So I’ve decided to do something scary.
I am going to share my net worth on this blog each month, and break down how much money I have in various accounts. Why would I do such a thing? Well, I just turned 23 years old and I want to retire early. I’d like to document my path to financial independence since this is the starting point of my journey. When I am 30, 40, 50, and older I think it will be fascinating to look back on my journey and see the progress and mistakes I made along the way.
So without further ado, here is my first ever net worth update:
|Money Market Funds|
|Ally Savings Account||$812|
|First Financial Checking Account||$508|
|Total Money Market||$1,320|
|Tax Advantaged Accounts|
|Vanguard Traditional IRA||$2,388|
|Vanguard Roth IRA||$3,414|
|Total Tax Advantaged||$7,577|
|Non-Tax Advantaged Accounts|
|Loyal3 Brokerage Account||$1,372|
|Vanguard Brokerage Account||$10|
|Total Non-Tax Advantaged||$1,382|
For my tax advantaged accounts I use Vanguard exclusively. You can read about why I love Vanguard so much here. While I was in my freshman and sophomore year of college I contributed a decent chunk of cash into a Roth IRA, but I have recently decided to start contributing to a traditional IRA instead of the Roth, which I will explain why in a future post.
I also started my first full time job ever about 2 months ago and have started contributing as much as possible into the 401(k) plan offered by the company, which is through Fidelity.
For my non tax-advantaged accounts I primarily use Loyal3 which you can read about in my post Financial Tools I Love.
I am also blessed to only have $1,000 in student loans, which brings my net worth currently to a grand total of $9,279.
I’m excited to share my progress each month, document my financial journey and see where this path to financial independence takes me!
Feature Photo Credit: coins