Here is my updated net worth for March 2019. The increase in net worth wasn’t as big as the previous months, but any progress forward is good progress!
Net Worth for March 2019:
I had some larger bills to pay, so my checking account took a pretty big hit this month. I also transferred some extra money across to my savings account this month, so it really wasn’t as big as a negative as it seems. But across all my investment accounts there were nice gains to keep me in the positive! It’s nice to see the market continue to move in this direction right now.
This also means that I’ve finally hit another all-time high on my net worth once again, and even if it’s just a little higher than February it’s still something to celebrate.
So let’s see how far my assets would actually take me at this point in time. I’m going to calculate that using my average spending over the last 12 months. I’ll then multiply that result by 12 months to get the total spending for the year, and then divide my total net worth by that amount. That’s how long I’d be able to live off my savings at that point in time.
$2698 average spending last 12 Months * 12 Months = $32,376 spending in a year
$153,342 net worth / $32,376 spending per year = 4.74 years worth of spending
I also thought it would be cool to see the opposite, how much would I be able to withdraw each month? I set the rate of return at 4% as a conservative guess, and the retirement time period would be for 30 years.
I’d be able to withdraw $729 a month for 30 years which is 27.0% of my average monthly spending.