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General Discussion => Throw Down the Gauntlet => Topic started by: arebelspy on July 12, 2013, 10:06:24 PM

Title: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 12, 2013, 10:06:24 PM
With all the recent celebrations of hitting net worth milestones (1 (http://www.mrmoneymustache.com/forum/share-your-badassity/just-hit-$500k-nw/) 2 (http://www.mrmoneymustache.com/forum/share-your-badassity/net-worth/) 3 (http://www.mrmoneymustache.com/forum/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).
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Joet on July 12, 2013, 10:52:50 PM
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Nords on July 12, 2013, 11:13:13 PM
Here's my Net Worth Stretch Goals:
I'm sorry, didn't you post a while back that you've achieved FI?

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?

I'm not so sure that FI should be the basis of striving for even greater wealth.  It might be confused with cranking the hedonic treadmill up to "11".

Our net worth goal:  well, we don't really have one.  We mostly sit there watching the money roll in faster than we care to spend it, and wondering what other stewardship efforts we should be considering.  At this point about the only "goal" we could claim would be to hustle up with the Roth IRA conversions while we're in a lower tax bracket.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: sol on July 12, 2013, 11:32:31 PM
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.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 12, 2013, 11:35:48 PM
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.  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 12, 2013, 11:39:16 PM
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

Cool!  Round numbers are fun.  Is 100k/year a stretch based on your current savings/income levels?

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.

Awesome.  FI in two and 1/2 years sounds like a good goal.  When will you hit it without stretching for it (assuming, say, 0% market returns and current savings levels)?

We also will probably work past our final FI number, but maybe not.  Might take a year off to RV around.  Either way the options are nice.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Joet on July 13, 2013, 12:42:47 AM
100k would be saving less than current levels. But I'm a bad panda and like easy to hit goals (packing for fiji as we speak), also ignores annual bonuses which makes it even easier. Plugging some holes in the budget should help too, lol dog walker.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ender on July 13, 2013, 09:52:25 AM
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 :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 13, 2013, 10:12:50 AM
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.  :)

Congrats on writing down some goals.  Good luck!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: lhamo on July 13, 2013, 11:00:30 AM
We could probably consider ourselves FI now, based on the sale of our apartment at current values -- that would give us enough of a stash that we could do pretty much whatever we wanted.

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

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

2-5 years out:  If still working, aim to continue to increase net worth by 10%/year.  If not working, change our living situation so that we are living on a 2-3% SWR (would likely require leaving Beijing)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Herbert Derp on July 13, 2013, 03:21:16 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 13, 2013, 03:33:01 PM
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.

Awesome goal.  How many people say they want to be a millionaire by the time they're 30, but then hit 30 completely broke?

8 years to make up that 200k gap = 25k/year shortfall.  That sounds doable!

Good market returns may help, along with raises and any side income.  Good luck!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: matchewed on July 13, 2013, 04:14:45 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: kkbmustang on July 13, 2013, 04:46:52 PM
The Hubs doesn't want to play, but I do.

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on July 13, 2013, 09:07:48 PM
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.  :)

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?

So you know where I'm coming from...I'm asking because my next task--on a long list of "financial tidying"--is to figure out exactly how much we have coming in from dividends. Right now, they all get reinvested. Although I've reviewed individual dividends, I've never added it all up to see what the income would look like. I have a hole in my knowledge about how exactly I would calculate my income from my current net worth.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on July 13, 2013, 09:15:14 PM
Now back to the topic at hand.

Based on my calculations, I'm fairly certain I can hit FI in 5 years if we can keep to the 80% savings rate. (We were at 61%, but I think I can increase it to 80%). That doesn't assume pay raises, and SO gets a raise in the fall. Also, we have some more budget optimization we can do.

I don't feel comfortable sharing particular numbers here, but I'll write 'em down on paper.

It'll be nice to know I can quit even if I end up staying for fun. ;-)



Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: kkbmustang on July 13, 2013, 09:33:54 PM
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on July 13, 2013, 09:50:28 PM
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

Oh, wow. I am glad you mentioned private school. I forgot to add that into increased savings in a few years. I have some revision to work on too.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 13, 2013, 10:07:24 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: The_Dude on July 13, 2013, 10:59:31 PM
Currently just over $700k. Goal is $1M in 3 years.

To hit this goal would require the following:
1) Stay in my current position and continue to earn top ratings for the high bonuses
2) Keep my much higher recent savings rate of over 50% of gross pay (avg of past 5 years was 36%)
3) Doesn't depend on additional returns of the stock market but any drop from the current highs that doesn't recover by my 3 year mark would cause me to miss my goal.
4) staying with current employer 3 more years in order to fully vest in my 401k with its uber match

The biggest factors that make this a "stretch" is that I don't seem to enjoy my job anymore and don't think I can sustain a 50%+ gross savings rate over the next 3 years.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: gooki on July 14, 2013, 02:36:14 AM
Target net worth: one million dollars in 4.5 years. This will co-inside with both my children being in school. At which point my wife and I will be free to pursue our own endeavours between the hours of 9am to 3pm. It may well be work, or volunteering or our own business, who knows.

Current net worth: 470k (majority of it in home equity).
Jan 2014: 500k
Jan 2015: 580k
Jan 2016: 690k
Jan 2017: 800k
Jan 2018: $1,000,000.00

If we had two incomes I'd be very confident we could hit that goal. With just mine it's going to be a stretch.

FWIW, we only have one major expense planned during that time. A family trip to Europe so our relatives can meet our children.


Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on July 14, 2013, 07:10:38 AM
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.

Thank you. I'll look in the journals section too. I find it interesting how real estate reduces the time to FI. I appreciate the explanation. =-)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: icefr on July 14, 2013, 05:45:01 PM
Current net worth is ~$280,000. I would call myself FI with my current situation at a net worth of around $900,000 to $1 million, including the value of my condo. My stretch goal is to hit that by the end of 2018, 5.5 years from now. I'm forecasting a net worth of $330,000 by the end of this year, so that means I need to accumulate an average of $114,000 to $134,000/year to hit my stretch goal, the lower end of which is completely plausible at my current income.

I had originally planned to pay off the mortgage by the end of 2017 (before the rate resets on my ARM), but I think it can be paid off by the end of 2015, so another 2.5 years from now, or 2 years ahead of the original plan.

I'm also working to cut my expenses down, though I haven't set as concrete of goals there. I've made some progress - it's looking like I should be at/around my 2011 spending versus last year's. My current goal is to get my monthly expenses ignoring the mortgage P&I down to < $2,000/month on average. It's looking unlikely to hit that goal overall for the year, but I may come close and at the very least, I have improved things somewhat.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Phoebe on July 14, 2013, 07:57:20 PM
Current networth: ~$428K, age 29

Goals:
$500K: ~October 2013, age 29
$600K: ~February 2014, age 29
$750K: ~October 2014, age 30
$1M: ~September 2015, age 31
$2M: ~January 2019, age 34
$3M: ~September 2021, age 37

When we hit $1M we're comfortably FI, and $3M is my drop dead day, where I quit no matter what.  Just not sure when I'll actually retire.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 14, 2013, 08:06:25 PM
Just not sure when I'll actually retire.

All you need is enough.

;)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Michelle119 on July 14, 2013, 08:17:06 PM
Current NW ~$90k

End of 2013 ~$115k
End of 2014 ~$175k
End of 2015 ~$200k

We are hoping to have kids and the first would be born in 2015 so moderate savings that year and beyond that who knows, depends on what I do for work.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dragoncar on July 14, 2013, 08:41:39 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FiveSigmas on July 14, 2013, 08:44:59 PM
Just not sure when I'll actually retire.

All you need is enough.

;)

< Image of Fry squinting >
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 14, 2013, 08:47:53 PM
< Image of Fry squinting >

I see what you did there.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Phoebe on July 14, 2013, 09:07:37 PM
Just not sure when I'll actually retire.

All you need is enough.

;)

Ha! Touche! :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cecil on July 14, 2013, 10:35:25 PM
Net worth goals are hard because I don't want to feel like I've failed if the market tanks one year, and I don't want to feel fantastic about myself if it spikes by 30%. That said, assuming a 7% annual market rise, I project the following

Current: $253k ($177k index funds + $76k equity)
My 30th birthday (late 2014): $350k
5 years from now (mid 2018): $650k
My 35th birthday (late 2019): $800k, and in theory enough to partially FIRE, depending on the kid situation.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: smalllife on July 15, 2013, 05:50:12 AM
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.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Another Reader on July 15, 2013, 07:16:50 AM
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).

- Arebelspy

Works for me.  Why would you SELL assets that are providing you a high SWR with no decumulation and growth of principal?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 15, 2013, 09:35:40 AM
Why would you SELL assets that are providing you a high SWR with no decumulation and growth of principal?

Simplification.  An index fund is less passive than a portfolio of properties.  I'm willing to put up with the small hassle to add years of freedom.  I'm not willing to wait until I get my SWR low enough for traditional means.  But if and when I have so much more than enough that I can switch to a low SWR via index funds, I may take advantage of that.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Zaga on July 15, 2013, 10:33:32 AM
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.

Ultimately we want a passive income of $40K, which is plenty for us to live very comfortably in our paid for house.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: nawhite on July 15, 2013, 01:42:48 PM
Net worth = $0 by January 2014. And its going to be amazing!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ChiStache on July 15, 2013, 03:05:45 PM
Current NW: $122,000 (more than half of this is in home equity)

Goal NW (for financial independence): $750,000 + paid off house

I hope to get there in 15 years, by the time I'm 45.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: michelle on July 15, 2013, 08:22:21 PM
I usually avoid stuff like this since I can get caught up daydreaming.

July 2013:  Currently at $420,000 ($115k home equity, $260k retirement accounts, $45k cash/brokerage)
July 2014:  Goal $600,000
July 2015:  Goal $800,000 

Net worth increase since 6/2012 has been $165K  so this should be reasonable unless the market takes a dive (which would be okay to load up)







Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: zinnie on July 15, 2013, 10:17:05 PM
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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: PathtoFIRE on July 16, 2013, 08:32:56 AM
Net worth = 175k (not including home equity)
Current trajectory = 1mil by 7/2018 (increase NW roughly 150k/yr)
Stretch = 1mil by 7/2016

My stretch goal would require an additional 100k/yr, which is a big stretch, especially with the 3 kids in daycare starting next month, but I guess it's not stretching without a little pain and difficulty.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: gecko10x on July 16, 2013, 10:19:37 AM
Goal: Quit my 9-5 day job when (or before) kids finish high school (2028).

In reality, this mostly depends on income, but equates to a NW of ~1M by 2025.

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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: forward on July 16, 2013, 03:05:43 PM

Goal: Increase NW by ~ 120k/yr for next 5 years. 

This is a bit of a stretch and I know there are things in the 2-4 year range that will negatively impact my accumulation.  But its good to put this goal out there!  If I just keep focused, keep reducing expenses and investing the surplus I can do it.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on July 16, 2013, 08:08:44 PM
My stretch goal is 5 years. That is really a stretch. Whether I can make it that soon depends upon raises and deciding if I want to give up certain experiences to reduce expenses even more.

My non-stretch goal is 6-7 years to FI. Not sure if I'll retire FT at that point or not.

SO wants to keep working. If that holds true, that makes my ER all the more possible.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Joel on July 16, 2013, 11:02:03 PM
My goal is to retire by 50.

I am currently 24.

I should have plenty of years to reach that goal, but I don't plan on being as mustachian as some. I probably will never ditch cable or my smartphone. I plan to have a big house that will likely cost 500-800k. I plan on having a few kids, and a few pets. I plan on traveling, golfing frequently, and attending 49ers and giants games regularly. I plan to have a relatively expensive wedding (under 20k). I don't plan on getting rid of my car any time soon, and probably ever. I have one hot rod that I enjoy working on, and dream on blowing a bunch of money on another car that will be built for the drag strip.

These are several things I value in my life, and as great as it would be to retire before 50, I think a more realistic goal would be to work until 50 because at that point in my career I will be a CFO or controller of a company and be making a significant salary. The financial flexibility could allow me to take a position I really enjoy earlier and work longer as a result.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Nords on July 20, 2013, 11:14:30 PM
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.  :)
Ah, thanks.  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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: orpheus on July 21, 2013, 02:03:02 AM
Current net worth of $725k
50k superannuation ( managed fund)
$675k equity over 3 investment properties valued at 1845000
At 5.43% and interest only mortgages we earn 25k per year over and above all bills.

Trying to decide if we should continue buying further properties or to diversify into index funds.

My goal is 2.0m

With 5% growth on the properties over 10 years that should do it I think we will also invest half our wages (50k) into index funds over the next 10 years.



As soon as we hit 2.0m after repaying debt we are out and will figure out how to structure it to get SWR of 4%. (80k)

We will be 48 and 46.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 21, 2013, 09:24:24 AM
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.

No doubt that may happen.  OMY is a vicious beast.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Another Reader on July 21, 2013, 09:38:39 AM
I want to dispose of a couple of poorly performing, poorly financed mistakes, but because I have owned them for so long the capital gain and depreciation recapture are not trivial.   A 1031 exchange is difficult to execute, because I'm over the conventional loan limit, and of course I can't refinance.  I would likely have to make up the difference in cash if I did an exchange.  I have a feeling I will fall prey to OMY, or worse, OM Decade.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ender on July 21, 2013, 09:56:19 AM
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.  :)


This is definitely true ;)

Hah.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: brooklynmoney on July 28, 2013, 09:58:55 AM
My goal is to increase my net worth by 100K in 2013. I'm on track so far.  That would put me at $620K by January 1, 2014. 
Not counting my hard assets (furniture, cash value of a life insurance policy).  As of end of Q2 I was at about $550 net worth.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mazzinator on July 29, 2013, 07:16:33 PM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

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

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

Feels great to just put it in writing!! I've been so focused just on the debt number that i rarely look at the positive numbers..
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FuckRx on July 30, 2013, 09:53:02 AM
A little different than other but here we go....

current net worth: -$1,007,000 (2 condos, 2 students loans, credit cards, cars)
2014 goal: -$780,000
2015 goal: -$600,000
2016 goal: -$380,000
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: gecko10x on July 30, 2013, 10:07:38 AM
I have to say I'm a bit envious of those of you who can move the needle by $200k/yr :-/
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Johnny Aloha on July 30, 2013, 11:36:44 AM
I want to dispose of a couple of poorly performing, poorly financed mistakes, but because I have owned them for so long the capital gain and depreciation recapture are not trivial.   A 1031 exchange is difficult to execute, because I'm over the conventional loan limit, and of course I can't refinance.  I would likely have to make up the difference in cash if I did an exchange.  I have a feeling I will fall prey to OMY, or worse, OM Decade.

Worst case scenario is that you don't do a 1031 exchange and end up paying 15% tax on the capital gain and depreciation recapture, right?  That's unpleasent but still a relatively low tax rate.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: tomsang on July 30, 2013, 12:17:52 PM
A little different than other but here we go....

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

This looks more like debt vs. net worth.  Do you truly have a negative million in networth?  Condos and cars would be an asset which would offset the debt. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FuckRx on July 30, 2013, 08:02:50 PM

then maybe not...
how do you guys calculate net worth?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: tomsang on July 30, 2013, 08:07:32 PM
Networth = Assets - Liabilities.

So add up all of your asset and subtract off all of your liabilities.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Saving mom on July 30, 2013, 08:35:54 PM
With home equity, we are at $1MM but not FI. Savings goal is 60% of net pay and we aren't remotely there. We are saving $50,000 per year and I was able to take a year off and live off savings. I really truly like to work and am fortunate to work in an industry that pays six figures base + bonus but after sitting in a cube for 50 hours a week for 6 weeks, I have a three year plan to bank a ton of money and then have us both dial back workloads or take time off to travel with kids.  I am selling my car to buy an older, more used one, cutting out cable and landline and turning up the thermostat. Looking at real estate investments and buying up distressed notes for personal investments. I would like to be at $3MM by 45 and that will have to involve making some well-timed, lucky investments.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: tomatoprincess on July 30, 2013, 08:51:12 PM
No long terms goals for me, have no idea what my life will be like (single, no kids currently).

Short term goal is to be at $100,000 by the end of this year. Currently at 80k, which means I need to add $4000 to the stash each month! Average income is $4900 per month right now...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 19, 2013, 10:26:56 AM
I want to retire in 5 years at the age of 50.  I just pulled out my calculator and added it all up.  Current net worth is $632,000 (assuming restricted stock will vest as scheduled over next 3 years).  This includes equity in my current home (which I will sell at retirement) and my retirement apartment.

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

Until I started reading this blog and forum a couple of months ago, retirement seemed like a distant dream.  Now it's a reality I know I can achieve within just a few years.  Yeah!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mazzinator on January 03, 2014, 06:43:00 PM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

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

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

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

Did not hit the end of year goal of -$20k... Only made it to -$29k...set your goals high, right??
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Rebecca Stapler on January 03, 2014, 06:46:20 PM
I would love to have a zero net worth by January 1, 2015. But that is a wee bit too ambitious, so I'll aim for:

1/1/15: -$50,000
1/1/16: $0
1/1/17: $100,000
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Charlotte on January 04, 2014, 03:58:41 AM
I would like to double our net worth in 5 1/2 years (thinking April of 2019), but this assumes DH keeps working (an unlikely assumption).

But I try not to focus on it too much because I become a bit obsessed and forget to live life along the way!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Abe on January 04, 2014, 08:45:38 AM
We have a goal of saving $100k per year for the next 5 years, then up that to $220k per year once my residency is finished. We should be able to retire 5 years after that, but probably won't (I spent too much time training to be my own boss for only 5 years!).
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: marty998 on January 04, 2014, 03:45:32 PM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

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

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

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

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

Yes but you gained $31,000. Which is so much better than being at -$60k and not setting a goal and not doing anything about it!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: nawhite on January 06, 2014, 10:20:15 AM
Net worth = $0 by January 2014. And its going to be amazing!

If I count appreciation on my house (according to zillow which is fairly accurate in my area), I hit $0 net worth in early December. If I don't count the appreciation, I will hit $0 net worth last Friday but will probably drop down below $0 again before the next paycheck. From that point on though its UP UP UP!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ichangedmyname on January 06, 2014, 10:23:17 AM
Reach $500k in 12 years or earlier.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on January 11, 2014, 05:27:09 PM
Net worth = $0 by January 2014. And its going to be amazing!

If I count appreciation on my house (according to zillow which is fairly accurate in my area), I hit $0 net worth in early December. If I don't count the appreciation, I will hit $0 net worth last Friday but will probably drop down below $0 again before the next paycheck. From that point on though its UP UP UP!

Nice work!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: iris lily on January 12, 2014, 10:40:08 AM
2M in liquid assets plus paid-for house is my personal goal. It's achievable within 1 -2 years with a bullish stock market but that is a crapshoot to maintain. It would be fun to be there at a point, though, even if the market drops as it did in 2005.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: SwordGuy on January 12, 2014, 11:45:59 AM
For me, net worth isn't a useful measurement for FI.  That's because I have no debt and don't intend on selling my house, cars, or other household furnishings.

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

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

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

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

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

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: pachnik on January 12, 2014, 12:05:18 PM
For those of you who are younger and want to learn from my mistakes...

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

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

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

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

My plan is to grow the money that I have and at this point I am pretty much fully invested except for about $13,000.00.  The other part of my plan is to put $1,000/month into my RRSP which is 35% of my income.  I am going to work on saving a higher percentage of my income as well. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: MMMdude on January 12, 2014, 03:03:23 PM
Net worth, end of 2013 - 1M including house
2014 - 1.1M
2015 - 1.25
2016 - 1.375
2017 - 1.5
2018 - 1.7
2019 - 1.9
2020 - 2.1

At that point I might be done.  Arghh, such a long ways to go still
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Phoebe on January 14, 2014, 03:04:11 PM
Love this thread!

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

After that we'll be FIRE, so I may retire or work a bit longer, we'll see!!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on January 29, 2014, 04:22:10 AM
Love this thread!

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

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

Wow. That is great! Socking away/earning $500K in two years is fairly remarkable. =-)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Shor on January 29, 2014, 01:36:55 PM
Current Net Worth: $100k
Target Goal: $200k by 2018

Stretch goal is $225k in the same amount of time.
This will be done by trimming the everyday expenses and limiting some of the bigger upcoming future purchases. The target goal is only so low because I know that there will be certain big-ticket expenses coming up in the next 4 years...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: brooklynmoney on February 02, 2014, 08:08:14 PM
My goal is $1 million liquid as fast as I can achieve it, hopefully in about 3 years. I will still owe about maybe $279K on a mortgage at that point (even paying down extra every month), but will still feel much more secure. I think. Hoping I can sweat it out in my job until then. At that point will think about trying to find a more sustainable position/rewarding career maybe.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: RaveOregon on February 04, 2014, 12:15:57 PM
I ended 2012 at $30,000  and 2013 at about $65,000.

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

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

I probably will struggle on these even if I angle for a raise at work, grow my side income and cut my spending, but if it wasn't a stretch it wouldn't be good for the gauntlet!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: catccc on February 04, 2014, 02:39:23 PM
we are at $474 at the end of 2013.

Hoping to reach $570K by the end of 2014

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

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

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

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

 Goals are based on very conservative returns.  Somewhere in here we will pull the plug on working unless another one of our elderly parents has problems. 48 is a decent age to quit. Dunno, may fall into OMY or two more. At 50 definitely done.  Really like my job and the people I work with.  We have been very fortunate.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: soccerluvof4 on February 25, 2014, 09:40:14 AM
Ok, See if this works out as planned. Been running these numbers conservatively for 2 months now. Currently slightly above 1.35M excluding Paid for house worth 550k.(No Mortgage) 350k Vacation Home (no Mortgage)

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: RedHotLama on February 25, 2014, 12:30:25 PM
Over the past couple years our NW has gone up significantly.

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

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

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

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

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

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

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

This also assumes my wife continues to work with baby 2. Or else I'm going to need a major promotion. :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Blindsquirrel on February 25, 2014, 05:13:48 PM
SoccerLuvof4, you are really underestimating your NW by 900K, 2017 you will be >3.1M when the RE is included. Redhotlama- you have crossed the inflection point where returns get stupid! Awesome!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: totoro on February 25, 2014, 06:38:01 PM
My goal is not a specific net worth goal. 

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

The end goal is to take advantage of this tax exemption by structuring the sale of shares over a number of years: http://business.financialpost.com/2013/10/16/plan-to-take-full-advantage-of-business-owners-capital-gains-exemption/
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: sleepyguy on February 26, 2014, 09:29:21 AM
By 2020 NW: 1.4-1.5mil
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: soccerluvof4 on February 26, 2014, 10:46:32 AM
SoccerLuvof4, you are really underestimating your NW by 900K, 2017 you will be >3.1M when the RE is included. Redhotlama- you have crossed the inflection point where returns get stupid! Awesome!

I would love for that to be right!!! Luv the name by the way! gave a kid on one of my sons soccer team the name "Flying Squirrel" because he is all over the place! But , I use the Blindsquirrel  statement all the time! haha
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 16, 2014, 09:09:44 PM
Okay, so it's been a year since this thread was started (or will be in a few weeks, at least, and I just finished my June NW update and thought of this thread).

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

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

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

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

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

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

Hopefully my (stupid) results which had almost nothing to do with me won't discourage some of you from posting; I'm hoping to hear some of you hit your goals or are on your way!  Sooo...? :D
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Suit on June 16, 2014, 09:38:12 PM
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 16, 2014, 09:39:40 PM
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

Absolutely!  If you weren't around at the time, or just never posted, feel free to chime in!  :D
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: imustachemystash on June 16, 2014, 10:27:37 PM
That's so inspiring Arebelspy!  I am thrilled your investments worked out so well for you.  I have a stack of the real estate books you recommended sitting on my night stand waiting to be cracked open after the end of the school year. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: expatartist on June 16, 2014, 11:20:21 PM
Very inspiring arebelspy! As real estate will be a big chunk of our retirement investments, it's really informative to see how you plan to make things work while traveling long-term, also that you're not letting paper value go to your head but are remaining focused on cashflow.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: sol on June 17, 2014, 12:38:08 AM
How's everyone doing on the progress to their goals?

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

One year ago my goal was to be FI in 2.5 years, so I still have 18 months left to get there.  Assuming no major economic meltdowns, we'll make it without any trouble.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: pom on June 17, 2014, 03:18:48 AM
I calculate based on income generation

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

If I go part time after the baby is born, I will reduce that goal to 20k temporarily.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 17, 2014, 10:11:31 AM
That's so inspiring Arebelspy!  I am thrilled your investments worked out so well for you.  I have a stack of the real estate books you recommended sitting on my night stand waiting to be cracked open after the end of the school year.

Awesome; real estate so much fun!  :)

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

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

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

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

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

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

Of course in 2012 and 2013 people were talking about how the market had been on a bull run since 2009, for 3-4 years, and it was overdue for a crash.  Some were pulling out cash in early 2012.  And we've seen what the market has done since then.  Stay the course, ups or downs, seems to be best.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: kkbmustang on June 17, 2014, 11:56:15 AM
Congrats Arebelspy! So exciting!!!

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

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

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

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

Based on back-of-the-napkin math and mint, right now we're at $545k. So, we should be about 5 months ahead of schedule.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: lhamo on June 17, 2014, 04:10:43 PM
We could probably consider ourselves FI now, based on the sale of our apartment at current values -- that would give us enough of a stash that we could do pretty much whatever we wanted.

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

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

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

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

Job situation still not settled, but most likely will only be getting a small promotion and a modest raise.  Feeling extremely burned out at the moment and not sure how much longer I'm willing to put up with everything.    Will take a fair amount of convincing to get DH to consider leaving paid employment, though. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Wile E. Coyote on June 17, 2014, 04:35:15 PM
The goals that I have in my current model are:

2014 $1.34M
2015 $1.56M
2016 $1.81M
2017 $2.09M
2018 $2.38M
2019 $2.71M
2020 $3.08M

Stretch goal is to move that $3.08M closer by a few years.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on June 17, 2014, 05:04:13 PM
I'll join!  I don't have a very long track record for savings, because my wife and I are still fairly young (20 & 24), so my goals may be way off but here it goes.


Current NW = 80k

January 2015: $100k
January 2016: $150k
January 2017: $210k
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Ottawa on June 17, 2014, 05:17:42 PM
Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M

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

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

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

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

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

Congrats lhamo! It can be tough to keep a partner on the same page. Is some of his resistance to leaving paid employment cultural? Extended family pressure? (I currently have the opposite challenge; my partner is underemployed here, he's earning a fraction of what he's worth and he is convinced there are no jobs in his field in China...this is tough going in our accumulation phase)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Suit on June 17, 2014, 07:45:18 PM
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

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

Great, excited to join!

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

Goals:
100k investments and savings by end of July (I'll need the stock market to cooperate a bit!)
Positive net worth by my 30th birthday next July
200k investments and savings by July 2017
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: nawhite on June 18, 2014, 10:22:36 AM
Net worth = $0 by January 2014. And its going to be amazing!

If I count appreciation on my house (according to zillow which is fairly accurate in my area), I hit $0 net worth in early December. If I don't count the appreciation, I will hit $0 net worth last Friday but will probably drop down below $0 again before the next paycheck. From that point on though its UP UP UP!

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

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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 18, 2014, 10:28:03 AM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: lhamo on June 18, 2014, 03:02:00 PM
Almost a year out from my original post.  Net worth is up 16.29%.  Looked back at ranges for the past five years and we have had annual net worth increases between 11% and almost 47%, so as long as the stock/property markets don't tank I think a 10% year on year increase is reasonable.

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

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. 

Congrats lhamo! It can be tough to keep a partner on the same page. Is some of his resistance to leaving paid employment cultural? Extended family pressure? (I currently have the opposite challenge; my partner is underemployed here, he's earning a fraction of what he's worth and he is convinced there are no jobs in his field in China...this is tough going in our accumulation phase)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: nawhite on June 18, 2014, 04:41:35 PM
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?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 18, 2014, 06:33:05 PM
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?

Yes, it's not novel, just neat. :)

It's closest to semi-ER.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: expatartist on June 18, 2014, 06:46:39 PM
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?

We call it 'downshifting' and it's what we're thinking to do once barebones FI: let things compound for a couple of decades as we age, maybe dipping in now and then for 6 months/a year of travel or research projects. This would keep us working in our industries or let us experiment with new ones, and give us more padding once we're older and could use a bit more for healthcare etc.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: expatartist on June 18, 2014, 06:52:11 PM
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. 

It sounds like you've been stretched to the limit for some time now! Were you traveling a lot too? Hopefully as the summer goes on you'll be able to enjoy some of it. This time of year we get amnesia about Beijing winters, it's what got me signing a 2-year contract....

Thanks for thinking of DH, I will PM you.

Edited to fix quotes.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: pka222 on June 18, 2014, 08:30:00 PM
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.   
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: beege on June 20, 2014, 07:20:40 AM
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):
(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).
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ivyhedge on June 20, 2014, 01:14:55 PM
Next milestones:
$1.03m (current)
$1.7m
$2.4m
$3.4m
$4.7m
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 20, 2014, 02:02:47 PM
Next milestones:
$1.03m (current)
$1.7m
$2.4m
$3.4m
$4.7m

No dates for those?   :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ivyhedge on June 20, 2014, 02:40:13 PM
Next milestones:
$1.03m (current)
$1.7m
$2.4m
$3.4m
$4.7m

No dates for those?   :)


< 8yrs
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ohyonghao on June 20, 2014, 02:52:36 PM
Our long term Net Worth goals are about as follows:
2014: $60,000
2015: $90,000
2016: $125,000
2017: $160,000
2018: $200,000
2019: $250,000
2020: $300,000

At $300,000 we could retire back to my wife's home country as yearly expenses would be around $12,000 for both of us, maybe less if living with family.  We'll probably evaluate our situation at that time and maybe keep working a couple more years, or possibly try to work/get a degree so I can teach English while back in Taiwan for some extra spending money if the market dips.

Wow, looking at these numbers they feel completely doable.  Thanks for this great thread!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: KBecks2 on June 21, 2014, 01:08:10 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 21, 2014, 02:47:56 PM
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.

Sounds like you have some fun planning to do!  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Carrie on June 21, 2014, 03:00:20 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: HappierAtHome on June 21, 2014, 06:04:47 PM
2017: $1M.
2027: $2.5M.

Well, the thread title does say "long term"...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Jon_Snow on June 22, 2014, 10:52:54 AM
It is easy to become fixated on net worth. I am guilty of this.

In our mid 30's we hit the 1M net worth mark - then at 41 we crossed 2M. Sometimes I find myself adding up all our assets (there is no debt anymore) and just staring at the numbers, wondering how the heck we did this. But an impressive NW number alone would not let us retire early.

The fact that our investments currently generate about 5k in monthly dividends is the IMPORTANT number. Net worth numbers do have a WOW factor though.... though our net worth growth is about to slow tremendously as I am soon to be jobless - yay!

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 22, 2014, 10:59:52 AM
I disagree, Mr. Snow.  You're just talking yield on capital.  But to each his own, and anyways it's not on topic for this thread.  Congrats on the upcoming retirement.  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Jon_Snow on June 22, 2014, 11:43:37 AM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ichangedmyname on June 22, 2014, 11:49:33 AM
12/31/13: $12,341
As of 06/22/14: $27,383

That's an increase of 220% :D
Goal for June 2015 is $50k

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 22, 2014, 11:49:52 AM
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.

I enjoy commenting more on others than posting about myself, but occasionally I get the bug to post something, usually when asked a specific question by someone.  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Thedudeabides on June 22, 2014, 12:54:30 PM
This has been a really inspiring thread to read through. Well done to all!

I'll go ahead and throw in my goals even though I'm a bit late to the thread.

6/2014: $770k
12/2015: $1MM

If we have a major market correction I'll have to revise.

I also need to work on clearer goals for RE. I could easily see myself becoming victim of OMY syndrome.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: gecko10x on June 22, 2014, 05:43:44 PM

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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: TexasBrit on June 27, 2014, 12:10:02 PM
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.

Hi pka222.. I have pretty much the exact same net worth as you do! I have never planned it out like this although I feel your savings rate is a lot higher than mine. Good luck to you, I will be following this thread with interest, would love to hit FI in 5 years :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Rebecca Stapler on July 04, 2014, 02:39:32 PM
I would love to have a zero net worth by January 1, 2015. But that is a wee bit too ambitious, so I'll aim for:

1/1/15: -$50,000
1/1/16: $0
1/1/17: $100,000
Mid-2014 Check-in: We are currently at -$78,000.

Our goal for the year is to wipe out $24k in SLs, so that will get us pretty close to our -$50k goal. Now to make it happen ...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: keith on July 05, 2014, 12:57:37 AM
Joining in on this thread a year late!

But the topic is especially relevant since I finally just hit 100k networth this week!! When I first joined the forums I had a negative networth, so I think this progress is worth celebrating.

I'm going to try and remember to check in each July on these goals.

Networth is currently climbing about 60k a year. Will try and at least hit these goals, with slight increases each year.

Today: 100k
July 2015: 165k (+65k)
July 2016: 235k (+70k)
July 2017: 310k (+75k)
July 2018: 390k (+80k)
July 2019: 475k (+85k)

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 05, 2014, 01:26:25 AM
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). :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: keith on July 05, 2014, 11:45:54 PM
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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 06, 2014, 12:16:00 AM
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. ;)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Workinghard on July 06, 2014, 03:04:50 AM
Yep, my year end goal of 900k changed to 950k. And yes (too me) a year seems LONG (term)when you're working OT, watching, and waiting for the increase!

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. ;)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on July 06, 2014, 08:10:22 AM
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: iris lily on July 06, 2014, 12:21:03 PM
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.  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Workinghard on July 06, 2014, 04:19:28 PM
Congrats! I doubt if we'll ever hit 2m as I don't want to work that long. I'm not retired but I'm getting tired. Lol

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.  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: frogger on July 06, 2014, 07:38:06 PM
I almost feel like my numbers don't belong here, but I was just figuring this out last night, so I might as well play.

Current NW: -$8000

Jan 2015: $0
July 2015: $15,000
July 2016: $35,000
July 2017: $55,000
July 2018: $85,000

Kind of a middle of the road estimate. Could be cake if things work out one way, or a real stretch if they work out another. We'll see where I am in January.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: RyanHesson on July 07, 2014, 12:41:32 AM
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. But, why not throw some number on here. I'm going to measure in Octobers because my birthday is in October.

July 1st, 2014: 50K
October 1st+between 0 and 30 days, 2014: 61K (24th birthday)
October 1st+, 2015: 113K (25th birthday)
October 1st+, 2016: 174K (26th birthday)
October 1st+, 2017: 243K (27th birthday)
October 1st+, 2018: 320K (28th birthday)
October 1st+, 2019: 410K (29th birthday)
October 1st+, 2020: 510K (30th birthday)

Some bad stuff happens along the way and I lose a good portion of that. But I retire October 1st, 2028, just before my 38th birthday. Or maybe some amazing stuff happens and I retire in a year. Who knows?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 07, 2014, 09:42:46 AM
It's hard for me to set goals here, because really, my goals are "As much as possible."

Well sure, but setting hard numbers and then seeing if you meet, exceed, or fall short of them can let you see if your goals and projections are realistic, which can be useful for future planning.  "As much as possible" isn't as useful, though I agree that it's the best goal.  :)

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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cheddar Stacker on July 07, 2014, 11:01:08 AM
Current projections show about $800K on 40th b-day, so stretch goal is $1M by then. Need to get a bit more aggressive I guess.

My #1 long-term net worth goal is > $0 on date of death. It doesn't get more long-term than that for me. : )
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: RyanHesson on July 07, 2014, 12:45:24 PM
Quote
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.

A gamble which gives you a 99% chance of a $1 gain and a 1% chance of a $200 loss is still a bad gamble, even though the chance of winning is high. And a gamble that gives me a 50% shot at $1M and a 50% shot of losing my current 50K and going 450K into debt isn't a good gamble either, even though the expected value is positive. Conversely, I'd take a gamble that gave me a 50% shot at gaining $1000 and 50% shot at losing $500, that's a wager I want to make. Though maybe I just don't know what "risk-adjusted amounts" means.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: TJ79 on July 07, 2014, 04:52:48 PM
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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 07, 2014, 04:57:56 PM
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: TJ79 on July 07, 2014, 08:59:20 PM
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

Not nearly as badass as it seems. It was mostly due to a better than average annual bonus and a small inheritance. Now it's back to grinding it out the hard way.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 07, 2014, 10:36:54 PM
The discipline to apply it to your debt is pretty awesome. :D
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: monarda on July 08, 2014, 12:16:24 AM
Only just saw this thread...

I've included all accounts ($120K), plus equity in real estate investments ($410K), and primary residence ($90K)

Some goals considering only conservative growth, rental income, principal payments to mortgages, small amount of additional savings.  I will likely save more to add to these numbers, but my job outlook is hazy for 2015, so not counting on being able to save much (but maybe I won't worry about it)

2014  $620K
2016  $750K
2018  $900K

1M by 2020 (age 60), preferably sooner.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ReadyAimFired on July 08, 2014, 05:40:29 PM
This is my very first post on this site (long time lurker) though I am a member of several other forums and some may recognize my name. I just wanted to put my $.02 in, though many of you would say to put those in an online savings acct they may be worth 10 bucks some day!!

Current net worth $575k
Our goal by end of year---$600k
End of 2015----$700k
By end of 2018---1,000,000 a number I never believed I would reach much less by the age of 44 and never making more than 68k. My DW also makes the same amount.  We save almost one entire salary per year and that total net worth includes NO homes. 1 pension plan, 1 Roth 457 plan, 1 401k, 2 roth iras, 1 taxable mutual fund, and cash holdings in online accts earning almost 1%.

Best of all.......ZERO ZERO ZERO debt!!!!!!!!!!!!!!! party dance, party dance...now to kick that dr pepper habit....ugh..

Thanks for what you guys/gals do on this website.  It is an inspiration.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 08, 2014, 05:48:20 PM
Well done, RAF!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Suit on July 16, 2014, 08:13:38 PM
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

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

Great, excited to join!

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

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

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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ohyonghao on July 17, 2014, 12:07:47 PM
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

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

Great, excited to join!

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

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

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

Congratulations!  I joined another thread for the race from 10k-100k (http://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-10-too-100k!!/).  You could pop in there too, but sounds like you'd be out of there in no time.  Keep up the great work!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: smalllife on July 17, 2014, 01:34:15 PM
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.

On point for #1 and *may* be done early (that's on the back burner as the SO goes through grad school).
I think I might actually be ahead of target on #2, but keeping options open!

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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cheddar Stacker on July 17, 2014, 01:38:19 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ohyonghao on July 18, 2014, 02:08:29 PM
Congrats! Feels good to hit nice round numbers. Keep stackin.

Looks like you're about to hit a nice round number of posts!  I see you have 999 as of this writing.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: jaizan on July 20, 2014, 03:38:42 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: RyanHesson on July 20, 2014, 05:05:23 PM
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.

The pound is $1.7088 or so at this moment. So your 1 million GBP will be about $1,708,800. Though who knows in 2017, but probably higher than $1.54 million.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mazzinator on August 06, 2014, 01:46:56 PM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

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

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

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

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

1 year update...

Savings $80,613
Student loans -$67,363

Net worth $13,250

Didn't reach this goal either...but ainokea (i don't care) It feels great to be in the positive!!! Only ~$7k off this time ;-)

Thinking end of year will be more like ~$45k...but we shall see...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 19, 2014, 07:21:19 AM
I want to retire in 5 years at the age of 50.  I just pulled out my calculator and added it all up.  Current net worth is $632,000 (assuming restricted stock will vest as scheduled over next 3 years).  This includes equity in my current home (which I will sell at retirement) and my retirement apartment.

One year update, using the same methodology.
It has been a great year both in terms of my compensation and market gains. 

August 2013: ~$632,000
August 2014: ~$897,000

for an increase of $265,000, of which ~$161,500 were savings (including mortgage principal paydown and 401k match) and the rest being market gains.

ETA: I have assumed that the value of my current home and my retirement apartment have not changed from last year.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cheddar Stacker on August 19, 2014, 09:01:18 AM
Wow ZiziPB! I think you will meet that 5 year goal. Very impressive.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on August 19, 2014, 11:44:20 AM
I want to retire in 5 years at the age of 50.  I just pulled out my calculator and added it all up.  Current net worth is $632,000 (assuming restricted stock will vest as scheduled over next 3 years).  This includes equity in my current home (which I will sell at retirement) and my retirement apartment.

One year update, using the same methodology.
It has been a great year both in terms of my compensation and market gains. 

August 2013: ~$632,000
August 2014: ~$897,000

for an increase of $265,000, of which ~$161,500 were savings (including mortgage principal paydown and 401k match) and the rest being market gains.

ETA: I have assumed that the value of my current home and my retirement apartment have not changed from last year.

Awesome!  Well done!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 19, 2014, 06:20:20 PM
Thanks, Cheddar Stacker and arebelspy.  I am obviously blessed with a great salary, but my bonus this year was also much better than I expected.  ER is on the horizon....
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: The_Dude on August 20, 2014, 10:27:42 AM
I love longer term threads like this where you can see what you or others thought a year or years before.  Big congratz to all that have kept up and are making progress towards their goals. 

My own goal posted 13 months ago:
Currently just over $700k. Goal is $1M in 3 years.
[snip]

I cut my long list of qualifiers but the big one was no factoring in an expectation of market returns.  Well thanks to the roaring market and continued aggressive savings I hit my goal in about 1 year rather than 3...  I was pretty stoked when I hit it last month but now its business as usual.  This is not enough for me to FIRE and live in the high cost of living area I want to live near my family. 

My new stretch goal is to hit $1.5M in 2.5 years.  This is a way bigger stretch and requires continued solid returns in my portfolio of which I am pretty skeptical. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 20, 2014, 12:49:20 PM
@The_Dude, congratulations!  That is fantastic!  I hope to join you in the second comma club in the next 6 -12 months.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Dicey on August 20, 2014, 01:42:37 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Workinghard on August 20, 2014, 03:16:21 PM
@The_Dude, congratulations!  That is fantastic!  I hope to join you in the second comma club in the next 6 -12 months.

I'm aiming for 3-6 months, but alas, it will be NW not liquid. One goal is in reach and another looms on the horizon.  :p
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Freedom2016 on August 21, 2014, 04:35:49 PM
Fun exercise! Windfall earnings this year have made a huge difference (June 2013 NW was $240,000 and June 2014 NW was $671,000). We expect to see significant gains through the end of 2014, but then we'll be back to more "normal" earnings. I think we can get to $2M in 9 years.

Current NW: $754,000
Dec 2014 NW: $950,000
Dec 2017 NW: $1,250,000
Dec 2020 NW: $1,600,000
Dec 2023 NW: $2,000,000

Note that my NW calculations include house value and mortgage.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Nords on August 23, 2014, 10:18:48 PM
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.
Thanks!

Humans are bad at estimating compound growth, especially when it's fueled by additional periodic contributions.  So yeah, it's a pleasant surprise...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Less on August 23, 2014, 11:07:56 PM
I just passed the 80k mark! First goal hit. Short term goal is to get to 100k by the end of the year.

I don't know about my goals for the next year as some adventures are on the horizon, however I think i would like to be at 200k by the end of 2016.

I currently save a bit over 50% of my pay/$2500 per month so getting the first bit is just about sticking to the plan. The stretch bit of my plan will be to get what I have working a little bit harder for me, and any time off I want to take.

Better go chuck this in my journal so i keep track of it.

Good Thread.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NICE! on August 26, 2014, 10:34:44 PM
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?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cheddar Stacker on August 27, 2014, 08:27:06 AM
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?

That's a question you should be asking yourself, not us, unless you want to provide a lot more information. For all I know you have 6 kids and make $47K/yr. If that's the case putting $25k/yr into investments is very impressive.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NICE! on August 27, 2014, 11:48:54 AM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cheddar Stacker on August 27, 2014, 12:10:03 PM
Then I would make more aggressive goals before having kids, but that's just me and based on my own experience with 2 young ones right now.

Also, checkout T-Rex's journal. She is currently deployed overseas and made some very aggressive savings goals while she was away. It might be harder for you if you share your finances (she doesn't) but it could be a good motivational read for you.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on August 27, 2014, 12:16:39 PM
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.

Well you have the potential to put away a heck of a lot more than 25k per year...  But without more details to your budget its hard to tell you where you could cut or how much you could be saving.  If you're in a reasonable COL area you should be able to put 50% of your yearly income into investments in my opinion.  But again, all of this is highly dependent on many factors of your budget that I don't know.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Vilgan on August 28, 2014, 04:12:28 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: gwines on September 07, 2014, 09:46:11 PM
Currently @~83K

100K by 2/15/2015
200K by 10/15/2016
250K by 8/1/2018
375K by 8/1/2019 --> personal retirement (assuming no family)
550K by 1/1/2020 --> cushy personal retirement
750K by 1/1/2021 --> Family retirement (if I have one)

I hope the community keeps me honest on this one and sticking to the goals.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Primm on September 07, 2014, 09:49:39 PM
I just passed the $149,000 mark! I know I'm over the line when I add in my superannuation growth numbers for September already, but my personal policy is to update investment-type accounts on the last day of the month.

It's driving me nuts... ;)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Less on September 08, 2014, 02:55:00 AM
Hey gwines, I am at a very similar position. Aiming for 100k in January next year. Seems to be a cool point as it is starting to get a bit of momentum of its own. 

Any how I will be watching with interest!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: nawhite on December 29, 2014, 10:58:58 AM
I guess I need to go more long term now.

Current NW: $30k
Current Student Debt: $90k (assets are about $120k)

Jan 2015: $75k NW, $75k debt
Jan 2016: $130k NW, $50k debt
Jan 2017: $200k NW, $20k debt
March 2017: $250k NW, $0k debt

It's that time of year again!

I happened to log in to Mint again and found that I hit 100k NW this week which puts me about 25k ahead of my goal for January. I'm using numbers in Mint as my milestones even though I now think Mint overvalues my house by about 5-7% and doesn't include my HSA's (stupid employer plan). I think the final goal in March is a little bit of a stretch even without a possible market downturn between now and then so I'm going to just up the other goals to match up to it better:

Jan 2015 Actual: $105k NW, $68k non-mortgage debt
Jan 2016 Goal: $150k NW, $40k debt
Jan 2017 Goal: $220k NW, $15k debt
March 2017 Goal: $250k NW, $0k debt

Granted this might all change because this year I got a job I can work remotely from anywhere and my wife and I are dreaming about fulltime RVing while working so the numbers might change a lot between now and then.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: BBub on December 29, 2014, 01:33:23 PM
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)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pooperman on December 29, 2014, 04:20:29 PM
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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: kpd905 on December 29, 2014, 07:47:11 PM
A medium term goal I thought of recently was to try to get a $250,000 net worth when I am 30 (so before 31st bday).

Right now we are at $70k at about age 27.25. 

Calculators tell me that $3500/month with a 5% real return will get me there.  We'll see what happens.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Wile E. Coyote on December 29, 2014, 08:24:03 PM
The goals that I have in my current model are:

2014 $1.34M
2015 $1.56M
2016 $1.81M
2017 $2.09M
2018 $2.38M
2019 $2.71M
2020 $3.08M

Stretch goal is to move that $3.08M closer by a few years.

Has it been 6 months already?  Pretty much on track.

Updated goal numbers:

2014 $1.36M (actual)
2015 $1.59M
2016 $1.84M
2017 $2.12M
2018 $2.44M
2019 $2.79M
2020 $3.17M
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NICE! on December 30, 2014, 03:17:45 AM
Based upon inputs here, the potential of a possibly high-paying overseas gig, and the fact that we beat my 2014 goal from just a few months ago despite lower market returns (also due to some unexpected income), I'm making our goals more aggressive. These are definitely stretch goals - how do you guys feel about setting ones that seem like a low % success rate? I think I like the motivation, although I could be relying on market returns too much.

Thanks for the facepunch, Cheddar and others.

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.)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: marty998 on December 30, 2014, 03:41:25 AM
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  )
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cheddar Stacker on December 30, 2014, 08:26:24 AM
(Kick me off the forum for the wahh wahh complainypants in this post :P  )

No need to kick you off the forum. Just sell that damn house and you'll be fine. Buy a van and go tour the Island.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Zaga on December 30, 2014, 08:32:50 AM
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.

Ultimately we want a passive income of $40K, which is plenty for us to live very comfortably in our paid for house.
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Dicey on December 30, 2014, 09:45:35 AM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cookie78 on December 30, 2014, 09:52:24 AM
Dec 31, 2018 - $750,000
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NICE! on December 30, 2014, 12:22:05 PM
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.

Well said, Diane. We will treat this time as a savings challenge.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: BriArrange on December 30, 2014, 02:50:09 PM
I'm very new here, but am learning so much and loving it!

Currently, our net worth (including my husband) is 88,000.

Annual income : ~70K (varies every year becausee hubby is a farmer)

Our goals are:
2015:150,000
2016: 210,000
2017:250,000

Because we are just starting our plan for RE, we are hoping these goals are achievable. Our long term goals are to be FI by the time we are 35.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NICE! on December 30, 2014, 03:04:54 PM
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?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ohyonghao on December 31, 2014, 09:46:44 PM
Quote from: OhYongHao
2014: $60,000 (+24,000)
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
2014: $77,000 (+37,000)
2015: $117,000 (+40,000)
2016: $157,000 (+40,000)
2017: $200,000 (+43,000)
2018: $245,000 (+45,000)
2019: $295,000 (+50,000) Milestone 1
2020: $350,000 (+55,000)

We did much better this year than I had expected, so I've changed the goals slightly.  With the adjustment our first milestone should be hit in 2019 instead of 2020, putting it merely 5 years away.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on December 31, 2014, 10:09:06 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on January 01, 2015, 11:09:30 AM
So much badassity in this thread.  I love it.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on January 02, 2015, 10:57:07 AM
So much badassity in this thread.  I love it.
Agreed! Happy new year!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Abe on January 02, 2015, 11:36:42 AM
Current net worth (not including real estate) is $180,000. For the next 4 years we expect to save about $50,000 per year, then about $200k per year:

2016 Jan: $240k
2017: $300k
2018: $360k
2019: $430k
2020: $650k
and so on, plan to retire in 2040
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: gaja on January 02, 2015, 12:58:31 PM
Current NW: -$400,000
1/1 2016:       -$80,000
1/1 2017:       -$50,000
1/1 2018:        $10,000
1/1 2019:        $100,000

The big chunk in 2015 is mainly due to downsizing in house, and upgrading in paycheck. Our goal is to get rid of all debt within 3 years, and after that build wealth.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: webguy on January 02, 2015, 01:10:26 PM
I want to join in and set myself some public goals so that I'm held accountable.  My goals are:

Current NW:  $420k
Jan 1 2016:  $650k
Jan 1 2017:  $950k
Jan 1 2018:  $1.1M
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Vilgan on January 02, 2015, 06:03:34 PM
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: 80k net worth, so hit that goal. Not going to adjust future goals upward though, increasing it by 70k in the next year still feels very aggressive.
Next stop: Jan 1, 2016. Will hopefully be at 150k then, and am really looking forward to breaking the 100k barrier in the coming months since it wasn't that long ago that my NW was negative.

Refinanced the mortgage to 3.0% so not sure if I care about going mortgage free anymore. Will probably just make the minimum payment for the foreseeable future which would move the mortgage free goal back from 2021 to 2030.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on January 04, 2015, 11:49:10 AM
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.

I'm not sure where I came up with those previous goals.  Here is my current prediction:

Current NW:  $480,507
January 2016: $570,000
January 2017: $670,000
January 2018: $779,000
July 2018:  $840,000 (and hopefully retirement, as I will hopefully have over $523K free and clear)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mazzinator on January 05, 2015, 12:36:28 AM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

1/1/2015: $55k
1/1/2016: $105k
1/1/2017: $160k
1/1/2018: $220k
1/1/2019: $280k
1/1/2020: $350k (husband will retire from active duty military in 2020 or 2021)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: steveo on January 05, 2015, 02:55:55 AM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: BriArrange on January 12, 2015, 11:40:59 AM
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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NICE! on January 12, 2015, 12:10:20 PM
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!

Even a blind squirrel finds a nut every once in awhile.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cookie78 on January 12, 2015, 09:39:52 PM
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: PerpetualWanderlust on January 13, 2015, 12:43:36 PM
Now:         $72,000
Jan. 2016:  $130,000
Jan. 2017:  $200,000
Jan. 2018:  $270,000
Jan. 2019:  $340,000
Jan. 2020:  $410,000
Jan. 2021:  $480,000

That's a fairly conservative estimate based on what I think my investments will do. Then I will most likely try to move towards part-time work.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: andy85 on January 13, 2015, 01:40:05 PM
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: 2Birds1Stone on January 13, 2015, 07:21:18 PM
Late to the party but here are my annual goals to FIRE

Start of
2015 - 105k
2016 - 135k
2017 - 170k
2018 - 210k
2019 - 255k
2020 - 305k
2021 - 360k
2022 - 420k
2023 - 485k
2024 - 555k
2025 - 630k
2026 - 710k
2027 - 795k
2028 - 885k
2029 - 1 Million (FIRE!! @ 42 years old)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: 2Birds1Stone on January 13, 2015, 07:24:52 PM
What is great too, as of current expenses I would be FI by age 38 =)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Davids on January 15, 2015, 08:01:08 PM
Just to keep numbers exact and be conservative.

Jan 2015: $608K
Jan 2016: $700K
Jan 2017: $800K
Jan 2018: $900K
Jan 2019: $1M (Debt free due to paid off Mortgage at this point)
Jan 2020: $1.1M
Jan 2021: $1.2M
Jan 2022: $1.3M (may FIRE at that point - Age 40)

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dragoncar on January 15, 2015, 08:19:40 PM
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.

1.5 years later I'm at $780k.  Had a nice increase from investment property, not sure it's repeatable in this market.  PP recovered in 2014, although long term performance isn't great.  Going part time and planning to coast up to $1 million for "safety".  Best case, I'll love working part time and never need to retire.

Stretch goal- dec 2015 $1 million (I would only need a 15% return plus savings!)

Realistic goal
2016 - 900k
2017 - 1m
2018 - 1.1 m
2019 - 1.3 m
2020 - 1.5 m, retire at 40 woohoo!!!!

I'm not counting my wife who is at $0.  Otherwise divide my numbers in two and double the gainz.  Thinking $2m for the both of us is ridiculously generous and yet achievable.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: sol on January 16, 2015, 11:35:13 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: steveo on January 17, 2015, 01:41:41 AM
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.

I still think its a challenge to save 50% of your income if you are the average consumer.

In stating that I think you do need to minimize it a little otherwise you will just keep on working.

Seriously, which of those people do you think is more badass?

I don't care what is badass because I care about getting to FIRE for me personally. I don't want to RE on too small a stash and have my kids support me when I'm older.

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.

I can also see some issues with this gauntlet because RE is in my opinion more about minimizing expenses rather than having the biggest stash. In stating that I assume that there are gauntlets out there about minmizing expenses.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NICE! on January 17, 2015, 03:45:55 AM
I disagree, sol. I save around 50% and give 10% and consider it a challenge...I'm nowhere near as badass on the spending side.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dragoncar on January 17, 2015, 10:47:16 AM
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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: MoneyRx on February 14, 2015, 11:44:53 AM
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)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Suit on February 18, 2015, 06:57:04 PM
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

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

Great, excited to join!

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

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

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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on February 18, 2015, 11:28:39 PM
This is awesome! I'm a bit late to the party but can I join? Or should I set up a new thread?

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

Great, excited to join!

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

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

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!

Congrats! You already have a pretty nice investment stache as well!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on February 19, 2015, 07:34:05 AM
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!

Nice!  Positive net worth is the first step. I like how you first posted the goal to be done July 2015, then updated to March 2015, and actually completed in February 2015. That's pretty badass.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: beege on May 31, 2015, 12:40:32 PM

(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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on May 31, 2015, 01:01:39 PM

(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.

Nice work!  It's amazing how frequent setting goals and achieving them occurs on these forums.  Wish there was more of that out in the world.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Insanity on May 31, 2015, 05:16:46 PM
Good job!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on June 01, 2015, 10:58:07 AM
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

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


Current NW is at 152k as of the end of May.

I think I may need to revise my goals a little bit. :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 01, 2015, 12:03:12 PM
Wow, being over 6 months ahead and having to set more aggressive goals?  Bad ass!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Ottawa on June 01, 2015, 02:18:14 PM
Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M

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

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

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

Inspired by StudentStasher's badass progress, checked our progress.  Made the 2015 goal. Current NW 560K. Hoping to slightly overshoot 2015 goal...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cheddar Stacker on June 01, 2015, 02:37:22 PM
Congrats to all those meeting/exceeding goals. Impressive.

My #1 long-term net worth goal is > $0 on date of death.

I'm still on pace and progressing nicely.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: CupcakeGuru on June 05, 2015, 11:53:13 AM

I love the idea of having somewhere to look back in a couple of years.

Here's mine and Mr. Cupcakes NW goal at year end. It does not include the house.
2015: 523k
2016: 600k
2017: 683k
2018: 773k
2019: 870k
2020: 974k
2021: 1,086k
2022: 1,205k
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on June 05, 2015, 01:10:12 PM
So I revised my long term goals and calculated out all the way to FIRE.


Date       Added Per Year       Total After Market Returns (Inflation Adjusted)

Start          $40,000      
Jan-15       $60,000                $106,700          [Done!]
Jan-16       $60,000                $177,869          [Currently at 153k]
Jan-17       $65,000                $259,141
Jan-18       $65,000                $345,859
Jan-19       $70,000                $443,721
Jan-20       $70,000                $548,140
Jan-21       $80,000                $670,226
Jan-22       $80,000                $800,491
Jan-23       $90,000                $950,154
Jan-24       $90,000                $1,109,844
Jan-25       $100,000              $1,290,904


Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: gecko10x on June 16, 2015, 07:53:31 AM

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.

And, it's been another year- wow!

My 2015 goal was $185k, which has been achieved.

My current targets are:
2016: $225k
2017: $275k
2018: $340k
2019: $400k
2020: $475k
2021: $550k
2025: $1m
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: monarda on June 16, 2015, 10:35:58 AM
Only just saw this thread...

I've included all accounts ($120K), plus equity in real estate investments ($410K), and primary residence ($90K)

Some goals considering only conservative growth, rental income, principal payments to mortgages, small amount of additional savings.  I will likely save more to add to these numbers, but my job outlook is hazy for 2015, so not counting on being able to save much (but maybe I won't worry about it)

2014  $620K
2016  $750K
2018  $900K

1M by 2020 (age 60), preferably sooner.

Adjusting these values based on Zillow numbers (instead of my own guesstimates) and reducing expectations further due to lack of current employment (other than rental income)

current cash (140K)  rental equity ($410K)  primary residence equity ($103K)

2015 $653K
2016 $700K
2018 $800K

still could go for $1M by 2020, but it's more of a stretch now
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Gretamom on June 16, 2015, 10:05:15 PM
With all the recent celebrations of hitting net worth milestones (1 (http://www.mrmoneymustache.com/forum/share-your-badassity/just-hit-$500k-nw/) 2 (http://www.mrmoneymustache.com/forum/share-your-badassity/net-worth/) 3 (http://www.mrmoneymustache.com/forum/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).

Arebelspy - Our goals seem to be pretty similar -
My NW goals for the next three years
Current NW - 500,000
June 2016 - 630,000
June 2017 - 800,000
June 2018 - 1,000,000
I think it's a bit of a stretch, but totally doable! My husband and I make a good income, but save about 60% (It would be more, but my weakness is traveling) We will make the rest from rental income, side hustles, travel hacking and who knows what else, but we will make it! I'm throwing down this gauntlet to see if I can really do it. My original calculations are to hit the 1,000,000 mark September 2019!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: mr_orange on June 23, 2015, 06:51:15 PM
Fun thread.  Thanks for starting it. 

Current net worth - About $1.08M
2015 End Target - $1.5M
2016 End Target - $2.0M
2017 End Target - $2.5M (FIRE)

Each year I plan to make about the same with the risk in our businesses going down each year through reduced contingent liability leverage, increased liquidity, and reduced overall long-term debt.  We also hope to minimize taxes as much as possible while trying to limit debt. 

Thereafter I plan to work on my businesses full time and have the flexibility to work as much or as little as I want to.  I really like working so I can't see sitting on the beach. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mississippi Mudstache on June 24, 2015, 08:08:55 AM
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 :)

Of course, as my net worth grows, it will be driven more heavily by investment returns, so a downturn in the stock market could easily set me back a couple years. I'd still be on pace to retire by 40, though.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FuturePrimitive on June 24, 2015, 10:37:36 AM
I'm in but my calculations are looking a little stretchy to me, not able to save as much as I'd like.

My planned FIRE date is 11.1.2029. That is also (not coincidentally) the date of my final mortgage payment. I even have a little widget on my phone counting down the days, only 5,244 to go!

Just kind of throwing out some rough dates and round numbers here, there's a lot of variables. 
06.24.15: 600,000
01.01.20: 1,000,000
01.01.27: 2,000,000
11.01.29: 2,500,000

Now, do I really need that much? Probably not, even a conservative 3.5% SWR generates more than my current gross income, I won't have a mortgage payment and I will no longer be putting money into 401k/Roth. Both my kids will be done with college as well (unless they do the "11 year program" like I did) so I should have significantly lower expenses. I just like that number for some reason, subject to change. ;-)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on July 30, 2015, 06:09:38 PM
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.

My Net Worth is currently $530,000, so I am just shy of being one year ahead of my above goals.

Here is what my revised goals are:

July 2015:  $530,000
July 2016:  $625,000
July 2017:  $725,000
July 2018:  $845,000

The July 2018 goal is very iffy, as I might retire in July of 2017 and lose my biggest source of income.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: lhamo on July 31, 2015, 11:19:05 AM
We could probably consider ourselves FI now, based on the sale of our apartment at current values -- that would give us enough of a stash that we could do pretty much whatever we wanted.

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

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

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

Wow -- had to go all the way back to page one to find what my original targets were.  Promotion didn't work out -- got the extra work for several months, but not the anticipated raise.  Ended up quitting and moving back to the US with DS, but DH and DD are remaining in Beijing for at least the next year (and we won't sell the apartment for at least that long.

Annual networth increases:

July 13, 2013 - July 13, 2014:  14%
July 13, 2014 - July 13, 2015:  4%

That second year of only 4% growth puts us behind my original target, which was probably overly optimistic (I thought I would be getting a 20-30k raise, minimum, which would have made a big difference in our ability to invest). 

Not sure at this point if my consulting gig is going to work out (and kind of feeling more and more every day like I would rather it didn't).  Networth growth will slow down a bit if we don't have my income to contribute toward living expenses.  Given the significant stash we have at this point, I think I'll be just fine with a 3-5% growth rate on average.  Anything more than that would be gravy.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ohyonghao on July 31, 2015, 02:53:07 PM
It's been a year, and we've had to reevaluate our goals again, somehow we just keep overshooting them.

July 7th, 2014
2014: $60,000 (+24,000)
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

January 1st, 2015
2014: $77,459 (+37,000)
2015: $117,000 (+40,000)
2016: $157,000 (+40,000)
2017: $200,000 (+43,000)
2018: $245,000 (+45,000)
2019: $295,000 (+50,000) Milestone 1
2020: $350,000 (+55,000)

July 31st, 2015
2015: $140,000 (+70,000)
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)

Current standing is about $113,700

From our original prediction of hitting Milestone 1 in 2020, we are now looking at 2018, two years early.  I suspect in January we may be resetting our goals again.  We started a more aggressive savings strategy now to make more use of our tax advantaged buckets.

The reason our growth is expected to sort of slow down a bit is because our house was bought in a deflated market and is almost back up to market value.  Once that gravy train runs out then we should see more realistic appreciation around 3% rather than the unrealistic rate of 10% we've seen these past two years.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: cheddarpie on August 14, 2015, 11:54:17 AM
How do you guys account for real estate value in calculating your net worth? I've been counting only the purchase price of my house, but I'm in a rapidly-increasing market (bubble?) and so the Zillow Zestimate of my house is already 100k+ more than I paid for it in 2012. I'm not planning to sell my house in the next 5 years, so not sure how this helps me or whether it's "fair" to count it, since having that asset doesn't help my immediate FIRE goals if I ended up staying in the house. (Though rental value may become an important part of the FIRE plan!)

Here are my rough goals (based on purchase price value of house):

December 2015: 850k
December 2016: 950k and mortgage paid off
December 2017: 1.025m
December 2018: 1.125m
December 2019: 1.275m
December 2020: 1.5m

The bulk of my NW value is in home equity and retirement (401k/Roth) accounts, so I don't have a huge stash that's immediately accessible (and that's by design). After I pay off my mortgage, I will shift my focus to the short-term stash and figure out more specific goals about when I want to reach FIRE, how much I need, and how to get there. My #1 priority has always been funding long-term retirement accounts, then paying off debt (including mortgage -- I know some of you disagree with this approach, but it's all about peace of mind and stability for me, not necessarily maximizing returns).

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Zaga on August 14, 2015, 02:57:58 PM
I don't count the value of my house at all in my net worth. 

If it was a rental house I would, but right now and for the foreseeable future it is a consumption item.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: sol on August 14, 2015, 03:54:16 PM
I don't count my primary residence because it doesn't generate spendable income, which is my reason for calculating my net worth.

For rentals, I count current equity minus 10% transaction costs, because I intend to sell them.  If I was going to hold indefinitely, I wouldn't count them at all and instead deduct the income they generate from my expenses.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: meadow lark on August 16, 2015, 05:38:59 AM
I count it, but then I plan on it becoming a rental when we FIRE.  Or selling, but most likely renting it out.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: fb132 on August 16, 2015, 08:52:58 AM
Not sure if these numbers are accurate or not, but here are my goals:
2015    74 900,00  $  *Still 2K$ away from acheiving it
2016    92 779,00  $
2017         111 951,00  $
2018    132 509,00  $
2019    154 553,00  $
2020    178 191,00  $
2021    203 537,00  $
2022    230 716,00  $
2023    259 859,00  $
2024    291 109,00  $
2025    324 618,00  $
2026    360 550,00  $
2027    399 079,00  $     *FI
2028    440 393,00  $
2029    484 694,00  $
2030    532 197,00  $    *I'll be 48, maybe I will be tired of my job and FIRE that year
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: zephyr911 on August 16, 2015, 09:08:39 PM
Baseline (now): 250k

June 2018 (40): 500K
June 2020 (42): 700K

(somewhere between those two points, full-time work ceases and we do fun shit for 20-30K a piece and live on it)

<Stash compounds>

June 2028 (50): 1M+

Death (my family generally lives to 90+): leave behind at least 10M to a worthy cause
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cougar on August 18, 2015, 10:01:18 AM
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!

you must be.

even at a 7% return, you dont hit that without adding in a a good amount of money on a regular basis.

i'm much easier.

2017 - 1 mil.
2027 - 2 mil.
2032 - 2.5 mil.

i have no need to keep busting it once i get past a mil, savings wise; i just dont need multimillions and wont use it.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 19, 2015, 11:46:34 AM
I want to retire in 5 years at the age of 50.  I just pulled out my calculator and added it all up.  Current net worth is $632,000 (assuming restricted stock will vest as scheduled over next 3 years).  This includes equity in my current home (which I will sell at retirement) and my retirement apartment.

One year update, using the same methodology.
It has been a great year both in terms of my compensation and market gains. 

August 2013: ~$632,000
August 2014: ~$897,000

for an increase of $265,000, of which ~$161,500 were savings (including mortgage principal paydown and 401k match) and the rest being market gains.

ETA: I have assumed that the value of my current home and my retirement apartment have not changed from last year.

Year 2 update, using the same methodology:

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

for an increase of $199,000.  Not as impressive as last year primarily due to changing my asset allocation to 60/40 and the market basically going sideways over the last year or so.  I have also reduced the value of my condo in the calculation because the prices have gone down since last year (the condo will be sold at retirement).

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: BBub on August 19, 2015, 12:51:21 PM
Wow, $600k to $1M+ in two years is awesome!  Congrats on that progress.  I'm looking forward to the day my stash is big enough to compound like that.

Just curious, over the last 2 years how much of the $464k growth was contributions vs market returns?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 19, 2015, 01:40:40 PM
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 :-)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 22, 2015, 01:45:07 PM
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 :-)

I feel like I need to amend my recent NW tally, given what happened with the markets over the last two days ;-)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: lhamo on August 22, 2015, 11:16:22 PM
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 :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 23, 2015, 04:56:06 AM
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 :)

No spare cash for me as I do my investing automatically on a monthly basis.  But I do want to do some tax loss harvesting on Monday in my international fund and I need to check if rebalancing is in order.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cookie78 on September 16, 2015, 02:24:33 PM
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!!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: meadow lark on September 17, 2015, 10:29:21 AM
Cookie - yay!  Way to be ahead of schedule!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on December 02, 2015, 12:12:33 PM
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 am am certainly not going to get to $570K in January 2016, as I am only at $520K today.  :(  It will be interesting to see what the markets do in December.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on December 02, 2015, 03:37:15 PM
You can make a new set of predictions in the New Year, then laugh at them again a year from now!  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pooperman on December 02, 2015, 04:01:21 PM
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!

I'm at $57k now, looking like $60k maybe, not $65k like I predicted. However, not that far off and the markets did nothing at all. The yearly summary: could have done better or worse, didn't.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: BBub on December 02, 2015, 04:20:23 PM
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)

Sitting at $255, hopefully looking at $265ish by year end.

The yearly summary: could have done better or worse, didn't.
Ha.  +1
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: OurTown on December 07, 2015, 03:19:42 PM
Jan. 1, 2017:  433
Jan. 1, 2018:  504
Jan. 1, 2019:  579
Jan. 1, 2020:  657
Jan. 1, 2021:  739
Jan. 1, 2022:  825
Jan. 1, 2023:  916
Jan. 1, 2024:  1,011
Jan. 1, 2025:  1,111
Jan. 1, 2026:  1,216

This assumes I make a 5% ROI and that I save a paltry 50K per year.  Any badass adjustments would significantly accelerate this process.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Wile E. Coyote on December 31, 2015, 05:56:24 PM
The goals that I have in my current model are:

2014 $1.34M
2015 $1.56M
2016 $1.81M
2017 $2.09M
2018 $2.38M
2019 $2.71M
2020 $3.08M

Stretch goal is to move that $3.08M closer by a few years.

Has it been 6 months already?  Pretty much on track.

Updated goal numbers:

2014 $1.36M (actual)
2015 $1.59M
2016 $1.84M
2017 $2.12M
2018 $2.44M
2019 $2.79M
2020 $3.17M

Another year in the books.

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


It looks like we will be shy of even my original goal this year, but keeping the remaining goals the same, but they are probably not realistic.  It's good to have stretch goals, I suppose.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Vilgan on December 31, 2015, 10:30:18 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: lucky-girl on January 01, 2016, 07:32:46 AM
What a great thread. I've already enjoyed scanning this thread and seeing your progress. And I'm ready to jump in.

Unfortunately, this year our net worth was down from the year before. Partly this was a result of bad performance of our portfolio in the market. Also partly as a result of a flat year with regards to savings. We sold a property early in the year and made the decision to put some of that money towards improvements to our house.

So- looking forward:

Today, Jan 1 2016: 750k
One Year: Jan 1, 2017: 817k
Two Years: 2018: 890k
Three Years: 2019: 965k
Fours Years: 2020: 1045k (I'll be 40)

This is a pretty conservative estimate with about 15k of savings each year, and a 7% increase due to appreciation and market movement. At this rate, we'd hit 1.5 million around my 45th birthday in 2025, and that might be enough to FIRE, specially since both SO and I tend to like to work and contribute (though I'd love part-time!).

Wouldn't it be nice to get there sooner!! Hopefully we can increase our savings, and maybe there will be a growth period in the market, or we'll finally get our act together and invest in some real estate. There is also the prospect of a pre-inheritance-style gift from my father, which would goose things considerably. On the other side of the coin, there is some talk about private school for my son. That could slow things down. We shall see.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: muckety_muck on January 01, 2016, 08:04:49 AM
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)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: nawhite on January 01, 2016, 09:33:44 AM
Net worth = $0 by January 2014. And its going to be amazing!
If I count appreciation on my house (according to zillow which is fairly accurate in my area), I hit $0 net worth in early December. If I don't count the appreciation, I will hit $0 net worth last Friday but will probably drop down below $0 again before the next paycheck. From that point on though its UP UP UP!
I guess I need to go more long term now.

Current NW: $30k
Current Student Debt: $90k (assets are about $120k)

Jan 2015: $75k NW, $75k debt
Jan 2016: $130k NW, $50k debt
Jan 2017: $200k NW, $20k debt
March 2017: $250k NW, $0k debt

It's that time of year again!

I happened to log in to Mint again and found that I hit 100k NW this week which puts me about 25k ahead of my goal for January. I'm using numbers in Mint as my milestones even though I now think Mint overvalues my house by about 5-7% and doesn't include my HSA's (stupid employer plan). I think the final goal in March is a little bit of a stretch even without a possible market downturn between now and then so I'm going to just up the other goals to match up to it better:

Jan 2015 Actual: $105k NW, $68k non-mortgage debt
Jan 2016 Goal: $150k NW, $40k debt
Jan 2017 Goal: $220k NW, $15k debt
March 2017 Goal: $250k NW, $0k debt

Granted this might all change because this year I got a job I can work remotely from anywhere and my wife and I are dreaming about fulltime RVing while working so the numbers might change a lot between now and then.

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

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

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

I'll leave the goals the same and see where they land next year after we've been in the RV for a while. Congrats to everyone on their progress!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: marty998 on January 02, 2016, 06:29:51 PM
Ok I'll play

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


Dec'15 actual ~$712,000
Dec'16 $790,000
Dec'17 $925,000
Dec'18 $1,050,000

Can't bank on property valuation increases this year. Going to do it the old fashioned way - savings grunt work.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on January 02, 2016, 08:20:56 PM
Here is the end of year update for us.  We increased our goals mid year and we still blew them out of the water!  Our home value increased 15k this year so that helped but we were still able to contribute about 80k towards investments and cash accounts.



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

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





Hopefully we can keep the momentum going for 2016!

SS
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Bardo on January 03, 2016, 06:36:18 AM
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

And I think your future self will appreciate it.  I still have my 10-year plan spreadsheet from early 2004, and 12 years later I'm glad that I set out savings benchmarks early on. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: aceyou on January 03, 2016, 12:30:51 PM
This seems like a good time to jump into this thread. 

Totals at the end of 2015
Total Assets:$569,405.00
Total Liabilities:  $191,114.00
Net worth including the value of my pension: $378,291.00
Net worth not including the value of my mention:    $277,942.00

Goals for the end of 2016
Total Assets: 600,000
Total Liabilities: 155,000
Net worth including pension value: $445,000
Net worth not including pension value: $325,000

Longer Term Net Worth Goals
1 Million not including pension when I'm 41 (I'm 32 now)
2 Million not including pension when I'm 48 (This is when I currently plan to retire from teaching)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: monarda on January 03, 2016, 12:49:30 PM
Only just saw this thread...

I've included all accounts ($120K), plus equity in real estate investments ($410K), and primary residence ($90K)

Some goals considering only conservative growth, rental income, principal payments to mortgages, small amount of additional savings.  I will likely save more to add to these numbers, but my job outlook is hazy for 2015, so not counting on being able to save much (but maybe I won't worry about it)

2014  $620K
2016  $750K
2018  $900K

1M by 2020 (age 60), preferably sooner.

Adjusting these values based on Zillow numbers (instead of my own guesstimates) and reducing expectations further due to lack of current employment (other than rental income)

current cash (140K)  rental equity ($410K)  primary residence equity ($103K)

2015 $653K
2016 $700K
2018 $800K

still could go for $1M by 2020, but it's more of a stretch now

Switching to January updates, and factoring in new job

end of 2015  $697K
end of 2016  $760K
          2017  $850K
          2018  $900K  (goal to be working  part time)
          2020  $1M  much more doable
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cookie78 on January 03, 2016, 01:05:19 PM
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. :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: steveo on January 04, 2016, 02:17:42 AM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on January 04, 2016, 06:41:25 PM
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)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: BBub on January 05, 2016, 06:22:06 AM
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)

I came in light as well at $258k.  Still shooting for $400 by year end 2016.  Here goes!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pooperman on January 05, 2016, 07:46:49 AM
Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $85k
Jan 1 2018: $115k
Jan 1 2020: $190k
Jan 1 2025: $450k
Jan 1 2030: $800k
Jan 1 2035: $1300k
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: zephyr911 on January 05, 2016, 11:07:38 AM
Today: 260K

I use my birth month (June) for annual milestones:

2016: 300K
2017: 390K
2018: 500K
2019: 575K
2020: 650K
2021: 700K
2022: 750K

I'm reaching the point where side work pays my bills - Air National Guard is around 18K and rising, and real estate should climb past 10K this year. I plan on staying ANG until 2022 (20yr retirement) and doing real estate as my FIRE job (I love it), so NW targets are fairly flexible, but I want to run the score up as high as possible, both to make sure I only quit once, and to increase my odds of a charitable surplus later on.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: onlykelsey on January 05, 2016, 11:33:30 AM
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:

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: frugalfanny on January 05, 2016, 05:03:01 PM
January 2015: $11k
January 2016: $27k
January 2017: $45k
January 2018: $62k
January 2023: $177k
January 2028: $280k

A reminder to try harder...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ohyonghao on January 06, 2016, 11:16:08 AM
Well, looks like we didn't do too shabby this year (goals are end of year):
Quote from: ohyonghao
2015: $140,000 (+70,000)
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)
2014: $  77,439
2015: $144,809 (+67,370)
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)

Looks like my math was a little off with the +70k, but I'll take it.  We were pretty aggressive this year with savings, and have decided to switch up the strategy a little bit.  Instead of focusing a lot on traditional IRA, we're going to first focus on the 401k, then use the IRA possibly each quarter to push money over, and maybe even up to tax season of the following year to take full advantage of tax savings.  We stretched this year to drop our taxable income below $60k for the tax savers credit and got it.  Looking forward to an amazing 2016.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: TheFirstMan on January 07, 2016, 08:19:55 AM
Currently, investments and cash is 249K.

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

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

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

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





Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: MoneyRx on January 11, 2016, 01:20:21 PM
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. =)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mazzinator on February 04, 2016, 11:27:56 AM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

1/1/2015: $55k
1/1/2016: $105k
1/1/2017: $160k
1/1/2018: $220k
1/1/2019: $280k
1/1/2020: $350k (husband will retire from active duty military in 2020 or 2021)

1/1/2016: $89K

Didn't make it to this years goal. But i'm still keeping the numbers the same for the future. Just have to push harder to reach them!!!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: andy85 on February 04, 2016, 12:19:10 PM
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
Dude...our NW outlook is extremely similar...should be fun to watch!

goal/stretch goal
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k
2015 Actual - 40,500
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pooperman on February 04, 2016, 12:37:03 PM
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
Dude...our NW outlook is extremely similar...should be fun to watch!

goal/stretch goal
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k
2015 Actual - 40,500

January really did a number on the NW total. $57k -> $49k. Some major expenses and bad market conditions to blame (mostly the expenses though).
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dreams_and_discoveries on February 05, 2016, 07:14:59 AM
I'm very impressed with all these targets, although I've been monitoring my NW for a few years, this is the first time I've actually set myself targets. He we go...

End 2015 actual 393,000

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




Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Scubanewbie on February 09, 2016, 08:41:08 AM
Love the concept of big lofty goals!  These are very aggressive (for us) so may need to adjust but its based on market growth of 7%, increasing savings 5% each year, and not taking into account any college savings ($6K/year) since they'll be spent pre-RE.  The only asset/liability other than cold hard cash is our house (assumed 2% appreciation per year) because we paid for cash cars and should be set for a few years on one and 10 years on the other.

This has us at $1M net worth in 5 years and over $2M in 10 years excluding the house.  $2M is my comfort level for feeling FI.  There's not a high likelihood I'll RE on it, but I place a pretty high priority on feeling secure so milestones like knowing I can live on $70K/year (3.5% SWR) make me breathe easier, even if I don't want to pull the plug on working.  My kids will be 16 and 13 at that point (aahhh!) so who knows what I'll want but the tentative plan is to RE shortly after they leave the nest (DH and I would be late-40s so late by MM standards and early by others).

EOY              Assets             Liabilities             NW plan              NW Actual
2015                 $540K              $91K               $450K           
2016                 $605K              $68K               $537K
2017                 $678K              $45K               $633K
2018                 $760K              $21K               $739K
2019                 $862K              $0                   $862K
2020                 $988K              $0                   $988K
2021                 $1,140K           $0                   $1,140K
2022                 $1,322K           $0                   $1,322K
2023                 $1,538K           $0                   $1,538K
2024                 $1,792K           $0                   $1,792K
2025                 $2,090K           $0                   $2,090K
2026                 $2,438K           $0                   $2,438K
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: markbike528CBX on March 09, 2016, 09:32:51 AM
$2M by 2019.
   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).


edit for year, I got the year and our ages(55) in 2019  mixed up.

however, we were almost at 1.7M in 2015.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ender on March 09, 2016, 05:24:29 PM

$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).

You might want to revise this goal, as 2015 is already passed ;)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: gecko10x on March 22, 2016, 12:50:47 PM

Further broken down goal (all End-of-year):
2013: $78k
2014: $105k
2018: $300k
2021: $550k
2025: $1m
My current targets are:
2016: $225k
2017: $275k
2018: $340k
2019: $400k
2020: $475k
2021: $550k
2025: $1m

$225k achieved.

New targets, with added retirement targets:

EOYNWRetirement
2016:     $275k     $200k     
2017:     $335k     $240k     
2018:     $400k     $290k     
2019:     $465k     $340k     
2020:     $530k     $390k     
2021:     $600k     $440k     
2025:     $1M     $625k     
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: afuera on March 24, 2016, 08:53:05 AM
It took us 2 years to go from -20K to 105K and for that first year we had not even learned The Way of The Mustache.
We currently down to 1 income so hopefully big lofty net worth goals will help us kick it up a notch
EOY             NW plan        NW Actual
2015              $100K             110K
2016              $175K
2017              $275K
2018              $400K
2019              $550K
2020              $725K
2021              $875K
2022              $1.0M






Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Bateaux on March 24, 2016, 11:49:01 AM
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)




Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: BBub on March 24, 2016, 12:43:19 PM
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 [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)

Hanging out just below $300k.  Might hit $400 by year end, might not.  Who knows?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: RetirementDreaming on March 24, 2016, 02:37:26 PM
I love this tread!  Investable assets for me.  I'm already tracking behind my goals but I'm hoping to make it up.  FIRE number is 1.5M.  My husband wants to "officially" retire from his employer. End of 2019 before he is eligible.

   Goal YE   Actual YE   Variance
2011   $375    $371    ($4)
2012   $500    $437    ($63)
2013   $650    $605    ($45)
2014   $800    $748    ($52)
2015   $950    $846    ($104)
2016   $1,100       
2017   $1,300       
2018   $1,500       
2019   $1,750       FIRE 1/2/20


Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Bateaux on March 30, 2016, 10:32:04 AM
Rebounding back from some of the early year losses.  Gained back over $10,000 yesterday and if todays rally holds likely another $5,000.  Holding mostly stock mutual funds hurts when the market drops.  On the positive days the growth can be incredible. I'm now only a few ticks up from a new net worth highpoint. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: catccc on April 20, 2016, 01:22:29 PM
My February 2014 post:
we are at $474 at the end of 2013.

Hoping to reach $570K by the end of 2014

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

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

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


Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: clarkfan1979 on May 10, 2016, 01:17:56 PM
2016: 385K (today)
2019 600K (goal)
2060: 10 million (goal)

Wife currently works part-time. We should hit 600K in 3 years, at which point she can choose to work or not work. Beyond that, I would like to hit 10 million before I die and create some sort of low-income college student scholarship fund.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: KisKis on May 11, 2016, 10:52:43 AM
Fun.  Good job to everyone!  Supposedly having a goal at all is half the battle.  I've been tracking my own progress since 2007 after graduating from college and getting married in 2006.  $350k of our assets and all of our liabilities are our house.  (Note to self: Gap in actual vs. projected from to house valuation at $316k in actual numbers due to estimated reduction based on housing market dip.)  Everything else is investments and savings.

EOY                   Assets             Liabilities          NW                                Household income
2007                 $364K              $282K             $82K      -Actual            $50K
2008                 $354K              $271K             $83K      -Actual            $60K
2009                 $379K              $266K             $113K    -Actual            $63K  (+ Kid #1)
2010                 $400K              $248K             $152K    -Actual            $90K
2011                 $428K              $224K             $204K    -Actual            $94K  (+ Kid #2)
2012                 $480K              $190K             $290K    -Actual            $109K
2013                 $550K              $166K             $384K    -Actual            $122K
2014                 $623K              $140K             $483K    -Actual            $140K
2015                 $677K              $108K             $569K    -Actual            $137K
2016                 $781K              $24K               $757K    -Projected       
2017                 $870K              $0                   $870K    -Projected
2018                 $984K              $0                   $984K    -Projected
2019                 $1.1M              $0                   $1.1M     -Projected 

2021                 $1.3M              $0                   $1.3M     -Projected  - DH retirement goal ($1M in investments, age 37)
2032                 $2.4M              $0                   $2.4M     -Projected  - My retirement goal (minimum for pension, age 48)           


Wow, that pretty much sums up my life.

I prefer conservative projections.  Stretch goals always exist internally, but it's only a general motivation to beat projections, which has happened every year so far.  That last 14 year stretch of being the only worker may be a slog, but I am determined to stick it out for the pension, which would begin immediately.  Household income has probably gotten close to topping out.  I don't think we'll pass $160K, which is okay with us.  We're not very career oriented.  The big salary jumps have come because we're both competent, optimistic employees who are happy to be cogs on the wheel, so easy opportunities fell into our laps.  Only one job change between the two of us.  Our individual incomes have each tripled.  I am so grateful that things have turned out so well for us.  I never would have guessed coming out of college making $27K and $23K each, though to be honest, we started REALLY low for graduating from a top 10 university just because we were dumb and had no idea how to negotiate starting salaries.  Also we live in a rural area, so I felt at the time that the employers had the position of power.  I had an offer for $60k+ base salary in California post-graduation (a salary that I've only just reached now in Alabama), but DH's family is here, and thinking back now, while our financial position may have ended up better in a major metropolis, our setup here with family and other environmental assets can't be beaten.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Kroaler on June 02, 2016, 04:36:41 PM
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.

Were the same age with the same goal!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Jojje on June 11, 2016, 12:13:55 PM
I'll join! We started our FI journey a year ago and this seems lika a nice way to review progress and historic NW goals, this is the household situation.

1=10LoC

1Mars               Free assets       Pension            NW                                Household income
2015   (june)     67K                185K             220K    -Actual              106K    (SR r12-10%)
2016                 167K              209K             284K    -Actual              103K    (SR r12-49%)
2017                 -                    -                   365K    -Projected
2018                 -                    -                   450K    -Projected
2019                 -                    -                   538K    -Projected 
2020                 -                    -                   632K    -Projected
2021                 -                    -                   730K    -Projected 
2022                 -                    -                   833K    -Projected           
2023                 -                    -                   941K    -Projected   - Retirement goal (1M age 42) 
2024                 -                    -                   1,05M   -Projected 


Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: MVal on June 23, 2016, 08:24:57 AM
My stretch goal for this year is to hit $80,000. I really want to push to hit $100,000 by this time next year, but if the markets stay the same as this year, I'll probably fall a little short. I really want to come up with a good side gig whereby I could make an additional $5K+ per year because it's really giving me anxiety being below six figures. Plus, raising my income by $5K would allow me to rent my own place without cutting back on any of my current savings rate...I've been enjoying the economy of living with a roommate for many years, but I feel my life could expand more if I lived alone, since I'd have more room and freedom in the house to work on projects I've been wanting to do and have room to host family visits from out of town.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: beege on June 26, 2016, 08:29:20 AM

(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.

OK I got the reminder on my phone to revisit this thread (thanks google calendar) so here's year two:

$750K: GOAL FAILED. We had more income than ever before but a move to a more expensive area and a flat stock market didn't help much beyond normal savings.

I had a reality check sometime this year and started calculating our liquid net worth since I resigned to the fact that we're paying off my SO's mother's place. In light of that I've revised the goals for the future. We are planning to move to a lower-rent area in 3 months, (our highest expense), get back into optimizing our grocery spending and possibly dump our unreliable car but my job prospects are unsure more than a year out at this point (exciting!) so there's a lot to account for in the upcoming years:

Liquid net worth (retroactively added past years)
June 2014 - $394K - actual
June 2015 - $547K - actual (goal met)
June 2016 - $692K - actual (goal failed by approximately $50K)
June 2017 - $842K - goal
June 2018 - $942K - goal
June 2019 - $1042K - goal
FIRE

Targeting around $1MM in liquid net worth for our FI number. We are going to be responsible for paying for my mother in law's HOA fees/mortgage for the foreseeable future so we need enough to cover that and as I mentioned my job might be going away next year and I'll probably have to take a lower paying one but we're getting pretty close to FI so we are already starting to have the confidence to pursue our dreams (move to a far away place and try living there for a year) and care less about money.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cookie78 on July 06, 2016, 12:21:05 PM
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. :)

Hit my Jan 2017 goal today! :)

I'm at 101k now and want to dump another 8k in RRSP by the end of the year and put an additional 7.5k in my truck/camper/canoe fund. House repairs are coming along fine, but so far without costing me much at all besides time, effort, and a lot of DIY learning.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Ottawa on July 06, 2016, 12:42:24 PM
Currently:
Property 300K
Portfolios 430K
Debts: 0
Current Pension value(2 people) : 350K ( no collect until 2032)
Net worth = 1.08M

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

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

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

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. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: mr_orange on July 07, 2016, 12:33:03 PM
Fun thread.  Thanks for starting it. 

Current net worth - About $1.08M
2015 End Target - $1.5M
2016 End Target - $2.0M
2017 End Target - $2.5M (FIRE)

Each year I plan to make about the same with the risk in our businesses going down each year through reduced contingent liability leverage, increased liquidity, and reduced overall long-term debt.  We also hope to minimize taxes as much as possible while trying to limit debt. 

Thereafter I plan to work on my businesses full time and have the flexibility to work as much or as little as I want to.  I really like working so I can't see sitting on the beach.

Tracking to $1.5M....maybe.  We are at about $1.325M right now.  If the stock market holds up or lifts a bit we will probably make it. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on July 07, 2016, 06:47:56 PM
Fun thread.  Thanks for starting it. 

Current net worth - About $1.08M
2015 End Target - $1.5M
2016 End Target - $2.0M
2017 End Target - $2.5M (FIRE)

Each year I plan to make about the same with the risk in our businesses going down each year through reduced contingent liability leverage, increased liquidity, and reduced overall long-term debt.  We also hope to minimize taxes as much as possible while trying to limit debt. 

Thereafter I plan to work on my businesses full time and have the flexibility to work as much or as little as I want to.  I really like working so I can't see sitting on the beach.

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

It'd have to be a really good stock market run to affect your net worth six months in the past. ;)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: mr_orange on July 07, 2016, 06:55:34 PM
Yup....sure would.  I think the dates got mixed up above ;-)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Nick_Miller on July 11, 2016, 08:43:22 AM
This is exactly the thread I was looking for!

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

For the rest of 2016, I'd like to increase our net worth from $120K to $150K. Then for 2017, I'd like to increase it from $150K to $200K.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: marty998 on July 17, 2016, 03:15:38 PM
Ok I'll play

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

Will probably not be enough for FI given more than half will be trapped in housing. Maybe 3 years after that at $1,700k I could make it work.

(Kick me off the forum for the wahh wahh complainypants in this post :P  )

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

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

Gotta start rethinking strategy beyond simply acquiring more assets.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: TheFirstMan on July 21, 2016, 02:57:16 PM
Currently, investments and cash is 249K.

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

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

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

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

Alright, halfway through the year, and we're at 421K--totally on track for 440K by the end of the year. Woohoo!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mazzinator on August 03, 2016, 07:50:57 PM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

1/1/2015: $55k
1/1/2016: $105k
1/1/2017: $160k
1/1/2018: $220k
1/1/2019: $280k
1/1/2020: $350k (husband will retire from active duty military in 2020 or 2021)

1/1/2016: $89K

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

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

Trying hard to reach my 1/1/17 goal of $160k!!!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: rothnroll on August 03, 2016, 08:07:57 PM
I'll play
4 year plan.

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

My wife is starting back to work next year. I think that these goals are attainable.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: mizzourah2006 on August 04, 2016, 12:01:12 PM
Cool idea! Here is what we are aiming for.

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

We shall see :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: sailinlight on August 04, 2016, 01:19:21 PM
I need to post more!
Current NW: 631k. 

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

Throwing down the guantlet
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: lhamo on August 04, 2016, 06:44:28 PM
I need to post more!
Current NW: 631k. 

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

Throwing down the guantlet

This seems like a very ambitious goal. Do you have a massive income or something?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dreams_and_discoveries on August 11, 2016, 03:35:09 AM
I'm very impressed with all these targets, although I've been monitoring my NW for a few years, this is the first time I've actually set myself targets. He we go...

End 2015 actual 393,000

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

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

I have new more ambitious targets, but given the climate not sure if these will be over-ambitious, so I'll wait to the end of the year to see what happens to the pound, house prices and the stock market.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on August 11, 2016, 05:12:48 AM
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.

I'm not sure where I came up with those previous goals.  Here is my current prediction:

Current NW:  $480,507
January 2016: $570,000
January 2017: $670,000
January 2018: $779,000
July 2018:  $840,000 (and hopefully retirement, as I will hopefully have over $523K free and clear)

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

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

I am currently at $612K.  Should be able to reach $630K well before January 2017.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: boarder42 on August 11, 2016, 05:58:14 AM
I'm in just going to do invested NW

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

those are all today dollar projects so they should beat that. Hoping to essentially triple our invested networth in 4 years.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on August 11, 2016, 11:33:47 AM
I want to retire in 5 years at the age of 50.  I just pulled out my calculator and added it all up.  Current net worth is $632,000 (assuming restricted stock will vest as scheduled over next 3 years).  This includes equity in my current home (which I will sell at retirement) and my retirement apartment.

One year update, using the same methodology.
It has been a great year both in terms of my compensation and market gains. 

August 2013: ~$632,000
August 2014: ~$897,000

for an increase of $265,000, of which ~$161,500 were savings (including mortgage principal paydown and 401k match) and the rest being market gains.

ETA: I have assumed that the value of my current home and my retirement apartment have not changed from last year.

Year 2 update, using the same methodology:

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

for an increase of $199,000.  Not as impressive as last year primarily due to changing my asset allocation to 60/40 and the market basically going sideways over the last year or so.  I have also reduced the value of my condo in the calculation because the prices have gone down since last year (the condo will be sold at retirement).

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

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

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

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

FIRE goal is still April 1, 2018, but I seem to be about 18 months ahead of schedule on my NW and investment portfolio goals. I guess my goals were pretty conservative...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Simpli-Fi on August 11, 2016, 12:08:47 PM
Since I don't have a fancy spreadsheet that tracks my progress, I should hit something down tied to a date.

August 2016: $756k

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

New kid on the way so I don't know how this will change things.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dragoncar on August 13, 2016, 11:31:40 PM
Fun thread.  Thanks for starting it. 

Current net worth - About $1.08M
2015 End Target - $1.5M
2016 End Target - $2.0M
2017 End Target - $2.5M (FIRE)

Each year I plan to make about the same with the risk in our businesses going down each year through reduced contingent liability leverage, increased liquidity, and reduced overall long-term debt.  We also hope to minimize taxes as much as possible while trying to limit debt. 

Thereafter I plan to work on my businesses full time and have the flexibility to work as much or as little as I want to.  I really like working so I can't see sitting on the beach.

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

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

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

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

I've done the same thing though, once I decided to count our pensions as an asset, and went back and edited in their values back to the time I started counting our NW.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dragoncar on August 14, 2016, 02:56:00 AM
This almost happened to me when I sold a property.  I hadn't been counting appreciation in my NW because it was uncertain.  Once I knew the actual appreciation I went back and updated my monthly spreadsheet numbers assuming linear appreciation (instead of counting it as a huge one-month gain -- others disagreed about this accounting method).  So effectively a really good real estate market increased my net worth from the prior 6 months.

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

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

Haha I knew this would happen.  Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market (yeah you can estimate, but no sales price is as sure a thing as a high volume index fund).  And more to the point, if mr orange ended up selling his business for an unexpected profit, he could end up having hit his target numbers without realizing it.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on August 14, 2016, 03:34:51 AM
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market

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

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

(https://67.media.tumblr.com/tumblr_m7ha0vnbOa1rwzsbso4_400.gif)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: forummm on August 14, 2016, 04:25:24 PM
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market

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

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

(https://67.media.tumblr.com/tumblr_m7ha0vnbOa1rwzsbso4_400.gif)

Wow, that's a lot of posts!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Primm on August 14, 2016, 04:32:23 PM
Since we are being pedantic, it wasn't a mistake since it's basically impossible to mark to market

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

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



You've been busy, I'm sure I remember when we were discussing your 10,000th.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Lagom on August 14, 2016, 04:44:40 PM
This almost happened to me when I sold a property.  I hadn't been counting appreciation in my NW because it was uncertain.  Once I knew the actual appreciation I went back and updated my monthly spreadsheet numbers assuming linear appreciation (instead of counting it as a huge one-month gain -- others disagreed about this accounting method).  So effectively a really good real estate market increased my net worth from the prior 6 months.

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

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

How do you count your pensions as part of your NW? Multiply them by 25? And, presuming you started counting NW before you stopped working, how were you estimating the rise in the value of your pension in total dollar terms?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on August 14, 2016, 05:23:41 PM
This almost happened to me when I sold a property.  I hadn't been counting appreciation in my NW because it was uncertain.  Once I knew the actual appreciation I went back and updated my monthly spreadsheet numbers assuming linear appreciation (instead of counting it as a huge one-month gain -- others disagreed about this accounting method).  So effectively a really good real estate market increased my net worth from the prior 6 months.

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

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

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

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

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

The question, of course is why you want to count it.  I'd separate it out from your investment portfolio for a 4% rule thing, and subtract of what it will provide from expenses (assuming it's stable, and COLA'd). Otherwise I'd model it in www.cfiresim.com for what your stache is, and input it as a separate income stream in the year you will receive it.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cassie on August 14, 2016, 05:58:06 PM
I have always counted our pensions as part of our NW and we get COL raises starting with the 4th year.  I guess the only reason not to is if they were unstable.  We can and did leave them to each other for a small reduction. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Lagom on August 14, 2016, 06:19:20 PM
We've had a couple discussions on how to value pensions.

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

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

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

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

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


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

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

Neither of us has pensions--alas!--so we have to save all of our pennies now and live off those.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on August 19, 2016, 03:58:33 PM
I haven't posted anything in this thread yet, but it inspired me to look back at some of my net worth projections from when I first discovered MMM. It was almost exactly two years ago, so this seems like a good time to review.

When I first started to get serious about my finances (July 2013), I calculated my net worth to be about $35,000. I had a few hundred in student loans, about $10,000 in car loans, and $130,000 on my mortgage. Towards the end of 2013, I made my first long-term net worth projections. Here's what I came up with at the time:

End of:
2013 - $67,700
2014 - $106,000
2015 - $150,000
2016 - $197,000
2017 - $247,000
2018 - $300,000
2019 - $358,000
2020 - $419,000
2021 - $485,000
2022 - $555,000
2023 - $630,000   Retire!

So far, I have been knocking out goals ahead of schedule. I quickly put the student loans and car loans to bed. I've paid the mortgage down to 107,000 and I'm now renting it out. And just today, my net worth crossed the $150,000 mark for the first time - a full 6 months ahead of schedule! So I have updated my net worth goals accordingly.

End of:
2015 - $180,000
2016 - $245,000
2017 - $315,000
2018 - $390,000
2019 - $470,000
2020 - $555,000
2021 - $645,000   Retire!

Two years earlier than I originally projected! Let's see if I can keep the snowball rolling downhill :)


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

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

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

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


Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on August 19, 2016, 04:12:02 PM
I'm in a similar way with knocking out the goals early.

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

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

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

Same thing happened to me.

Membership in this forum seems to be detrimental to one's working time.  ;)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: oldtoyota on August 19, 2016, 09:47:35 PM
I'm in a similar way with knocking out the goals early.

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

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

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

Same thing happened to me.

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

Ha. =-) Thank goodness for this forum!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: PFHC on August 19, 2016, 10:14:23 PM
I'd love to hit $100k/yr.

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

Assuming nothing changes, a more realistic number is likely $70k/yr. That pushes FI out to 2024, or age 44; which, considering I passed 0NW at age 33, would be a HUGE win in my book.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: bluerunner on August 24, 2016, 09:56:02 AM
Below is my forecast of liquid, investable assets -- excludes primary residence.  Assumes market returns about 6%/year, so any recessions would impact forecast. :)  I think my FI is 4 but it's hard to imagine that I would stop working at 47-48.

Jan 2017: 1.2
Jan 2018: 1.43
Jan 2019: 1.69
Jan 2020: 2
Jan 2021: 2.35
Jan 2022: 2.75
Jan 2023: 3.15
Jan 2024: 3.68
Jan 2025: 4.28
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: boarder42 on August 24, 2016, 10:05:26 AM
Below is my forecast of liquid, investable assets -- excludes primary residence.  Assumes market returns about 6%/year, so any recessions would impact forecast. :)  I think my FI is 4 but it's hard to imagine that I would stop working at 47-48.

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

you spend 160k a year?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Lagom on August 24, 2016, 10:42:34 AM
I'd love to hit $100k/yr.

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

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

Very nice work. This is inspirational for me, a 33 year old who expects to finally pass onto the positive side of 0NW next month! I have similar aspirations, although my wife and I both have pensions, so that will change our calculus somewhat. I think 70k/year is a great number for those in a higher COL area. Should allow very comfortable day to day living with one big and several small vacations each year.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Simpli-Fi on August 24, 2016, 11:52:48 AM

Same thing happened to me.

Membership in this forum seems to be detrimental to one's working time.  ;)
Fact.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: CowboyAndIndian on August 24, 2016, 11:57:49 AM
I'd love to hit $100k/yr.

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

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

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

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

For example, my first networth of X dollars took 10 year, The time take to reach 2X was just 5 years....
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: PFHC on August 24, 2016, 07:17:53 PM
Very nice work. This is inspirational for me, a 33 year old who expects to finally pass onto the positive side of 0NW next month! I have similar aspirations, although my wife and I both have pensions, so that will change our calculus somewhat. I think 70k/year is a great number for those in a higher COL area. Should allow very comfortable day to day living with one big and several small vacations each year.
Thanks, man. We've been completely pumped with the results. The NW has really taken off, especially since integrating MMM methods.

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

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

For example, my first networth of X dollars took 10 year, The time take to reach 2X was just 5 years....
Yeah, we've seen that, too. First 100k took 2.5 years. The next took 1. And, I'm not expecting it. I expect better. But, when I plan, I like to be as conservative as possible.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: webguy on August 24, 2016, 07:59:57 PM
I want to join in and set myself some public goals so that I'm held accountable.  My goals are:

Current NW:  $420k
Jan 1 2016:  $650k
Jan 1 2017:  $950k
Jan 1 2018:  $1.1M

I need to update my goals!

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: PFHC on August 24, 2016, 09:37:50 PM
I want to join in and set myself some public goals so that I'm held accountable.  My goals are:

Current NW:  $420k
Jan 1 2016:  $650k
Jan 1 2017:  $950k
Jan 1 2018:  $1.1M

I need to update my goals!

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

Holy shit. Well done.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on August 25, 2016, 08:45:59 PM
I want to join in and set myself some public goals so that I'm held accountable.  My goals are:

Current NW:  $420k
Jan 1 2016:  $650k
Jan 1 2017:  $950k
Jan 1 2018:  $1.1M

I need to update my goals!

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

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

Have you started thinking about "enough"?  What's the ultimate goal?  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: muckety_muck on September 01, 2016, 02:01:52 AM

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

Met our goal of $1M already at 8/31/2016... sights are set high for 2017!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: MMMotivated on October 11, 2016, 11:27:35 AM
I have been looking through old spreadsheets, and here is the data that I pulled up.  Somewhat uneven growth at times, and not the rapid growth of some others on the blog:

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

I don't have a next-step goal.  It would be nice to reach $2 million in a few years.  I am reassessing my future growth goals for our NW, specifically the percentage to have in a total US stock fund, for the long term, and the percent in cash and safe funds.  We will begin drawing from the funds in 2017.  I am currently able to FIR (somewhat) E at 59.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: bownyboy on October 12, 2016, 04:22:52 PM
Great thread. Like others have said on here, although I track our networth, its not an indication of when we can FIRE because about 70% is tied up in our modest 3 bedroom cottage. Being in the south east of UK we have experienced huge house price inflation over the last 7 years since we bought our house.

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

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

Here's the plan to be FIRE by 2021

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

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

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: steveo on December 08, 2016, 06:28:58 PM
I don't really track net worth because my net worth is significantly higher than what I consider my FI asset level. I own a house with a mortgage that is probably now worth close to $1 million. I don't include the house value in my FI asset level as I have to live somewhere and if we are retired and for whatever reason money becomes a problem we can sell the house and downsize significantly or move to another area. A $1 million house where I live is far from anything that special as well.

End of 2015
1. No debt which consists solely of the mortgage (we might not make this but we will be close)
2. Super - $200k. This is assets that we can't use until we are about 65. We already have this amount but I couldn't be bothered to create a target here.
End of 2016
1. $100k in non-super assets. This will be really tough.
End of 2017
1. $200k in non-super assets. Again tough.
End of 2018
1. $300k in non-super assets. Again tough.
End of 2019
1. $400k in non-super assets. Again tough.
2. Super say $300k.

=> The allocation between super and non-super may be a little different but hopefully we are at about those numbers.

At this point I think we will work less and take more vacation time for the next 5 years as another buffer. If we choose to quit at any point it should be okay but we will have less to spend in retirement.

All of this is assuming we keep our jobs as is and the markets achieve 0% returns. Anything can happen over the course of 5 years so I guess we will just have to wait and see.

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

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

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

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

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

I think the plan remains about the same. I'm looking to retire in 2020 and that is on track. At the moment my date is 1st July 2020 because that is the start of the new financial year. I don't intend to work part time for 5 years now because I don't think that we will need too.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on December 08, 2016, 07:16:34 PM
Here is now what my crystal ball tells me:

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


Currently at $657,000.

Would like to hit $800,000 when I retire in July 2018.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Simpli-Fi on December 14, 2016, 03:26:42 AM

August 2016: $756k

Short term goal August 2017: $900k

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

Goals
August 2017: $1M
If I can stay employed
August 2018: $1.25M
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: bridget on December 17, 2016, 09:48:32 AM
New on the thread! A lot of factors are very up in the air for me (will I stay at my job more than 2 years? Will I collect all bonuses? Will husband get a job, if so which one?). So I've only set a goal for 2017.

NW at end of 2016: $280k
Easily-obtainable goal for end of 2017: $380k (assuming a flat market)
Stretch goal for end of 2017: $400k if husband does not get a job, $450k if he does.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: nawhite on December 19, 2016, 03:45:49 PM
Net worth = $0 by January 2014. And its going to be amazing!
If I count appreciation on my house (according to zillow which is fairly accurate in my area), I hit $0 net worth in early December. If I don't count the appreciation, I will hit $0 net worth last Friday but will probably drop down below $0 again before the next paycheck. From that point on though its UP UP UP!
I guess I need to go more long term now.

Current NW: $30k
Current Student Debt: $90k (assets are about $120k)

Jan 2015: $75k NW, $75k debt
Jan 2016: $130k NW, $50k debt
Jan 2017: $200k NW, $20k debt
March 2017: $250k NW, $0k debt

It's that time of year again!

I happened to log in to Mint again and found that I hit 100k NW this week which puts me about 25k ahead of my goal for January. I'm using numbers in Mint as my milestones even though I now think Mint overvalues my house by about 5-7% and doesn't include my HSA's (stupid employer plan). I think the final goal in March is a little bit of a stretch even without a possible market downturn between now and then so I'm going to just up the other goals to match up to it better:

Jan 2015 Actual: $105k NW, $68k non-mortgage debt
Jan 2016 Goal: $150k NW, $40k debt
Jan 2017 Goal: $220k NW, $15k debt
March 2017 Goal: $250k NW, $0k debt

Granted this might all change because this year I got a job I can work remotely from anywhere and my wife and I are dreaming about fulltime RVing while working so the numbers might change a lot between now and then.

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

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

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

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

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

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

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

So here are some new goals:

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

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

See you next year!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Wile E. Coyote on January 01, 2017, 08:50:29 PM
The goals that I have in my current model are:

2014 $1.34M
2015 $1.56M
2016 $1.81M
2017 $2.09M
2018 $2.38M
2019 $2.71M
2020 $3.08M

Stretch goal is to move that $3.08M closer by a few years.

Has it been 6 months already?  Pretty much on track.

Updated goal numbers:

2014 $1.36M (actual)
2015 $1.59M
2016 $1.84M
2017 $2.12M
2018 $2.44M
2019 $2.79M
2020 $3.17M

Another year in the books.

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


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

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

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mazzinator on January 02, 2017, 08:03:28 AM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

1/1/2015: $55k
1/1/2016: $105k
1/1/2017: $160k
1/1/2018: $220k
1/1/2019: $280k
1/1/2020: $350k (husband will retire from active duty military in 2020 or 2021)

1/1/2016: $89K

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

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

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

Sooooo close...

1/2/17 NW = $156,358
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Vilgan on January 02, 2017, 11:03:44 AM
Fun thread idea, will have to remember to come back to update in the future.

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

Goals:

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

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

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

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

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

Goal for Jan 1 2018 is 550k. Here's to a good 2017!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: HappierAtHome on January 02, 2017, 05:50:40 PM
2017: $1M.
2027: $2.5M.

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

We went backwards at the start of last year (sold a poor RE decision, realising the loss) so I'm surprised we're still on track. I guess if the inner city Perth apartment market hadn't dropped we'd have met the goal early.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: webguy on January 02, 2017, 08:16:20 PM
I want to join in and set myself some public goals so that I'm held accountable.  My goals are:

Current NW:  $420k
Jan 1 2016:  $650k
Jan 1 2017:  $950k
Jan 1 2018:  $1.1M

I need to update my goals!

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

Jan 1 2017:  $1.26M

Phew, just made it! I have no idea how 2017 is going to go income-wise, so I'm sticking with my $1.6M goal for now and I'll revisit in 6 months...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: andy85 on January 03, 2017, 12:11:01 PM
goal/stretch goal
2015 - 40k/45k
2016 - 60k/75k
2017 - 75k/90k
2018 - 95k/110k
2019 - 115k/130k

2015 Actual - $40,500
2016 Actual - $61,253
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: OurTown on January 03, 2017, 01:33:06 PM
Jan. 1, 2017:  433
Jan. 1, 2018:  504
Jan. 1, 2019:  579
Jan. 1, 2020:  657
Jan. 1, 2021:  739
Jan. 1, 2022:  825
Jan. 1, 2023:  916
Jan. 1, 2024:  1,011
Jan. 1, 2025:  1,111
Jan. 1, 2026:  1,216

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

Jan. 1, 2017 actual = 468
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: monarda on January 03, 2017, 09:49:56 PM
Only just saw this thread...

I've included all accounts ($120K), plus equity in real estate investments ($410K), and primary residence ($90K)

Some goals considering only conservative growth, rental income, principal payments to mortgages, small amount of additional savings.  I will likely save more to add to these numbers, but my job outlook is hazy for 2015, so not counting on being able to save much (but maybe I won't worry about it)

2014  $620K
2016  $750K
2018  $900K

1M by 2020 (age 60), preferably sooner.

Adjusting these values based on Zillow numbers (instead of my own guesstimates) and reducing expectations further due to lack of current employment (other than rental income)

current cash (140K)  rental equity ($410K)  primary residence equity ($103K)

2015 $653K
2016 $700K
2018 $800K

still could go for $1M by 2020, but it's more of a stretch now

Switching to January updates, and factoring in new job

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

   
      End of 2016      $829K  (cash about $200K)    Zillow values went way up, so this could be overestimating by 20-40K
let's boost 2017      $875K-$900K
                2018      $1M
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: smacpa on January 04, 2017, 05:40:29 AM
 New around here, but I love seeing all the progress.

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

2016 - 230k
2017 - 270k
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pooperman on January 04, 2017, 06:46:50 AM
Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

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

Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $70k
Jan 1 2018: $110k
Jan 1 2020: $205k
Jan 1 2025: $430k
Jan 1 2030: $685k
Jan 1 2035: $985k
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on January 04, 2017, 06:58:33 AM
Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

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

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

Bummer =/

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

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

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

Hope that turns around and those numbers start trending up!  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pooperman on January 04, 2017, 07:49:10 AM
Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

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

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

Bummer =/

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

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

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

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

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

Realistically, 1.5 million by 2035 is doable in 2035 dollars and once you account for the things the estimate is missing. I hope to use both stocks/bonds and local real estate to generate the money needed to retire in 18 years, but the simulation only accounts for stocks/bonds/cash.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on January 04, 2017, 08:00:17 AM
Got it.  Good luck! :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on January 04, 2017, 12:07:33 PM
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             
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dreams_and_discoveries on January 08, 2017, 04:29:08 AM
I'm very impressed with all these targets, although I've been monitoring my NW for a few years, this is the first time I've actually set myself targets. He we go...

End 2015 actual 393,000

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

I've got 550k for end of 2016, a good 50k above target (although lots of this is due to the devaluing of the pound)

2016 target is now increased to 670k.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: skip207 on January 08, 2017, 02:45:50 PM
Realistic targets for me:
2020-500k
2025-750k
2030-1m FIRE!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Secretly Saving on January 08, 2017, 04:39:49 PM
We're shooting for about a $200k increase in net worth for 2017. 
Huge, I know, but I think with some extra focus, it will be attainable.
   
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: catccc on January 10, 2017, 01:33:19 PM
My February 2014 post:
we are at $474 at the end of 2013.

Hoping to reach $570K by the end of 2014

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

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

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

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: CupcakeGuru on January 20, 2017, 07:20:52 AM

I love the idea of having somewhere to look back in a couple of years.

Here's mine and Mr. Cupcakes NW goal at year end. It does not include the house.
2015: 523k
2016: 600k
2017: 683k
2018: 773k
2019: 870k
2020: 974k
2021: 1,086k
2022: 1,205k

Jan 2 2017
Ended 2016 at 640k! 40 grand ahead of projections!
Thank you mustaches!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NICE! on January 22, 2017, 10:51:12 PM
Jan 1, 2015: $235k
Jan 1, 2016: $300k
Jan 1, 2017: $375k
Jan 1, 2018: $475k
Jan 1, 2019: $600k (I view this as a low FI #, one I could achieve if I really wanted to stop working.)

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

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

We currently give more than 10%. I'm wondering whether we should scale it back to 10% until we reach the low FI #. The argument for this is that we should shore up our financial security and then focus on helping others. The argument against is that we are still able-bodied, have high salaries, and people still need help today. I'm currently mulling over these thoughts.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: TheFirstMan on March 18, 2017, 05:18:22 AM
Currently, investments and cash is 249K.

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

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

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

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

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

Today

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

Investments: 293K

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

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

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

Future:

01/01/18...440K
01/01/19...511K
01/01/20...584K
01/01/21...660K
01/01/22...736K
01/01/23...817K
01/01/24...900K
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: afuera on March 20, 2017, 08:39:27 AM
It took us 2 years to go from -20K to 105K and for that first year we had not even learned The Way of The Mustache.
We currently down to 1 income so hopefully big lofty net worth goals will help us kick it up a notch
EOY             NW plan        NW Actual
2015              $100K             110K
2016              $175K
2017              $275K
2018              $400K
2019              $550K
2020              $725K
2021              $875K
2022              $1.0M
EOY             NW plan        NW Actual
2015              $100K             110K
2016              $175K             188K
2017              $300K
2018              $450K
2019              $625K
2020              $825K
2021              $1.025M
2022              $1.225M (FI)

Whoops, I never came back and update this at EOY.
Hubs was unemployed for 10 months in 2016 but we were still able to meet our NW goal (which shows they weren't lofty enough)!
Updated our targets going forward.  These are definitely stretch goals since our current plan is FIRE in 2025.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: recklesslysober on March 20, 2017, 06:20:30 PM
Following for inspiration. :)

My numbers (end of year):

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

2017: -$69K
2018: -$29K
2019: $11K
2020: $51K
2021: $91K
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: frugalfanny on March 20, 2017, 06:52:31 PM
January 2015: $11k
January 2016: $27k
January 2017: $45k
January 2018: $62k
January 2023: $177k
January 2028: $280k

A reminder to try harder...

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

January 2015: $11k
January 2016: $27k
January 2017: $45k 58k
January 2018: $62k 80k
January 2023: $177k 200k
January 2028: $280k 313k
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Simpli-Fi on March 20, 2017, 08:24:34 PM

August 2016: $756k

Short term goal August 2017: $900k

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

Goals
August 2017: $1M
If I can stay employed
August 2018: $1.25M
March 2017: $1M
5 months earlier than expected
December 2017: $1.2M
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: cantgrowone on March 27, 2017, 02:07:17 PM
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: afuera on March 27, 2017, 03:01:44 PM
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

Welcome!  You have a little bit of a head start on me but we are on pretty similar timelines (depending on how conservative or optimistic I am with assumptions).  Good luck!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: zinnie on March 28, 2017, 08:42:55 PM
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 :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dogboyslim on April 05, 2017, 04:16:27 PM
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)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: webguy on April 20, 2017, 12:47:53 PM
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)

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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: boarder42 on April 20, 2017, 02:30:26 PM
I'm in just going to do invested NW

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

thanks to some good gains and some early wealth transfer i'll hit 512k by the end of April - 3.5 months ahead of schedule.  will update projections then.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Secretly Saving on April 21, 2017, 02:41:25 PM
We're shooting for about a $200k increase in net worth for 2017. 
Huge, I know, but I think with some extra focus, it will be attainable.
   

Well, it's April and incredibly, we hit this goal.  I have no idea what to set as the next one.  I'd like to see at least another 50k over the rest of the year. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Bateaux on April 21, 2017, 09:19:40 PM
Looks like we'll have lots of company on the Race to 2M and Race to 3M threads soon!  Well done everyone.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on April 22, 2017, 09:51:17 PM
Been on a roll this year so I thought I'd update my numbers.  Decided to edit my tracking a little bit as well.



Date      Added YTD        Total Estimated          Added YTD     Total Actual   Percentage of YTD
              Estimated               Actual                                                                  Goal Reached               

Year End                            
2014                                   106,700                                         106,700   
2015         71,169               177,869                   96,768           203,468             135.97%
2016         81,272               259,141                   72,907           276,375               89.71%
2017         86,718               345,859                   41,625           318,000               48.00%
2018         97,862               443,721         
2019         104,419             548,140         
2020         122,086             670,226         
2021         130,265             800,491         
2022         149,663             950,154         
2023         159,690             1,109,844         
2024         181,060             1,290,904         


We are nearly half way through our 2017 goal already.  Hoping to keep up the momentum for the rest of the year.

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: facepalm on April 29, 2017, 10:35:13 AM
Been reading through all the posts on this thread. some great stories here.

A year and a half ago I was sitting on less than 24K, which included a paid off car. Could not stick to a budget. Have had a nagging worry about my retirement and having enough money for as long as I can remember. Never managed money well.

Mom passed away last year and something clicked. Started looking into investing, but kept my inheritance check in savings while I did my research. Discovered Bogleheads, jlcollinsnh, and MMM. Bogleheads kept me from making the mistake of putting my money into a managed account. Thank god. Since then I have done the MMM makeover, cut my spending, and put all my money to work into Vanguard funds.

Currently, I am maxing out my 403(b), My 457(b), and my Roth to the tune of 54.5K. Also have a state pension which can be taken as a lump sum should I separate from employment. I only recently (this week) found out about the lump sum. My savings rate is 80%, including the pension contribution and the employer match.

Jan-16   23,769
Jun-16   45,604
Dec-16   119,694
Apr-17   255,873

Goals:

Dec-17 300,000
Jun-19 400,000
Dec-21 500,000

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?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Abe on April 30, 2017, 07:42:01 PM

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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dogboyslim on May 01, 2017, 08:16:08 AM
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!

I don't take it the wrong way.  Working isn't that bad, and if I follow that path I'll still be retired at 55 with equal income to my high paying job.  I also want to do things like traveling with my wife, and that will be easier with kids out of the house, so even if I retired earlier, I'm not sure I'd get to take advantage of retirement until the kids get a bit older.  I often consider if I should quit now or scale back my hours, but my career is one where part-time is not really a thing, and once out it would be very difficult to get back in.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: boarder42 on May 01, 2017, 11:01:22 AM
Update. Hit 3.5 months early. Hopefully it always works that way and in 2.5 years we hit 1MM

8/11/16 - 378k - current
8/11/17 - 512k
5/1/2017 - 514k
5/1/18 - 665k
5/1/19 - 831k
5/1/20 - 1MM
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pennycounter on May 01, 2017, 01:33:09 PM
I love spreadsheets and tracking.  Our NW is exclusive of our primary residence value since we aren't planning to sell.

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. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Carrie on May 20, 2017, 09:33:02 AM
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. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: facepalm on May 20, 2017, 10:37:55 AM

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.

I ran the numbers again and discovered that if I work to 2024 I actually will see 4500 per month. I can definitely retire earlier, since I doubt I'll need that much per month and can always take SSI early if I really need the income. I now estimate the longest I need to stay on the job is 5 years, or 'till 2022 (age 62). At that point I'll have around $550K invested (which does not include pension funds), which I'll just let sit and grow.

I now have to find the sweet spot for pension withdrawals; the point in the timeline that gives me the most time and most money per month. I haven't attempted to put a value on my time yet; Once I do I may end up wanting to retire even earlier.

I'm now considering a side hustle--have a few ideas--that if even moderately successful will allow me to leave paid employment even earlier. When I started working toward FIRE i assumed I'd have to stick it out till age 70; but the longer I work at this the younger I will be when I actually do FIRE. 70-->68-->65-->62-->???
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: jane x on May 20, 2017, 12:58:24 PM
Are you guys including your home equity in your net worth figures?

How about pensions?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: facepalm on May 20, 2017, 01:25:26 PM
Are you guys including your home equity in your net worth figures?

How about pensions?

I don't include home equity (I rent). I do include my pension contribution but not my employer's portion. If I exit employment I can roll my contributions over into an IRA. The thing that sucks about California is that we cannot rollover our employers contributions; If we leave STRS they keep the money. Probably has something to do with that 71 billion unfunded liability. If I could roll both over I would retire in two years.

I do not include pension contributions in my long term goals/projections, as I'll probably end up taking the pension.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: CowboyAndIndian on May 20, 2017, 07:16:43 PM
Are you guys including your home equity in your net worth figures?

How about pensions?

We have had this conversation many times on this forum.

The net worth includes everything you own (including pensions) minus the debts. Yes, if the pension is guaranteed and you can estimate the amount you would be paid, there is a way to convert that income stream into a present value which you can add to your net worth.

The FIRE amount, may not include things like your house which does not provide any amount to your income stream.

If you are trying to see if you are ready to FIRE, you want your income generating assets (rentals, 401k, investments, pensions) to meet the 4% rule. Do not use your net worth for this

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Carrie on May 21, 2017, 11:22:52 AM
I use the current cash value of the pension, for example if we rolled it over, it is worth $25,000 (that's the number I use). If we wait for 20 years and start to draw it, I'm not totally sure of the pay out. I guess if I knew that number I'd do the formula as pp poster says.
I include home equity in networth, because it is a part of networth. I do not use home equity in fire calculation - I only use invested assets, as we will always need a place to live.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: MoneyRx on May 21, 2017, 06:07:28 PM
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. =)

Ended 2016 with 95k and keeping the same FIRE date for now, came up with new projections that should be more accurate:
Today: 136k (as of 5/1/17)
End of:
2015: 47k (actual)
2016: 95k (actual)
2017: 163k
2018: 233k
2019: 330k
2020: 423k
2021: 522k
2022: 629k
2023: 743k
2024: 866k
2025: 998k (FIRE)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: skip207 on May 22, 2017, 05:55:13 AM
What kind of NW growth PA do people use on their calculations? 

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?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Zaga on May 22, 2017, 04:09:24 PM
What kind of NW growth PA do people use on their calculations? 

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?
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: skip207 on May 23, 2017, 03:35:11 PM
Ok similar to me maybe then as I do 0% on savings and pensions and investments but 5% on property.
I guess once I clear 750k I can start planning things a bit more.  I want the gap between FI and RE as small as possible you see!
I would like at least a year to plan retirement as it will involve closing my business etc.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: beege on June 19, 2017, 09:21:36 AM
That was quick. Another year went by. I got my google calendar notification so I'm back. Stock market has been on a tear lately so I surpassed my (conservative) goal. Fire # is getting more concrete now. Targeting 1.2 million. I really suck at estimating I've decided. I've now over-estimated and underestimated two years running. The stache is getting a life of its own.

DateGoalActual
June 2014394K
June 2015550K547K
June 2016750K692K
June 2017842K929K
June 20181107K
Dec 20181200KFire
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 19, 2017, 09:56:23 AM
That was quick. Another year went by.

Wow, you went from slight underestimate (-3k) to way under (-58k), which is a bummer, and then you not only, in that one year, caught up that -58 you were behind your projection, you rocketed past that to be +87k past your goal.  What a phenomenal year for your NW (+237k in one year). Phenomenal!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: beege on June 19, 2017, 05:43:54 PM
Yup. Not very good at estimating :) Though if I recall correctly from your earlier posts in this thread neither were you :-P

Anyways we've got a trumped up stock market which is making things look rosier than expected. We'll see how long it lasts /shrug
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on June 19, 2017, 05:52:08 PM
Yup. Not very good at estimating :) Though if I recall correctly from your earlier posts in this thread neither were you :-P

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

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

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

There will definitely be a crash at some point. Who knows when.  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Zaga on June 19, 2017, 06:39:47 PM
Yup. Not very good at estimating :) Though if I recall correctly from your earlier posts in this thread neither were you :-P

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

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

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

There will definitely be a crash at some point. Who knows when.  :)
Well *I'm* certainly not going to try and guess!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FrugalFisherman10 on June 21, 2017, 01:33:34 PM
Ok I want to get in on this too. ARS I like how you laid out the 'goal/underrun format' I'll call it.

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

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

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

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

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

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

anyway, it's good to put it out there. And to start thinking about how I can make up that $28k per year gap.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: webguy on July 03, 2017, 09:27:13 PM
I want to join in and set myself some public goals so that I'm held accountable.  My goals are:

Current NW:  $420k
Jan 1 2016:  $650k
Jan 1 2017:  $950k
Jan 1 2018:  $1.1M

I need to update my goals!

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

Jan 1 2017:  $1.26M

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

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

Current NW:  $1.535M
Jan 1 2018:  $1.75M
Jan 1 2019:  $2.2M
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Dicey on July 04, 2017, 08:00:11 AM
Ok I want to get in on this too. ARS I like how you laid out the 'goal/underrun format' I'll call it.

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

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

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

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

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

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

anyway, it's good to put it out there. And to start thinking about how I can make up that $28k per year gap.
That's the beauty of compound interest. It  will do the heavy lifting for you. Keep doing what you're doing and eventually your investments will out earn you. The "gap" will take care of itself. You're off to an excellent start,
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: skip207 on July 11, 2017, 01:33:34 PM
Revised our plans over the last 6 months and also added some growth.  All my previous numbers have been based on 0% (i.e tracking inflation).  Now I am using 2% (over inflation).

This has taken some years off our FIRE date. 

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

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: SwordGuy on July 12, 2017, 05:38:50 AM
Ran across this posting of mine on this thread from quite a few years back and thought I would give an update:

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

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

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

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

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

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

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

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

New estimates:
2017: $2,030,000
2018: $2,200,000 Assumes wife retires at 70, we finish the house we're slow-flipping, and I retire at 60, 2 years ahead of schedule.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Goldy on July 12, 2017, 11:17:47 AM
I'll play

Current NW $1.4

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

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

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: chaskavitch on July 12, 2017, 01:49:43 PM
I have a giant spreadsheet of theoretical future salary increases and retirement account goals already, but I update the values to reflect actual account values at the end of the year, so I don't have a record of what I thought we would have anymore. 

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

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

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

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

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

We'd also like to buy a house with more property and further out of town, and either rent this one out or sell it, so we're (very slowly) saving toward a down payment for that.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: facepalm on July 16, 2017, 10:57:56 AM
Goals:

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

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


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

Fixed it for ya. :-}
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on July 18, 2017, 08:24:42 AM
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.

I'm not sure where I came up with those previous goals.  Here is my current prediction:

Current NW:  $480,507
January 2016: $570,000
January 2017: $670,000
January 2018: $779,000
July 2018:  $840,000 (and hopefully retirement, as I will hopefully have over $523K free and clear)

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

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

I am currently at $612K.  Should be able to reach $630K well before January 2017.

My NW (including house) is now $742,946.  On track to hit my (original) goal of $840K in July 2018, when I will retire.  It's beginning to feel real...and scary...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on November 17, 2017, 03:54:39 AM
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.

I'm not sure where I came up with those previous goals.  Here is my current prediction:

Current NW:  $480,507
January 2016: $570,000
January 2017: $670,000
January 2018: $779,000
July 2018:  $840,000 (and hopefully retirement, as I will hopefully have over $523K free and clear)

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

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

I am currently at $612K.  Should be able to reach $630K well before January 2017.

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

Now at $803,225...
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: lexde on November 17, 2017, 05:14:49 AM
My net worth is -$2500 right now. Goal is to be debt free by 12/31/18 which is another 32.5k on my 65k salary (about 48k take home).

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

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

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

Stretch goal for 2018 is debt-free by the end of August.
Stretch goal for 2019 is 6-figure income.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: marty998 on November 17, 2017, 03:06:41 PM
Ok I'll play

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


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

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


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

Starting to notice the dividends compounding too which is great. Hard to know what the new goals should be, so much is determined by markets now instead of savings.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Dicey on November 18, 2017, 12:38:31 AM
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.

I'm not sure where I came up with those previous goals.  Here is my current prediction:

Current NW:  $480,507
January 2016: $570,000
January 2017: $670,000
January 2018: $779,000
July 2018:  $840,000 (and hopefully retirement, as I will hopefully have over $523K free and clear)

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

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

I am currently at $612K.  Should be able to reach $630K well before January 2017.

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


Now at $803,225.
..
When are you going to pull the trigger? Come on in, the water's fine!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Apple_Tango on November 18, 2017, 01:22:49 AM
I wanna play... I have spreadsheets galore already but why not!? plus I think it will be quite easy to predict Jan 2018 since it's right around the corner...crossing my fingers for big bucks and no whammies! These are stretch goals so I wouldn't be surprised if I come up a little short.

Current NW Nov 2017: -16,980

Jan 2018: -9,000
Jan 2019: 40,119
Jan 2020: 90,465
Jan 2021: 142,406
Jan 2022: 230,776
Jan 2023: 333,859
Jan 2024: 430,548
Jan 2025: 580,185
Dec 2026: 750,000 (FIRE GOAL)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: SnackDog on November 18, 2017, 02:16:37 AM
These goals are not very actionable for us. As our spending is pretty constant, all I can do to boost net worth is work harder (and/or more years) and play games with stocks.  I already work hard enough and have burned my fingers a few times on stocks.  So, basically net worth increases for us will be fairly passive - if real estate and stock investments gain so will we. If they crash, we crash. (Like everyone else we are greedily awaiting the Big Crash to sell some bonds but something tells me it will be different next time.)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: matchewed on November 18, 2017, 04:16:50 AM
Current Net Worth $150k

$200k by beginning of 2015

$300k by mid 2017

$400k by mid 2019

and FI($500k) by early 2021

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

Well a four year update is interesting. Lots happened between then and now. Current net worth with house = $285k. So I'm behind on the original plan but there was a gap of no income in the middle with school and now our (was only my) income is much higher and diversified. So I'd still say we're on track even if it looks as we're behind as our savings rate is much higher as an us than as a me.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: arebelspy on November 18, 2017, 07:08:37 AM
These goals are not very actionable for us. As our spending is pretty constant, all I can do to boost net worth is work harder (and/or more years) and play games with stocks.  I already work hard enough and have burned my fingers a few times on stocks.  So, basically net worth increases for us will be fairly passive - if real estate and stock investments gain so will we. If they crash, we crash. (Like everyone else we are greedily awaiting the Big Crash to sell some bonds but something tells me it will be different next time.)

More like projected milestones than goals, then. :)

Current Net Worth $150k

$200k by beginning of 2015

$300k by mid 2017

$400k by mid 2019

and FI($500k) by early 2021

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

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

Nice!  I'd much rather be a bit behind, with large expected growth and upward trends,, than ahead but with slow expected growth or a flattening trend. :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on November 18, 2017, 07:10:31 AM
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.

I'm not sure where I came up with those previous goals.  Here is my current prediction:

Current NW:  $480,507
January 2016: $570,000
January 2017: $670,000
January 2018: $779,000
July 2018:  $840,000 (and hopefully retirement, as I will hopefully have over $523K free and clear)

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

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

I am currently at $612K.  Should be able to reach $630K well before January 2017.

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


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

Soon!!!  :)

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

One more semester.......  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: matchewed on November 18, 2017, 07:41:55 AM

Current Net Worth $150k

$200k by beginning of 2015

$300k by mid 2017

$400k by mid 2019

and FI($500k) by early 2021

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

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

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

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

It all makes the OMY syndrome seem strange (stranger is probably more accurate) to me. Barring the market just tanking I'm definitely pressing the FIRE button on reaching the goal.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Hirondelle on November 18, 2017, 07:43:18 AM
Current net worth: EUR 12,500

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

Nov 2018: 25k
Nov 2019: 38k
Nov 2020: 52k
Nov 2021 (end of contract): 66k
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: 2Birds1Stone on November 18, 2017, 11:00:55 AM
Late to the party but here are my annual goals to FIRE

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

Funny to look back on this almost 3 years later.

Things have definitely moved along faster than I had anticipated. At my current projection I will hit $1 Million sometime in 2026.......but I don't even have a goal to hit $1 Million any more. Taking a sabbatical in spring of 2020 and after that I am unsure in what capacity I will be returning to the workforce. Once I accumulate ~$650-750k I will be semi FIRE'd or FI and slow traveling.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: ZiziPB on November 22, 2017, 03:58:19 PM
I want to retire in 5 years at the age of 50.  I just pulled out my calculator and added it all up.  Current net worth is $632,000 (assuming restricted stock will vest as scheduled over next 3 years).  This includes equity in my current home (which I will sell at retirement) and my retirement apartment.

One year update, using the same methodology.
It has been a great year both in terms of my compensation and market gains. 

August 2013: ~$632,000
August 2014: ~$897,000

for an increase of $265,000, of which ~$161,500 were savings (including mortgage principal paydown and 401k match) and the rest being market gains.

ETA: I have assumed that the value of my current home and my retirement apartment have not changed from last year.

Year 2 update, using the same methodology:

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

for an increase of $199,000.  Not as impressive as last year primarily due to changing my asset allocation to 60/40 and the market basically going sideways over the last year or so.  I have also reduced the value of my condo in the calculation because the prices have gone down since last year (the condo will be sold at retirement).

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

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

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

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

FIRE goal is still April 1, 2018, but I seem to be about 18 months ahead of schedule on my NW and investment portfolio goals. I guess my goals were pretty conservative...
$1,507,000 total NW
Investment portfolio is ~$1,380,000 currently.  Well in excess of my original goal.  At this point the market could drop 20% tomorrow and I'd still be fine.  Amazing!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Ottawa on December 13, 2017, 06:15:50 AM
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: afuera on December 13, 2017, 07:36:47 AM
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

Congratulations!  Are y'all any closer to FIRE or are you still weaning?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pennycounter on December 13, 2017, 07:52:32 AM
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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pooperman on December 13, 2017, 08:05:29 AM
Jan 1 2015 (25 years old): 25k
Jan 1 2016 (26 years old): 65k
Jan 1 2017 (27 years old): 100k
Jan 1 2020 (30 years old): 300k
Jan 1 2025 (35 years old): 1M
Jan 1 2030 (40 years old): 2M

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

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

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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Ottawa on December 13, 2017, 09:37:46 AM
Congratulations!  Are y'all any closer to FIRE or are you still weaning?

Shooting for June 2018! 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Slow&Steady on December 13, 2017, 10:37:36 AM
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

 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: monarda on December 14, 2017, 08:21:20 AM
Only just saw this thread...

I've included all accounts ($120K), plus equity in real estate investments ($410K), and primary residence ($90K)

Some goals considering only conservative growth, rental income, principal payments to mortgages, small amount of additional savings.  I will likely save more to add to these numbers, but my job outlook is hazy for 2015, so not counting on being able to save much (but maybe I won't worry about it)

2014  $620K
2016  $750K
2018  $900K

1M by 2020 (age 60), preferably sooner.

Adjusting these values based on Zillow numbers (instead of my own guesstimates) and reducing expectations further due to lack of current employment (other than rental income)

current cash (140K)  rental equity ($410K)  primary residence equity ($103K)

2015 $653K
2016 $700K
2018 $800K

still could go for $1M by 2020, but it's more of a stretch now

Switching to January updates, and factoring in new job

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

   
      End of 2016      $829K  (cash about $200K)    Zillow values went way up, so this could be overestimating by 20-40K
let's boost 2017      $875K-$900K
                2018      $1M

2017 went as predicted:

12/1/17  $903K   ($208K is cash- we are putting an addition on our house, so a lot of liquid cash going to that and $30K of temporary credit card debt (0% interest) included in that)

end of 2018  $1M
end of 2020  $1.15M
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Pennycounter on December 14, 2017, 10:51:48 AM
I love spreadsheets and tracking.  Our NW is exclusive of our primary residence value since we aren't planning to sell.

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.
2016 -- $518K (actual)
2017 -- $710K
2018 -- $850K
2019 -- $1.0M
2020 -- $1.2M
2025 -- $1.6 MM
2030 -- $1.5 MM (Full FI, me 52, DH 59, DD #1 graduates HS)

These are my stretch goals! We've switched roles and I am working while my husband stays home with the kiddos. I don't include home equity as we don't plan to move and still have a mortgage. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: bridget on December 29, 2017, 10:32:04 AM
New on the thread! A lot of factors are very up in the air for me (will I stay at my job more than 2 years? Will I collect all bonuses? Will husband get a job, if so which one?). So I've only set a goal for 2017.

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

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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: nawhite on December 29, 2017, 12:53:45 PM

...

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
...
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: $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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Carrie on December 29, 2017, 10:29:54 PM
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.

So close. We're closing out the year at $930k. I'm really quite stunned.

Next up
$1 million net worth by 2018 YE
$1 million excluding home value by 2019 YE which puts us at FI
2020, building the cushion for unknown medical costs and raising of teenagers,
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on December 30, 2017, 09:05:30 AM
These are guesses, but here goes:

NW July 2014:  $404,000
NW July 2015:  $465,000
NW July 2016:  $535,000
NW July 2017:  $615,000
NW July 2018:  $705,000
NW July 2019:  $805,000

I am confident of only the 1st number.  :)

As of tonight, my NW is $473,000, so I have surpassed my goal/guess for July 2015.  I will come back and post revised guesses for future NW values.

I'm not sure where I came up with those previous goals.  Here is my current prediction:

Current NW:  $480,507
January 2016: $570,000
January 2017: $670,000
January 2018: $779,000
July 2018:  $840,000 (and hopefully retirement, as I will hopefully have over $523K free and clear)

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

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

I am currently at $612K.  Should be able to reach $630K well before January 2017.

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

Now at $803,225...

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.  ;-)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Cookie78 on December 30, 2017, 04:48:47 PM
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 the Jan 2018 goal, which indicates to me that the goal wasn't really as challenging as I'd expected it would be, since I only worked 7 months of the past year!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Mazzinator on December 31, 2017, 07:38:24 AM
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

1/1/2015: $55k
1/1/2016: $105k
1/1/2017: $160k
1/1/2018: $220k
1/1/2019: $280k
1/1/2020: $350k (husband will retire from active duty military in 2020 or 2021)

1/1/2016: $89K

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

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

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

Sooooo close...

1/2/17 NW = $156,358
Yay! I finally hit my goal, and then some!!! Yay!!
1/1/18 NW = $237k
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: dreams_and_discoveries on December 31, 2017, 08:00:44 AM
I'm very impressed with all these targets, although I've been monitoring my NW for a few years, this is the first time I've actually set myself targets. He we go...

End 2015 actual 393,000

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

I've got 550k for end of 2016, a good 50k above target (although lots of this is due to the devaluing of the pound)

2016 target is now increased to 670k.

Framing is important right?

After such a poor forecast in 2016 - with the actual 50k above forcast, my forecasting skills have improved with 2017, which is now only 6k above target.  Must do better in 2018.

I'll aim for 790k.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: chaskavitch on January 02, 2018, 07:07:12 AM
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.

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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: afuera on January 02, 2018, 11:14:56 AM
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)

Didn't quite hit our target.  Our home flooded so I updated the value based on the rule of thumb that you lose 20% of the home value since nobody wants to buy a house that's a flood risk.  We should be able to still hit our targets though if we earn a little extra income.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Goldy on January 02, 2018, 05:36:17 PM
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

Well I beat my 2017 goal by a whopping 117k and am nearly half way to finishing my goal for 2018. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Bateaux on January 02, 2018, 07:39:51 PM
Old goal of 1.5M invested, blasted past in 2016.  Reset goal of 2.0M invested and getting close at 1.9M.  New goal set at 2.5M.   We'll see what the markets bring.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: webguy on January 02, 2018, 08:14:08 PM
I want to join in and set myself some public goals so that I'm held accountable.  My goals are:

Current NW:  $420k
Jan 1 2016:  $650k
Jan 1 2017:  $950k
Jan 1 2018:  $1.1M

I need to update my goals!

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

Jan 1 2017:  $1.26M

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

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

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

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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Slow&Steady on January 03, 2018, 08:31:29 AM
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Vilgan on January 08, 2018, 09:42:56 AM
Fun thread idea, will have to remember to come back to update in the future.

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

Goals:

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

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

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

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

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

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

2018 net worth is just over 550k. This was mostly due to a great year in the stock market and property appreciation, my saving was a lot lower than expected. I took a ton more time off in 2017, turns out it is harder to work a lot of hours when I have quite a bit saved already.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: boarder42 on January 08, 2018, 10:49:08 AM
wow great work everyone beating their goals.  this bull market is helping everyone expedite their time to goals.  We're only a few weeks away from hitting our original aug 2018 goal if the markets are flat to up!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: boarder42 on January 12, 2018, 04:11:14 AM

8/11/16 - 378k - current
8/11/17 - 512k
5/1/2017 - 514k
5/1/18 - 665k
1/12/18 - 669k
1/12/19 - 831k
1/12/20 - 1MM

With the bull market everything moves up a bit. Now we're 8 months ahead of schedule.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Wile E. Coyote on January 12, 2018, 03:57:11 PM
The goals that I have in my current model are:

2014 $1.34M
2015 $1.56M
2016 $1.81M
2017 $2.09M
2018 $2.38M
2019 $2.71M
2020 $3.08M

Stretch goal is to move that $3.08M closer by a few years.

Has it been 6 months already?  Pretty much on track.

Updated goal numbers:

2014 $1.36M (actual)
2015 $1.59M
2016 $1.84M
2017 $2.12M
2018 $2.44M
2019 $2.79M
2020 $3.17M

Another year in the books.

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


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

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

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

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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: facepalm on January 13, 2018, 06:05:26 PM
Having hit 300K early, my goal this year will be to hit 400K. In fact, I think that will be my long term goal now; an increase of 100K per year.

I don't have a goal yet for the year of retirement. I want to have a 50K/year pension plus at least 600K in the bank. Luckily, I enjoy my job and would probably volunteer there if I was not actually working.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Off the Wheel on January 13, 2018, 06:37:41 PM
Looking back at my NW gains feels crazy, but since so much of it is tied up in real estate and I don't have an immediate out from this very HCOL area it all seems a bit... moot? My FIRE calculation is $1.25M, and we're only at 18% to that. NW including real restate would make it 69% to goal... but then where do I live? :(

If this real estate "bubble" doesn't burst, maybe I'll sell both properties in a couple of years and realize that dream of living in a cabin in the woods.

Regardless, for the sake of this thread and my current life = net worth goal will be $1M by 2019.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: frugalfanny on February 25, 2018, 02:20:24 PM
Update:

January 2015: $11k actual
January 2016: $27k actual
January 2017: $45k $58k actual
January 2018: $62k $80k $100k actual
January 2019: 125k
January 2023: $177k $200k $218k
January 2028: $280k $313k $335k
January 2039: $591k

I have a tendency to low ball my estimates. Hoping to being wrong again this year. : )
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: FIreDrill on May 28, 2018, 12:02:15 PM
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             
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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: SwordGuy on May 28, 2018, 01:09:40 PM
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.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Bro-mero on May 28, 2018, 10:14:29 PM
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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: tomsang on May 29, 2018, 10:25:01 AM
Quote 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?   

Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: SwordGuy on May 29, 2018, 03:24:52 PM
Quote 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?   
s

@tomsang ,

Those are all good points.

I live in a major military town.  We get big recessions when pretty much everyone gets shipped overseas to some God-forsaken country to get shot at.  Otherwise, it's pretty steady as she goes.

We have  a four legged stool for our income.   Rental income, Farm income, Social Security, and Stocks/Bonds.    Any one of them could completely disappear and we would have our planned expenses covered.    So I'm not too worried, because if I'm not pulling out stocks in all the good and so-so years, it's not such a big deal to pull out stocks in a bad year.  :)


Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Setake on May 29, 2018, 06:22:18 PM
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..
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Bro-mero on May 29, 2018, 07:59:49 PM
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..

Always good to have a somewhat lofty goal, and then even if you don't quite get there, you still make some damn good progress! 200K at age 27 is really good already! Keep fighting the good fight
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: skip207 on June 02, 2018, 02:44:51 AM
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!

You need to stache about $75k YOY minimum.  Probably a bit more.
Totally possible I guess depends on your income and outgoings I guess.

I am aiming for similar goal by 42.  I started about 32 ish so about 10 years time frame.  I am currently at 500k. 
 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Slow&Steady on June 06, 2018, 03:06:16 PM
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!
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on June 06, 2018, 05:01:46 PM
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.  :)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: 2Birds1Stone on June 06, 2018, 07:28:06 PM
My new long term net worth goal is $0.....that's right $0
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: beege on June 21, 2018, 08:57:10 PM
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

DateGoalActual
June 2014394K
June 2015550K547K
June 2016750K692K
June 2017842K929K
June 20181107K1182K
Dec 20181300KPart-time / fire?
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: haypug16 on June 22, 2018, 08:41:09 AM
I'll play along. I love long term goals. Here's my Net-worth Goals over the next 12 1/2 years;

Year                    Goal/Actual
December 2017 - $(24,424.13)/$(24,424.13) (starting point)
December 2018 - $10,000/$(6,616.21)(Current Net-Worth)
December 2019 - $52,000/
December 2020 - $100,000/
December 2021 - $154,000/
December 2022-  $208,000/
December 2023 - $262,000/
December 2024 - $316,000/
December 2025 - $373,000/
December 2026 - $433,000/
December 2027 - $496,000/
December 2028 - $562,000/ (stretch FIRE goal)
December 2029 - $631,000/
December 2030 - $697,000/ (FIRE goal)

I have a feeling I'll be tweaking these goals over the years but it's how things are looking right now. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: steveo on July 01, 2018, 03:36:53 AM
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.

This is pretty cool because I haven't looked at this in a while.

My plan is still basically the same and we are tracking pretty close to the initial idea.

We have approximately 270k  outside of super now so we should make 300k by the end of the year. I think now we want to get to about 500k and then work less for a year or two past that point then we retire.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Civex on July 05, 2018, 08:07:04 AM
Hopefully will increase our chances of hitting our goal if they are written-

Net worth
June 2014 ($160k)
June 2018 $260k
June 2023 $1M

Portfolio
June 2014 $3k
June 2018 $315k
June 2023 $1M


Our NW grows on autopilot at about $6k/month between contributions and debt pay down; so it's possible we will hit our goals, but a big part depends on what the market does in the next 5 years.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: NinetyFour on July 07, 2018, 04:50:25 PM
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.  :)

Now officially retired (wow) and just waiting on ONE more paycheck.

Cash + Investments: $800K

Free and Clear (if I had to pay off my mortgage now):  $624K

Net Worth:  $997K  (so close......!!)
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: politenessman on July 07, 2018, 05:17:26 PM
This is something I can play along with.
DW and I have a net worth of about $400k at the moment

401ks       $337,000
IRAs         $  59,000
Savings    $    7,000 for a total of $403,000

We don't own much in the way of property so its just based on our financial assets
My wife's assets are the bulk of this.
If I break out my own assets:

401ks       $ 68,000
IRAs         $   9,200
Savings    $      500 for a total of $77,700

At the same time I am paying down a debt of (currently) $12,260 at a rate of about $1300 biweekly.
I have two goals:

1. My own net worth to be $100k by Dec 31st
2. Our combined net worth to be $500k by Dec 31st 2019

To achieve #1, I have to add $22,300 to my pile.
I have 13 more pay periods to the end of the year and plan to keep funding my 401k which should add ~ $13,000
I can save ~$1500 per pay period = $19,500 but I have to also pay off the car loan @ $12,260 leaving me with $7240.
This puts me ~$2,000 short of the $100k


To achieve #2, the wife and I have to save another $100k over the next 18 months. I think we can do it...
This is a total of 26+13 pay periods * ~$1000 each into 401ks per period = $78,000
After Dec 31st I should be able to save ~$1500 per pay period @ 26 periods = $39,000
That is a total of $117,000 ... so in theory I should be able to blow this goal away, but lets see if we can do that.
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: Raymond Reddington on July 08, 2018, 03:45:53 PM
I'm 32. We have net possessions around 1M.

I have just shy of 60K in investments, primarily stocks and REITs.
Approx 54K in my 457 at work.
Approx 22K in my Traditional and Roth IRA accounts. Most of that is Roth, but a small piece (about 5%) has to be converted to Roth next year to complete things.
Approx 60K in cash and CDs (I know, I know, this is too high...been working on upping the investments and dropping this number all year)
About 1K in savings bonds, which will all mature in the next 4 years and be reallocated somewhere else.

My wife has 750K in investments, primarily through inheritance, and 120K in a retirement account at her job. She has very little on hand in cash and cash accounts (a couple K at most).

We have approximately 120K equity in our house, though the value minus the mortgage might well be higher, but I am strictly going off the purchase price of the house and how much has been paid as we have no intention of selling anytime in the near future.

My goals at this point are
-To continue upping my contribution to the 457 at work, as well as see if retro pay puts me over the limit, if I can open a 401k at work to contribute the excess there and avoid penalties.
-To continue making the same level of contributions I have been to my own investment accounts, as well as more extra, to make up for years I didn't contribute as much as I should have.
-To reach 100K in the investment account by EOY 2020.
-In years where we don't hit the cap, to contribute 5500 a year into my Roth IRA. In years where we do, to contribute 5500 a year into my Traditional IRA nondeductible, and later roll it into my Roth account.
-To consistently reinvest all dividends in the investment account and pay taxes out of earnings.
-To reduce the number of meals I eat out at work significantly, bringing things like sandwiches more
-To continue to seek out rewards programs or better deals that will give me better benefits for continuing to lead the same (or an improved) lifestyle as I am now, without spending more.
-To continue to pay off my mortgage early up to the point where the amortization schedule shows me it will be paid off by age 50, as that will eliminate my biggest expense in retirement. (Right now it's down to age 58 from 60).
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: bridget on July 14, 2018, 12:50:56 PM
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.

Mid-year update:  Now at $522k.  I think by the end of 2018, I'll land somewhere in between $600-650k.  Husband did not make it even to January before he quit his job.  :)  He does freelance stuff here and there, but it's not a significant part of our household income.  Unclear whether he will start another regular job sometime this year or not, but I did get an un-asked for raise and unanticipated mid-year bonus.  Since we saved $122k the first seven and a half months of the year, we should be able to do at least another 80k+ before the end of the year hits. 
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: webguy on August 01, 2018, 08:22:32 AM
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 instead 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
Title: Re: Gauntlet: Long Term Net Worth Goals
Post by: SwordGuy on August 01, 2018, 07:10:08 PM
My new long term net worth goal is $0.....that's right $0

As in, "You can't take it with you!"