Wow, have I slipped up or what? I can’t believe a year went by and I haven’t written a thing since my 1 Year Update. I think I’ll look back at 2018 and it will be known as the year that I lost focus on my professional goals, but had a blast at the same time. In 2017, I hardly took any vacation days, worked 60+ hours, and didn’t go out much. It was a great start for my future financially. This year, I’m averaging 15 hours of work a week(I work remotely mostly now as a software engineer). I’ve also put in much less time on the side hustles. I’ve been going out a lot. I’m addicted to volleyball now, playing 4+ days a week. I’m using all of my vacation days on trips like Ireland, Greece, Carribean cruises, and maybe a Southeast Asia backpacking adventure(tbd).
My priorities have totally changed, once again. I really need to find a balance between working my ass off vs being a bum who works from home and plays volleyball all the time. Note that it’s summer right now, so maybe my feelings are skewed. I’ve probably mentioned that I suffer from shiny object syndrome(self-diagnosed). This blog is the perfect example. To be honest, I don’t have any interest in writing here anymore or the traffic it receives. Why write now? I’m thinking these yearly update posts will be interesting to my future self. That’s why I’m providing a quick snapshot of my lifestyle as well. Now, on to the financials!
First and foremost, here’s the updated net worth chart after 2 years of work:
As of today, my estimated net worth is $193,687.88. Per usual, the Personal Capital chart is looking very sloppy due to my activities like opening accounts, closing accounts, refinancing and buying/selling properties. I wish they wouldn’t retroactively change your net worth graph once you change an account. No, I did not receive a 100k inheritance this January. That’s probably when I deleted a business debt account from the list or something. Other than that, I love using Personal Capital to track all my accounts in one place. Sign up with this link and we each get $20 from them. I might as well include my year 1 chart:
Last August 2017, my net worth was about $82,000. Hmmmm, I worked much less but still increased my net worth by more than $110,000 over the last 12 months? I’m gonna assume that’s because of some hard work from 2017 rolling over into 2018. I believe three real estate projects were finished so far this year that were started in 2017.
A couple changes in my asset allocation since last year: I put $5,000 in crypto when it was blowing up because I was getting FOMO. I wrote that money off as gone forever. I hardly even look at it. I don’t plan to sell and cut my losses. Maybe I’ll look at the account in 20 years to find out I’m loaded. Future Jack: let it be known that at this time you understand blockchain, never believed in crypto, still do not believe in crypto, and only bought it just in case you were wrong so that you could cure your FOMO(lol dummy). It was blowing up when foolishly I entered Bitcoin, Ethereum, and Litecoin. Naturally, they all have pulled back since and my crypto investment is down 58%(down to $2,100).
The other change is my the increase in my stock position. This is really just a coincidence. I’d prefer to be heavier in real estate, but we just sold something and haven’t made any recent purchases. So my Robinhood account has $103,000 worth of ETF’s that’s itching to buy more real estate. Y’all got any deals??? Half of it is in SPXL(triple leveraged S&P) and the other half is in VYM(a vanguard divident etf).
W-2 Job
Salary: $82,000
Nothing has changed over the last year except now my title is software engineer. Hmmm.. maybe I should work harder. I do have a ton more flexibility, as I’m working from home about 3 days a week at this point.
Real Estate
In the last 24 months, I’ve had my hand in 12 real estate transactions. In the last year, I’ve flipped one property alone and two in Florida with my business partner. After those three sales, I currently have my hand in 14 units across 6 properties.
Portfolio Cash Flow: $800/month
I’m very confused as to why last year’s post says a higher number($1,139) despite adding 4 rental units. Maybe mortgages kicked in that weren’t present? Maybe I wasn’t splitting the bottom line number with my partners?? I don’t know. I guess I lied previously or I’m missing something now.
Stocks
Portfolio Value: $115,000
Not a great year for stocks so far. I’ve continued to utilize my Roth 401k match as well as ESPP. No options gambling for me this year.
YoY Gain: $15,470
This YoY gain includes the 401k match and gains, ESPP gains, and ETF gains in my Robinhood account. I love Robinhood because its simple and they don’t take any commission fees. All trades are free. Here’s a link to create an account if you’re interested. That link comes with a free stock.
Other Side Hustles
I completed a beta version of SaaS app for real estate transactions. It was sub par, I got some trial users, they didn’t convert, and then the weather got warm so I forgot about it. Maybe I’ll try another launch this winter? As of now, I think I’m in the hole about $8,000 on the project. I haven’t created any new sites or tried to increase business but I’m still making that $500/year from the ones I made last year. I do zero work for that. Wondering if I should try to revamp?? Hmmm shiny objects.
Summary
I stopped using mint, so unlike my last annual report, I do not know my savings rate or living expenses. I also don’t have my passive income numbers recorded, but I do have the estimates that my excel sheets give me. I really need to get back on track huh…anyways:
Yearly Passive Income: idk, maybe $17,000??
Last year I said it was $17,318. Frankly, I don’t think its changed that much. I was more active house flipping this year which helped me make more money but I haven’t done much to add towards my passive income.
I am very sorry if you made it to the bottom of this trainwreck of a post. I used to spend hours double checking and rewriting things, but as I mentioned, my interests have changed and this was really just for me to record my progress to look back on! Maybe I’ll retire early, get bored, and write here all the time. Who knows! Just stick with me anyway 😉