By Route 2 FI
Index Funds
In the figure below you can see my index fund value as of 1. October 2020.
- The blue line is the market value of my index funds: $401,509
- The orange line is the investment value of my index funds: $339,149
Income, Expenses And How Much I Can Withdraw According To The 4%-rule
- The figure above shows the connection between my income (orange), expenses (blue) and monthly FI money according to the 4% rule
- As a result I will become financial independent when the blue and red line crosses each other.
- If I quit my job today and never took a paid job again - my monthly FI money would pay out $1,338 every month for the rest of my life
It’s motivating to see that I can safely withdraw $1,338 every month for the rest of my life.
I will do everything I can to raise this dollar amount in the future.
As you all know my goal is to save $500.000 USD.
This means my monthly FI money goal is $1,667 USD each month. I’m over 1/2 to my goal and it feels great!
Recently I wrote a detailed post on how I will reach a $500.000 net worth in only 12 months!
Financial Stats September/October 2020
- Averarage expenses in 2020 so far: $1,247
- In 2019 my average expenses was: $1646
- Average income in 2020 so far: $8,072
- In 2019 my average income was: $5,575
- Monthly FI money as of October 2020: $1,338
Mortgage
We own an apartment 50/50 that has a total value of $547,000. That means my share is $273,500.
While this sounds good, my share of the mortgage is $226,574
The interest rate on the mortgage is 1,40 %.
Pension
My current pension is $59,215.
I recently found out that I had a pension plan in a job I had as a teenager as well. Pension is a really iliquid asset class, because I can't withdraw the amount before I'm 62 years old.
Student loan
After nine years with different studies I got $53,129 in student loans.
In Norway the university has no fees, so this is a loan covering basic living expenses while you're at the studies.
The interest rate is 1.39 %.
I'm not paying anything on this loan at the moment.
Total Net Worth
- Index Funds: $401,509
- Mortgage: $46,926
- Pension: $59,215
- Student Loan: $-53,129
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Related posts:
Net Worth Update #6 – May 2019
Net Worth Update #7 – June 2019
Net Worth Update: Almost $200,000 – July 2019 !
Net Worth Update: $203,394 – August 2019
Net Worth Update: $214,551 – October 2019
Net Worth Update: $256,568 – December 2019
Net Worth Update: $297,850 – February 2020
Net Worth Update: $333,417 – July 2020