December financial update + January budgeting. NET WORTH UPDATE!

[@Logan_12G]

Congratulations on 100k in investments!! I turned 30 last year and had the same goal! It’s a great feeling looking at how much your net worth can change in a year when you document the journey! Wishing you the best in 2025

[@seekingfreesolace]

congrats to you, too, for making it by 30! that's impressive! all the best to you and yours, too :)

[@FIRE_DrNinjaTurtle]

I am a new subscriber and also a new KZbinr. I am sure that you are going to do great.

[@qq1651]

I agree with you, in that budgeting and intentional spending are things I will continue to do every month, not just in January. I watch all of the great KZbinrs (like you 😉) to try to glean any savings tips that I dont already do (short of not using TP cuz Im just not onboard with that lol). I must admit that they are few and far between, for about the last year, at age 61. My reasons a.k.a. my "WHY" is different in that we are planning to retire in 4 years and will continue a very low, but then, fixed income. Between now and then we have to pay off our mortgage (only $28k left), replace a few major appliances and buy/install new carpet throughout our condo, all while maintaining our budget and not touching our savings - which is a REALLY big ask. lmao Thanks for the update!

[@seekingfreesolace]

Hello and thank you for sharing! Four years will go by in no time :) that’s the perfect why to keep going, but I also know in the middle of working towards those longer term goals it can feel really hard. I’m rooting for you! I’m sure you’re going to multiple contractors for quotes and making sure they’re reputable for the work that needs to be done… I’ve found prices are so variable and have skyrocketed in the past few years. It’s been bonkers! Thank you again for sharing :)

[@FIRE_DrNinjaTurtle]

I am near your age and I talk about early retirement and financial freedom on my channel.

[@allidoisnguyen04]

amazing. Thank you for sharing

[@seekingfreesolace]

thank you for watching!

[@georgiatucker1861]

Nice Job!

[@seekingfreesolace]

Thank you! Cheers!

[@futurekron]

OK, first, sellling a car for $22k and paying off that loan with $21700 (assuming taxes were included) is only a $300 add to your net worth. An $18k LOAN for a pricey "electric" car with bigger repair costs and insurance is basically a wash (don't forget to include the cost of financing and maintenace), So, you've added -$18000 AT LEAST to your net worth (not including higher insurance, maintenance, depreciation, etc.). And, you mention you have "home insurance" on your graph, so are you financing your home? Then, you need to deduct your mortgage (and also expenses for maintaining that home and the cost of any loans) from your $100k+ investments. The good news is, that you can add back in any "equity" into your "paper" net worth, although even that is variable from housing bubble to bubble. So far, yes, you're just a little bit above that $80k net worth without actually taking into consider your liabilities...which isn't actually net worth. (Do you have student loans? If not, lucky you!)

[@seekingfreesolace]

Hey, thanks for thinking and asking about these things! I hear your point in factoring in all costs, and I’m confident in my ability to do that math and make that choice for myself. I don’t quite understand your math around reducing my net worth by $18k on top of the loan amount that’s included in the net worth calculation, but I’m open to hearing about it! I do have home insurance and own my home outright. I factor in maintenance costs as they come up on a monthly basis. Maintenance savings is included in my total cash saved. I don’t include home value in my net worth because I don’t plan to sell my home to fund my retirement. I was lucky to make it through school with fellowships and scholarships, so yes, I am fortunate to have no student debt.

[@savagesmallengine3991]

Why is she wearing a winter coat during this podcast?😊😊

[@seekingfreesolace]

Why does anyone wear a coat?

[@gregdilan5482]

how old are you ?

[@seekingfreesolace]

Hi there! I’m in my 30s.