FIRE Month Savings Progress Report for September 2021

Month 4 of the Kitchen Remodel

This month’s numbers don’t look great. With our increase in expenses because of the kitchen, and the market not doing as well this month, most numbers moved in a negative direction. However, when the market is down, even a little, it’s a buying opportunity.

One positive this month is in how much we saved. That number continued to tick up a little bit. Unfortunately, it’s not likely that we’ll be able to continue to boost that number every month.

Some of this month’s expenses were annual – insurance, furnace inspection, Europe trip, orthodontist and Mint Mobile annual bills. Other expenses were irregular – kitchen stuff, tires for the Prius, veterinarian, and an A/C repair from the inspection.

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, and our expenses this past month increased a very small amount compared to the month prior. As the kitchen project wraps up, our expenses should drop in about a month or two.

  • $1055 – Plumbing
  • $906 – Cabinet trim
  • $570 – Wellness visits and supplements
  • $467 – Tires
  • $397 – Mint Mobile (1 year plan for 2 phones)
  • $286 – Veterinarian
  • $269 – Umbrella insurance
  • $268 – Furnace inspection and repair
  • $197 – Europe trip
  • $175 – Orthodontist

The Money Related Numbers

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

53.68% to target number (previously 55.73%)

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.

82 months (previously 83)

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

45.01 months (previously 43.37)

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

9.26 times annual spending (previously 10.06)

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.

37.06% to minimum FIRE (previously 40.26%)

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

17.26 times annual spending at goal number (previously 18.06)

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

-6.28% Month to Month Change In How Much Saved (previously -41.58%)

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.

-4.62% Month to Month Change in How Much Saved With Employer Contributions (previously -43.74%)

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

4.63% Month to Month Change in 6 Month Savings Average (previously 5.94%)

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.

4.22% of 6 Month Average Net Income Invested With Employer Contributions (previously 5.20%)

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

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