The streak now continues at five straight months of net worth increases. Spending was down this month and the market was up, so a great combination of things to bring up my net worth. I’m continuing to transfer more money from my checking to a high yield savings account, so you will be seeing some more of those type of transactions as time goes on.
July Liquid Net Worth:
A huge increase this month, and I was even able to reverse the trend on my cash accounts and send them in a positive direction. Pair that with the big market increase and you have an awesome month for my net worth.
July Total Net Worth:
Over $15,000 increase for the month which will make this one of my biggest net worth increase months.
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.
$3942 average spending last 12 Months * 12 Months = $47,304 spending in a year
$369,478 net worth / $47,304 spending per year = 7.8 years’ worth of spending
Photo by Katarzyna Dutkowska on Unsplash
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