Starting Net Worth: $286,844
May was a busy month for our family, and it served as a great reminder that a good financial plan should support your life, not restrict it. Throughout the month, we attended multiple weddings and booked our summer trip to the College World Series. As a result, our spending was higher than normal. However, this is exactly why we work hard and stay disciplined during quieter months. Planning ahead allows us to enjoy special experiences without creating financial stress.
We also made a few positive financial changes in May. I increased my Roth 401(k) contributions, allowing us to save more toward our long-term goals while taking advantage of tax-free growth potential. In addition, we established a recurring monthly contribution to a joint brokerage account. Unlike retirement accounts, a brokerage account gives us the ability to invest while keeping the money accessible for future opportunities. We do not have a specific goal for these funds today, but they could eventually help fund another rental property, a future vehicle purchase, or whatever opportunities life presents down the road.
May also continued a strong run for the stock market. Because we have maintained an aggressive investment strategy and stayed committed through earlier market volatility, we were able to fully participate in the gains.
As a result of market growth, continued investing, and consistent financial habits, our net worth reached another exciting milestone. For the first time, our family surpassed a net worth of $300,000. While milestones are always fun to celebrate, they are ultimately the result of years of consistent decisions. May was a great example of what we're striving for: enjoying life today while continuing to build wealth for the future.
Ending Net Worth: $304,807
None of the above information is a recommendation. This blog is purely intended as commentary on things that have happened along our financial journey.