Tuesday, July 25, 2017

July 2017

Mar-2017
Apr-2017
May-2017
Jun-2017
Jul-2017
Assets
Retirement
387,058.50
391,316.72
401,553.35
409,040.69
414,399.51
529college
15,188.09
15,378.18
15,828.00
16,274.92
16,504.62
Bank Accounts
47,770.74
44,260.80
46,171.82
52,334.20
43,598.18
Investments
12,452.12
13,378.60
14,213.26
15,172.88
13,691.78
Bonds
12,114.12
12,115.86
12,117.44
12,119.02
12,121.30
House
300,000.00
300,000.00
300,000.00
300,000.00
300,000.00
Total Assets
774,583.57
776,450.16
789,883.87
804,941.71
800,315.39
Liabilities
284,312.59
283,333.97
282,305.84
280,574.02
278,831.28
Net
490,270.98
493,116.19
507,578.03
524,367.69
521,484.11
Change
14,974.27
2,845.21
14,461.84
16,789.66
-2,883.58


A few things happened this month that brought down our net worth month-over-month, for the first time since we starting tracking on this blog. We're glad that it happened as the previous 5 months had spectacular results, which could have led to the (wrong) belief that it is smooth sailing all the time.

The "Bank Accounts" was the bucket that took the heaviest hit due a couple major expenses, and the "Investments" bucket had another significant outflow - all of which were anticipated and accounted for. 

The first was M's tuition payment for the summer semester, which was $4,174. 

The second was payment of $2,200 for a hardscaping project for which we've been specifically saving for a year. There will be more spending on associated landscaping/hardscaping projects in the summer months.

The third was a payment of $1,578 to a clinic where W had undergone a procedure a couple of months back. This money came out of our HSA, which is part of our Investments bucket.

What is a good sign is that our Retirement bucket had significant inflow (which is not broken down in the chart above as we give the "final" number which is comprised of the gains and the contributions). Our debts also continue to go down.

Thursday, July 20, 2017

Expected future expenses in FIRE

We had mentioned in this post that our future annual expenses when we enter the FIRE phase would be $48,000. This is the breakdown of the the monthly expenses (rolled over into annual, rolled over to our final saved amount).


Most of categories and sub-categories are self explanatory, I think.

A note about the Flight Savings. We want to take a nice long vacation each year. The cost of flights is the highest component in a vacation. You can also rename this category in your mind as "Vacation Savings".

"Miscellaneous" under Discretionary Spending covers clothes shopping, entertainment, impulse buys.

As you'll notice, I had to include an "Others (buffer)" category to make it close to the annual $48K we were predicting! This tells me we will be revisiting our total saved amount in the future.

After publishing this, we realize that we need to have a post about our current expenses, to give a true comparison of which spending buckets will be eliminated or curtailed.

Thursday, June 29, 2017

June 2017

Feb-2017
Mar-2017
Apr-2017
May-2017
Jun-2017
Assets
Retirement
378,531.17
387,058.50
391,316.72
401,553.35
409,040.69
529college
14,746.21
15,188.09
15,378.18
15,828.00
16,274.92
Bank Accounts
42,856.20
47,770.74
44,260.80
46,171.82
52,334.20
Investments
12,755.09
12,452.12
13,378.60
14,213.26
15,172.88
Bonds
12,091.76
12,114.12
12,115.86
12,117.44
12,119.02
House
300,000.00
300,000.00
300,000.00
300,000.00
300,000.00
Total Assets
760,980.43
774,583.57
776,450.16
789,883.87
804,941.71
Liabilities
285,683.72
284,312.59
283,333.97
282,305.84
280,574.02
Net
475,296.71
490,270.98
493,116.19
507,578.03
524,367.69
Change
17,156.18
14,974.27
2,845.21
14,461.84
16,789.66

Wednesday, May 31, 2017

May 2017


Jan-2017
Feb-2017
Mar-2017
Apr-2017
May-2017
Assets
Retirement
359,774.81
378,531.17
387,058.50
391,316.72
401,553.35
529college
14,317.25
14,746.21
15,188.09
15,378.18
15,828.00
Bank Accounts
47,050.67
42,856.20
47,770.74
44,260.80
46,171.82
Investments
12,282.92
12,755.09
12,452.12
13,378.60
14,213.26
Bonds
11,888.20
12,091.76
12,114.12
12,115.86
12,117.44
House
300,000.00
300,000.00
300,000.00
300,000.00
300,000.00
Total Assets
745,313.85
760,980.43
774,583.57
776,450.16
789,883.87
Liabilities
287,173.32
285,683.72
284,312.59
283,333.97
282,305.84
Net
458,140.53
475,296.71
490,270.98
493,116.19
507,578.03
Change
17,156.18
14,974.27
2,845.21
14,461.84

A milestone: our Net Worth is over half a million now!

Also read, what constitute our Assets and Liabilities bucket.

Tuesday, April 25, 2017

April 2017


Jan-2017
Feb-2017
Mar-2017
Apr-2017
Assets
Retirement
359,774.81
378,531.17
387,058.50
391,316.72
529college
14,317.25
14,746.21
15,188.09
15,378.18
Bank Accounts
47,050.67
42,856.20
47,770.74
44,260.80
Investments
12,282.92
12,755.09
12,452.12
13,378.60
Bonds
11,888.20
12,091.76
12,114.12
12,115.86
House
300,000.00
300,000.00
300,000.00
300,000.00
Total Assets
745,313.85
760,980.43
774,583.57
776,450.16
Liabilities
287,173.32
285,683.72
284,312.59
283,333.97
Net
458,140.53
475,296.71
490,270.98
493,116.19
Change
17,156.18
14,974.27
2,845.21


Few points about this month:
- We had a hefty tax bill, largely in part due to the sale of our old place last year, which had been a rental since 2014. We were anticipating this.
- After substantial inflows into retirement accounts in February and March - a combination of bonuses, raises, and topping of Roth IRA for last year - April's inflow should be norm for rest of the year. 
- Also keep in mind that these numbers are a snapshot of a particular day; we report the current balance on the account.