Net Worth Update – March 2024

March was a solid month for me, with spending being on par with my income and nothing out of the ordinary. The market continues to move in a positive direction this month, and my investment accounts are certainly seeing that benefit. I’m wondering how long this rally will continue, as the Fed is promising rate cuts later in the year but inflation is still above the target rate. I’m very curious how the inflation numbers will look in a week when March is released.

March Liquid Net Worth:

Cash accounts are flat this past month, which was great to see. Investment accounts were through the roof this month, with some help coming from the mid-year company contribution to my 401k. It’s another great month for my liquid net worth.

March Total Net Worth:

It might not be that slow of a march to $700,000 like I originally thought! There’s been a big increase in my retirement accounts and my home value estimation. There are similar homes listed in the neighborhood for over $500,000 which is crazy to me, we’ll see if they actually sell for that amount though. Next month I’m hoping to cross the $600,000 threshold.

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.

$4175 average spending last 12 Months * 12 Months = $50,100 spending in a year

$419,185 net worth / $50,100 spending per year = 8.4 years’ worth of spending

Photo by Christian Weiss on Unsplash

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