Current Status & Goals for 2024
Financial Goals 2024
Mrs to aim to get a promotion in the next 2 years
Mr to max out £20,000 ISA allowance
To increase net worth to £480,000 in the next 1 year
Wellbeing Goals 2024
To lose at least 10kg
Try to have more “me” time
Exercise at least once a week
Net Worth Status
I plan on updating this section of the website each year to update you on where the Mrs and I are at.
I started tracking my net worth in December 2020 (06/12/2020 to be precise). So where “Years” equals “0” in the graph on the right side of the page, this relates to that date.
We only added the Mrs’ net worth from July 2021 - hence the jump at approx. “0.8 years”. So I will summarise below only from end of 2021 onwards.
The graph on the right is interactive so you can click on it if you want to take a closer look.
We don’t include the increase in value of our house in our net worth but as of 31/12/2022 Zoopla estimates that it is £69,000 higher than what we paid for it.
End of 2021 Total Net Worth = £319,152.82
End of 2022 Total Net Worth = £321,662.47
End of 2023 Total Net Worth = £411,225.12
Spending Status
We only started tracking our spending in 2022 so we only have data for that year.
Total Spend 2022 = £36,862.07
Total Spend 2023 = £42,205.40
The graphs to the left and below give more of a breakdown. You can also click on these if you want to take a closer look at the data.
Route to FIRE
I stole this one off the Mad Fientist but I thought it was a pretty good way to visualise FIRE progress and trajectory.
You will see the graph on the right shows the following:
Monthly Spend: this is based on the spend data points that we have and will continue to accumulate over the years in advance of FIRE. The average monthly spend represents the amount required from our investments to achieve FIRE.
Investment Income Current: this is the assumed income that we could theoretically take from our investments now based on the 4% rule.
Investment Income Forecast: this is the forecast going forward for our investments in advance of achieving FIRE. Assumed to grow at 7% for simplicity.
Based on the above assumptions, this graph indicates that we will achieve FIRE in approximately 4 years. However, we should also keep in mind that we may want to reduce our expenses to make FIRE more achievable in a shorter period of time.
