June 2025 FIRE UPDATE – Retire by 40

Hey Everyone! Did you have a good month in June? I’m a bit late with this update, but life has been hectic at the RB40 household. We’re getting ready to take a road trip to California and there are so many things to deal with. Also, we are getting ready to remodel our kitchen. Man, it’s expensive and stressful.  

On the personal finance side, things are good. Our net worth hit a new high because the stock market is nuts. I’m still bracing for a downturn, but I’ll enjoy feeling rich while we can. On the other hand, our cash flow was negative in June. This will be the new normal going forward. We are entering the drawdown phase of life. I’ll write a post about it soon. I feel okay because our withdrawal rate is pretty low. It should work out.  

Alright, I’ll share how I’m doing with my New Year goals. Then, I’ll go over our net worth and cash flow. Let’s go!

2025 Goals

Here is my 2025 goal spreadsheet. It’s great. Try it out if you can’t keep up with your New Year goals. The key is to review the spreadsheet monthly to track your progress. That way, you can see which goals need extra attention and work on them.

It looks like I’m on track for most of my goals.

Financial Goals

Sell Rental Condo

This was my main goal for 2025. The previous tenant moved out of our rental condo in January. I fixed it up and listed it for sale. Unfortunately, the condo market was terrible in Portland. We only had one viewing over 4 months! I think buyers are afraid right now. The economy is too uncertain and the interest rate is high. That’s why I decided to rent out the condo for now. We’ll put it on the market again in a few years.

Anyway, I plan to travel more and don’t want to be a landlord. I’d rather invest in real estate crowdfunding. That’s much easier.

Prep duplex for sale

Along the same line, I want to sell our duplex* after RB40Jr finishes high school in 2029. We want to move to California to be closer to families. Mrs. RB40’s parents are getting older, and they need help.

*We live in one unit and rent out the other.

This year, I wanted to repaint the exterior. However, the plan changed to kitchen remodeling. We are getting the cabinet resurfaced and a new countertop. This will give our kitchen a much-needed facelift. I’m looking to put new flooring in the kitchen as well. I’ll probably do the flooring myself. Remodeling is no fun.

Max out my Roth IRA

The Roth IRA is the best investment account you can have. You don’t have to pay tax on the gains when you withdraw. This is huge. If you start young and max out your Roth IRA every year, it’ll be a great resource in retirement.

I’ve maxed out my Roth IRA contribution for over 20 years. But that streak probably will end this year. My earned income is decreasing rapidly. After 6 months, I only made $3,594. At this pace, I’d be lucky to make $6,000 this year. That’s less money than I made when I was a teenager…

Track net worth and hope for +10%

I’ve been tracking our net worth since 2006. It’s great to see the progress. This year, I’d hoped for 10% gains. At this point, it’s all dependent on the stock market and there isn’t much I can do to influence this goal. I’ll track it and keep my fingers crossed. This a stretch goal.

Our net worth is up 3.8% since the beginning of the year! That’s way better than I expected.

Health Goals

Exercise more than last year

Last year, I set a goal to exercise 3 times per week. However, I developed elbow pains and I had to scale back a bit. The result: I exercised 120 times in 2023. That wasn’t bad, but I’d like to do more this year.

In June, I took the month off from going to the gym. I went to yoga, biking, and hiking instead. However, my joints are still in pain. It’s time to check in with the doctor about this.

Win claim denial

Last year, RB40Jr got a Cochlear Implant to improve his hearing. He has 50%-80% hearing in his left ear. He tried a hearing aid for a few years, but it didn’t help much. He can hear some sound with his left ear, but he can’t understand speech on that side. 

Recently, the FDA approved Cochlear implants for children. At first, I thought we could wait until RB40Jr is an adult. Then he can decide for himself. However, our audiologist said the earlier you get the implant, the better. If you wait too long, the brain might not be able to adapt.

Anyway, he got the implant last year. However, the insurance denied the claim. They said Cochlear Implant is experimental and doesn’t improve overall health. This is ridiculous. The device has been used since the 80s to improve lives. We are fighting this denial. I think health insurance companies are denying as many claims as possible to improve profits. Many people become too ill to fight the denials. No wonder everyone hates health insurance companies.

Latest update – The insurance denied the appeal. We’re filing another appeal. This is ridiculous because RB40Jr’s hearing improved quite a bit since the surgery.  

Fun goals

Sell my ceramic projects

I took some ceramic classes at the community center and had a blast. My projects aren’t professional level yet, but I’ll try selling a few items this year at the community center’s art sales.

I sold about $190 in the Spring Art Sale! That was incredible. I didn’t expect to sell that many pieces. The community center took a 35% commission. That’s perfectly fine. I’m glad to support them.

My latest piece – a piggy jar.

More dates with the Missus

This year, I want to go out with Mrs. RB40 more often. If you’re a parent, you know how difficult this can be. Fortunately, our son is a teenager now. We can go out whenever we want. However, I need to overcome my reluctance to leave the house in the evening. We park in the street and finding a spot can be frustrating at night. Ugh! I’d rather hunker down at home than go out to a restaurant.

I‘ll go on date lunches with Mrs. RB40 instead. That’s way easier. Who wants to leave home after dark?

In June, we had 1 lunch date. That’s pretty sad. The month flew by and we were busy with all the healthcare stuff. Mrs. RB40 was stressed out about the insurance appeal.    

Happiness level > 8

I’m a naturally happy guy so this should be easy. Life has been great over the last few years.

I had a pretty good month. However, Mrs. RB40 was stressed out. This made life tough for everyone.  

Net Worth (+3.8%)

I’ve been tracking our net worth since 2006. It is very motivating to see our progress. The power of compounding is incredible. Our investment gains far outpace our earned income last year.

2025 has been pretty crazy. The stock market is doing much better than I expected, but I’m still pessimistic. I think we’ll see a big downturn soon.

***Important*** If you’re young, my best advice is to stay the course. Do not stop investing. You should keep investing whether the stock market is up or down. You might think stocks are too expensive, but it’ll look cheap in 10 years. Keep investing and you’ll achieve financial independence someday. Don’t try to time the market. If you’re retired, then you need to be more conservative and diversify.

This is a chart of our net worth from Empower. Sign up for a free account at Empower to help manage your net worth and investment accounts. I log in often to check our net worth and use their free tools. It’s a great site for DIY investors.

June 2025 FIRE Cash Flow

This FIRE cash flow chart includes my online income, side gigs, and taxable passive income.

June 2025 FIRE Income: $2,879

My FIRE income improved in June. However, it looks like I’m transitioning into full retirement. This year will be the first year we’re drawing down our retirement savings.

• Real estate crowdfunding: $0. You can read more on the RE Crowdfunding Passive Income page.
• Dividend Income: $1,801. Good month for dividend income.
• Rental Income: $759. Yay! The rental condo is generating income.     
• Online income: $177. Blogging income is approaching zero quickly. Maybe it’s time to move on to something else.
• Odd jobs: $142. I delivered a few catering orders per week. It’s an easy gig that pays pretty well. Last month, I only delivered 4 orders because we had a bunch of meetings with contractors. I’ll probably stop doing this side hustle in 2 year.       

Spending: $4,384

Our spending was good last month.

• Housing: $1,302. This includes mortgage, utilities, furniture, repair, and maintenance. Our housing expense is low because we live in a duplex. We split many expenses with our tenant.
• Transportation: $1,137. Gas, parking, and insurance. Repair is getting more expensive. Hopefully, the car will be okay for the rest of the year.
• Entertainment: $207.        
• Groceries: $706. I thought Trump was going to make grocery cheaper. I guess that was a lie.
• Health: $108.       
• Kid: $648. Unfortunately, kid related expenses are increasing as RB40Jr gets older. We are making payments for his orthodontist, an international school trip, and various activities.    
• Personal: $227.  
• Travel: $0.

Retirement Savings: –$1,505

June 2025 wrap-up

June was a stressful month for us. We were busy dealing with the insurance denial and contractors. Mrs. RB40 was putting together another appeal and she was stressed out. The kitchen remodeling project was also stressful. We met with kitchen contractors and picked out the features. That was fine, but the flooring was separate. I have to figure that part out myself. Currently, our kitchen floor is covered with these old ceramic tiles. I plan to put rigid LVP over it and hope for the best. We’ll see how it goes.

That’s it for June. Did you have a good month? 

Passive income is the key to early retirement. These days, I’m investing in commercial properties with CrowdStreet. They have many projects across the United States. Go check them out!

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Joe started Retire by 40 in 2010 to figure out how to retire early. After 16 years of investing and saving, he achieved financial independence and retired at 38.

Passive income is the key to early retirement. This year, Joe is investing in commercial real estate with CrowdStreet. They have many projects across the USA so check them out!

Joe also highly recommends Personal Capital for DIY investors. They have many useful tools that will help you reach financial independence.