Hey everyone! Did you have a good February? For us, it was unusual… I came back from Thailand and was jet-lagged for a long time. It was strange. For two weeks, I woke up at 3 am and couldn’t go back to sleep. I guess I was worried about my parents so I had a hard time adjusting to the time change. The weather was a big factor as well. It was hot and sunny in Thailand, but dark and cold in Portland. It made me sleepy all the time.  

Then we got a big snowstorm at the end of the month. The weather people got it all wrong and nobody was prepared for 11 inches of snow. (It was the second-largest snowfall on record.) That’s a big deal in Portland. RB40Jr’s bus took 3 hours to travel 5 miles. And they did way better than most other school buses. The roads got bad and many people abandoned their vehicles on the freeway. It was nuts. The city shut down for 4 days and we hung out at home. RB40Jr enjoyed it immensely.

On the financial side, it wasn’t pretty. We spent like a normal American family. First was the $2,500 maintenance bill at the duplex. This brought down our rental income and increased our housing expenses. Then, we spent over $3,000 on future travel – Disneyland and camping in the summer. As a result, our YTD expenses went way above our passive income. We’ll need to take it easy for the next few months so the cash flow will balance out. 

Alright, I’ll share how I’m doing with my 2023 New Year goals. Then, I’ll go over our net worth and cash flow. Let’s go!

2023 Goals

Here is my 2023 goal spreadsheet. It works really well. Try it out if you can’t keep up with your New Year goals. The key is to go over the spreadsheet at least once a month to track your progress. You can see which goals need extra attention and work on them.

Last year, I failed to accomplish about half of my goals. It was a rough year. I’m optimistic this year, though. Let’s go!

Financial Goals

Health Goals

Mediterranean fish – This dish was healthy and delicious. It’s a great way to cook white fish.

Mrs. RB40 and Junior didn’t eat much Asian food while I was gone. They’re happy to have me cooking again. RB40Jr liked the Cantonese-style egg and tomato stir fry. It’s so simple and easy. The salmon with celery stir fry was good too.  

Personal Goals

Net Worth (+5%)

The stock market pulled back a bit at the end of February. Inflation is still high so the future looks uncertain. As a result, the Fed will continue to raise the interest rate. Everyone needs to start saving a bit more because we’ll probably get a recession later this year. 

I’ve been tracking our net worth since 2006. Usually, it is very motivating to see the progress. The power of compounding is unbelievable. However, 2022 was demoralizing. Our net worth dropped along with the stock market. I hope we can get back to our all-time high this year, but it might take more time. The important thing is to keep investing even when the market looks bad.

***Important*** My best advice is to stay the course. Do not stop investing. You need to keep investing when the stock market is down. Eventually, the stock market will recover and you will do very well as long as you keep investing through the downturn.

Here is a chart of our net worth from Empower. (Personal Capital is now Empower.) Sign up for a free account at Empower to help manage your net worth and investment accounts. I log in almost every day to check our net worth. It’s a great site for DIY investors.

YTD 2023 FIRE Cash Flow

This FIRE cash flow chart includes my online income, side gigs, and taxable passive income. Mrs. RB40’s income isn’t here because I want to see if we’ll be fine after she retires.

YTD FIRE Income: $5,882

Our FIRE income was a bit low for the first 2 months of 2023. I just spent a good chunk of money on maintenance at our duplex. This reduced our rental income, but it should be better for the rest of the year. 

Spending: $9,838

In 2023, I plan to spend about $50,000. That’s the same budget as last year. However, we won’t travel as much so our annual spending should be lower than last year.

Here are some details. Actually, I’ll only focus on a few categories to keep it simple.  

Savings: -$3,956

We spent more than our FIRE income so we had to borrow from savings. This should improve soon.

February 2023 wrap up

February was a strange month for me. I had a hard time adjusting back to life in the U.S., but I was a lot less stressed out. It’s nice to be home. Our finance wasn’t good, either. We spent way more than normal. The YTD cash flow looks bad, but it should improve after a few months. Income and expenses can be lumpy in early retirement. Anyway, I’m looking forward to warmer weather. It’ll be easier to get out and walk more. Longer days will be great.

All right, that’s it today. Did you have a good February? Did you spend a ton of money like many American families?

Passive income is the key to early retirement. These days, I’m investing in commercial properties with CrowdStreet. They have many projects across the United States. Go check them out!

Disclosure: We may receive a referral fee if you signup for a service through the links on this page.

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Joe started Retire by 40 in 2010 to figure out how to retire early. After 16 years of investing and saving, he achieved financial independence and retired at 38.

Passive income is the key to early retirement. This year, Joe is investing in commercial real estate with CrowdStreet. They have many projects across the USA so check them out!

Joe also highly recommends Personal Capital for DIY investors. They have many useful tools that will help you reach financial independence.

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