Ah. It’s been a busy week.
First thing, a new Atomic Robo has been released, go support your local comic shop and buy it.
Second, the delay in posting was due to the fact we had no electricity from Monday to Friday. I am kind of glad though because it has convinced my brother that a generator station is required.
Third, my brother and I took time to clean out our shed. The plan for rebuilding the farm has jumped ahead by years from the timetable I had in my head.
Now, this weeks post, we get the calculators out to figure out the time frame. Figures that I would lose two days of work and it would screw up my pay rate for two weeks.
Mr Money Mustache recommends that you have 25 times your annual spending or whenever your spending is 4% of your assets.
My annual spending last year was 7,500. Both techniques render 187,500 as the goal. Current Net worth is 17,492.37.
17,492.37/18,7500=.093. 9% Percent towards goal.
400 dollars a week.
333.34 take home pay.
166.67 goes into savings right off hand.
Income from mowing.
1,100. As of June 30.
263 a year in dividends.
My savings situation is a little complicated.
Currently, 77 dollars a week is added to the base amount. I figured that each quarter it would add up to be 1,000 dollars. This month’s schedule is
July 2: $4,310
July 9: $4,387
July 16: $4,464
July 23: $4,541
July 30: $4,618
Once every quarter I transfer the surplus amount to my stock brokerage to buy more stock. This combines with the dividends to buy more stocks.
This is going to be a snapshot of the time it will take.
That’s not very encouraging, is it? Let’s add the mowing income to savings.
Half my income won’t do it. How about 60%?
We’ll throw 75% at it.
170007.63/14,363= 11.83 years.
Looks like I have a decade of work any way I slice it. I’ll have to look into some higher yield investments.