Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 85271 times)

NICE!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #200 on: January 12, 2015, 12:10:20 PM »
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!

Even a blind squirrel finds a nut every once in awhile.

Cookie78

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #201 on: January 12, 2015, 09:39:52 PM »
Not really net worth goals, but my investment goals are:

Current $45k
Jan 2016 $68k
Jan 2017 $100k
Jan 2018 $142k
Jan 2019 $195k

Hopefully in 2018 I'll sell my rental property (depends on market) and blow my 2019 goals out of the water. :p
« Last Edit: January 12, 2015, 09:48:10 PM by Cookie78 »

PerpetualWanderlust

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #202 on: January 13, 2015, 12:43:36 PM »
Now:         $72,000
Jan. 2016:  $130,000
Jan. 2017:  $200,000
Jan. 2018:  $270,000
Jan. 2019:  $340,000
Jan. 2020:  $410,000
Jan. 2021:  $480,000

That's a fairly conservative estimate based on what I think my investments will do. Then I will most likely try to move towards part-time work.

andy85

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #203 on: January 13, 2015, 01:40:05 PM »
Posting for my future self

Current NW is about $32k. This year wont see a huge increase as i liquidate most of my savings to buy a house. I'm hoping the remaining years i am underestimating my contributions and the market performance. I also hope to get into landlording a little in the next few years.

goal/stretch goal
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k

2Birds1Stone

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #204 on: January 13, 2015, 07:21:18 PM »
Late to the party but here are my annual goals to FIRE

Start of
2015 - 105k
2016 - 135k
2017 - 170k
2018 - 210k
2019 - 255k
2020 - 305k
2021 - 360k
2022 - 420k
2023 - 485k
2024 - 555k
2025 - 630k
2026 - 710k
2027 - 795k
2028 - 885k
2029 - 1 Million (FIRE!! @ 42 years old)
"A small house can hold as much happiness as a big one." - Fortune Cookie

33 Months till FIRE - Stop by, or stay a while.....
https://forum.mrmoneymustache.com/journals/fire-by-thirty-five-chronicles-36-months-till-sabbatical!/

2Birds1Stone

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #205 on: January 13, 2015, 07:24:52 PM »
What is great too, as of current expenses I would be FI by age 38 =)
"A small house can hold as much happiness as a big one." - Fortune Cookie

33 Months till FIRE - Stop by, or stay a while.....
https://forum.mrmoneymustache.com/journals/fire-by-thirty-five-chronicles-36-months-till-sabbatical!/

Davids

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #206 on: January 15, 2015, 08:01:08 PM »
Just to keep numbers exact and be conservative.

Jan 2015: $608K
Jan 2016: $700K
Jan 2017: $800K
Jan 2018: $900K
Jan 2019: $1M (Debt free due to paid off Mortgage at this point)
Jan 2020: $1.1M
Jan 2021: $1.2M
Jan 2022: $1.3M (may FIRE at that point - Age 40)


dragoncar

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #207 on: January 15, 2015, 08:19:40 PM »
Current NW: $450k (down around 30k due to the stoooopid PP performance... grrr... ok I'll stop)

I consider this FI as in I could easily live on this indefinitely... just not in my current city (SF).

Adding around 100k/year. 

Target NW: 1m (I refuse to use MM because that makes me think of "mega millions!!!!")

This would nominally take 5 more years.  I chose it just because it's a nice round number that is way above my actual needs, but it's good to buffer against the unknown.  Problem is, there will come a time when I'd probably have to leave within a year.  At the tail end of "within a year," I'd hope to have around 700k at age 35, which was my original goal.  My current living situation requires around 500k in capital, plus I'd need to eat.  I'd have around $666/mo for food and other basic living expenses, and I could take odd jobs or freelance for "fun money".

I could also take another job somewhere else for a few more years and shoot for 1m by age 40.  By that time, I could be married, I could have kids... who knows?  I guess that's why we emphasize flexibility around here... I'm sure it will work out but I really don't know when I'll pull the trigger... I just know it isn't right now.

edit:  OK, so my stretch goal is 1 m at age 35 (very loosely defined as before I turn 36) -- i.e. double my net worth in 3 years.  300k can come from my current savings trajectory, leaving a 200k shortfall, which is $67k/year.  I could attain this level bonus by working 1000 extra hours each year (19 hours per week... or perhaps 10 hours every saturday and sunday).  Possible but not likely.  On the other hand, I could attain an 11% CAGR in my investments.  Also possible, but not likely.  Some combination of the above?  That's why they call it a stretch goal.

1.5 years later I'm at $780k.  Had a nice increase from investment property, not sure it's repeatable in this market.  PP recovered in 2014, although long term performance isn't great.  Going part time and planning to coast up to $1 million for "safety".  Best case, I'll love working part time and never need to retire.

Stretch goal- dec 2015 $1 million (I would only need a 15% return plus savings!)

Realistic goal
2016 - 900k
2017 - 1m
2018 - 1.1 m
2019 - 1.3 m
2020 - 1.5 m, retire at 40 woohoo!!!!

I'm not counting my wife who is at $0.  Otherwise divide my numbers in two and double the gainz.  Thinking $2m for the both of us is ridiculously generous and yet achievable.

sol

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #208 on: January 16, 2015, 11:35:13 PM »
The more of this thread I read, the more I think the long term net worth challenge should be to minimize it.  Like any schmuck with a decent job can save 50% and work for 40 years and end up a multimillionaire.  That's not even a challenge.

But deliberately limiting your net worth because you know you don't need more money?  Pulling the trigger on early retirement at age 30 with only $450,000 in the bank?  That's a challenge.  It requires a certain intimate familiarity with your real spending patterns, a willingness to make sacrifices or find more income in the event of a downturn, confidence in your asset allocation, and balls of steel. 

I give much more respect to the family of six that FIREs on $500k than I do to the unmarried investment banker who punches out with "only" 2 million instead of the 7 he was originally planning on.  Seriously, which of those people do you think is more badass?

Otherwise, this gauntlet is just "who has the highest paying job and can endure doing it the longest?" and that doesn't really seem in line with what we're all trying to accomplish here.  Namely, getting out from under our jobs.

steveo

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #209 on: January 17, 2015, 01:41:41 AM »
The more of this thread I read, the more I think the long term net worth challenge should be to minimize it.  Like any schmuck with a decent job can save 50% and work for 40 years and end up a multimillionaire.  That's not even a challenge.

I still think its a challenge to save 50% of your income if you are the average consumer.

In stating that I think you do need to minimize it a little otherwise you will just keep on working.

Seriously, which of those people do you think is more badass?

I don't care what is badass because I care about getting to FIRE for me personally. I don't want to RE on too small a stash and have my kids support me when I'm older.

Otherwise, this gauntlet is just "who has the highest paying job and can endure doing it the longest?" and that doesn't really seem in line with what we're all trying to accomplish here.  Namely, getting out from under our jobs.

I can also see some issues with this gauntlet because RE is in my opinion more about minimizing expenses rather than having the biggest stash. In stating that I assume that there are gauntlets out there about minmizing expenses.
« Last Edit: January 17, 2015, 02:05:55 AM by steveo »

NICE!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #210 on: January 17, 2015, 03:45:55 AM »
I disagree, sol. I save around 50% and give 10% and consider it a challenge...I'm nowhere near as badass on the spending side.

dragoncar

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #211 on: January 17, 2015, 10:47:16 AM »
The more of this thread I read, the more I think the long term net worth challenge should be to minimize it.  Like any schmuck with a decent job can save 50% and work for 40 years and end up a multimillionaire.  That's not even a challenge.

But deliberately limiting your net worth because you know you don't need more money?  Pulling the trigger on early retirement at age 30 with only $450,000 in the bank?  That's a challenge.  It requires a certain intimate familiarity with your real spending patterns, a willingness to make sacrifices or find more income in the event of a downturn, confidence in your asset allocation, and balls of steel. 

I give much more respect to the family of six that FIREs on $500k than I do to the unmarried investment banker who punches out with "only" 2 million instead of the 7 he was originally planning on.  Seriously, which of those people do you think is more badass?

Otherwise, this gauntlet is just "who has the highest paying job and can endure doing it the longest?" and that doesn't really seem in line with what we're all trying to accomplish here.  Namely, getting out from under our jobs.

Lol I guess that's directed at me but I agree with you.  Here are my long te net worth goals:

2020 - 1.5 million
2025 - 2.5 million
2030 - 4 million
2035 - 7 million
2040 - 10 million
2045 - retire early at 65 with 15 million.  I'm a frugal badass!

MoneyRx

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #212 on: February 14, 2015, 11:44:53 AM »
Had this written out for a little while, but wanted to make it more permanent and have a place to check on my progress.
Recent grad, finishing a lower paying residency half way through 2015 and will be expecting a 6 figure income starting in June/July. 10 year plan, very rough estimate and not assuming pay increases/pay decreases(possibly coming in my field!). Will update as needed.

Today: -17k
End of:
2015: 15k
2016: 70k
2017: 135k
2018: 215k
2019: 295k
2020: 385k
2021: 480k
2022: 585k
2023: 700k
2024: 825k
2025: 960k (FIRE)

Suit

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #213 on: February 18, 2015, 06:57:04 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

I hit positive net worth today! A month ahead of schedule!

FrozenBits

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #214 on: February 18, 2015, 11:28:39 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

I hit positive net worth today! A month ahead of schedule!

Congrats! You already have a pretty nice investment stache as well!

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #215 on: February 19, 2015, 07:34:05 AM »
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

I hit positive net worth today! A month ahead of schedule!

Nice!  Positive net worth is the first step. I like how you first posted the goal to be done July 2015, then updated to March 2015, and actually completed in February 2015. That's pretty badass.
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."

beege

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #216 on: May 31, 2015, 12:40:32 PM »

(Current - June 2014) - 429K
1 Year (June 2015) - 600K
2 Years (June 2016) - 800K
3 Years (June 2017) - 1MM


So June 2015 is right around the corner and I just did our finances for the month. Year 1 goal achieved (605K)! Getting to work on next year's goal now...

With all our aggressive spending reduction, it may not be necessary to make it to 1MM. We'll see how it looks next year.
FIRE class of 2019

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #217 on: May 31, 2015, 01:01:39 PM »

(Current - June 2014) - 429K
1 Year (June 2015) - 600K
2 Years (June 2016) - 800K
3 Years (June 2017) - 1MM


So June 2015 is right around the corner and I just did our finances for the month. Year 1 goal achieved (605K)! Getting to work on next year's goal now...

With all our aggressive spending reduction, it may not be necessary to make it to 1MM. We'll see how it looks next year.

Nice work!  It's amazing how frequent setting goals and achieving them occurs on these forums.  Wish there was more of that out in the world.
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."

Insanity

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #218 on: May 31, 2015, 05:16:46 PM »
Good job!

FrozenBits

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #219 on: June 01, 2015, 10:58:07 AM »
I'll join!  I don't have a very long track record for savings, because my wife and I are still fairly young (20 & 24), so my goals may be way off but here it goes.


Current NW = 80k

January 2015: $100k
January 2016: $150k
January 2017: $210k

January 2015: $100k - Done
January 2016: $150k - Done
January 2017: $210k


Current NW is at 152k as of the end of May.

I think I may need to revise my goals a little bit. :)

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #220 on: June 01, 2015, 12:03:12 PM »
Wow, being over 6 months ahead and having to set more aggressive goals?  Bad ass!
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."

Ottawa

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #221 on: June 01, 2015, 02:18:14 PM »
Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M

End 2014 = 1.15M
End 2015 = 1.32M
End 2016 = 1.49M
end 2017 = 1.66M

However FIRE will be based on liquid portfolio...when it reaches 1 M hopefully at age 45
Currently 430-50k child education = 380k

End 2014 = 500k
End 2015 = 675k
End 2016= 863k
End 2017= 980k

Inspired by StudentStasher's badass progress, checked our progress.  Made the 2015 goal. Current NW 560K. Hoping to slightly overshoot 2015 goal...
Signing up for Tangerine Bank?  Let's both earn some cash!  Here is my Tangerine Key: 43684467S1  Cheers.

Cheddar Stacker

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #222 on: June 01, 2015, 02:37:22 PM »
Congrats to all those meeting/exceeding goals. Impressive.

My #1 long-term net worth goal is > $0 on date of death.

I'm still on pace and progressing nicely.
Indecision may or may not be my problem.

CupcakeGuru

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #223 on: June 05, 2015, 11:53:13 AM »

I love the idea of having somewhere to look back in a couple of years.

Here's mine and Mr. Cupcakes NW goal at year end. It does not include the house.
2015: 523k
2016: 600k
2017: 683k
2018: 773k
2019: 870k
2020: 974k
2021: 1,086k
2022: 1,205k

FrozenBits

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #224 on: June 05, 2015, 01:10:12 PM »
So I revised my long term goals and calculated out all the way to FIRE.


Date       Added Per Year       Total After Market Returns (Inflation Adjusted)

Start          $40,000      
Jan-15       $60,000                $106,700          [Done!]
Jan-16       $60,000                $177,869          [Currently at 153k]
Jan-17       $65,000                $259,141
Jan-18       $65,000                $345,859
Jan-19       $70,000                $443,721
Jan-20       $70,000                $548,140
Jan-21       $80,000                $670,226
Jan-22       $80,000                $800,491
Jan-23       $90,000                $950,154
Jan-24       $90,000                $1,109,844
Jan-25       $100,000              $1,290,904



gecko10x

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #225 on: June 16, 2015, 07:53:31 AM »

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.

And, it's been another year- wow!

My 2015 goal was $185k, which has been achieved.

My current targets are:
2016: $225k
2017: $275k
2018: $340k
2019: $400k
2020: $475k
2021: $550k
2025: $1m

monarda

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #226 on: June 16, 2015, 10:35:58 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.

Adjusting these values based on Zillow numbers (instead of my own guesstimates) and reducing expectations further due to lack of current employment (other than rental income)

current cash (140K)  rental equity ($410K)  primary residence equity ($103K)

2015 $653K
2016 $700K
2018 $800K

still could go for $1M by 2020, but it's more of a stretch now

Gretamom

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #227 on: June 16, 2015, 10:05:15 PM »
With all the recent celebrations of hitting net worth milestones (1 2 3), I'm fired up!

Rather than just reflecting on milestones as we happen to pass them, though, let's push ourselves to hit those milestones even faster!

Long term goals is the best way to success, so let's hear your net worth goals.

Here's my Net Worth Stretch Goals:
(Current - June 2013) 400k
1 Year (June 2014) - 525k
2 Years (June 2015) - 660k
3 Years (June 2016) - 800k

That's right, my goal is to double my net worth from 400 to 800 in 3 years.  That means I'll have to increase our net worth by ~133k/year.   Considering the base gross pay for my wife and I is about 44k each (88k combined), we're short 45k a year.

...and that's if we spend $0.  Since we spend about 20-25k, we'll be short about 65k/year.  I plan to make that gap up with extra side gigs, rents, and other income.  It's a stretch, but it wouldn't be a gauntlet otherwise.  (A much more realistic 3-year goal would be 650k instead of 800, and we'll absolutely hit 600k for sure.  But that gap between 800k and 600k in 3 years is that same 65k/year gap.  Why not go for it?)

Post your current NW and goals you're aiming for, realistic or stretch.  Set your own timeframes (6 months, 1 year, 5, 10 years, whatever your goals are).

Arebelspy - Our goals seem to be pretty similar -
My NW goals for the next three years
Current NW - 500,000
June 2016 - 630,000
June 2017 - 800,000
June 2018 - 1,000,000
I think it's a bit of a stretch, but totally doable! My husband and I make a good income, but save about 60% (It would be more, but my weakness is traveling) We will make the rest from rental income, side hustles, travel hacking and who knows what else, but we will make it! I'm throwing down this gauntlet to see if I can really do it. My original calculations are to hit the 1,000,000 mark September 2019!

mr_orange

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #228 on: June 23, 2015, 06:51:15 PM »
Fun thread.  Thanks for starting it. 

Current net worth - About $1.08M
2015 End Target - $1.5M
2016 End Target - $2.0M
2017 End Target - $2.5M (FIRE)

Each year I plan to make about the same with the risk in our businesses going down each year through reduced contingent liability leverage, increased liquidity, and reduced overall long-term debt.  We also hope to minimize taxes as much as possible while trying to limit debt. 

Thereafter I plan to work on my businesses full time and have the flexibility to work as much or as little as I want to.  I really like working so I can't see sitting on the beach. 
« Last Edit: June 24, 2015, 08:40:58 AM by mr_orange »
12/30/16                                       06/30/17
Fire Totals:                                   Fire Projections:
-$7k/month - 68.1% Funded             86.1% Funded
-$8k/month - 59.6% Funded             75.4% Funded
-$9k/month - 53.0% Funded             67.0% Funded
-$10k/month - 47.7% Funded           60.3% Funded

-Calculus gives speculation the deceptive guise of investment ~Benjamin Graham
-The future ain’t what it used to be ~Yogi Berra

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #229 on: June 24, 2015, 08:08:55 AM »
I haven't posted anything in this thread yet, but it inspired me to look back at some of my net worth projections from when I first discovered MMM. It was almost exactly two years ago, so this seems like a good time to review.

When I first started to get serious about my finances (July 2013), I calculated my net worth to be about $35,000. I had a few hundred in student loans, about $10,000 in car loans, and $130,000 on my mortgage. Towards the end of 2013, I made my first long-term net worth projections. Here's what I came up with at the time:

End of:
2013 - $67,700
2014 - $106,000
2015 - $150,000
2016 - $197,000
2017 - $247,000
2018 - $300,000
2019 - $358,000
2020 - $419,000
2021 - $485,000
2022 - $555,000
2023 - $630,000   Retire!

So far, I have been knocking out goals ahead of schedule. I quickly put the student loans and car loans to bed. I've paid the mortgage down to 107,000 and I'm now renting it out. And just today, my net worth crossed the $150,000 mark for the first time - a full 6 months ahead of schedule! So I have updated my net worth goals accordingly.

End of:
2015 - $180,000
2016 - $245,000
2017 - $315,000
2018 - $390,000
2019 - $470,000
2020 - $555,000
2021 - $645,000   Retire!

Two years earlier than I originally projected! Let's see if I can keep the snowball rolling downhill :)

Of course, as my net worth grows, it will be driven more heavily by investment returns, so a downturn in the stock market could easily set me back a couple years. I'd still be on pace to retire by 40, though.

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FuturePrimitive

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #230 on: June 24, 2015, 10:37:36 AM »
I'm in but my calculations are looking a little stretchy to me, not able to save as much as I'd like.

My planned FIRE date is 11.1.2029. That is also (not coincidentally) the date of my final mortgage payment. I even have a little widget on my phone counting down the days, only 5,244 to go!

Just kind of throwing out some rough dates and round numbers here, there's a lot of variables. 
06.24.15: 600,000
01.01.20: 1,000,000
01.01.27: 2,000,000
11.01.29: 2,500,000

Now, do I really need that much? Probably not, even a conservative 3.5% SWR generates more than my current gross income, I won't have a mortgage payment and I will no longer be putting money into 401k/Roth. Both my kids will be done with college as well (unless they do the "11 year program" like I did) so I should have significantly lower expenses. I just like that number for some reason, subject to change. ;-)

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #231 on: July 30, 2015, 06:09:38 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.

My Net Worth is currently $530,000, so I am just shy of being one year ahead of my above goals.

Here is what my revised goals are:

July 2015:  $530,000
July 2016:  $625,000
July 2017:  $725,000
July 2018:  $845,000

The July 2018 goal is very iffy, as I might retire in July of 2017 and lose my biggest source of income.
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lhamo

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #232 on: July 31, 2015, 11:19:05 AM »
We could probably consider ourselves FI now, based on the sale of our apartment at current values -- that would give us enough of a stash that we could do pretty much whatever we wanted.

However, I'm looking at the possibility of a major promotion at work which, if I handle the negotiations successfully, should also result in a major increase in income and benefits.   That would allow us to return to the higher levels of savings we had to cut back on when we switched the kids schools.  I am looking forward to the challenges/opportunities of the new position, and if it happens I will probably stay in it for at least 5 years.  If it doesn't work out or if it turns out to be a real nightmare then we are on a year-by-year plan.  So our targets would look something like this:

1 year out:  Increase net worth by a minimum of 10%, which would put us pretty solidly into FI territory.  Decide whether to keep with current situation (stay in Beijing, working in current positions or make adjustments)

2-5 years out:  If still working, aim to continue to increase net worth by 10%/year.  If not working, change our living situation so that we are living on a 2-3% SWR (would likely require leaving Beijing)

Wow -- had to go all the way back to page one to find what my original targets were.  Promotion didn't work out -- got the extra work for several months, but not the anticipated raise.  Ended up quitting and moving back to the US with DS, but DH and DD are remaining in Beijing for at least the next year (and we won't sell the apartment for at least that long.

Annual networth increases:

July 13, 2013 - July 13, 2014:  14%
July 13, 2014 - July 13, 2015:  4%

That second year of only 4% growth puts us behind my original target, which was probably overly optimistic (I thought I would be getting a 20-30k raise, minimum, which would have made a big difference in our ability to invest). 

Not sure at this point if my consulting gig is going to work out (and kind of feeling more and more every day like I would rather it didn't).  Networth growth will slow down a bit if we don't have my income to contribute toward living expenses.  Given the significant stash we have at this point, I think I'll be just fine with a 3-5% growth rate on average.  Anything more than that would be gravy.
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Re: Gauntlet: Long Term Net Worth Goals
« Reply #233 on: July 31, 2015, 02:53:07 PM »
It's been a year, and we've had to reevaluate our goals again, somehow we just keep overshooting them.

July 7th, 2014
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

January 1st, 2015
2014: $77,459 (+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)

July 31st, 2015
2015: $140,000 (+70,000)
2016: $190,000 (+50,000)
2017: $250,000 (+60,000)
2018: $315,000 (+65,000) Milestone 1
2019: $385,000 (+70,000)
2020: $465,000 (+80,000)

Current standing is about $113,700

From our original prediction of hitting Milestone 1 in 2020, we are now looking at 2018, two years early.  I suspect in January we may be resetting our goals again.  We started a more aggressive savings strategy now to make more use of our tax advantaged buckets.

The reason our growth is expected to sort of slow down a bit is because our house was bought in a deflated market and is almost back up to market value.  Once that gravy train runs out then we should see more realistic appreciation around 3% rather than the unrealistic rate of 10% we've seen these past two years.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #234 on: August 14, 2015, 11:54:17 AM »
How do you guys account for real estate value in calculating your net worth? I've been counting only the purchase price of my house, but I'm in a rapidly-increasing market (bubble?) and so the Zillow Zestimate of my house is already 100k+ more than I paid for it in 2012. I'm not planning to sell my house in the next 5 years, so not sure how this helps me or whether it's "fair" to count it, since having that asset doesn't help my immediate FIRE goals if I ended up staying in the house. (Though rental value may become an important part of the FIRE plan!)

Here are my rough goals (based on purchase price value of house):

December 2015: 850k
December 2016: 950k and mortgage paid off
December 2017: 1.025m
December 2018: 1.125m
December 2019: 1.275m
December 2020: 1.5m

The bulk of my NW value is in home equity and retirement (401k/Roth) accounts, so I don't have a huge stash that's immediately accessible (and that's by design). After I pay off my mortgage, I will shift my focus to the short-term stash and figure out more specific goals about when I want to reach FIRE, how much I need, and how to get there. My #1 priority has always been funding long-term retirement accounts, then paying off debt (including mortgage -- I know some of you disagree with this approach, but it's all about peace of mind and stability for me, not necessarily maximizing returns).


Zaga

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #235 on: August 14, 2015, 02:57:58 PM »
I don't count the value of my house at all in my net worth. 

If it was a rental house I would, but right now and for the foreseeable future it is a consumption item.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #236 on: August 14, 2015, 03:54:16 PM »
I don't count my primary residence because it doesn't generate spendable income, which is my reason for calculating my net worth.

For rentals, I count current equity minus 10% transaction costs, because I intend to sell them.  If I was going to hold indefinitely, I wouldn't count them at all and instead deduct the income they generate from my expenses.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #237 on: August 16, 2015, 05:38:59 AM »
I count it, but then I plan on it becoming a rental when we FIRE.  Or selling, but most likely renting it out.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #238 on: August 16, 2015, 08:52:58 AM »
Not sure if these numbers are accurate or not, but here are my goals:
2015    74 900,00  $  *Still 2K$ away from acheiving it
2016    92 779,00  $
2017         111 951,00  $
2018    132 509,00  $
2019    154 553,00  $
2020    178 191,00  $
2021    203 537,00  $
2022    230 716,00  $
2023    259 859,00  $
2024    291 109,00  $
2025    324 618,00  $
2026    360 550,00  $
2027    399 079,00  $     *FI
2028    440 393,00  $
2029    484 694,00  $
2030    532 197,00  $    *I'll be 48, maybe I will be tired of my job and FIRE that year
« Last Edit: August 16, 2015, 08:55:32 AM by fb132 »

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #239 on: August 16, 2015, 09:08:39 PM »
Baseline (now): 250k

June 2018 (40): 500K
June 2020 (42): 700K

(somewhere between those two points, full-time work ceases and we do fun shit for 20-30K a piece and live on it)

<Stash compounds>

June 2028 (50): 1M+

Death (my family generally lives to 90+): leave behind at least 10M to a worthy cause
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Re: Gauntlet: Long Term Net Worth Goals
« Reply #240 on: August 18, 2015, 10:01:18 AM »
The more of this thread I read, the more I think the long term net worth challenge should be to minimize it.  Like any schmuck with a decent job can save 50% and work for 40 years and end up a multimillionaire.  That's not even a challenge.

But deliberately limiting your net worth because you know you don't need more money?  Pulling the trigger on early retirement at age 30 with only $450,000 in the bank?  That's a challenge.  It requires a certain intimate familiarity with your real spending patterns, a willingness to make sacrifices or find more income in the event of a downturn, confidence in your asset allocation, and balls of steel. 

I give much more respect to the family of six that FIREs on $500k than I do to the unmarried investment banker who punches out with "only" 2 million instead of the 7 he was originally planning on.  Seriously, which of those people do you think is more badass?

Otherwise, this gauntlet is just "who has the highest paying job and can endure doing it the longest?" and that doesn't really seem in line with what we're all trying to accomplish here.  Namely, getting out from under our jobs.

Lol I guess that's directed at me but I agree with you.  Here are my long te net worth goals:

2020 - 1.5 million
2025 - 2.5 million
2030 - 4 million
2035 - 7 million
2040 - 10 million
2045 - retire early at 65 with 15 million.  I'm a frugal badass!

you must be.

even at a 7% return, you dont hit that without adding in a a good amount of money on a regular basis.

i'm much easier.

2017 - 1 mil.
2027 - 2 mil.
2032 - 2.5 mil.

i have no need to keep busting it once i get past a mil, savings wise; i just dont need multimillions and wont use it.

ZiziPB

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #241 on: August 19, 2015, 11:46:34 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.

Year 2 update, using the same methodology:

August 2013: ~$632,000
August 2014: ~$897,000
August 2015: ~1,096,000

for an increase of $199,000.  Not as impressive as last year primarily due to changing my asset allocation to 60/40 and the market basically going sideways over the last year or so.  I have also reduced the value of my condo in the calculation because the prices have gone down since last year (the condo will be sold at retirement).




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Re: Gauntlet: Long Term Net Worth Goals
« Reply #242 on: August 19, 2015, 12:51:21 PM »
Wow, $600k to $1M+ in two years is awesome!  Congrats on that progress.  I'm looking forward to the day my stash is big enough to compound like that.

Just curious, over the last 2 years how much of the $464k growth was contributions vs market returns?

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #243 on: August 19, 2015, 01:40:40 PM »
Thanks, Bbub.  Contributions and mortgage paydown were around $160K in the first year and around $170K in the second year, so around $130K were market gains (most of them last year).  The market hasn't been good this year for stocks or bonds and I am feeling it :-)



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Re: Gauntlet: Long Term Net Worth Goals
« Reply #244 on: August 22, 2015, 01:45:07 PM »
Thanks, Bbub.  Contributions and mortgage paydown were around $160K in the first year and around $170K in the second year, so around $130K were market gains (most of them last year).  The market hasn't been good this year for stocks or bonds and I am feeling it :-)

I feel like I need to amend my recent NW tally, given what happened with the markets over the last two days ;-)



lhamo

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #245 on: August 22, 2015, 11:16:22 PM »
What goes up, must come down -- we lost nearly $50k this week (on paper)....

The underlying financials of the US market are still pretty strong, so this is probably a good buying opportunity for those who have spare cash lying around.  Of course now I am kicking myself a bit that I rushed to buy VTSAX with my Roth 403b rollover money.  If I had hung on to the cash for another two weeks I could have bought in on a major sale price on Monday!  Not that I'm a dirty market timer or anything :)
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ZiziPB

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #246 on: August 23, 2015, 04:56:06 AM »
What goes up, must come down -- we lost nearly $50k this week (on paper)....

The underlying financials of the US market are still pretty strong, so this is probably a good buying opportunity for those who have spare cash lying around.  Of course now I am kicking myself a bit that I rushed to buy VTSAX with my Roth 403b rollover money.  If I had hung on to the cash for another two weeks I could have bought in on a major sale price on Monday!  Not that I'm a dirty market timer or anything :)

No spare cash for me as I do my investing automatically on a monthly basis.  But I do want to do some tax loss harvesting on Monday in my international fund and I need to check if rebalancing is in order.



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Re: Gauntlet: Long Term Net Worth Goals
« Reply #247 on: September 16, 2015, 02:24:33 PM »
Not really net worth goals, but my investment goals are:

Current $45k
Jan 2016 $68k
Jan 2017 $100k
Jan 2018 $142k
Jan 2019 $195k

Hopefully in 2018 I'll sell my rental property (depends on market) and blow my 2019 goals out of the water. :p

Hit my first goal today!!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #248 on: September 17, 2015, 10:29:21 AM »
Cookie - yay!  Way to be ahead of schedule!

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #249 on: December 02, 2015, 12:12:33 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.

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)

Well, I am am certainly not going to get to $570K in January 2016, as I am only at $520K today.  :(  It will be interesting to see what the markets do in December.
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