Wednesday, 16 July 2014

2014 Q2 Recap: 5-figure networth and the discovery of MMM


I'm happy to see my networth pass 10k this quarter. I have officially worked for 1 year at my first professional job, and I count my blessings looking back at this year. To go from a deeply negative networth from a year ago to what I have now is incredible.

In this quarter I have also discovered MMM, which stands for Mr. Money Mustache. I find his blog to be such a revelation and strongly suggest you to go read this blog if you haven't yet. His post about the shockingly simple math behind early retirement was like a lightening strike of enlightenment. To be able to reach financial independence in less than 10 years! It's astonishing how simple and straightforward this is. I will do my best to increase my saving rate this year. I believe I am currently at around 50-55%, so maybe I can aim for 60%. 

In the second half of the year I can look forward to starting RRSP matching at work. I'm also hoping to get a small raise with my annual performance review. 

Networth or 'Stash (according to MMM) at the end of Year 1 of my working career: $14.9K

June 2014
Networth
Assets
TFSA (td)4708
TFSA (questrade)10214
Total14922
Liabilities
Student Debt0
Total14922