Every good dragon has a hoard. You know. The collection of gold, jewels, and other valuables that the dragon guards in his or her cave. For me, The Hoard is what I call my assets. The collection of stocks, bonds, and other income producing assets that Mrs. Dragon and I have collected thus far.
Mythological fire breathers have to protect their hoard from knights seeking glory, wizards wanting power, etc. Real-world FIRE breathers have more mundane, but very real dangers to their own hoards: the tax man, the cable company, lifestyle inflation, high-fee brokers, and many more.
This is one post in a series that documents my progress towards financial independence.
You might recall that I don’t include our primary residence in the assets (it doesn’t produce income) and I don’t include our primary mortgage against the assets. If we had a rental house, I would include it in both parts of the equation, but I’ll address the primary residence in a separate category.
I do not differentiate between tax-advantaged accounts and taxable ones in the number for The Hoard. Assets are assets.
We use the excellent (and free!) service Personal Capital to keep track of how The Hoard is coming along. It lets you view all your accounts on a single homepage for a convenient snapshot of your financial life. It is a top-notch service. Highly recommended.
Mrs. Dragon and I want $600,000 in liquid assets and a paid-off house to consider ourselves financially independent. We’re hoping to accomplish this by February of 2025.
How are we currently doing?
The current market value of the hoard is $197,338 (vs $183,376 last month). This is about 32.9% of our $600,000 goal.
Primary residence: The mortgage is $93,891 (vs $94,143 last month), which means it’s about 4.19% paid off.
Score! Another huge increase this month. The market has been steadily climbing for a while now, and that’s definitely reflected in the most recent increases in The Hoard.
Unless the market takes a nose dive we should clear $200k by next month! That would be awesome as we are currently ahead of schedule for meeting our goals.
Honestly, we’ve been so busy getting used to taking care of Baby Dragon we haven’t thought very much about either our spending or The Hoard. Luckily, all our investments are automated so while we are busy living our lives, the numbers just keep climbing higher and higher.
As you can see, we are still focused on investing vs paying off the mortgage right now. I expect this to continue for at least another year and quite possibly for several more.