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 market value of the hoard in mid-May was $161,935 (vs $158,175 last month). This is about 27.0% of our $600,000 goal.
Primary residence: The mortgage is $94,647 (vs $94,898 last month), which means it’s about 3.42% paid off.
This post is a little late, because we have been super busy lately, so I’ll keep it short and sweet. Another solid month of progress here. Our investments are pretty much on autopilot, so things just keep going smoothly.
But Mr. Market is a moody S.O.B. so you never know when a sudden spike or drop will come along. However, we’re mentally prepared for when they inevitably do come. For now, we’re just enjoying the relatively smooth sailing.