About

Welcome! I am Drew, and I am excited to share my personal finance journey.  Years ago, in my twenties and early thirties, I made several compulsive and costly mistakes that left me depressed and in a deep financial hole.  After hitting rock bottom, I committed to getting my financial house in order.

Now in my forties, I am blessed with a loving wife and two wonderful young kids. Unlike many financial bloggers who started saving and investing aggressively in their twenties, I have faced my fair share of failures and setbacks. However, I have learned from these experiences and am on the road to achieving financial independence.

Living in the high-cost state of New Jersey is challenging; however, we are determined to reach financial independence.  Our three main passive income strategies involve 1) selling option premium 2) mining and investing in Bitcoin and 3) investing in crowdsourced real estate.

After some internal debate, I decided to start this blog because I have a deep passion for personal finance and a strong desire to help others.  For far too long, I ignored my inner voice urging me to take the leap and to share my knowledge and insights. Furthermore, I am surrounded by friends and family who are still trying to figure out their spending habits and investments.  Hopefully, this blog will help some folks.

In addition, this blog serves as my outlet from a career where I often feel stuck and silenced.  I am grateful for my 9-5; however, if I do not take this leap, I will be filled with regret.  With this blog, I can freely express my thoughts, ideas, and aspirations while connecting with like-minded individuals who share a passion for financial empowerment.

Join me as we embark on this journey together.  Let us explore the world of personal finance, piece together the puzzle, and achieve the financial freedom we deserve. Together, we will create a brighter future for ourselves and our loved ones.

My Passive Income Strategies

My three main passive income strategies consist of selling option premium, investing in and mining Bitcoin, and investing in real estate. Additionally, there is a fourth approach, which I refer to as my YOLO (You Only Live Once) strategy because of the unpredictable returns. This potentially more volatile method encompasses buying options, warrants, and cryptocurrencies, with returns varying widely, from gains exceeding 100% to complete losses. Because of this volatility, we do not assign any estimated passive income to this strategy. However, we will furnish an end-of-year review and periodically publish insightful articles about new trades or noteworthy developments.

Passive Income Portfolio

My ultimate target for passive income is to achieve at least $240,000 annually. Currently, we are on track to attain $62,000 per annum, which represents approximately 26% of our overall goal.

Selling Option Premium

The majority of my passive income comes from selling option premiums, primarily through selling put options and short strangles. It is uncertain whether we will achieve the $36,000 return target this year, as we have been navigating some challenging positions, especially a strangle on NVIDIA. Moreover, each month’s profits are allocated toward covering the costs of Bitcoin mining. Instead of selling the newly minted Bitcoin to cover these expenses, I prefer to use fiat money, preserving the digital assets.

Mining Bitcoin

We operate numerous Bitcoin miners at various hosting sites, with most hosted by Compass Mining in Texas. Due to challenges arising from the hot summer months, some miners have had to be curtailed. As a result, it remains to be determined whether we will achieve our target return of $18,000 this year.

2-Unit Rental Property

We have been selling our rental properties in Connecticut, and this is the last one we own. Being a long-distance landlord has proven to be unenjoyable for me, even though my sister, who owns the other half, is local.

Real Estate Crowdfunding

I have recently begun to dollar cost average into investments on Fundrise. As I age, I find myself preferring to generate income from my desk through methods such as selling options, mining Bitcoin, and crowdfunding real estate, rather than dealing with the hassle of chasing tenants for rent.

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The information presented on ReclaimingFI.com is for informational purposes only. I am not a financial advisor, and the information provided should not be seen as financial advice. Please consult with a professional before making any financial decisions.

Investment Risks

Investing in financial markets involves a risk of loss, and there is no guarantee that all or any capital invested will be repaid. Past performance is not an indicator of future performance.

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