New July Milestone – $1 Million in Assets in less than 10 years

July ushered in a BIG TNFG win late in the game. So new phone who dis?

We reached a whopping 1 Million dollars in assets in less than 10 years. While it would be quite some time until I met my wife (Nov. 2017), I was already working on financial freedom. And throughout the process, we share every tip, tool, and strategy. Can’t say, we never tried to help.

One Year Since the Business Insider Feature, a Puppy and Inflation-Investments

While July didn’t start off with the net worth total we wanted, it ended well.

With inflation hitting a new peak of 9.1% in June 2012, the Federal Reserve chair took swift action to increase interest rates by 75 basis points. The market rallied from the news which sent stocks soaring. Redefining a recession worked, I guess?

This helps our investments grow by leaps and bounds as we reset for the latter half of the year.

It’s important to note that credit card balances went up by 13%. Although productivity is seemingly up and unemployment is at a new low, we are still very much in a recession.

To compensate, the average American will have to make a tough choice. Get off the Hedonic Treadmill, so that you can win a life instead.

With that said, this article will showcase the TNFG monthly Net Worth Breakdown for July 2022 where making money make sense. In addition to our household wins and losses, we always drop useful financial nuggets and aha moments that might help you along your financial freedom journey.

A Million More Mental Problems and MonkeyPox in July

I guess we are back to our new pandemic and viral normal. Check out your friends as we cope with another global health crisis in which money dwindles to food, gas, and utilities.

As difficult as it may seem, we’ve been in this staggered lifestyle for almost three years. And it hadn’t been easy on most people. The best way to cope is to start with a 5-10-20-year plan. Most of our problems are vested in the idea that we aren’t living with any true purpose. We are waiting for things to merely happen to us and for us. It’s the entitlement matrix.

You have to break free and create your own story.

Shifting Post July to the 2nd Half of the Year

Hardcore Planning Season from July to December

Day by day it might seem like a hurdle but wealth is counted in the long term. To stay focused, we are moving toward buying a home in 2023. As such, we are investing while paying off debt. The goal by the end is about +$100,000 net worth growth.

So far, this year has been more miss than hit. The 2020-2021 investing cycle was a lot easier by comparison, so the wins come harder and are way more deliberate. At this stage, it’s all about holding on to big wins in 2025.

The market will likely settle at around +5% for the year. Feel free to click on the link to learn how to avoid post-pandemic revenge.

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Here’s Our Monthly Net Worth Summary Overview:

So What Happened?

Our assets exploded out of the gate and it lead to an overall net worth boost of 6.64%.

Grateful for the climb. S&P for July might have peaked north of 8%. With all the pent-up energy, quality companies received a much-needed mulligan from the Fed. This helped all investor balance sheets. If you aren’t invested, you are missing out.

For now, we don’t anticipate that the good times will last forever. It’s more likely that there will be a seismic drop in October. This will lean toward deep discounts and sales for a legendary Black Friday that no one can really afford. The recession is all but certain in 2023.

Either way, we are shifting to:

• Stacking 10% worth of investment cash for future opportunities,
• Purchasing an ETF focused on Utilities,
• Considering selling 50 shares of $XOM while stocks are at an all-time high, and
• Rebalancing where needed.

Our Expenses for July 2022

Coast FIRE is back!

With the Mexico wedding next year, time for us to start counting macros and decrease luxury eating because over $775 for Food and Dining is ridiculous.

In this section, we share our mint.com expense report to show you that we aren’t perfect but we are tracking. Additionally, we aren’t on a budget per se.

We use the Net Max Budgeting method that allows flexibility in how we spend. As long as there is $3,250 in our checking to start the next month’s expenses, we are covered.

After that, we pay expenses and invest the difference.

The travel expenses are high since that’s our passion and it’s great to see family and friends every once in a while. We purchased and locked in the Air BnB early which made up a seismic $2.5k.

The entertainment stayed fair but our pet portion is seismic since we added puppy training for August at $300 for about six weeks. I’m going to be mad if it does nothing. If you are wondering about the Business services, it’s the expenses offset by any income that comes in for the blog or workshops.

What is the Next Step for Us?

What’s the deal for August?

Headed down to Tallahassee to clean the property and pass over the keys to the new tenants. After that, I’m taking a much-needed solo trip to California to see where the road takes me.

The world is getting smaller so why not travel and add to my over 109 million google map views?

Beyond that here are our overarching goals for 2022:

1. Keeping our expenses where they should be by “Not equating happiness and social acceptance based on the money you spend.“
2. Develop a recession-proof investment strategy.
3. Get to $50,000 in M1 Finance focusing on Growth and Dividend Income that generates at least +$3,000 in passive income by year-end. Check out the portfolio in real time. If you like the platform and want to start investing, I have the $10 for $10 referral if you need it – https://m1.finance/SYdqDJ2SyADC.
4. Shooting for a sustained investment rate with the push for a $1 Million net worth in 2 Years. To help monitor your savings, cash flow, net worth, investments, retirement, and freer with Personal Capital! Sign up with my link & get a $20 Amazon gift card. *Terms apply. https://pcap.rocks

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