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July 2018 retirement goal update

July 31st, 2018 at 01:15 pm

Goal: $512,564 by March 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 $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).

Current balance: $421,009

May 2018 balance: $411,632

Progress: $9,377

We didn't have any progress in June, so this isn't as good as it looks. To reach the interim goal by the end of our birthday month (March) in 2019, that's 8 months, so we'd need to contribute (or have assets appreciate) $91,555 -- $11,444 per month -- to reach it.

We rarely come close to that, so it's pretty unlikely. But at least I'm making progress in the right direction -- nice to see the amount needed to reach this mini-goal has shrunk to a 5-digit number anyway!

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