Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 94227 times)

ohyonghao

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #150 on: July 18, 2014, 02:08:29 PM »
Congrats! Feels good to hit nice round numbers. Keep stackin.

Looks like you're about to hit a nice round number of posts!  I see you have 999 as of this writing.

jaizan

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #151 on: July 20, 2014, 03:38:42 PM »
Target is $1.54 million by January 2017.

We count in British pounds where I live, so that's 1 million.  Am currently on track.

RyanHesson

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #152 on: July 20, 2014, 05:05:23 PM »
Target is $1.54 million by January 2017.

We count in British pounds where I live, so that's 1 million.  Am currently on track.

The pound is $1.7088 or so at this moment. So your 1 million GBP will be about $1,708,800. Though who knows in 2017, but probably higher than $1.54 million.

Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #153 on: August 06, 2014, 01:46:56 PM »
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

Hope to be -$20k by the end of this year. We just moved/downsized soooooo we should make this goal...

0 net worth early 2014
+$20k net worth July 2014
+$60k by end of 2014

These are very very rounded off numbers. We haven't even been in our new rental a full month yet... And we moved from VA to HI, so i still have sticker shock at the vhcol...

Feels great to just put it in writing!! I've been so focused just on the debt number that i rarely look at the positive numbers..

Did not hit the end of year goal of -$20k... Only made it to -$29k...set your goals high, right??

1 year update...

Savings $80,613
Student loans -$67,363

Net worth $13,250

Didn't reach this goal either...but ainokea (i don't care) It feels great to be in the positive!!! Only ~$7k off this time ;-)

Thinking end of year will be more like ~$45k...but we shall see...
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ZiziPB

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #154 on: August 19, 2014, 07:21:19 AM »
I want to retire in 5 years at the age of 50.  I just pulled out my calculator and added it all up.  Current net worth is $632,000 (assuming restricted stock will vest as scheduled over next 3 years).  This includes equity in my current home (which I will sell at retirement) and my retirement apartment.

One year update, using the same methodology.
It has been a great year both in terms of my compensation and market gains. 

August 2013: ~$632,000
August 2014: ~$897,000

for an increase of $265,000, of which ~$161,500 were savings (including mortgage principal paydown and 401k match) and the rest being market gains.

ETA: I have assumed that the value of my current home and my retirement apartment have not changed from last year.
« Last Edit: August 19, 2014, 07:29:19 AM by ZiziPB »



Cheddar Stacker

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #155 on: August 19, 2014, 09:01:18 AM »
Wow ZiziPB! I think you will meet that 5 year goal. Very impressive.
Indecision may or may not be my problem.

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #156 on: August 19, 2014, 11:44:20 AM »
I want to retire in 5 years at the age of 50.  I just pulled out my calculator and added it all up.  Current net worth is $632,000 (assuming restricted stock will vest as scheduled over next 3 years).  This includes equity in my current home (which I will sell at retirement) and my retirement apartment.

One year update, using the same methodology.
It has been a great year both in terms of my compensation and market gains. 

August 2013: ~$632,000
August 2014: ~$897,000

for an increase of $265,000, of which ~$161,500 were savings (including mortgage principal paydown and 401k match) and the rest being market gains.

ETA: I have assumed that the value of my current home and my retirement apartment have not changed from last year.

Awesome!  Well done!
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ZiziPB

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #157 on: August 19, 2014, 06:20:20 PM »
Thanks, Cheddar Stacker and arebelspy.  I am obviously blessed with a great salary, but my bonus this year was also much better than I expected.  ER is on the horizon....



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Re: Gauntlet: Long Term Net Worth Goals
« Reply #158 on: August 20, 2014, 10:27:42 AM »
I love longer term threads like this where you can see what you or others thought a year or years before.  Big congratz to all that have kept up and are making progress towards their goals. 

My own goal posted 13 months ago:
Currently just over $700k. Goal is $1M in 3 years.
[snip]

I cut my long list of qualifiers but the big one was no factoring in an expectation of market returns.  Well thanks to the roaring market and continued aggressive savings I hit my goal in about 1 year rather than 3...  I was pretty stoked when I hit it last month but now its business as usual.  This is not enough for me to FIRE and live in the high cost of living area I want to live near my family. 

My new stretch goal is to hit $1.5M in 2.5 years.  This is a way bigger stretch and requires continued solid returns in my portfolio of which I am pretty skeptical. 

ZiziPB

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #159 on: August 20, 2014, 12:49:20 PM »
@The_Dude, congratulations!  That is fantastic!  I hope to join you in the second comma club in the next 6 -12 months.



Dicey

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #160 on: August 20, 2014, 01:42:37 PM »
If you're FI, that means you have a choice on whether or not to give a crap about business jargon like "Stretch Goals".  After all, if you come up short on a stretch goal are you going to claw back your bonus?

Our net worth goal:  well, we don't really have one.

I love this, Nords! Somehow while I was out enjoying life, I missed this thread.

During my working years, I calculated my net worth monthly and posted it on my home office wall using brightly colored sticky notes. (Who needs Mint, I ask you?) Recently, at FIRE plus almost 2 years, I found the rainbow stack and moved the numbers to a spreadsheet. What struck me was how fast things add up once there's something compound-able in your investment accounts. So the point of this post is to say don't be discouraged if you're far away from FIRE. If you keep plugging at it, it will happen.
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Workinghard

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #161 on: August 20, 2014, 03:16:21 PM »
@The_Dude, congratulations!  That is fantastic!  I hope to join you in the second comma club in the next 6 -12 months.

I'm aiming for 3-6 months, but alas, it will be NW not liquid. One goal is in reach and another looms on the horizon.  :p

Freedom2016

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #162 on: August 21, 2014, 04:35:49 PM »
Fun exercise! Windfall earnings this year have made a huge difference (June 2013 NW was $240,000 and June 2014 NW was $671,000). We expect to see significant gains through the end of 2014, but then we'll be back to more "normal" earnings. I think we can get to $2M in 9 years.

Current NW: $754,000
Dec 2014 NW: $950,000
Dec 2017 NW: $1,250,000
Dec 2020 NW: $1,600,000
Dec 2023 NW: $2,000,000

Note that my NW calculations include house value and mortgage.

Nords

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #163 on: August 23, 2014, 10:18:48 PM »
If you're FI, that means you have a choice on whether or not to give a crap about business jargon like "Stretch Goals".  After all, if you come up short on a stretch goal are you going to claw back your bonus?

Our net worth goal:  well, we don't really have one.

I love this, Nords! Somehow while I was out enjoying life, I missed this thread.

During my working years, I calculated my net worth monthly and posted it on my home office wall using brightly colored sticky notes. (Who needs Mint, I ask you?) Recently, at FIRE plus almost 2 years, I found the rainbow stack and moved the numbers to a spreadsheet. What struck me was how fast things add up once there's something compound-able in your investment accounts. So the point of this post is to say don't be discouraged if you're far away from FIRE. If you keep plugging at it, it will happen.
Thanks!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #164 on: August 23, 2014, 11:07:56 PM »
I just passed the 80k mark! First goal hit. Short term goal is to get to 100k by the end of the year.

I don't know about my goals for the next year as some adventures are on the horizon, however I think i would like to be at 200k by the end of 2016.

I currently save a bit over 50% of my pay/$2500 per month so getting the first bit is just about sticking to the plan. The stretch bit of my plan will be to get what I have working a little bit harder for me, and any time off I want to take.

Better go chuck this in my journal so i keep track of it.

Good Thread.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #165 on: August 26, 2014, 10:34:44 PM »
Late to the game, but I will jump in as I'm bad at keeping track of things and I'd love to have a post to look back upon in 1, 2, and 5 years.

Current: $217k
Jan 1, 2015: $230k (will take a little bit of returns and/or stronger saving)
Jan 1, 2016: $275k
Jan 1, 2017: $325k
Jan 1, 2018: $385k
Jan 1, 2019: $450k

If autopilot-type saving (IRA/401k) is ~$25k/year, should I be throwing down stronger goals than this?

Cheddar Stacker

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #166 on: August 27, 2014, 08:27:06 AM »
Late to the game, but I will jump in as I'm bad at keeping track of things and I'd love to have a post to look back upon in 1, 2, and 5 years.

Current: $217k
Jan 1, 2015: $230k (will take a little bit of returns and/or stronger saving)
Jan 1, 2016: $275k
Jan 1, 2017: $325k
Jan 1, 2018: $385k
Jan 1, 2019: $450k

If autopilot-type saving (IRA/401k) is ~$25k/year, should I be throwing down stronger goals than this?

That's a question you should be asking yourself, not us, unless you want to provide a lot more information. For all I know you have 6 kids and make $47K/yr. If that's the case putting $25k/yr into investments is very impressive.
Indecision may or may not be my problem.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #167 on: August 27, 2014, 11:48:54 AM »
Cheddar,

Thanks for your reply. Here's some more fidelity:

Salary is $105k, with the possibility of my spouse making $35k (but we will be geographically separated from Nov-May). No kids (will probably wait 3 years and have 2 of them) and I'm 30, while she is 28. I'll be going to Africa for my job (the aforementioned Nov-May) and shouldn't spend much at all there. After that we should be moving somewhere. I didn't give budgetary details because they will be entirely up in the air until after next summer! 10% goes to charity, effective tax rate has been around 15% (I think, but we are newlyweds so I have no clue how much less that will be). We are also putting away ~$1000/month for a combination of a down payment & car replacement savings.
« Last Edit: August 27, 2014, 11:52:49 AM by NICE! »

Cheddar Stacker

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #168 on: August 27, 2014, 12:10:03 PM »
Then I would make more aggressive goals before having kids, but that's just me and based on my own experience with 2 young ones right now.

Also, checkout T-Rex's journal. She is currently deployed overseas and made some very aggressive savings goals while she was away. It might be harder for you if you share your finances (she doesn't) but it could be a good motivational read for you.
Indecision may or may not be my problem.

FrozenBits

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #169 on: August 27, 2014, 12:16:39 PM »
Cheddar,

Thanks for your reply. Here's some more fidelity:

Salary is $105k, with the possibility of my spouse making $35k (but we will be geographically separated from Nov-May). No kids (will probably wait 3 years and have 2 of them) and I'm 30, while she is 28. I'll be going to Africa for my job (the aforementioned Nov-May) and shouldn't spend much at all there. After that we should be moving somewhere. I didn't give budgetary details because they will be entirely up in the air until after next summer! 10% goes to charity, effective tax rate has been around 15% (I think, but we are newlyweds so I have no clue how much less that will be). We are also putting away ~$1000/month for a combination of a down payment & car replacement savings.

Well you have the potential to put away a heck of a lot more than 25k per year...  But without more details to your budget its hard to tell you where you could cut or how much you could be saving.  If you're in a reasonable COL area you should be able to put 50% of your yearly income into investments in my opinion.  But again, all of this is highly dependent on many factors of your budget that I don't know.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #170 on: August 28, 2014, 04:12:28 PM »
Fun thread idea, will have to remember to come back to update in the future.

Jan 1 2013: -10k net worth, 15k non-mortgage debt (school loans, old medical debt)
June 1 2013: 7k net worth, finally reduced non-mortgage debt to 0
January 1 2014: 20k net worth
Aug 28, 2014: 60k net worth

Goals:

Jan 1, 2015: 75k net worth
Jan 1, 2016: 150k net worth
Jan 1, 2017: 235k net worth
Jan 1, 2018: 325k net worth
Jan 1, 2019: 425k net worth
Jan 1, 2020: 550k net worth
Jan 1, 2021: 680k net worth, should be mortgage free
Jan 1: 2022: 830k net worth
Jan 1: 2023: 1MM net worth and FI around age 42 (not sure if I'll retire, but will likely try to reduce hours significantly)

This is individual net worth, the wife and I keep finances separate.

gwines

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #171 on: September 07, 2014, 09:46:11 PM »
Currently @~83K

100K by 2/15/2015
200K by 10/15/2016
250K by 8/1/2018
375K by 8/1/2019 --> personal retirement (assuming no family)
550K by 1/1/2020 --> cushy personal retirement
750K by 1/1/2021 --> Family retirement (if I have one)

I hope the community keeps me honest on this one and sticking to the goals.

Primm

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #172 on: September 07, 2014, 09:49:39 PM »
I just passed the $149,000 mark! I know I'm over the line when I add in my superannuation growth numbers for September already, but my personal policy is to update investment-type accounts on the last day of the month.

It's driving me nuts... ;)

Less

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #173 on: September 08, 2014, 02:55:00 AM »
Hey gwines, I am at a very similar position. Aiming for 100k in January next year. Seems to be a cool point as it is starting to get a bit of momentum of its own. 

Any how I will be watching with interest!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #174 on: December 29, 2014, 10:58:58 AM »
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

It's that time of year again!

I happened to log in to Mint again and found that I hit 100k NW this week which puts me about 25k ahead of my goal for January. I'm using numbers in Mint as my milestones even though I now think Mint overvalues my house by about 5-7% and doesn't include my HSA's (stupid employer plan). I think the final goal in March is a little bit of a stretch even without a possible market downturn between now and then so I'm going to just up the other goals to match up to it better:

Jan 2015 Actual: $105k NW, $68k non-mortgage debt
Jan 2016 Goal: $150k NW, $40k debt
Jan 2017 Goal: $220k NW, $15k debt
March 2017 Goal: $250k NW, $0k debt

Granted this might all change because this year I got a job I can work remotely from anywhere and my wife and I are dreaming about fulltime RVing while working so the numbers might change a lot between now and then.
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BBub

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #175 on: December 29, 2014, 01:33:23 PM »
These projections are for liquid assets only.  This maps out every year between now and FI.  A little lumpiness in the return/savings estimates, but it's close enough.  Will be interested to come back and check progress over the years!

Current: $155k

Dec 31, 2015: $275k
Dec 31, 2016: $400k
Dec 31, 2017: $500k
Dec 31, 2018: $650k
Dec 31, 2019: $800k
Dec 31, 2020: $1M
Dec 31, 2021: $1.1M
Dec 31, 2022: 1.25M (FI)

Pooperman

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #176 on: December 29, 2014, 04:20:29 PM »
I'll play. Right now:

Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

If I kept working and kept saving, I'd reach retirement age with about 15M. Far too much. Also, according to my 401k calculator, I should have enough to retire on by 45 according to Monte Carlo, so traditional shit agrees with me. Yay!

kpd905

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #177 on: December 29, 2014, 07:47:11 PM »
A medium term goal I thought of recently was to try to get a $250,000 net worth when I am 30 (so before 31st bday).

Right now we are at $70k at about age 27.25. 

Calculators tell me that $3500/month with a 5% real return will get me there.  We'll see what happens.
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Re: Gauntlet: Long Term Net Worth Goals
« Reply #178 on: December 29, 2014, 08:24:03 PM »
The goals that I have in my current model are:

2014 $1.34M
2015 $1.56M
2016 $1.81M
2017 $2.09M
2018 $2.38M
2019 $2.71M
2020 $3.08M

Stretch goal is to move that $3.08M closer by a few years.

Has it been 6 months already?  Pretty much on track.

Updated goal numbers:

2014 $1.36M (actual)
2015 $1.59M
2016 $1.84M
2017 $2.12M
2018 $2.44M
2019 $2.79M
2020 $3.17M

NICE!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #179 on: December 30, 2014, 03:17:45 AM »
Based upon inputs here, the potential of a possibly high-paying overseas gig, and the fact that we beat my 2014 goal from just a few months ago despite lower market returns (also due to some unexpected income), I'm making our goals more aggressive. These are definitely stretch goals - how do you guys feel about setting ones that seem like a low % success rate? I think I like the motivation, although I could be relying on market returns too much.

Thanks for the facepunch, Cheddar and others.

Jan 1, 2015: $235k
Jan 1, 2016: $300k
Jan 1, 2017: $375k
Jan 1, 2018: $475k
Jan 1, 2019: $600k (I view this as a low FI #, one I could achieve if I really wanted to stop working.)
« Last Edit: December 30, 2014, 03:19:37 AM by NICE! »

marty998

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #180 on: December 30, 2014, 03:41:25 AM »
Ok I'll play

Dec'14   $534k
Dec'15   $650k
Dec'16   $775k
Dec'17   $950k
Dec'18   $1100k

Will probably not be enough for FI given more than half will be trapped in housing. Maybe 3 years after that at $1,700k I could make it work.

(Kick me off the forum for the wahh wahh complainypants in this post :P  )

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #181 on: December 30, 2014, 08:26:24 AM »
(Kick me off the forum for the wahh wahh complainypants in this post :P  )

No need to kick you off the forum. Just sell that damn house and you'll be fine. Buy a van and go tour the Island.
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Re: Gauntlet: Long Term Net Worth Goals
« Reply #182 on: December 30, 2014, 08:32:50 AM »
We just hit 6 figures in investible assets last week (retirement account minus debts).  My general net worth goal from here on out is to increase our net worth more each year than the year before.  Obviously the way the stock market goes will have a large impact on the possiblilty of that happening, so my more specific goals are reducing debt by more than $1K a month and investing at least 15% of gross income in tax advantaged accounts, between those two things we had a savings rate in 2012 of 44% of net and this year should be even higher.

Ultimately we want a passive income of $40K, which is plenty for us to live very comfortably in our paid for house.
Not surprisingly our circumstances have changed since 1.5 years ago.  We're at $175K investible assets now, but our savings rate hasn't reached 44% this year, more like 30%.  Still going in the right direction, just slow for the nonce.

Dicey

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #183 on: December 30, 2014, 09:45:35 AM »
These are definitely stretch goals - how do you guys feel about setting ones that seem like a low % success rate?
Better to aim high and get close than the reverse. I'm glad to see you have upped your savings goals. May I suggest that you treat your African posting as a game to see how much you can save? The bigger nest egg you can amass early, the less you will have to save to reach your goals. That's the only measure of success that matters in this particular race.
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Cookie78

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #184 on: December 30, 2014, 09:52:24 AM »
Dec 31, 2018 - $750,000

NICE!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #185 on: December 30, 2014, 12:22:05 PM »
Better to aim high and get close than the reverse. I'm glad to see you have upped your savings goals. May I suggest that you treat your African posting as a game to see how much you can save? The bigger nest egg you can amass early, the less you will have to save to reach your goals. That's the only measure of success that matters in this particular race.

Well said, Diane. We will treat this time as a savings challenge.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #186 on: December 30, 2014, 02:50:09 PM »
I'm very new here, but am learning so much and loving it!

Currently, our net worth (including my husband) is 88,000.

Annual income : ~70K (varies every year becausee hubby is a farmer)

Our goals are:
2015:150,000
2016: 210,000
2017:250,000

Because we are just starting our plan for RE, we are hoping these goals are achievable. Our long term goals are to be FI by the time we are 35.

NICE!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #187 on: December 30, 2014, 03:04:54 PM »
Our goals are:
2015:150,000
2016: 210,000
2017:250,000

Why are you expecting a 60k change between '15 & '16, but only a 40k change between '16 and '17? Does this have to do with crop cycling?

ohyonghao

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #188 on: December 31, 2014, 09:46:44 PM »
Quote from: OhYongHao
2014: $60,000 (+24,000)
2015: $90,000 (+30,000)
2016: $125,000 (+35,000)
2017: $160,000 (+35,000)
2018: $200,000 (+40,000)
2019: $250,000 (+50,000)
2020: $300,000 (+50,000) Milestone 1
2014: $77,000 (+37,000)
2015: $117,000 (+40,000)
2016: $157,000 (+40,000)
2017: $200,000 (+43,000)
2018: $245,000 (+45,000)
2019: $295,000 (+50,000) Milestone 1
2020: $350,000 (+55,000)

We did much better this year than I had expected, so I've changed the goals slightly.  With the adjustment our first milestone should be hit in 2019 instead of 2020, putting it merely 5 years away.

NinetyFour

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #189 on: December 31, 2014, 10:09:06 PM »
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.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.
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arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #190 on: January 01, 2015, 11:09:30 AM »
So much badassity in this thread.  I love it.

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."

oldtoyota

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #191 on: January 02, 2015, 10:57:07 AM »
So much badassity in this thread.  I love it.
Agreed! Happy new year!

Abe

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #192 on: January 02, 2015, 11:36:42 AM »
Current net worth (not including real estate) is $180,000. For the next 4 years we expect to save about $50,000 per year, then about $200k per year:

2016 Jan: $240k
2017: $300k
2018: $360k
2019: $430k
2020: $650k
and so on, plan to retire in 2040

gaja

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #193 on: January 02, 2015, 12:58:31 PM »
Current NW: -$400,000
1/1 2016:       -$80,000
1/1 2017:       -$50,000
1/1 2018:        $10,000
1/1 2019:        $100,000

The big chunk in 2015 is mainly due to downsizing in house, and upgrading in paycheck. Our goal is to get rid of all debt within 3 years, and after that build wealth.
Travelling southern Norway, Iceland and the Faroes in an electric car: http://travelelectric.blogspot.no/

webguy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #194 on: January 02, 2015, 01:10:26 PM »
I want to join in and set myself some public goals so that I'm held accountable.  My goals are:

Current NW:  $420k
Jan 1 2016:  $650k
Jan 1 2017:  $950k
Jan 1 2018:  $1.1M

Vilgan

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #195 on: January 02, 2015, 06:03:34 PM »
Fun thread idea, will have to remember to come back to update in the future.

Jan 1 2013: -10k net worth, 15k non-mortgage debt (school loans, old medical debt)
June 1 2013: 7k net worth, finally reduced non-mortgage debt to 0
January 1 2014: 20k net worth
Aug 28, 2014: 60k net worth

Goals:

Jan 1, 2015: 75k net worth
Jan 1, 2016: 150k net worth
Jan 1, 2017: 235k net worth
Jan 1, 2018: 325k net worth
Jan 1, 2019: 425k net worth
Jan 1, 2020: 550k net worth
Jan 1, 2021: 680k net worth, should be mortgage free
Jan 1: 2022: 830k net worth
Jan 1: 2023: 1MM net worth and FI around age 42 (not sure if I'll retire, but will likely try to reduce hours significantly)

This is individual net worth, the wife and I keep finances separate.

Jan 1, 2015: 80k net worth, so hit that goal. Not going to adjust future goals upward though, increasing it by 70k in the next year still feels very aggressive.
Next stop: Jan 1, 2016. Will hopefully be at 150k then, and am really looking forward to breaking the 100k barrier in the coming months since it wasn't that long ago that my NW was negative.

Refinanced the mortgage to 3.0% so not sure if I care about going mortgage free anymore. Will probably just make the minimum payment for the foreseeable future which would move the mortgage free goal back from 2021 to 2030.
« Last Edit: January 02, 2015, 06:05:36 PM by Vilgan »

NinetyFour

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #196 on: January 04, 2015, 11:49:10 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.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.

I'm not sure where I came up with those previous goals.  Here is my current prediction:

Current NW:  $480,507
January 2016: $570,000
January 2017: $670,000
January 2018: $779,000
July 2018:  $840,000 (and hopefully retirement, as I will hopefully have over $523K free and clear)
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Countdown to Freedom:  213 days; 25 weeks of classes; 75 days of classes

Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #197 on: January 05, 2015, 12:36:28 AM »
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

0 net worth early 2014
+$20k net worth July 2014
+$60k by end of 2014

1/1/2015: $55k
1/1/2016: $105k
1/1/2017: $160k
1/1/2018: $220k
1/1/2019: $280k
1/1/2020: $350k (husband will retire from active duty military in 2020 or 2021)
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steveo

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #198 on: January 05, 2015, 02:55:55 AM »
I don't really track net worth because my net worth is significantly higher than what I consider my FI asset level. I own a house with a mortgage that is probably now worth close to $1 million. I don't include the house value in my FI asset level as I have to live somewhere and if we are retired and for whatever reason money becomes a problem we can sell the house and downsize significantly or move to another area. A $1 million house where I live is far from anything that special as well.

End of 2015
1. No debt which consists solely of the mortgage (we might not make this but we will be close)
2. Super - $200k. This is assets that we can't use until we are about 65. We already have this amount but I couldn't be bothered to create a target here.
End of 2016
1. $100k in non-super assets. This will be really tough.
End of 2017
1. $200k in non-super assets. Again tough.
End of 2018
1. $300k in non-super assets. Again tough.
End of 2019
1. $400k in non-super assets. Again tough.
2. Super say $300k.

=> The allocation between super and non-super may be a little different but hopefully we are at about those numbers.

At this point I think we will work less and take more vacation time for the next 5 years as another buffer. If we choose to quit at any point it should be okay but we will have less to spend in retirement.

All of this is assuming we keep our jobs as is and the markets achieve 0% returns. Anything can happen over the course of 5 years so I guess we will just have to wait and see.
« Last Edit: January 05, 2015, 03:00:09 AM by steveo »

BriArrange

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #199 on: January 12, 2015, 11:40:59 AM »
Our goals are:
2015:150,000
2016: 210,000
2017:250,000

Why are you expecting a 60k change between '15 & '16, but only a 40k change between '16 and '17? Does this have to do with crop cycling?

Nice!: Yes, that is exactly it. This past year was a better year than normal on the farm, that is why there is the difference. But - from 16'-17' we stayed on the conservitive side when predicting how it might do.  Great catch!