July will now make it three months in a row with a positive trend, with April being the only negative month for me in 2024. I’m guessing for anyone else with a sizeable amount invested in index funds, you are probably seeing a similar trend to me. It’s another month where the majority of my spending went towards healthcare, but otherwise I was able to stay under budget. There was also a sizeable expense for pet care which also added to cash deficit for July.
July Liquid Net Worth:
Another positive month thanks to the market, which seems to be the trend for my finances in 2024.
July Total Net Worth:
Total net worth pace is slowing down, but it’s still heading in the right direction. It feels like the $700,000 net worth goal by the end of the year may have a bit too much of a stretch now, but we’ll see how the next few months go.
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.
$4286 average spending last 12 Months * 12 Months = $51,432 spending in a year
$441,637 net worth / $51,432 spending per year = 8.6 years’ worth of spending
Photo by Simon HUMLER on Unsplash
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