FIRE Month Savings Progress Report for October 2021

Month 5 of the Kitchen Remodel

We’re finally in the final stages of the kitchen remodel. I think I can safely say that next month will not be Month 6 since it’s just touch up work to be done and little bit of trim. Definitely nothing that interferes with our being able to use and enjoy it.

I believe this will be the last month of our monthly expense increases. That should mean that over the next year, we’ll see our expense numbers improve dramatically as they start to fall in line with a traditional year where we aren’t trying to remodel or incur other large expenses. For example, in November of last year we bought a car. We don’t plan on doing anything quite that large this year. That means November should be a correction month where we start to see our 12 month annual expenses begin to decline.

If you’re wondering what I use to track our numbers monthly, it’s Personal Capital. You can start using them too and we both get $20: https://pcap.rocks/adam4058

How did this affect us?

Our average of monthly expenses continue to increase, but our month-to-month number declined compared to the month prior. This is the last month of incurring major kitchen expenses. We decided to also incur some extra expenses this month, such as paying the rest of the orthodontist, so we won’t be charged in future months.

  • $2056 – Backsplash
  • $1040 – Orthodontist
  • $307 – Car Service
  • $205 – Weekend Getaways
  • $197 – Europe trip
  • $193 – New Fitbit (you couldn’t see the screen on my old one anymore)

The Money Related Numbers

Current and future value against Minimum FIRE Goal and 25x Expenses Goal

57.83% to target number (previously 53.68%)

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.

81 months (previously 82)

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

39.17 months (previously 45.01)

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

The Expense Related Numbers

9.57 times annual spending (previously 9.26)

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.

38.30% to minimum FIRE (previously 37.06%)

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

16.56 times annual spending at goal number (previously 17.26)

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

16.20% Month to Month Change In How Much Saved (previously -6.28%)

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.

29.70% Month to Month Change in How Much Saved With Employer Contributions (previously -4.62%)

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

6.94% Month to Month Change in 6 Month Savings Average (previously 4.63%)

This number show the change in what we saved this month compared to the prior month, but on a 6 month rolling average. This helps to smooth out months over time and shows a more general trend.

7.43% of 6 Month Average Net Income Invested With Employer Contributions (previously 4.22%)

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

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