Financial Update | June 2018 Savings and Investment
This is the June 2018 Update of my savings and investments balances, i.e. my personal capital. I don't call it net worth because my massive student loan debt keeps me at a negative net worth and frankly that's discouraging.
I tried my hand at Excel to make a simple bar graph. It took a few hours to remember all the words. I kept getting so many error messages. So if it's been awhile since you tried Excel, don't give up after the first error message! Once you figure out what they're asking for, it only takes about 15 minutes to format.
Let's quickly recall some budget items:
2018 Savings goal: $37,000/yr (2017: no goal)
Monthly savings contributions: $3115/mon
When you add in my Safety Net Fund + Regular Savings and Checking, the amount is a little more.
💜 Yay! I've sort of reached that enviable $100,000 hump.💜 I'm not celebrating yet. I don't really count my checking and savings amount yet. I see that as my safety net fund. Experts recommend 6 months. I went ahead and saved for about 1 year of expenses ($30,000) for a couple reasons. First, it was a default choice because I had that first 6 months in CDs and I didn't want to cash them out when I first started investing in Dec 2017. Secondly, I have this fantasy of just quitting my job and in case I do, I'd like to have 6 months readily accessible. I mean I probably won't, but sometimes humans do crazy things. Also, both my brokerage account and 401k are using my traditional retirement age of 65 to allocate my funds at a risky 90% in stocks. I keep going back and forth (future scheduled posts), but in short, it makes me feel better to have 1 year's expenses on hand. I know the compound interest lost is causing investment aficionados to gasp in horror, but again, I've only been investing "actively" for about 6 months now. That's all folks!
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