Net Worth Update – August 2023

August officially ends my net worth increase streak at five months, so it’s certainly starting to feel that 2023 is going to be more of a see-saw when it comes to the market, and not a year of any sustained growth. I came pretty close to hitting my $550,000 total stretch goal last month, so we’ll see if it’s possible the rest of the year. I’ll keep stashing away cash into my investment accounts and hope the market can make it happen this year.

August Liquid Net Worth:

I was basically flat when it comes to my cash accounts this month, but the market finally started a down turn and that caused an overall negative month for August.

August Total Net Worth:

Disappointing to see this decrease after so many months of growth, but I always have to remind myself that the goal is long term growth, not just short term gains.

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.

$3958 average spending last 12 Months * 12 Months = $47,496 spending in a year

$364,135 net worth / $47,496 spending per year = 7.7 years’ worth of spending

Photo by Nicolas Häns on Unsplash

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