There is a new concept that’s all the rage in our little corner of the blogging world.
To MAP OUT your financial life on paper.
This serves 3 purposes as far as I can see. First,it shows you if you have unnecessarily complicated your wealth web. Second, it shows you where everything is going and forces you to think about that reality in terms of efficiency and goals.
Lastly, most of us love to look at other peoples stuff, face it, we probably have a problem.
Without further Adieu, Here’s Mine;
Orange involves destinations related to retirement.
Red equals money going away 🙁
What is that Color? Grey? Is Stashes of Cash or Sources of Income.
I did not even include several orphan accounts I have. Meaning the money is still sitting there, but there is no longer any funds being contributed and I will not withdraw any until retirement.
I also really have 2 stock accounts and 2 Deferred compensation accounts, but things were already starting to look busy. All the details are available here.
For those data miners who wish to delve deeper, I track how much out of each check goes to Retirement Savings and it what proportions. Also available; Fund Rates for my investments, growth of various Retirement Savings, and a line by line Paycheck Breakdown.
Oh What a tangled web we weave when first we practice to… over-complicate our lives.
I actually used this exercise to shut down 2 open credit cards and 2 extra extra bank accounts. The ‘Map It Out‘ strategy really did show me something I couldn’t see before.
Here are the other links in the chain so far; The Luxe Strategist, Adventure Rich, Minafi,the FrugalGene, Working Optional, OurFinancialPath, AtypicalLife, EccentricRichUncle, CantankerousLife, RetirementManifesto, DebtstoRiches, Need2Save, Money Metagame, OurFinancialPath, IDreamofFIRE, CYInnovations, SpillsSpot, Stupid Debt, LifeZemplified, TrailtoFi, HerMoneyMoves, TheLadyinBlack., FullTimeFinance, SmileandConquer, and AbandonedCubicle.