November was not a good month for savings as I didn’t save any money during November. Since I thought I was going to have to raid my savings during December, I didn’t bother putting any money in savings during the month. As it turned out, I did get a job at the beginning of this month and won’t have to raid my savings and could have made at least a token contribution to my savings during November. I’ll save as much money as I can this month, but it looks like I won’t meet my goal of saving 50% of my income.
My SWR went up to 49.15% from 47.67% the month before. I haven’t been able to make consistent progress on my SWR since my tax job ended in April. The 4% SWR translates into having 25x your annual expenses in savings or 300 months of expenses in savings. Once I reach that point I will consider myself financially independent. The tax job is starting back up in January and the job I am working now will overlap that job for a couple of weeks so I’ll be making a decent income for the next few months and should start making progress on my SWR again. I have 24.41 months of expenses saved, compared to 25.17 months the month before. I went slightly backwards on that measure as well. I’m looking forward to getting my savings back in gear and making significant progress towards my savings goals again.
2 thoughts on “November Savings Rate – 0%”
Do you figure possible social security income into your retirement formula?
I don’t figure social security income in my retirement calculations. I do expect to eventually receive social security, but since I hope to retire many years before being eligible for SS I don’t count it now.