This past month has been a solid month all around. The credit card bills finally caught up to the income so my cash accounts were basically flat. The market has also been on a complete tear that doesn’t seem to be slowing down anytime soon, so I’ll take that for now. It’s now two months in a row with a large positive net income which is a nice trend to close out the year with.
December Liquid Net Worth:
Another huge increase this month as I wrote earlier, and positives all across the board except for the minimal decrease in cash accounts.
December Total Net Worth:
I end the year less than $200 away from my stretch goal of $550,000 which seemed nearly impossible a few months ago. Back in July it did feel like it was going to be an easy goal, but in October it really went the complete opposite way. I’m just sticking to my savings goals and allowing the market to take me where it’s going to go, as that is all I can control.
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.
$4054 average spending last 12 Months * 12 Months = $48,648 spending in a year
$382,989 net worth / $48,648 spending per year = 7.9 years’ worth of spending
Photo by Marek Piwnicki on Unsplash
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