Your net worth and/or passive income are the defining figures in the journey to financial independence (FI). I'm tracking mine on a monthly basis here to be transparent and keep myself accountable. Everyone reading this blog will have a different FI target number depending on his or her living expenses. You may need only $3,000 a month to achieve FI, while Jimmy in your office needs $10,000. Or the Joneses down the street require a net worth of $5,000,000 to retire, while you may only need $500,000. I say this, one, for myself and for others to not be detracted by someone else’s stated net worth. Using the example above, you may have a net worth of $450,000 while the Joneses have $2,000,000. They have a significantly larger net worth than you, but guess what, you are a lot closer to FI than they are. I guarantee you’ll be just as happy with less net worth than them.
Passive Income: $0
Another solid month in the books. I paid off my car loan, which is a huge boost to my monthly cash flow. About a $4,600 increase this month mainly from the paid off loan. Can't complain about that!