Wow. November flew by and left us with straight-up monster gains.
Plus, we are now HALF MILLIONAIRES!!!
I’m celebrating by offering you a KILLER deal. Keep reading to see how you can get HALF OFF my new Cryptocurrency for Beginners guide.
Thank you, Cryptocurrency/Digital Tulips/Bubble-coins.
At this point, I can’t say I agree with the valuations of crypto. I mean, many of these projects are still in the development phases. They haven’t produced any meaningful results yet. So… imagine what will happen when they do (or don’t)?
The Dad Wallet – A quick thank you to this post’s sponsor!
Please check out Barnabas over at The Dad Wallet. He’s a serial entrepreneur who is focused on helping people make more money with side hustles. Sound like something you’d be interested in? Go browse a few of his articles here.
Pretty Visual Aid For Ye’
Here’s the graphical goodness which I like to look upon and drool for a few minutes each month.
Below you will find a table showing the last three months of all of our accounts. We like it when cash trends upward (those are the top two rows).
Health Savings Account
Our immediate goal is to get this account up to $13,000, which is our out of pocket maximum for our health insurance plan. So we’re 54% complete!
I’ve read the recommendation by Mad Fientist to invest your HSA into the stock market and not touch it for medical expenses, and we’ve considered it.
Apparently, you can contribute, grow and withdraw it tax-free as long as it’s intended to reimburse you for medical expenses you’ve incurred over your lifetime. Not a bad idea, and we’ll likely make that move at some point.
We’re saving for our oldest daughter’s college education. We won’t continue saving in 2019 when I quit my job. We won’t have enough to contribute, so I’m glad we’re doing it now.
If we’re fortunate, she won’t even need it when she’s ready. Since she’s only 4, we have more than 10 years before we really need to start having that conversation.
The majority of the brokerage accounts are not actually invested in the stock market anymore. The majority of that money was being saved for our first real estate property investment, so I pulled it out of the market a couple of months ago to avoid losing any of it. We planned to make a purchase in Q4 of this year. (Spoiler: we did it!)
So the break down of our brokerage accounts was as follows:
- Real Estate Savings: $54,036 (in cash)
- Car Fund: $1,124 (in VFIAX)
- Emergency Fund: 13,575 (in VFIAX)
By far, my largest gains of the year have come from cryptocurrency. To date, I’ve grown an investment of $24,000 to over $51,000.
That’s more than 110% growth!
Getting into cryptocurrency has, without question, been a fantastic use of my cash. It wasn’t easy for me to get started because I wasn’t sure where to begin.
- Which online exchange should I use to trade?
- Should I buy Bitcoin? Should I buy Ethereum? What about Bitcoin Cash or Bitcoin Gold?
- What’s this “alt coin” everyone’s talking about?
- What’s a blockchain?
- How can I protect my investment from hackers?
- Is my money safe? Aghhhhhhhh
So many questions, but over time and through reading hundreds of articles, listening and watching hundreds of videos and podcasts, anything I could get my hands on, I found the answers. I wrote a guide, but I’ve since taken it down because it didn’t sell very well. 🙂
Here are my Cryptocurrency Holdings
For the first time, I’m sharing my holdings. Enjoy:
My guide also includes access to my Simple Crypto Portfolio Tracker. This spreadsheet will help you track your overall growth. This is the simplest method I’ve found, and I like the summary it provides:
We contributed $3,124 to our traditional 401k, and all of our accounts (a trad 401k, two roth IRAs) grew by over $5,000 due to market growth. Pretty awesome!
We have stopped contributing to our Roth IRAs in order to focus solely on pre-tax contributions which saves us on taxes and leaves us more money for real estate investing.
I’m simply depreciating our vehicles using the straight-line method which takes the “usable life” of an asset and spreads the value out over that period of time. I’m assigning 15 years of usable life for each vehicle.
The balance on our cards was much higher this past month because we’ve booked our flights and hotel for our vacation to Rome in the Spring of next year.
Note: We pay our cards in full at the end of each month.
A Word of Encouragement
If you are still early in your financial journey, I encourage you to keep at it. Stick to your guns.
We’ve done some of the weirdest and craziest things to get out of debt. Even in our current situation, being 100% debt free, we are looking to downsize our home.
If you’re living your life differently than your peers, GOOD. Keep doing it. One day it will pay off! But, remember not to wait until that day to live your life.
Hope you found my update helpful in some way. Do you have any questions? Do you have any successes to share?