Hello everyone!

So one of the coolest things about the personal finance space is that you will find incredible people willing to be open with their finances, and will share their numbers on their blogs.

People like 1500 days, Fiery Millenial, and others have inspired me to come out of my hiding (lurking) spot and join in the transparent sharing of the numbers.

Why share your personal numbers?

My goal with sharing my net worth and give a monthly breakdown of the Borntogo family finances is {} fold:

  • As I am approaching my freedom date (more on that below), I want to make sure I fully understand my household’s finances so I can optimize it before I leave corporate.
  • Over the years of my interest in personal finance, the bravery of others has inspired me. I’d love to be able to inspire others in the same way through these reports.
  • When I leave corporate, these reports will be a helpful reminder for me to keep track of things to ensure our plans are still working out!

What is your freedom date?

Like everything in life, my freedom date is subject to change, but right now we have pinned February 9, 2019 (my 31st birthday) as the date that I make a fully-funded lifestyle change.

According to the 4% rule, we will not be fully FI at this point, but we have decided it’s time to take the leap regardless.

And with my corporate structure, making it into the new year yields some good bonuses to my company’s profit sharing and end of year bonus, so going 5 more months won’t kill me, and should definitely be financially worth it.

And leaving on my birthday just seems like a nice poetic way to transition into a new way of life…

What is this new way of life?

Well, as a family of 5 (2 girls and a boy), we have some unique constraints on us when it comes to planning out our new life.

We recognize that at some point our kids are going to want a “normal life,” in suburbia, where they have stability with friends, school, and activities.

But luckily, they don’t know that yet! And best of all, I can teach my daughter to say, “Daddy, I want to go on an adventure!”

Even though she doesn’t know what that means, it counts as consent to me!

So our plan is to sell everything: Home, cars, stuff – estate-sale style. And purchase a nice fifth wheel trailer and a big diesel truck, and see the country.

I’ve always been a big home-body growing up, and didn’t do my fair share of travelling. My wife on the other hand, has travelled around the world many times in her youth, and she has lit the fire of wanderlust in me.

As we will get into the specific numbers below, you’ll see that we are at a point where things are aligning:

  • We have enough money to be stress-free travelling for several years, while working on our blogs and other side projects that make us happy
  • Our kids are young enough (4, 2, and 10 months) that we have several good years of travel ahead of us before they will really want to settle down
  • The business that we have been able to build on the side of my corporate job doesn’t show any sign of slowing down, so we should be able to avoid touching our nest egg even in “pre-tirement”

So if we choose NOT to take this leap and go on an adventure while we are still a young, healthy family, it will be 100% due to fear of the unknown, which is something that these financial updates are designed to help me with.

Getting stuck and comfortable in corporate America is a real thing. The stability of the paycheck, the office, the free coffee… it can really limit your mindset if you are not careful.

But enough about all that for now, let’s get into the goodies!

Net Worth: $1,086,961 (+$46,620 in July)

It was a kind of strange feeling earning over $1,500 per day over the course of July, but it has been years in the making of being able to make that type of income.

And before we get into the details of the income, a quick disclaimer… since the majority of our income is now being made with my wife’s main blog, the income gets taxed quarterly. So while looking at 1 month is nice, I also consider the rolling 90 day income, because that factors in an estimated tax payment (which are never fun to see leave the account). So our rolling 90 net worth is:

So over the last 90 days (May 1 to July 31), we have still averaged over $1,000 per day, which is a new record for us!

So what the heck happened in July?

July marked the point when my wife and I really decided to pursue this lifestyle change, and we got a little more fire in our bellies and started to push pretty hard.

Over the July 4th weekend we took a trip up to Tennessee to camp and visit family, and we were so impressed with how well the kids behaved and their adventurous spirit.

He’s ready for an adventure!

The kids handled the long car rides with grace (we also learned that kids don’t need to have a water bottle constantly which reduced our number of potty breaks!)

Suzi and I handled the stress of finding hotel rooms, navigating to our hiking trails, and dealing with the random meltdowns, with as much grace as possible.

And we realized that the majority of the breakdowns were simply because the kids weren’t used to the travel, and they didn’t have anything familiar in their world.

They would have a new bed, a new environment, and constant travel for days, which is hard on anyone.

But when we started looking at fifth wheel trailers, we realized some major benefits:

  1. The kids would be able to have their own (small) space with the bunkhouse layouts
  2. They could sleep in their own beds every night, and eat normal food every meal (no need for fast food if we plan accordingly)
  3. We would have all the normal amenities of suburban life (at a smaller scale), without having to maintain our own yard and deal with our HOA.
  4. If we don’t like our neighbors, we move!
  5. There would be adventure baked into every day of our lives

So where did the money come from?

So when we got back to town, Suzi ran a couple of sales on her blog, where she helps moms start their own blogs and online businesses.

This added up to over $26,000 for July, with an additional $6,308 in affiliate income!

My paycheck has stayed steady at around $7,000 per month, which is great, but it simply doesn’t have the growth potential and freedom that starting a blog and online business does.

On to the expenses

Yes… we spent $13,930 in July. But we are actually pretty frugal people, don’t throw stones yet, personal finance community!

You see, The top two categories (advertising and in home nanny) are expenses we choose to help keep our online business growing. We will dial these costs down when we hit the road.

And the education cost was a mistake and has been refunded 🙂

So those 3 categories make up 58% of our monthly spending, which means we really lived on about $5,905 for the month.

And this is still a little pricey, but we also took a big week long vacation to the mountains, and there are a few hundred dollars worth of other business expenses lumped into the number.

The goal as we hit the open road is to not need to dip into our savings, but continue to earn an income, so these expenses are easy to justify.

Asset Breakdown

(I’m taking this snapshot a few days after the end of the month, which is why the net worth doesn’t line up perfectly).

Right now we are carrying way too much cash – this was the unwinding of a previous mistake I made thinking I could be a successful options trader (future post).

I aim to keep around $50,000 in cash, and invest the rest in low cost index funds. I have finally realized that simplicity is key, and since we run a business that has large tax payments throughout the year, keeping a big $50,000 cushion feels about right even though it is probably too conservative…

So where do we go from here?

As we get closer to my freedom date, I’ll be researching the best fifth wheels for the adventure, logging my journey of building my own blog and online business, and how we unravel the life we have built in happy suburban America, preparing to become Born to Go 🙂

What adventure would you go on?

When you achieve FI, what adventures do you have planned? Do you want to travel the world? Just stay home and spend more time with family? Let me know in the comments below!