Browse Tag: Financial Scorecard

Q4 2017 Financial Scorecard: Slow And Steady Wins The Race!

Personal FinanceWith the calendar finally turning to 2018, it’s time to report on the ROMT family’s financial status as of year-end 2017!

We made progress on each of our financial independence and early retirement goals during the fourth quarter, increasing our Net Worth, 529 Account Funding, and Passive Income.

Measuring our progress on a regular basis certainly helps keep our eyes on the prize, but we’ve found there are really no secrets to continuing to move in the right direction.

For those of us who aren’t founders of tech startups, first round NFL draft picks, or lottery winners, slow and steady progress is the surest way to build wealth over time.

Keeping our personal finances in order is largely a matter of doing the basic blocking and tackling on a daily basis.  Trying to save a larger portion of our income, making sure our money is working as hard for us as we are, avoiding unnecessary expenditures, and taking full advantage of any free money that is available, such as 401(k) matches and credit card rewards, may sound boring, but are all tried and true ways to continue moving towards financial independence and early retirement.

And we used all of those methods to move a little closer to our goals during the fourth quarter.

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Q3 2017 Financial Scorecard: 75% Of The Way To FIRE!

Financial IndependenceAs we head into autumn, the leaves are changing colors, the baseball playoffs are underway, and football season is heating up as the weather is cooling off.

Which can mean only one thing for the ROMT family: it’s time to report on our financial progress during the third quarter!

Publicly tracking our progress towards financial independence and early retirement has really focused our attention on the topic. I’m pleased with the progress we made over the past three months on our Net Worth, 529 Account Funding, and Passive Income goals. We still have a lot of work ahead of us, but during the third quarter we were heading down our path to FIRE with all cylinders firing!

Without further ado, let’s take a look at our progress as of September 30, 2017:

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Quarterly Financial Scorecard: Q2 2017

Early Retirement
Could early retirement really be just four years away? We still have a lot of work to do!

Last week, I outlined how I plan to measure our progress during our quest for financial independence and early retirement.

Today, we’ll open the curtain into our finances for the first time, and share where we stand in relation to our Net Worth, 529 Account Funding, and Passive Income goals as of June 30, 2017 – just four years before our target FIRE date of Friday, July 2, 2021.

I. Net Worth: 73.1% of Goal

Our net worth declined by 1.0% during Q2 2017. On the surface, this was a poor performance, as the S&P 500 was up 2.6% during the quarter. Not all of our assets are in the stock market, so the comparison is a bit unfair, but we’d still normally expect our net worth to rise with a strong stock market bolstered by additional savings and investments.

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How I’m Measuring Our Progress Towards FIRE

Early RetirementWhile there are many ways to measure progress towards financial independence and early retirement, I tend to focus on the numbers more than the less tangible aspects of the journey.

As we continue down our path to FIRE, I will post a Quarterly Financial Scorecard every three months, documenting our progress along the four dimensions I am measuring.

But before posting our Quarterly Financial Scorecard for Q2 2017, I want to outline what we are measuring during our quest for financial independence:

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