I started this series to reflect on our goals and share some things I learned each month. For now, I’ll primarily be tracking our progress to financial independence.
OUR PROGRESS TO FINANCIAL INDEPENDENCE (FI)
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2018 (Start of fi journey: 12-19%)
January – 11.62%
February – 13.74%
March – 14.55%
April – 15.04%
May – 16.40%
June – 16.74%
July – 18.30%
August – 19.33%
September – 19.79%
October – 19.29%
November – 19.97%
December – 18.81%
2019 (2nd year: 19-33%)
January – 20.96%
February – 22.22%
March – 24.09%
April – 25.16%
May – 24.89%
June – 26.03%
July – 26.69%
August – 27.31%
September – 30.43%
October – 30.43%
November – 31.32%
December – 32.55%
2020 (3Rd year: 33-57%)
January – 35.32%
February – 33.03%
March – 30.09%
April – 34.60%
May – 38.21%
June – 41.36%
July – 43.26%
August – 46.76%
September – 46.94%
October – 46.99%
November – 53.79%
December – 57.25%
My Major Money Moments:
May 2011: Graduated with my bachelors of science in kinesiology with $9,500 of debt. Saved $10,000 working throughout high school and college. I decided not to pay off my subsidized loans and use the money I saved to survive in grad school.
May 2014: Graduated with my Doctorate in Physical Therapy with $107,500 in student loans when totaling principal and interest.
July 2014: Enrolled in the Public Service Student Loan Forgiveness (PSLF) program.
September 2014: Obtained my first PT gig, which was the best and worst thing that has happened to me.
December 2014: Entered Student Loan Repayment Under the PSLF program
July 2015: I finally proposed to my wife after being together for 10 years!
November 2015: Needed to leave my first job and decided to forget about student loan forgiveness.
December 2015: Transitioned from outpatient PT to working in a skilled nursing facility. Began paying off my student loans as aggressively as possible.
October 2016: Paid off my $115,000 student loan balance with help of very generous personal loans from family and no longer owe the federal government money. I also got married!
February 2017: Began learning about investing leading me to contribute to my 401(k) and IRA. Experimented with Robo-advisors and began using the free trading platform, Robinhood.
June 2017: Started a new job as a home care PT. I paid my wife back $10,000, effectively reducing my personal debt from $40,000 to $30,000.
July 2017: Finally achieved a positive net worth in cash and investments! I highly recommend personal capital as a money management tool to track your net worth and much more!
November 2017: My mom had difficulty accepting any money to pay her back, so I opened an IRA with her approval to fund the account until it reaches $30,000.
January 2018: Learned about the concept of financial independence and developed a plan to FI/RE by 40.
August 2018: I began doing something with my spare change and created something called “The free money game for investors“.
April 2018: The birth of Flexcents!
May 2019: Made an awesome $47,000 Investment In real estate and my family
April 2020: Due to the Coronavirus pandemic, we were motivated to adjust our budget which will make use $30,000 richer.
June 2020: I decided to start my own PT private practice! I guess I’m somewhat of an entrepreneur now?
Learn More About Financial Independence
Toggle through to learn what Financial Independence (FI) means and the VITAL role it plays in allowing you to live your best life.