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$30,564 (Taxable account)
Happy New Year 2024!!!
Welcome to the fourth year of my financial journey. Every year, I take the time to reflect on my finances and life goals in a year-in-review. I believe more positive events occurred last year than negative ones, but I acknowledge that I still have a long journey ahead as I continue learning each day.
2023 Update: Net Worth
Empower sent me an email update this morning, informing me that my net worth has increased. While receiving these monthly updates might be considered a positive for many, given my investment approach, I prefer downturns in the market. They provide an opportunity to enhance my portfolio by adding positions at a discounted rate.
Here’s why you should approach the media and self-proclaimed financial experts with caution: Despite four years of predictions about an impending recession, it has not materialized. In fact, my portfolio has seen a substantial increase of more than 20%.
That being said, to adopt a more steady strategy, try automating your investments rather than letting the noise influence you; it works.
My investment strategy revolves around the long term, so short-term fluctuations don’t faze me. I acknowledge that my approach may shift as I approach retirement, but for now, I’ll make the most of the journey.
2023 Update: Family
Annually, our family embarks on a road trip or travels abroad. Last year, our focus shifted to saving money, but it didn’t hinder us from making the most of the year. A couple of years ago, my daughter played for our old town’s team but later regretted it. Following an unsuccessful attempt at volleyball, she took up track on the recommendation of a coach and continues to pursue it today.
In contrast, my son TGFGjr has been less active in sports lately, resulting in rapid weight gain. His doctor expressed concern about the significant and fast weight increase right before the school year began. Since then, we’ve prioritized adjusting his diet and encouraging more physical activity around the house, minimizing inactive time spent playing video games.
Although we’ve registered him with the town club, there are currently no available spots. We’ve been assured that we will be notified as soon as a spot becomes available. Raising teenagers presents challenges, but by providing honest guidance without sugarcoating, the sacrifices made today will yield dividends in the future.
2023 Update: Health (Ongoing)
Physical
One of my goals last year was to exercise more and be more active, which I achieved while working a part-time job. However, it’s been four months since I reached my daily walking goal, and I’m now experiencing a resurgence of knee pain. Recognizing the importance of exercise, especially while working from home, I’ve implemented a schedule to take walks either around my workplace or in my neighborhood. I prefer using the equipment I already have at home over a gym membership, and once my new office is ready, organizing my space will become a priority. Staying motivated and setting an example for my kids are my primary goals.
Mental
Over the years, I’ve pondered various life questions and sought answers outside of my parents’ limited perspective. While some questions have found clarity through books and digital resources, many remain unanswered. Despite differing beliefs among friends and family, I value mutual respect for diverse perspectives.
Since embarking on this journey, my life has evolved as I continue to explore and question societal conditioning. I’ve come to realize that stepping away from certain people or situations can be an act of self-love. I intend to share more about my findings and why embracing personal growth is crucial, not only financially but also in understanding one’s purpose on earth.
Goals
2022-2023
| Buying a Property | Passed |
| More Index, less stocks | Passed |
| Debt free | Failed |
| Exercise | Passed |
2023-2024
| Pay off Student loan Debt |
| Exercise |
| Read three or more books |
| Backyard farming |
| Family Vacation |
2023 has been a wonderful year
In summary, forecasts for 2023 show a healthy financial trend. The decision to prioritize long-term goals over short-term market fluctuations aligns with a steadfast investment strategy. The cautionary note about media and financial experts emphasizes the importance of discernment in navigating economic predictions.
Overall, these updates reflect a comprehensive commitment to financial stability, family well-being, and personal growth, embodying a resilient and purposeful journey into the year ahead.
**Valuable Resources I Use Daily:
Empower offers a free account to assist you in managing your net worth and investment portfolio. Your asset allocation and portfolio performance are so obvious and easy to grasp that I can't get enough of them. It's an excellent tool for anyone keeping track of their investments.
Robinhood is a platform that does not charge commissions. You can start investing with as little as $1 in stocks, ETFs, and REITs. It's simple to operate and navigate. Sign up now to receive a free stock.
Gio founded TheGrowthFocusedGuy in January 2020 because he was fed up with debt.
His mission is to document his journey to Financial Independence in order to motivate and inspire others to get out of debt and begin building generational wealth.
