Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 167622 times)

SwordGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #450 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.

Bro-mero

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #451 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!
« Last Edit: May 28, 2018, 10:17:05 PM by Bro-mero »

tomsang

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #452 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?   


SwordGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #453 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.  :)


« Last Edit: May 29, 2018, 03:29:03 PM by SwordGuy »

Setake

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #454 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..

Bro-mero

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #455 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

skip207

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #456 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. 
 

Slow&Steady

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #457 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!

NinetyFour

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #458 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.  :)

2Birds1Stone

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #459 on: June 06, 2018, 07:28:06 PM »
My new long term net worth goal is $0.....that's right $0

beege

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #460 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?

haypug16

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #461 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. 

steveo

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #462 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.
« Last Edit: July 01, 2018, 03:39:00 AM by steveo »

Civex

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #463 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.

NinetyFour

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #464 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......!!)

politenessman

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #465 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.

Raymond Reddington

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #466 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).

bridget

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #467 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. 

webguy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #468 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
« Last Edit: August 01, 2018, 08:34:35 AM by webguy »

SwordGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #469 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!"


longtry

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #470 on: August 27, 2018, 07:42:44 AM »
OK I'll play along too. Mine are:
- August 2019: 106.7k
- Aug 2020: 209.6k
- Aug2021: 411.7k
- Aug22: 808.7k
- 2k23: 1.6m
- 24: 3.1m
- 25: 6.1m
- 26: 12m
- 27: 23.65m
- 28: 46.4m
Though, in the long term, my goal lines up with 2Birds1Stone, around $0.

rothnroll

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #471 on: August 29, 2018, 10:52:46 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.
Ok update

Year 1 8/03/2016: 405K (actual)
Year 2 8/03/2017: 500K predicted (493k actual)
Year 3 8/03/2018: 625k predicted (621k actual)
Year 4 8/03/2019: 800K predicted
Year 5 08/03/2020 900k predicted
Just updated it for year 3 and added year 5.
I am staying on target. I am also aided by a healthy stock market. A major dip sure could obliterate these numbers. However, it won't effect my savings rate!

onlykelsey

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #472 on: August 30, 2018, 07:14:47 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
Looking back at this now, I blew through both of these goals.

December 2016: $470,000, +46% 511K, +59%
June 2017: $550,000, ~+40% annually 603K, +54%

I am musing on what my next goal will be, especially with a potential divorce on the horizon...

OurTown

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #473 on: August 31, 2018, 11:49:57 AM »
OMG, divorce really sucks.  I should know I've been there.  Twice.

Slow&Steady

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #474 on: September 04, 2018, 09:34:22 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

Mid 2018 update: Calculations show that if we have a flat rest of the year I should be right around $118k.  I will admit that I made these guesses before I got a new job with a 30(ish)% raise and assuming DH's business would be about equal to 2017.  In the 1st 5 months of 2018 he has made almost 80% of what he made in all 12 months of 2017, hopefully he will be able to keep up that pace the rest of the year!

We are at 118k right now, looks like that stretch shouldn't be to much of a stretch (assuming the market doesn't tank).

muckety_muck

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #475 on: December 03, 2018, 08:56:04 PM »
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)

well- 2018 is coming to a close, and we are at 1.5M right now. At year end 12/31/2017, we were at $1.37M. Life is good. But so busy. Still worried that we might not make it to $2M by 2022. Hoping not to have to get into rentals/landlording. Wish childcare costs were lower, wish homeowners insurance and property tax were lower.

2Birds1Stone

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #476 on: December 04, 2018, 06:36:06 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.

Super fun to see this thread bumped annually =)

I'm already 3 years ahead of the of these projections! Still on track for that 2020 sabbatical, and definitely continue to plan on leaving the workforce permanently once I get to that $650-750k range.

philli14

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #477 on: December 04, 2018, 01:45:53 PM »
I'm in!

Goals will be for the end of each calendar year... I'm projected to be at about 65k by the end of 2018.

2019 100k @ 26yo
2020 150k
2021 200k
2022 275k
2023 350k @ 30yo
2024 450k
2025 550k
2026 650k
2027 750k - Anticipated FI date for 30k/year spend
2028 850k - @ 35yo
2029 1000k - Anticipated FI date for 40k/year spend, when I will likely FI

Hirondelle

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #478 on: December 07, 2018, 04:32:08 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: 25k29k
Nov 2019: 38k
Nov 2020: 52k
Nov 2021 (end of contract): 66k

Fun to do an update on this one! When I checked end of last month I was at 29k, so a good 4k over the initial goal and on track to reach my initial 'stretch goal' of 30k by the end of the year. Also expecting a small windfall in the next month. Projection using my current savings rate/pay raise scheme:
Nov 2018: 29k
Nov 2019: 55k
Nov 2020: 75k
Nov 2021 (end of contract): 98k

This shows how saving only Ä200/month more really does make a huge difference. Ultimate goal would be to reach that 100k :)
« Last Edit: March 22, 2019, 02:18:19 PM by Hirondelle »

Cezil

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #479 on: December 07, 2018, 07:58:23 AM »
This seems challenging, so Iíll happily contribute my goals.  A note to my future self:  I looked at my calculations and then others here, and I think Iím being very conservative.  The way I figure it, you canít time the market and I see/hear predictions for a flat next 5-10 years, and since Iím only 31, I havenít really lived while heavily investing during a flat market as I only got serious about this in 2014 (and I paid off debts during that time).  So I chose a 5% return/year in my non-expert guess.  Iím not including the house or the car.  I have my 401k (contributions are set to 7.5 times what the company matches), my HSA (maxed 2 years in a row now, good for you!), my Roth IRA, my brokerage account, and a teeny pension that my job provides when Iím 67 (or older if they move the date back).  Of course everything is maxed for calculation purposes, but that may not be reality for the next few years, but these are stretch goals and not entirely based upon reality.  I know youíll understand the thought process, and Iím very curious to see what you think in 5 or 10 years or more time.  I hope you've found prosperity and joy in your ventures.  :)

End 2019 - $100,000
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)

skip207

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #480 on: December 09, 2018, 02:37:42 PM »
Realistic targets for me:
2020-500k
2025-750k
2030-1m FIRE!

2 year update
Dec 18. 555k

Targets
Dec 19. 620k
Dec 20. 700k
Dec 21. 780k
Dec 22. 850k

Fire target 850k

SnackDog

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #481 on: December 09, 2018, 05:46:52 PM »
I guess everyone is assuming the market will be flat the rest of December?  Otherwise, why calculate 2018 results now?

nawhite

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #482 on: December 31, 2018, 07:54:16 AM »

...

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

We got the house sold but it cost more than expected to do that ($20k in asbestos mitigation) combined with this terrible December means I'm nowhere close this year but still above the goals I set in 2016. I knew this big run of every year doing way better than the goal was going to end eventually but progress is still definitely being made. Fortunately we were able to take the house money and just finish paying off all of the student loans way ahead of schedule. I usually am in the "keep investing over paying down low interest debt" camp, but it was variable interest rate debt and interest rates were going up and it was just a lot of mental energy to deal with every month so I just made it go away and feel better for it.

Re-edited the actuals to match the spreadsheet I have that adds in "Savings and Checking" now that that emergency fund is not inconsequential and I think I'll be setting my goals back to the 2016 goals.

Jan 2014 Actual: $13k NW, $99k non-mortgage debt
Jan 2015 Actual: $101k NW, $69k debt
Jan 2016 Actual: $218k NW, $58k debt
Jan 2017 Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Goal: $500k NW
Jan 2021: Goal: $600k NW
Jan 2022: Goal: $725k NW
Jan 2023: Goal: $850k NW
Jan 2024: Goal: $1M NW

Slow&Steady

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #483 on: December 31, 2018, 08:19:16 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

Mid 2018 update: Calculations show that if we have a flat rest of the year I should be right around $118k.  I will admit that I made these guesses before I got a new job with a 30(ish)% raise and assuming DH's business would be about equal to 2017.  In the 1st 5 months of 2018 he has made almost 80% of what he made in all 12 months of 2017, hopefully he will be able to keep up that pace the rest of the year!

We are at 118k right now, looks like that stretch shouldn't be to much of a stretch (assuming the market doesn't tank).

Well, I was wrong... very wrong.  We contributed more than the difference but the market doesn't care.  With this update my spreadsheet is showing that $140k by end of 2019 would be a stretch but, I guess we will see what happens.

End of Year: Goal / Actual
Dec-17: $90K / $97,451
Dec-18: $115K-$120K /$106,959
Dec-19: $140K-$175K
Dec-20: $200K-$250K
Dec-25: $400K-$500K

Abe

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #484 on: December 31, 2018, 08:04:20 PM »
We have a goal of saving $100k per year for the next 5 years, then up that to $220k per year once my residency is finished. We should be able to retire 5 years after that, but probably won't (I spent too much time training to be my own boss for only 5 years!).

Blast from the past: We're a little bit ahead of the goal we set in January 2014, with $600k saved rather than $500k. For the last year and half we've been spending more on rent than our entire budget before moving to California. Hopefully we can move somewhere much cheaper (basically anywhere in the US except downtown San Francisco or Manhattan) after I'm done with training and get out of the rent stratosphere.

Congratulations to everyone else who's on track or exceeding! Happy New Year!

aceyou

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #485 on: December 31, 2018, 09:07:19 PM »
This seems challenging, so Iíll happily contribute my goals.  A note to my future self:  I looked at my calculations and then others here, and I think Iím being very conservative.  The way I figure it, you canít time the market and I see/hear predictions for a flat next 5-10 years, and since Iím only 31, I havenít really lived while heavily investing during a flat market as I only got serious about this in 2014 (and I paid off debts during that time).  So I chose a 5% return/year in my non-expert guess.  Iím not including the house or the car.  I have my 401k (contributions are set to 7.5 times what the company matches), my HSA (maxed 2 years in a row now, good for you!), my Roth IRA, my brokerage account, and a teeny pension that my job provides when Iím 67 (or older if they move the date back).  Of course everything is maxed for calculation purposes, but that may not be reality for the next few years, but these are stretch goals and not entirely based upon reality.  I know youíll understand the thought process, and Iím very curious to see what you think in 5 or 10 years or more time.  I hope you've found prosperity and joy in your ventures.  :)

End 2019 - $100,000
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)

Add myself to the list of people who think you are being conservative.  Sounds like you have a good attitude/knowledge base, I bet you will blow these numbers out of the water.  Good luck!

Goldy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #486 on: January 01, 2019, 08:47:23 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                               Actual
2017  $1,500,000             $1,617,661
2018  $1,750,000  FI        $1,642,652
2019  $2,000,000
2020  $2,300,000  FIRE?
2021  $2,600,000
2022  $2,900,000

At the start of December we had our 2018 goal of 1.75 beat but wound up missing due to the market drop. 

chaskavitch

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #487 on: January 02, 2019, 06:53:32 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 projected BOY 2018 - $360,000/$200,000 Dec 2018: $400,497/$174,888
2019: $420,000/$250,000 projected BOY 2019 - $475,000/$225,000
2020: $500,000/$325,000
2021: $575,000/$385,000
2022: $650,000/$475,000


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

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

First year done!  Overall NW is over my projections by $7500, retirement account balances are under by $1500, which I'm happy with, for sure.

Well, my 6% market increase estimate worked out well. Ha.  Our overall net worth is up because we've had about $18,000 in extra income this year that I didn't account for in January.  DH is doing a side-job thing with an old coworker for a nice hourly contractor fee.  It's not reflected in our retirement balances because 25% is going straight to Ally for tax savings, and most of the rest of it has gone toward savings toward that new house down payment.  We won't be moving for a few years, because a 20% down payment on a house with land is ... a lot... so this will probably continue in 2019/2020.  We're also have another kid in March, so we're adding a $1300/mo daycare fee starting in June :(


afuera

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #488 on: January 02, 2019, 08:15:31 AM »
EOY             NW plan        NW Actual
2015              $100K            $110K
2016              $175K            $188K
2017              $300K            $278K
2018              $450K            $358K
2019              $625K
2020              $825K
2021              $1.025M
2022              $1.225M (FI)
Running about 100K behind currently due to high spend year and the market drop.  All of the abnormal high expenses should be behind us now so looking forward to picking up the pace in 2019.

wannabe-stache

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #489 on: January 02, 2019, 12:05:37 PM »
Didn't really start tracking until 2017.

maybe writing it down and publicizing it will help reinforce good behavior.

this excludes our home which we owe free and clear. 2018's redeeming note is that we paid off the rest of our mortgage with a rather large payment.

this assumes 3% returns and a stable and pretty high income that allows us to save a lot of $. both of those could be wrong.

   Net worth Ex-Housing
Jan-17   $1,370,994
Dec-17   $2,171,412
Dec-18   $2,409,607
Dec-20   $3,260,591
Dec-23   $4,886,560

onlykelsey

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #490 on: January 04, 2019, 04:46:24 PM »
Didn't really start tracking until 2017.

maybe writing it down and publicizing it will help reinforce good behavior.

this excludes our home which we owe free and clear. 2018's redeeming note is that we paid off the rest of our mortgage with a rather large payment.

this assumes 3% returns and a stable and pretty high income that allows us to save a lot of $. both of those could be wrong.

   Net worth Ex-Housing
Jan-17   $1,370,994
Dec-17   $2,171,412
Dec-18   $2,409,607
Dec-20   $3,260,591
Dec-23   $4,886,560
Jeez!  Is that USD?

wannabe-stache

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #491 on: January 04, 2019, 06:55:39 PM »
Didn't really start tracking until 2017.

maybe writing it down and publicizing it will help reinforce good behavior.

this excludes our home which we owe free and clear. 2018's redeeming note is that we paid off the rest of our mortgage with a rather large payment.

this assumes 3% returns and a stable and pretty high income that allows us to save a lot of $. both of those could be wrong.

   Net worth Ex-Housing
Jan-17   $1,370,994
Dec-17   $2,171,412
Dec-18   $2,409,607
Dec-20   $3,260,591
Dec-23   $4,886,560
Jeez!  Is that USD?

Yes. the numbers would be much different had i come across bogleheads and to a lesser extent MMM at an earlier date.

the Dec-20 and Dec-23 are  projections assuming my wife and i continue to make enough money where we can spend $100K per year and save $400K per year, and the market returns 3%.  the spending $100K is conservative - we spend less than that in a HCOL area.  the savings is realistic assuming i don't lose my job, which could happen.

i don't like to typecast our lifestyle.  we make $500K - $750K combined after taxes but we don't live like it.  i pack my lunch. we make our own homemade bread in a bread machine that was handed down.  i haven't bought a coffee for as long as i can remember.  i grow tomatoes and peppers in my yard.  i buy used cars for cash.  i almost never buy new clothes.

don't get me wrong, we aren't mustachian. we don't skimp on what matters TO US...life is too short to drink bud light or look for baby seats on the side of the road IMO. we buy good wine from Napa CA and Italy. we tend to eat organic. we spend $20K per year on child care and related expenses.

some people might look at our expenses and call us spendypants.  if they bothered to look at our income they'd think differently.

as i always say, to each their own.

webguy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #492 on: January 04, 2019, 09:29:29 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

Time for another update!  It's been a good year income-wise so far and it looks like that should continue for at least another year hopefully, so I'm updating my goals a bit...

Current NW:  $2.28M
Jan 1 2019:  $2.45M
Jan 1 2020:  $3M

I'm approaching a point where I don't need to work any longer, however I'm in a situation where I own my own business but it feels like it owns me. I'm not sure what to do once I hit my FIRE number as I can't really sell the business due to it being very dependent on me, but it's a cash-generating machine so it seems silly to just dissolve it.  I guess I'll just keep at it for now.

All these quotes makes it a little tricky to see past progress so I'm gonna list it so I can see it more easily. It's crazy how fast your net worth can snowball once you get going:

Jan 2015 - $420k
April 2015 - $540k
Nov 2015 - $748k
Aug 2016 - $1.1M
Jan 2017 - $1.26M
July 2017 - $1.535M
Jan 2018 - $1.85M
Aug 2018 - $2.28M

Happy new year everyone! Almost made my goal but the markets had other ideas..

Jan 2019 Actual: $2.4M

I guess considering my original 2019 goal was $2M I can't be too disappointed.  I guess I better make some new goals:

Current NW:  $2.4M
Jan 1 2020:  $2.9M
Jan 1 2021:  $3.5M (FAT FIRE NUMBER!!!)
Jan 1 2022:  $4.1M

Let's do this!

haypug16

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #493 on: January 07, 2019, 09:29:23 AM »
My year end update. Didn't hit my goal of $10K but still made process. I'm going to update this years goal a little but not too much.

Year                    Goal/Actual
December 2017 - $(24,424.13)/$(24,424.13) (starting point)
December 2018 - $10,000/$(1,524.93) - short by $11,524.93
December 2019 - $46,000/
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)

Pooperman

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #494 on: January 10, 2019, 10:09:36 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

Not happy about this one, but it's what happens when you spend several months unemployed, I guess.

Jan 1 2014: $19k
Jan 1 2015: $25k
Jan 1 2016: $57k
Jan 1 2017: $70k
Jan 1 2018: $132k
Jan 1 2019: $134k
Jan 1 2020: $175k
Jan 1 2025: $500k
Jan 1 2030: $900k
Jan 1 2035: $1.5M

dogboyslim

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #495 on: January 11, 2019, 02:40:15 PM »
Restated to year ends.  I moved, and I think my records are messed up a bit in history for home equity, so not perfect, but probably ballpark.  some of the older years should be higher probably.  I think 2018 is pretty stale as I really didn't improve much when the end of the market dropped.  My wife started working again, so these will probably go faster than I'd projected before, but I'm waiting a bit before adding her savings to the projection.

2014: $1.45
2015: $1.55
2016: $1.7.5
2017: $2.15
2018: $2.0 (down from 2.3 in Sep)

Forecast
2019: $2.2
2020: $2.4
2021: $2.6
2022: $2.8
2023: $3.0
2024: $3.2
2025: $3.5 (Early FIRE Date @ 50)
2026: $3.7
2027: $3.9
2028: $4.2
2029: $4.5
2030: $4.7 (Late FIRE Date @55)

Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #496 on: January 19, 2019, 05:32:12 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!!!

Sooooo close...

1/2/17 NW = $156,358
Yay! I finally hit my goal, and then some!!! Yay!!
1/1/18 NW = $237k
1/16/19 NW = $263k

beege

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #497 on: June 20, 2019, 04:23:57 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


My wife ended up leaving her job completely at the end of the year. She was planning on doing consulting for her company but instead has been taking a mental health break and gotten really involved in volunteering.

We kind of reversed roles as she thought she was the one who wanted to keep on working forever but since her job was toxic I'm glad she's getting a break. She still does want to work and since it's been almost 6 months since she quite she's starting to apply for jobs again. The reality of the difficulty in finding a job in a small town is setting in but not enough to reach out to her old company. As such I decided to stay full time for now until she's employed again or figures out what she wants to do. We were kind of hoping to coast to fire but that hasn't exactly happened.

We've been on the cusp of fire for about a year but haven't really made much progress as I hoped. Was at 82% to our FIRE number last year at this time last year and slightly higher now at 88%. We experienced life-style creep (moved to more expensive place), lack of (as much) income and a slow market has kept us about 1 year away from FI for the past year it seems.

If I had stuck with the 4% rule goalpost we'd be there but I wasn't quite comfortable with it. One More Year syndrome is real. Our FI number is about 1500K it looks like. I wish it were lower but that's the reality. Can't argue with the numbers.

New table

DateGoalActual
June 2014394K
June 2015550K547K
June 2016750K692K
June 2017842K929K
June 20181107K1182K
Dec 20181300K1179K
June 2019current1305K
2020?FIRE1500K


Bateaux

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #498 on: June 20, 2019, 07:05:20 PM »
Considering a 5% overall return, paper investments are projected as follows for FIRE.  Assuming  $6,000 per month additional investment.   Also have 300k to 400k fully owned real estate not included in calculations.

FIRE 2018

2016  $1,300,000
2017  $1,440,000
2018  $1,588,000
*****Fire*********age 50


FIRE 2020

2016  $1,300,000
2017  $1,440,000
2018  $1,588,000
2019  $1,743,000
2020  $1,906,000
*****FIRE*********age 52

FIRE 2023

2016  $1,300,000
2017  $1,440,000
2018  $1,588,000
2019  $1,743,000
2020  $1,906,000
2021  $2,077,000
2022  $ 2,256,000
2023  $2,445,000
*****FIRE*********age 55 (minimum retirement age from employer)

I used a very conservative rate of return in my projected growth.  Obviously we did better than 5%. 
That being said, we've passed in 2019 my expected 2021 value. This is the last month that I can retire at 50.  The temptation is great.  I'm thinking 52 isn't a failure.   With over 2.1M now, unless a recession hits we'll hopefully see another 250K by then.

SwordGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #499 on: June 20, 2019, 07:13:28 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.

It's a year later and net worth is ~$2,720,000.  A bit of that is the bump from taking two run down properties and renovating them.     The rest is market gains.

We have 4 rentals.   We flipped one house and I've got one that we're about to start work on.  It's a zero profit flip to help out the family who's been helping us get our last two rentals  fixed up.

I'm starting to look for another rental but won't get serious about it until later in the summer.  Prices tend to start dropping around then and continue into the winter.

I would like to be at 5 rentals by this time next year and 6 the year after that.   My buddy is taking the flip and going to try out AirBnB.   If it goes well I'll give it a try, too.  If not, it will still do well as a duplex.