The Million Dollar Club and My 2016 Half Year Financial Update

I have stressed over if I should put my numbers up for the world to see…OK, that may be a gross overstatement as nobody is reading this blog yet especially not the world!  But, let’s face it, once a goal is made public you are way more motivated to accomplish it.  So, by posting my net worth, I am throwing the gauntlet myself and hoping you might keep me to it.

If you did happen to read about my quest for early retirement, you would know that I am planning to retire in 2022 at the age of 44.  The post from Mr. Money Mustache that I linked back to suggests the number of years to retirement if I begin saving today, but, since I am already ahead of $0 this is a very reachable goal with liberal numbers.  Based on my yearly spending and the 4% withdraw rule using a 25% multiplier, I will need 600K to retire.  Now, I would be absolutely delighted to retire earlier but so as not to get my expectations high I based my numbers as if I am starting today.  My actual asset spreadsheet tells the real truth.  So that’s the goal…but not the challenge…

Here it is.  I would also like to add a bonus to my early retirement fun.  I would love to breeze past that 600K and straight into The Millionaires Club.  J. Money at Budgets Are Sexy has a post all about the TMC where other bloggers/people are throwing down their own gauntlets and joining the quest for Millionaireship (apparently not a word but it should be).  I’ve decided to add my name to the list.  Though I won’t be adding a time frame to this challenge, I will work diligently to get there and kick some retirement ass!!  I posted my 2016 goals a few weeks back but failed to include some of my long-term financial goals.  Here is a quick list of what I’ve been up to and what I’ll continue to do:

1. Max out my 401K for
2. Max out my ROTH
3. Max out my HSA
4. Keep contributing to Savings accounts up to 50K (planning for a downpayment on a property)
5. Dump the rest into index funds

That’s it.  Pretty straightforward.  As of now I have no loans or CC debt and what little I accumulate is paid off in full each month – I plan to keep it that way!

So without further ado, here’s is where I am at:

JAN – JUNE 2016


I have a monthly spreadsheet I fill in at the end of each month.  This is the asset portion which as you can see is up 48K over the past 6 months.  This chart does not include my number one asset which is my condo.  I own it outright having paid for it in cash but for some reason, I have chosen not to count it in my assets.  I paid 65K for it in 2014 and I assume (based on current listings but no sales) that the current value is around 70-75k.  Though it is a huge chunk of my change, I have chosen not to include it as it is not fluid.  I can’t decide to sell tomorrow and have 75K in my pocket.  I have also omitted my paid off 2001 CRV – but please don’t tell her!!  She is very sensitive…  Anywho, it’s my chart and Ill make the rules.  🙂

Along with the asset portion, I have a spending and savings portion on my trusty spreadsheet.  While the assets are important to my overall goal of 1 million dollars, the savings rate is more important to my retirement goal.  Assuming I have done the math correctly, I am averaging a savings rate of 76.8% not including my 401K and 81.5% with my 401K contributions.  Let’s take a moment to celebrate before looking at the numbers.

 RealityTVGIFs dancing million dollar listing new york million dollar listing fredrik eklund

Yup – it feels good.  So here are the numbers…

JAN – JUNE Savings

On first glance, it may look like I only spent $350 this month on expenses but, sadly, that isn’t the case.  I keep a 1k buffer in my checking account.  Some months it is up, some it is down.  This month it is down.  Regardless, the savings numbers are still the same.  My sources of income aren’t listed in detail here but they include my work pay, interest from savings accounts ( 4% – technically they are checking accounts but used as savings accounts), focus groups, a side hustle, tax returns, craigslist, and any gifts, tips, or gift cards.

So that’s that!  Though my work hourly wage is set, I am looking to increase my income by taking on another side hustle – maybe something creative with Etsy.  I used to make all sorts of crafty things to sell at art fairs but since starting this airline job 15 years ago I haven’t kept up with it.  Now that Etsy is so well known it may be just the time to dive back in.  I’ll keep you posted…

** So how are your numbers looking these days?  Any interest in joining The Millionaires Club?  Shoot me an email or comment so we can keep each other accountable!  🙂 **


Until next time…

6 thoughts on “The Million Dollar Club and My 2016 Half Year Financial Update

  1. I must say it was hard to find your blog in google. You write great posts
    but you should rank your page higher in search engines.
    If you don’t know how to do it search on youtube: how to
    rank a website Marcel’s way


    1. Hi Julia!

      Good question. 🙂 As I mentioned in the post, though it looks like I only spent $350 in June (I wish!), that number is skewed by the fact that I keep a buffer in my checking account. My actual spending is budgeted for around $1500. Sometimes it’s more, sometimes it’s less – if I spend less, then the next month I don’t have to add as much to my checking which means I get to save more!

      It helps if you look at the total net income for 6 all months ($33377)and subtract the total net savings ($25207). The leftover amount is $8170. My recorded expenses (not shown) from Jan – June were $8583. The extra $413 I spent comes from the money I had left in my account on the last day of December 15 ($744). But, of course, nothing is perfect. If my budget was perfect, I should have $331 carrying over to the start of July. You can see from the assets portion, at the end of June I show $599 in my checking account. That is a surplus of $268 that is unaccounted for. Most likely, over the past 6 months I got cash for Christmas, sold something that I forgot to record, or someone paid me back for something…I don’t know. But, in the end, the income and savings percentages still work out – I am very specific with those numbers because it is easier to track when everything is electronic. I often forget to record cash transactions for expenses or income as it is pretty rare that I use cash. Either way, I am still ahead which is the overall goal! 🙂

      I may have over explained that so I hope it all makes sense! Feel free to ask any other questions and thanks for reading!!


    1. Good for you!! As they say, the first xxx is the hardest. It feels difficult and excruciating in the beginning watching your finances slowly build but it truly does snowball after awhile…and, yes, not having a housing payment really helps!! I only wish I learned about this stuff earlier!! 🙂

      Thanks for popping in!!


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s