Financial Update Report – April 2021

Michael QuanFI / FIRE, Investment, Misc, Net Worth9 Comments

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Financial Update April 2021

Take a peek at our personal numbers for the month of April 2021.  This includes a synopsis of our net worth and monthly cash flow activity.


Learn HOW to calculate your net worth, but NEVER define yourself by it.  Curious as to WHY I calculate and share our personal net worth?  I explain it here.

Want to track your finance automatically and for FREE?  See how I use Personal Capital to help create these financial reports.  If you’re new to budgeting, download my F.I.R.E. Budget spreadsheet.


April – Overview & Updates

April was incredible… BUSY… but incredible.

As you may imagine, there’s been a lot of book promotion activities this month with The F.I.R.E. Planner officially available for release TOMORROW, May 4th!

If you are FREE, please join me for my official book launch online – hosted by ChooseFI San Diego. There’s no need to register, however, it is limited to the first 100 attendees.

Just click this link to JOIN – https://www.financiallyalert.com/booklaunch. I hope to see you there. 🙂

 

April started out with my second COVID shot and I was happy to only have minimal side effects. I had some soreness around the lymph nodes under my arms for a couple of days, but that was it.

Now that my wife and I are both fully vaccinated, we’ve been a bit more adventurous going out and interacting with people. And even took a road trip to Las Vegas for a couple of days.

My friend, Allan, had been working on our new condo getting it STR (short-term rent) ready and we decided to visit as guest #1 for our unit.

He did a fantastic job with the condo and we were super comfortable while we were there.

Here are a few pics of the new place.

Financial Update Report – April 2021 - Michael Quan

This TV is much bigger and nicer than ours at home!

Financial Update Report – April 2021 - Michael Quan

The king-sized bed was nice! (We have a queen at home.)

Financial Update Report – April 2021 - Michael Quan

The bathroom was simple, clean, and functional.

We left mid-week and by the following weekend, it was already rented out. Demand is looking strong for Las Vegas now and we’ve got reservations book through mid-May already.

As you may see from our monthly cash flow reports, one area we don’t skimp on is FOOD. And Las Vegas was no exception. They have some of the best eats you can find anywhere. We had some amazing Japanese (Hachi) and Thai (Lamaii) while we were there.

One other great activity was to explore Red Rock Canyon. I can’t believe I’ve never done this before considering how many times I’ve been there, but it was awesome. Highly recommended if you want to do something different while you’re out in Vegas.

Financial Update Report – April 2021 - Michael Quan

There is a great view back to the city at the end of the Tanks trail.

Financial Update Report – April 2021 - Michael Quan

The kids loved climbing everywhere and exploring little caves.

Anyhow, I’m planning to refi the condo potentially, so I can deploy more cash into additional units. It just sucks that rates have been climbing steadily… oh well.

Let’s get into the numbers. We had some pretty big moves this past month!

Net Worth Summary

2021 April Net Worth Summary

 

April was another strong month for net worth.

We finished the month at $2,664,762 vs. $2,520,065 this past March.  This is a +$144,697 increase to our net worth or +5.74% by percentage.

These increases can be attributed to a combination of real estate assets rising in value (both here in San Diego and Las Vegas), plus more upwards momentum within the stock market.

As I mentioned before, with all of this cash that’s been created from the stimulus I can’t help but think inflation is on the rise and this is part of its effect.

Cash flow was UP for April.

We ended up with +$6,377 of cash flow for the month which was stellar.

Income for April was up from the last month at $12,090.

Our recurring income is primarily made up of my wife’s teacher salary, rental income, dividend income, misc investment income, and online income (coaching, FBA. blog, book, etc.).

So this month we received our $5400 stimulus check from the FED. A portion of income is also attributed to Grandpa’s generosity to our kid’s college fund ($500).

Now that our STR property fully furnished and being rented out, we should start to see some of this new passive income rolling in.

Expenses


April‘s expenses of -$12,046 were down compared to last month.

A chunk of this is for advisory fees which are hefty, however, I still get benefit from our wealth manager’s relationship. It is possible I may pull this back at some point.

We did spend a lot on food this month. This was for my son’s bday dinner and our trip out to Las Vegas.

Finally, there are expenses from the condo buildout, although a chunk of them won’t appear until next month.

Also, note that our mortgage payment of $4000 includes our PITI (principal, interest, taxes, & interest) PLUS an extra $1820 towards the principal (to accelerate our mortgage payoff).

Portfolio Balances (Equities)

I’m happy we funded our 2020 Roth IRAs last month, as the markets keep marching forward.

It was also nice to see our DAF (donor advised fund) – grew past our initial funding levels AND we already gave away $3K in there! 🙂


Our stock allocation remained pretty much the same, with just a half of a point going toward U.S. stocks. We’ll see if and when this gets trimmed by our wealth manager in the months ahead.

Final Thoughts

I just want to say that I feel incredibly blessed. And It’s not lost upon me the privileges I’ve had along the way, and that having upswings of $100K or more is NOT necessarily the norm for most.

However, I am EXCITED because I know anyone can get to where we are at (and beyond) with the right mindset, strategies, and action.

It’s WHY I’m so thrilled to release The F.I.R.E. Planner. Anyone can pick up the book and have everything they need to hop on the road to FIRE.

In the end, we can’t take our money with us. So, how can you use it most efficiently and align it to your values?

What are you doing with your money now? Spending it? Buying back your freedom? Helping others?

Be intentional with your money and life gets interesting really fast.

Readers, how was your April? Have you filed your TAXES yet?

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9 Comments on “Financial Update Report – April 2021”

  1. Congrats on the book again, Michael!

    I love Las Vegas food. That’s my favorite city to visit in the entire world. Not Seoul, not NY, not LA, but Las Vegas. I can’t wait to visit again once I feel more comfortable with the pandemic.

  2. Vegas just never gets old. It has been a good go-to spot for my wife and I to get away for a quick weekend, enjoy some good food, massages and entertainment. I don’t gamble and yet, I love Vegas.

    Congrats on the book launch!!!

  3. Michael, I just got your book from Amazon and finished it in three hours, straight through. Awesome accomplishment to gather all that information in your pursuit of FIRE, and put it in a book. Really enjoy your writing style and clear expression. Your ‘Case Studies’ section was great for me, because I am somewhat in a ‘silo’ and appreciate the introduction to FI personalities that are widely known.

    Admire your gratitude to your ‘unfair advantage’ Uncles, and you have a wonderful family. Came to you through GYFG, and saw a contest on ESI Money for your book and it motivated me to get it. Supporting my satisfactions!:-) Continued success to you!

    1. JayCeezy! That means a ton coming from you. Thank you so much for sharing your thoughts. It’s always nice to know what resonates with different people and I LOVE what stood out to you. Cheers!

      1. Cool! P.S. – your ‘interview’ was very fun to fill out, great questions I hadn’t thought about for a long time and some I had never considered. My favorite: Who are your heroes? Easy answer for me: Blade. Because of the car, Dodge Charger R/T ’68. Flat black.

        1. Excellent choice!

          Speaking of questions… you should do one of my Finding FI interviews for the readers. Any interest? Your story would be great to share. 🙂 Let me know and I’ll send you details.

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