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Financial Freedom, Financial Journey, Financial Planning, Investment, Lifestyle, Retirement Planning

Money Makes Money: February 2017 Non-W2 Income Report

It’s already April and I just got around to sharing our February non-W2 incomes report. A lot has happened in my family in the past month. Some of the changes and adventures included giving my resignation letter to my previous employer and possibly forever saying goodbye to W-2 employment and taking a road trip across the country.

february 2017 non-w2 income

There are two great things I’ve came to love about non-W2 incomes; one being having incomes coming in to cover my expenses while on vacation and that, two, these incomes are location independent (e.g., I can be anywhere in the world and still continue to receive dividend/interest payments.).

You’ve probably noticed the few “$0”s on the table above. First, I was surprised we didn’t receive any dividends/interest payments on either one of our Roth accounts. Second, there was no financial coaching income for February. We were busy preparing for taxes and for the adventure across the country.

All things considered, the total for February was only couple hundred dollars lower than that of January. We are optimistic that the March total will be much higher. Many of our investments either pay dividends/interests quarterly or pay out higher amounts on the quarter mark. Come back to the blog to see the March report soon. You can view my previous non-W2 income reports here.

We use Personal Capital, a free financial tool, to track our net worth, view our investment performance, analyze our asset allocations and project our retirement goals. I wrote a comprehensive review of Personal Capital on another post. I encourage you to check it out.

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Financial Freedom, Financial Planning, Investment, Money Habits, Retirement Planning

Money Makes Money: January 2017 Non-W2 Income Report

Last month, I started sharing our non-W2 monthly incomes. In that article, I also shared why we’re doing this on the blog. Yesterday, my husband and I summed our financial numbers. Below is a chart listing our non-W2 income sources and totals for January 2017.

January 2017 non-w2 income

As anticipated in last month’s report, we expected January’s numbers to be much lower compared to those of December 2016.

From my understanding, most early retirees in the Financial Independence and Retiring Early (FIRE) community fall in one of two groups when it comes to funding their early retirement lifestyles:

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Financial Empowerment, Financial Freedom, Financial Journey, Money Psychology, Purchase Decisions, Women and Financial Literacy

My Financial Transformations

Financial Independence Mindset

It’s been six months since I learned about financial independence (FI) and this way of life. What does financial freedom look like? How would you structure your life when you no longer have to answer to an employer and/or manager? You can read about this lifestyle in an earlier article I wrote here.

In this article, I’m sharing six financial transformations I have gone through since I became aware of FI. These observations and self-reflections surprised and fascinated me. I used to think I was stuck in a certain way and that was how I was going to be. Nowadays, I believe in the transformative power of adapting a financial independence mindset and the psychological freedom that comes from living life this way.

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Six Financial Transformations

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Financial Freedom, Financial Planning, Investment, Money Habits, Retirement Planning

December 2016 Non-W2 Income Report

We’re sharing our non-W2 incomes on the blog not to brag. We want to show you what is financially possible. If you’ve read some of my previous articles (such here, here, here and here), you know that both my husband and I have been saving aggressively over the past decade. Our savings rate ranged from 55% to 75%. This was true even when our combined income was below $100,000. The total passive income number you’ll be seeing here is the result of a decade of financial discipline and strategic investing. We took no shortcuts nor did we stumble upon great luck.

december 2016 income report

In our household, our biggest financial goal currently is to build up our non-W2 income. Sometime in the near future, my husband and I will want to leave our W-2 employment. At that time, we want our annual non-W2 income to cover our annual expenses. Ideally, we prefer 95% to 100% of expenses will be covered by our passive income sources (such as from dividends and interest payments from stocks and bonds and income from rental properties) and anything beyond that would be a bonus/extra cushion. We are certainly not there yet; we currently have enough passive income to cover our basic expenses. This is the reason we’re looking into rental properties to fill the gap (click here to read my rental property investing series where I share our journey on this new adventure).

Part of financial planning is financial tracking.

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Financial Empowerment, Financial Freedom, Financial Journey

Push for Change (that You Wish to See)

I am not a sales person. Marketing is not my forte. I don’t like taking risks or putting myself out there. Promoting myself and my work feel downright unnatural. Yet, most of the work I’ve been doing related to this blog needs me to be creative, social and promotional.  In the process of developing those skills, I have to learn to face and overcome some of my biggest fears. And that has been hard. However, frequently, I find myself pushing harder (in personal growth) so that I can do more. Advocating for a way of life that I truly believe in and feel passionate about is worthwhile. 

Push for the change that you wish to see.

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It’s been a little over two months since I published my first post. For weeks, I hesitated clicking on the “Publish” button. Despite having a clear vision and a powerful message I want to share with the world, I had self doubts. Seeing that I was struggling with my feelings, my husband reminded me of my cause. In my husband’s exact words: “You care about the girls and women in this world. You’ve got a beautiful message to share with them. Your contents are important to spread”. Over time, his encouragement provided me the clarity and strength I needed to work through my doubts. And I’m grateful for him.

This blog has been growing in readership. Thank you for taking the time to share your financial stories with me. I’ve been inspired and I’ll continue doing my best to be resourceful. You can always reach me through email and Twitter and Facebook direct messages. To the 78 of you (!!!) who have subscribed to my weekly newsletter, thank you for being my loyal readers. Thank you for welcoming my messages into your Inbox. Your support gives me the energy and motivation to keep bringing new contents to you. I am touched knowing that my messages have inspired and encouraged so many of you to seek financial clarity and financial confidence. I love this community and am grateful we’re able to connect through the Internet!

Push For Change

My husband and I used to be very private about our financial life. We allowed money topics to be a taboo during conversations. Starting this blog has been adventurous for us. However, we aren’t doing this alone.

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