I’m sensing a recurring pattern here, and I’m certainly not complaining about it! September was another solid month for me financially. Medical spending was a little higher again this month as I continue physical therapy, and I did book a small getaway a few hours away. This led to my cash accounts being slightly negative this month, but again the market and my savings propped me up on the positive side of things in a big way.
September Liquid Net Worth:
September was a down month for my cash accounts, but my investments and retirement savings carried the bulk of the changes again. I’m hoping that the market continues this pace through the end of the year.
September Total Net Worth:
The dream is still alive to hit a net worth of $700,000 by the end of the year. It’s looking like I’m $35,000 short of the goal, and I have 4 more months to hit the goal. So that would take an average increase of about ~$9000 each month which is doable based on the trend from this year, but it’s going to be a close one.
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.
$4335 average spending last 12 Months * 12 Months = $52,020 spending in a year
$466,108 net worth / $52,020 spending per year = 8.9 years’ worth of spending
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