Starting Net Worth: $56,417
October felt like the first truly normal month we’ve had in a long time. With the weddings behind us and the major home repairs completed, we were finally able to slow down, take a breath, and figure out what our financial baseline looks like as a married couple. The market dipped slightly again this month, but we stayed consistent with our investment contributions. We continued adding to both our 401(k)s and Roth IRAs, sticking to the plan and taking advantage of lower share prices while we can.
One new habit we introduced was adding an extra $100 each month to our mortgage payment. While our loan is on a standard 30-year term, we’re hoping to pay it off early. Even though the long-term goal for this property is to eventually convert it into a rental, we liked the idea of making small sacrifices today to accelerate our financial freedom. By paying extra now, we’re aiming to have the mortgage completely paid off by the time we’re in our late 40s. At that point, we’ll have a fully owned rental property generating meaningful monthly cash flow. It’s a small step today that could open big doors in the future.
Ending Net Worth: $56,183
None of the above information is a recommendation. This blog is purely intended as commentary on things that have happened along our financial journey.