Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 92225 times)

nawhite

  • Pencil Stache
  • ****
  • Posts: 985
  • Location: An RV somewhere in the West
    • The Reckless Choice
Re: Gauntlet: Long Term Net Worth Goals
« Reply #100 on: June 18, 2014, 10:22:36 AM »
Net worth = $0 by January 2014. And its going to be amazing!

If I count appreciation on my house (according to zillow which is fairly accurate in my area), I hit $0 net worth in early December. If I don't count the appreciation, I will hit $0 net worth last Friday but will probably drop down below $0 again before the next paycheck. From that point on though its UP UP UP!

I guess I need to go more long term now.

Current NW: $30k
Current Student Debt: $90k (assets are about $120k)

Jan 2015: $75k NW, $75k debt
Jan 2016: $130k NW, $50k debt
Jan 2017: $200k NW, $20k debt
March 2017: $250k NW, $0k debt

March 2017 will by my 30th birthday and my DW and I are planning on downshifting our life when the student loans are done. At that point, we'll have enough in the retirement accounts that we never need to save for a normal retirement again (they should grow to about $700k by the time we're 65). At that point we go to "only work enough to earn enough to live." I may go part time with my job and save a bit more or I might just quit for good and be a SAHD. We'll see. NW goals first.
We live in an RV full time while still working remotely. Check it out at http://therecklesschoice.com

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #101 on: June 18, 2014, 10:28:03 AM »
March 2017 will by my 30th birthday and my DW and I are planning on downshifting our life when the student loans are done. At that point, we'll have enough in the retirement accounts that we never need to save for a normal retirement again (they should grow to about $700k by the time we're 65). At that point we go to "only work enough to earn enough to live." I may go part time with my job and save a bit more or I might just quit for good and be a SAHD. We'll see. NW goals first.

That's awesome.  I love that "assets will grow to hit full FI without me touching them, so we'll just work the minimum amount for living expenses" idea.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

lhamo

  • Walrus Stache
  • *******
  • Posts: 5396
  • Location: Seattle
Re: Gauntlet: Long Term Net Worth Goals
« Reply #102 on: June 18, 2014, 03:02:00 PM »
Almost a year out from my original post.  Net worth is up 16.29%.  Looked back at ranges for the past five years and we have had annual net worth increases between 11% and almost 47%, so as long as the stock/property markets don't tank I think a 10% year on year increase is reasonable.

Job situation still not settled, but most likely will only be getting a small promotion and a modest raise.  Feeling extremely burned out at the moment and not sure how much longer I'm willing to put up with everything.    Will take a fair amount of convincing to get DH to consider leaving paid employment, though. 

Yes, I think part of it is cultural, though ironically many people in China retire at 55 (his current age).  I think he also has an even worse case of "bag lady syndrome" than I do, and mine is a pretty serious case.  He also has a hard time with the idea of homeschooling, and there are no satisfactory school options in his hometown, so it has been hard to get him to see the "we'll sell the apartment in Beijing, buy a very nice place in hometown, and homeschool the kids while living off the profits of the apartment sale" option as being a viable one.  I have pitched the idea of us actually setting up our own international school in hometown to him, but he doesn't seem interested in that, either.  We'll see.  One thing I know about myself is that when things reach a crisis point I can be pretty intense about working out alternative plans.  I hope it won't get to that, but waiting to see what happens with the finalization of my role/compensation package.  The stress has been so high the past few months (I have had 4 months straight of working 10-12 hour days, including lots of weekend work that I don't get comp time for) that I am near the breaking point.  Just finished a major event yesterday and hopefully will have some other very stressful stuff wrapped up by the end of the week, so maybe that will help make things feel less dire. 

Can I ask what field your partner is in? I have a bit of a knack for helping people find jobs. 

Congrats lhamo! It can be tough to keep a partner on the same page. Is some of his resistance to leaving paid employment cultural? Extended family pressure? (I currently have the opposite challenge; my partner is underemployed here, he's earning a fraction of what he's worth and he is convinced there are no jobs in his field in China...this is tough going in our accumulation phase)
Wherever you go, there you are

nawhite

  • Pencil Stache
  • ****
  • Posts: 985
  • Location: An RV somewhere in the West
    • The Reckless Choice
Re: Gauntlet: Long Term Net Worth Goals
« Reply #103 on: June 18, 2014, 04:41:35 PM »
March 2017 will by my 30th birthday and my DW and I are planning on downshifting our life when the student loans are done. At that point, we'll have enough in the retirement accounts that we never need to save for a normal retirement again (they should grow to about $700k by the time we're 65). At that point we go to "only work enough to earn enough to live." I may go part time with my job and save a bit more or I might just quit for good and be a SAHD. We'll see. NW goals first.

That's awesome.  I love that "assets will grow to hit full FI without me touching them, so we'll just work the minimum amount for living expenses" idea.

I've heard a few people on here who have similar plans. I wish it had an acronym like FIRE though that was catchy. We won't technically be financially independent so I can't use that one. Maybe "downshifting" would work?
We live in an RV full time while still working remotely. Check it out at http://therecklesschoice.com

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #104 on: June 18, 2014, 06:33:05 PM »
March 2017 will by my 30th birthday and my DW and I are planning on downshifting our life when the student loans are done. At that point, we'll have enough in the retirement accounts that we never need to save for a normal retirement again (they should grow to about $700k by the time we're 65). At that point we go to "only work enough to earn enough to live." I may go part time with my job and save a bit more or I might just quit for good and be a SAHD. We'll see. NW goals first.

That's awesome.  I love that "assets will grow to hit full FI without me touching them, so we'll just work the minimum amount for living expenses" idea.

I've heard a few people on here who have similar plans. I wish it had an acronym like FIRE though that was catchy. We won't technically be financially independent so I can't use that one. Maybe "downshifting" would work?

Yes, it's not novel, just neat. :)

It's closest to semi-ER.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

expatartist

  • Pencil Stache
  • ****
  • Posts: 771
  • Location: The Big Lychee
Re: Gauntlet: Long Term Net Worth Goals
« Reply #105 on: June 18, 2014, 06:46:39 PM »
I've heard a few people on here who have similar plans. I wish it had an acronym like FIRE though that was catchy. We won't technically be financially independent so I can't use that one. Maybe "downshifting" would work?

We call it 'downshifting' and it's what we're thinking to do once barebones FI: let things compound for a couple of decades as we age, maybe dipping in now and then for 6 months/a year of travel or research projects. This would keep us working in our industries or let us experiment with new ones, and give us more padding once we're older and could use a bit more for healthcare etc.
Enjoying the frugal life while living in 150 sqf in the world's most expensive city https://forum.mrmoneymustache.com/journals/squeezing-the-most-out-of-life-in-hcol-hong-kong/

expatartist

  • Pencil Stache
  • ****
  • Posts: 771
  • Location: The Big Lychee
Re: Gauntlet: Long Term Net Worth Goals
« Reply #106 on: June 18, 2014, 06:52:11 PM »
Job situation still not settled, but most likely will only be getting a small promotion and a modest raise.  Feeling extremely burned out at the moment and not sure how much longer I'm willing to put up with everything.    Will take a fair amount of convincing to get DH to consider leaving paid employment, though. 

Yes, I think part of it is cultural, though ironically many people in China retire at 55 (his current age).  I think he also has an even worse case of "bag lady syndrome" than I do, and mine is a pretty serious case.  He also has a hard time with the idea of homeschooling, and there are no satisfactory school options in his hometown, so it has been hard to get him to see the "we'll sell the apartment in Beijing, buy a very nice place in hometown, and homeschool the kids while living off the profits of the apartment sale" option as being a viable one.  I have pitched the idea of us actually setting up our own international school in hometown to him, but he doesn't seem interested in that, either.  We'll see.  One thing I know about myself is that when things reach a crisis point I can be pretty intense about working out alternative plans.  I hope it won't get to that, but waiting to see what happens with the finalization of my role/compensation package.  The stress has been so high the past few months (I have had 4 months straight of working 10-12 hour days, including lots of weekend work that I don't get comp time for) that I am near the breaking point.  Just finished a major event yesterday and hopefully will have some other very stressful stuff wrapped up by the end of the week, so maybe that will help make things feel less dire. 

Can I ask what field your partner is in? I have a bit of a knack for helping people find jobs. 

It sounds like you've been stretched to the limit for some time now! Were you traveling a lot too? Hopefully as the summer goes on you'll be able to enjoy some of it. This time of year we get amnesia about Beijing winters, it's what got me signing a 2-year contract....

Thanks for thinking of DH, I will PM you.

Edited to fix quotes.
Enjoying the frugal life while living in 150 sqf in the world's most expensive city https://forum.mrmoneymustache.com/journals/squeezing-the-most-out-of-life-in-hcol-hong-kong/

pka222

  • Stubble
  • **
  • Posts: 105
  • Age: 39
  • Location: south pacific
Re: Gauntlet: Long Term Net Worth Goals
« Reply #107 on: June 18, 2014, 08:30:00 PM »
Ok - day late and a dollar short but my long term net worth goals are

 Net Worth Stretch Goals:
(Current - June 2014) 320k
1 Year (June 2015) - 400k
2 Years (June 2016) - 500k
3 Years (June 2017) - 620k
5 years FI for sure
10 years 1,000,000 (insert evil laugh)

My goal will mean saving 4 full years of salary in 3 years (i.e. no spending).  My current spending/savings rate has us falling 120k short- so that is a lot of side work, good returns or making a real estate project I've been thinking about work out.  I'd be FI if I could pull off the stretch goal though.   

beege

  • 5 O'Clock Shadow
  • *
  • Posts: 41
  • Age: 30
  • Location: Alaska
  • Trying not to suck
Re: Gauntlet: Long Term Net Worth Goals
« Reply #108 on: June 20, 2014, 07:20:40 AM »
Wasn't a really Mustachian at this time last year (maybe started scratching the surface a bit) but since then my SO and I have converted fully! After discovering MMM in September, we started the process around October last year and have continued to make improvements since. In that time, my SO negotiated to work from home full time, got a 7% raise while I started a new job. And we moved so that I could bike there. We have also done numerous other things to kill off bleeding expenses (reducing cell phone bills, power bills, etc) as well as concentrating on living a minimalist life (no TV, getting rid of unnecessary possessions). We just sold one of our cars yesterday, hope to sell my truck soon so we will be a one car household!

Saw this post and thought we might as well join in on the goals. Hope to check in next year (this is our joint NW):
(Current - June 2014) - 429K
1 Year (June 2015) - 600K
2 Years (June 2016) - 800K
3 Years (June 2017) - 1MM

Honestly those are a bit of a stretch, but I hope raises and our lifestyle changes (and market returns) may help us hit them. Though we are both relatively young (27) we have a few challenges in that we are paying for the mortgage for my SO's mother's place since she came to the US later in life to escape a war, raised 4 kids without a husband and has no retirement savings. That'll slow down our FI by a year or two (if we don't count that condo then our real NW number is the above minus 220K) but it's worth it to us. I also loaned my sister 60K to help her buy a house so I suppose that could be tacked on to our NW as well but I don't expect to see that money again for a long time (if ever).
FIRE class of 2019

ivyhedge

  • Bristles
  • ***
  • Posts: 290
  • Location: United States of Farse
Re: Gauntlet: Long Term Net Worth Goals
« Reply #109 on: June 20, 2014, 01:14:55 PM »
Next milestones:
$1.03m (current)
$1.7m
$2.4m
$3.4m
$4.7m
More Boglehead than Mustachian. Polymath.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #110 on: June 20, 2014, 02:02:47 PM »
Next milestones:
$1.03m (current)
$1.7m
$2.4m
$3.4m
$4.7m

No dates for those?   :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

ivyhedge

  • Bristles
  • ***
  • Posts: 290
  • Location: United States of Farse
Re: Gauntlet: Long Term Net Worth Goals
« Reply #111 on: June 20, 2014, 02:40:13 PM »
Next milestones:
$1.03m (current)
$1.7m
$2.4m
$3.4m
$4.7m

No dates for those?   :)


< 8yrs
More Boglehead than Mustachian. Polymath.

ohyonghao

  • Pencil Stache
  • ****
  • Posts: 628
  • Age: 33
  • Location: Hillsboro, OR
    • OhYongHao Life Blog
Re: Gauntlet: Long Term Net Worth Goals
« Reply #112 on: June 20, 2014, 02:52:36 PM »
Our long term Net Worth goals are about as follows:
2014: $60,000
2015: $90,000
2016: $125,000
2017: $160,000
2018: $200,000
2019: $250,000
2020: $300,000

At $300,000 we could retire back to my wife's home country as yearly expenses would be around $12,000 for both of us, maybe less if living with family.  We'll probably evaluate our situation at that time and maybe keep working a couple more years, or possibly try to work/get a degree so I can teach English while back in Taiwan for some extra spending money if the market dips.

Wow, looking at these numbers they feel completely doable.  Thanks for this great thread!

KBecks2

  • Pencil Stache
  • ****
  • Posts: 652
Re: Gauntlet: Long Term Net Worth Goals
« Reply #113 on: June 21, 2014, 01:08:10 PM »
This is a very interesting thread, but honestly I don't know what's are not worth the goal should be. Right now we are at around 800 K. While we have been working on reducing expenses and working on the budget, I don't know what our savings rate will be, or what's coming next.  Hmmm. You've given me something to think about.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #114 on: June 21, 2014, 02:47:56 PM »
This is a very interesting thread, but honestly I don't know what's are not worth the goal should be. Right now we are at around 800 K. While we have been working on reducing expenses and working on the budget, I don't know what our savings rate will be, or what's coming next.  Hmmm. You've given me something to think about.

Sounds like you have some fun planning to do!  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Carrie

  • Bristles
  • ***
  • Posts: 288
Re: Gauntlet: Long Term Net Worth Goals
« Reply #115 on: June 21, 2014, 03:00:20 PM »
Current NW 6/14 = $551k
YE 2014 goal = $600k
YE 2015 goal = $700k
YE 2016 goal = $810k
YE 2017 goal = $950k
Have no idea if this is realistic -- currently saving $27k to retirement/yr and paying down the mortgage by about $10-$15k per year, adding $3600 to college accounts per year (about to increase this as we add another child), so the remainder will have to be from market gains.

HappierAtHome

  • Walrus Stache
  • *******
  • Posts: 5250
  • Location: Australia
Re: Gauntlet: Long Term Net Worth Goals
« Reply #116 on: June 21, 2014, 06:04:47 PM »
2017: $1M.
2027: $2.5M.

Well, the thread title does say "long term"...

Jon_Snow

  • Magnum Stache
  • ******
  • Posts: 3291
  • Location: An Island in the Salish Sea (with necessary stints in Vancouver)
Re: Gauntlet: Long Term Net Worth Goals
« Reply #117 on: June 22, 2014, 10:52:54 AM »
It is easy to become fixated on net worth. I am guilty of this.

In our mid 30's we hit the 1M net worth mark - then at 41 we crossed 2M. Sometimes I find myself adding up all our assets (there is no debt anymore) and just staring at the numbers, wondering how the heck we did this. But an impressive NW number alone would not let us retire early.

The fact that our investments currently generate about 5k in monthly dividends is the IMPORTANT number. Net worth numbers do have a WOW factor though.... though our net worth growth is about to slow tremendously as I am soon to be jobless - yay!


arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #118 on: June 22, 2014, 10:59:52 AM »
I disagree, Mr. Snow.  You're just talking yield on capital.  But to each his own, and anyways it's not on topic for this thread.  Congrats on the upcoming retirement.  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Jon_Snow

  • Magnum Stache
  • ******
  • Posts: 3291
  • Location: An Island in the Salish Sea (with necessary stints in Vancouver)
Re: Gauntlet: Long Term Net Worth Goals
« Reply #119 on: June 22, 2014, 11:43:37 AM »
Thanks ARS... sorry to stray off topic.

BTW, good to read a bit more about your own story. Somehow, even though you are probably the most visible member of the forum, I have missed the details of your own FIRE journey.

ichangedmyname

  • Bristles
  • ***
  • Posts: 420
    • Luxe Frugality
Re: Gauntlet: Long Term Net Worth Goals
« Reply #120 on: June 22, 2014, 11:49:33 AM »
12/31/13: $12,341
As of 06/22/14: $27,383

That's an increase of 220% :D
Goal for June 2015 is $50k

http://luxefrugality.wordpress.com/ ~ where I share my journey to FIRE and Mustachianism and comments are appreciated ~

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #121 on: June 22, 2014, 11:49:52 AM »
Thanks ARS... sorry to stray off topic.

BTW, good to read a bit more about your own story. Somehow, even though you are probably the most visible member of the forum, I have missed the details of your own FIRE journey.

I enjoy commenting more on others than posting about myself, but occasionally I get the bug to post something, usually when asked a specific question by someone.  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Thedudeabides

  • Stubble
  • **
  • Posts: 242
Re: Gauntlet: Long Term Net Worth Goals
« Reply #122 on: June 22, 2014, 12:54:30 PM »
This has been a really inspiring thread to read through. Well done to all!

I'll go ahead and throw in my goals even though I'm a bit late to the thread.

6/2014: $770k
12/2015: $1MM

If we have a major market correction I'll have to revise.

I also need to work on clearer goals for RE. I could easily see myself becoming victim of OMY syndrome.

gecko10x

  • Bristles
  • ***
  • Posts: 418
Re: Gauntlet: Long Term Net Worth Goals
« Reply #123 on: June 22, 2014, 05:43:44 PM »

Further broken down goal (all End-of-year):
2013: $78k
2014: $105k
2018: $300k
2021: $550k
2025: $1m

The above goal was conceived early or mid 2012 @ ~$50k. Currently we are at ~$84k. It hinges almost exclusively on if my [amazing] wife can go from $0 income -> $50k/yr working from home in the next few years, so I already feel it's a bit of a stretch, but we are ahead of the curve so far, so that's a good sign.

Since it's coming up on 1yr since I posted this, thought I'd update: We hit $105 in January 2014 instead of Dec., so we are about 1yr ahead. However, I've revised down my investment return estimates, so shooting for $500k by 2021.

TexasBrit

  • Stubble
  • **
  • Posts: 131
  • Location: Dallas, TX
Re: Gauntlet: Long Term Net Worth Goals
« Reply #124 on: June 27, 2014, 12:10:02 PM »
Ok - day late and a dollar short but my long term net worth goals are

 Net Worth Stretch Goals:
(Current - June 2014) 320k
1 Year (June 2015) - 400k
2 Years (June 2016) - 500k
3 Years (June 2017) - 620k
5 years FI for sure

10 years 1,000,000 (insert evil laugh)

My goal will mean saving 4 full years of salary in 3 years (i.e. no spending).  My current spending/savings rate has us falling 120k short- so that is a lot of side work, good returns or making a real estate project I've been thinking about work out.  I'd be FI if I could pull off the stretch goal though.

Hi pka222.. I have pretty much the exact same net worth as you do! I have never planned it out like this although I feel your savings rate is a lot higher than mine. Good luck to you, I will be following this thread with interest, would love to hit FI in 5 years :)

Rebecca Stapler

  • Pencil Stache
  • ****
  • Posts: 907
    • Stapler Confessions
Re: Gauntlet: Long Term Net Worth Goals
« Reply #125 on: July 04, 2014, 02:39:32 PM »
I would love to have a zero net worth by January 1, 2015. But that is a wee bit too ambitious, so I'll aim for:

1/1/15: -$50,000
1/1/16: $0
1/1/17: $100,000
Mid-2014 Check-in: We are currently at -$78,000.

Our goal for the year is to wipe out $24k in SLs, so that will get us pretty close to our -$50k goal. Now to make it happen ...
Digging out of Debt with Frugal Living and Free Batteries: http://staplerconfessions.com/
Saving on Groceries: http://makinglemonadeblog.com/5-ways-to-save-money-on-groceries/
Make Money while Clearing out Clutter: http://makinglemonadeblog.com/turn-your-spring-cleaning-into-cash/

keith

  • Bristles
  • ***
  • Posts: 311
  • Age: 33
  • Location: Seattle/eastside
Re: Gauntlet: Long Term Net Worth Goals
« Reply #126 on: July 05, 2014, 12:57:37 AM »
Joining in on this thread a year late!

But the topic is especially relevant since I finally just hit 100k networth this week!! When I first joined the forums I had a negative networth, so I think this progress is worth celebrating.

I'm going to try and remember to check in each July on these goals.

Networth is currently climbing about 60k a year. Will try and at least hit these goals, with slight increases each year.

Today: 100k
July 2015: 165k (+65k)
July 2016: 235k (+70k)
July 2017: 310k (+75k)
July 2018: 390k (+80k)
July 2019: 475k (+85k)


arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #127 on: July 05, 2014, 01:26:25 AM »
That's awesome Keith, I love the goal to grow it every year (though hopefully with compounding it'll do that on its own, even if the amount you put in is flat). :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

keith

  • Bristles
  • ***
  • Posts: 311
  • Age: 33
  • Location: Seattle/eastside
Re: Gauntlet: Long Term Net Worth Goals
« Reply #128 on: July 05, 2014, 11:45:54 PM »
That's awesome Keith, I love the goal to grow it every year (though hopefully with compounding it'll do that on its own, even if the amount you put in is flat). :)

Thanks! Yeah with good market returns it should easily continue to grow each year with the compounding. These are pretty conservative estimates. I will probably make slight adjustments as I go, since they may end up being "too easy" - will find out next July!

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #129 on: July 06, 2014, 12:16:00 AM »
That's awesome Keith, I love the goal to grow it every year (though hopefully with compounding it'll do that on its own, even if the amount you put in is flat). :)

Thanks! Yeah with good market returns it should easily continue to grow each year with the compounding. These are pretty conservative estimates. I will probably make slight adjustments as I go, since they may end up being "too easy" - will find out next July!

Or sooner, hopefully. ;)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Workinghard

  • Pencil Stache
  • ****
  • Posts: 637
Re: Gauntlet: Long Term Net Worth Goals
« Reply #130 on: July 06, 2014, 03:04:50 AM »
Yep, my year end goal of 900k changed to 950k. And yes (too me) a year seems LONG (term)when you're working OT, watching, and waiting for the increase!

That's awesome Keith, I love the goal to grow it every year (though hopefully with compounding it'll do that on its own, even if the amount you put in is flat). :)

Thanks! Yeah with good market returns it should easily continue to grow each year with the compounding. These are pretty conservative estimates. I will probably make slight adjustments as I go, since they may end up being "too easy" - will find out next July!

Or sooner, hopefully. ;)

NinetyFour

  • Magnum Stache
  • ******
  • Posts: 4534
  • Location: Southwestern US
  • 239 days until Freedom!
Re: Gauntlet: Long Term Net Worth Goals
« Reply #131 on: July 06, 2014, 08:10:22 AM »
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)
My Journal

Countdown to Freedom:  239 days

iris lily

  • Handlebar Stache
  • *****
  • Posts: 2344
Re: Gauntlet: Long Term Net Worth Goals
« Reply #132 on: July 06, 2014, 12:21:03 PM »
We hit the $2M mark for net worth this month and went out to dinner to celebrate. I ordered a glass of wine that was $25 and since this was a really good restaurant (and not pretentious) the wine really WAS great! Now I may seek out a bottle of it, it was a Silver Oak Cabernet. We've got about $1.5M in financial instruments. We are old and not retired--yet. but soon.  :)

Workinghard

  • Pencil Stache
  • ****
  • Posts: 637
Re: Gauntlet: Long Term Net Worth Goals
« Reply #133 on: July 06, 2014, 04:19:28 PM »
Congrats! I doubt if we'll ever hit 2m as I don't want to work that long. I'm not retired but I'm getting tired. Lol

We hit the $2M mark for net worth this month and went out to dinner to celebrate. I ordered a glass of wine that was $25 and since this was a really good restaurant (and not pretentious) the wine really WAS great! Now I may seek out a bottle of it, it was a Silver Oak Cabernet. We've got about $1.5M in financial instruments. We are old and not retired--yet. but soon.  :)

frogger

  • Stubble
  • **
  • Posts: 160
Re: Gauntlet: Long Term Net Worth Goals
« Reply #134 on: July 06, 2014, 07:38:06 PM »
I almost feel like my numbers don't belong here, but I was just figuring this out last night, so I might as well play.

Current NW: -$8000

Jan 2015: $0
July 2015: $15,000
July 2016: $35,000
July 2017: $55,000
July 2018: $85,000

Kind of a middle of the road estimate. Could be cake if things work out one way, or a real stretch if they work out another. We'll see where I am in January.

RyanHesson

  • 5 O'Clock Shadow
  • *
  • Posts: 69
Re: Gauntlet: Long Term Net Worth Goals
« Reply #135 on: July 07, 2014, 12:41:32 AM »
It's hard for me to set goals here, because really, my goals are "As much as possible." The other thing is that I can just increase risk to the level of the roulette table. I put 50K on a number and I have a 1/38 chance of being able to retire tomorrow. But, why not throw some number on here. I'm going to measure in Octobers because my birthday is in October.

July 1st, 2014: 50K
October 1st+between 0 and 30 days, 2014: 61K (24th birthday)
October 1st+, 2015: 113K (25th birthday)
October 1st+, 2016: 174K (26th birthday)
October 1st+, 2017: 243K (27th birthday)
October 1st+, 2018: 320K (28th birthday)
October 1st+, 2019: 410K (29th birthday)
October 1st+, 2020: 510K (30th birthday)

Some bad stuff happens along the way and I lose a good portion of that. But I retire October 1st, 2028, just before my 38th birthday. Or maybe some amazing stuff happens and I retire in a year. Who knows?

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #136 on: July 07, 2014, 09:42:46 AM »
It's hard for me to set goals here, because really, my goals are "As much as possible."

Well sure, but setting hard numbers and then seeing if you meet, exceed, or fall short of them can let you see if your goals and projections are realistic, which can be useful for future planning.  "As much as possible" isn't as useful, though I agree that it's the best goal.  :)

The other thing is that I can just increase risk to the level of the roulette table. I put 50K on a number and I have a 1/38 chance of being able to retire tomorrow.

Okay, but that doesn't increase your risk-adjusted amounts.  The idea should be to maximize your net worth/decrease your time to FI.  The highest probability of doing that is not gambling.  So you should set goals around the plan that gives you the greatest chance, not the one that gives you a longshot.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Cheddar Stacker

  • Magnum Stache
  • ******
  • Posts: 3751
  • Age: 39
  • Location: USA
Re: Gauntlet: Long Term Net Worth Goals
« Reply #137 on: July 07, 2014, 11:01:08 AM »
Current projections show about $800K on 40th b-day, so stretch goal is $1M by then. Need to get a bit more aggressive I guess.

My #1 long-term net worth goal is > $0 on date of death. It doesn't get more long-term than that for me. : )
Indecision may or may not be my problem.

RyanHesson

  • 5 O'Clock Shadow
  • *
  • Posts: 69
Re: Gauntlet: Long Term Net Worth Goals
« Reply #138 on: July 07, 2014, 12:45:24 PM »
Quote
Okay, but that doesn't increase your risk-adjusted amounts.  The idea should be to maximize your net worth/decrease your time to FI.  The highest probability of doing that is not gambling.  So you should set goals around the plan that gives you the greatest chance, not the one that gives you a longshot.

A gamble which gives you a 99% chance of a $1 gain and a 1% chance of a $200 loss is still a bad gamble, even though the chance of winning is high. And a gamble that gives me a 50% shot at $1M and a 50% shot of losing my current 50K and going 450K into debt isn't a good gamble either, even though the expected value is positive. Conversely, I'd take a gamble that gave me a 50% shot at gaining $1000 and 50% shot at losing $500, that's a wager I want to make. Though maybe I just don't know what "risk-adjusted amounts" means.


TJ79

  • 5 O'Clock Shadow
  • *
  • Posts: 17
Re: Gauntlet: Long Term Net Worth Goals
« Reply #139 on: July 07, 2014, 04:52:48 PM »
My NW Goals:

12/31/13: -71,000
07/01/14: 6,900 (current)
12/31/14: 42,000
12/31/15: 143,000
12/31/16: 241,000
12/31/17: 360,000


arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #140 on: July 07, 2014, 04:57:56 PM »
My NW Goals:

12/31/13: -71,000
07/01/14: 6,900 (current)
12/31/14: 42,000
12/31/15: 143,000
12/31/16: 241,000
12/31/17: 360,000

Would love to hear how you gained 78k NW in only 6 months!  (And why you think you'll only gain half that, 35k, in the next six.)  That's pretty badass!  :D
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

TJ79

  • 5 O'Clock Shadow
  • *
  • Posts: 17
Re: Gauntlet: Long Term Net Worth Goals
« Reply #141 on: July 07, 2014, 08:59:20 PM »
My NW Goals:

12/31/13: -71,000
07/01/14: 6,900 (current)
12/31/14: 42,000
12/31/15: 143,000
12/31/16: 241,000
12/31/17: 360,000

Would love to hear how you gained 78k NW in only 6 months!  (And why you think you'll only gain half that, 35k, in the next six.)  That's pretty badass!  :D

Not nearly as badass as it seems. It was mostly due to a better than average annual bonus and a small inheritance. Now it's back to grinding it out the hard way.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #142 on: July 07, 2014, 10:36:54 PM »
The discipline to apply it to your debt is pretty awesome. :D
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

monarda

  • Bristles
  • ***
  • Posts: 302
Re: Gauntlet: Long Term Net Worth Goals
« Reply #143 on: July 08, 2014, 12:16:24 AM »
Only just saw this thread...

I've included all accounts ($120K), plus equity in real estate investments ($410K), and primary residence ($90K)

Some goals considering only conservative growth, rental income, principal payments to mortgages, small amount of additional savings.  I will likely save more to add to these numbers, but my job outlook is hazy for 2015, so not counting on being able to save much (but maybe I won't worry about it)

2014  $620K
2016  $750K
2018  $900K

1M by 2020 (age 60), preferably sooner.

ReadyAimFired

  • 5 O'Clock Shadow
  • *
  • Posts: 23
Re: Gauntlet: Long Term Net Worth Goals
« Reply #144 on: July 08, 2014, 05:40:29 PM »
This is my very first post on this site (long time lurker) though I am a member of several other forums and some may recognize my name. I just wanted to put my $.02 in, though many of you would say to put those in an online savings acct they may be worth 10 bucks some day!!

Current net worth $575k
Our goal by end of year---$600k
End of 2015----$700k
By end of 2018---1,000,000 a number I never believed I would reach much less by the age of 44 and never making more than 68k. My DW also makes the same amount.  We save almost one entire salary per year and that total net worth includes NO homes. 1 pension plan, 1 Roth 457 plan, 1 401k, 2 roth iras, 1 taxable mutual fund, and cash holdings in online accts earning almost 1%.

Best of all.......ZERO ZERO ZERO debt!!!!!!!!!!!!!!! party dance, party dance...now to kick that dr pepper habit....ugh..

Thanks for what you guys/gals do on this website.  It is an inspiration.
« Last Edit: July 08, 2014, 05:42:20 PM by ReadyAimFired »
"Having been poor is no shame, but being ashamed of it, is."

Benjamin Franklin

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 25246
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #145 on: July 08, 2014, 05:48:20 PM »
Well done, RAF!
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Suit

  • Stubble
  • **
  • Posts: 200
Re: Gauntlet: Long Term Net Worth Goals
« Reply #146 on: July 16, 2014, 08:13:38 PM »
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

Absolutely!  If you weren't around at the time, or just never posted, feel free to chime in!  :D

Great, excited to join!

Current investments and cash: slightly over $96k
Student Loans: slightly over $127k

Goals:
100k investments and savings by end of July (I'll need the stock market to cooperate a bit!)
Positive net worth by my 30th birthday next July
200k investments and savings by July 2017

Today I hit 100k in investments and savings!!

Updated goals:
Positive net worth by next March 2015
200k in investment and savings by July 2016
1 mil in investments and savings by the end of 2025

ohyonghao

  • Pencil Stache
  • ****
  • Posts: 628
  • Age: 33
  • Location: Hillsboro, OR
    • OhYongHao Life Blog
Re: Gauntlet: Long Term Net Worth Goals
« Reply #147 on: July 17, 2014, 12:07:47 PM »
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

Absolutely!  If you weren't around at the time, or just never posted, feel free to chime in!  :D

Great, excited to join!

Current investments and cash: slightly over $96k
Student Loans: slightly over $127k

Goals:
100k investments and savings by end of July (I'll need the stock market to cooperate a bit!)
Positive net worth by my 30th birthday next July
200k investments and savings by July 2017

Today I hit 100k in investments and savings!!

Updated goals:
Positive net worth by next March 2015
200k in investment and savings by July 2016
1 mil in investments and savings by the end of 2025

Congratulations!  I joined another thread for the race from 10k-100k.  You could pop in there too, but sounds like you'd be out of there in no time.  Keep up the great work!

smalllife

  • Pencil Stache
  • ****
  • Posts: 948
Re: Gauntlet: Long Term Net Worth Goals
« Reply #148 on: July 17, 2014, 01:34:15 PM »
My long term goal is to have enough F-U leverage to work 20-30 hrs/week as soon as possible.  I'd then continue to save until I was completely FI in order to be more selective, take a sabbatical, volunteer for causes instead of part time work, etc.  I like the social aspects of work but not the 9-5 and limited vacation part.

That said (and a lot of this depends on whether I keep my current house as a rental, and what healthcare looks like), my long term goals

1.  Pay off family loan by 30, take that money and build taxable accounts.  At this point the house can become a profitable rental.
2.  Fully FI by 45, shooting for selective employment by 40. 

FU = 80k in taxable investments, enough for 3-5 years of expenses. 
FI w/ paid off mortgage = 325k
FI w/o paid off mortgage = 600k

The first goal is attainable, the second may happen sooner or later than current projections because 15 years is a lot to speculate from the beginning of a career.

On point for #1 and *may* be done early (that's on the back burner as the SO goes through grad school).
I think I might actually be ahead of target on #2, but keeping options open!

I hit a fun milestone last month - $100k in assets!  (technically it's a bit higher, but that figure only counts equity in the house rather than market value for extra motivation)  It's not net worth, just total assets, but it's a six figure number!
"Have nothing in your house that you do not know to be useful or believe to be beautiful" - William Morris

Cheddar Stacker

  • Magnum Stache
  • ******
  • Posts: 3751
  • Age: 39
  • Location: USA
Re: Gauntlet: Long Term Net Worth Goals
« Reply #149 on: July 17, 2014, 01:38:19 PM »
I hit a fun milestone last month - $100k in assets!  (technically it's a bit higher, but that figure only counts equity in the house rather than market value for extra motivation)  It's not net worth, just total assets, but it's a six figure number!

Congrats! Feels good to hit nice round numbers. Keep stackin.
Indecision may or may not be my problem.