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Home > Archive: October, 2024
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Archive for October, 2024
November 1st, 2024 at 03:24 am
Not a great month for the markets, so our net worth fell by more than $16K (and our retirement account value by more than that; the total drop was offset by paying off a couple grand on our mortgages). But, the good news is we're still about $35K above our CoastFIRE number, so we're still on track!
Not much else to report financially since last month. I'm gearing up to do a big year-end review of our spending; I kept more detailed records of where we overspent (and a scant few places we underspent ha) so I can make a more realistic budget for 2025. This'll be a good learning-curve year for us, as AS and I will have completed our first full year of owning a business together. Overall it's been pretty good but hopefully we can do better next year now that we have more experience and more clients in our roster.
| 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 |
$129,818 |
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| NT's Roth IRA |
$86,696 |
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| NT's SEP IRA |
$7,409 |
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| NT's AAC acct |
$6,453 |
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| AS's trad. rollover IRA |
$32,475 |
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| AS's Roth IRA |
$121,560 |
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| AS's SEP IRA |
$87,306 |
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| AS's Nevada acct (approx amt) |
$380 |
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| CJ's trad. rollover IRA |
$279,181 |
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| CJ's Roth IRA |
$93,625 |
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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 |
$2,094,889 |
retirement only: |
$927,409 |
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| Debt |
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| Main mortgage |
$333,159 |
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| Rental property mortgage |
$378,162 |
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| Loan from friends (main house) |
$9,000 |
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| TOTAL DEBT |
$720,321 |
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| Current Estimated Net Worth October 2024 |
$1,374,568 |
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| September 2024 estimate: |
$1,391,289 |
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| Change in net worth |
-$16,721 |
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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 |
$927,409 |
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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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| Coast FIRE budget |
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| Ideal budget |
Monthly |
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| Housing |
$0 |
(rent covering prop expenses) |
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| Healthcare |
$1,500 |
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| Groceries |
$1,000 |
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| Fun |
$1,500 |
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| Travel |
$1,000 |
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| Utilities |
$500 |
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| Giving |
$500 |
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| Home improvement |
$500 |
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| Gifts |
$250 |
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| Transportation |
$250 |
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| Monthly |
$7,000 |
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| Minus add'l rental income |
-$1,700 |
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| Total monthly |
$5,300 |
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| Annual |
$63,600 |
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| SSN estimates 2024 |
Start age 62 |
Start age 70 |
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| Monthly benefit |
$4,200 |
$7,200 |
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| Plus monthly from retirement |
$5,300 |
$5,300 |
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| Total monthly |
$9,500 |
$12,500 |
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Posted in
Tracking Net Worth
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