Here's my Net Worth Stretch Goals:I'm sorry, didn't you post a while back that you've achieved FI?
Here's my Net Worth Stretch Goals:I'm sorry, didn't you post a while back that you've achieved FI?
I just have one $1m/$2m net worth individual/together ignoring primary residence. Need to save approx $100k/yr for 6-7 yrs to get there. Woot. If returns in the market are non-zero, so much the better/sooner
Having thought about it for the purposes of this thread, my new stretch goal is to be FI by the end of 2015.
I doubt we'll actually quit at that point, since we like our jobs and have great work/life balance. Running the numbers, if we work another five or ten years I'm really not sure what we'd do with all of the extra money. We don't want for anything as it is.
This encouraged me to put to virtual paper some of my shorter and longer term goals, both financial and personal.
Thanks!
One of these is actually to avoid wasting time on the Internet for the remainder of July, so... won't be here till August :)
I want to hit $1MM by the time I'm 30. My current trajectory has me falling short by ~$200K or so, but assumes my income doesn't change. So if I can keep my expenses low and secure some raises I think I can get there.
Here's my Net Worth Stretch Goals:I'm sorry, didn't you post a while back that you've achieved FI?
It was FI with a big asterisk/caveat - we're FI basd on our current spending levels, but we're planning on kids and lots of travel in FIRE, so our current budget is only about half of where we want to be for our final income level (thus the net worth being about half of my final goal). We should easily hit that in four years, but I'm shooting for 3.
So if we both lost our jobs tomorrow, we could keep living comfortably on income from our stache (and even increase our spending by probably 10k annually).. But we couldn't hit all the FIRE goals we want. So.. Not really fully FI, no, but a semi-FI milestone.
So yes, kids and travel are on our hedonic treadmill path. :)
The Hubs doesn't want to play, but I do.
Current: $455k
January 2015: $520k
January 2016: $600k
January 2017: $700k
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
Could you explain a bit more--for a semi-newbie to some of this info--how you would be semi-FI on $400K? How would that money provide the $25-30K you need to live on now?
Could you explain a bit more--for a semi-newbie to some of this info--how you would be semi-FI on $400K? How would that money provide the $25-30K you need to live on now?
Rental income on properties done right (and at the right time). That 400k provides us a decent bit more than 30k, even with very conservative estimates for repairs, vacancies, etc. (And it actually provides even more because we manage our own properties, but I don't count that, it'd provide us over that 30k even if we were paying for a manager, and I don't count the principal pay down on mortgages, tax benefits or appreciation, just cash flow, for FIRE purposes.)
I expect to FIRE on a "SWR" of more than double what I'd recommend someone in equities but it won't be a true withdrawal rate, as nothing will be withdrawn (indeed, with principal paydown on low interest loans and appreciation we should have a healthy savings rate and increasing net worth in FIRE).
The next 400k won't provide the same yield as the first, due to the ridiculous opportunity that was US real estate in 2009-2011, but it'll still provide more than a traditional SWR.
I plan on holding six-plus figures in equities, but that'll just sit for a long time growing untouched (30, 40 years?), maybe forever. (Though ideally I'll eventually exit real estate into full equities and have a more traditional SWR around 3%, I don't know if that will ever actually happen.) For now I'm using it to rapidly accelerate FI and be able to FIRE with about half the stache I'd need if I were in a more traditional situation.
IIRC my "I hit FI" thread in the journals section provides a little more info.
Just not sure when I'll actually retire.
Just not sure when I'll actually retire.
All you need is enough.
;)
< Image of Fry squinting >
Just not sure when I'll actually retire.
All you need is enough.
;)
Why would you SELL assets that are providing you a high SWR with no decumulation and growth of principal?
Ah, thanks. Although I think you might have a reality check coming on that kids-hedonic treadmill correlation!It was FI with a big asterisk/caveat - we're FI basd on our current spending levels, but we're planning on kids and lots of travel in FIRE, so our current budget is only about half of where we want to be for our final income level (thus the net worth being about half of my final goal). We should easily hit that in four years, but I'm shooting for 3.Here's my Net Worth Stretch Goals:I'm sorry, didn't you post a while back that you've achieved FI?
So if we both lost our jobs tomorrow, we could keep living comfortably on income from our stache (and even increase our spending by probably 10k annually).. But we couldn't hit all the FIRE goals we want. So.. Not really fully FI, no, but a semi-FI milestone.
So yes, kids and travel are on our hedonic treadmill path. :)
Although I think you might have a reality check coming on that kids-hedonic treadmill correlation!
Reading your subsequent posts about the long-term plan for your rental properties, I have to admit that I'm increasingly skeptical/cynical about "landlord exit plans". I think the term is oxymoronic unless landlords set hard & fast deadlines on valuation or a calendar. Otherwise it turns into a terminal case of "just one more year" syndrome.
This encouraged me to put to virtual paper some of my shorter and longer term goals, both financial and personal.
Thanks!
One of these is actually to avoid wasting time on the Internet for the remainder of July, so... won't be here till August :)
I wouldn't necessarily call reading financial stuff on MMM/forum wasting time, but it might be depending on the person. :)
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.
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
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..
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??
Net worth = $0 by January 2014. And its going to be amazing!
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!
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.
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!!
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!
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
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?
How's everyone doing on the progress to their goals?
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.
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.
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.
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
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.
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
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!
March 2017 will by my 30th birthday and my DW and I are planning on downshifting our life when the student loans are done. At that point, we'll have enough in the retirement accounts that we never need to save for a normal retirement again (they should grow to about $700k by the time we're 65). At that point we go to "only work enough to earn enough to live." I may go part time with my job and save a bit more or I might just quit for good and be a SAHD. We'll see. NW goals first.
March 2017 will by my 30th birthday and my DW and I are planning on downshifting our life when the student loans are done. At that point, we'll have enough in the retirement accounts that we never need to save for a normal retirement again (they should grow to about $700k by the time we're 65). At that point we go to "only work enough to earn enough to live." I may go part time with my job and save a bit more or I might just quit for good and be a SAHD. We'll see. NW goals first.
That's awesome. I love that "assets will grow to hit full FI without me touching them, so we'll just work the minimum amount for living expenses" idea.
March 2017 will by my 30th birthday and my DW and I are planning on downshifting our life when the student loans are done. At that point, we'll have enough in the retirement accounts that we never need to save for a normal retirement again (they should grow to about $700k by the time we're 65). At that point we go to "only work enough to earn enough to live." I may go part time with my job and save a bit more or I might just quit for good and be a SAHD. We'll see. NW goals first.
That's awesome. I love that "assets will grow to hit full FI without me touching them, so we'll just work the minimum amount for living expenses" idea.
I've heard a few people on here who have similar plans. I wish it had an acronym like FIRE though that was catchy. We won't technically be financially independent so I can't use that one. Maybe "downshifting" would work?
I've heard a few people on here who have similar plans. I wish it had an acronym like FIRE though that was catchy. We won't technically be financially independent so I can't use that one. Maybe "downshifting" would work?
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.
Yes, I think part of it is cultural, though ironically many people in China retire at 55 (his current age). I think he also has an even worse case of "bag lady syndrome" than I do, and mine is a pretty serious case. He also has a hard time with the idea of homeschooling, and there are no satisfactory school options in his hometown, so it has been hard to get him to see the "we'll sell the apartment in Beijing, buy a very nice place in hometown, and homeschool the kids while living off the profits of the apartment sale" option as being a viable one. I have pitched the idea of us actually setting up our own international school in hometown to him, but he doesn't seem interested in that, either. We'll see. One thing I know about myself is that when things reach a crisis point I can be pretty intense about working out alternative plans. I hope it won't get to that, but waiting to see what happens with the finalization of my role/compensation package. The stress has been so high the past few months (I have had 4 months straight of working 10-12 hour days, including lots of weekend work that I don't get comp time for) that I am near the breaking point. Just finished a major event yesterday and hopefully will have some other very stressful stuff wrapped up by the end of the week, so maybe that will help make things feel less dire.
Can I ask what field your partner is in? I have a bit of a knack for helping people find jobs.
Next milestones:
$1.03m (current)
$1.7m
$2.4m
$3.4m
$4.7m
Next milestones:
$1.03m (current)
$1.7m
$2.4m
$3.4m
$4.7m
No dates for those? :)
This is a very interesting thread, but honestly I don't know what's are not worth the goal should be. Right now we are at around 800 K. While we have been working on reducing expenses and working on the budget, I don't know what our savings rate will be, or what's coming next. Hmmm. You've given me something to think about.
Thanks ARS... sorry to stray off topic.
BTW, good to read a bit more about your own story. Somehow, even though you are probably the most visible member of the forum, I have missed the details of your own FIRE journey.
Further broken down goal (all End-of-year):
2013: $78k
2014: $105k
2018: $300k
2021: $550k
2025: $1m
The above goal was conceived early or mid 2012 @ ~$50k. Currently we are at ~$84k. It hinges almost exclusively on if my [amazing] wife can go from $0 income -> $50k/yr working from home in the next few years, so I already feel it's a bit of a stretch, but we are ahead of the curve so far, so that's a good sign.
Ok - day late and a dollar short but my long term net worth goals are
Net Worth Stretch Goals:
(Current - June 2014) 320k
1 Year (June 2015) - 400k
2 Years (June 2016) - 500k
3 Years (June 2017) - 620k
5 years FI for sure
10 years 1,000,000 (insert evil laugh)
My goal will mean saving 4 full years of salary in 3 years (i.e. no spending). My current spending/savings rate has us falling 120k short- so that is a lot of side work, good returns or making a real estate project I've been thinking about work out. I'd be FI if I could pull off the stretch goal though.
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:Mid-2014 Check-in: We are currently at -$78,000.
1/1/15: -$50,000
1/1/16: $0
1/1/17: $100,000
That's awesome Keith, I love the goal to grow it every year (though hopefully with compounding it'll do that on its own, even if the amount you put in is flat). :)
That's awesome Keith, I love the goal to grow it every year (though hopefully with compounding it'll do that on its own, even if the amount you put in is flat). :)
Thanks! Yeah with good market returns it should easily continue to grow each year with the compounding. These are pretty conservative estimates. I will probably make slight adjustments as I go, since they may end up being "too easy" - will find out next July!
That's awesome Keith, I love the goal to grow it every year (though hopefully with compounding it'll do that on its own, even if the amount you put in is flat). :)
Thanks! Yeah with good market returns it should easily continue to grow each year with the compounding. These are pretty conservative estimates. I will probably make slight adjustments as I go, since they may end up being "too easy" - will find out next July!
Or sooner, hopefully. ;)
We hit the $2M mark for net worth this month and went out to dinner to celebrate. I ordered a glass of wine that was $25 and since this was a really good restaurant (and not pretentious) the wine really WAS great! Now I may seek out a bottle of it, it was a Silver Oak Cabernet. We've got about $1.5M in financial instruments. We are old and not retired--yet. but soon. :)
It's hard for me to set goals here, because really, my goals are "As much as possible."
The other thing is that I can just increase risk to the level of the roulette table. I put 50K on a number and I have a 1/38 chance of being able to retire tomorrow.
Okay, but that doesn't increase your risk-adjusted amounts. The idea should be to maximize your net worth/decrease your time to FI. The highest probability of doing that is not gambling. So you should set goals around the plan that gives you the greatest chance, not the one that gives you a longshot.
My NW Goals:
12/31/13: -71,000
07/01/14: 6,900 (current)
12/31/14: 42,000
12/31/15: 143,000
12/31/16: 241,000
12/31/17: 360,000
My NW Goals:
12/31/13: -71,000
07/01/14: 6,900 (current)
12/31/14: 42,000
12/31/15: 143,000
12/31/16: 241,000
12/31/17: 360,000
Would love to hear how you gained 78k NW in only 6 months! (And why you think you'll only gain half that, 35k, in the next six.) That's pretty badass! :D
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
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?
Absolutely! If you weren't around at the time, or just never posted, feel free to chime in! :D
Great, excited to join!
Current investments and cash: slightly over $96k
Student Loans: slightly over $127k
Goals:
100k investments and savings by end of July (I'll need the stock market to cooperate a bit!)
Positive net worth by my 30th birthday next July
200k investments and savings by July 2017
Today I hit 100k in investments and savings!!
Updated goals:
Positive net worth by next March 2015
200k in investment and savings by July 2016
1 mil in investments and savings by the end of 2025
My long term goal is to have enough F-U leverage to work 20-30 hrs/week as soon as possible. I'd then continue to save until I was completely FI in order to be more selective, take a sabbatical, volunteer for causes instead of part time work, etc. I like the social aspects of work but not the 9-5 and limited vacation part.
That said (and a lot of this depends on whether I keep my current house as a rental, and what healthcare looks like), my long term goals
1. Pay off family loan by 30, take that money and build taxable accounts. At this point the house can become a profitable rental.
2. Fully FI by 45, shooting for selective employment by 40.
FU = 80k in taxable investments, enough for 3-5 years of expenses.
FI w/ paid off mortgage = 325k
FI w/o paid off mortgage = 600k
The first goal is attainable, the second may happen sooner or later than current projections because 15 years is a lot to speculate from the beginning of a career.
I hit a fun milestone last month - $100k in assets! (technically it's a bit higher, but that figure only counts equity in the house rather than market value for extra motivation) It's not net worth, just total assets, but it's a six figure number!
Congrats! Feels good to hit nice round numbers. Keep stackin.
Target is $1.54 million by January 2017.
We count in British pounds where I live, so that's £1 million. Am currently on track.
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??
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 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.
Currently just over $700k. Goal is $1M in 3 years.
[snip]
If you're FI, that means you have a choice on whether or not to give a crap about business jargon like "Stretch Goals". After all, if you come up short on a stretch goal are you going to claw back your bonus?
Our net worth goal: well, we don't really have one.
@The_Dude, congratulations! That is fantastic! I hope to join you in the second comma club in the next 6 -12 months.
Thanks!If you're FI, that means you have a choice on whether or not to give a crap about business jargon like "Stretch Goals". After all, if you come up short on a stretch goal are you going to claw back your bonus?
Our net worth goal: well, we don't really have one.
I love this, Nords! Somehow while I was out enjoying life, I missed this thread.
During my working years, I calculated my net worth monthly and posted it on my home office wall using brightly colored sticky notes. (Who needs Mint, I ask you?) Recently, at FIRE plus almost 2 years, I found the rainbow stack and moved the numbers to a spreadsheet. What struck me was how fast things add up once there's something compound-able in your investment accounts. So the point of this post is to say don't be discouraged if you're far away from FIRE. If you keep plugging at it, it will happen.
Late to the game, but I will jump in as I'm bad at keeping track of things and I'd love to have a post to look back upon in 1, 2, and 5 years.
Current: $217k
Jan 1, 2015: $230k (will take a little bit of returns and/or stronger saving)
Jan 1, 2016: $275k
Jan 1, 2017: $325k
Jan 1, 2018: $385k
Jan 1, 2019: $450k
If autopilot-type saving (IRA/401k) is ~$25k/year, should I be throwing down stronger goals than this?
Cheddar,
Thanks for your reply. Here's some more fidelity:
Salary is $105k, with the possibility of my spouse making $35k (but we will be geographically separated from Nov-May). No kids (will probably wait 3 years and have 2 of them) and I'm 30, while she is 28. I'll be going to Africa for my job (the aforementioned Nov-May) and shouldn't spend much at all there. After that we should be moving somewhere. I didn't give budgetary details because they will be entirely up in the air until after next summer! 10% goes to charity, effective tax rate has been around 15% (I think, but we are newlyweds so I have no clue how much less that will be). We are also putting away ~$1000/month for a combination of a down payment & car replacement savings.
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
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.
(Kick me off the forum for the wahh wahh complainypants in this post :P )
We just hit 6 figures in investible assets last week (retirement account minus debts). My general net worth goal from here on out is to increase our net worth more each year than the year before. Obviously the way the stock market goes will have a large impact on the possiblilty of that happening, so my more specific goals are reducing debt by more than $1K a month and investing at least 15% of gross income in tax advantaged accounts, between those two things we had a savings rate in 2012 of 44% of net and this year should be even higher.Not surprisingly our circumstances have changed since 1.5 years ago. We're at $175K investible assets now, but our savings rate hasn't reached 44% this year, more like 30%. Still going in the right direction, just slow for the nonce.
Ultimately we want a passive income of $40K, which is plenty for us to live very comfortably in our paid for house.
These are definitely stretch goals - how do you guys feel about setting ones that seem like a low % success rate?Better to aim high and get close than the reverse. I'm glad to see you have upped your savings goals. May I suggest that you treat your African posting as a game to see how much you can save? The bigger nest egg you can amass early, the less you will have to save to reach your goals. That's the only measure of success that matters in this particular race.
Better to aim high and get close than the reverse. I'm glad to see you have upped your savings goals. May I suggest that you treat your African posting as a game to see how much you can save? The bigger nest egg you can amass early, the less you will have to save to reach your goals. That's the only measure of success that matters in this particular race.
Our goals are:
2015:150,000
2016: 210,000
2017:250,000
2014: $60,000 (+24,000)2014: $77,000 (+37,000)
2015: $90,000 (+30,000)
2016: $125,000 (+35,000)
2017: $160,000 (+35,000)
2018: $200,000 (+40,000)
2019: $250,000 (+50,000)
2020: $300,000 (+50,000) Milestone 1
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. :)
So much badassity in this thread. I love it.Agreed! Happy new year!
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.
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.
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
Our goals are:
2015:150,000
2016: 210,000
2017:250,000
Why are you expecting a 60k change between '15 & '16, but only a 40k change between '16 and '17? Does this have to do with crop cycling?
Nice!: Yes, that is exactly it. This past year was a better year than normal on the farm, that is why there is the difference. But - from 16'-17' we stayed on the conservitive side when predicting how it might do. Great catch!
Current NW: $450k (down around 30k due to the stoooopid PP performance... grrr... ok I'll stop)
I consider this FI as in I could easily live on this indefinitely... just not in my current city (SF).
Adding around 100k/year.
Target NW: 1m (I refuse to use MM because that makes me think of "mega millions!!!!")
This would nominally take 5 more years. I chose it just because it's a nice round number that is way above my actual needs, but it's good to buffer against the unknown. Problem is, there will come a time when I'd probably have to leave within a year. At the tail end of "within a year," I'd hope to have around 700k at age 35, which was my original goal. My current living situation requires around 500k in capital, plus I'd need to eat. I'd have around $666/mo for food and other basic living expenses, and I could take odd jobs or freelance for "fun money".
I could also take another job somewhere else for a few more years and shoot for 1m by age 40. By that time, I could be married, I could have kids... who knows? I guess that's why we emphasize flexibility around here... I'm sure it will work out but I really don't know when I'll pull the trigger... I just know it isn't right now.
edit: OK, so my stretch goal is 1 m at age 35 (very loosely defined as before I turn 36) -- i.e. double my net worth in 3 years. 300k can come from my current savings trajectory, leaving a 200k shortfall, which is $67k/year. I could attain this level bonus by working 1000 extra hours each year (19 hours per week... or perhaps 10 hours every saturday and sunday). Possible but not likely. On the other hand, I could attain an 11% CAGR in my investments. Also possible, but not likely. Some combination of the above? That's why they call it a stretch goal.
The more of this thread I read, the more I think the long term net worth challenge should be to minimize it. Like any schmuck with a decent job can save 50% and work for 40 years and end up a multimillionaire. That's not even a challenge.
Seriously, which of those people do you think is more badass?
Otherwise, this gauntlet is just "who has the highest paying job and can endure doing it the longest?" and that doesn't really seem in line with what we're all trying to accomplish here. Namely, getting out from under our jobs.
The more of this thread I read, the more I think the long term net worth challenge should be to minimize it. Like any schmuck with a decent job can save 50% and work for 40 years and end up a multimillionaire. That's not even a challenge.
But deliberately limiting your net worth because you know you don't need more money? Pulling the trigger on early retirement at age 30 with only $450,000 in the bank? That's a challenge. It requires a certain intimate familiarity with your real spending patterns, a willingness to make sacrifices or find more income in the event of a downturn, confidence in your asset allocation, and balls of steel.
I give much more respect to the family of six that FIREs on $500k than I do to the unmarried investment banker who punches out with "only" 2 million instead of the 7 he was originally planning on. Seriously, which of those people do you think is more badass?
Otherwise, this gauntlet is just "who has the highest paying job and can endure doing it the longest?" and that doesn't really seem in line with what we're all trying to accomplish here. Namely, getting out from under our jobs.
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?
Absolutely! If you weren't around at the time, or just never posted, feel free to chime in! :D
Great, excited to join!
Current investments and cash: slightly over $96k
Student Loans: slightly over $127k
Goals:
100k investments and savings by end of July (I'll need the stock market to cooperate a bit!)
Positive net worth by my 30th birthday next July
200k investments and savings by July 2017
Today I hit 100k in investments and savings!!
Updated goals:
Positive net worth by next March 2015
200k in investment and savings by July 2016
1 mil in investments and savings by the end of 2025
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?
Absolutely! If you weren't around at the time, or just never posted, feel free to chime in! :D
Great, excited to join!
Current investments and cash: slightly over $96k
Student Loans: slightly over $127k
Goals:
100k investments and savings by end of July (I'll need the stock market to cooperate a bit!)
Positive net worth by my 30th birthday next July
200k investments and savings by July 2017
Today I hit 100k in investments and savings!!
Updated goals:
Positive net worth by next March 2015
200k in investment and savings by July 2016
1 mil in investments and savings by the end of 2025
I hit positive net worth today! A month ahead of schedule!
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?
Absolutely! If you weren't around at the time, or just never posted, feel free to chime in! :D
Great, excited to join!
Current investments and cash: slightly over $96k
Student Loans: slightly over $127k
Goals:
100k investments and savings by end of July (I'll need the stock market to cooperate a bit!)
Positive net worth by my 30th birthday next July
200k investments and savings by July 2017
Today I hit 100k in investments and savings!!
Updated goals:
Positive net worth by next March 2015
200k in investment and savings by July 2016
1 mil in investments and savings by the end of 2025
I hit positive net worth today! A month ahead of schedule!
(Current - June 2014) - 429K
1 Year (June 2015) - 600K
2 Years (June 2016) - 800K
3 Years (June 2017) - 1MM
(Current - June 2014) - 429K
1 Year (June 2015) - 600K
2 Years (June 2016) - 800K
3 Years (June 2017) - 1MM
So June 2015 is right around the corner and I just did our finances for the month. Year 1 goal achieved (605K)! Getting to work on next year's goal now...
With all our aggressive spending reduction, it may not be necessary to make it to 1MM. We'll see how it looks next year.
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
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
My #1 long-term net worth goal is > $0 on date of death.
Further broken down goal (all End-of-year):
2013: $78k
2014: $105k
2018: $300k
2021: $550k
2025: $1m
The above goal was conceived early or mid 2012 @ ~$50k. Currently we are at ~$84k. It hinges almost exclusively on if my [amazing] wife can go from $0 income -> $50k/yr working from home in the next few years, so I already feel it's a bit of a stretch, but we are ahead of the curve so far, so that's a good sign.
Since it's coming up on 1yr since I posted this, thought I'd update: We hit $105 in January 2014 instead of Dec., so we are about 1yr ahead. However, I've revised down my investment return estimates, so shooting for $500k by 2021.
With all the recent celebrations of hitting net worth milestones (1 (https://forum.mrmoneymustache.com/share-your-badassity/just-hit-$500k-nw/) 2 (https://forum.mrmoneymustache.com/share-your-badassity/net-worth/) 3 (https://forum.mrmoneymustache.com/share-your-badassity/another-net-worth-milestone/)), I'm fired up!
Rather than just reflecting on milestones as we happen to pass them, though, let's push ourselves to hit those milestones even faster!
Long term goals is the best way to success, so let's hear your net worth goals.
Here's my Net Worth Stretch Goals:
(Current - June 2013) 400k
1 Year (June 2014) - 525k
2 Years (June 2015) - 660k
3 Years (June 2016) - 800k
That's right, my goal is to double my net worth from 400 to 800 in 3 years. That means I'll have to increase our net worth by ~133k/year. Considering the base gross pay for my wife and I is about 44k each (88k combined), we're short 45k a year.
...and that's if we spend $0. Since we spend about 20-25k, we'll be short about 65k/year. I plan to make that gap up with extra side gigs, rents, and other income. It's a stretch, but it wouldn't be a gauntlet otherwise. (A much more realistic 3-year goal would be 650k instead of 800, and we'll absolutely hit 600k for sure. But that gap between 800k and 600k in 3 years is that same 65k/year gap. Why not go for it?)
Post your current NW and goals you're aiming for, realistic or stretch. Set your own timeframes (6 months, 1 year, 5, 10 years, whatever your goals are).
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.
The more of this thread I read, the more I think the long term net worth challenge should be to minimize it. Like any schmuck with a decent job can save 50% and work for 40 years and end up a multimillionaire. That's not even a challenge.
But deliberately limiting your net worth because you know you don't need more money? Pulling the trigger on early retirement at age 30 with only $450,000 in the bank? That's a challenge. It requires a certain intimate familiarity with your real spending patterns, a willingness to make sacrifices or find more income in the event of a downturn, confidence in your asset allocation, and balls of steel.
I give much more respect to the family of six that FIREs on $500k than I do to the unmarried investment banker who punches out with "only" 2 million instead of the 7 he was originally planning on. Seriously, which of those people do you think is more badass?
Otherwise, this gauntlet is just "who has the highest paying job and can endure doing it the longest?" and that doesn't really seem in line with what we're all trying to accomplish here. Namely, getting out from under our jobs.
Lol I guess that's directed at me but I agree with you. Here are my long te net worth goals:
2020 - 1.5 million
2025 - 2.5 million
2030 - 4 million
2035 - 7 million
2040 - 10 million
2045 - retire early at 65 with 15 million. I'm a frugal badass!
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.
Thanks, Bbub. Contributions and mortgage paydown were around $160K in the first year and around $170K in the second year, so around $130K were market gains (most of them last year). The market hasn't been good this year for stocks or bonds and I am feeling it :-)
What goes up, must come down -- we lost nearly $50k this week (on paper)....
The underlying financials of the US market are still pretty strong, so this is probably a good buying opportunity for those who have spare cash lying around. Of course now I am kicking myself a bit that I rushed to buy VTSAX with my Roth 403b rollover money. If I had hung on to the cash for another two weeks I could have bought in on a major sale price on Monday! Not that I'm a dirty market timer or anything :)
Not really net worth goals, but my investment goals are:
Current $45k
Jan 2016 $68k
Jan 2017 $100k
Jan 2018 $142k
Jan 2019 $195k
Hopefully in 2018 I'll sell my rental property (depends on market) and blow my 2019 goals out of the water. :p
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)
I'll play. Right now:
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
If I kept working and kept saving, I'd reach retirement age with about 15M. Far too much. Also, according to my 401k calculator, I should have enough to retire on by 45 according to Monte Carlo, so traditional shit agrees with me. Yay!
These projections are for liquid assets only. This maps out every year between now and FI. A little lumpiness in the return/savings estimates, but it's close enough. Will be interested to come back and check progress over the years!
Current: $155k
Dec 31, 2015: $275k
Dec 31, 2016: $400k
Dec 31, 2017: $500k
Dec 31, 2018: $650k
Dec 31, 2019: $800k
Dec 31, 2020: $1M
Dec 31, 2021: $1.1M
Dec 31, 2022: 1.25M (FI)
The yearly summary: could have done better or worse, didn't.Ha. +1
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
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.
I guess I need to go more long term now.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!
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.
Ok I'll play
Dec'14 $534k
Dec'15 $650k
Dec'16 $775k
Dec'17 $950k
Dec'18 $1100k
Posting for my future self
Current NW is about $32k. This year wont see a huge increase as i liquidate most of my savings to buy a house. I'm hoping the remaining years i am underestimating my contributions and the market performance. I also hope to get into landlording a little in the next few years.
goal/stretch goal
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k
Not really net worth goals, but my investment goals are:
Current $45k
Jan 2016 $68k
Jan 2017 $100k
Jan 2018 $142k
Jan 2019 $195k
Hopefully in 2018 I'll sell my rental property (depends on market) and blow my 2019 goals out of the water. :p
Hit my first goal today!!
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.
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)
These projections are for liquid assets only. This maps out every year between now and FI. A little lumpiness in the return/savings estimates, but it's close enough. Will be interested to come back and check progress over the years!
Current: $155k
Dec 31, 2015: $275k
Dec 31, 2016: $400k
Dec 31, 2017: $500k
Dec 31, 2018: $650k
Dec 31, 2019: $800k
Dec 31, 2020: $1M
Dec 31, 2021: $1.1M
Dec 31, 2022: 1.25M (FI)
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
2015: $140,000 (+70,000)2014: $ 77,439
2016: $190,000 (+50,000)
2017: $250,000 (+60,000)
2018: $315,000 (+65,000) Milestone 1
2019: $385,000 (+70,000)
2020: $465,000 (+80,000)
Had this written out for a little while, but wanted to make it more permanent and have a place to check on my progress.
Recent grad, finishing a lower paying residency half way through 2015 and will be expecting a 6 figure income starting in June/July. 10 year plan, very rough estimate and not assuming pay increases/pay decreases(possibly coming in my field!). Will update as needed.
Today: -17k
End of:
2015: 15k
2016: 70k
2017: 135k
2018: 215k
2019: 295k
2020: 385k
2021: 480k
2022: 585k
2023: 700k
2024: 825k
2025: 960k (FIRE)
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)
Jan 1 2015: $25kDude...our NW outlook is extremely similar...should be fun to watch!
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
goal/stretch goal2015 Actual - 40,500
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k
Jan 1 2015: $25kDude...our NW outlook is extremely similar...should be fun to watch!
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: $1300kgoal/stretch goal2015 Actual - 40,500
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k
$2M by 2015.
any 1% increment gain above that gets stuffed into mortgage (if it still exists).
It's enough for significant hedonic adaptation, - love that phrase.
Currently $1.6M (no home equity ~140K or mortgage debt 77K included).
My current targets are:
Further broken down goal (all End-of-year):
2013: $78k
2014: $105k
2018: $300k
2021: $550k
2025: $1m
2016: $225k
2017: $275k
2018: $340k
2019: $400k
2020: $475k
2021: $550k
2025: $1m
EOY | NW | Retirement |
2016: | $275k | $200k |
2017: | $335k | $240k |
2018: | $400k | $290k |
2019: | $465k | $340k |
2020: | $530k | $390k |
2021: | $600k | $440k |
2025: | $1M | $625k |
These projections are for liquid assets only. This maps out every year between now and FI. A little lumpiness in the return/savings estimates, but it's close enough. Will be interested to come back and check progress over the years!
Current: $155kDec 31, 2015: $275k [Goal achieved in March 2016]
Dec 31, 2016: $400k
Dec 31, 2017: $500k
Dec 31, 2018: $650k
Dec 31, 2019: $800k
Dec 31, 2020: $1M
Dec 31, 2021: $1.1M
Dec 31, 2022: 1.25M (FI)
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
I want to hit $1MM by the time I'm 30. My current trajectory has me falling short by ~$200K or so, but assumes my income doesn't change. So if I can keep my expenses low and secure some raises I think I can get there.
(Current - June 2014) - 429K
1 Year (June 2015) - 600K
2 Years (June 2016) - 800K
3 Years (June 2017) - 1MM
So June 2015 is right around the corner and I just did our finances for the month. Year 1 goal achieved (605K)! Getting to work on next year's goal now...
With all our aggressive spending reduction, it may not be necessary to make it to 1MM. We'll see how it looks next year.
Not really net worth goals, but my investment goals are:
Current $45k
Jan 2016 $68k
Jan 2017 $100k
Jan 2018 $142k
Jan 2019 $195k
Hopefully in 2018 I'll sell my rental property (depends on market) and blow my 2019 goals out of the water. :p
Hit my first goal today!!
Actual Jan 2016 - $80k
My plans have changed a lot since I first made these investment goals. I need to put a little money in to my house this year in order to sell it in the next couple years, and have some other spendy plans that I'll need to do for FIRE plan purposes and so I might stick with my original goal of $100k. Chances are that should be quite easy. We shall see what happens. :)
Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M
End 2014 = 1.15M
End 2015 = 1.32M
End 2016 = 1.49M
end 2017 = 1.66M
However FIRE will be based on liquid portfolio...when it reaches 1 M hopefully at age 45
Currently 430-50k child education = 380k
End 2014 = 500k
End 2015 = 675k
End 2016= 863k
End 2017= 980k
Inspired by StudentStasher's badass progress, checked our progress. Made the 2015 goal. Current NW 560K. Hoping to slightly overshoot 2015 goal...
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.
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.
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 )
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.
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!!!
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
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 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).
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.
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.
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.
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market
Continuing thepedantrysemanticsfun, it's still a mistake... just an unavoidable one. ;)
EDIT: So pumped this turned out to be my 20,000th post. SO worth it.
(https://67.media.tumblr.com/tumblr_m7ha0vnbOa1rwzsbso4_400.gif)
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market
Continuing thepedantrysemanticsfun, it's still a mistake... just an unavoidable one. ;)
EDIT: So pumped this turned out to be my 20,000th post. SO worth it.
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've had a couple discussions on how to value pensions.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.
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.
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. =-))
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. ;)
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
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.
Fact.
Same thing happened to me.
Membership in this forum seems to be detrimental to one's working time. ;)
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?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.
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....
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 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
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
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)
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.
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)
New kid is here ,and real estate taxes are expensive this year, but the market is killing it.
August 2016: $756k
Short term goal August 2017: $900k
New kid on the way so I don't know how this will change things.
I guess I need to go more long term now.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!
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!
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.
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!!!
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.
2017: $1M.
2027: $2.5M.
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
goal/stretch goal
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k
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 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 (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
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! :)
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
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...
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 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.)
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
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.EOY NW plan NW Actual
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
January 2015: $11k
January 2016: $27k
January 2017: $45k
January 2018: $62k
January 2023: $177k
January 2028: $280k
A reminder to try harder...
March 2017: $1MNew kid is here ,and real estate taxes are expensive this year, but the market is killing it.
August 2016: $756k
Short term goal August 2017: $900k
New kid on the way so I don't know how this will change things.
December 2016: $859k
Goals
August 2017: $1M
If I can stay employed
August 2018: $1.25M
Hi there. I'm late to the game here but YNAB helped me pull my old records. Future projections are not based on any math.
All records are from January and includes house value.
2015: $145k
2016: $207k Added: $62k
2017: $291k Added: $84k
2018: $400k
2019: $550k
2020: $700k
2025: $1,200k
NW: $433,000
Goal: $1.1 million by August of 2020.
Stretch is to do it in 6 years, or 5. Mint keeps telling me I'm about a year ahead so we will see!
I have a current plan, lets see how it works. Here's a bit of history and my future projections assuming I keep working. This includes my Property which is ~$450k as estimated by Mint/Zillow, so take with a grain of salt. I know my target numbers are higher than most. Annual Expense target will be 75-80k off a 3% WR, and I want a cushion for a 20% market downturn. $3.3M (80k/.03/.8) or so as my min FIRE number of invested assets, or 3.75 ish total. Our increases look like they will stay around 200k a year assuming 6% returns and college outflows as targeted. If market does better than my conservative returns, I may shove off earlier.
3/2014: $1.3
3/2015: $1.5
3/2016: $1.67
3/2017: $1.95 (Currently 42)
Forecast:
3/2018: $2.0
3/2019: $2.2
3/2020: $2.38
3/2021: $2.58
3/2022: $2.8
3/2023: $3.0
3/2024: $3.2
3/2025: $3.5 (Early FIRE Date @ 50)
3/2026: $3.7
3/2027: $3.9
3/2028: $4.2
3/2029: $4.5
3/2030: $4.7 (Late FIRE Date @55)
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.
At the point I reach 500K I'll decide whether or not to keep going. The plan I came up with two months ago was to leave employment with a 4,000 per month pension plus 750,000 in investments which I would never have to touch. To get the 4,000 per month I have to work to 2024. I can take less per month and retire earlier.
Also planning on relocating to a more tax-friendly state (I'm in CA) so I have to buy/finance a house. Currently renting/sharing.
Thoughts?
Please don't take this the wrong way, but you're 42 with almost $2M and you're choosing to spend the next 13 years of your life working full time? That's 13 years you're not gonna get back!
Current NW 6/14 = $551k
YE 2014 goal = $600k
YE 2015 goal = $700k
YE 2016 goal = $810k
YE 2017 goal = $950k
Have no idea if this is realistic -- currently saving $27k to retirement/yr and paying down the mortgage by about $10-$15k per year, adding $3600 to college accounts per year (about to increase this as we add another child), so the remainder will have to be from market gains.
At the point I reach 500K I'll decide whether or not to keep going. The plan I came up with two months ago was to leave employment with a 4,000 per month pension plus 750,000 in investments which I would never have to touch. To get the 4,000 per month I have to work to 2024. I can take less per month and retire earlier.
Also planning on relocating to a more tax-friendly state (I'm in CA) so I have to buy/finance a house. Currently renting/sharing.
Thoughts?
You've got a good plan. If you take a lower monthly pension amount now and let your $750k grow, it'll quickly reach the point where a 4% (or less) withdrawal will make up the difference to get to $4k/month. However, if you move to a cheaper area you may not need the $4k budget.
Are you guys including your home equity in your net worth figures?
How about pensions?
Had this written out for a little while, but wanted to make it more permanent and have a place to check on my progress.
Recent grad, finishing a lower paying residency half way through 2015 and will be expecting a 6 figure income starting in June/July. 10 year plan, very rough estimate and not assuming pay increases/pay decreases(possibly coming in my field!). Will update as needed.
Today: -17k
End of:
2015: 15k
2016: 70k
2017: 135k
2018: 215k
2019: 295k
2020: 385k
2021: 480k
2022: 585k
2023: 700k
2024: 825k
2025: 960k (FIRE)
Ended 2015 with about 47k, new goal for 2016 is 100k. =)
What kind of NW growth PA do people use on their calculations?I do 5 different projections. The most pessimistic is 0% growth, contributions plus principle only. The one I use as my expected is 5%, then I have a few higher up to 11% for shits and giggles. I think having the 0% growth helps ground my expectations.
My FIRE target is £1MM and currently have this date set as 2025. Current NW c.£415k.
Am I being a bit cautious with that date?
I know what my contributions are as they are pretty much fixed other than house prices but the growth on the actual pot is the bit I think I am not really getting right.
Of course its always good to under estimate things so I don't mind too much but I have a feeling I am a good bit under, what do you guys think?
Date | Goal | Actual |
June 2014 | 394K | |
June 2015 | 550K | 547K |
June 2016 | 750K | 692K |
June 2017 | 842K | 929K |
June 2018 | 1107K | |
Dec 2018 | 1200K | Fire |
That was quick. Another year went by.
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
Well *I'm* certainly not going to try and guess!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.QuoteAnyways 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. :)
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...
Ok I want to get in on this too. ARS I like how you laid out the 'goal/underrun format' I'll call it.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 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.
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.
Goals: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.
Dec-17 300,000
Jun-19 400,000
Dec-21 500,000
There will definitely be acrashbuying opportunity at some point. Who knows when. :)
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.
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...
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...
When are you going to pull the trigger? Come on in, the water's fine!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...
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.
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.)
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.
When are you going to pull the trigger? Come on in, the water's fine!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...
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. :)
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)
$1,507,000 total NWI 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.QuoteI 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...
Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M
End 2014 = 1.15M
End 2015 = 1.32M
End 2016 = 1.49M
end 2017 = 1.66M
However FIRE will be based on liquid portfolio...when it reaches 1 M hopefully at age 45
Currently 430-50k child education = 380k
End 2014 = 500k
End 2015 = 675k
End 2016= 863k
End 2017= 980k
Inspired by StudentStasher's badass progress, checked our progress. Made the 2015 goal. Current NW 560K. Hoping to slightly overshoot 2015 goal...
Check in time. I exclude pension value at this time as it really doesn't have bearing on ER since we don't collect for 16 more years. Value is hard to estimate, but at present time it would generate 40K annually (indexed). So, under the 4% rule it would be worth 1M.
NW - 1.5M
of which Liquid Portfolio is 1M.
Why haven't we FIRE'd, since 1M was the goal? Fear not! Soon...However, since we enjoy our jobs, we will begin a weaning process. Just to see if a life/work balance of about 75% work would be fun. The other goal is to generate cash for some home renos, car replacement etc. No more cash will be stashed at this time.
Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M
End 2014 = 1.15M
End 2015 = 1.32M
End 2016 = 1.49M
end 2017 = 1.66M
However FIRE will be based on liquid portfolio...when it reaches 1 M hopefully at age 45
Currently 430-50k child education = 380k
End 2014 = 500k
End 2015 = 675k
End 2016= 863k
End 2017= 980k
Inspired by StudentStasher's badass progress, checked our progress. Made the 2015 goal. Current NW 560K. Hoping to slightly overshoot 2015 goal...
Check in time. I exclude pension value at this time as it really doesn't have bearing on ER since we don't collect for 16 more years. Value is hard to estimate, but at present time it would generate 40K annually (indexed). So, under the 4% rule it would be worth 1M.
NW - 1.5M
of which Liquid Portfolio is 1M.
Why haven't we FIRE'd, since 1M was the goal? Fear not! Soon...However, since we enjoy our jobs, we will begin a weaning process. Just to see if a life/work balance of about 75% work would be fun. The other goal is to generate cash for some home renos, car replacement etc. No more cash will be stashed at this time.
Around 18 months since the last update:
NW 1.91M
Portfolio 1.542M
Wow! Those are impressive gains!Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M
End 2014 = 1.15M
End 2015 = 1.32M
End 2016 = 1.49M
end 2017 = 1.66M
However FIRE will be based on liquid portfolio...when it reaches 1 M hopefully at age 45
Currently 430-50k child education = 380k
End 2014 = 500k
End 2015 = 675k
End 2016= 863k
End 2017= 980k
Inspired by StudentStasher's badass progress, checked our progress. Made the 2015 goal. Current NW 560K. Hoping to slightly overshoot 2015 goal...
Check in time. I exclude pension value at this time as it really doesn't have bearing on ER since we don't collect for 16 more years. Value is hard to estimate, but at present time it would generate 40K annually (indexed). So, under the 4% rule it would be worth 1M.
NW - 1.5M
of which Liquid Portfolio is 1M.
Why haven't we FIRE'd, since 1M was the goal? Fear not! Soon...However, since we enjoy our jobs, we will begin a weaning process. Just to see if a life/work balance of about 75% work would be fun. The other goal is to generate cash for some home renos, car replacement etc. No more cash will be stashed at this time.
Around 18 months since the last update:
NW 1.91M
Portfolio 1.542M
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
Congratulations! Are y'all any closer to FIRE or are you still weaning?
I love spreadsheets and tracking. Our NW is exclusive of our primary residence value since we aren't planning to sell.2016 -- $518K (actual)
2016 -- $518K (actual)
2017 -- $572K (actual end of April)
2017 -- $650K
2018 -- $730K
2019 -- $810K
2020 -- $900K
2025 -- $1.2 MM
2030 -- $1.5 MM (Full FI, me 52, DH 59, DD #1 graduates HS)
This is all a bit of a WAG, haha. I'm also planning to leave my job this June so we will be a one income household, so projections after June of 2017 include only my husband's 401 (k), + matching, and market gains. This will definitely be impacted if the market doesn't keep up with the super sweet recent returns.
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.
Had to trim down the previous posts as it was going back every year to 2013. Feel free to click on the quote link above to see that. I also finally made up a spreadsheet to see this stuff visually. I'm going to update the goals and actuals based on that from now on, but long story short, I was aiming for 330 this year and hit 388k. Kinda stoked. This coming year, my wife got a job that pays well which should increase our savings rate even more. We're also going to finally sell the house this year as the boom in Denver has subsided and appreciation can't beat the primary residence tax exemption that thankfully didn't get changed in the new tax bill.
...
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
...
Current NW 6/14 = $551k
YE 2014 goal = $600k
YE 2015 goal = $700k
YE 2016 goal = $810k
YE 2017 goal = $950k
Have no idea if this is realistic -- currently saving $27k to retirement/yr and paying down the mortgage by about $10-$15k per year, adding $3600 to college accounts per year (about to increase this as we add another child), so the remainder will have to be from market gains.
We're just a touch behind, probably because I pulled these numbers out of my ass.
Current NW is right around the end of 2016 goal, so maybe 6 months behind. I am guessing that by the end of this year we'll be more like $850k than $950k.
We paid off the mortgage in January and will probably get $33k into retirement & $4500 into college savings this year. We're also going to work hard to max the HSA this year. Right now what we had been paying towards the mortgage will go towards home maintenance/improvements & a vacation. Maybe in a year or two that money can go towards after tax savings.
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...
Not really net worth goals, but my investment goals are:
Current $45k
Jan 2016 $68k
Jan 2017 $100k
Jan 2018 $142k
Jan 2019 $195k
Hopefully in 2018 I'll sell my rental property (depends on market) and blow my 2019 goals out of the water. :p
Yay! I finally hit my goal, and then some!!! Yay!!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
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.
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 - Dec 2017: $307,562 / $143,612
2018:$355,000/$195,000$360,000/$200,000
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.
EOY NW plan NW Actual
2015 $100K 110K
2016 $175K 188K
2017 $300K 278K
2018 $450K
2019 $625K
2020 $825K
2021 $1.025M
2022 $1.225M (FI)
I'll play
Current NW $1.4
2008 $50,000
2013 $632,000
2014 $859,000
2015 $924,000
2016 $1,229,000
Goals Actual
2017 $1,500,000 $1,617,661
2018 $1,750,000 FI
2019 $2,000,000
2020 $2,300,000 FIRE?
2021 $2,600,000
2022 $2,900,000
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
I want to join but I will just be doing investments, true NW is too much guessing and calculations! I am going to do year end goals starting from Jan 2017.
Our 2nd (last) baby is due in March 18, so she should finish high school in 2035 or 2036. I would like to retire when she graduates (@52/53) or a couple years after (@55). I know it is not really RE but I think it will be early enough for me and with DH's medical concerns it might still be too early, depending on what happens to health insurance.
Dec-17: $90K
Dec-18: $110K
Dec-19: $140K
Dec-20: $200K
Dec-25: $400K
Who freaking knows what will happen in 10+ years but why not give it is shot.
Dec-30: $900K
Dec-35: $1.5M
Dec-38: $2M
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!
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.
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.
It's enough. Will deploy some capital to get a 2 to 4 rental properties over the next 3 to 5 years. That's so we don't have to sell stock at all when the market is down.
sQuote from: SwordGuy link=topic=7063.msg2020337#msg2020337
It's enough. Will deploy some capital to get a 2 to 4 rental properties over the next 3 to 5 years. That's so we don't have to sell stock at all when the market is down.
During the recession some of our friends that own rentals got hit pretty hard with renters not paying rent, staying in the house until evicted, destroying the house on the way out, etc. The stress of the recession had people doing crazy things to their rentals. We had great luck with our rentals, but I don't count on it to cash flow well during another serious recession.
One off stories are not great to base your plans. Is there better data out there on how rentals fare during recessions? How did others with rentals do during the last recession?
My Long-Term Goal: Hit the $1M NW mark by Age 30
Just recently graduated undergrad and will be starting my full-time position in a couple months. I also turn 22 soon.
I was lucky enough to graduate without any student loan debt, so I will be starting on Day 1 with a NW of 0.
This is a pretty aggressive goal, but with some solid future bonuses/promotions/raises, nice market returns, and keeping my spending as low/optimized as possible, I'm excited to see how close to my goal I can get!
My Long-Term Goal: Hit the $1M NW mark by Age 30
Just recently graduated undergrad and will be starting my full-time position in a couple months. I also turn 22 soon.
I was lucky enough to graduate without any student loan debt, so I will be starting on Day 1 with a NW of 0.
This is a pretty aggressive goal, but with some solid future bonuses/promotions/raises, nice market returns, and keeping my spending as low/optimized as possible, I'm excited to see how close to my goal I can get!
This is also my goal! I am at 27 with 200k and my salary is not nearly enough to reach it. I am hoping the stars align and somehow present me with 800k in the next 3 years (LOL). In reality I will probably have to go until I am 35. Darn! Shoot for the stars and end up in space I guess..
My Long-Term Goal: Hit the $1M NW mark by Age 30
Just recently graduated undergrad and will be starting my full-time position in a couple months. I also turn 22 soon.
I was lucky enough to graduate without any student loan debt, so I will be starting on Day 1 with a NW of 0.
This is a pretty aggressive goal, but with some solid future bonuses/promotions/raises, nice market returns, and keeping my spending as low/optimized as possible, I'm excited to see how close to my goal I can get!
I want to join but I will just be doing investments, true NW is too much guessing and calculations! I am going to do year end goals starting from Jan 2017.
Our 2nd (last) baby is due in March 18, so she should finish high school in 2035 or 2036. I would like to retire when she graduates (@52/53) or a couple years after (@55). I know it is not really RE but I think it will be early enough for me and with DH's medical concerns it might still be too early, depending on what happens to health insurance.
Dec-17: $90K
Dec-18: $110K
Dec-19: $140K
Dec-20: $200K
Dec-25: $400K
Who freaking knows what will happen in 10+ years but why not give it is shot.
Dec-30: $900K
Dec-35: $1.5M
Dec-38: $2M
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...
Ending 2017 at $828,383. Really hoping to join the double comma club next year, but trying not to get my hopes up.
I have smashed every previous goal I set up there ^^^, so maybe there's a chance. Or, maybe I'm just kind of bad at predictions. ;-)
Date | Goal | Actual |
June 2014 | 394K | |
June 2015 | 550K | 547K |
June 2016 | 750K | 692K |
June 2017 | 842K | 929K |
June 2018 | 1107K | 1182K |
Dec 2018 | 1300K | Part-time / fire? |
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.
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...
Ending 2017 at $828,383. Really hoping to join the double comma club next year, but trying not to get my hopes up.
I have smashed every previous goal I set up there ^^^, so maybe there's a chance. Or, maybe I'm just kind of bad at predictions. ;-)
Now, with just about one more month of income left before the firehose of cash is turned off, I have $545K free and clear, and my NW is $918K. Part of the NW growth is due to an adjustment to the value of my house (increased $14K).
Shooting for $600K free and clear and a NW figure with two commas in it. :)
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.
It's the end of 2017! (Well, close enough). My NW just today crept up to $401k, meaning I hit my "stretch" goal. My husband did get a job, but not until October. I will hit $450k by the end of January, because I have an already-determined bonus for my work in 2017 coming then (kind of unhappy it will be taxed in 2018, but whatever).
Onward!
Easily-obtainable goal for the end of 2018: $600,000
Stretch goal for the end of 2018: $650,000
The difference between the easy and the stretch this year is if my husband stays in his job. He hates it (the politics, not the actual work), and it pays so little compared to mine that it's very tempting for him to just quit on any given day, which I've given my full support to do whenever he feels like it. I estimate he'll make it to February, but only just.
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
Another 6 months in the book! It's fun looking back and seeing progress as I don't really track these milestones anywhere else. Just paid 4th quarter estimated taxes and prepaid 2018 state and property taxes so my current NW took a hit last week but I have some updated goals..
Current NW: $1.85M
Jan 1 2019: $2.35M
Jan 1 2020: $2.8M
My new long term net worth goal is $0.....that's right $0
I'll playOk update
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.
I am new to MMM and have not been tracking my spending or net worth, but for the sake of getting things moving, this is what mint.com tells me:Looking back at this now, I blew through both of these goals.
December 2012: $76,330 (includes student loan debt)
December 2013: $139,757 (includes student loan debt but shows my first house purchase) +83%, +$63,427
December 2014: $201,385 (killed the student loan debt, wasted a bunch of money somehow) +44%, +$61,628
December 2015: $320,899 (got married for ~18K, and paid for a ~64K roof job) +59%, +$119,514. This would have been a killer year without the marriage and roof, would have doubled my portfolio and been up $201,514
Looking forward, my goals will depend on kids (which we plan on trying for this year). Assuming we had a kid this year and I was at my job for another 18 mos before doing something part-time, I think my near-term goals would be:
December 2016: $470,000, +46%
June 2017: $550,000, ~+40% annually
I want to join but I will just be doing investments, true NW is too much guessing and calculations! I am going to do year end goals starting from Jan 2017.
Our 2nd (last) baby is due in March 18, so she should finish high school in 2035 or 2036. I would like to retire when she graduates (@52/53) or a couple years after (@55). I know it is not really RE but I think it will be early enough for me and with DH's medical concerns it might still be too early, depending on what happens to health insurance.
Dec-17: $90K
Dec-18: $110K
Dec-19: $140K
Dec-20: $200K
Dec-25: $400K
Who freaking knows what will happen in 10+ years but why not give it is shot.
Dec-30: $900K
Dec-35: $1.5M
Dec-38: $2M
Revised 2018 and beyond goals and used ranges, lower end seems pretty likely with the upper end being a stretch.
End of Year: Goal / Actual
Dec-17: $90K / $97,451
Dec-18: $115K-$120K
Dec-19: $140K-$175K
Dec-20: $200K-$250K
Dec-25: $400K-$500K
Mid 2018 update: Calculations show that if we have a flat rest of the year I should be right around $118k. I will admit that I made these guesses before I got a new job with a 30(ish)% raise and assuming DH's business would be about equal to 2017. In the 1st 5 months of 2018 he has made almost 80% of what he made in all 12 months of 2017, hopefully he will be able to keep up that pace the rest of the year!
I love this thread!
We are still catching up after having 2 kids, but we are on track and destined for great financial success!
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)
We need to change our IRAs to lower cost mutual funds (I think currently they are in "actively managed" funds - oops! Pre-MMM mistake) This is pretty conservative and will be much higher if the markets actually go up in the next 6 years. ULTIMATE goal would be $2M by FIRE, but I'm not sure if we will be able to make it that high. Depends on many things (if we start investing in real estate/landlording, etc. not expecting any inheritances)
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.
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 2018:25k29k
Nov 2019: 38k
Nov 2020: 52k
Nov 2021 (end of contract): 66k
Realistic targets for me:
2020-500k
2025-750k
2030-1m FIRE!
Had to trim down the previous posts as it was going back every year to 2013. Feel free to click on the quote link above to see that. I also finally made up a spreadsheet to see this stuff visually. I'm going to update the goals and actuals based on that from now on, but long story short, I was aiming for 330 this year and hit 388k. Kinda stoked. This coming year, my wife got a job that pays well which should increase our savings rate even more. We're also going to finally sell the house this year as the boom in Denver has subsided and appreciation can't beat the primary residence tax exemption that thankfully didn't get changed in the new tax bill.
...
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
...
Jan 2014 Actual: ~$0k NW
Jan 2015 Actual: $90k NW, $69k non-mortgage debt
Jan 2016 Actual: $208k NW, $58k debt
Jan 2017 Actual: $292k NW, $47k debt
Jan 2018: Actual: $388k NW, $40k debt
Jan 2019: Goal: $500k NW, $30k debt
Jan 2020: Goal: $625k NW, $20k debt
Jan 2021: Goal: $750k NW, $10k debt
Jan 2022: Goal: $900k NW, $0k debt
Jan 2023: Goal: $1.1M NW, FIRE
I want to join but I will just be doing investments, true NW is too much guessing and calculations! I am going to do year end goals starting from Jan 2017.
Our 2nd (last) baby is due in March 18, so she should finish high school in 2035 or 2036. I would like to retire when she graduates (@52/53) or a couple years after (@55). I know it is not really RE but I think it will be early enough for me and with DH's medical concerns it might still be too early, depending on what happens to health insurance.
Dec-17: $90K
Dec-18: $110K
Dec-19: $140K
Dec-20: $200K
Dec-25: $400K
Who freaking knows what will happen in 10+ years but why not give it is shot.
Dec-30: $900K
Dec-35: $1.5M
Dec-38: $2M
Revised 2018 and beyond goals and used ranges, lower end seems pretty likely with the upper end being a stretch.
End of Year: Goal / Actual
Dec-17: $90K / $97,451
Dec-18: $115K-$120K
Dec-19: $140K-$175K
Dec-20: $200K-$250K
Dec-25: $400K-$500K
Mid 2018 update: Calculations show that if we have a flat rest of the year I should be right around $118k. I will admit that I made these guesses before I got a new job with a 30(ish)% raise and assuming DH's business would be about equal to 2017. In the 1st 5 months of 2018 he has made almost 80% of what he made in all 12 months of 2017, hopefully he will be able to keep up that pace the rest of the year!
We are at 118k right now, looks like that stretch shouldn't be to much of a stretch (assuming the market doesn't tank).
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!).
This seems challenging, so I’ll happily contribute my goals. A note to my future self: I looked at my calculations and then others here, and I think I’m being very conservative. The way I figure it, you can’t time the market and I see/hear predictions for a flat next 5-10 years, and since I’m only 31, I haven’t really lived while heavily investing during a flat market as I only got serious about this in 2014 (and I paid off debts during that time). So I chose a 5% return/year in my non-expert guess. I’m not including the house or the car. I have my 401k (contributions are set to 7.5 times what the company matches), my HSA (maxed 2 years in a row now, good for you!), my Roth IRA, my brokerage account, and a teeny pension that my job provides when I’m 67 (or older if they move the date back). Of course everything is maxed for calculation purposes, but that may not be reality for the next few years, but these are stretch goals and not entirely based upon reality. I know you’ll understand the thought process, and I’m very curious to see what you think in 5 or 10 years or more time. I hope you've found prosperity and joy in your ventures. :)
End 2019 - $100,000
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)
I'll play
Current NW $1.4
2008 $50,000
2013 $632,000
2014 $859,000
2015 $924,000
2016 $1,229,000
Goals Actual
2017 $1,500,000 $1,617,661
2018 $1,750,000 FI $1,642,652
2019 $2,000,000
2020 $2,300,000 FIRE?
2021 $2,600,000
2022 $2,900,000
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 - Dec 2017: $307,562 / $143,612
2018:$355,000/$195,000projected BOY 2018 - $360,000/$200,000 Dec 2018: $400,497/$174,888
2019:$420,000/$250,000projected BOY 2019 - $475,000/$225,000
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.
First year done! Overall NW is over my projections by $7500, retirement account balances are under by $1500, which I'm happy with, for sure.
EOY NW plan NW ActualRunning about 100K behind currently due to high spend year and the market drop. All of the abnormal high expenses should be behind us now so looking forward to picking up the pace in 2019.
2015 $100K $110K
2016 $175K $188K
2017 $300K $278K
2018 $450K $358K
2019 $625K
2020 $825K
2021 $1.025M
2022 $1.225M (FI)
Didn't really start tracking until 2017.Jeez! Is that USD?
maybe writing it down and publicizing it will help reinforce good behavior.
this excludes our home which we owe free and clear. 2018's redeeming note is that we paid off the rest of our mortgage with a rather large payment.
this assumes 3% returns and a stable and pretty high income that allows us to save a lot of $. both of those could be wrong.
Net worth Ex-Housing
Jan-17 $1,370,994
Dec-17 $2,171,412
Dec-18 $2,409,607
Dec-20 $3,260,591
Dec-23 $4,886,560
Didn't really start tracking until 2017.Jeez! Is that USD?
maybe writing it down and publicizing it will help reinforce good behavior.
this excludes our home which we owe free and clear. 2018's redeeming note is that we paid off the rest of our mortgage with a rather large payment.
this assumes 3% returns and a stable and pretty high income that allows us to save a lot of $. both of those could be wrong.
Net worth Ex-Housing
Jan-17 $1,370,994
Dec-17 $2,171,412
Dec-18 $2,409,607
Dec-20 $3,260,591
Dec-23 $4,886,560
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
Another 6 months in the book! It's fun looking back and seeing progress as I don't really track these milestones anywhere else. Just paid 4th quarter estimated taxes and prepaid 2018 state and property taxes so my current NW took a hit last week but I have some updated goals..
Current NW: $1.85M
Jan 1 2019: $2.35M
Jan 1 2020: $2.8M
Time for another update! It's been a good year income-wise so far and it looks like that should continue for at least another year hopefully, so I'm updating my goals a bit...
Current NW: $2.28M
Jan 1 2019: $2.45M
Jan 1 2020: $3M
I'm approaching a point where I don't need to work any longer, however I'm in a situation where I own my own business but it feels like it owns me. I'm not sure what to do once I hit my FIRE number as I can't really sell the business due to it being very dependent on me, but it's a cash-generating machine so it seems silly to just dissolve it. I guess I'll just keep at it for now.
All these quotes makes it a little tricky to see past progress so I'm gonna list it so I can see it more easily. It's crazy how fast your net worth can snowball once you get going:
Jan 2015 - $420k
April 2015 - $540k
Nov 2015 - $748k
Aug 2016 - $1.1M
Jan 2017 - $1.26M
July 2017 - $1.535M
Jan 2018 - $1.85M
Aug 2018 - $2.28M
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
Jan 1 2014: $19k
Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $70k
Jan 1 2018: $132k
Jan 1 2019: $170k
Jan 1 2020: $225k
Jan 1 2025: $610k
Jan 1 2030: $1.15M
Jan 1 2035: $1.85M
1/16/19 NW = $263kYay! I finally hit my goal, and then some!!! Yay!!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
1/1/18 NW = $237k
Wow another year again. Feel like I'll be getting old soon at this rate. Hope not! Have been enjoying life. Inflated stock market and some lifestyle inflation may keep me working a bit longer but at the very least I will go half-time next year. My wife already went half-time this year. We are on the cusp of FIRE. Targeting 3.5x withdraw rate now based on most of my research over the past year.
I am sorry to say crossing the million $ mark was predictably disappointing /shrug
Date | Goal | Actual |
June 2014 | 394K | |
June 2015 | 550K | 547K |
June 2016 | 750K | 692K |
June 2017 | 842K | 929K |
June 2018 | 1107K | 1182K |
Dec 2018 | 1300K | 1179K |
June 2019 | current | 1305K |
2020? | FIRE | 1500K |
Considering a 5% overall return, paper investments are projected as follows for FIRE. Assuming $6,000 per month additional investment. Also have 300k to 400k fully owned real estate not included in calculations.
FIRE 2018
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
*****Fire*********age 50
FIRE 2020
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
*****FIRE*********age 52
FIRE 2023
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
2021 $2,077,000
2022 $ 2,256,000
2023 $2,445,000
*****FIRE*********age 55 (minimum retirement age from employer)
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.
We're at about $2,550,000 now. Most of the difference is a spreadsheet mistake on my part, where I left off the value of our primary home in the total field. The rest is 401K contributions, market growth, and the normal mortgage paydown.
It's enough. Will deploy some capital to get a 2 to 4 rental properties over the next 3 to 5 years. That's so we don't have to sell stock at all when the market is down.
Definitely switching from acquisition mode to preservation mode now that we've retired.
I want to join but I will just be doing investments, true NW is too much guessing and calculations! I am going to do year end goals starting from Jan 2017.
Our 2nd (last) baby is due in March 18, so she should finish high school in 2035 or 2036. I would like to retire when she graduates (@52/53) or a couple years after (@55). I know it is not really RE but I think it will be early enough for me and with DH's medical concerns it might still be too early, depending on what happens to health insurance.
Dec-17: $90K
Dec-18: $110K
Dec-19: $140K
Dec-20: $200K
Dec-25: $400K
Who freaking knows what will happen in 10+ years but why not give it is shot.
Dec-30: $900K
Dec-35: $1.5M
Dec-38: $2M
Revised 2018 and beyond goals and used ranges, lower end seems pretty likely with the upper end being a stretch.
End of Year: Goal / Actual
Dec-17: $90K / $97,451
Dec-18: $115K-$120K
Dec-19: $140K-$175K
Dec-20: $200K-$250K
Dec-25: $400K-$500K
Mid 2018 update: Calculations show that if we have a flat rest of the year I should be right around $118k. I will admit that I made these guesses before I got a new job with a 30(ish)% raise and assuming DH's business would be about equal to 2017. In the 1st 5 months of 2018 he has made almost 80% of what he made in all 12 months of 2017, hopefully he will be able to keep up that pace the rest of the year!
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.
A more immediate update - Net worth without the primary residence = $365k. Net worth with primary residence (equity) = $465k.
Should be FIRE early 2022 @ a goal of 600k without primary residence. Will probably beat that given my deliberate conservative planning combined with the whole saving oodles thing.
Fun thread. Especially the old posts from some of our more colorful posters to see how things have changed.
My strettttch goal has more to do with generational wealth. So in that sense our goals are extremely long term, by the time DW and I have keeled over timeframe. So 2070 stretch goal would be say $10,000,000 net worth or equivalent in whatever currency we’re using in 2070. That’d be cool.
Fun thread. Especially the old posts from some of our more colorful posters to see how things have changed.
My strettttch goal has more to do with generational wealth. So in that sense our goals are extremely long term, by the time DW and I have keeled over timeframe. So 2070 stretch goal would be say $10,000,000 net worth or equivalent in whatever currency we’re using in 2070. That’d be cool.
Agreed, i love the 4 and 5 year updates in here. Crazy how people can remember to come back and post, not sure I will have that same dedication with all of our savings on autopilot.
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
Another 6 months in the book! It's fun looking back and seeing progress as I don't really track these milestones anywhere else. Just paid 4th quarter estimated taxes and prepaid 2018 state and property taxes so my current NW took a hit last week but I have some updated goals..
Current NW: $1.85M
Jan 1 2019: $2.35M
Jan 1 2020: $2.8M
Time for another update! It's been a good year income-wise so far and it looks like that should continue for at least another year hopefully, so I'm updating my goals a bit...
Current NW: $2.28M
Jan 1 2019: $2.45M
Jan 1 2020: $3M
I'm approaching a point where I don't need to work any longer, however I'm in a situation where I own my own business but it feels like it owns me. I'm not sure what to do once I hit my FIRE number as I can't really sell the business due to it being very dependent on me, but it's a cash-generating machine so it seems silly to just dissolve it. I guess I'll just keep at it for now.
All these quotes makes it a little tricky to see past progress so I'm gonna list it so I can see it more easily. It's crazy how fast your net worth can snowball once you get going:
Jan 2015 - $420k
April 2015 - $540k
Nov 2015 - $748k
Aug 2016 - $1.1M
Jan 2017 - $1.26M
July 2017 - $1.535M
Jan 2018 - $1.85M
Aug 2018 - $2.28M
Happy new year everyone! Almost made my goal but the markets had other ideas..
Jan 2019 Actual: $2.4M
I guess considering my original 2019 goal was $2M I can't be too disappointed. I guess I better make some new goals:
Current NW: $2.4M
Jan 1 2020: $2.9M
Jan 1 2021: $3.5M (FAT FIRE NUMBER!!!)
Jan 1 2022: $4.1M
Let's do this!
My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.Well that plan is out the window.
Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M
My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.Well that plan is out the window.
Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M
New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.
1098 more days :-)
Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.
My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.Well that plan is out the window.
Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M
New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.
1098 more days :-)
Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.
Interesting, so your wife is already retired while you’re still working? How has that been working out so far?
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
Year | Goal |
2019 | $120k |
2020 | $200k |
2025 | $680k |
2030 | $1.5m |
2035 | $2.6m |
1/16/19 NW = $263kYay! I finally hit my goal, and then some!!! Yay!!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
1/1/18 NW = $237k
NW: $433,000
Goal: $1.1 million by August of 2020.
Stretch is to do it in 6 years, or 5. Mint keeps telling me I'm about a year ahead so we will see!
Looking back on this post from 3.5 years ago is crazy. I am way ahead, almost at the net worth goal now, and will hit that number liquid more than a year before my old net worth goal. I don't even understand the math, but I'll take it! Once you get on the right track, it really does snowball :)
NW: $433,000
Goal: $1.1 million by August of 2020.
Stretch is to do it in 6 years, or 5. Mint keeps telling me I'm about a year ahead so we will see!
Looking back on this post from 3.5 years ago is crazy. I am way ahead, almost at the net worth goal now, and will hit that number liquid more than a year before my old net worth goal. I don't even understand the math, but I'll take it! Once you get on the right track, it really does snowball :)
Update after another 2.5 years: I hit my NW goal super early, somehow, even though I took a year+ off work. (Being off also made me realize I REALLY don't like having to think about/follow a budget. That part felt very limiting instead of freeing. So we increased our number. I also realized I have to put more thought into what I am early retiring to as I get a lot out of work and work relationships that was hard to replicate elsewhere. But that is for another thread.)
Current: $1.45M
New goal: ~$2M (Aug 2021)
Considering a 5% overall return, paper investments are projected as follows for FIRE. Assuming $6,000 per month additional investment. Also have 300k to 400k fully owned real estate not included in calculations.
FIRE 2018
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
*****Fire*********age 50
FIRE 2020
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
*****FIRE*********age 52
FIRE 2023
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
2021 $2,077,000
2022 $ 2,256,000
2023 $2,445,000
*****FIRE*********age 55 (minimum retirement age from employer)
I used a very conservative rate of return in my projected growth. Obviously we did better than 5%.
That being said, we've passed in 2019 my expected 2021 value. This is the last month that I can retire at 50. The temptation is great. I'm thinking 52 isn't a failure. With over 2.1M now, unless a recession hits we'll hopefully see another 250K by then.
I'm confused, bateaux. You are certainly pulling the plug at $2.5m and will stick with it even if during a recession your assets drop or will you go back to work and re-hit $2.5m in order to pull the plug again
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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.
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.
Considering a 5% overall return, paper investments are projected as follows for FIRE. Assuming $6,000 per month additional investment. Also have 300k to 400k fully owned real estate not included in calculations.
FIRE 2018
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
*****Fire*********age 50
FIRE 2020
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
*****FIRE*********age 52
FIRE 2023
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
2021 $2,077,000
2022 $ 2,256,000
2023 $2,445,000
*****FIRE*********age 55 (minimum retirement age from employer)
I used a very conservative rate of return in my projected growth. Obviously we did better than 5%.
That being said, we've passed in 2019 my expected 2021 value. This is the last month that I can retire at 50. The temptation is great. I'm thinking 52 isn't a failure. With over 2.1M now, unless a recession hits we'll hopefully see another 250K by then.
Beware the power of OMY syndrome. Currently at 2,150,000 investment assets. Another 400k or so in real estate. The current and final goal is 2.5M in investment assets. So far this year we've come close to but never crossed 2.2M. I think we will cross 2.2M in coming months, however I expect to dip below 2.0M in the coming recession. So I'm stuck in OMY for a while.
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 2018:25k29k
Nov 2019: 38k
Nov 2020: 52k
Nov 2021 (end of contract): 66k
Fun to do an update on this one! When I checked end of last month I was at 29k, so a good 4k over the initial goal and on track to reach my initial 'stretch goal' of 30k by the end of the year. Also expecting a small windfall in the next month. Projection using my current savings rate/pay raise scheme:
Nov 2018: 29k
Nov 2019: 55k
Nov 2020: 75k
Nov 2021 (end of contract): 98k
This shows how saving only €200/month more really does make a huge difference. Ultimate goal would be to reach that 100k :)
Passed my Nov 2019 goal by almost 4k!
New projections:
Nov 2018: 29k
Nov 2019:55k59k
Nov 2020: 85k
Nov 2021 (end of contract): 112k
Passed my Nov 2019 goal by almost 4k!
New projections:
Nov 2018: 29k
Nov 2019:55k59k
Nov 2020: 85k
Nov 2021 (end of contract): 112k
Congrats, nice to see the compounding effect on your multi-year goals. Bumped the 2021 target up quite a bit from the original plans!
Original goal for the end of 2019: $88k
Current NW: $92k
So I guess it's time for changes...and some lofty long-term goals
Year Goal 2019 $120k 2020 $200k 2025 $680k 2030 $1.5m 2035 $2.6m
Year | Goal | Actual |
2019 | $120k | $137,265 |
2020 | $210k | |
2025 | $720k | |
2030 | $1.6m |
Had to trim down the previous posts as it was going back every year to 2013. Feel free to click on the quote link above to see that. I also finally made up a spreadsheet to see this stuff visually. I'm going to update the goals and actuals based on that from now on, but long story short, I was aiming for 330 this year and hit 388k. Kinda stoked. This coming year, my wife got a job that pays well which should increase our savings rate even more. We're also going to finally sell the house this year as the boom in Denver has subsided and appreciation can't beat the primary residence tax exemption that thankfully didn't get changed in the new tax bill.
...
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
...
Jan 2014 Actual: ~$0k NW
Jan 2015 Actual: $90k NW, $69k non-mortgage debt
Jan 2016 Actual: $208k NW, $58k debt
Jan 2017 Actual: $292k NW, $47k debt
Jan 2018: Actual: $388k NW, $40k debt
Jan 2019: Goal: $500k NW, $30k debt
Jan 2020: Goal: $625k NW, $20k debt
Jan 2021: Goal: $750k NW, $10k debt
Jan 2022: Goal: $900k NW, $0k debt
Jan 2023: Goal: $1.1M NW, FIRE
We got the house sold but it cost more than expected to do that ($20k in asbestos mitigation) combined with this terrible December means I'm nowhere close this year but still above the goals I set in 2016. I knew this big run of every year doing way better than the goal was going to end eventually but progress is still definitely being made. Fortunately we were able to take the house money and just finish paying off all of the student loans way ahead of schedule. I usually am in the "keep investing over paying down low interest debt" camp, but it was variable interest rate debt and interest rates were going up and it was just a lot of mental energy to deal with every month so I just made it go away and feel better for it.
Re-edited the actuals to match the spreadsheet I have that adds in "Savings and Checking" now that that emergency fund is not inconsequential and I think I'll be setting my goals back to the 2016 goals.
Jan 2014 Actual: $13k NW, $99k non-mortgage debt
Jan 2015 Actual: $101k NW, $69k debt
Jan 2016 Actual: $218k NW, $58k debt
Jan 2017 Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Goal: $500k NW
Jan 2021: Goal: $600k NW
Jan 2022: Goal: $725k NW
Jan 2023: Goal: $850k NW
Jan 2024: Goal: $1M NW
I'll play
Current NW $1.4
2008 $50,000
2013 $632,000
2014 $859,000
2015 $924,000
2016 $1,229,000
Goals Actual
2017 $1,500,000 $1,617,661
2018 $1,750,000 FI $1,642,652
2019 $2,000,000 $2,302,398
2020 $2,300,000 FIRE?
2021 $2,600,000
2022 $2,900,000
Considering a 5% overall return, paper investments are projected as follows for FIRE. Assuming $6,000 per month additional investment. Also have 300k to 400k fully owned real estate not included in calculations.
FIRE 2018
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
*****Fire*********age 50
FIRE 2020
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
*****FIRE*********age 52
FIRE 2023
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
2021 $2,077,000
2022 $ 2,256,000
2023 $2,445,000
*****FIRE*********age 55 (minimum retirement age from employer)
I used a very conservative rate of return in my projected growth. Obviously we did better than 5%.
That being said, we've passed in 2019 my expected 2021 value. This is the last month that I can retire at 50. The temptation is great. I'm thinking 52 isn't a failure. With over 2.1M now, unless a recession hits we'll hopefully see another 250K by then.
Beware the power of OMY syndrome. Currently at 2,150,000 investment assets. Another 400k or so in real estate. The current and final goal is 2.5M in investment assets. So far this year we've come close to but never crossed 2.2M. I think we will cross 2.2M in coming months, however I expect to dip below 2.0M in the coming recession. So I'm stuck in OMY for a while.
Took less than a month with new highs, to cross the 2.2 Million investment mark. Mature portfolio growth is incredible.
EOY NW plan NW Actual
2015 $100K $110K
2016 $175K $188K
2017 $300K $278K
2018 $450K $358K
2019 $625K $587K
2020 $825K
2021 $1.025M
2022 $1.225M (FI)
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 - Dec 2017: $307,562 / $143,612
2018:$355,000/$195,000projected BOY 2018 - $360,000/$200,000 Dec 2018: $400,497/$174,888
2019:$420,000/$250,000projected BOY 2019 - $475,000/$225,000 Dec 2019: $540,560/$276,161
2020:$500,000/$325,000Projected BOY 2020: $625,000/$347,309.67
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.
First year done! Overall NW is over my projections by $7500, retirement account balances are under by $1500, which I'm happy with, for sure.
Well, my 6% market increase estimate worked out well. Ha. Our overall net worth is up because we've had about $18,000 in extra income this year that I didn't account for in January. DH is doing a side-job thing with an old coworker for a nice hourly contractor fee. It's not reflected in our retirement balances because 25% is going straight to Ally for tax savings, and most of the rest of it has gone toward savings toward that new house down payment. We won't be moving for a few years, because a 20% down payment on a house with land is ... a lot... so this will probably continue in 2019/2020. We're also have another kid in March, so we're adding a $1300/mo daycare fee starting in June :(
Didn't really start tracking until 2017.
maybe writing it down and publicizing it will help reinforce good behavior.
this excludes our home which we owe free and clear. 2018's redeeming note is that we paid off the rest of our mortgage with a rather large payment.
this assumes 3% returns and a stable and pretty high income that allows us to save a lot of $. both of those could be wrong.
Net worth Ex-Housing
Jan-17 $1,370,994
Dec-17 $2,171,412
Dec-18 $2,409,607
Dec-20 $3,260,591
Dec-23 $4,886,560
7/15/19
New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.
1098 more days :-)
Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.
1/1/20 $389 yippee1/16/19 NW = $263kYay! I finally hit my goal, and then some!!! Yay!!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
1/1/18 NW = $237k
Posting for my 6 year update!!! I can’t believe it!!!
7/29/13 NW = -$60k (yes, that was NEGATIVE 60k)
7/31/19 NW = $340k
I almost made my very end goal of $350k ahead of schedule!!! I guess i need to update those goals and make some new ones seeing how i never made goals past 1/1/2020.
New goals!! (These may be stretch goals after summer 2021)
1/1/20 $375
1/1/21 $455 (husband will retire from active duty in the summer of ‘21, future salary unknown)
1/1/22 $545
1/1/23 $635
1/1/24 $730
1/1/25 $840
1/1/26 $1 mil
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
Another 6 months in the book! It's fun looking back and seeing progress as I don't really track these milestones anywhere else. Just paid 4th quarter estimated taxes and prepaid 2018 state and property taxes so my current NW took a hit last week but I have some updated goals..
Current NW: $1.85M
Jan 1 2019: $2.35M
Jan 1 2020: $2.8M
Time for another update! It's been a good year income-wise so far and it looks like that should continue for at least another year hopefully, so I'm updating my goals a bit...
Current NW: $2.28M
Jan 1 2019: $2.45M
Jan 1 2020: $3M
I'm approaching a point where I don't need to work any longer, however I'm in a situation where I own my own business but it feels like it owns me. I'm not sure what to do once I hit my FIRE number as I can't really sell the business due to it being very dependent on me, but it's a cash-generating machine so it seems silly to just dissolve it. I guess I'll just keep at it for now.
All these quotes makes it a little tricky to see past progress so I'm gonna list it so I can see it more easily. It's crazy how fast your net worth can snowball once you get going:
Jan 2015 - $420k
April 2015 - $540k
Nov 2015 - $748k
Aug 2016 - $1.1M
Jan 2017 - $1.26M
July 2017 - $1.535M
Jan 2018 - $1.85M
Aug 2018 - $2.28M
Happy new year everyone! Almost made my goal but the markets had other ideas..
Jan 2019 Actual: $2.4M
I guess considering my original 2019 goal was $2M I can't be too disappointed. I guess I better make some new goals:
Current NW: $2.4M
Jan 1 2020: $2.9M
Jan 1 2021: $3.5M (FAT FIRE NUMBER!!!)
Jan 1 2022: $4.1M
Let's do this!
Man this last 6 months has flown by! Finding myself ahead of the curve so time to update the goals a bit:
Current NW: $2.88M
Jan 1 2020: $3.1M
Jan 1 2021: $3.75M
Jan 1 2022: $4.4M
End 2019 - $100,000 (Goal met with $111,642.78)
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)
QuoteEnd 2019 - $100,000 (Goal met with $111,642.78)
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)
I met my end-2019 goal and am apparently already 20% of the way to my end-2020 goal so I think I was too conservative when calculating this all out in 2018. I'm super happy for the progress.
QuoteEnd 2019 - $100,000 (Goal met with $111,642.78)
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)
I met my end-2019 goal and am apparently already 20% of the way to my end-2020 goal so I think I was too conservative when calculating this all out in 2018. I'm super happy for the progress.
No, the market has just been way better than average the last year. And because it was down for part of 2018, you got a double-whammy in your favor as you dollar-cost-averaged in.
My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.Well that plan is out the window.
Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M
New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.
1098 more days :-)
Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.
Wow another year again. Feel like I'll be getting old soon at this rate. Hope not! Have been enjoying life. Inflated stock market and some lifestyle inflation may keep me working a bit longer but at the very least I will go half-time next year. My wife already went half-time this year. We are on the cusp of FIRE. Targeting 3.5x withdraw rate now based on most of my research over the past year.
I am sorry to say crossing the million $ mark was predictably disappointing /shrug
My wife ended up leaving her job completely at the end of the year. She was planning on doing consulting for her company but instead has been taking a mental health break and gotten really involved in volunteering.
We kind of reversed roles as she thought she was the one who wanted to keep on working forever but since her job was toxic I'm glad she's getting a break. She still does want to work and since it's been almost 6 months since she quite she's starting to apply for jobs again. The reality of the difficulty in finding a job in a small town is setting in but not enough to reach out to her old company. As such I decided to stay full time for now until she's employed again or figures out what she wants to do. We were kind of hoping to coast to fire but that hasn't exactly happened.
We've been on the cusp of fire for about a year but haven't really made much progress as I hoped. Was at 82% to our FIRE number last year at this time last year and slightly higher now at 88%. We experienced life-style creep (moved to more expensive place), lack of (as much) income and a slow market has kept us about 1 year away from FI for the past year it seems.
If I had stuck with the 4% rule goalpost we'd be there but I wasn't quite comfortable with it. One More Year syndrome is real. Our FI number is about 1500K it looks like. I wish it were lower but that's the reality. Can't argue with the numbers.
New table
Date Goal Actual June 2014 394K June 2015 550K 547K June 2016 750K 692K June 2017 842K 929K June 2018 1107K 1182K Dec 2018 1300K 1179K June 2019 current 1305K 2020? FIRE 1500K
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
Never told anyone this, but 9 figures is my NW goal much later in retirement, based on business, investments, etc. This is based on several assumptions of course, which I think are realistic for now, and am on track. Let’s see.Good luck!!
Looks like we met our 2017 goals but I am not confident that 2018 will be the same. We went through a move and 3 job transitions between the two of us this year. We also moved to an HCOL area where our housing expenses have significantly increased. The good news is our salaries have increased by around 21% and there is much greater potential for salary growth where we are now.
IF we can continue to meet our goals it will most likely be driven by a hot stock market or the crazy real estate market we are currently in. I guess only time will tell. :)
Date Added Per Year Total Estimated Year over year Gain Total Actual
Estimated
Year-End
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 $91,676 $368,051
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
Considering a 5% overall return, paper investments are projected as follows for FIRE. Assuming $6,000 per month additional investment. Also have 300k to 400k fully owned real estate not included in calculations.
FIRE 2018
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
*****Fire*********age 50
FIRE 2020
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
*****FIRE*********age 52
FIRE 2023
2016 $1,300,000
2017 $1,440,000
2018 $1,588,000
2019 $1,743,000
2020 $1,906,000
2021 $2,077,000
2022 $ 2,256,000
2023 $2,445,000
*****FIRE*********age 55 (minimum retirement age from employer)
I used a very conservative rate of return in my projected growth. Obviously we did better than 5%.
That being said, we've passed in 2019 my expected 2021 value. This is the last month that I can retire at 50. The temptation is great. I'm thinking 52 isn't a failure. With over 2.1M now, unless a recession hits we'll hopefully see another 250K by then.
Beware the power of OMY syndrome. Currently at 2,150,000 investment assets. Another 400k or so in real estate. The current and final goal is 2.5M in investment assets. So far this year we've come close to but never crossed 2.2M. I think we will cross 2.2M in coming months, however I expect to dip below 2.0M in the coming recession. So I'm stuck in OMY for a while.
Took less than a month with new highs, to cross the 2.2 Million investment mark. Mature portfolio growth is incredible.
2020 update. We've reached 2.32M liquid. Passing the 2022 goal set in 2016.
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.
We're at about $2,550,000 now. Most of the difference is a spreadsheet mistake on my part, where I left off the value of our primary home in the total field. The rest is 401K contributions, market growth, and the normal mortgage paydown.
It's enough. Will deploy some capital to get a 2 to 4 rental properties over the next 3 to 5 years. That's so we don't have to sell stock at all when the market is down.
Definitely switching from acquisition mode to preservation mode now that we've retired.
It's a year later and net worth is ~$2,720,000. A bit of that is the bump from taking two run down properties and renovating them. The rest is market gains.
We have 4 rentals. We flipped one house and I've got one that we're about to start work on. It's a zero profit flip to help out the family who's been helping us get our last two rentals fixed up.
I'm starting to look for another rental but won't get serious about it until later in the summer. Prices tend to start dropping around then and continue into the winter.
I would like to be at 5 rentals by this time next year and 6 the year after that. My buddy is taking the flip and going to try out AirBnB. If it goes well I'll give it a try, too. If not, it will still do well as a duplex.
I guess it’s been almost a full year since I posted here! Man, what a year it’s been! I ended up selling a lot less of my company than originally planned (about half) and so my projections from last January are no longer accurate. Due to the partial sale and some investment returns our current NW is $5.6M.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
Another 6 months in the book! It's fun looking back and seeing progress as I don't really track these milestones anywhere else. Just paid 4th quarter estimated taxes and prepaid 2018 state and property taxes so my current NW took a hit last week but I have some updated goals..
Current NW: $1.85M
Jan 1 2019: $2.35M
Jan 1 2020: $2.8M
Time for another update! It's been a good year income-wise so far and it looks like that should continue for at least another year hopefully, so I'm updating my goals a bit...
Current NW: $2.28M
Jan 1 2019: $2.45M
Jan 1 2020: $3M
I'm approaching a point where I don't need to work any longer, however I'm in a situation where I own my own business but it feels like it owns me. I'm not sure what to do once I hit my FIRE number as I can't really sell the business due to it being very dependent on me, but it's a cash-generating machine so it seems silly to just dissolve it. I guess I'll just keep at it for now.
All these quotes makes it a little tricky to see past progress so I'm gonna list it so I can see it more easily. It's crazy how fast your net worth can snowball once you get going:
Jan 2015 - $420k
April 2015 - $540k
Nov 2015 - $748k
Aug 2016 - $1.1M
Jan 2017 - $1.26M
July 2017 - $1.535M
Jan 2018 - $1.85M
Aug 2018 - $2.28M
Happy new year everyone! Almost made my goal but the markets had other ideas..
Jan 2019 Actual: $2.4M
I guess considering my original 2019 goal was $2M I can't be too disappointed. I guess I better make some new goals:
Current NW: $2.4M
Jan 1 2020: $2.9M
Jan 1 2021: $3.5M (FAT FIRE NUMBER!!!)
Jan 1 2022: $4.1M
Let's do this!
Man this last 6 months has flown by! Finding myself ahead of the curve so time to update the goals a bit:
Current NW: $2.88M
Jan 1 2020: $3.1M
Jan 1 2021: $3.75M
Jan 1 2022: $4.4M
Another day another dollar! 2019 was a good year financially, looks like I ended up almost up a million which is pretty ridiculous. I’m close to finalizing the sale of a large portion of my business which is why my projected net worth will be increasing quite a bit in 2021. Also factoring in a market pullback at some point in the not-to-distant future too.
Current NW: $3.35M
Jan 1 2021: $5.9M
Jan 1 2022: $6.0M
Jan 1 2023: $6.2M
Had to trim down the previous posts as it was going back every year to 2013. Feel free to click on the quote link above to see that. I also finally made up a spreadsheet to see this stuff visually. I'm going to update the goals and actuals based on that from now on, but long story short, I was aiming for 330 this year and hit 388k. Kinda stoked. This coming year, my wife got a job that pays well which should increase our savings rate even more. We're also going to finally sell the house this year as the boom in Denver has subsided and appreciation can't beat the primary residence tax exemption that thankfully didn't get changed in the new tax bill.
...
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
...
Jan 2014 Actual: ~$0k NW
Jan 2015 Actual: $90k NW, $69k non-mortgage debt
Jan 2016 Actual: $208k NW, $58k debt
Jan 2017 Actual: $292k NW, $47k debt
Jan 2018: Actual: $388k NW, $40k debt
Jan 2019: Goal: $500k NW, $30k debt
Jan 2020: Goal: $625k NW, $20k debt
Jan 2021: Goal: $750k NW, $10k debt
Jan 2022: Goal: $900k NW, $0k debt
Jan 2023: Goal: $1.1M NW, FIRE
We got the house sold but it cost more than expected to do that ($20k in asbestos mitigation) combined with this terrible December means I'm nowhere close this year but still above the goals I set in 2016. I knew this big run of every year doing way better than the goal was going to end eventually but progress is still definitely being made. Fortunately we were able to take the house money and just finish paying off all of the student loans way ahead of schedule. I usually am in the "keep investing over paying down low interest debt" camp, but it was variable interest rate debt and interest rates were going up and it was just a lot of mental energy to deal with every month so I just made it go away and feel better for it.
Re-edited the actuals to match the spreadsheet I have that adds in "Savings and Checking" now that that emergency fund is not inconsequential and I think I'll be setting my goals back to the 2016 goals.
Jan 2014 Actual: $13k NW, $99k non-mortgage debt
Jan 2015 Actual: $101k NW, $69k debt
Jan 2016 Actual: $218k NW, $58k debt
Jan 2017 Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Goal: $500k NW
Jan 2021: Goal: $600k NW
Jan 2022: Goal: $725k NW
Jan 2023: Goal: $850k NW
Jan 2024: Goal: $1M NW
I don't get this stuff anymore. Just checked my numbers and I'm at $625k today. Up $200k in one year?!?! And my wife wasn't even working this year?!?! How is this possible? My best guesses are that 1) the market was way below the moving average at the end of last year. 2) We dollar cost averaged the proceeds from the house throughout that whole downturn so we ended up set up very well for the following increase starting in January. Overall though it is just absolutely mind boggling that we did so well this year.
This year, I'm probably going to end up leaving the high paying job. Not going to full on FIRE, but move on to doing whatever I want to do that might earn money instead. My whitewater kayak instruction company might actually have legs and I am thinking of doing a 1000 mile rafting trip from Breckenridge to the bottom of the Grand Canyon. So add that all up and I'm going with the goal of a bit more this year and then just not pulling any money from it so it goes up at the stock market's CAGR:
Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Goal: $700k NW
Jan 2022: Goal: $747k NW
Jan 2023: Goal: $798k NW
Jan 2024: Goal: $852 NW
(Edit: in the graph below, Brown is savings in the bank account, Grey is investments in 401k, IRAs or Vanguard and Blue is net worth. The other lines were for student loans and mortgage and equity and stuff and don't really matter anymore.)
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.
We're at about $2,550,000 now. Most of the difference is a spreadsheet mistake on my part, where I left off the value of our primary home in the total field. The rest is 401K contributions, market growth, and the normal mortgage paydown.
It's enough. Will deploy some capital to get a 2 to 4 rental properties over the next 3 to 5 years. That's so we don't have to sell stock at all when the market is down.
Definitely switching from acquisition mode to preservation mode now that we've retired.
It's a year later and net worth is ~$2,720,000. A bit of that is the bump from taking two run down properties and renovating them. The rest is market gains.
We have 4 rentals. We flipped one house and I've got one that we're about to start work on. It's a zero profit flip to help out the family who's been helping us get our last two rentals fixed up.
I'm starting to look for another rental but won't get serious about it until later in the summer. Prices tend to start dropping around then and continue into the winter.
I would like to be at 5 rentals by this time next year and 6 the year after that. My buddy is taking the flip and going to try out AirBnB. If it goes well I'll give it a try, too. If not, it will still do well as a duplex.
So, about 16 months later and we're at about $2,705,000.
But we've also cut our expenses by a lot because all our debt is gone -- no more mortgage so that saves about $17k -- plus I'm now on SS so we've got another $24K in income.
We're actually where, if we stay on a generous budget that includes $1k / month in charitable gifts, we'll have a negative withdrawal rate on our stock stash.
Didn't really start tracking until 2017.
maybe writing it down and publicizing it will help reinforce good behavior.
this excludes our home which we owe free and clear. 2018's redeeming note is that we paid off the rest of our mortgage with a rather large payment.
this assumes 3% returns and a stable and pretty high income that allows us to save a lot of $. both of those could be wrong.
Net worth Ex-Housing
Jan-17 $1,370,994
Dec-17 $2,171,412
Dec-18 $2,409,607
Dec-20 $3,260,591
Dec-23 $4,886,560
Late to the party but here are my annual goals to FIRE
Start of
2015 - 105k 80k
2016 - 135k 136k
2017 - 170k 252k
2018 - 210k 357k
2019 - 255k 421k - FIRE'd in Sept '19
2020 - 305k 576k - back to work in Nov '20
2021 - 360k ~620k
2022 - 420k
2023 - 485k
2024 - 555k
2025 - 630k
2026 - 710k
2027 - 795k
2028 - 885k
2029 - 1 Million (FIRE!! @ 42 years old)
Year End | Est YOY Gain | Actual YOY Gain | Est Total NW | Actual Total NW | Investments Only |
2014 | $60,000 | $62,200 | $106,700 | $106,700 | $67,995 |
2015 | $71,169 | $96,768 | $177,869 | $203,468 | $133,291 |
2016 | $81,272 | $72,907 | $259,141 | $276,375 | $203,004 |
2017 | $86,718 | $91,676 | $345,859 | $368,051 | $329,652 |
2018 | $97,862 | $26,421 | $443,721 | $394,472 | $327,587 |
2019 | $104,419 | $165,723 | $548,140 | $560,195 | $507,311 |
2020 | $122,086 | $280,010 | $670,226 | $840,205 | $734,815 |
2021 | $130,265 | - | $800,491 | - | - |
2022 | $149,663 | - | $950,154 | - | - |
2023 | $159,690 | - | $1,109,844 | - | - |
2024 | $181,060 | - | $1,290,904 | - | - |
2025 | $209,096 | - | $1,500,000 | - | - |
1/16/19 NW = $263kYay! I finally hit my goal, and then some!!! Yay!!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
1/1/18 NW = $237k
Posting for my 6 year update!!! I can’t believe it!!!
7/29/13 NW = -$60k (yes, that was NEGATIVE 60k)
7/31/19 NW = $340k
I almost made my very end goal of $350k ahead of schedule!!! I guess i need to update those goals and make some new ones seeing how i never made goals past 1/1/2020.
New goals!! (These may be stretch goals after summer 2021)
1/1/20 $375
1/1/21 $455 (husband will retire from active duty in the summer of ‘21, future salary unknown)
1/1/22 $545
1/1/23 $635
1/1/24 $730
1/1/25 $840
1/1/26 $1 mil
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.
2014 $1.36M (actual)
2015 $1.54M (actual)
2016 $2.20M (actual)
2017 $2.15M (actual)
2018 $2.35M
2019 $2.55M
2020 $2.75M
Well, my goal was not met, but the biggest factor was the reduction in the ridiculous 2016 Zillow value of my home to a more reasonable number. Investments went up $192K, so I can't complain! My new venture has started to really gain some momentum, so I have added back in a very modest goal for adding a little bit to net worth.
Year | Goal | Actual |
2019 | $120k | $136.9k |
2020 | $210k | $227.8k |
2021 | $300k | |
2025 | $720k | |
2030 | $1.6m |
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 - Dec 2017: $307,562 / $143,612
2018:$355,000/$195,000Projected BOY 2018 - $360,000/$200,000 Dec 2018: $400,497/$174,888
2019:$420,000/$250,000Projected BOY 2019 - $475,000/$225,000 Dec 2019: $540,560/$276,161
2020:$500,000/$325,000Projected BOY 2020 - $625,000/$347,309 Dec 2020: $637,465/$369,025
2021:$575,000/$385,000Projected BOY 2021 - $735,000 /$470,000
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.
First year done! Overall NW is over my projections by $7500, retirement account balances are under by $1500, which I'm happy with, for sure.
Well, my 6% market increase estimate worked out well. Ha. Our overall net worth is up because we've had about $18,000 in extra income this year that I didn't account for in January. DH is doing a side-job thing with an old coworker for a nice hourly contractor fee. It's not reflected in our retirement balances because 25% is going straight to Ally for tax savings, and most of the rest of it has gone toward savings toward that new house down payment. We won't be moving for a few years, because a 20% down payment on a house with land is ... a lot... so this will probably continue in 2019/2020. We're also have another kid in March, so we're adding a $1300/mo daycare fee starting in June :(
Market increases have been awesome. We also sold our house for >$150,000 profit and bought a more expensive house with an acre of land outside of town. Still within a decent commute time, but lots more space and excellent views of the mountains. I think that accounts for a large part of our overall NW increase.
We're getting solar installed this year, so that'll be a chunk of money going out. It was SUPPOSED to happen in Dec 2019, but the company ran into some permitting issues, so now we don't get the tax credit until 2021, boo. They're offering some sort of reparation for the lost 4% credit from 2019 to 2020, at least.
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.
A more immediate update - Net worth without the primary residence = $365k. Net worth with primary residence (equity) = $465k.
Should be FIRE early 2022 @ a goal of 600k without primary residence. Will probably beat that given my deliberate conservative planning combined with the whole saving oodles thing.
A more immediate update - Net worth without the primary residence = $365k. Net worth with primary residence (equity) = $465k.
Should be FIRE early 2022 @ a goal of 600k without primary residence. Will probably beat that given my deliberate conservative planning combined with the whole saving oodles thing.
Well done! You're so close to FIRE. It must feel great.
This is actually a pretty hard exercise.
June 2019 - 200K invested/300 NW (actual)
June 2021 - 300K invested
June 2023 - 500K invested
June 2030 - 1 M invested
DD will start high school in 2032. Not sure if we'll have a 3rd kid yet. We'd like to be FI by the time she starts high school, but probably won't retire then. This feels like a stretch goal on our current income situation (DD works FT, I have small PT income), but very doable if I become more fully employed when DD starts kinder. Lots of balls still up in the air.
Nice to see everyone setting goals and working so hard to reach them! Onward and upward.
Good work Marty...
1.3 million in your early 30s? is no small feat....
Say you have been working for 10 years , that's nearly 130 k per year of working life saved...
What rough % did you attribute that to pure savings viz-a-viz investment gains you reckon?
(Asking for my own son's education..)
Putting aside the 25K in superannuation to reach your net worth in 10 years means he has to plow in minimum 75K upwards per year (around 6K per month) from his salary..OMG!
Hi Marty
thanks for the update....that low LVR is to be admired (or not??) ha ha!
50K investments plus 25K salary sacrifice per year is AMAZING!!!
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)
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.
A more immediate update - Net worth without the primary residence = $365k. Net worth with primary residence (equity) = $465k.
Should be FIRE early 2022 @ a goal of 600k without primary residence. Will probably beat that given my deliberate conservative planning combined with the whole saving oodles thing.
So early 2021 update...
Have hit 560k at the end of 2020. With a slight goal expansion to 650k we are going to hit our number this year. I do want to put together a slightly larger cash position since we are heavily in equities that are in tax advantaged accounts. I've planned on just taking the 10% hit given a low withdrawal quantity and a cash position will help mitigate that prompt a change to move to the 5 year Roth IRA conversion strategy.
My wife is interested in maintaining working so we'll see what happens. I reserve the right to be flexible with my plan even as it nears... conclusion isn't the right word as it isn't done, maybe this latest intersection?
If I get annoyed with work I may just call it quits and jump onto my wife's health insurance and start moving our garden to a larger scale operation. We just moved in late November so no garden prep has happened yet. My numbers are telling me we'll hit my arbitrary goal by 10/2021.
Not totally sure what the next phase looks like. I've mulled part time work or volunteer activities to provide some structure. I'll need to take some time to put something solid behind this. I've had this diffused cloud of possibilities in front of me this entire journey. I've let my brain bounce around each possibility and as my actual reality changed the possibilities altered. I think some chill time learning how to grow things sounds like a hell of a thing.
Wasn't a really Mustachian at this time last year (maybe started scratching the surface a bit) but since then my SO and I have converted fully! After discovering MMM in September, we started the process around October last year and have continued to make improvements since. In that time, my SO negotiated to work from home full time, got a 7% raise while I started a new job. And we moved so that I could bike there. We have also done numerous other things to kill off bleeding expenses (reducing cell phone bills, power bills, etc) as well as concentrating on living a minimalist life (no TV, getting rid of unnecessary possessions). We just sold one of our cars yesterday, hope to sell my truck soon so we will be a one car household!
Saw this post and thought we might as well join in on the goals. Hope to check in next year (this is our joint NW with home equity):
(Current - June 2014) - 429K
1 Year (June 2015) - 600K
2 Years (June 2016) - 800K
3 Years (June 2017) - 1MM
Honestly those are a bit of a stretch, but I hope raises and our lifestyle changes (and market returns) may help us hit them. Though we are both relatively young (27) we have a few challenges in that we are paying for the mortgage for my SO's mother's place since she came to the US later in life to escape a war, raised 4 kids without a husband and has no retirement savings. That'll slow down our FI by a year or two (if we don't count that condo then our real NW number is the above minus 220K) but it's worth it to us. I also loaned my sister 60K to help her buy a house so I suppose that could be tacked on to our NW as well but I don't expect to see that money again for a long time (if ever).
We've been on the cusp of fire for about a year but haven't really made much progress as I hoped. Was at 82% to our FIRE number last year at this time last year and slightly higher now at 88%. We experienced life-style creep (moved to more expensive place), lack of (as much) income and a slow market has kept us about 1 year away from FI for the past year it seems.
If I had stuck with the 4% rule goalpost we'd be there but I wasn't quite comfortable with it. One More Year syndrome is real. Our FI number is about 1500K it looks like. I wish it were lower but that's the reality. Can't argue with the numbers.
Drawing a line in the sand now. I've got another calendar reminder set for next year and, genuinely, I expect that to be the last update. We are sitting at less than a 3.25% withdraw rate for our stash right now, we've paid off our mortgage for my MIL's house, and Covid has (for us) been a non-issue on the financial side so I'm pretty much done with excuses. A big thanks to MMM and the forum for getting us started down this path way back in 2013!
Regarding the actual (liquid) net worth we hit 1422K in June. That's a bit (90K+) lower than it would be otherwise due to the mortgage payoff. I expect to be around 1550K in February 2021 barring a more permanent financial crisis.
Date | Goal | Actual |
June 2014 | 394K | |
June 2015 | 550K | 547K |
June 2016 | 750K | 692K |
June 2017 | 842K | 929K |
June 2018 | 1107K | 1182K |
Dec 2018 | 1300K | 1179K |
June 2019 | I think I missed this goal? | 1305K |
June 2020 | Was supposed to be FIRED but OMY syndrome | 1422K |
Dec. 2020 | FIRED! I think. Took a sabatical. | 1710K |
June 2021 | Yep I think I'm definitely feeling FIRED. Still technically on a sabatical but no plans to return. | 1818K (2166K with home equities) |
Year | Goal | Actual |
2019 | $120k | $136.9k |
2020 | $210k | $227.8k |
2021 | $300k | $289.1k |
2025 | $720k | |
2030 | $1.6m |
Had to trim down the previous posts as it was going back every year to 2013. Feel free to click on the quote link above to see that. I also finally made up a spreadsheet to see this stuff visually. I'm going to update the goals and actuals based on that from now on, but long story short, I was aiming for 330 this year and hit 388k. Kinda stoked. This coming year, my wife got a job that pays well which should increase our savings rate even more. We're also going to finally sell the house this year as the boom in Denver has subsided and appreciation can't beat the primary residence tax exemption that thankfully didn't get changed in the new tax bill.
...
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
...
Jan 2014 Actual: ~$0k NW
Jan 2015 Actual: $90k NW, $69k non-mortgage debt
Jan 2016 Actual: $208k NW, $58k debt
Jan 2017 Actual: $292k NW, $47k debt
Jan 2018: Actual: $388k NW, $40k debt
Jan 2019: Goal: $500k NW, $30k debt
Jan 2020: Goal: $625k NW, $20k debt
Jan 2021: Goal: $750k NW, $10k debt
Jan 2022: Goal: $900k NW, $0k debt
Jan 2023: Goal: $1.1M NW, FIRE
We got the house sold but it cost more than expected to do that ($20k in asbestos mitigation) combined with this terrible December means I'm nowhere close this year but still above the goals I set in 2016. I knew this big run of every year doing way better than the goal was going to end eventually but progress is still definitely being made. Fortunately we were able to take the house money and just finish paying off all of the student loans way ahead of schedule. I usually am in the "keep investing over paying down low interest debt" camp, but it was variable interest rate debt and interest rates were going up and it was just a lot of mental energy to deal with every month so I just made it go away and feel better for it.
Re-edited the actuals to match the spreadsheet I have that adds in "Savings and Checking" now that that emergency fund is not inconsequential and I think I'll be setting my goals back to the 2016 goals.
Jan 2014 Actual: $13k NW, $99k non-mortgage debt
Jan 2015 Actual: $101k NW, $69k debt
Jan 2016 Actual: $218k NW, $58k debt
Jan 2017 Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Goal: $500k NW
Jan 2021: Goal: $600k NW
Jan 2022: Goal: $725k NW
Jan 2023: Goal: $850k NW
Jan 2024: Goal: $1M NW
I don't get this stuff anymore. Just checked my numbers and I'm at $625k today. Up $200k in one year?!?! And my wife wasn't even working this year?!?! How is this possible? My best guesses are that 1) the market was way below the moving average at the end of last year. 2) We dollar cost averaged the proceeds from the house throughout that whole downturn so we ended up set up very well for the following increase starting in January. Overall though it is just absolutely mind boggling that we did so well this year.
This year, I'm probably going to end up leaving the high paying job. Not going to full on FIRE, but move on to doing whatever I want to do that might earn money instead. My whitewater kayak instruction company might actually have legs and I am thinking of doing a 1000 mile rafting trip from Breckenridge to the bottom of the Grand Canyon. So add that all up and I'm going with the goal of a bit more this year and then just not pulling any money from it so it goes up at the stock market's CAGR:
Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Goal: $700k NW
Jan 2022: Goal: $747k NW
Jan 2023: Goal: $798k NW
Jan 2024: Goal: $852 NW
(Edit: in the graph below, Brown is savings in the bank account, Grey is investments in 401k, IRAs or Vanguard and Blue is net worth. The other lines were for student loans and mortgage and equity and stuff and don't really matter anymore.)
So this year I basically FIREd. I quit my tech job to start teaching kayaking full time (whitewaterworkshop.com). I made around $17k in 4 months of work. It's weird how the change basically didn't affect my net worth at all compared to what the market was doing. I postponed leaving from April to July and took all of the money I earned in that timeframe and dumped it into the cheaper stock market, combined with doing my IRA contributions during the March crash.
Going forward, I'm kinda done with "Goals" it's more like "guesses." The Goal was FI and I'm there now. So maybe the Goal now is just to maintain FI? Sure seeing the number continue to grow would be cool but honestly, it doesn't really matter now that it is enough to cover rent and health insurance forever. Either my wife or I can make enough money to cover food and toys doing stuff we enjoy part time so why would it need to be bigger?
That said, in terms of Guesses, I'm thinking that after 2 years of crazy increases, a real long term decrease or plateau is probably coming. That combined with me not working anymore and I'm going to guess somewhere between a 4%/year increase and a linear regression of the past 9 years:
Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Actual: $773k NW
Jan 2022: Goal: $780-804k NW
Jan 2023: Goal: $836-880k NW
Jan 2024: Goal: $860-990k NW
Year | Goal | Actual |
2019 | $120k | $136.9k |
2020 | $210k | $227.8k |
2021 | $300k | $331.8k |
2022 | $420k | |
2023 | $520k | |
2025 | $740k | |
2030 | $1.6m |
Oh hey. I wanna play this game! I've done basic calculations on this for a long time by myself, but I'm curious to see how it really stacks out.
2020: $103113 (actual: $138192)
2021: $141431 (actual: $270689)
2022: $184501
2023: $229516
2024: $277682
2025: $329220
2026: $384366
2027: $443371
2028: $506507
Interesting gauntlet!
1998 NW: $2.2K
2008 NW: $38.0K (+$3.6K/yr)
2015: found MMM
2018 NW: $268.2K (+$23.0K/yr)
2019 NW: $344.0K (+$75.8K) - newly divorced
2020 NW: $408.5K (+$64.5K)
2021 NW: $543.4K (+$134.9K) holy cannolis!
At this point I am going to estimate investment balance instead of NW
Plan Actual
2021 $505.3K
2022 $586.1K $459.0K
2023 $673.4K
2024 $767.8K
2025 $868.2K
2026 $977.7K
2027 $1.1M
Spoiler: show
End of year NW/retirement goals:
2017: $300,000/$145,000 - Dec 2017: $307,562 / $143,612
2018:$355,000/$195,000Projected BOY 2018 - $360,000 / $200,000 Dec 2018: $400,497/$174,888
2019:$420,000/$250,000Projected BOY 2019 - $475,000 / $225,000 Dec 2019: $540,560/$276,161
2020:$500,000/$325,000Projected BOY 2020 - $625,000 / $347,309 Dec 2020: $637,465/$369,025
2021:$575,000/$385,000Projected BOY 2021 - $735,000 / $470,000 Dec 2021: $784,070/$517,027
2022:$650,000/$475,000Projected BOY 2022 - $900,000 / $637,000 Dec 2022: $764,835/$517,794
2023:$1,025,000/$850,000Projected BOY 2023 - $875,000/$606,325
2024: $1,200,000/$950,000
Again, market gains this year were ridiculous. My husband has been getting pretty decent raises/bonuses, so that helps too. This end of year retirement balance is WAY past my original goal for 2022. I added some 2023 and 2024 goals, I can't believe this thread has been around so long now. Getting closer!
Went from being in the 500's to 700's this year, but not counting on that to continue.
Here's the relatively conservative contributions plus average of 7% goals for the next 5 years.
2022 800k
2023 885k
2024 975k
2025 1070k
2026 1100k - looking to FIRE sometime in 2026 at the latest
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!).
Blast from the past: We're a little bit ahead of the goal we set in January 2014, with $600k saved rather than $500k. For the last year and half we've been spending more on rent than our entire budget before moving to California. Hopefully we can move somewhere much cheaper (basically anywhere in the US except downtown San Francisco or Manhattan) after I'm done with training and get out of the rent stratosphere.
Congratulations to everyone else who's on track or exceeding! Happy New Year!
Net worth = $0 by January 2014. And its going to be amazing!
This site is amazing.
Net worth = $0 by January 2014. And its going to be amazing!
10 years. I've posted in this thread for 10 years. This site is amazing. Thinking back on where I was when I started on this journey is surreal. I was two years out of college and really disillusioned at the prospect of doing this job thing for another 40+ years. Then I saw a post about MMM on news.ycombinator.com in 2012 and was immediately hooked. The naysayers on that site just didn't understand it but I did. I saw a way out of the dreary boredom of office work.
My wife and I kept plowing money into our student loans and then when those started to dry out, we just kept flooding money into retirement accounts. Within 2 years we had a net worth of $0. At 8 years the nest egg was big enough to cover at least rent and health insurance for the rest of my life, so I left the tech industry in 2020 and started a business teaching whitewater kayaking. I was out. 8 years. That's what it took. 8 years with a long term net worth goal.
Since then the market went up (I was a millionaire for a month in 2021!) and down but the freedom and resiliency I've learned here makes it not a big deal. I'll just keep being happy doing something that brings me joy and not stuck in a rat race.
Thanks MMM and the community! The system works. Good luck to all of you still working towards your goals!
Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Actual: $773k NW
Jan 2022: Actual: $1,010k NW (yay covid bull market)
Jan 2023: Actual: $876k NW (back to normal)
Jan 2024: Goal: $950k NW
Interesting gauntlet!
1998 NW: $2.2K
2008 NW: $38.0K (+$3.6K/yr)
2015: found MMM
2018 NW: $268.2K (+$23.0K/yr)
2019 NW: $344.0K (+$75.8K) - newly divorced
2020 NW: $408.5K (+$64.5K)
2021 NW: $543.4K (+$134.9K) holy cannolis!
At this point I am going to estimate investment balance instead of NW
Plan Actual
2021 $505.3K ($515.3K w/ bonds)
2022 $586.1K $459.0K ($480.2K w/ bonds)
2023 $673.4K $657.0K
2024 $767.8K
2025 $868.2K
2026 $977.7K
2027 $1.1M
Went from being in the 500's to 700's this year, but not counting on that to continue.
Here's the relatively conservative contributions plus average of 7% goals for the next 5 years.
2022 800k
2023 885k
2024 975k
2025 1070k
2026 1100k - looking to FIRE sometime in 2026 at the latest
I did end 2022 north of 800 for the accounts I was tracking in 2021, but only because of a large one time deposit.
That extra influx does mean that the other goals are still on track.