We’re halfway done with 2017 and this year is flying by. Let’s check in on my goal to decrease my spending from $22,491.86 last year by $4,491.86 to $18,000 this year. These are my averages for the first half of 2017:
Oooh maybe I should get another ledger like this.. And yes I’m that girl that always gets an itemized receipt 🙂
Let’s look at the explosion that was my 2016 spending. Overall I spent $22,518.67 which isn’t bad (compared to the $30,000 spending of 2015) but it’s still not as low as I’d like. A few factors for this level of spending were: Continue reading “2016 Spending”
Based on my end goal of financial freedom I’ve accumulated information from various books, blogs and traditional retirement calculators to determine how much I need to save to be able to live off of indefinitely. Overall I’m basing my calculations on the updated Trinity Study from 2009 that reinforces the 4% safe withdrawal rate for investments with a 75% stock, 25% bond asset allocation even when adjusting for inflation every year. Mr. Money Mustache makes a lot of excellent points about how this study in itself even builds in a large safety margin by assuming that a person would not adjust spending to account for economic reality, such as a recession, or substitute goods to compensate for the inflation of an individual item.