Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 94228 times)

Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #50 on: July 29, 2013, 07:16:33 PM »
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

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

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

Feels great to just put it in writing!! I've been so focused just on the debt number that i rarely look at the positive numbers..
"This is the life I chose or rather the life that chose me." - Jay-Z

FuckRx

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #51 on: July 30, 2013, 09:53:02 AM »
A little different than other but here we go....

current net worth: -$1,007,000 (2 condos, 2 students loans, credit cards, cars)
2014 goal: -$780,000
2015 goal: -$600,000
2016 goal: -$380,000

gecko10x

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #52 on: July 30, 2013, 10:07:38 AM »
I have to say I'm a bit envious of those of you who can move the needle by $200k/yr :-/

Johnny Aloha

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #53 on: July 30, 2013, 11:36:44 AM »
I want to dispose of a couple of poorly performing, poorly financed mistakes, but because I have owned them for so long the capital gain and depreciation recapture are not trivial.   A 1031 exchange is difficult to execute, because I'm over the conventional loan limit, and of course I can't refinance.  I would likely have to make up the difference in cash if I did an exchange.  I have a feeling I will fall prey to OMY, or worse, OM Decade.

Worst case scenario is that you don't do a 1031 exchange and end up paying 15% tax on the capital gain and depreciation recapture, right?  That's unpleasent but still a relatively low tax rate.

tomsang

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #54 on: July 30, 2013, 12:17:52 PM »
A little different than other but here we go....

current net worth: -$1,007,000 (2 condos, 2 students loans, credit cards, cars)
2014 goal: -$780,000
2015 goal: -$600,000
2016 goal: -$380,000

This looks more like debt vs. net worth.  Do you truly have a negative million in networth?  Condos and cars would be an asset which would offset the debt. 

FuckRx

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #55 on: July 30, 2013, 08:02:50 PM »

then maybe not...
how do you guys calculate net worth?

tomsang

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #56 on: July 30, 2013, 08:07:32 PM »
Networth = Assets - Liabilities.

So add up all of your asset and subtract off all of your liabilities.

Saving mom

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #57 on: July 30, 2013, 08:35:54 PM »
With home equity, we are at $1MM but not FI. Savings goal is 60% of net pay and we aren't remotely there. We are saving $50,000 per year and I was able to take a year off and live off savings. I really truly like to work and am fortunate to work in an industry that pays six figures base + bonus but after sitting in a cube for 50 hours a week for 6 weeks, I have a three year plan to bank a ton of money and then have us both dial back workloads or take time off to travel with kids.  I am selling my car to buy an older, more used one, cutting out cable and landline and turning up the thermostat. Looking at real estate investments and buying up distressed notes for personal investments. I would like to be at $3MM by 45 and that will have to involve making some well-timed, lucky investments.

tomatoprincess

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #58 on: July 30, 2013, 08:51:12 PM »
No long terms goals for me, have no idea what my life will be like (single, no kids currently).

Short term goal is to be at $100,000 by the end of this year. Currently at 80k, which means I need to add $4000 to the stash each month! Average income is $4900 per month right now...

ZiziPB

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #59 on: August 19, 2013, 10:26:56 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.

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.

Until I started reading this blog and forum a couple of months ago, retirement seemed like a distant dream.  Now it's a reality I know I can achieve within just a few years.  Yeah!



Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #60 on: January 03, 2014, 06:43:00 PM »
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

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

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

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

Did not hit the end of year goal of -$20k... Only made it to -$29k...set your goals high, right??
"This is the life I chose or rather the life that chose me." - Jay-Z

Rebecca Stapler

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #61 on: January 03, 2014, 06:46:20 PM »
I would love to have a zero net worth by January 1, 2015. But that is a wee bit too ambitious, so I'll aim for:

1/1/15: -$50,000
1/1/16: $0
1/1/17: $100,000
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Charlotte

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #62 on: January 04, 2014, 03:58:41 AM »
I would like to double our net worth in 5 1/2 years (thinking April of 2019), but this assumes DH keeps working (an unlikely assumption).

But I try not to focus on it too much because I become a bit obsessed and forget to live life along the way!

Abe

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #63 on: January 04, 2014, 08:45:38 AM »
We have a goal of saving $100k per year for the next 5 years, then up that to $220k per year once my residency is finished. We should be able to retire 5 years after that, but probably won't (I spent too much time training to be my own boss for only 5 years!).

marty998

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #64 on: January 04, 2014, 03:45:32 PM »
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

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

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

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

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

Yes but you gained $31,000. Which is so much better than being at -$60k and not setting a goal and not doing anything about it!

nawhite

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #65 on: January 06, 2014, 10:20:15 AM »
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!
We live in an RV full time while still working remotely. Check it out at http://therecklesschoice.com

ichangedmyname

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #66 on: January 06, 2014, 10:23:17 AM »
Reach $500k in 12 years or earlier.
http://luxefrugality.wordpress.com/ ~ where I share my journey to FIRE and Mustachianism and comments are appreciated ~

oldtoyota

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #67 on: January 11, 2014, 05:27:09 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!

Nice work!

iris lily

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #68 on: January 12, 2014, 10:40:08 AM »
2M in liquid assets plus paid-for house is my personal goal. It's achievable within 1 -2 years with a bullish stock market but that is a crapshoot to maintain. It would be fun to be there at a point, though, even if the market drops as it did in 2005.

SwordGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #69 on: January 12, 2014, 11:45:59 AM »
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.


pachnik

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #70 on: January 12, 2014, 12:05:18 PM »
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.

+1 I am right in this category with you SwordGuy. 

But anyway, my current net worth is $315,000.00 and for retirement I would like to have $600,000.00.  Basically I need to double my money.  Since I am not planning to retire for 10 years at the age of 59 it is doable.   

My plan is to grow the money that I have and at this point I am pretty much fully invested except for about $13,000.00.  The other part of my plan is to put $1,000/month into my RRSP which is 35% of my income.  I am going to work on saving a higher percentage of my income as well. 

MMMdude

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #71 on: January 12, 2014, 03:03:23 PM »
Net worth, end of 2013 - 1M including house
2014 - 1.1M
2015 - 1.25
2016 - 1.375
2017 - 1.5
2018 - 1.7
2019 - 1.9
2020 - 2.1

At that point I might be done.  Arghh, such a long ways to go still

Phoebe

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #72 on: January 14, 2014, 03:04:11 PM »
Love this thread!

Current: $507K
Goal 1: $750K by end of 2014 (age 30)
Goal 2: $1M by end of 2015 (age 31)

After that we'll be FIRE, so I may retire or work a bit longer, we'll see!!

oldtoyota

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #73 on: January 29, 2014, 04:22:10 AM »
Love this thread!

Current: $507K
Goal 1: $750K by end of 2014 (age 30)
Goal 2: $1M by end of 2015 (age 31)

After that we'll be FIRE, so I may retire or work a bit longer, we'll see!!

Wow. That is great! Socking away/earning $500K in two years is fairly remarkable. =-)

Shor

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #74 on: January 29, 2014, 01:36:55 PM »
Current Net Worth: $100k
Target Goal: $200k by 2018

Stretch goal is $225k in the same amount of time.
This will be done by trimming the everyday expenses and limiting some of the bigger upcoming future purchases. The target goal is only so low because I know that there will be certain big-ticket expenses coming up in the next 4 years...

brooklynmoney

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #75 on: February 02, 2014, 08:08:14 PM »
My goal is $1 million liquid as fast as I can achieve it, hopefully in about 3 years. I will still owe about maybe $279K on a mortgage at that point (even paying down extra every month), but will still feel much more secure. I think. Hoping I can sweat it out in my job until then. At that point will think about trying to find a more sustainable position/rewarding career maybe.

RaveOregon

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #76 on: February 04, 2014, 12:15:57 PM »
I ended 2012 at $30,000  and 2013 at about $65,000.

My gauntlet goals for the end of the following years are:

2015 - $112,000
2016 - $170,000
2017 - $220,000
2018 - $275,000
2019 - $335,000
2020 - $400,000

I probably will struggle on these even if I angle for a raise at work, grow my side income and cut my spending, but if it wasn't a stretch it wouldn't be good for the gauntlet!

catccc

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #77 on: February 04, 2014, 02:39:23 PM »
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


Blindsquirrel

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #78 on: February 23, 2014, 02:43:05 PM »
Ok, I kind of hesitate to throw this out there as our numbers are skewed high because we suck at Mustachianism from a playing defense perspective. In the offense part of the game we are above average. It takes about 74k a year of after tax dollars to fund our extravagant life style. (about 28k of this spending is toward parental support and house payments). Owe 171k on personal crib, 65k on a dumb mistake, these are our only debts.
 2014 goal is to invest/reduce debt by 200k this year including a generous 33k donation from our employers and about 12k in debt reduction. In 2014 my aim is to increase our real estate cash flow by $2000 a month as a stretch goal, $1600 as a target. (4 new rental houses at $800 a mo with 50% rule used, minimal leverage by means of line of credit to be used). End of 2014 goal is 2.3-2.4 M net worth and real estate income gross about 14k/month, net 7k. Allocation is about 40% real estate and 60% paper assets. All RE income is plowed back into RE.
  In 2015 we will do the same, end the year grossing   about 17k gross a month in rents, net about 8.5k. NW=2.6-2.7M at end of the year.

 2016 end at gross income off RE of 20k a month, net 10k/mo. NW=2.8-3M at end of year.

 Goals are based on very conservative returns.  Somewhere in here we will pull the plug on working unless another one of our elderly parents has problems. 48 is a decent age to quit. Dunno, may fall into OMY or two more. At 50 definitely done.  Really like my job and the people I work with.  We have been very fortunate.
Even a blind squirrel finds a nut once in awhile.

soccerluvof4

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #79 on: February 25, 2014, 09:40:14 AM »
Ok, See if this works out as planned. Been running these numbers conservatively for 2 months now. Currently slightly above 1.35M excluding Paid for house worth 550k.(No Mortgage) 350k Vacation Home (no Mortgage)

End of 2014 - 1.7M Figured tad low. Sale of paid for Vacation home @ 300 plus 50k savings
End of 2015-  1.8M
End of 2016- 1.9Mk
End of 2017- 2.3M 100K from savings and we will then downsize as kids go to college no more than 300k on house prefferably 250k but still will have 2 kids living with us.  Want this to be at 2.5 and above so working on that now and should be higher. But then be both done!

" In life you don't get what you deserve you get what you negotiate"

RedHotLama

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #80 on: February 25, 2014, 12:30:25 PM »
Over the past couple years our NW has gone up significantly.

Jan 2012: Just under $400k
Jan 2013: $535k
Jan 2014: $700

This is  mostly based on home equity based on purchase price ($80k), liquid cash (50K) and the rest retirement accounts (>$600k)

I think our goals would be
Jan 2015: $900k
Jan 2016: $1M without home equity included

Other goals are on the mortgage
Currently: $245k
Jan 2015: $225k
Jan 2016: <$200k

Another goal would be to start building an investment account
Currently: $7k
Jan 2015: $15k
Jan 2016: $30k

Also have 529 plans
Currently: $5.5k kid 1
Jan 2015: $12k kid 1, $5.5k kid 2

I think all that is my bare minimums. My priorities over that would be to further reduce the mortgage and some home updates, split 50/50.

This also assumes my wife continues to work with baby 2. Or else I'm going to need a major promotion. :)

Blindsquirrel

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #81 on: February 25, 2014, 05:13:48 PM »
SoccerLuvof4, you are really underestimating your NW by 900K, 2017 you will be >3.1M when the RE is included. Redhotlama- you have crossed the inflection point where returns get stupid! Awesome!
Even a blind squirrel finds a nut once in awhile.

totoro

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #82 on: February 25, 2014, 06:38:01 PM »
My goal is not a specific net worth goal. 

Mine is to do some of the work to prepare my business for sale (partial share sales) within 3-5 years.  This means that I need to start on a marketing plan this year and get a bit higher profile. 

The end goal is to take advantage of this tax exemption by structuring the sale of shares over a number of years: http://business.financialpost.com/2013/10/16/plan-to-take-full-advantage-of-business-owners-capital-gains-exemption/

sleepyguy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #83 on: February 26, 2014, 09:29:21 AM »
By 2020 NW: 1.4-1.5mil
...zzz...zzz...zzz...

soccerluvof4

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #84 on: February 26, 2014, 10:46:32 AM »
SoccerLuvof4, you are really underestimating your NW by 900K, 2017 you will be >3.1M when the RE is included. Redhotlama- you have crossed the inflection point where returns get stupid! Awesome!

I would love for that to be right!!! Luv the name by the way! gave a kid on one of my sons soccer team the name "Flying Squirrel" because he is all over the place! But , I use the Blindsquirrel  statement all the time! haha
" In life you don't get what you deserve you get what you negotiate"

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #85 on: June 16, 2014, 09:09:44 PM »
Okay, so it's been a year since this thread was started (or will be in a few weeks, at least, and I just finished my June NW update and thought of this thread).

How's everyone doing on the progress to their goals?

Here's my update - I posted the following about a year ago:
Here's my Net Worth Stretch Goals:
(Current - June 2013) 400k
1 Year (June 2014) - 525k
2 Years (June 2015) - 660k
3 Years (June 2016) - 800k

It turns out that having leveraged real estate that was purchased very low that shoots up a lot can give you ridiculous returns.  I actually hit that three year goal (for June 2016) in one year. In other words, I more than doubled my net worth in a year.  Of course, it's all paper value.  And it felt ridiculous each month to see it shooting up and up, but no different, I suppose, than if the stock market were shooting up and you were leveraged (or even if not) and gaining a lot in paper net worth.

It doesn't change my FIRE date at all, as I'm planning on FIREing on cash flow from rentals, and the paper value of the properties is irrelevant to me (I think they were undervalued a year ago, I think they're about where they should be, perhaps slightly overvalued, now).

In other words, I'd be just as fine FIREing holding 20 rentals giving me 70k annual cash flow with a net worth of 500k as I would be if they were valued on paper at 1.5MM (assuming the same properties, rents, debt service, etc.).  The higher paper value does have some benefits (in terms of refinancing and other options for being flexible), but ultimately it's not the driver of my FI date - regardless of the paper value, I have a number of rentals goal and a cash flow goal, not a net worth "number" goal that most have.  So it doesn't affect my FIRE date, but it is still neat to see.

With that fact in mind, and the fact that I should hit 1MM within the next year (kind of excited about that, since now I'll hit it before I turn 30, which is meaningless, but for some reason I still am sort of excited about), I'm not going to bother to set new goals (beyond the ones I have for number of rentals owned and amount of annual cash flow).  Mission accomplished, albeit in a weird way.

Hopefully my (stupid) results which had almost nothing to do with me won't discourage some of you from posting; I'm hoping to hear some of you hit your goals or are on your way!  Sooo...? :D
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."

Suit

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #86 on: June 16, 2014, 09:38:12 PM »
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #87 on: June 16, 2014, 09:39:40 PM »
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

Absolutely!  If you weren't around at the time, or just never posted, feel free to chime in!  :D
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."

imustachemystash

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #88 on: June 16, 2014, 10:27:37 PM »
That's so inspiring Arebelspy!  I am thrilled your investments worked out so well for you.  I have a stack of the real estate books you recommended sitting on my night stand waiting to be cracked open after the end of the school year. 

expatartist

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #89 on: June 16, 2014, 11:20:21 PM »
Very inspiring arebelspy! As real estate will be a big chunk of our retirement investments, it's really informative to see how you plan to make things work while traveling long-term, also that you're not letting paper value go to your head but are remaining focused on cashflow.
Enjoying the frugal life while living in 150 sqf in the world's most expensive city https://forum.mrmoneymustache.com/journals/squeezing-the-most-out-of-life-in-hcol-hong-kong/

sol

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #90 on: June 17, 2014, 12:38:08 AM »
How's everyone doing on the progress to their goals?

Great!  Like everyone else who was heavily invested a year ago, we're feeling pretty smug right now.  A great year for market returns and real estate combined to push our net worth waaay up.

One year ago my goal was to be FI in 2.5 years, so I still have 18 months left to get there.  Assuming no major economic meltdowns, we'll make it without any trouble.

pom

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #91 on: June 17, 2014, 03:18:48 AM »
I calculate based on income generation

Goal is to buy 40k euros worth of shares per year (which should generate an extra 100/month in dividends).

If I go part time after the baby is born, I will reduce that goal to 20k temporarily.

arebelspy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #92 on: June 17, 2014, 10:11:31 AM »
That's so inspiring Arebelspy!  I am thrilled your investments worked out so well for you.  I have a stack of the real estate books you recommended sitting on my night stand waiting to be cracked open after the end of the school year.

Awesome; real estate so much fun!  :)

Very inspiring arebelspy! As real estate will be a big chunk of our retirement investments, it's really informative to see how you plan to make things work while traveling long-term, also that you're not letting paper value go to your head but are remaining focused on cashflow.

Yeah, it feels kind of like cheating, but I'm not complaining, and since it doesn't really matter for our FIRE date, it's just a fun observation.

How's everyone doing on the progress to their goals?

Great!  Like everyone else who was heavily invested a year ago, we're feeling pretty smug right now.  A great year for market returns and real estate combined to push our net worth waaay up.

One year ago my goal was to be FI in 2.5 years, so I still have 18 months left to get there.  Assuming no major economic meltdowns, we'll make it without any trouble.

Good point.  Everyone who set any sort of realistic goal should be on track (barring a life disaster that may have set them back) or ahead.  Is everyone planning on setting new goals then, or assuming that at some point some of the gains will reverse, so keeping the original ones is still prudent?

Of course in 2012 and 2013 people were talking about how the market had been on a bull run since 2009, for 3-4 years, and it was overdue for a crash.  Some were pulling out cash in early 2012.  And we've seen what the market has done since then.  Stay the course, ups or downs, seems to be best.
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."

kkbmustang

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #93 on: June 17, 2014, 11:56:15 AM »
Congrats Arebelspy! So exciting!!!

The Hubs doesn't want to play, but I do.

Current: $455k
January 2015: $520k
January 2016: $600k
January 2017: $700k

I need to revise. These don't take into account mortgage reduction via regular monthly payments. Things will speed up once we sell the current house, downsize and no longer have private school tuition to contend with. At the same time, though, income will decrease for a variety of reasons. So, throwing a dart at the board, here we go (but subject to further revision):

January 2015: $550k
January 2016: $650k
January 2017: $775k

Based on back-of-the-napkin math and mint, right now we're at $545k. So, we should be about 5 months ahead of schedule.

lhamo

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #94 on: June 17, 2014, 04:10:43 PM »
We could probably consider ourselves FI now, based on the sale of our apartment at current values -- that would give us enough of a stash that we could do pretty much whatever we wanted.

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

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

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

Almost a year out from my original post.  Net worth is up 16.29%.  Looked back at ranges for the past five years and we have had annual net worth increases between 11% and almost 47%, so as long as the stock/property markets don't tank I think a 10% year on year increase is reasonable.

Job situation still not settled, but most likely will only be getting a small promotion and a modest raise.  Feeling extremely burned out at the moment and not sure how much longer I'm willing to put up with everything.    Will take a fair amount of convincing to get DH to consider leaving paid employment, though. 
Wherever you go, there you are

Wile E. Coyote

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #95 on: June 17, 2014, 04:35:15 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.

FrozenBits

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #96 on: June 17, 2014, 05:04:13 PM »
I'll join!  I don't have a very long track record for savings, because my wife and I are still fairly young (20 & 24), so my goals may be way off but here it goes.


Current NW = 80k

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

Ottawa

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #97 on: June 17, 2014, 05:17:42 PM »
Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M

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

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

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

Signing up for Tangerine Bank?  Let's both earn some cash!  Here is my Tangerine Key: 43684467S1  Cheers.

expatartist

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #98 on: June 17, 2014, 06:59:38 PM »
Almost a year out from my original post.  Net worth is up 16.29%.  Looked back at ranges for the past five years and we have had annual net worth increases between 11% and almost 47%, so as long as the stock/property markets don't tank I think a 10% year on year increase is reasonable.

Job situation still not settled, but most likely will only be getting a small promotion and a modest raise.  Feeling extremely burned out at the moment and not sure how much longer I'm willing to put up with everything.    Will take a fair amount of convincing to get DH to consider leaving paid employment, though. 

Congrats lhamo! It can be tough to keep a partner on the same page. Is some of his resistance to leaving paid employment cultural? Extended family pressure? (I currently have the opposite challenge; my partner is underemployed here, he's earning a fraction of what he's worth and he is convinced there are no jobs in his field in China...this is tough going in our accumulation phase)
Enjoying the frugal life while living in 150 sqf in the world's most expensive city https://forum.mrmoneymustache.com/journals/squeezing-the-most-out-of-life-in-hcol-hong-kong/

Suit

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #99 on: June 17, 2014, 07:45:18 PM »
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

Absolutely!  If you weren't around at the time, or just never posted, feel free to chime in!  :D

Great, excited to join!

Current investments and cash: slightly over $96k
Student Loans: slightly over $127k

Goals:
100k investments and savings by end of July (I'll need the stock market to cooperate a bit!)
Positive net worth by my 30th birthday next July
200k investments and savings by July 2017