After seeing September’s net worth update, there isn’t too much progress to update you on when it comes to tracking early retirement. Numbers were essentially flat and they don’t look to be changing much this month either with the poor stock market performance. It could also be that I’m finally tracking in on my accurate retirement number at my current savings and net worth amount. If the decline starts to become steadier or stagnant across the months, then I’ll know that things are changing.
Welcome to Fall, even if it is increasingly just becoming an extension of Summer at this point. September was a decent month financially, spending was fairly average and I continue to save at the same pace. I had some larger credit card bills leftover from August, so there was a decrease in my checking account. There was also the fact that the market has been relatively flat to down this entire month, erasing most of the gains I was seeing during the Summer months.
Time for my newest update when it comes to tracking my early retirement, and things are looking good after the August net worth update. I actually expected more positive news when doing this, but it looks like things ended up remaining relatively flat compared to the net worth trend. I’m thinking this is probably just because of the increase in spending over the past few months, and it will flatten out in the coming months. I will continue to just focus on what I can control, which is continuing to save and keeping my expenses down wherever possible.
I am working on the climb towards $150,000 by the end of the year, and this month solidified my progress towards that goal. I was able to post gains pretty much across the board, and that was with a lot of travel expenses! I think the peak of my spending has already occurred as well, so it probably comes down to more of what the market is doing on whether or not I am able to hit my goal.With my current savings rate, I’ll probably fall just short of that goal – so there will need to be some sort of boost from the market if I’m going to make it there.
As opposed to last month when I went to do this analysis, I was super excited to see where things were going in August. I dropped my average expenses down in July, and my net worth was back on the way up and definitely trending in the right direction. The results from this report turned out to be true, with August estimates dropping across the board. Every single date is closer than it was last month and all previous months! Continue reading