My 7 Figure Net Worth Breakdown

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MONEY
A Peak Inside Where I Keep All my Money

Over the last few months, I have been sharing and highlighting my Financial Independence journey with the goal to become work-optional at some point in my 30s or 40s.

I’ve been receiving a lot of questions and messages about my net worth, so I figured it would be helpful to share a breakdown of where I put all my money.

Here’s the total breakdown:

• Cash: 18%

• Retirement: 34%

• Taxable investments: 48%

The majority of my net worth (82%) is in my investments.

As a friendly reminder, I track and monitor my net worth progress using The Personal Finance Dashboard!

1️⃣ My Cash Position

About 18% of my net worth is in cash. Of this:

19% is in a HYSA: My HYSA is used for my sinking funds, like my emergency fund and saving up for travel.

81% is in a CD: This is where I am currently keeping money for a future down payment. I choose to keep this money in a cash savings vehicle rather than invest it because I am hoping to purchase real estate in the next 2-3 years.

2️⃣ My Retirement Account(s)

About 34% of my net worth is in my retirement accounts:

72% is in my Solo 401k: Annually my biggest financial goal is to max out my Solo 401k. I make bi-weekly contributions as an employee of my business, and quarterly profit shares as the employER.

28% is in other IRAs: I have a few misc IRAs floating around that I need to consolidate! I don’t actively contribute to these.

3️⃣ My Taxable Investments

The majority of my net worth - 48% - is in my taxable investment accounts. This is where I invest any money that isn’t in my Solo 401k.

94% is in my Brokerage Account: I use Vanguard and this is my main account. I focus on low-cost ETFs.

6% is in other Accounts: Including a brokerage account with Stash, and an account with Fundrise.

My goal is to continue actively growing my financial foundation through investing, and I stick to a set strategy regardless of economic noise. I track my net worth monthly using The Personal Finance Dashboard.

WEEKLY RECOMMENDATION
Tips to Build Your Financial Foundation

Last week, I was on Daytime Chicago sharing a few tips to take your financial power back. We covered financial accounts, budgeting, and more so you can reach your 6 figure savings goals!

RESOURCES
What’s Happening This Week at Break Your Budget

• This week on Don’t Depend on Daddy: I am sharing an update on my underconsumption journey so far! We’re about 3 months in, and I’m digging into my progress, what’s changing, and what is on my wishlist for spring and summer!

• My Net Worth Breakdown: If you enjoyed todays newsletter, you’ll like this video. I dig a little deeper into each pillar of my net worth and the strategy behind these decisions!

LOOKING FOR MORE?
Check out ALL of my Money & Career Resources!

• Read by books, Own Your Money and Own Your Career!

• Take your financial power back with The Personal Finance Dashboard, my comprehensive money management tool!

• Up-level your career and get promoted with the Own Your Career Template!

• Just getting started on your financial journey? Check out the Basic Budgeting Template!

• Learn exactly how to put together a plan for your finances with the 4-Week Financial Plan!