FIRE Month Savings Progress Report for July 2022

Unsustainable growth in numbers fueled by temporary increases in investments

What happened this last month?

I changed positions this last month, which will help fuel the numbers in a positive direction over the long run. However, due to a one-time sign-on bonus, our contribution rates for the month are artificially high. This means there is a strong likelihood that over the next several months, we’ll start to see projected numbers decrease.

Due to the job transition, overlapping of paychecks from new and previous employers, and a payout for unused vacation time, we decided to replace our bedroom furniture. The furniture we had previously is in excellent condition, but my wife had used much of it since she was in junior high or high school. Our bedroom was the last room that had all furniture that we didn’t pick ourselves.

July is when the second half of our property taxes are due. We also had our back door recapped so we could install a new storm door. Our dog had a teeth cleaning, and then a follow up due to digestive issues likely related to the teeth cleaning. Payment for summer dance classes was due and we purchased a lot of items for the fair. Hopefully many of them are a one-time expense since we can use the items again in the future. Finally, my wife and I were able to squeeze in an overnight weekend trip for our anniversary.

If you’re wondering what I use to track our numbers monthly, we use both Mint and Personal Capital. Personal Capital has a lot of cool planning tools that I haven’t seen anywhere else. You can check them out and we both get $20: https://pcap.rocks/adam4058

Where did we spend the most?

Our monthly expenses increase quite a bit compared to last month. They were considerably higher than last July. Our expense numbers took an unexpected turn in the wrong direction, partly fueled by optional purchases that we didn’t have to make. We still have some kitchen expenses that trail through the end of last year that will fall off, but we seem to be finding other things to replace them.

  • $1930 – Bedroom Furniture
  • $1173 – Property Taxes
  • $200 – Summer Dance
  • $741 – Fair and Horse Stuff
  • $125 – Door Recapping
  • $300 – Veterinary Expenses
  • $297 – Weekend Trip
Current and future value against Minimum FIRE Goal and 25x Expenses Goal

55.17% to target number (previously 46.27%)

This is our invested assets/target number. Our invested assets span across a variety of investment vehicles such as 401k, HSA, IRA, Roth IRA, ESPP (Employee Stock Purchase Program) and standard taxable mutual funds.

72 months (previously 73)

The number of months until my 45th birthday and our finish date.

32.73 months (previously 46.42)

The number of expected months until we reach our target number based on our current expected monthly contributions, assuming a 10% annual return.

10.73 times annual spending (previously 9.92)

This is how many multiples of our annual spending we have saved up towards our goal. For example, if this value was 9.1 and we spent $10,000 annually, we would have $91,000 saved up.

42.91 to minimum FIRE (previously 36.87%)

The minimum number to achieve FIRE is 25 times our annual spending. This number shows how close we are to the absolute minimum.

19.44 times annual spending at goal number (previously 19.73)

We have a goal amount that we’d like to reach. Given our current annual spending, this is how many times our annual spending we’ll have saved when we reach our goal number.

How Much We Invested

379.81% Month to Month Change In How Much Saved (previously -58.64%)

This number shows the change in what we saved this month compared to the prior month in things like 401k, Roth IRA, taxable accounts, and Employee Stock Purchase Program.

342.22% Month to Month Change in How Much Saved With Employer Contributions (previously -55.94%)

Same as the prior number, but with employer contributions counted.

32.66% Month to Month Change in 12 Month Savings Average (previously 1.78%)

This number show the change in what we saved this month compared to the prior month, but on a 12 month rolling average. This helps to smooth out months over time and shows a more general trend.

30.34% of 12 Month Average Net Income Invested With Employer Contributions (previously 1.94%)

Same as the prior number, but with employer contributions counted.

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