Starting Net Worth: -$24,984
My first “big boy” paycheck! The ever important question is “what did you spend it on?” and because I had a wonderful girlfriend who bought me the watch I wanted as a graduation gift, I believe my answer is a lousy beer. The better answer is I was able to begin contributing to my Roth IRA with $900 as well as contribute 4% to my Roth 401k to help kickstart my tax-free retirement savings. At this time I also decided to invest my retirement accounts in double exposure index funds. The way this works is on any given day if the index returns +1% then I earn +2%, but if the index loses 1% then I lose 2%. This level of risk isn’t for everyone, but because I had 40 years until retirement, and a high risk tolerance, I decided this was right for me. I also made another contribution of $600 to my bitcoin investment in order to keep growing this non-retirement account which didn’t have restrictions on withdrawals. Some things I had going for me at this point included being able to live with my grandparents for free, and my federal student loans being in forbearance due to Covid. This meant I didn’t have any housing or debt payments to begin my career and my total expenses came to $1,319.24, so I was able to save as much as possible.
Ending Net Worth: -$23,355
None of the above information is a recommendation. This blog is purely intended as commentary on things that have happened along my financial journey.