My first post. Well they say the first is always the hardest, so hopefully this is the start of a long adventure together.
I’m just going to dive right in it. It’s time to detail how my personal finances stack up against the
competition rest of the world. Drumroll please…….
Not too bad in my opinion for a 30 year old (and 28 year old spouse) who are both itching to retire. My main assets include:
- Home Residence: Worth $390,000, but $284,000 mortgage
- Rental Property #1: Worth $150,000, but $103,000 mortgage
- While only have one rental property, but label it #1 to keep the mindset that this is the first of many investment properties we’ll buy over the years. Mental mindset is everything!
- Second Home: Worth $190,000, but $104,000 mortgage
- My dad lives in this home and we visit/stay in it several times per year
- IRA/Roth/401k: $224,000 invested between these accounts
- Student Loan Debt: -$107,000, mostly due to law school
- Cash: $15,000
- Lending Club: $1,000 (just for fun)
I’ll provide more details on each of these accounts in the future, but I thought I should post this first update right away, so I got over the barrier of procrastination.
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