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Archive for February, 2019

February 2019 debt payments

February 10th, 2019 at 10:27 pm

I have so many balls in the air right now, I feel slightly behind on everything, including blogging!

I only now checked our mortgage payments to see our new balances.

US: $739 to principal
UK1: $178
UK2: $38
UK3: $39
Total principal paid this month: $994

New household debt totals:
US Mortgage $381,699
Loan from friends (duplex) $9,000
UK Mortgage 1 $31,053
UK Mortgage 2 $6,546
UK Mortgage 3 $6,894
TOTAL DEBT $435,192

January 2019 retirement goal update

February 1st, 2019 at 10:07 pm

Well, now that I'm basing our retirement goal on AS's 2018 income, it just got $50K more ambitious!

Goal: $563,540 by March 2019

Current balance: $434,490 ($129,050 to go)

September 2018 balance: $436,289

Progress: -$1,799

Ordinarily, I only post retirement goal updates when we make positive progress, but since AS's salary calculation underwent a reset, I figured I should post.

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 2018 was $75,940, so $151,880.

To reach the interim goal by the end of our birthday month (March) in 2019, that's 2 months, so we'd need to contribute (or have assets appreciate) $129,050 -- $64,525 per month(!!!) -- to reach it.

So yeah, we're going to fail badly on that there goal. Considering we've made no gains since August, despite dumping thousands and thousands of dollars in our accounts, there's not much more we could have done about that.

Come March, even though we'll be short of that goal, I'm going to set another 5-year goal. Which of course will change any time one of our salaries does.

January 2019 net worth update

February 1st, 2019 at 09:52 pm

NT's UK pensions:
AV: 17,967 pounds ($22,459)
SW: 28,134 pounds ($35,168)
FL: 6,462 pounds ($8,078)
NT's 401(k): $69,771
NT's Roth IRA: $31,272
AS's trad. IRA: $18,946
AS's Roth IRA: $50,746
AS's SEP IRA: $30,489
CJ's 401(k): $131,822
CJ's Roth IRA: $35,739
NT's flat: $212,500 (200,000 pounds value x1.25 -15%)
CJ/NT/AS house: $427,281 ($454,554 value -6%)
TOTAL ASSETS: $1,074,271

US Mortgage $382,438
Loan from friends (duplex) $9,000
UK Mortgage 1 $31,231
UK Mortgage 2 $6,584
UK Mortgage 3 $6,933
TOTAL DEBT $436,186

Current Estimated Net Worth: $638,085

December 2018 estimate: $608,883

Change in net worth: +$29,202

Summary: A lot of our retirement funds recovered, so our net worth is now at its highest yet! Still not at the $650K we were hoping to reach in 2018, and I'm sure we're way behind on our retirement goal (which I'll update shortly if there's been any positive progress), but all things considered, we recovered nicely from the crater of late 2018. I don't take it for granted though; I think there's a lot of volatility ahead.

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.