Update for May 2017:
2017 Savings Goal: 91% (4% monthly change)
Back on track to exceed our goal for the year.
2017 Spending Goal: 63% (+5% monthly change)
Spending was right where it should be for the month. In fact, if we exclude the car purchase from last month (which won’t be a consistent monthly expense in retirement), we are in good shape, at only 36% of our spending goal with 7 months left.
2017 Giving Goal: 14% (0% monthly change)
No change here. This will increase this month.
Financial Independence Goal: 49.2% (+5.2% yearly change)
Almost past the halfway mark and on our way to the downward slope. If watching our portfolio in the past has taught me anything, the second half of financial goals is always easier than the first…. Thank you compounding interest.
The closer we get to FI, the more excited we get about starting our new life, and makes us wonder about our target savings goal.
- Is it worth reducing our spend budget during retirement in order to achieve FI earlier?
- Or is working longer to build up a larger nest egg (which offers more spending power) in retirement better?
Interested in hearing your comments.