Browse Tag: Financial Independence

Financial Independence

Should I Coast to Early Retirement or Run Hard To The Finish Line?

sport-1201014_1920As I noted in our latest Quarterly Financial Scorecard, we’re getting close to making financial independence a reality.

We’re now two years away from my target early retirement date. And barring a major downturn in the stock market, we should hit our net worth goal early next year.

But even in a best case scenario, that means we still have another 24 months of long commutes, late nights, countless meetings, office politics, and stressful deadlines ahead.

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Q2 2019 Financial Scorecard: Halfway To Financial Independence?

IMG_4082After a setback late last year, 2019 has been good for the ROMT family’s finances.

During the second quarter, we continued to make progress on each of the three metrics we are tracking on our path towards early retirement and financial independence – net worth, 529 account funding, and passive income.

The resilient U.S. stock market was the primary driver of our good results. The S&P 500 rose by 3.8% in the second quarter, as strong performance in April and June offset a decline in May. During the first six months of 2019, the S&P 500 climbed 17% – its best first half performance in 22 years! As the second half of the year begins, the U.S. stock market is once again near all-time high levels.

It has been two years since we introduced our quarterly financial scorecard, and with our target early retirement date now just two years away, our recent progress has me believing we may really be halfway to financial independence!

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Was Solar Worth It? The Numbers After Two Years

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It’s hard to believe, but we’ve had our rooftop solar panels for over two years now.

Which means we now have two years of data to analyze as we consider whether or not home solar energy was really a wise financial decision for our family.

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Solar Energy Update: May 2019

The weather in our part of the county was unseasonably rainy and cool last month. At times, it felt more like winter than spring!

Because of the cloudy weather, energy production from our rooftop solar panels dropped by 25% from last May.

Positively, our electricity usage also declined. While it’s rare for us to use our air conditioning until the summer, there has definitely been no need for it this year.

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The New Solar Year Begins

Last month, we noted the energy credits our rooftop solar panels built up in 2018 lasted us throughout the winter of 2018-2019, enabling us to keep our electric bills at minimum levels throughout the year.

Now that spring has sprung, the “new solar year” has also started. Our solar panels are working all day long – when the weather permits! – to replenish our bank of energy credits that will – hopefully – keep our electric bills just as low next winter.

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Q1 2019 Financial Scorecard: Back on Track!

When we last reported on our finances at the beginning of the year, the results were not good. The worst quarter for the stock market in almost seven years resulted in our net worth moving in the wrong direction for the first time since we started posting our Quarterly Financial Scorecards here at Retiring On My Terms.

Fast forward three months, however, and we seem to be back on track.

The S&P 500 Index returned more than 13% during Q1 2019 – it’s best quarter in nearly a decade! While the U.S. stock market is still a bit below the all-time high set last September, the strong returns so far this year have been great for the ROMT family. We made progress over the past quarter on all three of the metrics we are tracking on our path towards early retirement and financial independence – net worth, 529 account funding, and passive income.

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