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Note to self for net worth update

October 16th, 2018 at 04:54 pm

A UK pension statement came in the mail; since I can't check them online it's the only time I get one. The Scottish Widows pension value has increased from 26,544 pounds last year to 28,134 pounds this year. I'll reflect that in our net worth update at the end of the month.

October 2018 debt payments (a little late)

October 4th, 2018 at 01:43 pm

I hate having to wait a day for my US mortgage to hit the actual account, because sometimes I then forget to update my debt totals! But anyway here I am, better late than never.

All our mortgage payments hit:
US Mortgage: $730 to principal
UK Mortgage 1 $179
UK Mortgage 2 $39
UK Mortgage 3 $38

All told, that's $986 to principal this month.

Current debt totals:
US Mortgage $384,641
Loan from friends (duplex) $9,000
UK Mortgage 1 $31,769
UK Mortgage 2 $6,696
UK Mortgage 3 $7,053
---
TOTAL DEBT $439,159

Quick life update

October 3rd, 2018 at 02:29 pm

Wow, I haven't blogged properly for months! Life is just busy, I guess. Some highlights:

- Social life is good. Making/keeping/deepening friendships is a LOT of work, but I'm loving hanging out with folks when I can corral them. Next week I'm going to Wisconsin to see my fave band and my Canadian friend!

- AS's big freelance job is still chugging along; she's invoiced for about $8K of the possible $32K. They pay weekly for however many hours she worked the previous week, which has been GREAT for our shared spending!

- We applied AS's increased income plus NT's third upcoming October paycheck to eliminate the shared spending deficit and begin saving up for renovations once again. We've fallen out of touch with our kitchen designer, but we probably won't nudge her until we've built up the savings to more than they are now.

- Most of the goals I set at the beginning of the year have fallen by the wayside, except learning guitar. I love guitar! I still take lessons weekly and practice almost daily. I can play almost 20 songs, I think.

- Another unexpected project I didn't foresee on Jan. 1 but am still working on is planning a novel with an old college friend who lives in NYC. We're slowly bringing the plot and characters into focus and I hope to have a detailed outline done in time to work on the novel in November. Doing a shared project for NaNoWriMo is an iffy proposition but hopefully there's no harm in trying it this once. I just need to figure out a way to keep working even if my friend gets busy or stuck, so I can get to my 50K words by the end of November!

- Also, it's become something of a habit to see more music live! There were a few years when I really didn't feel inspired by music but I'm getting really into it again. In addition to the October show in Wisconsin, I have tickets to FOUR concerts in November! And I discovered another local act I really like; he's taking a 2-month hiatus from playing live, but I'm looking forward to when he starts playing around again.

- My work just started up the pedometer challenge, which is 4 weeks in October. I know I'll do enough steps to get the $25 gift card; the real challenge is doing enough steps to get one of the $100 weekly prizes. We shall see! I did finally order some new sneakers which I've been meaning to do for months.

- We decided to do a staycation in October instead of going to a lake. Still deciding what fun things to do but we've got $750 set aside for the 5 days, so I'm sure it'll be great! Our next trip as a family will be to the UK, leaving the day after Xmas and coming back in the first week of January.

- Work is good, family is good, everything is trucking along!

September 2018 retirement goal update

October 1st, 2018 at 11:58 am

Goal: $512,564 by March 2019

Current balance: $436,289 ($76,275 to go)

July 2018 balance: $431,075

Progress: $5,214

As a reminder, this is just an incremental goal along the way to 8x income by retirement. This mini-goal aims to get us to a milestone by the time I turn 45 and AS turns 40.

The milestone (which changes whenever our salaries change) is to get me to 3x my current salary, which is now $75,120, so $225,360; NT to 3x his, which is now $62,100, so $186,300; and AS to 2x hers, which in 2017 was $50,452, so $100,904.

To reach the interim goal by the end of our birthday month (March) in 2019, that's 6 months, so we'd need to contribute (or have assets appreciate) $76,275 -- $12,713 per month -- to reach it.

We rarely come close to that, so it's pretty unlikely. But at least we're making progress in the right direction!

September 2018 net worth update

October 1st, 2018 at 11:53 am

Assets:
NT's UK pensions:
AV: 17,967 pounds ($22,459)
SW: 26,544 pounds ($33,180)
FL: 6,462 pounds ($8,078)
NT's 401(k): $70,321
NT's Roth IRA: $30,975
AS's trad. IRA: $19,888
AS's Roth IRA: $51,078
AS's SEP IRA: $27,988
CJ's 401(k): $137,166
CJ's Roth IRA: $35,156
NT's flat: $212,500 (200,000 pounds value x1.25 -15%)
CJ/NT/AS house: $427,281 ($454,554 value -6%)
---
TOTAL ASSETS: $1,076,070

Debts:
US Mortgage $385,371
Loan from friends (duplex) $9,000
UK Mortgage 1 $31,948
UK Mortgage 2 $6,735
UK Mortgage 3 $7,091
---
TOTAL DEBT $440,145

Current Estimated Net Worth: $635,925

August 2018 estimate: $629,727

Change in net worth: +$6,198

Summary: OK gains this month, mainly due to debt payment and retirement contributions, not market growth. My 2018 net worth goal of $650K still seems within the realm of possibility! We would only need to gain about $4700 per month October-December to get there...

Notes on the numbers above: House value estimates are approximate. (I do have my eye on a comparable listing for the UK flat, but it's been on the market a long time.) UK pension values updated about once a year. UK asset values and debt amounts are calculated figuring $1.25 for every British pound.

September 2018 debt payments

September 5th, 2018 at 07:47 am

All our mortgage payments hit (a bit late because of the holiday):
US: $728 to principal
UK1: $178
UK2: $38
UK3: $40

All told, $984 went to principal.

New debt totals:

US Mortgage $385,371
Loan from friends (duplex) $9,000
UK Mortgage 1 $31,948
UK Mortgage 2 $6,735
UK Mortgage 3 $7,091
___
TOTAL DEBT $440,145

August 2018 retirement goal update

August 31st, 2018 at 07:28 am

Goal: $512,564 by March 2019

As a reminder, this is just an incremental goal along the way to 8x income by retirement. This mini-goal aims to get us to a milestone by the time I turn 45 and AS turns 40.

The milestone (which changes whenever our salaries change) is to get me to 3x my current salary, which is now $75,120, so $225,360; NT to 3x his, which is now $62,100, so $186,300; and AS to 2x hers, which in 2017 was $50,452, so $100,904).

Current balance: $431,075

July 2018 balance: $421,009

Progress: $10,066

To reach the interim goal by the end of our birthday month (March) in 2019, that's 7 months, so we'd need to contribute (or have assets appreciate) $81,489 -- $11,641 per month -- to reach it.

We rarely come close to that, so it's pretty unlikely. But at least we're making progress in the right direction!

August 2018 net worth update

August 31st, 2018 at 07:23 am

Assets:
NT's UK pensions:
AV: 17,967 pounds ($22,459)
SW: 26,544 pounds ($33,180)
FL: 6,462 pounds ($8,078)
NT's 401(k): $68,397
NT's Roth IRA: $29,585
AS's trad. IRA: $19,887
AS's Roth IRA: $51,051
AS's SEP IRA: $26,374
CJ's 401(k): $136,923
CJ's Roth IRA: $35,141
NT's flat: $212,500 (200,000 pounds value x1.25 -15%)
CJ/NT/AS house: $427,281 ($454,554 value -6%)
---
TOTAL ASSETS: $1,070,856

Debts:
US Mortgage $386,099
Loan from friends (duplex) $9,000
UK Mortgage 1 $32,126
UK Mortgage 2 $6,773
UK Mortgage 3 $7,131
---
TOTAL DEBT $441,129

Current Estimated Net Worth: $629,727

July 2018 estimate: $618,678

Change in net worth: +$11,049

Summary: Pretty big gains this month, almost as much as last month. My 2018 net worth goal seems a lot more within the realm of possibility!

Notes on the numbers above: House value estimates are approximate. (I do have my eye on a comparable listing for the UK flat, but it's been on the market a long time.) UK pension values updated about once a year. UK asset values and debt amounts are calculated figuring $1.25 for every British pound.

August 2018 debt payments

August 2nd, 2018 at 10:16 am

All our mortgage payments hit:
US: $726 to principal
UK1: $180
UK2: $37
UK3: $40

All told, we paid $983 to principal.

New debt totals:

US Mortgage $386,099
Loan from friends (duplex) $9,000
UK Mortgage 1 $32,126
UK Mortgage 2 $6,773
UK Mortgage 3 $7,131
---
TOTAL DEBT $441,129

Money and other news updates

August 1st, 2018 at 02:33 pm

As always happens recently, I'm going to try and run through a lot of updates all in one post! It makes for very nondescriptive titles but oh well. Smile

- Had a sit-down with the spouses about our shared spending and vacation budgets being so far in the red. I put together projections of what would happen if we stopped funding the reno fund for a while and split AS's net pay 50/50 between the two line items. If we were careful about our spending for the next few months, we should be back in the positive by October, so hopefully then we can start splitting it 3 ways between shared spending, vacations and renovations.

Everyone gave up some things to make this projection work. NT gave up a second trip he was hoping to take. (I was also idly thinking about another trip because my two have/will be very very cheap. But it's highly unlikely I'll get another one this year.) I cut back the amount I was planning to spend on my next solo trip and pledged to shop my closet for my fall wardrobe and avoid buying new clothes if possible. AS cut her sewing-room renovation budget from $1000 to $600.

And we all agreed to skip the State Fair this year; we love going but most of the charm is buying tons of different foods, which combined with admission (and sometimes a second trip with the kids, which involves rides and games) gets very expensive. There's always next year!

- Some other expenses came to light after our discussion, but also AS logged some more hours on her big freelance job that aren't in the projection. I'm going to update my projection every week or so to keep tabs on whether we're likely to hit our goal.

- I just realized that I'll be in four, maybe five different states this month! Tomorrow we leave for Va. (technically we're spending the first and last night in a hotel in Md. but I don't count that). We may do a day or overnight trip to W.Va. while we're there. We get back Wednesday, and that Friday I leave on a road trip with a friend to Iowa to see my fave band. We get back that Sunday, and on Tuesday I fly to Tenn. for a two-night, three-day business trip! Whew!

- Although I haven't made any progress on editing my own novel, I've been busily chatting with my NY friend on our plans to write a new novel together. We're a long way off from starting; we need to agree on the main plot, character and setting before we can start writing a scene-by-scene outline. But we have lots of great ideas so I'm hopeful we can pull it off!

- I've been neglecting most of my goals except guitar, which I practice almost every day and keep making progress on. However, I realize that most of my goals were about reducing stress and increasing mental health, and guitar is doing more for that than I could have imagined, so I'm kind of OK with taking a different direction than my initial goals for the year.

- I do wish I could finish my emergency preparedness kit and schedule us for some first aid/CPR classes, but I need to wait until our spending deficit is under control.

- Things we decided not to cut back on: kids' swim lessons at the pricier (but very effective) new place we've been trying, art class for the 8-year-old, and we're going to start gymnastics lessons for the 6-year-old. We had her on art but it's not really her thing. She's always doing somersaults and flipping off couches, so maybe gymnastics will be a better fit!

- I thought about withdrawing from my alumni board so I could maybe focus my time on other interests, but then I had a couple of fun events that actually went well, and the alumni office has been so grateful for the work I do. So I'm reconsidering and may try to serve out my term (until 2021).

- My second-weekly guitar lessons end next week, which I'm glad of so I can have more of a social life again! When I finish all this traveling, that is. But maybe I can do some planning now to set up some hanging-out time with various people for when I'm back from my three trips. Tonight though I have to focus on packing, since we'll be leaving for the airport as soon as I get home from work and picking one of the kids up from daycare tomorrow.

- We've had some minor illness and injury lately -- AS sprained an ankle, AA had a fever for a couple days, a few other things -- but overall we're in good health. My one complaint is I've been so busy and our kid dropoff routine is so off-kilter that I haven't been walking nearly as much as I had been, and my A.M. strength exercises have fallen off the radar. Got to get those two habits back, because they do wonders for my energy!

I'm sure there's more I've forgotten, but that's more than enough for one post!