January 2017 Update

Well, I was late making this update, but that's because I was busy with something else that I'll explain later. It looks like 2017 is going to be a big departure from the norm that was last year. This post marks the beginning of that change, so without further ado, let's see where I stand and what's in store for the near future. My net worth for January 2017 was...

$79,542

Sadly, it's not above 80k, although it had been and then dipped. Alas, that is how the market works. Still, I have a nice little security blanket should something happen. And something bad did happen.

As of January 13 (Friday the 13th no less), I lost my job. I knew it was coming. I could see the writing on the wall (post to follow sometime soon) and, lo and behold, it happened. So, the "something else" I've been busy with is learning a new development technology to make myself more marketable. I've been studying some web development called MEAN stack, which is an acronym for Mongodb, Express, Angular JS, and Node JS. I won't bore you with the details of it, but it's very hot right now and knowing it will help me find a new job more quickly (when I'm ready to re-enter the market).

About my next job: I'm not actively looking right now. I know, that's probably blasphemy to your ears. However, I'm moving out of state this summer so my wife and I have to declutter and get the house in shape and put on the market. With only a few months before we leave, it doesn't make a lot of sense to try to get a new job right now. Not a job that I'll end up leaving in a couple of months. I've thought about finding some contract work in the short-term, but I also like the idea of exercising the little bit of freedom this small amount of money offers me. I don't want to take on too much stress at the moment. I want to decompress from the work-related stress I just left.

Also, we've booked a trip to London in May before we move. So there's some more leisure time I'm going to take advantage of.

It's a good thing that I was able to clear up any debt last year and save a lot of money or none of this would be possible. Instead, I'd be super stressed about our impending move as well as scurrying around trying to find a new income stream. As it turns out, I've minimized my expenses to the point that I can really stretch my cash reserves (better known as my emergency fund). However, as you'll see in the screenshot below, there is a large amount on my credit card (something I said I'd never have in my net worth update). This is an unexpected bill that came from my son before he moved out. Something I am taking care of paying off this week once my money transfer completes. Yes, it's painful to have to spend the money I spent so much time saving to pay for such a large bill. It goes against all of the new financial principles I've adopted. On the other hand, it's good because I have the money and I can pay it off immediately. A prime example of the power and benefit of establishing an EF in the first place.

So, I anticipate my net worth to drop about 10-15k before I'm settled in our new place and establish a new source of income. Then it will be back to accumulating money and bringing my net worth back up. It sucks. Really, it does. But this is why exercising the principles of financial independence are so important. When life throws you these curves, it's so much less stressful if you can handle them from a position of security.

I intend to continue reporting my monthly net worth throughout my period of unemployment for posterity if nothing else. This is just a minor set back. It's not the end of the world.

Where I stand at the beginning of some big changes