Highest Expenses to Date

What happened this last month?

This month saw our highest expenses so far since we’ve been tracking them. We had our roof replaced with a metal roof, as well as had our landscaping redone with some stone edging, the weed mat replaced, and all the landscape stone returned. Several years ago we chose stone over mulch and I think it’s paid for itself all those years ago.

We also bought a new saddle for the horse since our previous one was not a good fit for him. Our oldest will be a senior in high school this month, and of course that means senior pictures (and a wardrobe to go with it). I don’t remember that being a thing when I was a senior, but I’m also a guy and probably didn’t care that much.

On the income side of things, I got an unexpected bonus which is why the amount we invested jumped up this month.

Where did we spend the most?

Our monthly expenses were up considerably compared to last month. Annually, they’re up more that double compared to last June.

• $22343 Roof
• $2300 Landscaping
• $2000 Saddle
• $1110 Family Camp
• $581 Senior Pictures (and related expenses)
• $405 Horse Services

The Money Related Numbers

92.75% to target number (previously 89.80%)

This is our invested assets (401k, HSA, IRA, brokerage, etc.) divided by our target goal number.

48 months (previously 49)

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

4.70 months (previously 6.88)

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

The Expense Related Numbers

12.08 times annual spending (previously 13.29)

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.

48.13% to minimum FIRE (previously 53.18%)

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

13.03 times annual spending at goal number (previously 14.80)

We’d like to save 25 times our annual spending. This is how many times our annual spending we’ll have saved when we reach our goal number. If it’s 25 or greater, than our goal number will be enough to cover our expenses. If it’s lower than 25, we’ll need to either cut our expenses or increase our goal number.

How Much We Invested

243.77% Month to Month Change In How Much Saved (previously -62.80%)

This number shows the change in what we saved in our investment accounts this month compared to the prior month.

206.71% Month to Month Change in How Much Saved With Employer Contributions (previously -60.89%)

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

6.93% Month to Month Change in 12 Month Savings Average (previously -1.20%)

This number shows the change in our 12 month rolling average. This helps to smooth out months over time.

6.25% of 12 Month Average Net Income Invested With Employer Contributions (previously -1.05%)

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

How we track the numbers

I’ve been using Empower (referral link) to track our numbers. I put them into a spreadsheet that calculates the numbers you see above.