State of the Bear Cave – February 2017
Time for another monthly update on our path to financial independence. January was a rainy one out here in the Bay Area, which meant a lot of staying inside the cave, trying to stay dry. A good result of that is that we didn’t spend much money! Other than a return to more normal levels of spending after the higher than usual amount around the holidays, not much happened this month if I’m perfectly honest. We’ll have some big news to share in a few weeks, but I’ll let Mrs. Grizzly spill the beans on that development.
State of the Bear Cave
Total income including our frontloaded 401k contributions and employer matches came it at around $31k. We still make a lot of money, but we’re both looking forward to the day when that crashes back down to a much lower number. It will mean we have more time. We saved $23k of that for a savings rate of 75%.
Invested assets once again ticked up due both to our savings and some decent returns in the market in January. We’re now up to $651k. We’re crossing our fingers that we hit $700k by the end of Feb.
Our total years till retirement ticked down again to 5.2 years. This is significantly higher than the actual number that we’re targeting right now. There are a lot of expenses built into our lifestyle right now that won’t be present post FI. The number will start to tick down to a more reasonable level as we start to do things like shed our massive mortgage payment, cut back on childcare, etc.
|Student Loan Interest||0|
|Home Owners Insurance||0|
|Cleaning Service/Lawn Care||230|
Overall, a very good month for cutting back. The rain really served us well. Lots of nights in cuddled on the couch really helps keep your pocketbook happy. No major items to report in the monthly spending breakdown. Next month there should be some more interesting things to talk about. I know I keep alluding to it, but we do have some exciting news about our future plans. But I promised to let Grizzly Mom share it, so I can’t blab just yet.