Millennial Couple Shares How They Invested over $50,000 in 8 months
Table of Contents
Thunderstorms, Repairs and Investments
Next Goal for us: How to top the Business Insider Feature.
August rushed out the gate, capturing all the gains that left July wanting. By mid-August, our net worth was poised to hit $600,000.
The Delta variant came roaring back in and uncertainty took hold for a week. Besides the investment market drama, we landed closer to our expectations.
Our household is not going steady with getting fit which adds to our overall budget since it requires equipment, gas back and forth from the gym as well as healthier food choices and Solid MACROS.
Disasters Struck again but we persevered. With that said, let’s get into the details.
New to TNFG?
If you are new to my content, this article will showcase the TNFG monthly Net Worth Breakdown for August 2021 where making money make sense. Additionally, there are always usable financial nuggets and aha moments that might help you along the way.
I’ve also been known to be the most transparent financial literacy person on social media, you can even peep out household’s mortgage payoff plan below:
A Million and one Limiting Beliefs in August
He Who Can…
Not sure when it started but my limiting belief meter has been broken for a while. Minus physical limitation for example being Tall or running fast, which are often innate abilities derived from a roll of the chance, anything that someone can do, I can do it too. Especially if there are instructions.
I walked to school for miles in Haiti because I could. Ended up joining the Marines because I heard it was hard. As crazy as it sounds I walk from one city to another on a whim before. I really cannot process a universe that’s layered in CAN’T.
Even though there are always rules, there is always a trick to the game. My wife and I learned that hard and challenging times are par for the course. They will happen. To mitigate them, you have to start vigilant and work towards better outcomes today.
You will have to challenge yourself to Limiting Beliefs to change your trajectory. Check out the video (below) for tips on how and why:
Investments since August 2016 to 2021
Incredible Growth
As you can see above, our household investments have been phenomenal overtime. Keeping pace with the S&P even though we have slow moving mutual funds in our Health Savings Accounts and the International sector are dragging.
To think, I started with $500 rollover into my 401k in 2014 when I started as a Federal Auditor. Learning how to make the dollar stretch, I focused on:
- Investing to match in the 401k,
- Paid down credit card debt agressively,
- Increased my 401k contribution until max (ie limit $19.5k for 2021),
- Started to invest in a Traditional IRA (ie limit $6k for 2021) and Health Savings Account (ie limit $3.6k for 2021),
- Got more money back during tax season, and
- Reinvested some more.
Continued this method until my wife joined forces with me in 2020 when we got married. Our 2021 strategy is listed in the table below.
Intentional Living – Investing while Paying Off Debt in 2021
| Matching Contribution | Total | ||
| 401ks | $26,000 | $7,000 | $33,000 |
| ROTH IRAs | $8,000 | $8,000 | |
| Health Savings Account HSAs | $4,300 | $500 | $4,800 |
| After Tax Brokerage M1 Finance | $7,250 | $7,250 | |
| Group Investments | $2,000 | $2,000 | |
| Total Investment Contributions | $55,050 |
Investing Goal remaining from September to December
Since we are investing while paying off debt, it’s a long way to Victory but it’s been rewarding. The goal by the end of this year is about +$80,000 investment contributions. We are investing a ton mainly because it reduces our tax liability for the year.
My wife and I aren’t skipping on fun but the pandemic is slowing down travel. I guess we have to get creative. We did watch Titans on HBO Max and it was a terrible mistake. As of now, it’s all about getting together with family and friends in the Fall.
Here’s the Quick Summary:
What Happens Next!
Not much to report. I guess the best news is that we are launching the podcast so you will see that soon.
Overall great increase in August for almost +5.00%. Home valuation edged upward by +$1,100.
Wrote an article about the benefits of Ownership over Renting.
The true cash value was almost $30,000 which is incredible and hoping that we keep at least a $20k per month increase to close out the year.
The financial nerds say that the S&P has another 7% to go this year. We will see. Besides that credit card debt is melting away, proving that the wealth velocity is wonderful if you have a great financial plan.
What did Our August Expenses Look like?
Wow Food costs are through the rough.
We are really spending over $1,000 per month on food now. I’m hoping this trend doesn’t continue and is somehow fluke.
We purchased new mattresses so that sent our housing cost up to +$3k but this should dive back to less than $2k territory in the fall.
Our roof leaked again thanks to the third floor neighbor but we caught it early and they repaired the issue for now. While it’s not convenient at least, we didn’t come out of pocket.
More repairs happened in Rental Property since the contractor missed one plumbing issue that led to a leak. God is good since it’s all under warranty. The Tenants are settled into the rental in Florida. We are looking to send them a care package for September as a show of our gratitude since nothing stays perfect. Having tenants that you treat right, can lead to a great relationship over the long term.
We do need to curtail shopping even though most of it are re-upping essentials. It’s an epic level budgeting disaster happening. Happy that the net/max plan is keeping us safe.
Income from my wife’s consultation are wrapped up in the Business services section which is helping to reduce our monthly expenses. The Negative means that we brought in almost $2k more than we used this month, beyond our income tun tun tunnnnnn.
Our YTD investments for the last 8 months at $52,820 while our total debt repayments were $71,462. We are definitely cooking up a financial storm this year.
Takeaways for August
Grow Up – Let your destination match your mindset
While it might sound mean, in truth, we will all have to grow up one day. Make today the day where you start to believe in yourself, your family and your trajectory. For good or for bad, you have to act because all the world is a stage.
China is restricting video games for their kids for only three hours per week from Friday night to Sunday Night. They realized that sometimes you have to change your entertainment lifestyle to change the wealth and prosperity outcome. No matter if you like their approach or not, they figured it out.
No one is going to do it for you.
What is the Next Step for Us?
Still working on e-Books or other items for the website
Beyond that here’s our overarching goals for 2021:
- Keeping our expenses where they should be. “So stop equating happiness and social acceptance based on the money you spend.“
- Get to $35,000 in M1 Finance focusing on Growth and Dividend Income that generates at least $2,500 in passive income in 2022. Check out the portfolio in real time. If you like the platform and want to start investing, I have the $50 for $50 referral if you need it (Limited Time) – https://m1.finance/SYdqDJ2SyADC.
- Shooting for a sustained investment rate with the push for $1 Million net worth in 2 Years. To help monitor your savings, cash flow, net worth, investments, retirement and more FREE with Personal Capital! Sign up with my link & get $20 Amazon gift card. *Terms apply. https://pcap.rocks/lawrencegonz
- Kick off Paid content on the website and write a book. You aren’t important unless you have a book. lol
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