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Archive for December, 2023

December 2023 & year-end net worth update

January 1st, 2024 at 01:37 am

What. A. Year. It was rough net-worth-wise until nearly the end, but the last two months of market gains and some debt paydown helped us end on a good note. Better place than we were at the end of 2022 but not as good as where our net worth was at the end of 2021 (our assets are higher but so is our debt compared with 2 years ago).

Snapshot of the past two years:

Dec 2021 assets: $1,579,801 ; Dec 2022 assets: $1,801,176 ; Dec 2023 assets: $1,939,211
Dec 2021 debt: $370,966; Dec 2022 debt: $791,694 ; Dec 2023 debt: $765,599
Dec 2021 net worth: $1,208,835; Dec 2022 net worth: $1,009,482 ; Dec 2023 net worth: $1,173,612

Since I haven't been blogging as regularly, I can't as easily sum up the whole year's financial activity. But the big things were: I got laid off in June, started my own business with AS, NT increased his hours at his job but we're still working to build to an income where we can comfortably afford the lifestyle we'd like and figure out how much we need to gross so it's enough after taxes.

One bright spot: I just did our CoastFIRE calculation and things are looking good. We don't have a regular cadence of retirement contributions anymore, but I ran a few different scenarios and $150 contribution per month would get us to where we need to be by 65 (16 years), and $2K per month would get us to CoastFIRE in one year! So whatever we manage to contribute this year as we build our business should help a lot, assuming the market doesn't crater again.

December net worth update:

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 $114,993    
NT's Roth IRA $76,737    
NT's SEP IRA $6,518    
AS's trad. rollover IRA $28,829    
AS's Roth IRA $106,930    
AS's SEP IRA $77,277    
CJ's trad. rollover IRA $251,243    
CJ's Roth IRA $82,870    
CJ/NT/AS house ($630,000 value -6%) $592,200    
CJ/NT/AS rental property ($554,000 value -6%) $520,760    
TOTAL ASSETS $1,939,211 retirement only: $826,251
Main mortgage $342,172    
Rental property mortgage $384,427    
HELOC $30,000    
Loan from friends (main house) $9,000    
TOTAL DEBT $765,599    
Current Estimated Net Worth December 2023 $1,173,612    
November 2023 estimate: $1,134,569    
Change in net worth $39,043