments until I get the next check. It’s a pretty sweet benefit.
Watch the video above (or over on YouTube) for the full details on how our January went. And be sure to comment down below and tell us how your month went!
Important Links:
Free Net Worth Tracker
Our 2020 Financial Goals
December 2019 Financial Update
DOWNLOAD A COPY OF OUR JANUARY 2020 FINANCIAL FREEDOM UPDATE SLIDE DECK
