April was another great month for me, as I was able to build on my cash accounts again with low spending. The market is also continuing it’s run in the positive direction, so I’ve been able to hit several new milestones as well.
April Liquid Net Worth:
For the first time I now have a single account with a value over $100,000 and it’s my 401k. It’s another great month for me overall and one of the biggest gains in a single month.
April Total Net Worth:
I’ve already hit my goal of $500,000 just a few months into the year. There’s actually a really good chance I’ll be able to hit my stretch goal of $550,000 with my current savings rate even if the market and my home value stay mostly steady.
So let’s see how far my assets would take me at this point. I will calculate that using my average spending over the last 12 months. I’ll multiply that result by 12 months to get the total spending for the year, and then divide my liquid net worth by that amount. That’s how long I’d be able to live off my savings at that point in time.
$3804 average spending last 12 Months * 12 Months = $45,648 spending in a year
$342,696 net worth / $45,648 spending per year = 7.5 years’ worth of spending