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End of year net worth and other updates

January 1st, 2023 at 08:24 pm

Hi everyone! It's been about four months since my last update. Financially not much has changed; we paid down some debt and lost some more value in our retirement accounts, so we gained $1,900 in net worth over 4 months.

Lifewise, AS is doing a LOT better mentally after quitting her high-stress job and has restarted her freelance business. It takes a bit to build future work so income has been slow to come this year, but she's got tons of work booked for the first part of 2023 so things will be looking up soon. NT got a part-time office job and likes it, so that's some steady income in addition to the rental property he's managing and the bits of money from other side hustles. The kiddos are getting great grades and doing well.

I've had a lot of ups and downs myself. My job and creative pursuits are going well. But my mom went into the hospital in late November and died on Dec. 1. I was able to travel to Virginia a couple days before; she was barely aware of her surroundings but I'm glad I could help my dad and my sisters. It was really really awful and hard. We buried her the next week in West Virginia on our family property and had a beautiful ceremony. I wish she could've been there for that part instead of the days of suffering in the hospital! I feel like I'm doing okay most of the time, but it's only been a month so the grief is still fresh when it hits me at unexpected times.

Anyway, it's been a real mixed bag of a year. Financially, we didn't get much farther on paying down the tax bill or the remainder of what we borrowed for the kitchen, and we haven't built up the EF yet. Coast FIRE is way, way off track since we haven't been able to put much to retirement for the past 6 months or so. But, in good news, I'm restarting our monthly Roth contributions, 50% of the max so $750 per month. If AS's freelance income is good I'll fill in with more contributions, but I also have to think about paying down the tax/kitchen debt, which is currently at about $39K, and rebuilding our EF, ideally to $20K. We also have to fix an electrical issue at the rental property that will be a few thousand. So we shall see.

I'll put our detailed current net worth and Coast FIRE calcluations below, but here's a snapshot of how things changed in 12 months:

December 2021 assets: $1,579,801 ; December 2022 assets: $1,801,176

December 2021 debt: $370,966; December 2022 debt: $791,694

December 2021 net worth: $1,208,835; December 2022 net worth: $1,009,482



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 $96,417
NT's Roth IRA $62,307
NT's SEP IRA $3,358
AS's trad. rollover IRA $24,231
AS's Roth IRA $87,073
AS's SEP IRA $64,675
CJ's 401(k) $211,230
CJ's Roth IRA $67,439
CJ/NT/AS house ($630,000 value -6%) $592,200
CJ/NT/AS rental property ($554,000 value -6%) $520,760
TOTAL ASSETS $1,801,176
Main mortgage $352,659
Rental property mortgage $391,083
HELOC $35,500
Appliances CC $3,452
Loan from friends (main house) $9,000
TOTAL DEBT $791,694
Current Estimated Net Worth December 2022 $1,009,482
August 2022 estimate: $1,007,582
Change in net worth +$1,900



I use this Coast FIRE calculator ( and according to it,  our retirement goal is $1.65 million by the time I'm 65 (17 years). It says we're currently 12 years (I'd be age 60) from our Coast FIRE number of $1.356 million. (That's with our 50% Roth contributions and my 401(k), which are the only two savings baked into our budget at this point.)

Here are the Coast FIRE parameters I use:

Ideal budget      Monthly

Housing            $0        (rents covering prop expenses)

Healthcare        $1,500

Groceries         $1,000

Fun      $1,500

Travel  $1,000

Utilities $500   

Giving  $500   

Home improvement       $500   

Gifts     $250   

Transportation  $250   

Monthly $7,000

Minus rental income      -$1,500

Total monthly    $5,500

Annual  $66,000          


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

Current age: 48

Retirement age: 65

Annual spending in retirement: $66,000

Monthly contribution: $1,451

Investment growth rate: 7%

Inflation rate: 3%

Withdrawal rate: 4%

Current invested assets: $688,216

Coast FIRE number at current age: $847,066




4 Responses to “End of year net worth and other updates”

  1. Dido Says:

    I'm so sorry for your loss.

  2. VS_ozgirl Says:

    Very sorry for your loss Ceejay. Sending you hugs and much sympathy.

  3. Wink Says:

    I'm so sorry for your loss Ceejay.

  4. FrugalTexan75 Says:

    I'm so sorry to hear about your mom.

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