Step 2: Track Your Progress & Adjust as Needed

Once you start investing, it’s important to track your progress regularly, but don’t obsess over daily market fluctuations.

Instead of worrying about short-term ups and downs, focus on:
✔ Your Savings Rate – Ensure you’re consistently saving and investing.
✔ Investment Strategy – Stick to your plan and avoid emotional decisions.
✔ FIRE Timeline – Monitor your progress toward your FIRE Number.

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📊 How to Track Your Progress

In a future blog post, I will be writing up how I track my own progress using spreadsheets and Empower with examples. Stay tuned, or email me if you’d like it even sooner! In any case, below are my general suggestions.

• Use a Net Worth Tracker – Apps like Empower (Personal Capital), YNAB, or a spreadsheet help you track net worth growth.
• Check Your Savings Rate – Ensure you’re maintaining or increasing your annual savings rate.
• Review Your Investments Quarterly – Focus on long-term trends, not daily movements.
• Adjust for Life Changes – If your income, expenses, or goals shift, tweak your FIRE plan accordingly.

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⚠️ What to Avoid

🚫 Obsessing Over Daily Stock Market Changes – Markets go up and down, but long-term growth is what matters. Just remember, that if for some reason, the American stock market completely falls apart, you’ll have bigger things to worry about than retiring early. 🚫 Panic Selling During Market Dips – Stay the course; time in the market beats timing the market.
🚫 Lifestyle Creep – As your income increases, avoid unnecessary spending that delays FIRE.

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🔄 Adjust as Needed

As you get closer to FIRE, you may need to:
✔ Shift to a more conservative investment strategy.
✔ Plan for withdrawal strategies (4% Rule, Roth conversions, etc.).
✔ Make adjustments based on economic changes or personal goals.

The key is to stay focused on long-term progress and adapt as needed. 🚀💰