Hello all, hope you are all doing well considering the current state of our world. Here is our June 2020 Financial Update:
Our Goal Financial Independence Numbers:
- $900,000 Invested to cover beyond our Living Expenses.
- $150,000 In Savings for Market Crashes or Emergencies.
- An HSA we are Maxing out every year while working for Medical Expenses.
- $0 Personal Debt- No Mortgage or Car Payment brings down our expenses a ton. **Unless the debt is for a rental property (or properties) that generates us more income than what we spend on the property**
Our Current Numbers as of July 1st, 2020:
- $18,326 Invested.
- $11,028 In Savings.
- No HSA yet, will get one Oct. 2022.
- -$149,879 In Debt (Our House & Car).
Total amount needed to reach F. I. Goals: $1,170,525
We are hoping to have at least one rental property by the time we reach F.I. that will generate us some monthly income. We may end up having multiple, but we want to see how one rental property works for us first and learn from it, then expand.