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November 2017 retirement goal progress

November 30th, 2017 at 09:04 am

Goal: $494,743 by 2019

As a reminder, this is just an incremental goal along the way to 8x income by retirement. This mini-goal aims to get us to a milestone by the time I turn 45 and AS turns 40.

The milestone (which changes whenever our salaries change) is to get me to 3x my current salary, which is now $68,291, so $204,873; NT to 3x his, which is now $62,100, so $186,300; and AS to 2x hers, which in 2016 was $51,785, so $103,570).

(AS's goal may revise downward for 2018 because it looks like she'll make a little less this year. But we're thinking 2018 will be a bigger income year for her, so it may go up again the following reset for 2019.)

Current balance: $379,984

October 2017 balance: $372,435

Progress: $7,549

We had a big month! If every month were like this we'd reach our goal.

To reach the interim goal by the end of our birthday month (March) in 2019, that's 16 months, so we'd need to contribute (or have assets appreciate) $114,759 -- $7,172 per month -- to reach it.

I'm suspicious of all the market gains, so I feel like we're going to see a fall soon. I guess it'll depend on timing as to whether we'll recover in time to get close to our interim goal. Only time will tell.

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