Hello all. It’s April and spring is here. What is that bright ball in the sky?! Oh, it’s the sun. That’s what Portlanders are saying after a long, dreary winter. Finally, we have a beautiful spring weekend. People are out and about wearing shorts and t-shirts. Oh…it’s nice because we just got back from spring break in Southern California. The weather was perfect there. We visited Griffith Observatory, Santa Monica, Venice, and Palm Springs. We had a great time as tourists. Mrs. RB40 and I grew up in Southern California, but didn’t appreciate all the things it had to offer. It was also nice to visit with families and friends.
On the financial side, we had a very good month. Thanks to the stock market, our net worth has reached a new high. The S&P 500 rose more than 10% in the first quarter of 2024. That was pretty amazing. Our cash flow has been a bit negative, but I’m not worried at all. It’s easy to be optimistic when the stock market is rising.
Well, I’ll share with you what I’m doing with my goals for the new year. Next, I’ll talk about our net worth and cash flows. Let’s go!
2024 goals
Here’s my goals spreadsheet for 2024. It works well. Try it if you can’t keep up with your goals for the new year. The key is to review the spreadsheet monthly to track your progress. This way, you can see which goals need more attention and work toward them.
Financial goals
FI ratio > 100%
The FI ratio is passive income divided by expenses. If you can generate enough passive income to cover your expenses, then you’re set. For 2024, it lowered that goal to 100%. After 3 months, our FI was 82%. That’s a bit low, but we’ll catch up.
*phi ratio = Passive income/expenses
3% rule
Everyone is familiar with the 4% retirement withdrawal rule, right? Basically, you should have a successful retirement if you withdraw less than 4% of your investable assets annually. Let’s see if we can spend less than 3% in 2024. This is a good way to test how prepared you are for retirement. We will add everything at the end of the year. It’s looking good so far.
Track net worth and hope +10%
I’ve been tracking our net worth since 2006. It’s great to see the progress. This year, I would like to see a 10% gain. At this point, it all depends on the stock market and there is not much I can do to influence this target. I’ll track that down and keep my fingers crossed.
Our net worth has increased by 8.3% since the beginning of the year. Wow, the stock market is doing well this year. We’re almost there. I’m very optimistic this year.
Health goals
Exercise 3 times a week
Now that I’m 50, health is job number one. I need to exercise constantly so that I can stay healthy longer. I joined a gym and plan to exercise at least 3 times a week. March was a good month. I’m on the right track. However, my right elbow started to work. I will modify my exercises to reduce stress on my joints.
medical examinations
It is equally important to go see doctors. In this day and age, we have more maintenance and preventative care. Here’s my list for 2024.
- Colonoscopy. Finished!
- Annual physical.
- Dental examination.
- Glaucoma screening. I have a family history.
- immunization. Tdap booster done! Flu vaccine and Covid later.
Fun goals
International flight
The RB40 will turn 50 this year and wants to go on a fun and memorable trip. We are planning to visit Japan for 3 weeks in the summer. I have already purchased the flight tickets and booked the hotel. I can’t wait for this trip.
Happiness level > 8
I’m a happy guy by nature so this should be easy. Life has been great these past few years.
March was a great month. We had a very quiet month and capped it off with a great break trip to Southern California. . It was great fun
Help RB40Jr start a YouTube channel
RB40Jr wants to start a YouTube channel. I will help him do this in the summer. I think he wants to make gaming videos. There is no progress here.
Net worth (+8.3%)
I’ve been tracking our net worth since 2006. It’s very motivating to see the progress we’ve made. The strength of the compound is incredible. In most years, our investment gains significantly exceed our earned income. That’s why you need to start investing early and stick with it.
The first quarter of 2024 was great. The stock market rose significantly. Investors are very optimistic. I’m enjoying the ride, but I’m also a little nervous. It feels like 1996. The AI bubble is still at an early stage, so I think the market has a lot of room to run.
The important thing is to stay invested when the market goes up or down.
***Important*** My best advice is to stay the course. Don’t stop investing. You have to continue investing when the stock market rises. You may think stocks are expensive, but in 10 years they will look cheap. Keep investing and you’ll be fine.
This is a chart of Empower’s net worth. (Personal Capital is now Empower.) Sign up for a free Empower account to help manage your net worth and investment accounts. I log in to check our net worth and use their free tools. This is a great site for DIY investors.
March 2024 Fire Cash Flow
The FIRE Cash Flow Chart includes my online income, side gigs, and taxable passive income. Ms. RB40’s income is not there because she is retiring soon.
March was a very good month for us. Travel expenses were high because we traveled to Los Angeles for spring break. Everything else was very reasonable. Our cash flow was negative, but it wasn’t too bad. We’ll catch up with you in the coming months.
Fire income for March 2024: $4,056
Our fire income was good in March. Online income was a bit low, but that’s okay. It’s part of the transition. In 5 years, I will stop working completely and start drawing more from my savings.
- Real estate crowdfunding: 0 dollars. We didn’t get a boost from real estate crowdfunding last month. You can read more on RE Crowdfunding’s passive income page.
- Dividend: $1,813. March was a good month for earnings.
- Rental income: $665. We’ve had a quiet month for rentals.
- Blog income: $981. Blog income was low in March.
- Odd jobs: $375. I spent about 4-5 hours a week delivering orders.
- diverse: 200. Ms. RB40 received handsome compensation from the Safeway BOGO class action lawsuit.
- interest: $22.
Spending: $4,914
This year, I plan to spend about $65,000. This is the amount we spent last year. However, we are also planning to update the kitchen this year. Maybe I should increase our budget to accommodate that. We’ll see how it goes.
Here are some details.
- Living: $1,361. This includes mortgage, utilities, furniture, repairs and maintenance. Our housing expenses are very low because we live in a duplex. We split many expenses with our tenant.
- communications: $377. Gas and insurance. I also replaced the headlights and changed the oil.
- Travel: $1,407. We had a great time in Southern California. It was worth it.
- entertainment: $171. Mrs. RB40 was sick so we asked out several times when it was her turn to cook.
- grocery shop: $339. We spent less than usual on groceries in March. This was due to our spring break vacation. Also, Ms. RB40 has only cooked a few times in the past month due to her illness.
- health: $268. Health-related expenses increase as we age.
- child: $647. Unfortunately, the children’s expenses also increase as the RB40Jr gets older. Last month, we paid for martial arts lessons and his braces.
- Parents: $250. My brothers and I send $250 a month to my parents to help with expenses. He lives in Thailand, so his cost of living is much lower than in the United States
rescue:-$857
March 2024 summary
Well, let’s wrap it up. March has been amazing and I’m ready for spring. Our cash flow was negative in the first quarter, but should balance out by the end of the year. I’m not worried because our net worth has already increased a lot. At this point, stay the course and we’ll be fine.
That’s all for today. Did you have a good month?
Passive income is the key to early retirement. These days, I invest in commercial real estate with… Crowd Street. They have many projects all over the United States. Go check them out!
Disclosure: We may receive a referral fee if you sign up for a service through the links on this page.
Passive income is the key to early retirement. This year, Joe is investing in commercial real estate with CrowdStreet. They have many projects all over the USA so check them out!
Joe also highly recommends Personal Capital to DIY investors. They have many useful tools that will help you reach financial independence.
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