Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 94229 times)

mr_orange

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #300 on: July 07, 2016, 06:55:34 PM »
Yup....sure would.  I think the dates got mixed up above ;-)
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 ainít what it used to be ~Yogi Berra

Nick_Miller

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #301 on: July 11, 2016, 08:43:22 AM »
This is exactly the thread I was looking for!

Newbie here. I was thinking this morning, "I want to compete against internet strangers to see who can up their net worth the most in a given period." And look what I found!

For the rest of 2016, I'd like to increase our net worth from $120K to $150K. Then for 2017, I'd like to increase it from $150K to $200K.

marty998

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #302 on: July 17, 2016, 03:15:38 PM »
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  )

I was at $712k at the end of December 2015.

July 2016 now at $792k... with a little luck and flat markets there is a distinct possibility I could finish this year around $850k. Nice, but still neither liquid nor majorly cash generating...

Gotta start rethinking strategy beyond simply acquiring more assets.

TheFirstMan

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #303 on: July 21, 2016, 02:57:16 PM »
Currently, investments and cash is 249K.

Home value is about 280K, with 140K owed.

So net worth of 249K + 280K - 140K = 389K

01/01/16...389K
01/01/17...440K
01/01/18...533K
01/01/19...614K
01/01/20...725K
01/01/21...804K (of which about 360K is home equity and the house is paid off)

This is working from assumptions about inflation and our spending and income that are pretty pessimistic, as well as that we put an addition on the house. So if the market is reasonable, our spending is less, our income is up, inflation is low, and/or we don't do an addition, these could be upped but a significant percent.

Alright, halfway through the year, and we're at 421K--totally on track for 440K by the end of the year. Woohoo!

Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #304 on: August 03, 2016, 07:50:57 PM »
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)

1/1/2016: $89K

Didn't make it to this years goal. But i'm still keeping the numbers the same for the future. Just have to push harder to reach them!!!

Posting for my ~3 year update.
7/29/13 nw was -$60k
8/3/16 nw is $116k

Trying hard to reach my 1/1/17 goal of $160k!!!
"This is the life I chose or rather the life that chose me." - Jay-Z

rothnroll

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #305 on: August 03, 2016, 08:07:57 PM »
I'll play
4 year plan.

Year 1 8/03/2016: 405K (actual)
Year 2 8/03/2017: 500K
Year 3 8/03/2018: 625k
Year 4 8/03/2019: 800K

My wife is starting back to work next year. I think that these goals are attainable.
« Last Edit: August 11, 2016, 12:18:20 PM by rothnroll »

mizzourah2006

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #306 on: August 04, 2016, 12:01:12 PM »
Cool idea! Here is what we are aiming for.

August 2016: $365k
August 2017: $465k
August 2018: $585k
August 2019: $725k

We shall see :)

sailinlight

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #307 on: August 04, 2016, 01:19:21 PM »
I need to post more!
Current NW: 631k. 

Goals:
End of 2016: 720k
2017:  1 Millllllliiiioonn Dollars.  I can't imagine what that will feel like when I hit it.  But I have almost one year and a half to nearly double our NW....
2018: FIRE time!!!!!!!!!!!!!!

Throwing down the guantlet

lhamo

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #308 on: August 04, 2016, 06:44:28 PM »
I need to post more!
Current NW: 631k. 

Goals:
End of 2016: 720k
2017:  1 Millllllliiiioonn Dollars.  I can't imagine what that will feel like when I hit it.  But I have almost one year and a half to nearly double our NW....
2018: FIRE time!!!!!!!!!!!!!!

Throwing down the guantlet

This seems like a very ambitious goal. Do you have a massive income or something?
Wherever you go, there you are

dreams_and_discoveries

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #309 on: August 11, 2016, 03:35:09 AM »
I'm very impressed with all these targets, although I've been monitoring my NW for a few years, this is the first time I've actually set myself targets. He we go...

End 2015 actual £393,000

And targets for the future
2016   £498,000   
2017   £608,000   
2018   £723,000   
2019   £843,000   
2020   £968,000

I'm feeling quite happy, as I'm at £512k today in August, at my 2016 year end target already.

I have new more ambitious targets, but given the climate not sure if these will be over-ambitious, so I'll wait to the end of the year to see what happens to the pound, house prices and the stock market.

NinetyFour

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #310 on: August 11, 2016, 05:12:48 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)

Well, I missed my January 2016 prediction, as my NW now stands at $528,717.  Boo.  I think I must tamp down the rest of the predictions as well.  Here is now what my crystal ball tells me:

Jan 2016:  $528,717
Jan 2017:  $630,306
Jan 2018:  $722,663
July 2018:  $784,925 (still when I hope to retire)

I am currently at $612K.  Should be able to reach $630K well before January 2017.
« Last Edit: November 25, 2016, 10:45:05 PM by NinetyFour »
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boarder42

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #311 on: August 11, 2016, 05:58:14 AM »
I'm in just going to do invested NW

8/11/16 - 378k - current
8/11/17 - 512k
8/11/18 - 663k
8/11/19 - 829k
8/11/20 - 1MM

those are all today dollar projects so they should beat that. Hoping to essentially triple our invested networth in 4 years.
« Last Edit: August 11, 2016, 05:59:53 AM by boarder42 »
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ZiziPB

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #312 on: August 11, 2016, 11:33:47 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).

Here is my NW update a bit earlier this year because I will be on vacation next week:

August 2013: ~$632,000
August 2014: ~$897,000
August 2015: ~1,096,000
August 2016: ~1,228,000

And for the first time, my actual investment portfolio is slightly in excess of $1M.

Quote
I want to have at least $1m, not counting the apartment (current value $55K, no mortgage, rented out) when I retire.  If I stay in my current job, I can easily save $100K per year, so my goal of retiring in the summer of 2018 with at least $1m of net worth seems easily achievable, even if my investments grow at 0% during that time.

FIRE goal is still April 1, 2018, but I seem to be about 18 months ahead of schedule on my NW and investment portfolio goals. I guess my goals were pretty conservative...



Oil Patch Adams

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #313 on: August 11, 2016, 12:08:47 PM »
Since I don't have a fancy spreadsheet that tracks my progress, I should hit something down tied to a date.

August 2016: $756k

Short term goal August 2017: $900k
Haven't thought long enough about long term #'s but FI seems like a dream far away.

New kid on the way so I don't know how this will change things.

dragoncar

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #314 on: August 13, 2016, 11:31:40 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.

Tracking to $1.5M....maybe.  We are at about $1.325M right now.  If the stock market holds up or lifts a bit we will probably make it.

It'd have to be a really good stock market run to affect your net worth six months in the past. ;)

This almost happened to me when I sold a property.  I hadn't been counting appreciation in my NW because it was uncertain.  Once I knew the actual appreciation I went back and updated my monthly spreadsheet numbers assuming linear appreciation (instead of counting it as a huge one-month gain -- others disagreed about this accounting method).  So effectively a really good real estate market increased my net worth from the prior 6 months.

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #315 on: August 14, 2016, 12:43:21 AM »
This almost happened to me when I sold a property.  I hadn't been counting appreciation in my NW because it was uncertain.  Once I knew the actual appreciation I went back and updated my monthly spreadsheet numbers assuming linear appreciation (instead of counting it as a huge one-month gain -- others disagreed about this accounting method).  So effectively a really good real estate market increased my net worth from the prior 6 months.

Since I know we all love pedantry, I'll point out that it didn't increase your net worth in the past--the net worth was already higher at that point, you just didn't know it at the time.  It corrected your past mistake, but didn't raise it from the right number to a new right number.  ;)

I've done the same thing though, once I decided to count our pensions as an asset, and went back and edited in their values back to the time I started counting our NW.
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.
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You can also read my forum "Journal."

dragoncar

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #316 on: August 14, 2016, 02:56:00 AM »
This almost happened to me when I sold a property.  I hadn't been counting appreciation in my NW because it was uncertain.  Once I knew the actual appreciation I went back and updated my monthly spreadsheet numbers assuming linear appreciation (instead of counting it as a huge one-month gain -- others disagreed about this accounting method).  So effectively a really good real estate market increased my net worth from the prior 6 months.

Since I know we all love pedantry, I'll point out that it didn't increase your net worth in the past--the net worth was already higher at that point, you just didn't know it at the time.  It corrected your past mistake, but didn't raise it from the right number to a new right number.  ;)

I've done the same thing though, once I decided to count our pensions as an asset, and went back and edited in their values back to the time I started counting our NW.

Haha I knew this would happen.  Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market (yeah you can estimate, but no sales price is as sure a thing as a high volume index fund).  And more to the point, if mr orange ended up selling his business for an unexpected profit, he could end up having hit his target numbers without realizing it.

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #317 on: August 14, 2016, 03:34:51 AM »
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market

Continuing the pedantry semantics fun, it's still a mistake... just an unavoidable one.  ;)

EDIT: So pumped this turned out to be my 20,000th post.  SO worth it.

« Last Edit: August 14, 2016, 03:39:01 AM by arebelspy »
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."

forummm

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #318 on: August 14, 2016, 04:25:24 PM »
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market

Continuing the pedantry semantics fun, it's still a mistake... just an unavoidable one.  ;)

EDIT: So pumped this turned out to be my 20,000th post.  SO worth it.



Wow, that's a lot of posts!

Primm

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #319 on: August 14, 2016, 04:32:23 PM »
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market

Continuing the pedantry semantics fun, it's still a mistake... just an unavoidable one.  ;)

EDIT: So pumped this turned out to be my 20,000th post.  SO worth it.



You've been busy, I'm sure I remember when we were discussing your 10,000th.

Lagom

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #320 on: August 14, 2016, 04:44:40 PM »
This almost happened to me when I sold a property.  I hadn't been counting appreciation in my NW because it was uncertain.  Once I knew the actual appreciation I went back and updated my monthly spreadsheet numbers assuming linear appreciation (instead of counting it as a huge one-month gain -- others disagreed about this accounting method).  So effectively a really good real estate market increased my net worth from the prior 6 months.

Since I know we all love pedantry, I'll point out that it didn't increase your net worth in the past--the net worth was already higher at that point, you just didn't know it at the time.  It corrected your past mistake, but didn't raise it from the right number to a new right number.  ;)

I've done the same thing though, once I decided to count our pensions as an asset, and went back and edited in their values back to the time I started counting our NW.

How do you count your pensions as part of your NW? Multiply them by 25? And, presuming you started counting NW before you stopped working, how were you estimating the rise in the value of your pension in total dollar terms?

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #321 on: August 14, 2016, 05:23:41 PM »
This almost happened to me when I sold a property.  I hadn't been counting appreciation in my NW because it was uncertain.  Once I knew the actual appreciation I went back and updated my monthly spreadsheet numbers assuming linear appreciation (instead of counting it as a huge one-month gain -- others disagreed about this accounting method).  So effectively a really good real estate market increased my net worth from the prior 6 months.

Since I know we all love pedantry, I'll point out that it didn't increase your net worth in the past--the net worth was already higher at that point, you just didn't know it at the time.  It corrected your past mistake, but didn't raise it from the right number to a new right number.  ;)

I've done the same thing though, once I decided to count our pensions as an asset, and went back and edited in their values back to the time I started counting our NW.

How do you count your pensions as part of your NW? Multiply them by 25? And, presuming you started counting NW before you stopped working, how were you estimating the rise in the value of your pension in total dollar terms?
We've had a couple discussions on how to value pensions.

I'm on my phone, or I'd provide some links, but you can search the forums if you want to read more on it.  Essentially the route I chose was NPV.  Contributions, lump sum estimate are some other methods.

I don't like 25x, as I think it overvalues it. It's not liquid, doesn't pass on to heirs, etc. So it's not the same as cash in the bank.

The question, of course is why you want to count it.  I'd separate it out from your investment portfolio for a 4% rule thing, and subtract of what it will provide from expenses (assuming it's stable, and COLA'd). Otherwise I'd model it in www.cfiresim.com for what your stache is, and input it as a separate income stream in the year you will receive 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."

Cassie

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #322 on: August 14, 2016, 05:58:06 PM »
I have always counted our pensions as part of our NW and we get COL raises starting with the 4th year.  I guess the only reason not to is if they were unstable.  We can and did leave them to each other for a small reduction. 

Lagom

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #323 on: August 14, 2016, 06:19:20 PM »
We've had a couple discussions on how to value pensions.

I'm on my phone, or I'd provide some links, but you can search the forums if you want to read more on it.  Essentially the route I chose was NPV.  Contributions, lump sum estimate are some other methods.

I don't like 25x, as I think it overvalues it. It's not liquid, doesn't pass on to heirs, etc. So it's not the same as cash in the bank.

The question, of course is why you want to count it.  I'd separate it out from your investment portfolio for a 4% rule thing, and subtract of what it will provide from expenses (assuming it's stable, and COLA'd). Otherwise I'd model it in www.cfiresim.com for what your stache is, and input it as a separate income stream in the year you will receive it.

Yeah I should have used the search feature. It gave me these two you yourself linked last time someone asked this, in case anyone else reading is a lazy as I was :)

http://forum.mrmoneymustache.com/investor-alley/accounting-question-pension-as-an-asset/
http://forum.mrmoneymustache.com/welcome-to-the-forum/value-of-a-pension/



oldtoyota

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #324 on: August 19, 2016, 03:36:13 PM »
I have always counted our pensions as part of our NW and we get COL raises starting with the 4th year.  I guess the only reason not to is if they were unstable.  We can and did leave them to each other for a small reduction.

This reminds me to make note in my projections that I do not count social security as future income. I view that as extra, and I've decided not to count it.

Neither of us has pensions--alas!--so we have to save all of our pennies now and live off those.

oldtoyota

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #325 on: August 19, 2016, 03:58:33 PM »
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 :)


I'm in a similar way with knocking out the goals early.

When I first joined here in 2013, I thought I could hit my target 1) perhaps never and then 2) in nine years.

Due to the market, increased savings, etc, time kept getting shaved off of the nine-year mark. Now, I'm looking at Dec 2019 to FIRE, which would be 6.5 years from when I joined this forum.

If we're early again, I will not be surprised. I have the money now that I'd projected we'd not have until December 2016. That seems to keep happening and shaving more time off of the end goal. =-))


« Last Edit: August 19, 2016, 04:00:20 PM by oldtoyota »

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #326 on: August 19, 2016, 04:12:02 PM »
I'm in a similar way with knocking out the goals early.

When I first joined here in 2013, I thought I could hit my target 1) perhaps never and then 2) in nine years.

Due to the market, increased savings, etc, time kept getting shaved off of the nine-year mark. Now, I'm looking at Dec 2019 to FIRE, which would be 6.5 years from when I joined this forum.

If we're early again, I will not be surprised. I have the money now that I'd projected we'd not have until December 2016. That seems to keep happening and shaving more time off of the end goal. =-))

Same thing happened to me.

Membership in this forum seems to be detrimental to one's working time.  ;)
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 #327 on: August 19, 2016, 09:47:35 PM »
I'm in a similar way with knocking out the goals early.

When I first joined here in 2013, I thought I could hit my target 1) perhaps never and then 2) in nine years.

Due to the market, increased savings, etc, time kept getting shaved off of the nine-year mark. Now, I'm looking at Dec 2019 to FIRE, which would be 6.5 years from when I joined this forum.

If we're early again, I will not be surprised. I have the money now that I'd projected we'd not have until December 2016. That seems to keep happening and shaving more time off of the end goal. =-))

Same thing happened to me.

Membership in this forum seems to be detrimental to one's working time.  ;)

Ha. =-) Thank goodness for this forum!

PFHC

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #328 on: August 19, 2016, 10:14:23 PM »
I'd love to hit $100k/yr.

Current: $245,000
2016 EOY: $265,000
2017: $365,000
2018: $465,000
2019: $565,000
2020: $665,000
2021: $765,000
2022: $865,000 ---> FI. I still plan to work, but likely would be working for a wooden boat builder or farting around doing something chill.

Assuming nothing changes, a more realistic number is likely $70k/yr. That pushes FI out to 2024, or age 44; which, considering I passed 0NW at age 33, would be a HUGE win in my book.

bluerunner

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #329 on: August 24, 2016, 09:56:02 AM »
Below is my forecast of liquid, investable assets -- excludes primary residence.  Assumes market returns about 6%/year, so any recessions would impact forecast. :)  I think my FI is 4 but it's hard to imagine that I would stop working at 47-48.

Jan 2017: 1.2
Jan 2018: 1.43
Jan 2019: 1.69
Jan 2020: 2
Jan 2021: 2.35
Jan 2022: 2.75
Jan 2023: 3.15
Jan 2024: 3.68
Jan 2025: 4.28

boarder42

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #330 on: August 24, 2016, 10:05:26 AM »
Below is my forecast of liquid, investable assets -- excludes primary residence.  Assumes market returns about 6%/year, so any recessions would impact forecast. :)  I think my FI is 4 but it's hard to imagine that I would stop working at 47-48.

Jan 2017: 1.2
Jan 2018: 1.43
Jan 2019: 1.69
Jan 2020: 2
Jan 2021: 2.35
Jan 2022: 2.75
Jan 2023: 3.15
Jan 2024: 3.68
Jan 2025: 4.28

you spend 160k a year?
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #331 on: August 24, 2016, 10:42:34 AM »
I'd love to hit $100k/yr.

Current: $245,000
2016 EOY: $265,000
2017: $365,000
2018: $465,000
2019: $565,000
2020: $665,000
2021: $765,000
2022: $865,000 ---> FI. I still plan to work, but likely would be working for a wooden boat builder or farting around doing something chill.

Assuming nothing changes, a more realistic number is likely $70k/yr. That pushes FI out to 2024, or age 44; which, considering I passed 0NW at age 33, would be a HUGE win in my book.

Very nice work. This is inspirational for me, a 33 year old who expects to finally pass onto the positive side of 0NW next month! I have similar aspirations, although my wife and I both have pensions, so that will change our calculus somewhat. I think 70k/year is a great number for those in a higher COL area. Should allow very comfortable day to day living with one big and several small vacations each year.

Oil Patch Adams

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #332 on: August 24, 2016, 11:52:48 AM »

Same thing happened to me.

Membership in this forum seems to be detrimental to one's working time.  ;)
Fact.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #333 on: August 24, 2016, 11:57:49 AM »
I'd love to hit $100k/yr.

Current: $245,000
2016 EOY: $265,000
2017: $365,000
2018: $465,000
2019: $565,000
2020: $665,000
2021: $765,000
2022: $865,000 ---> FI. I still plan to work, but likely would be working for a wooden boat builder or farting around doing something chill.

Assuming nothing changes, a more realistic number is likely $70k/yr. That pushes FI out to 2024, or age 44; which, considering I passed 0NW at age 33, would be a HUGE win in my book.

PFHC, Why are you expecting a constant $100k/year?

If you are putting in $100k/year, the money you have already saved will be growing during that year.

For example, my first networth of X dollars took 10 year, The time take to reach 2X was just 5 years....

PFHC

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #334 on: August 24, 2016, 07:17:53 PM »
Very nice work. This is inspirational for me, a 33 year old who expects to finally pass onto the positive side of 0NW next month! I have similar aspirations, although my wife and I both have pensions, so that will change our calculus somewhat. I think 70k/year is a great number for those in a higher COL area. Should allow very comfortable day to day living with one big and several small vacations each year.
Thanks, man. We've been completely pumped with the results. The NW has really taken off, especially since integrating MMM methods.

PFHC, Why are you expecting a constant $100k/year?

If you are putting in $100k/year, the money you have already saved will be growing during that year.

For example, my first networth of X dollars took 10 year, The time take to reach 2X was just 5 years....
Yeah, we've seen that, too. First 100k took 2.5 years. The next took 1. And, I'm not expecting it. I expect better. But, when I plan, I like to be as conservative as possible.

webguy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #335 on: August 24, 2016, 07:59:57 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

I need to update my goals!

Current NW:  $1.1M
Jan 1 2017:  $1.25M
Jan 1 2018:  $1.6M
Jan 1 2019:  $2M


PFHC

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #336 on: August 24, 2016, 09:37:50 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

I need to update my goals!

Current NW:  $1.1M
Jan 1 2017:  $1.25M
Jan 1 2018:  $1.6M
Jan 1 2019:  $2M

Holy shit. Well done.

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #337 on: August 25, 2016, 08:45:59 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

I need to update my goals!

Current NW:  $1.1M
Jan 1 2017:  $1.25M
Jan 1 2018:  $1.6M
Jan 1 2019:  $2M

So you hit your Jan 2018 goal in mid-2016, 1.5 years early.  Likely you'll hit these new, revised goals early, too.

Have you started thinking about "enough"?  What's the ultimate goal?  :)
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.
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muckety_muck

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #338 on: September 01, 2016, 02:01:52 AM »

Current Net Worth 1/1/2016: $889k
Projected 12/31/2016: $1M
12/31/2017: $1.17M
12/31/2018: $1.32M
12/31/2019: $1.47M
12/31/2020: $1.63M
12/31/2021: $1.8M
Expected year of FIRE, 12/31/2022: $1.91M (only working partial year)

Met our goal of $1M already at 8/31/2016... sights are set high for 2017!
Follow our quest to FIRE in 2022! Side hustles, budgets, crazy ideas galore. http://forum.mrmoneymustache.com/journals/getting-serious-about-un-mucking-our-future/msg805487/#msg805487

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #339 on: September 01, 2016, 06:42:30 AM »
Now that SO and I have combined finances and had several talks about what we want the next few years to look like, I'm going to join in here with our goals/projections. As of 8/31/2016 our net worth was $285,500. Onward and upward!

12/31/2016: $315,000
12/31/2017: $437,000
12/31/2018: $582,000
12/31/2019: $745,000
12/31/2020: $886,000
12/31/2021: $996,000
12/31/2022: $1,118,000
12/31/2023: $1,252,000 (FI!)
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MMMotivated

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #340 on: October 11, 2016, 11:27:35 AM »
I have been looking through old spreadsheets, and here is the data that I pulled up.  Somewhat uneven growth at times, and not the rapid growth of some others on the blog:

Date                    Net Worth
2/1/1997           $67,858.98
12/1/2008           $394,783.44
12/13/2009    $554,515.43
11/17/2010    $745,471.48
12/9/2012            $803,783.29
11/7/2013            $993,110.39
9/23/2014         $1,120,750.51
12/31/2015     $1,222,227.69
10/5/2016         $1,400,768.75

I don't have a next-step goal.  It would be nice to reach $2 million in a few years.  I am reassessing my future growth goals for our NW, specifically the percentage to have in a total US stock fund, for the long term, and the percent in cash and safe funds.  We will begin drawing from the funds in 2017.  I am currently able to FIR (somewhat) E at 59.
I now have hundreds of thousands of little employees.  Have reached FI.

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bownyboy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #341 on: October 12, 2016, 04:22:52 PM »
Great thread. Like others have said on here, although I track our networth, its not an indication of when we can FIRE because about 70% is tied up in our modest 3 bedroom cottage. Being in the south east of UK we have experienced huge house price inflation over the last 7 years since we bought our house.

However for the purposes of FI we are currently at £325k which is a combination of Stocks and Shares ISAs, Pensions, Shares and Cash.

Our target is 25 times £24k or £600k, so £24k a year.

Here's the plan to be FIRE by 2021

October 2017 - £386k
October 2018 - £436k
October 2019 - £491k
October 2020 - £554k
October 2021 - £616k

This assumes 7% growth and £24k a year contributions. So far we're on track. Until 2 years ago I had no idea how or when I would reach FI. Thanks to these forms and ERE, Monevator, Moneysavingexpert and other,  we have a plan and by and large we're on track and I can't believe we can potentially choose to stop work in 5 years!

I've tried to talk to friends or colleges in the past but no one seems to 'get it' or looks at us strangely!


steveo

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #342 on: December 08, 2016, 06:28:58 PM »
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.

Just went through this thread and didn't realize I had posted on it. My goals have changed over that time however looking at this I feel these goals are pretty spot on although I'll simplify it a little.

The goal is to get to $700k plus a paid off house and then work part time for 5 years if possible.

As for this year the mortgage will be paid off in 2 days time. Our networth excluding our home is about $300k. I think we can shave a year off the times listed above assuming the markets over that time perform reasonably well. If not another year should do it.

I thought I'd update now because I'm sitting at home contemplating the best year of my career. Why has it been good I hear you ask ? It's because I've done minimal work and that is about it. I reckon I've done 20 hours per week at best on average this year.

It's been a good year financially. We have about $135k in non-super assets & $285 in super. Our house is probably worth about $1.5 million but I don't include that because it is something that at this point we are keeping.

I think the plan remains about the same. I'm looking to retire in 2020 and that is on track. At the moment my date is 1st July 2020 because that is the start of the new financial year. I don't intend to work part time for 5 years now because I don't think that we will need too.

neo von retorch

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #343 on: December 08, 2016, 06:58:46 PM »
Current Net Worth: $270k (based on rental house value of $170k)
Next month... : $260k (based on purchasing new house valued at $395k, minus closing costs, escrow of taxes/insurance, etc.)

Estimated year-end:
YearInvestmentsReal EstateDebtsNet Worth
2016198k555k-409k344k
2018349k555k-366k537k
2020492k555k-331k716k
2025954k555k-237k1272k

Ouch - missing my goal by a decent amount. Year-end more like $315k. Plan to do much better in 2017. Lot of big purchases and spending behind me. Also based Real Estate here on Zillow values (maybe?) but now I just use appraised value at time of purchase. (I do not update based on Zillow!) So that shaves 10k off. Updating chart above. Still missed my goal, but should see good acceleration in a couple years.

Updated goals:
YearInvestmentsReal EstateDebtsNet Worth
2016187k555k-428k314k
2018294k555k-382k466k
2020498k555k-339k714k
20251111k555k-231k1435k
« Last Edit: December 08, 2016, 07:28:33 PM by neo von retorch »

NinetyFour

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #344 on: December 08, 2016, 07:16:34 PM »
Here is now what my crystal ball tells me:

Jan 2016:  $528,717
Jan 2017:  $630,306
Jan 2018:  $722,663
July 2018:  $784,925 (still when I hope to retire)


Currently at $657,000.

Would like to hit $800,000 when I retire in July 2018.
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Oil Patch Adams

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #345 on: December 14, 2016, 03:26:42 AM »

August 2016: $756k

Short term goal August 2017: $900k

New kid on the way so I don't know how this will change things.
New kid is here ,and real estate taxes are expensive this year, but the market is killing it.
December 2016: $859k

Goals
August 2017: $1M
If I can stay employed
August 2018: $1.25M

bridget

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #346 on: December 17, 2016, 09:48:32 AM »
New on the thread! A lot of factors are very up in the air for me (will I stay at my job more than 2 years? Will I collect all bonuses? Will husband get a job, if so which one?). So I've only set a goal for 2017.

NW at end of 2016: $280k
Easily-obtainable goal for end of 2017: $380k (assuming a flat market)
Stretch goal for end of 2017: $400k if husband does not get a job, $450k if he does.

nawhite

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #347 on: December 19, 2016, 03:45:49 PM »
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

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.

I love this thread. Today, best bet, I'm around $213k net worth with 58k of student loan debt.

It could easily be plus or minus 20k because I include home equity in net worth (because we'll sell this house soon) and this year my house went up an obscene amount. According to Zillow, it's now worth 50% more than it was when I bought it but part of that is because of new solar panels so I'm kinda estimating.

The reason the student loan debt isn't lower is because as mentioned last year, my wife and I decided to start RVing full time starting around May 2016. We went down to minimum payments on the student loans to save up to buy an RV for $6500 and by the time we're ready to leave we will probably have put another $4-5000 into it and other equipment. You can read about it on our blog at http://therecklesschoice.com. It is amazing how slowly student loans go down when you do minimum payments.

I'll leave the goals the same and see where they land next year after we've been in the RV for a while. Congrats to everyone on their progress!

I've been here a while apparently. Looking back through I have some posts here from July 2013. Things have changed a lot over the years but I've now surpassed my 30th birthday goal from way back when this thread started so I guess I better update things again.

First off, in case you're curious, the first year of the RV trip was a huge success https://therecklesschoice.com/2016/12/06/where-we-went-2016/ That said our net worth didn't go up as much as in past years mostly because we spent a lot on getting the RV ready and also my wife quit her job to finish her Masters and live in the RV.

Going forward, I think we're going to keep doing the RV thing for a few years which should keep expenses down some. We'll be selling the house (now rental) either this year or the next so we don't have to pay capital gains taxes on it. We're contemplating adopting but that doesn't work well when you live in an RV or when you're FIRE'd so I need to keep the job at least until then if we decide to. The student loan debt is still all 3% or lower so we'll be hanging on to that as long as possible while interest rates stay low.

So here are some new goals:

Jan 2014 Actual: ~$0k NW
Jan 2015 Actual: $105k* NW, $68k non-mortgage debt
Jan 2016 Actual: $213k* NW, $58k debt
Jan 2017 Actual: $265k* NW, $47k debt
Jan 2018: Goal: $330k NW, $35k debt
Jan 2019: Goal: $400k NW, $22k debt
Jan 2020: Goal: $500k NW, $8k debt
Jan 2021: Goal: $600k NW, $0k debt

* I include home equity, especially now that the home is a rental unit and not where I live, but it means I need to estimate my home value and zillow has been overestimating by more every year so I'm guessing a little bit here.

See you next year!
We live in an RV full time while still working remotely. Check it out at http://therecklesschoice.com

Wile E. Coyote

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #348 on: January 01, 2017, 08:50:29 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

Another year in the books.

2014 $1.36M (actual)
2015 $1.54M (actual)
2016 $1.84M
2017 $2.12M
2018 $2.44M
2019 $2.79M
2020 $3.17M


It looks like we will be shy of even my original goal this year, but keeping the remaining goals the same, but they are probably not realistic.  It's good to have stretch goals, I suppose.

2014 $1.36M (actual)
2015 $1.54M (actual)
2016 $2.20M (actual)
2017 $2.20M
2018 $2.20M
2019 $2.20M
2020 $2.20M

Well, it has been quite a good year with significant market and real estate appreciation.  However, the real estate numbers are from Zillow, which I think are highly overinflated.  I've decided that I have enough to take a chance on a new venture.  It's unclear at this point how successful it will be, so my goal for now is to simply maintain what I have accumulated.

« Last Edit: January 01, 2017, 08:53:02 PM by Wile E. Coyote »

Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #349 on: January 02, 2017, 08:03:28 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)

1/1/2016: $89K

Didn't make it to this years goal. But i'm still keeping the numbers the same for the future. Just have to push harder to reach them!!!

Posting for my ~3 year update.
7/29/13 nw was -$60k
8/3/16 nw is $116k

Trying hard to reach my 1/1/17 goal of $160k!!!

Sooooo close...

1/2/17 NW = $156,358
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