This is my retirement estimate for June 2021, based on all income and expenses until the end of May 2021. As I had written in a previous post, I’m only going to be doing these updates twice a year now, in June and December. There aren’t many fluctuations in my retirement numbers on a month-to-month basis, so I think this will show actual progress better. I’ll still be tracking the numbers on a monthly basis as well, so you’ll still get to see that data. Another update that I made, and was actually supposed to happen in January was to update the total amount needed to retire in the simple calculation. It was based on outdated spending numbers so I’ve bumped that up to be more realistic numbers and better match the other two estimates.
A reminder of the three ways I will track my progress:
- The first way will actually be with a simple Excel calculator that I made. I’ll plug in my monthly expenses, savings rate, and net worth. And the calculator will say just how long I have until retirement. Maybe it will say that I can retire tomorrow?
- The second way I’ll calculate this is through an equation and the help of Wolfram Alpha.
- The third and final way I’ll be calculating my early retirement date is with the help of the Mad Fientist Laboratory. I’ll input expenses, savings, and net worth and let his calculations do the rest of the work.
Retirement estimation based on 4% market growth:
Retirement estimation based on 7% market growth:
You can see the effect of the simple calculation estimation with these two estimations being bumped back slightly, but I’d rather they be pessimistic and correct than overly optimistic.
Retirement estimation if I never save another dollar:
This number has bounced back up due to me changing the required amount needed in retirement. The important part is that I’m still gaining over June 2020 though, even with that change!