We reach another milestone this month: Our net worth surpasses $300,000 for the first time ever. At this rate, we are on track to hit half a million before 40 and a million before 50. After that I can officially retire when the kid has been successfully launched in our 50’s.
We also acquire a new home by a lake for semi-retirement. As a result, the old house has been moved to Other Real Estate to reflect the change until it gets sold. Primary house is appraised at $250,000, but we will use a conservative figure for now.
We will pay $0 state tax since we now live in Florida. This surplus will be offset by higher property tax, higher insurance and higher living cost. So that comes out to be even. The biggest advantage of the relocation is our four-year-old daughter will enroll in a great public school district so that we can save all those private tuition bills until college. We were planning to enroll the daughter into private school if we didn’t move out of state. So the relocation this summer comes just at the right time.
Due to lifestyle inflation, our expenses will increase for months/years to come. As a result, the rate of net worth change will slow down considerably in the future. We have to account for the relocation cost, furniture and appliances upgrade, etc. Even though the rate will be small, but as long as it is positive then we are happy with it.
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