So we’ve done it. We’ve made it over a full year now of blogging!
Technically we began the blog in March 2019 with a passive income report you can find here.
We’ve now done 14 total passive income reports and 14 net worth updates.
To take a look back at our first net worth update look here.
Today we just wanted to take a quick look back at how far we’ve come in that amount of time.
Passive Income
Our first passive income report was March 2019 and our projected 12 month income at that point in time was:
Fast forward one year and one month later and you’ll see our latest report:
A little over one year later and our dividend income has more than doubled! This marks a $5,488.07 increase in passive income in just over one year.
These are the types of things that kind of sneak up on you, and really illustrate the “snowball” that begins to form in your accounts.
In theory we should keep going up by roughly the same % year over year but even if we just keep the flat rate of about $5,500.00 additional passive income each year that would put us at an annual income of $36,449.81 in just 5 short years!
Net Worth
Our very first net worth update on this blog was April 2019 and the number was:
As you can see we weren’t really on either end of the spectrum when we began our blogging journey. We weren’t in the “buried in debt” club trying to dig our way out (though we have been there), nor were we closing in on being millionaires and documenting our journey into a FIRE retirement. We believe we’re many years away from that but we will get there!
Now let’s look at where we are just over one year later:
A net worth of $293,284 in May 2020 vs the $198,721 in April 2019 marks a $94,563 increase since we began this journey.
Again if we can keep up this flat rate of ~$95,000 per year then we would accumulate a net worth of $768,284 in just 5 quick years!
Why the 5 year outlook?
We chose to use a 5 year outlook for our projections in this post because provided we stay employed that’s the amount of time we feel “locked in” to our current living situation.
For the time being we love our city, we love our jobs and we love our social lives but in 5 years time our little boy will be approaching school age and it will be time to think a little harder about what’s best for him and what’s in his best interests may require a move elsewhere or at least a change in our working/living situation.
Our main goal for this 5 year window is to continue to acquire passive income with our current earned income as well as finding ways to side hustle a portion of living expenses both through this blog as well as potentially starting a youtube channel in the future or some other methods we haven’t even thought of yet.
So there you have it, that’s been our progress in a year of blogging. We’re glad we’ve been able to keep you all up to date on our journey and hopefully you’ve learned some things and gained inspiration by following along.
We sure know that the added accountability to our viewers has helped us track things like our spending, investments and keep up to date with what’s happening in the news worldwide, so we thank all of our readers for the motivation they’ve given us.
Here’s to many more great years ahead for us all!
Thanks for stopping by,
FIC.