A UK pension statement came in the mail; since I can't check them online it's the only time I get one. The Scottish Widows pension value has increased from 26,544 pounds last year to 28,134 pounds this year. I'll reflect that in our net worth update at the end of the month.
Archive for October, 2018
I hate having to wait a day for my US mortgage to hit the actual account, because sometimes I then forget to update my debt totals! But anyway here I am, better late than never.
All our mortgage payments hit:
US Mortgage: $730 to principal
UK Mortgage 1 $179
UK Mortgage 2 $39
UK Mortgage 3 $38
All told, that's $986 to principal this month.
Current debt totals:
US Mortgage $384,641
Loan from friends (duplex) $9,000
UK Mortgage 1 $31,769
UK Mortgage 2 $6,696
UK Mortgage 3 $7,053
TOTAL DEBT $439,159
Wow, I haven't blogged properly for months! Life is just busy, I guess. Some highlights:
- Social life is good. Making/keeping/deepening friendships is a LOT of work, but I'm loving hanging out with folks when I can corral them. Next week I'm going to Wisconsin to see my fave band and my Canadian friend!
- AS's big freelance job is still chugging along; she's invoiced for about $8K of the possible $32K. They pay weekly for however many hours she worked the previous week, which has been GREAT for our shared spending!
- We applied AS's increased income plus NT's third upcoming October paycheck to eliminate the shared spending deficit and begin saving up for renovations once again. We've fallen out of touch with our kitchen designer, but we probably won't nudge her until we've built up the savings to more than they are now.
- Most of the goals I set at the beginning of the year have fallen by the wayside, except learning guitar. I love guitar! I still take lessons weekly and practice almost daily. I can play almost 20 songs, I think.
- Another unexpected project I didn't foresee on Jan. 1 but am still working on is planning a novel with an old college friend who lives in NYC. We're slowly bringing the plot and characters into focus and I hope to have a detailed outline done in time to work on the novel in November. Doing a shared project for NaNoWriMo is an iffy proposition but hopefully there's no harm in trying it this once. I just need to figure out a way to keep working even if my friend gets busy or stuck, so I can get to my 50K words by the end of November!
- Also, it's become something of a habit to see more music live! There were a few years when I really didn't feel inspired by music but I'm getting really into it again. In addition to the October show in Wisconsin, I have tickets to FOUR concerts in November! And I discovered another local act I really like; he's taking a 2-month hiatus from playing live, but I'm looking forward to when he starts playing around again.
- My work just started up the pedometer challenge, which is 4 weeks in October. I know I'll do enough steps to get the $25 gift card; the real challenge is doing enough steps to get one of the $100 weekly prizes. We shall see! I did finally order some new sneakers which I've been meaning to do for months.
- We decided to do a staycation in October instead of going to a lake. Still deciding what fun things to do but we've got $750 set aside for the 5 days, so I'm sure it'll be great! Our next trip as a family will be to the UK, leaving the day after Xmas and coming back in the first week of January.
- Work is good, family is good, everything is trucking along!
Goal: $512,564 by March 2019
Current balance: $436,289 ($76,275 to go)
July 2018 balance: $431,075
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 $75,120, so $225,360; NT to 3x his, which is now $62,100, so $186,300; and AS to 2x hers, which in 2017 was $50,452, so $100,904.
To reach the interim goal by the end of our birthday month (March) in 2019, that's 6 months, so we'd need to contribute (or have assets appreciate) $76,275 -- $12,713 per month -- to reach it.
We rarely come close to that, so it's pretty unlikely. But at least we're making progress in the right direction!
NT's UK pensions:
AV: 17,967 pounds ($22,459)
SW: 26,544 pounds ($33,180)
FL: 6,462 pounds ($8,078)
NT's 401(k): $70,321
NT's Roth IRA: $30,975
AS's trad. IRA: $19,888
AS's Roth IRA: $51,078
AS's SEP IRA: $27,988
CJ's 401(k): $137,166
CJ's Roth IRA: $35,156
NT's flat: $212,500 (200,000 pounds value x1.25 -15%)
CJ/NT/AS house: $427,281 ($454,554 value -6%)
TOTAL ASSETS: $1,076,070
US Mortgage $385,371
Loan from friends (duplex) $9,000
UK Mortgage 1 $31,948
UK Mortgage 2 $6,735
UK Mortgage 3 $7,091
TOTAL DEBT $440,145
Current Estimated Net Worth: $635,925
August 2018 estimate: $629,727
Change in net worth: +$6,198
Summary: OK gains this month, mainly due to debt payment and retirement contributions, not market growth. My 2018 net worth goal of $650K still seems within the realm of possibility! We would only need to gain about $4700 per month October-December to get there...
Notes on the numbers above: House value estimates are approximate. (I do have my eye on a comparable listing for the UK flat, but it's been on the market a long time.) UK pension values updated about once a year. UK asset values and debt amounts are calculated figuring $1.25 for every British pound.