I am hoping to keep this focused with minimal feelings.
It took me most of the afternoon to complete this financial check-in, and I'm not exactly sure why.
But instead of getting bogged down with extemporaneous details, here's where I find myself financially mid-way through 2020 and a global pandemic.
First, here's a look back at some goals and targets I set at the beginning of 2020:
Mid-way through the year, I find my numbers as follows. All rounded and approximated.
Net Income YTD: $38k
Expenses YTD: $15.6k
Post-Tax Savings/Investments YTD: $14.6k
If you're just here for the numbers, that's pretty much it. If you want some more words, keep reading.
Net Income. Most notably, I'm a bit more than halfway to my projected earnings for the year primarily due to a sign-on bonus at New Job, COVID stimulus check, and nearly $2k in bank bonuses. I'm feeling very financially fortunate at the moment.
Expenses. Not too bad. Not the $13k you might expect given my lofty stated projections, but it's on par with my actual annual expenses (of approx. $30k/yr) the last 2 to 3 years. Decidedly it's a bit less than I expected given my COVID stockpiling and transactional costs of mortgaging a house. Unsurprisingly, the bulk of Expenses this year were housing-related.
Post-Tax Savings. Post Tax Savings, really I should say investments, is right on track. This is in large part due to the fact that it's completely automated each month. Because of the bit of extra cash, I'm even a bit tempted to go ahead and max out my Roth IRA early, but I appreciate the structure.
I also updated my FIRE TRACKER, so you can see the stock market is playing along at the moment, and if it continues I may reach my year end Savings/Investments goals.
I hope this Fourth of July brings you some financial freedom!
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