Currently
My wife and I both currently work W2 jobs, and have for the duration of our marriage with the 3 year 9 month hiatus that my wife took to stay at home and work hard on building our awesome son up to be ready for the real world phase 1, pre-school. We currently own two single family rental homes, a fitness Boxing Franchise, and most recently invested in a Multi-Family Real Estate Syndication in Augusta, Georgia.
Finally, while its currently locked up in retirement accounts, we invest in index funds via Vanguard and have a growing retirement account that will be converted via ROTH Conversion ladder methods when we’re ready in lower income years. We have a couple years’ worth of H.S.A. Contributions invested in Index Funds, and wish we had fully funded all of the years we were eligible! We have a taxable brokerage account as well that we haven’t exercised yet, but may be a place we consider parking some cash for gains above and beyond our high yield savings account to park cash waiting to be deployed into other investments.
Mid Term Goals
We are aiming to build our passive income streams to cover our basic expenses to provide flexibility on what we do next in our careers. We can keep buying houses, syndications, a laundromat, or invest in more index funds in our taxable accounts but our ultimate goal is to reach one or both of the following avenues in the long term goals section. For our midterm goals, we want to grow our Net Worth well over $1,000,000 to achieve Accredited Investor Status. We’re approaching this benchmark in 2022, however a correction in the equities or real estate market could cause for a significant net worth drop, and thus have to wait for recovery.
Long Term Goals
We want to achieve Accredited Investor status to then turn around and invest into large Multi-Family or Commercial Property deals as Limited Partners. I don’t envision ever becoming a Developer or Syndicator in any capacity, but I aim to work with them to advance our net worth, passive income, and ability to be truly financially free. We are ultimately considering building up our midterm goals assets, selling them, and exchanging into one or two big deals. That may need to happen in pieces, but eventually this is where strive to be.
