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Archive for July, 2023

July 2023 net worth update

July 31st, 2023 at 03:36 pm

It was a month of gains in the retirement accounts even though we didn't manage to contribute anything to them. Between stock market gains and mortgage paydown our net worth went up over $25K!

In terms of CoastFIRE, it's hard to do a calculation since most of our income is now freelance and I'm not sure when or how much I'll be able to contribute. My freelance business is slowly building at this point so I'm not at a point where I have anything left over after bills, but I hope to get to a good place in another month or two.

So I plugged in some random numbers. If we put in $500 per month we would not reach our retirement goal. If we contributed $1000 per month, we'd reach Coast FIRE in 9 years when I was 58. If we put in $2250 per month, which is what I hope to get to in a few months, we'd be at Coast FIRE in 4 years, or age 53.

It's hard to predict when my freelance will bring in enough for that, but it's good to see the different benchmarks, very motivating to get to that point! (Although on the flip side, if we can manage to keep our work scaled back from the 40-hour work week, we're basically achieving the lifestyle I hoped to get out of reaching Coast FIRE!)

NT's UK pensions:      
AV1: 25,760 pounds (new number 22,000) $32,200    
SW: 31,522 pounds $39,403    
AV2: 7,401 pounds $9,251    
NT's trad. rollover IRA $110,849    
NT's Roth IRA $73,152    
NT's SEP IRA $6,283    
AS's trad. rollover IRA $27,795    
AS's Roth IRA $102,247    
AS's SEP IRA $74,509    
CJ's trad. rollover IRA $242,191    
CJ's Roth IRA $79,065    
CJ/NT/AS house ($630,000 value -6%) $592,200    
CJ/NT/AS rental property ($554,000 value -6%) $520,760    
TOTAL ASSETS $1,909,905 retirement only: $796,945
Main mortgage $346,584    
Rental property mortgage $387,483    
HELOC $33,000    
Appliances CC $778    
Loan from friends (main house) $9,000    
TOTAL DEBT $776,845    
Current Estimated Net Worth July 2023 $1,133,060    
June 2023 estimate: $1,107,245    
Change in net worth $25,815