Table Of Contents (Jump Links)

Introduction

Welcome to the first Monthly update of the Beach House Project where I walk you thru starting with ZERO and making your first $100K

They say making your first $100K is the hardest and once you’ve done it you’re 1/3 the way to a million because the compounding effect of just getting started is huge!!

On September 23rd 2023 I decided instead of just thinking about a beach house I was going to turn it into a reality! to do this I need to come up with a $100K down payment.

What I’ve done this past week.

I opened a brokerage account!
1. I opened an M1 Finance brokerage account. I talk about why I selected this company in my first article So far I’ve been very happy with it. it was easy to setup and link my bank account to and set up my investing pies (what they call allocations over at M1)
I funded this account with my first $100!
I know $100 doesn’t sound like a lot but hey we all have to start somewhere! I mainly wanted to get some money in there so I could play around with the app and learn where everything was in preparation for moving some serous money in over the next few years
I set clear measurable goals (Below)
I started researching beaches!!
1. Really like the Ocean Isle and Holden I’ll be doing some in depth research in the future. for now I just know I want my own slice of paradise, most likely in United States

My Goals

Buy a beach house or have enough invested I can rent a beach house whenever I want anywhere I want without thinking about money

Specific Goals:

$100,000
5 years (by end of 2028)
Monthly Updates for accountability
Show others how to start from $0 and become financially independent

What I want to do is encourage anyone who has $0 to get started, and make a life changing amount of money

Progress Update

This section is pretty brief this month since I’m just starting, for the first week I’ve invested markets were down. As a whole I’m down $0.88 so far.

Now I know what some of you are thinking!! OMG He’s already losing money!! what the hell am I listening this this guy for?!

As someone who retired at age 32 (now age 36) Trust me I know what I’m doing, but I promise to keep it real with you guys, and not make my numbers up. I’m down this week and that’s what I’m going to report!

The Details

In my original post for this project I outline the strategy behind my allocations, you can use whatever you’re comfortable with. Personally I feel safest with a well diversified index portfolio. I talk about what risks I’m trying to manage in My Simple 3 Fund Strategy article. Do your own research everyone’s life situation and finances are different. I’m a slow and steady kind of guy when it comes to investing but I also have healthy emergency fund reserves so I can tolerate some volatility.

As a quick reminder here are my target allocations.

70% $VOO SP500 Fund (S&P500 fund)
10% $SPHD (SP500 High Dividend Fund)
10% $JEPI (JPMorgan Equity Premium
10% $VXUS Total International Fund

That’s it for this update! it’s only been a week but it’s already feeling much more real now that I have a dedicated account and have a concrete solid plan I’m acting on to work toward my goal of a beach house!

News Letter