Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 98544 times)

beege

  • 5 O'Clock Shadow
  • *
  • Posts: 41
  • Age: 30
  • Location: Alaska
  • Trying not to suck
Re: Gauntlet: Long Term Net Worth Goals
« Reply #400 on: June 19, 2017, 05:43:54 PM »
Yup. Not very good at estimating :) Though if I recall correctly from your earlier posts in this thread neither were you :-P

Anyways we've got a trumped up stock market which is making things look rosier than expected. We'll see how long it lasts /shrug
FIRE class of 2019

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 26902
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #401 on: June 19, 2017, 05:52:08 PM »
Yup. Not very good at estimating :) Though if I recall correctly from your earlier posts in this thread neither were you :-P

Haha, yeah. I passed my three year "stretch goal" in one year.

Underestimating stache growth (especially when you think you'll be OVERestimating it) is a great feeling.

Quote
Anyways we've got a trumped up stock market which is making things look rosier than expected. We'll see how long it lasts /shrug

There will definitely be a crash at some point. Who knows when.  :)
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."

Zaga

  • Handlebar Stache
  • *****
  • Posts: 1441
  • Age: 37
  • Location: North of Pittsburgh, PA
Re: Gauntlet: Long Term Net Worth Goals
« Reply #402 on: June 19, 2017, 06:39:47 PM »
Yup. Not very good at estimating :) Though if I recall correctly from your earlier posts in this thread neither were you :-P

Haha, yeah. I passed my three year "stretch goal" in one year.

Underestimating stache growth (especially when you think you'll be OVERestimating it) is a great feeling.

Quote
Anyways we've got a trumped up stock market which is making things look rosier than expected. We'll see how long it lasts /shrug

There will definitely be a crash at some point. Who knows when.  :)
Well *I'm* certainly not going to try and guess!

FrugalFisherman10

  • Stubble
  • **
  • Posts: 180
Re: Gauntlet: Long Term Net Worth Goals
« Reply #403 on: June 21, 2017, 01:33:34 PM »
Ok I want to get in on this too. ARS I like how you laid out the 'goal/underrun format' I'll call it.

I would like to have $1mil Net Worth by age 40.

I'm about to turn 27, so that means I have 13 years to go.
I am at $100k right now, so that means I have $900k to go.
That means I need to increase my NW by $70k per year.

Currently I make around $75k
after tax around $66k-68k
I spend around $25-30k
So I should be increasing my net worth based on savings alone by $36 - 42k per year (assuming no market dips -not a safe assumption)

That's a $28k per year gap at the low end, and $44k gap at the high end.

When put this way, the gap seems huge. I feel like I'm doing pretty good, but in reality, I have a substantial gap to make up each year..with no immediate prospects of how to do it (i.e. I don't own a bunch of rentals, am not trying to skim money through options, but am considering all the above. Also I could just wait till my salary increases and it will probably get a lot easier to close the gap around 35 haha)

Now this assumes:
1) no salary increases - unlikely assumption
2) no market returns - unlikely assumption
3) no change in spending - unlikely assumption (currently I'm single, and doubt that whoever I find to marry can live off of $0 dollars. but at that point the goal posts will likely change anyway. I've picked the $1mil number because it relates to $40k of annual spend, so there is room for increased spending if you look at it that way.)

anyway, it's good to put it out there. And to start thinking about how I can make up that $28k per year gap.

webguy

  • Stubble
  • **
  • Posts: 219
  • Age: 32
  • Location: Minnesota
Re: Gauntlet: Long Term Net Worth Goals
« Reply #404 on: July 03, 2017, 09:27:13 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...

Another 6 months have gone by so I'm revisiting to update the goals a little bit..

Current NW:  $1.535M
Jan 1 2018:  $1.75M
Jan 1 2019:  $2.2M

Dicey

  • Walrus Stache
  • *******
  • Posts: 6246
  • Age: 59
  • Location: NorCal
Re: Gauntlet: Long Term Net Worth Goals
« Reply #405 on: July 04, 2017, 08:00:11 AM »
Ok I want to get in on this too. ARS I like how you laid out the 'goal/underrun format' I'll call it.

I would like to have $1mil Net Worth by age 40.

I'm about to turn 27, so that means I have 13 years to go.
I am at $100k right now, so that means I have $900k to go.
That means I need to increase my NW by $70k per year.

Currently I make around $75k
after tax around $66k-68k
I spend around $25-30k
So I should be increasing my net worth based on savings alone by $36 - 42k per year (assuming no market dips -not a safe assumption)

That's a $28k per year gap at the low end, and $44k gap at the high end.

When put this way, the gap seems huge. I feel like I'm doing pretty good, but in reality, I have a substantial gap to make up each year..with no immediate prospects of how to do it (i.e. I don't own a bunch of rentals, am not trying to skim money through options, but am considering all the above. Also I could just wait till my salary increases and it will probably get a lot easier to close the gap around 35 haha)

Now this assumes:
1) no salary increases - unlikely assumption
2) no market returns - unlikely assumption
3) no change in spending - unlikely assumption (currently I'm single, and doubt that whoever I find to marry can live off of $0 dollars. but at that point the goal posts will likely change anyway. I've picked the $1mil number because it relates to $40k of annual spend, so there is room for increased spending if you look at it that way.)

anyway, it's good to put it out there. And to start thinking about how I can make up that $28k per year gap.
That's the beauty of compound interest. It  will do the heavy lifting for you. Keep doing what you're doing and eventually your investments will out earn you. The "gap" will take care of itself. You're off to an excellent start,
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

skip207

  • Stubble
  • **
  • Posts: 171
  • Location: UK
Re: Gauntlet: Long Term Net Worth Goals
« Reply #406 on: July 11, 2017, 01:33:34 PM »
Revised our plans over the last 6 months and also added some growth.  All my previous numbers have been based on 0% (i.e tracking inflation).  Now I am using 2% (over inflation).

This has taken some years off our FIRE date. 

I think we could hit 1M in 2025.  Previously I thought 2030.

Then the second part of this analysis that we did was do we *really* need 1M.  The answer is probably not, so we may be FI around 2022/3.  If we could RE in 2023 we would be really happy, but might do a couple more years and work down over that time.


SwordGuy

  • Magnum Stache
  • ******
  • Posts: 3359
  • Location: Fayetteville, NC
    • Flipping Fayetteville
Re: Gauntlet: Long Term Net Worth Goals
« Reply #407 on: July 12, 2017, 05:38:50 AM »
Ran across this posting of mine on this thread from quite a few years back and thought I would give an update:

For me, net worth isn't a useful measurement for FI.  That's because I have no debt and don't intend on selling my house, cars, or other household furnishings.

So I'll focus on current assets that can be used to support FI.    I'll assume the market only keeps pace with inflation, i.e, no compounding, so I'll ignore earnings and just list amounts in current dollars.

2013: $580,000
2014: $665,000
2015: $750,000
2016: $835,000
2017: $920,000
2018: $977,000  Assumes wife retires at 70.
2019: $1,034,000
2020: $1,091,000  Assumes I retire at 63.

3.5% withdrawal rate = $38,185 income plus $14,400 wife's SS = $52,285 income.   I'll hold off on my SS until 70 because it will be a much higher than my wife's.  Obviously, if the market does much better than just keeping pace with inflation, I could move my retirement date foreward a couple of years.   If not, not.

For those of you who are younger and want to learn from my mistakes...

We could be retired right now if we had changed our behaviour 10 years ago.

We could have retired 10 or more years ago if we had changed our behavior back in 1988 when I got my first decent paying job.

Actuals:
2015: $1,050,000 we got into the rental property business before this date and the stock investments grew.
          That's 4 years ahead of our estimate!
2016: $1,900,000 regular gains and savings, plus an inheritance.

New estimates:
2017: $2,030,000
2018: $2,200,000 Assumes wife retires at 70, we finish the house we're slow-flipping, and I retire at 60, 2 years ahead of schedule.

Goldy

  • Stubble
  • **
  • Posts: 101
Re: Gauntlet: Long Term Net Worth Goals
« Reply #408 on: July 12, 2017, 11:17:47 AM »
I'll play

Current NW $1.4

2008  $50,000
2013  $632,000
2014  $859,000
2015  $924,000
2016  $1,229,000

Goals
2017  $1,500,000
2018  $1,750,000  FI
2019  $2,000,000
2020  $2,300,000  FIRE?
2021  $2,600,000
2022  $2,900,000


chaskavitch

  • Stubble
  • **
  • Posts: 171
  • Age: 32
  • Location: Fort Collins, CO
Re: Gauntlet: Long Term Net Worth Goals
« Reply #409 on: July 12, 2017, 01:49:43 PM »
I have a giant spreadsheet of theoretical future salary increases and retirement account goals already, but I update the values to reflect actual account values at the end of the year, so I don't have a record of what I thought we would have anymore. 

These projected values are a little above what I've calculated with contribution increases and market returns, but I may as well be optimistic :)  I am being incredibly conservative about the increases in NW above and beyond retirement accounts, so it gets a little hand-wavey there anyhow.

Assumptions:
3% salary increase/yr, no bonuses, no promotions
6% market increase/yr
3% yearly contribution increase to 401k, until contribution max is hit

Current NW (including recent tax appraisal house value and mortgage): $272,573
Current retirement account totals: $114,000

End of year NW/retirement goals:
2017: $300,000/$145,000
2018: $355,000/$195,000
2019: $420,000/$250,000
2020: $500,000/$325,000
2021: $575,000/$385,000
2022: $650,000/$475,000

DH wants to retire by 2027 when he turns 40, and according to my projections we'll have almost $1 million in retirement accounts alone by then.  He thinks we'll need $2-$3 million, so with these goals we'll have to step it up a lot to get there. 

We'd also like to buy a house with more property and further out of town, and either rent this one out or sell it, so we're (very slowly) saving toward a down payment for that.

facepalm

  • Stubble
  • **
  • Posts: 126
  • Location: California
Re: Gauntlet: Long Term Net Worth Goals
« Reply #410 on: July 16, 2017, 10:57:56 AM »
Goals:

Dec-17 300,000
Jun-19 400,000
Dec-21 500,000
Just checked Personal Capital, and I'm sitting at 273,600. I'll be at 280K August 31, so I will definitely make my 300K goal by the end of the year. I still think 200K in two more years is doable, especially since I'll be able to contribute 36K to my 457b (special catch-up) in the second year.

I just found out that my last check did not have my 403b and 457b contributions taken out, nor did I make a contribution to my pension. IRS rules for teachers now require that I pay my taxes upfront on my final summer check--so my July check is just a lump sum with no deductions. Curses! So I have to modify my contributions to make sure I put 24K into each of my retirement accounts. That will cut my check to nothing, but at least it will mean paying no taxes! I have money saved so can draw from savings if need be.


There will definitely be a crash buying opportunity at some point. Who knows when.  :)

Fixed it for ya. :-}
« Last Edit: July 16, 2017, 11:10:59 AM by facepalm »

NinetyFour

  • Magnum Stache
  • ******
  • Posts: 4732
  • Location: Southwestern US
  • 151 days until Freedom!
Re: Gauntlet: Long Term Net Worth Goals
« Reply #411 on: July 18, 2017, 08:24:42 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.

My NW (including house) is now $742,946.  On track to hit my (original) goal of $840K in July 2018, when I will retire.  It's beginning to feel real...and scary...
My Journal

Countdown to Freedom:  151 days; 16 weeks of classes; 48 days of classes

NinetyFour

  • Magnum Stache
  • ******
  • Posts: 4732
  • Location: Southwestern US
  • 151 days until Freedom!
Re: Gauntlet: Long Term Net Worth Goals
« Reply #412 on: November 17, 2017, 03:54:39 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.

My NW (including house) is now $742,946.  On track to hit my (original) goal of $840K in July 2018, when I will retire.  It's beginning to feel real...and scary...

Now at $803,225...
My Journal

Countdown to Freedom:  151 days; 16 weeks of classes; 48 days of classes

lexde

  • Pencil Stache
  • ****
  • Posts: 537
  • Age: 27
Re: Gauntlet: Long Term Net Worth Goals
« Reply #413 on: November 17, 2017, 05:14:49 AM »
My net worth is -$2500 right now. Goal is to be debt free by 12/31/18 which is another 32.5k on my 65k salary (about 48k take home).

My ultimate goal is $1M (single) and I’d like to achieve it before 40. I’m 27 now.

So my biggest challenge at this point is my income and I have a few options: (1) lateral external promotion; (2) bring in clients and get a portion of all fees as an originating attorney at my firm; (3) bill more hours and receive monthly bonuses from $250-1250; (4) get a side-job and/or passive income stream; or (5) a combination of (2)-(4), which is what I think I want to do as my firm environment is awesome compared to my peers’.

I am going to aim for 80k gross income next year. An extra 15k is a stretch for me but I want to make it happen. Bank bonuses, credit card churning, finding clients for bankruptcy on the side, selling possessions, billing extra hours (if I can get them) and anything else to bump my numbers up.

Stretch goal for 2018 is debt-free by the end of August.
Stretch goal for 2019 is 6-figure income.

marty998

  • Magnum Stache
  • ******
  • Posts: 4903
  • Location: Sydney, Oz
Re: Gauntlet: Long Term Net Worth Goals
« Reply #414 on: November 17, 2017, 03:06:41 PM »
Ok I'll play

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


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...


$897k at the end of 2016 and $1,085k today. Already nearly surpassed the 2018 goal from back then.

Starting to notice the dividends compounding too which is great. Hard to know what the new goals should be, so much is determined by markets now instead of savings.

Dicey

  • Walrus Stache
  • *******
  • Posts: 6246
  • Age: 59
  • Location: NorCal
Re: Gauntlet: Long Term Net Worth Goals
« Reply #415 on: November 18, 2017, 12:38:31 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.

My NW (including house) is now $742,946.  On track to hit my (original) goal of $840K in July 2018, when I will retire.  It's beginning to feel real...and scary...


Now at $803,225.
..
When are you going to pull the trigger? Come on in, the water's fine!
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

TravelingCheddar

  • 5 O'Clock Shadow
  • *
  • Posts: 28
Re: Gauntlet: Long Term Net Worth Goals
« Reply #416 on: November 18, 2017, 01:22:49 AM »
I wanna play... I have spreadsheets galore already but why not!? plus I think it will be quite easy to predict Jan 2018 since it's right around the corner...crossing my fingers for big bucks and no whammies! These are stretch goals so I wouldn't be surprised if I come up a little short.

Current NW Nov 2017: -16,980

Jan 2018: -9,000
Jan 2019: 40,119
Jan 2020: 90,465
Jan 2021: 142,406
Jan 2022: 230,776
Jan 2023: 333,859
Jan 2024: 430,548
Jan 2025: 580,185
Dec 2026: 750,000 (FIRE GOAL)
« Last Edit: November 18, 2017, 01:24:47 AM by TravelingCheddar »

SnackDog

  • Pencil Stache
  • ****
  • Posts: 986
  • Location: Latin America
Re: Gauntlet: Long Term Net Worth Goals
« Reply #417 on: November 18, 2017, 02:16:37 AM »
These goals are not very actionable for us. As our spending is pretty constant, all I can do to boost net worth is work harder (and/or more years) and play games with stocks.  I already work hard enough and have burned my fingers a few times on stocks.  So, basically net worth increases for us will be fairly passive - if real estate and stock investments gain so will we. If they crash, we crash. (Like everyone else we are greedily awaiting the Big Crash to sell some bonds but something tells me it will be different next time.)
The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind. –Thomas T. Munger

matchewed

  • Magnum Stache
  • ******
  • Posts: 4082
  • Location: CT
Re: Gauntlet: Long Term Net Worth Goals
« Reply #418 on: November 18, 2017, 04:16:50 AM »
Current Net Worth $150k

$200k by beginning of 2015

$300k by mid 2017

$400k by mid 2019

and FI($500k) by early 2021

This is my conservative plan so it may be impacted by some job/life changes I see coming on the horizon.

Well a four year update is interesting. Lots happened between then and now. Current net worth with house = $285k. So I'm behind on the original plan but there was a gap of no income in the middle with school and now our (was only my) income is much higher and diversified. So I'd still say we're on track even if it looks as we're behind as our savings rate is much higher as an us than as a me.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 26902
  • Age: -999
  • Location: Traveling the World
Re: Gauntlet: Long Term Net Worth Goals
« Reply #419 on: November 18, 2017, 07:08:37 AM »
These goals are not very actionable for us. As our spending is pretty constant, all I can do to boost net worth is work harder (and/or more years) and play games with stocks.  I already work hard enough and have burned my fingers a few times on stocks.  So, basically net worth increases for us will be fairly passive - if real estate and stock investments gain so will we. If they crash, we crash. (Like everyone else we are greedily awaiting the Big Crash to sell some bonds but something tells me it will be different next time.)

More like projected milestones than goals, then. :)

Current Net Worth $150k

$200k by beginning of 2015

$300k by mid 2017

$400k by mid 2019

and FI($500k) by early 2021

This is my conservative plan so it may be impacted by some job/life changes I see coming on the horizon.

Well a four year update is interesting. Lots happened between then and now. Current net worth with house = $285k. So I'm behind on the original plan but there was a gap of no income in the middle with school and now our (was only my) income is much higher and diversified. So I'd still say we're on track even if it looks as we're behind as our savings rate is much higher as an us than as a me.

Nice!  I'd much rather be a bit behind, with large expected growth and upward trends,, than ahead but with slow expected growth or a flattening trend. :)
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."

NinetyFour

  • Magnum Stache
  • ******
  • Posts: 4732
  • Location: Southwestern US
  • 151 days until Freedom!
Re: Gauntlet: Long Term Net Worth Goals
« Reply #420 on: November 18, 2017, 07:10:31 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.

My NW (including house) is now $742,946.  On track to hit my (original) goal of $840K in July 2018, when I will retire.  It's beginning to feel real...and scary...


Now at $803,225.
..
When are you going to pull the trigger? Come on in, the water's fine!

Soon!!!  :)

Only 152 more days.  I am on the academic schedule, so I can't just up and quit any old time.  Well, I suppose I could, but not without burning some major bridges.

One more semester.......  :)
My Journal

Countdown to Freedom:  151 days; 16 weeks of classes; 48 days of classes

matchewed

  • Magnum Stache
  • ******
  • Posts: 4082
  • Location: CT
Re: Gauntlet: Long Term Net Worth Goals
« Reply #421 on: November 18, 2017, 07:41:55 AM »

Current Net Worth $150k

$200k by beginning of 2015

$300k by mid 2017

$400k by mid 2019

and FI($500k) by early 2021

This is my conservative plan so it may be impacted by some job/life changes I see coming on the horizon.

Well a four year update is interesting. Lots happened between then and now. Current net worth with house = $285k. So I'm behind on the original plan but there was a gap of no income in the middle with school and now our (was only my) income is much higher and diversified. So I'd still say we're on track even if it looks as we're behind as our savings rate is much higher as an us than as a me.

Nice!  I'd much rather be a bit behind, with large expected growth and upward trends,, than ahead but with slow expected growth or a flattening trend. :)

Very much agree, plus the plan has changed so much (and in some perspectives not at all) in four years that I'm not surprised at the results. Our combined income is mind boggling to me. My past self was making plans off of a 42kish income, my current self is looking at combined household income of more than three times as much (partner + education = OMGWTF DO I DO WITH ALL THIS $? oh yeah invest it).

It all makes the OMY syndrome seem strange (stranger is probably more accurate) to me. Barring the market just tanking I'm definitely pressing the FIRE button on reaching the goal.

Hirondelle

  • 5 O'Clock Shadow
  • *
  • Posts: 41
Re: Gauntlet: Long Term Net Worth Goals
« Reply #422 on: November 18, 2017, 07:43:18 AM »
Current net worth: EUR 12,500

Just started my first 'real job' with a 4 year contract and fixed salary raises.
I'm aiming at saving EUR 1000/month.

Nov 2018: 25k
Nov 2019: 38k
Nov 2020: 52k
Nov 2021 (end of contract): 66k

neo von retorch

  • Magnum Stache
  • ******
  • Posts: 2633
  • Location: SE PA
    • Fi@retorch - personal finance tracking
Re: Gauntlet: Long Term Net Worth Goals
« Reply #423 on: November 18, 2017, 10:26:09 AM »
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.

As we approach the end of 2017, 231k invested, 555k real estate, 396k debts for a net worth around $390k. (Add in liquid, and we're at $400k!) We're ahead of schedule based on this revised plan.

2Birds1Stone

  • Magnum Stache
  • ******
  • Posts: 3124
  • Age: 30
  • Location: New York
  • Peter Gibbons
Re: Gauntlet: Long Term Net Worth Goals
« Reply #424 on: November 18, 2017, 11:00:55 AM »
Late to the party but here are my annual goals to FIRE

Start of
2015 - 105k Check
2016 - 135k Check
2017 - 170k Check
2018 - 210k ~$350k Actual
2019 - 255k Already over, $400k revised
2020 - 305k Already over, $500k revised
2021 - 360k Who knows, I'll be returning from a year off work
2022 - 420k
2023 - 485k
2024 - 555k
2025 - 630k
2026 - 710k
2027 - 795k
2028 - 885k
2029 - 1 Million (FIRE!! @ 42 years old)

Funny to look back on this almost 3 years later.

Things have definitely moved along faster than I had anticipated. At my current projection I will hit $1 Million sometime in 2026.......but I don't even have a goal to hit $1 Million any more. Taking a sabbatical in spring of 2020 and after that I am unsure in what capacity I will be returning to the workforce. Once I accumulate ~$650-750k I will be semi FIRE'd or FI and slow traveling.
"A small house can hold as much happiness as a big one." - Fortune Cookie

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