July 31st, 2024 at 06:01 pm
We had a modest month of retirement fund growth and are still on track with CoastFIRE! I also had a mini-revelation a few weeks ago that we may be a lot more set than I realized. I haven't factored Social Security benefits at all into my calculations; I'm a bit of a pessimist when it comes to thinking about whether it'll still be a thing when I'm of age. But I checked our benefits out of curiosity and saw that the combined benefit of our three accounts could be $4,200 if we start drawing down at age 62 and $7,200 if we start at age 70. Our estimated required monthly funds in retirement are $5,500. I had been a bit worried that I was estimating our needs too low, but now I'm much less worried because chances are we'll receive at least partial Social Security, so I think we should be good!
Assets |
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NT's UK pensions: |
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AV1: 26,511 pounds |
$33,139 |
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SW: 31,522 pounds |
$39,403 |
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AV2: 7,971 pounds |
$9,964 |
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NT's trad. rollover IRA |
$125,665 |
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NT's Roth IRA |
$83,933 |
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NT's SEP IRA |
$7,161 |
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NT's AAC acct |
$4,843 |
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AS's trad. rollover IRA |
$31,455 |
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AS's Roth IRA |
$117,493 |
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AS's SEP IRA |
$84,523 |
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AS's Nevada acct (approx amt) |
$380 |
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CJ's trad. rollover IRA |
$271,231 |
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CJ's Roth IRA |
$90,641 |
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CJ/NT/AS house ($643,000 value -6%) |
$604,420 |
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CJ/NT/AS rental property ($599,000 value -6%) |
$563,060 |
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TOTAL ASSETS |
$2,067,311 |
retirement only: |
$899,831 |
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Debt |
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Main mortgage |
$335,890 |
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Rental property mortgage |
$380,063 |
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Loan from friends (main house) |
$9,000 |
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TOTAL DEBT |
$724,953 |
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Current Estimated Net Worth July 2024 |
$1,342,358 |
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June 2024 estimate: |
$1,331,320 |
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Change in net worth |
$11,038 |
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COAST FIRE: |
https://walletburst.com/tools/coast-fire-calc/ |
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retirement goal |
$1.59 million by 2039 (CJ age 65) |
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Current age: 50 |
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Retirement age: 65 |
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Annual spending in retirement: $63,600 |
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Monthly contribution: $250 |
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Investment growth rate: 7% |
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Inflation rate: 3% |
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Withdrawal rate: 4% |
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Current invested assets |
$899,831 |
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Coast FIRE number at current age |
$882,871 |
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Current status: at Coast FIRE |
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Posted in
Tracking Net Worth
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