Financial Independence Update Report – October 2021

Michael QuanFI / FIRE, Investment, Misc, Net Worth7 Comments

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Financial Independence Update Report – October 2021

Take a peek at our personal numbers for the month of October 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.

October – Overview & Updates

I trust that you all had a nice Halloween? We certainly did. Our neighborhood is awesome. They always do it up and get together for a fun block party every year.

October was definitely a month to remember. And it was in large part thanks to you guys… my readers. You see, I asked you guys what you thought about NFTs and if you’d want to learn more since I’ve already been going down the NFT rabbit hole super deep the past several months. And, well, there was a great response back! That’s all I needed to know and I got to work.

The first weekend, I came up with a domain name ( and created a custom logo using the A.I. graphics tool, Looka. What an incredible tool. I then took that logo and got busy. I created the idea for my NFT investment group and built a sales page around it. Additionally, I created some content (How to Make Money with NFTs) for the blog and even recorded a couple of podcasts about NFTs.

Well, it certainly got some of you excited and when I went to launch the beta group, I was happy to see a bunch of people signup all the way up to the last 10 minutes before I shut it back down.

I’ll reopen it again soon, but wanted to focus on the content creation and members before I switch back to marketing mode. Anyhow, that provided a nice little pop of online income and I’m excited to see how I can grow this and deliver more value to this group over time.

It’s certainly amazing what you can accomplish when you get laser-focused and it was great to get lost in building a new membership.

I’m definitely enjoying the content creation process where I’m getting to use technologies like OBS to record layered videos and Davinci Resolve to edit it all together. At some point, I’ll outsource this, but the creative outlet is satisfying at this point.

Alright, let’s get to the numbers!

Net Worth Summary

October was a nice move for net worth.

We finished the month at $2,936,257 vs. $2,858,432 this past September.  This is a +$77,825 increase to our net worth or +2.72% by percentage.

This includes increases in our portfolio of stocks and real estate.

Cash flow was UP for October.

We ended up with +$5,423 of cash flow for the month which was nice.

*I had to make a small adjustment to account for some money in transition from my stripe cc account over to my bank… it’s also why I had to manually update the NW graphic too. 

Income for October was DOWN from the last month to $19,610.

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

All income entries are finally coming in fine, but I did need to adjust for some credit card income in transition. 

This was a nice month for income on a couple of fronts. First, we got some quarterly income in real estate this month (a syndication & partnership), plus our regular rental income. Rental income should also rise by the end of the year as we’re planning to bump the rents to be more in line with market rates.

I also had a nice pop of online income as I launched my first round of NFTs Unlocked.


October’s expenses of -$14,188 were UP compared to last month.

The major contributors to high expenses were advisory fees (although these were reduced in percentage overall recently) and insurance premiums. This included rental property premiums as well as our umbrella insurance which I just up’d to $3M.

Finally, note that our mortgage payment of $4000 includes our PITI (principal, interest, taxes, & interest) PLUS an extra $1820 that goes straight towards the principal (to accelerate our mortgage payoff). So, technically this is another form of savings.

I’m a bit focused on my NFTs group at the moment but am seriously considering shifting the mortgage to a HELOC to take advantage of the accelerated banking principal.

Portfolio Balances (Equities)

The markets marched forward steadily this past month.

I like seeing this, but at the same time, I’m feeling the high inflation like everyone else.

Thankfully we own assets that keep up with inflation, but it can be super frustrating and downright unfair for those who are saving their money. I talk about this idea in my book The F.I.R.E. Planner.

Our stock portfolio is up despite liquidating a couple of positions (~$25k). I used these proceeds to get additional exposure to crypto and long-term NFTs and plan to do even more in the coming year… especially on the next pullback.

I have been purchasing mostly through Coinbase and then transferring it over to my meta mask wallet so I can trade NFTs.

Oh yeah, remember my Spider-man NFT? The floor price went from $8500 to $14,000 this past month!

Final Thoughts

October was a great month financially and we’re nearing the elusive $3M mark. I’m not sure if we’ll hit it this year, but it would be kind of cool. That said, the older I get, the less I care about money. As a tool, it continues to serve its purpose and has blessed our family immensely, but I also want to remember to be a good steward of it and contribute where it’s needed most. In the end, we can’t take it, but we can direct its focus on areas that matter to us.

I’m excited to be growing something new that could potentially grow into a nice side hustle AND provide a lot of value to people. NFTs are just getting started, but they are definitely here to stay.

In Mark Zuckerberg’s “Meta” world, I can certainly foresee a day when we hang out personal NFT art within our virtual homes and meeting places. The world my grandkids will live in one day is going to be fascinating.

Speaking of NFTs, in addition to Coinbase’s big NFT announcement, Disney and VEVE just announced a new partnership that will bring a whole new round of fans to the NFT space. I can’t wait!

Readers, how was your October? What do you need to do before the 2021 year-end?


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7 Comments on “Financial Independence Update Report – October 2021”

  1. I’m a little late to the party, but amazing work Michael! $3M is a stellar accomplishment, and impressive since the ESI interview ;). Keep up the great work, that new book is going to help a lot of people follow your methodology.

      1. You bet, you balance of FI, and all the other projects you have going on is impressive. Speaking of, let me know if you ever need a guest on the new BM podcast, loving the episodes so far!

  2. Love the panda costumes! It’s crazy how the markets have been acting and October was a lot of people’s best months ever in terms of net worth growth.

    All I know is.. it can’t last forever but Jerome Powell is proving that it, in fact, CAN lat forever.

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