Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 73869 times)

Vilgan

  • Bristles
  • ***
  • Posts: 443
  • Location: Seattle, WA
Re: Gauntlet: Long Term Net Worth Goals
« Reply #350 on: January 02, 2017, 11:03:44 AM »
Fun thread idea, will have to remember to come back to update in the future.

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

Goals:

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

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

Jan 1 2015 was right on target at around 78k.

Jan 1 2016 net worth is 220k, nearly a year ahead of schedule! This is primarily due to increased income as the markets haven't really done much this year. Goal for next year is to hit the 2018 goal of 325k by Jan 1 2017.

Jan 1 2017 net worth is 425k. 2 years ahead of schedule, altho more of it is real estate appreciation than we were anticipating so not 2 years ahead on liquid assets.

Goal for Jan 1 2018 is 550k. Here's to a good 2017!

neo von retorch

  • Handlebar Stache
  • *****
  • Posts: 2017
  • Location: Doylestown, Pennsylvania
Re: Gauntlet: Long Term Net Worth Goals
« Reply #351 on: January 02, 2017, 04:01:19 PM »
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

Ending the year a little above $319k in net worth.
Investments at $192k, debts a few hundred shy of $428k.

HappierAtHome

  • Magnum Stache
  • ******
  • Posts: 4886
  • Location: Australia
Re: Gauntlet: Long Term Net Worth Goals
« Reply #352 on: January 02, 2017, 05:50:40 PM »
2017: $1M.
2027: $2.5M.

On track for the 2017 goal by the end of the year :-)

We went backwards at the start of last year (sold a poor RE decision, realising the loss) so I'm surprised we're still on track. I guess if the inner city Perth apartment market hadn't dropped we'd have met the goal early.

webguy

  • Stubble
  • **
  • Posts: 189
  • Age: 31
  • Location: Minnesota
Re: Gauntlet: Long Term Net Worth Goals
« Reply #353 on: January 02, 2017, 08:16:20 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

Jan 1 2017:  $1.26M

Phew, just made it! I have no idea how 2017 is going to go income-wise, so I'm sticking with my $1.6M goal for now and I'll revisit in 6 months...

afuera

  • Stubble
  • **
  • Posts: 216
  • Age: 25
  • Location: Houston, TX
Re: Gauntlet: Long Term Net Worth Goals
« Reply #354 on: January 03, 2017, 11:51:42 AM »
It took us 2 years to go from -20K to 105K and for that first year we had not even learned The Way of The Mustache.
We currently down to 1 income so hopefully big lofty net worth goals will help us kick it up a notch
EOY             NW Goal        NW Actual
2015              $100K             110K
2016              $175K             186K
2017              $275K
2018              $400K
2019              $550K
2020              $725K
2021              $875K
2022              $1.0M
DH was unemployed for 10 months but we still met the goal.  Excited to see what type of progress we make this year now that we are back to DINK status.
« Last Edit: January 03, 2017, 12:30:17 PM by trappedinmyoffice »
"The price of anything is the amount of life you exchange for it" - Henry David Thoreau

1/2017: INV-2.6x, NW-4.4x
Projected FIRE date: 2025
Journal.

andy85

  • Pencil Stache
  • ****
  • Posts: 932
  • Age: 31
  • Location: Louisville, KY
Re: Gauntlet: Long Term Net Worth Goals
« Reply #355 on: January 03, 2017, 12:11:01 PM »
goal/stretch goal
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k

2015 Actual - $40,500
2016 Actual - $61,253

OurTown

  • Bristles
  • ***
  • Posts: 252
  • Age: 47
  • Location: Tennessee
Re: Gauntlet: Long Term Net Worth Goals
« Reply #356 on: January 03, 2017, 01:33:06 PM »
Jan. 1, 2017:  433
Jan. 1, 2018:  504
Jan. 1, 2019:  579
Jan. 1, 2020:  657
Jan. 1, 2021:  739
Jan. 1, 2022:  825
Jan. 1, 2023:  916
Jan. 1, 2024:  1,011
Jan. 1, 2025:  1,111
Jan. 1, 2026:  1,216

This assumes I make a 5% ROI and that I save a paltry 50K per year.  Any badass adjustments would significantly accelerate this process.

Jan. 1, 2017 actual = 468

monarda

  • Bristles
  • ***
  • Posts: 278
Re: Gauntlet: Long Term Net Worth Goals
« Reply #357 on: January 03, 2017, 09:49:56 PM »
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

Switching to January updates, and factoring in new job

end of 2015  $697K
end of 2016  $760K
          2017  $850K
          2018  $900K  (goal to be working  part time)
          2020  $1M  much more doable

   
      End of 2016      $829K  (cash about $200K)    Zillow values went way up, so this could be overestimating by 20-40K
let's boost 2017      $875K-$900K
                2018      $1M
« Last Edit: January 04, 2017, 09:08:22 PM by monarda »

smacpa

  • 5 O'Clock Shadow
  • *
  • Posts: 30
Re: Gauntlet: Long Term Net Worth Goals
« Reply #358 on: January 04, 2017, 05:40:29 AM »
 New around here, but I love seeing all the progress.

My goal is to add 40k to my net worth in 2017!

2016 - 230k
2017 - 270k

Pooperman

  • Handlebar Stache
  • *****
  • Posts: 2372
  • Age: 27
  • Location: North Carolina
Re: Gauntlet: Long Term Net Worth Goals
« Reply #359 on: January 04, 2017, 06:46:50 AM »
Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $85k
Jan 1 2018: $115k
Jan 1 2020: $190k
Jan 1 2025: $450k
Jan 1 2030: $800k
Jan 1 2035: $1300k

Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $70k
Jan 1 2018: $110k
Jan 1 2020: $205k
Jan 1 2025: $430k
Jan 1 2030: $685k
Jan 1 2035: $985k

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 24482
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #360 on: January 04, 2017, 06:58:33 AM »
Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $85k
Jan 1 2018: $115k
Jan 1 2020: $190k
Jan 1 2025: $450k
Jan 1 2030: $800k
Jan 1 2035: $1300k

Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $70k
Jan 1 2018: $110k
Jan 1 2020: $205k
Jan 1 2025: $430k
Jan 1 2030: $685k
Jan 1 2035: $985k

Bummer =/

Most people's net worth here is trending up rapidly, and goals and projections have to be bumped up, due to both:
1) Underestimating how badass they can be (and then either earning more than they thought, or spending less, or both), and
2) The giant bull market we've been in for 7.5 years.

Yours is the only one I can think of that has decreased consistently (several years in a row).  From 2MM 2030 projection down to 685k?  Doh!

Bad investments, less savings than you thought, way too overoptimistic projections, life hitting you hard (giant medical issue or something), or other?

Hope that turns around and those numbers start trending up!  :)
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."

Pooperman

  • Handlebar Stache
  • *****
  • Posts: 2372
  • Age: 27
  • Location: North Carolina
Re: Gauntlet: Long Term Net Worth Goals
« Reply #361 on: January 04, 2017, 07:49:10 AM »
Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $85k
Jan 1 2018: $115k
Jan 1 2020: $190k
Jan 1 2025: $450k
Jan 1 2030: $800k
Jan 1 2035: $1300k

Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $70k
Jan 1 2018: $110k
Jan 1 2020: $205k
Jan 1 2025: $430k
Jan 1 2030: $685k
Jan 1 2035: $985k

Bummer =/

Most people's net worth here is trending up rapidly, and goals and projections have to be bumped up, due to both:
1) Underestimating how badass they can be (and then either earning more than they thought, or spending less, or both), and
2) The giant bull market we've been in for 7.5 years.

Yours is the only one I can think of that has decreased consistently (several years in a row).  From 2MM 2030 projection down to 685k?  Doh!

Bad investments, less savings than you thought, way too overoptimistic projections, life hitting you hard (giant medical issue or something), or other?

Hope that turns around and those numbers start trending up!  :)

A combination of things, really. We bought a house this year, so a decent chunk of cash went poof to furnish, do some work, and closing of course. The initial forecasts were hand-wavy math where the later ones were more accurately forecast with a spreadsheet. Health expenses were also quite high this past year. The future guestimates are in today's dollars and it does not account for future salary increases. The estimate does not include future house appreciation either.

Realistically, 1.5 million by 2035 is doable in 2035 dollars and once you account for the things the estimate is missing. I hope to use both stocks/bonds and local real estate to generate the money needed to retire in 18 years, but the simulation only accounts for stocks/bonds/cash.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 24482
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #362 on: January 04, 2017, 08:00:17 AM »
Got it.  Good luck! :)
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."

FrozenBits

  • Pencil Stache
  • ****
  • Posts: 816
Re: Gauntlet: Long Term Net Worth Goals
« Reply #363 on: January 04, 2017, 12:07:33 PM »
I was hoping to add more this year but we still hit our goal.  Had some higher expenses this year including 5k in medical and probably 2-3k for a 3 week vacation in Greece, totally worth it!  This upcoming year may present several life changes including a possible career change for my wife.  With all this uncertainty out there, I'll be happy if we stay on track and meet our 2017 end of year goal. 



Date    Added Per Year       Total Estimated        Added Per Year      Total Actual
               Estimated                                                   Actual

Year             
2014       $60,000                $106,700                    $62,200              $106,700
2015       $60,000                $177,869                    $96,666              $203,468
2016       $65,000                $259,141                    $72,907              $276,375
2017       $65,000                $345,859
2018       $70,000                $443,721
2019       $70,000                $548,140
2020       $80,000                $670,226
2021       $80,000                $800,491
2022       $90,000                $950,154
2023       $90,000                $1,109,844
2024       $100,000              $1,290,904

dreams_and_discoveries

  • Bristles
  • ***
  • Posts: 316
  • Location: London, UK
Re: Gauntlet: Long Term Net Worth Goals
« Reply #364 on: January 08, 2017, 04:29:08 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've got 550k for end of 2016, a good 50k above target (although lots of this is due to the devaluing of the pound)

2016 target is now increased to 670k.

skip207

  • 5 O'Clock Shadow
  • *
  • Posts: 18
  • Location: UK
Re: Gauntlet: Long Term Net Worth Goals
« Reply #365 on: January 08, 2017, 02:45:50 PM »
Realistic targets for me:
2020-500k
2025-750k
2030-1m FIRE!

Secretly Saving

  • Bristles
  • ***
  • Posts: 334
Re: Gauntlet: Long Term Net Worth Goals
« Reply #366 on: January 08, 2017, 04:39:49 PM »
We're shooting for about a $200k increase in net worth for 2017. 
Huge, I know, but I think with some extra focus, it will be attainable.
   

catccc

  • Handlebar Stache
  • *****
  • Posts: 1355
  • Location: SE PA
    • My You Need A Budget (YNAB) referral link (save $6):
Re: Gauntlet: Long Term Net Worth Goals
« Reply #367 on: January 10, 2017, 01:33:19 PM »
My February 2014 post:
we are at $474 at the end of 2013.

Hoping to reach $570K by the end of 2014

Not sure what to expect after that, but here's a guess:

2015: $680K
2016: $800K
2017: $925K
2018: $1,055K
2019: $1,190K
2020: $1,330K  I'll be 41

Update, not quite as far along as I'd like, but not for lack of trying.  We were awfully close to $570K at the end of 2014.  ($568K, to be exact.)  But 2015 ended at only $606K.  The goal for 2016 is now $680K, so we are about a full year behind.  I want to revamp the schedule to reflect this, but I also don't want to acknowledge that $1.33M in 2020 is quite a stretch...

2016 Ending NW $711K
Goals:
2017: $815
2018: $945
2019: $1,075 (I turn 40 this year!)
2020: $1,210 (I'll be 41)
2021: $1,350 (I'll be 42)


CupcakeGuru

  • 5 O'Clock Shadow
  • *
  • Posts: 47
  • Location: GA
Re: Gauntlet: Long Term Net Worth Goals
« Reply #368 on: January 20, 2017, 07:20:52 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

Jan 2 2017
Ended 2016 at 640k! 40 grand ahead of projections!
Thank you mustaches!

NICE!

  • Pencil Stache
  • ****
  • Posts: 685
  • Location: Africa
Re: Gauntlet: Long Term Net Worth Goals
« Reply #369 on: January 22, 2017, 10:51:12 PM »
Jan 1, 2015: $235k
Jan 1, 2016: $300k
Jan 1, 2017: $375k
Jan 1, 2018: $475k
Jan 1, 2019: $600k (I view this as a low FI #, one I could achieve if I really wanted to stop working.)

That's what I posted a couple of years ago. I'm a bit off course, as I am projecting $70k in savings this year. Assuming no market returns, that puts us at $420k. Assuming a really strong year, we probably fall short of $475k. I'm going to tone it down to $450k and also bump the following years a bit. The $100k then $125k jump between 17-18 and 18-19 were too aggressive. $600k is my low FI number, so it looks like we're shooting for 2020-2021.

Jan 1, 2017: $350k
Jan 1, 2018: $450k (would require additional savings or $30k in market returns)
Jan 1, 2019: $500k (income will drop)
Jan 1, 2020: $550k
Jan 1, 2021: $600k

We currently give more than 10%. I'm wondering whether we should scale it back to 10% until we reach the low FI #. The argument for this is that we should shore up our financial security and then focus on helping others. The argument against is that we are still able-bodied, have high salaries, and people still need help today. I'm currently mulling over these thoughts.

TheFirstMan

  • 5 O'Clock Shadow
  • *
  • Posts: 46
Re: Gauntlet: Long Term Net Worth Goals
« Reply #370 on: March 18, 2017, 05:18:22 AM »
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.

Needing to update a bit here...we are halfway through an addition, and our income situation changed.

Today

Cash and liquid accounts: 80K. Of this, home addition and other capital projects are 37K+8K+10K = 55K, leaving 25K actually.

Investments: 293K

Home value is actually now at least 275K (and likely a fair bit more after the improvements, as much as 350K), with 200K owed. Will likely pull out equity up to 80% and deploy more productively.

So net worth of 24K + 293K + 75K = 393K

With new savings goal of 5K/month (conservative) and a real rate of return of 3% (also conservative), keeping the home equity at just 75K I estimate...

Future:

01/01/18...440K
01/01/19...511K
01/01/20...584K
01/01/21...660K
01/01/22...736K
01/01/23...817K
01/01/24...900K
« Last Edit: March 18, 2017, 05:20:27 AM by TheFirstMan »

afuera

  • Stubble
  • **
  • Posts: 216
  • Age: 25
  • Location: Houston, TX
Re: Gauntlet: Long Term Net Worth Goals
« Reply #371 on: March 20, 2017, 08:39:27 AM »
It took us 2 years to go from -20K to 105K and for that first year we had not even learned The Way of The Mustache.
We currently down to 1 income so hopefully big lofty net worth goals will help us kick it up a notch
EOY             NW plan        NW Actual
2015              $100K             110K
2016              $175K
2017              $275K
2018              $400K
2019              $550K
2020              $725K
2021              $875K
2022              $1.0M
EOY             NW plan        NW Actual
2015              $100K             110K
2016              $175K             188K
2017              $300K
2018              $450K
2019              $625K
2020              $825K
2021              $1.025M
2022              $1.225M (FI)

Whoops, I never came back and update this at EOY.
Hubs was unemployed for 10 months in 2016 but we were still able to meet our NW goal (which shows they weren't lofty enough)!
Updated our targets going forward.  These are definitely stretch goals since our current plan is FIRE in 2025.
"The price of anything is the amount of life you exchange for it" - Henry David Thoreau

1/2017: INV-2.6x, NW-4.4x
Projected FIRE date: 2025
Journal.

recklesslysober

  • Bristles
  • ***
  • Posts: 274
  • Age: 29
Re: Gauntlet: Long Term Net Worth Goals
« Reply #372 on: March 20, 2017, 06:20:30 PM »
Following for inspiration. :)

My numbers (end of year):

2015: -$133K
2016: -$111K

2017: -$69K
2018: -$29K
2019: $11K
2020: $51K
2021: $91K

frugalfanny

  • 5 O'Clock Shadow
  • *
  • Posts: 65
Re: Gauntlet: Long Term Net Worth Goals
« Reply #373 on: March 20, 2017, 06:52:31 PM »
January 2015: $11k
January 2016: $27k
January 2017: $45k
January 2018: $62k
January 2023: $177k
January 2028: $280k

A reminder to try harder...

I'm already past January 2018's goal so I guess I need to make some updates.

January 2015: $11k
January 2016: $27k
January 2017: $45k 58k
January 2018: $62k 80k
January 2023: $177k 200k
January 2028: $280k 313k



Oil Patch Adams

  • 5 O'Clock Shadow
  • *
  • Posts: 69
Re: Gauntlet: Long Term Net Worth Goals
« Reply #374 on: March 20, 2017, 08:24:34 PM »

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
March 2017: $1M
5 months earlier than expected
December 2017: $1.2M