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 $225,144 (vs $216,315 last month). This is about 37.5% of our $600,000 goal.
Primary residence: The mortgage is $92,357 (vs $92,615 last month), which means it’s about 5.76% paid off.
The market has started out really strong in 2017, thus the run-up in The Hoard’s value. I’m not complaining, but I’m not rejoicing either. Mr. Market can be pretty moody and I’m expecting a turbulent ride for the next couple of years.
But, at this rate, we might be able to hit $300k by the end of the year! That would be absolutely incredible! Our contributions are all still on autopilot, so for now we are just plugging along and living our lives.
As a side note, being a parent is pretty great. Baby Dragon is a pretty even-tempered child thus far so it’s been a lot of fun.