Here is my retirement estimate for May 2019, based on April’s net worth progress. It was another record net worth at $157,000 and spending was mostly flat compared to April. I don’t think I will see anything drastic here, but the flat average in spending might cause the numbers to actually increase. We will see if I can get the average under 16 years with 4% growth by the end of the year.
A reminder of the three ways I will tracking my progress:
- The first way will actually be with a simple excel calculator that I made. I’ll plug in my current 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 be calculating 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 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:
It’s a little surprising to see the average retirement years tick up a bit, but I think holding my average spending up at that higher number is what caused it. I think it will take some big savings and net worth increases to drive those numbers down, especially ever since I corrected the formula in November 2018 to be more accurate with my actual spending.
Retirement estimation if I never save another dollar:
Bump up here as well, but nothing too big. I’m still at 35 years left on average which isn’t bad at all when it’s assuming I will never save another dollar towards retirement.