My gosh you guys, I wrote a quick little post in December on how my 2018 went.
It’s time I do an actual full update and set some new goals! I didn’t update a whole lot through 2018 as I was much too busy being my workaholic self to bother with writing nonsense on the internet. 😉 I did note that I went from about $130,000 networth in April 2018 to about $179,000 in December 2018. I took the time today to actually review the true stats;
I use YNAB to track all my expenses and accounts and it tells me that at the end of December 2017 I had a networth of $110,413.61. Now that all the marbles have been tallied and updated for 2018, my final stats are….
Holy cow! Isn’t that just incredible? I increased my networth by $71,726.43 through saving and investments. I’ve double-and even triple checked the numbers and all my accounts appear to be listed accurately. I’m pretty happy with how the year turned out.
I tracked by expenses as well, approximately $15,000 was spent on living.
I had a huge year for medical spending, I am thankful to live in Canada where doctors visits are covered.. but I spent quite a lot this year on orthodontics, the dentist and supplements and ND visits that are not covered. My other largest bill was food… I do not pay rent or a mortgage (as Toms house is PIF) but do cover more of the food bill,
Not including in my spending was travel spending;
- 11 week RTW Oct-Dec cost $3,975.63 + approx $700 cash
- One week in NYC August $331.58
- January 3 week Philadelphia/Florida: $853.11
- and various weekend totalling about 2 weeks away which I did not factor in, an approximate $750 orso was spent on that (my share)
Total spent on 17 weeks of travel: $6,610.32 or $389/week. Not bad!
I also spent a rather large amount on my new-to-me baby-SUV, a 2014 Chevrolet Trax for which I paid $12,900 when all was said and done.
All in all, I spent a fortune on EVERYTHING in 2018, I also earned a fortune and saved A LOT.
Now, about those goals, what about 2019?
For 2019 my singular goal will be to keep increasing passive income and consequently my networth! I haven’t done any recent updates with regard to my current portfolio so that shall remain a mystery for now. I created a spreadsheet that tracks my current holdings and passive income, and shows my monthly number at one glance;
As you can see, at $273 a month or $3,276 a year I have quite a while to go before I’m anywhere near retiring off it. My magic number for my current financial situation is $239,000 invested, this generates a measly $700/month in income, of which it’s possible for me to live off.. but not enjoyably, most likely.
So for 2019 I’d like to increase my NW to $220,000, this is a $38,000 increase and its a conservative number compared to what I accomplished in 2018…. and at the end of 2019 I’d like that monthly passive income to come in at $385/month.
As in previous years, I’ll be tracking using my progress bars in the side bar —>
2 goals, 11 months to go, let’s do this. 🙂