Ok, so here we go…
This is a little like walking down the street naked! And nobody wants to see me walking down the street naked.
I’ve gotten a little pushback from people concerned that I am displaying my finances for all to see. I understand that this is not a normal thing to be doing. However the amount of positive feedback I’ve received has far eclipsed that of the naysayers.
We’ve all been programmed to feel guilty about money. It’s not a topic for the dinner table. At least that’s what I’ve been told. Although it’s a frequent topic at my dinner table. It’s not a topic for high school or college. Although ALL kids desperately need it!
I want to talk about money. Not for the reasons most talk about it. Our conversations together are designed to be inspirational, thought provoking, and myth busting.
Why should we fall for the ideology we’ve been brainwashed to believe? Why in the world would we want to spend ALL of the best part of our adult lives working. Working with the hopeful intention of maybe one day retiring to the old folks home.
There has to be a better way!
I truly believe that in the bottom of my heart real estate sales and investing are the Better Way!
With that said, allow me to share my current financial position with you.
Here is my current cash position. Keep in mind I do not include any business accounts in this equation.
My Bride (Stacey) doesn’t like the account below $50,000. And I don’t like it above $50,000! She likes the security of cash on hand, and I want the money out on the street making more money! Not sitting dead in the bank at 0.002% interest rate.
In years past we would have just spent the extra money to keep the balance in check. Now we’re looking to invest all extra money. And the first place to start is with our current rental portfolio. With interest rates up to 7.25% on some of our homes, it’s a no-brainer trying to pay them off and collecting that interest ourselves instead of paying the bank.
Here’s my current net worth (as of May 25th 2016):
Not exactly the number I had in my head when I started my quest for early retirement… but close. The back of the napkin math I had in mind was $2,000,000, which makes me a multi-millionaire! Well apparently I NOT a multi-millionaire!
As embarrassing as it is to admit to you that I didn’t know exactly where I was financially, it feels really good to finally be putting a finger on it. For those that know me, hearing that I didn’t know down to the penny where my net worth was, or not knowing precisely what my monthly expenses are is basically unbelievable.
Unbelievable because I track just about EVERYTHING! I track how many days each year I work out, what time I go to bed, wake up, how much gas costs me each and every fill up, how many calories I consume, etc, etc. So not knowing my financial details is, for lack of a better term, inexcusable.
Making this information public is not normal. Talking about and sharing the inner workings of my real estate team, including profit & loss statements, detailed expense reports, etc… is basically unheard of in this business.
At the end of the day my reasoning is not to brag and yell, “Look at me!!! Look at me!!!” Because the truth is, with all the money that I have made I should have kept a lot more of it. I haven’t! Kicking myself for it is no longer the plan. The plan is to move forward, figure this shit out, and share every bit of it with you!
Have a wonderful day!
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