<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > January 2025 net worth update

January 2025 net worth update

January 31st, 2025 at 10:11 pm

Our retirement regained about what it lost last month, so a good month. We're still at CoastFIRE with an $86K surplus. Since I have our calculations assuming me retiring at 65, so for fun I played with how many years I could shave off that. According to the calculator I could retire at 63 and still be at Coast right now!

Assets      
NT's UK pensions:      
AV1: 26,511 pounds $33,139    
SW: 37,117 pounds $46,396    
AV2: 7,971 pounds $9,964    
NT's trad. rollover IRA $135,105    
NT's Roth IRA $90,270    
NT's SEP IRA $7,733    
NT's AAC acct $8,256    
AS's trad. rollover IRA $33,777    
AS's Roth IRA $126,863    
AS's SEP IRA $90,905    
AS's Nevada acct (approx amt) $380    
CJ's trad. rollover IRA $288,575    
CJ's Roth IRA $97,485    
CJ/NT/AS house ($643,000 value -6%) $604,420    
CJ/NT/AS rental property ($599,000 value -6%) $563,060    
TOTAL ASSETS $2,136,328 retirement only: $968,848
       
Debt      
Main mortgage $330,406    
Rental property mortgage $376,241    
Loan from friends (main house) $9,000    
TOTAL DEBT $715,647    
       
Current Estimated Net Worth December 2024 $1,420,681    
       
December 2024 estimate: $1,392,651    
       
Change in net worth $28,030    
       
       
COAST FIRE: https://walletburst.com/tools/coast-fire-calc/    
retirement goal $1.59 million by 2039 (CJ age 65)    
       
Current age: 50      
Retirement age: 65      
Annual spending in retirement: $63,600      
Monthly contribution: $250      
Investment growth rate: 7%      
Inflation rate: 3%      
Withdrawal rate: 4%      
Current invested assets $968,848    
Coast FIRE number at current age $882,871    
Current status: at Coast FIRE with surplus: $85,977    
       
       
Coast FIRE budget      
Ideal budget Monthly    
Housing $0 (rent will cover 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 add'l rental income -$1,700    
Total monthly $5,300    
Annual $63,600    
       
SSN estimates 2024 Start age 62 Start age 70  
Monthly benefit $4,200 $7,200  
Plus monthly from retirement $5,300 $5,300  
Total monthly $9,500 $12,500  

Posted in Tracking Net Worth | 7 Comments »

7 Responses to “January 2025 net worth update”

  1. rob62521 Says:
    February 1st, 2025 at 06:28 pm 1738434490
    1738434490

    That's great that you could retire at 63 if you wanted. Isn't data wonderful?

  2. Tabs Says:
    February 1st, 2025 at 06:40 pm 1738435203
    1738435203

    Nice work with such a big surplus.

  3. Petunia100 Says:
    February 3rd, 2025 at 08:24 pm 1738614278
    1738614278

    Congrats on reaching coast FIRE! So, will you coast? Or are you planning to "keep the pedal to the metal"?

  4. ceejay74 Says:
    February 3rd, 2025 at 09:14 pm 1738617257
    1738617257

    Thanks guys! Petunia, we've essentially been coasting since summer 2023, when I was laid off and stopped contributing to my 401k. We'd already paused our Roth contributions because of a big tax bill and other circumstances, and NT hadn't contributed to a 401k since he'd been laid off during the pandemic lockdown.

    Now, NT contributes a nominal amount to his 401k at his part time job, but that's all we're putting away. I did mean to restart Roth contributions when we were able, until the Coast calculator told me we didn't need to!

    I'll keep checking every month of course to make sure we're still on track.

  5. LivingAlmostLarge Says:
    February 6th, 2025 at 02:00 am 1738807219
    1738807219

    Have you really not been contributing to retirement? Do you think you will work as long? Or what if you don't want to work and retire early? Does it make sense to continue to save for flexiblity? Maybe retiring earlier? Or do you need the income now?

  6. ceejay74 Says:
    February 6th, 2025 at 02:09 am 1738807749
    1738807749

    We took a big income hit because of our layoffs and starting our own business, so yeah, contributing $2K per month like we used to would be a massive lifestyle change. And this is kind of the point of CoastFIRE; once you hit it, you just cover your expenses. AS and I could be hustling hard to make more $$ or we could be cutting our lifestyle to the bone, but honestly it's not a very outlandish lifestyle. I prefer to live by the spirit of CoastFIRE and find some work/life balance and enjoyment now vs continuing to grind hard until infinity.

  7. ceejay74 Says:
    February 6th, 2025 at 02:13 am 1738808020
    1738808020

    Also, I don't know if this is clear in my big confusing spreadsheet, but I don't at all factor Social Security into our CoastFIRE calculator. I realize the govt is getting gutted and sold for parts right now, but if even a small amount of Social Security benefits remain when it's all over, that's above and beyond what I've included in our retirement calculations. So that's an extra bit of security that makes me feel OK about trusting CoastFIRE.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]