Home > April 2023 net worth update

April 2023 net worth update

April 30th, 2023 at 07:30 pm

Pretty good gain in retirement, about $10K this month. Coast FIRE now showing as 10 years away vs. 11 last month!

It's a very interesting and weird time for us financially. I wish I had time to blog here more frequently about it, but I've got so many things going on that I never get around to it! Let's see if I can sum up...

- Both units of our separate rental property are going vacant May 1. We think we have a renter lined up for June or July for one side; the other side's had some interest but none of it has come to anything. This means about a $5500 per month budget deficit.

- We're netting around $3500 on tax refunds and have $2K in the EF, so we can just cover the one month without borrowing. If both units aren't filled June 1, we may have to dip into our LOC.

- AS has freelance work lined up over the next several months, about $25K through September. Most of it won't start paying until June, but we know it's coming so may be able to help the budget shortfall (or at least help us pay down what we take from the LOC).

- I got a 3% raise, which honestly feels like a joke even as a cost-of-living raise since our expenses have gone up more like 20%-40% over the past year (utilities and groceries especially), but it's better than nothing. Netting about $150 per month more.

- AS is having some verrrry interesting talks with a guy she met through her publishing job; it's still too early to say anything definitive but she may have an exciting and lucrative job in a few months. It'll take a while for it to take shape and we're not sure when it'll materialize or what it'll mean financially, but it's super promising.

Long story short, our finances are feeling shaky and sketchy right now, but we're feeling pretty good about them turning around a bit (or maybe a lot) by the end of the year. Which is good since we still owe quite a bit on the tax bill and kitchen reno because of inflation and these income headwinds!

NT's UK pensions:      
AV1: 25,760 pounds $32,200    
SW: 31,522 pounds $39,403    
AV2: 7,401 pounds $9,251    
NT's trad. rollover IRA $103,807    
NT's Roth IRA $68,171    
NT's SEP IRA $3,625    
AS's trad. rollover IRA $26,068    
AS's Roth IRA $95,015    
AS's SEP IRA $69,691    
CJ's 401(k) $224,407    
CJ's Roth IRA $73,702    
CJ/NT/AS house ($630,000 value -6%) $592,200    
CJ/NT/AS rental property ($554,000 value -6%) $520,760    
TOTAL ASSETS $1,858,300 retirement only: $745,340
Main mortgage $349,202    
Rental property mortgage $389,292    
HELOC $33,000    
Appliances CC $2,992    
Loan from friends (main house) $9,000    
TOTAL DEBT $783,486    
Current Estimated Net Worth March 2023 $1,074,814    
March 2023 estimate: $1,063,843    
Change in net worth $10,971    
retirement goal $1.65 million by 2039 (CJ age 65)    
Current age: 49      
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: $745,340      
Coast FIRE number at current age: $880,948      
Current status: 10 years from Coast FIRE number: $1.304 million    
Coast FIRE budget      
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      


1 Responses to “April 2023 net worth update”

  1. rob62521 Says:

    Good deal on Coast Fire showing 10 years instead of 11 from last month.

    You aren't a kidding about the 3% raise seeming to be so tiny compared to the inflation rate. It is frustrating, just when you think you are getting ahead, prices continue to rise.

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