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Archive for September, 2021

August 2021 retirement goal update

September 3rd, 2021 at 07:47 pm

Well, our goal just went way up because of a rise in income! Which means we're way behind, but for a good reason. (I also decided to round off salaries while I was at it so our goal could be a nice round number too!)

New goal: $922,000 by March 2024

Current retirement balance: $779,114

May 2021 balance: $732,687

Progress since last update: $46,427

Still needed: $142,886

This interim goal is based on getting my and NT's retirement to 4x my current and his last full-time salary (approximately $84,000 and $64,000) by the time we turn 50, and AS's retirement values to 3x her current salary ($110,000) by the time she turns 45.
$84,000 x 4 = $336,000
$64,000 x 4 = $256,000
$110,000 x 3 = $330,000

It will shift anytime our salary/annual income changes. (The only exception is I won't lower if there's a lower-income year.)

There are 31 months to go before March 2024, so that means we need to gain $4609 per month on average to meet our goal.

The ultimate goal we're working toward is 8x our annual income by the time we retire at 65.


Coast FIRE Goal

I've also started using this Coast FIRE calculator ( and according to it,  our retirement goal is $2.1 million by the time I'm 65 (18 years). It says we're currently 10 years from our Coast FIRE number of $1.5 million!

Here are the Coast FIRE parameters I use:

Ideal budget Monthly
Housing $0
Healthcare $1,500
Groceries $1,000
Fun $1,500
Travel $1,000
Utilities $500
Giving $500
Home improvement $500
Gifts $250
Transportation $250
Total monthly $7,000
Annual $84,000


I'm in between my spouses' age, so I used my age but our combined retirement investments.

Current age: 47

Retirement age: 65

Annual spending in retirement: $84,000

Monthly contribution: $2,700

Investment growth rate: 7%

Inflation rate: 3%

Withdrawal rate: 4%

August 2021 net worth update

September 3rd, 2021 at 07:30 pm

NT's UK pensions:
AV1: 22,397 pounds ($27,996)
SW: 27,225 pounds ($34,031)
AV2: 7,567 pounds ($9,459)
NT's trad. rollover IRA: $115,452
NT's Roth IRA: $71,485
NT's SEP/SIMPLE: $1,291
AS's trad. rollover IRA: $29,021
AS's Roth IRA: $99,716
AS's SEP IRA: $76,485
CJ's 401(k): $238,074
CJ's Roth IRA: $76,104
NT's flat: $212,500 (200,000 pounds value x1.25 -15%)
CJ/NT/AS house: $592,200 ($630,000 value -6%)
TOTAL ASSETS: $1,583,814

US Mortgage $365,279
Loan from friends (duplex) $9,000
UK Mortgage 1 $25,233
UK Mortgage 2 $5,319
UK Mortgage 3 $5,601
TOTAL DEBT $410,432

Current Estimated Net Worth: $1,173,382

June 2021 estimate: $1,138,177

Change in net worth: +$35,205

Summary: Good healthy rise in value over two months, mainly due to retirement contributions & gains!

Notes on the numbers above: House value estimates are usually approximate. UK pension values updated about once a year. UK asset values and debt amounts are calculated figuring $1.25 for every British pound (just to have a system, even though I checked the exchange rate and it's more like 1 to $1.38).