One. Million. American. Dollars. The moment has finally arrived ladies and gentlemen. After almost two decades of blood, sweat and tears (ok maybe just sweat), I have officially reached the two-comma club.
In all honesty, this milestone was likely reached months ago with the way real estate values have superbly amplified totals. But I continue to abide by a conservative "graceful" formula of small and steady increases. This real estate tear has to end sometime, so values won't be bouncing around like a jackrabbit if prices take a tumble.
There's still much more work to be done. Taking away all RE equity and tangible assets, I'm not even across the $400k mark. I must continue to be as aggressive as possible with the current 18% savings rate, but as I'm saving up for another investment property, I must carefully balance the desire for more cash flow along with maxing out what contributions I can make.
In other financial moves, SEP IRA has been funded for the year. Scheduled taxes are to be paid soon, as well as another round of annual life insurance. I bought the new iPad Air 5 as a complement to give my iPad Pro a break from being lugged around everywhere. April should be a good month with extra music gigs and other side business income.
All in all, I feel very fortunate that the high inflation isn't affecting me too badly, although like most everyone else I'm conscious of driving and eating out less, which is just my normal reaction to increased prices. My real estate is protecting me from too much damage for the time being.
Looks like the next goal is to get to $2MM, first just in assets, then eventually as the entire net worth. And I'm pretty sure it won't take 20 years to accomplish. (I hope!) |