How are your New Yr’s resolutions going? I haven’t made mine but. It normally takes me a month to set them up. Earlier than attending to these new ones, I would like to shut out 2024 with a evaluate of the previous ones.
Often, I do a month-to-month replace, however I’ll focus extra on the annual outcomes. Will probably be a mixture.
Private Month-to-month Recap
In December, we:
- celebrated my spouse’s birthday
- watched Santa come to city on a ship
- acquired destroyed in a Lego robotics competitors (however had a number of enjoyable)
- ran a mile in Christmas costumes
- watched my son carry out in It’s a Great Life
- watched our children carry out within the college refrain
- walked via a holiday-themed $500 million greenback mansion
- went to the Enchanted Village to see actually creepy animatronics that my spouse and I grew up with 60s and 70s
- went to Clement Clarke Moore’s home, who wrote ‘Twas the Night time Earlier than Christmas… on the night time earlier than Christmas
- took a visit to spend a few hours on the Lego retailer in NYC to construct a customized minifigure
That final merchandise is vital as a result of we needed to cancel our journey after a few hours. The yr ended on a curler coaster. On a low be aware, our canine sitter misplaced our canine for 3 days, however on a excessive be aware we discovered her, and she or he’s now protected and sound.
Often, I publish some some footage from the final month, however the yr finish evaluate has taken extra time to put in writing up. I simply need to hit the publish button!
Again to the Passive Revenue and Targets
I put my targets in a spreadsheet and evaluate it as soon as a month. I do know that I’ve too many targets to finish all of them, nevertheless it provides me the liberty to work on no matter strikes my fancy. Most individuals discover it much less overwhelming to deal with fewer targets. That’s simply another excuse why I’m bizarre. Do no matter works for you.
Right here’s how the yr went. I’ve put the yearly numbers in daring:
Click on for a bigger model in a brand new window
Passive Revenue
I’ve three facet hustles with a passive part: a dog-sitting enterprise, this weblog, and managing an internet site for a non-profit. All three require some energetic work. Nevertheless, I can receives a commission for all three even whereas working a full-time job. That’s why I think about them considerably passive earnings. (If this definition of passive earnings appears off or complicated, please seek advice from my the final stand-alone article on passive earnings, the place I give a way more detailed rationalization.)
Canine, Weblog, and Internet Revenue
Canine boarding was pretty poor in December. The deliberate trip after Christmas meant that I needed to flip down a great quantity of enterprise. Running a blog had a bit of rebound as a result of I beneficial some merchandise round Black Friday and Cyber Monday. The passive earnings for the non-profit web site has been the identical all yr lengthy. For the month, we made $2260.
As a result of this sort of earnings requires some energetic work, I solely rely half of it as passive earnings. For the yr, that quantities to $28,368 from this part. The VAST majority is from the canine sitting. Running a blog earnings has fallen off a cliff and net stuff continues to be small potatoes.
Rental Property Revenue
We’ve two rental properties. They nonetheless have 15-year mortgages, so the rental earnings is only a couple hundred {dollars} greater than breaking even every month. We’re virtually executed with one mortgage, however the different needed to be refinanced as a part of a 1031 alternate. I anticipate that they’ll make round $25,000 a yr after bills once we’re executed paying off the mortgages.
For the aim of this report, I calculate their earnings utilizing the next formulation:
(Rental Revenue After Estimated Bills) * (Fairness Share Owned) = Passive Revenue
Estimated bills are insurance coverage, property taxes, rental charges, and estimated rental upkeep. Fairness Share Owned (EPO) is our whole fairness divided by the property worth in Zillow. (Zillow could be very correct for our condos.)
I calculate the rents on the properties at round $2,657/mo., after bills. This calculation is a bit of disingenuous as a result of I common what our true rents are and what the market says they need to be. We must be charging much more, however we’ve got good tenants, and we’re making an attempt to be form, contemplating the exploding housing prices.
Zillow says our rental properties have been price $3,000 lower than final month. Recently, these modifications of 1% of the worth have been pretty widespread. We proceed to repay a thousand {dollars} of mortgage debt on them each month. That principally cancels out in terms of the EPO. This month, we owned 82% of the properties. Utilizing the equation above, this could be $2,179 in month-to-month earnings.
Managing rental properties requires some work – a couple of days a yr. For that reason, I solely rely 80% of this quantity as passive earnings. That signifies that I can solely rely $1,743 for December’s passive earnings.
For the yr, we remodeled $42,000 in fairness and about $4,000 in money stream. It wasn’t an excellent yr for actual property in comparison with the inventory market, however that’s not unhealthy in any respect.
Dividend Revenue
My spouse has been maxing out her retirement accounts for a bit of greater than 20 years. I maxed out my retirement accounts for my first ten years of employment, nevertheless it acquired a lot harder after I grew to become self-employed. At that time, I principally centered on maxing out my Roth IRA and a bit of on my SEP-IRA. Investing this cash for thus lengthy has created fairly the nest egg for us.
For the dividend earnings portion of our passive earnings, I assume we invested all the cash in brokerage accounts (retirement and non-retirement) into an ETF that conservatively pays a 2.5% dividend. I exploit this 2.5% quantity as a result of I’m too “Lazy” to trace the precise dividends from all accounts. Additionally, dividend funds are very inconsistent, with most funds coming quarterly. Is 2.5% a good quantity as an estimate? I’ll allow you to be the choose, however one ETF, iShares Core Excessive Dividend (HDV), is paying round 3.47% proper now.
I even have profit-sharing earnings with a personal firm wherein I personal a small stake. I get a test every month that behaves like a dividend – it’s simply taxed a bit of otherwise.
This month, our dividend earnings utilizing this estimation was $5,045. The markets gave up all of the loopy election positive factors.
For the yr, this month-to-month dividend quantity went from $4,448 to $5,045 for a acquire of virtually $600. Ending with over $60,000 is superb.
In contrast to the earlier two sections, this earnings is 100% passive. For that reason, I don’t have to regulate the numbers.
Whole Passive Revenue
Canine/Blogs: $2,260 – Adjusted to $1,130
Leases: $2,179 – Adjusted to $1,743
Dividends: $5,045 – Stays at $5,045
Canines/Blogs Blue Line
Rental – Crimson Line
Dividend – Yellow Line
Whole Adjusted Passive Revenue: $7,918.20
Right here’s a graph of the numbers since 2017, after I began protecting observe:
(The blue line represents the month-to-month whole adjusted passive earnings. The Crimson Line represents the 12-month common. This helps take away a number of the seasonality of canine boarding.
For all three areas in whole, we made $104,679. Final yr all three areas got here to $95,182. The expansion was fully from the rental and dividend space.
My spouse continues to work as effectively. She now has 25 years within the navy and will likely be getting a pension that successfully doubles all this passive earnings. Her job has gotten simpler and seemingly extra enjoyable, so she would possibly keep 30 years and develop the pension extra.
I can’t consider anyplace else to place this info, however our internet price misplaced 1.87% final month. Total, we completed the yr up 13.24%.
Some folks observe their spending to know the place their cash goes. I’m too lazy, so I simply take a look at the liquid money quantity. Our liquid money completed down $22,000 for the yr. That’s not nice and it provides us one thing to work on in 2025.
Enterprise and Different Cash Targets
Private Revenue ($85,000)
Two years in the past, I remodeled $98,000 in facet hustles. Final yr, I made $88,000. In 2024, I in the reduction of on canine boarding and aimed for $85,000.
With running a blog falling off a cliff, I didn’t make that decreased purpose. As an alternative, I made $81,217.
Full Property Planning
We acquired 95% of the best way executed with this one. We simply need to signal the engagement letter with the lawyer and end a few minor particulars.
Child Wealth (Aim: 50,000 Web page Views)
In 2024, I hoped to get 50,000 lifetime web page views on Child Wealth.
In 2022, I launched Child Wealth and wrote a number of articles. It had 4,200 web page views that yr. In 2023, I acquired concerned in different initiatives, however visitors tripled to 13,708. This yr, I’ve solely posted a few articles – ouch. Luckily visitors is up this yr for a complete of 17,278 web page views.
Child Wealth has as much as 35,186 views all-time. If visitors stays regular, I’ll lastly full this one close to the tip of 2025.
Skilled Enhancements
This yr, I up to date my LinkedIn and refreshed a few of my tech abilities in getting WordPress to run on Amazon Internet Providers. I additionally labored a bit of on creating an internet site for some freelance work. I’m giving myself a 30 out of 100 on this one. There was a number of room for lots extra.
Well being
I put much more deal with my well being in 2024. With a great monetary scenario, the purpose is to be wholesome sufficient to spend all of it effectively.
Lose Weight and Physique Fats (Aim: 175lbs, 22.5% physique fats)
I began on January 1st at 192.5 kilos and 26.3% physique fats, in keeping with my Fitbit scale.
I did an enormous reveal on my weight and physique fats a couple of days in the past. I misplaced 12 kilos and three% physique fats via eating regimen and train and hit a wall. I couldn’t get persistently beneath 180lbs and 23.5% physique fats. In the midst of November, I attempted semaglutide and completed the yr at 174.6 lbs and 22.4% physique fats.
In some methods, it appears like I cheated to get to my purpose. Nevertheless, I’m taking a look at it as a colossal win. If I had simply maintained the 180lbs the place I hit the wall, that will have been sufficient of a win. Nevertheless, I did that, and now really feel like there’s a path ahead to lose much more weight. I have to get to 164 kilos for my 5’8″ peak to provide me a BMI studying within the wholesome vary.
Well being Factors (Aim: 350)
This yr, I’m monitoring my well being by giving myself a rating on the finish of the week for eating regimen and train. The highest rating in every is 5 factors.
Once I give myself a 5, I’m saying that I usually had the moderately finest week potential. I can solely have a few off meals every week and nonetheless get a 5. The remainder of the time, I’ve to eat with a function, equivalent to half fruit and veggies or half plant protein. If exit to eating places and simply eat no matter I need, then I’m solely going to get one level.
For train, I’d need to put in a really strong effort day by day to get a 5. In the beginning of the yr, I acquired principally one level every week. The climate wasn’t excellent, and I wasn’t motivated to train. Since spring, I’ve began strolling extra – typically getting in 10,000 steps a day. I have to do increased cardio and weights, however this can be a step in the best route.
With 52 weeks, I can earn a most of 260 well being factors every for eating regimen and train.
I completed the yr with 266 factors. I’ve missed my purpose of 350 factors, however I do know it’s helped me make a lot more healthy selections. In 2025, I’ll intention for 300 factors.
Well being Appointments
Medical appointments are a vital a part of staying wholesome. That is what I did for the yr.
Dental – I did a few deep cleanings this yr. It was two separate appointments the place they did one facet after which the opposite. I had my common cleanings and filling changed.
ADHD – I lastly acquired identified with ADHD. Getting the usual testing with a specialist was not possible, with the scheduling being months sooner or later and their insurance coverage insurance policies altering at the moment. Lastly, I did an evaluation at ADHD On-line and paid out of pocket. I introduced the outcomes to my major care doctor, and she or he prescribed me a really low dosage of Adderall. It’s been very useful.
Physique Evaluation – In February, I acquired a physique evaluation from DexaFit after watching “You Are What You Eat” on Netflix. They scanned my physique utterly for physique fats. I additionally acquired a VO2 max check for cardio health and an RMR metabolic evaluation. The outcomes weren’t what I used to be searching for, however they are going to be a great baseline. I have to guide one other check and see the way it appears for this yr. I’ll be carrying 10-12 fewer kilos, which must be so much higher.
Annual Bodily – I’ve had a couple of appointments with my physician for a yr now. Typically, it’s simply the annual bodily, however I additionally went for my ADHD and one different time.
I began a quest to regrow hair and the earlier than and after footage present nice progress.
I additionally began to strive anti-aging lotions. Hims has a mixture of some completely different prescription lotions. (That Hims hyperlink is an affiliate hyperlink, so I’d earn a couple of {dollars} if you buy after clicking.) I began each day sunscreen. I even began utilizing snail mucin, which got here up as an affordable Amazon Prime Day merchandise. I noticed sufficient constructive opinions to provide it a shot, and I prefer it. I’m purposely not going to call a model or something as a result of I understand how scammy pores and skin lotions are. I don’t need you to suppose that I’m making an attempt to make a penny of pitching a model.
I’ve concepts for a complete new set of well being targets for 2025. It is going to doubtless be a separate article.
Hobbies
I rapidly made up some hobbies to strive final yr. That is at all times troublesome for me.
- Be taught AI
I got here up with this one considering that I’d learn to be an skilled immediate engineer. There’s positively ability concerned in getting essentially the most out of AI, nevertheless it appears pretty simple to get good outcomes. Through the election, I used AI to assist me write articles concerning the financial system that will be freed from any political bias that I had. After all, I disclosed the AI response so you would see the consequence.
- Canva
I’ve solely used Canva as soon as this yr, nevertheless it was simple. Perhaps this isn’t a “ability” that I really want to study. I assumed I’d use it extra for photos in weblog posts, however AI could make one thing that’s ok.
- 3D Printing
I by no means discovered time to determine the issue I’m having with the filament loading. It’s in all probability a fast YouTube video. The 3D printer I purchased is within the basement, and it’s chilly this time of yr, so it’s out of sight and out of thoughts.
- Rubik’s Dice
My 11-year-old acquired into velocity cubing final yr and may do it in 90-seconds. It took a bit of observe many weeks of the yr, however I can do it in about 2.5 minutes now. Perhaps this subsequent yr we’ll study the extra sophisticated, however sooner, algorithms.
- WordPress Weblog as a Journal?
This didn’t occur. I’m not excited by putting in WordPress on my native pc to put in writing a journal. There are apps on the market which can be higher suited to that.
- Program in Python
I did some freelance net stuff that helped knock the rust off. I’m giving myself partial credit score for this one. I’ll in all probability put this again on the checklist, however mix it with AI, in order that I’m programming in Python with AI. Then, maybe I’ll have to tweak issues manually.
- Be taught to fly a flight simulator and play backgammon
I didn’t do both of those. Perhaps I’ll push them to 2025. I’m unsure if I’m excited by them sufficient.
- Play a contemporary tune on an ukulele
I acquired the ukulele out and tuned it, however acquired no additional. That is positively happening the checklist in 2025.
Total, this will likely not appear to be a number of progress, however I’m counting the Rubik’s Dice for lots. We acquired a brand new canine early within the yr, and coaching her might have simply been the most important “pastime.”
Household
Declutter and Arrange Home
This yr, we wish to declutter, manage, and improve the entire home. We employed a buddy who’s an inside designer and she or he put collectively a great plan. For years, we had a number of low cost Ikea furnishings. It did the job, however we could be a little extra fancy now. In Could we completed the eating room, which is one in all our smallest rooms.
In July, we cleaned out the workplace to make room for brand new desks. We additionally cleaned up the basement and made it rather more practical. We now have a bit of exercise space and an space for the children to play. I arrange a few of my previous gaming consoles and made them simple to play.
In August, we acquired the brand new desks and bookshelves for the workplace. It’s from Pottern Barn – the stuff that way of life inflation is made from.
In September, I acquired about half of my stuff organized into the workplace desk and bookshelves. I additionally did a bit of work on decluttering the storage. Our outside lighting fixtures have been 30 years previous and failing, so we changed them with the assistance of an electrician.
In November, we ordered a pair of Herman Miller Mirra chairs from an workplace clearance web site. If we had purchased two of them new, it will have been $2500. As an alternative, we paid below $1000. I don’t thoughts paying a lot for the chairs as a result of they’re top of the range at a reduction. We acquired them in December, and so they’ve been nice. I don’t suppose anybody ought to pay full worth for workplace furnishings like desk chairs. It looks as if there are at all times some firms going out of enterprise and a few liquidation happening.
We’ve acquired a lot of concepts for 2025. House upkeep isn’t executed.
Journey
In March, we spent every week on a Yucatán Peninsula cruise on one in all Royal Caribbean’s greatest cruise ships and one other week at Disney World.
In April, we went to the eclipse and did a day of snowboarding. Often, I wouldn’t rely weekends as journey, nevertheless it was a notable life expertise.
In June, we went on our annual journey to Block Island. We are able to drive to the ferry in a half hour and be on the island in 90 minutes. It’s a pleasant staycation for 4 days. The spotlight was a scavenger hunt that we did on our telephones. It was all digital.
After all, the massive August journey was to see Paramore and Taylor Swift, go to Stonehenge, and do a Beatles tour in Liverpool.
In October, the entire household went to Atlanta. I had my FinCon convention, so the resort room was already booked. My spouse is aware of lots of people on the CDC and needed to satisfy up with them. The youngsters got here alongside to see the Coca Cola manufacturing unit and the most important aquarium in the US. It was a brief journey, however nonetheless precious.
We tried to squeeze in a single final highway journey earlier than the tip of the yr (NYC, American Dream in NJ, and Hershey Park). Nevertheless, our canine sitter misplaced our canine, and we solely acquired to spend a few hours in NYC.
Children
Each youngsters virtually have their black belts in karate. Lately, the co-owners of the martial arts dojo bumped into some unhealthy luck, in order that they haven’t held the ultimate assessments in a number of months. The 12-year-old continues to do a number of appearing – normally about 4 performs a yr. He simply accomplished his Boy Scouts Tenderfoot. He’s on the varsity swim crew, too. He did a 13+ cooking camp (he was 11 on the time) and did an in a single day camp for Scouts. He’s within the college’s yearbook membership as effectively.
The 11-year-old does the stage crew stuff for the performs. He additionally accomplished an artwork camp. He did a month of crusing camp which was two periods. He’s virtually accomplished all his necessities to complete Cub Scouts and be part of the Boy Scouts. He’s at present on the varsity basketball crew. He joined the varsity’s inexperienced membership.
Each youngsters did the FIRST Lego League Problem, which is an introduction to robotics.
Total, they’re very busy youngsters. I believe they’re too busy, however their college requires sports activities and pushes a membership. That’s tremendous, however we’ve got our personal issues, like martial arts and Scouting, that we imagine assist construct a powerful character. In the event that they discover issues that they really love, like appearing and crusing, we need to make room for these as effectively. We all know a number of different youngsters who’re simply as busy.
Closing Ideas
It’s laborious for me to price 2024 as something lower than an amazing success. I by no means would have thought that I’d stick with and attain as a lot on the well being facet. Even earlier than I began the semaglutide in November, it had been a number of years since I made as a lot weight reduction progress. I’m now at a weight that I used to be when the children have been 3 and 4. I really feel a couple of years youthful, too.
