Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 175054 times)

Mrs. D.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #500 on: June 21, 2019, 02:00:04 PM »

A more immediate update - Net worth without the primary residence = $365k. Net worth with primary residence (equity) = $465k.

Should be FIRE early 2022 @ a goal of 600k without primary residence. Will probably beat that given my deliberate conservative planning combined with the whole saving oodles thing.

Well done! You're so close to FIRE. It must feel great.

This is actually a pretty hard exercise.
June 2019 - 200K invested/300 NW (actual)
June 2021 - 300K invested
June 2023 - 500K invested
June 2030 - 1 M invested

DD will start high school in 2032. Not sure if we'll have a 3rd kid yet. We'd like to be FI by the time she starts high school, but probably won't retire then. This feels like a stretch goal on our current income situation (DD works FT, I have small PT income), but very doable if I become more fully employed when DD starts kinder. Lots of balls still up in the air.

Nice to see everyone setting goals and working so hard to reach them! Onward and upward.

ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #501 on: June 24, 2019, 01:30:00 PM »
My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.

Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M

Buffalo Chip

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #502 on: June 25, 2019, 01:11:03 PM »
Fun thread. Especially the old posts from some of our more colorful posters to see how things have changed.

My strettttch goal has more to do with generational wealth. So in that sense our goals are extremely long term, by the time DW and I have keeled over timeframe. So 2070 stretch goal would be say $10,000,000 net worth or equivalent in whatever currency we’re using in 2070. That’d be cool.

ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #503 on: June 25, 2019, 03:04:54 PM »
Fun thread. Especially the old posts from some of our more colorful posters to see how things have changed.

My strettttch goal has more to do with generational wealth. So in that sense our goals are extremely long term, by the time DW and I have keeled over timeframe. So 2070 stretch goal would be say $10,000,000 net worth or equivalent in whatever currency we’re using in 2070. That’d be cool.

Agreed, i love the 4 and 5 year updates in here. Crazy how people can remember to come back and post, not sure I will have that same dedication with all of our savings on autopilot.

SwordGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #504 on: June 25, 2019, 03:28:37 PM »
Fun thread. Especially the old posts from some of our more colorful posters to see how things have changed.

My strettttch goal has more to do with generational wealth. So in that sense our goals are extremely long term, by the time DW and I have keeled over timeframe. So 2070 stretch goal would be say $10,000,000 net worth or equivalent in whatever currency we’re using in 2070. That’d be cool.

Agreed, i love the 4 and 5 year updates in here. Crazy how people can remember to come back and post, not sure I will have that same dedication with all of our savings on autopilot.

This website changes lives for the better.  MUCH better!
It cut a dozen years off my expected retirement date.    Many of us like to give back to a community that helped us so much.

ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #505 on: June 25, 2019, 07:10:11 PM »
That makes sense, we are hosting an international student from a 3rd world country currently. I was a visiting student at some point as well and look at it as giving back. Much more impactful for me to do this vs giving a dollar value to a charity.

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webguy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #506 on: July 08, 2019, 09:48:01 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!

Man this last 6 months has flown by! Finding myself ahead of the curve so time to update the goals a bit:

Current NW:  $2.88M
Jan 1 2020:  $3.1M
Jan 1 2021:  $3.75M
Jan 1 2022:  $4.4M

actonyourown

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #507 on: July 23, 2019, 09:34:23 PM »
Wow this is something I haven't put a whole lot of thought into yet, so here goes.

I started tracking NW as of June 2017, so end of June will be my updated timeframes.

30-Jun-2017   30-Jun-2018   30-Jun-2019
 $18,710.71     $36,855.53     $55,479.52

June 2020 $75,000
June 2021 $100,000
June 2022 $150,000
June 2023 $200,000
June 2024 $300,000
June 2025 $350,000
« Last Edit: September 14, 2019, 08:49:58 AM by actonyourown »

ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #508 on: July 23, 2019, 10:54:10 PM »
My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.

Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M
Well that plan is out the window.

New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.

1098 more days :-)

Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.

webguy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #509 on: July 25, 2019, 06:15:16 AM »
My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.

Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M
Well that plan is out the window.

New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.

1098 more days :-)

Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.

Interesting, so your wife is already retired while you’re still working? How has that been working out so far?

ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #510 on: July 25, 2019, 07:47:50 AM »
My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.

Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M
Well that plan is out the window.

New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.

1098 more days :-)

Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.

Interesting, so your wife is already retired while you’re still working? How has that been working out so far?

Depends on who you ask I suppose :-)

She was already retired when we met but we have a large age gap so I couldn't just live off of her retirement income and not build up any of my own retirement savings. We are now 8 years later, she has battled through a bout of cancer and a stroke so time is ticking.

andy85

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #511 on: July 25, 2019, 12:35:04 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

Actuals:
2015 - $40,500
2016 - $61,253
2017 - $82,238
2018- $100,693
2019 - $126,377 (as of the end of June)

Goals:
2019 - $135k
2020 - $175k (35)
2025 - $400k+ (40)
2030 - $750k+ (45)
2035 - $1.2M+ (50)

I'd probably be FI at 750k, but would like some fun money and an extra cushion for long-term health care since I'm single with no kids and not sure that'll change lol. I'm gonna need a raise in the next couple of years to keep this on track :)

DadJokes

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #512 on: July 25, 2019, 01:13:04 PM »
Original goal for the end of 2019: $88k
Current NW: $92k

So I guess it's time for changes...and some lofty long-term goals

YearGoal
2019$120k
2020$200k
2025$680k
2030$1.5m
2035$2.6m
« Last Edit: July 25, 2019, 04:04:37 PM by DadJokes »

haypug16

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #513 on: July 26, 2019, 07:22:06 AM »
Mid year update

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 - $40,000/17,825.45
December 2020 - $82,000/
December 2021 - $130,000/
December 2022-  $185,000/
December 2023 - $240,000/
December 2024 - $295,000/
December 2025 - $350,000/
December 2026 - $410,000/
December 2027 - $475,000/
December 2028 - $540,000/ (stretch FIRE goal)
December 2029 - $605,000/
December 2030 - $675,000/ (FIRE goal)

I think I should get pretty close to my 2019 goal of $40k.

Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #514 on: July 31, 2019, 08:15:16 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
1/16/19 NW = $263k

Posting for my 6 year update!!! I can’t believe it!!!
7/29/13 NW = -$60k (yes, that was NEGATIVE 60k)
7/31/19 NW = $340k

I almost made my very end goal of $350k ahead of schedule!!! I guess i need to update those goals and make some new ones seeing how i never made goals past 1/1/2020.

New goals!! (These may be stretch goals after summer 2021)
1/1/20 $375
1/1/21 $455 (husband will retire from active duty in the summer of ‘21, future salary unknown)
1/1/22 $545
1/1/23 $635
1/1/24 $730
1/1/25 $840
1/1/26 $1 mil

zinnie

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #515 on: October 04, 2019, 05:06:05 AM »
NW: $433,000
Goal: $1.1 million by August of 2020.

Stretch is to do it in 6 years, or 5. Mint keeps telling me I'm about a year ahead so we will see!

Looking back on this post from 3.5 years ago is crazy. I am way ahead, almost at the net worth goal now, and will hit that number liquid more than a year before my old net worth goal. I don't even understand the math, but I'll take it! Once you get on the right track, it really does snowball :)

Update after another 2.5 years: I hit my NW goal super early, somehow, even though I took a year+ off work. (Being off also made me realize I REALLY don't like having to think about/follow a budget. That part felt very limiting instead of freeing. So we increased our number. I also realized I have to put more thought into what I am early retiring to as I get a lot out of work and work relationships that was hard to replicate elsewhere. But that is for another thread.)

Current: $1.45M
New goal: ~$2M (Aug 2021)

nancyfrank232

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #516 on: October 04, 2019, 07:59:40 AM »
NW: $433,000
Goal: $1.1 million by August of 2020.

Stretch is to do it in 6 years, or 5. Mint keeps telling me I'm about a year ahead so we will see!

Looking back on this post from 3.5 years ago is crazy. I am way ahead, almost at the net worth goal now, and will hit that number liquid more than a year before my old net worth goal. I don't even understand the math, but I'll take it! Once you get on the right track, it really does snowball :)

Update after another 2.5 years: I hit my NW goal super early, somehow, even though I took a year+ off work. (Being off also made me realize I REALLY don't like having to think about/follow a budget. That part felt very limiting instead of freeing. So we increased our number. I also realized I have to put more thought into what I am early retiring to as I get a lot out of work and work relationships that was hard to replicate elsewhere. But that is for another thread.)

Current: $1.45M
New goal: ~$2M (Aug 2021)

Congrats!

Many of us underestimate the power of compounding. It really does snowball

https://medium.com/the-10x-entrepreneur/warren-buffett-has-made-99-7-of-his-money-after-the-age-of-52-71e2ce04c347

zinnie

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #517 on: October 06, 2019, 02:25:00 PM »
Interesting article nancyfrank! That graph is crazy. And thank you 😊.

Bateaux

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #518 on: October 07, 2019, 08:28:11 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)

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

Beware the power of OMY syndrome.  Currently at 2,150,000 investment assets.  Another 400k or so in real estate.  The current and final goal is 2.5M in investment assets.  So far this year we've come close to but never crossed 2.2M.  I think we will cross 2.2M in coming months, however I expect to dip below 2.0M in the coming recession.  So I'm stuck in OMY for a while.

ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #519 on: October 07, 2019, 09:58:36 AM »
I'm confused, bateaux. You are certainly pulling the plug at $2.5m and will stick with it even if during a recession your assets drop or will you go back to work and re-hit $2.5m in order to pull the plug again

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Bateaux

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #520 on: October 07, 2019, 11:04:10 AM »
I'm confused, bateaux. You are certainly pulling the plug at $2.5m and will stick with it even if during a recession your assets drop or will you go back to work and re-hit $2.5m in order to pull the plug again

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Sorry for the confusion.  My thoughts are that before I reach my 2.5 million goal, we will have a recession that will drop my accounts below 2.0 million.  I will not quit work if below 2.0 million.  Now, if I reach age 55 in 2023 and I'm above 2.0 million I'll consider quiting, in 2023 I can lock in company health insurance.  The extra 500k in assets is to pay for health expenses.  A democratic win in 2020 and potentially cheaper healthcare could allow me to quit earlier as well.  You could say that I'm currently working for healthcare.  Looking back at those old 2016 calculations.  Dang I've made a lot of money since then.  Over 800K in 3.5 years.  Compounding is scary.
« Last Edit: October 07, 2019, 11:10:57 AM by Bateaux »

marty998

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #521 on: October 21, 2019, 03:01:28 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.


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.

October 2019 - $1.3m.

If the housing market hadn't gone down here I'd be up around $1.5m at the moment which is definitely crazy to think about.

It's getting hard to know how to forecast now - everything is so dependent on markets as opposed to the bulk of gains coming from savings.

End of 2022 I should hit $2m at a rough guess.

Ozlady

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #522 on: October 28, 2019, 06:59:54 PM »
Good work Marty...

1.3 million in your early 30s? is no small feat....

Say you have been working for 10 years , that's nearly 130 k per year of working life saved...

What  rough % did  you attribute that to pure savings viz-a-viz investment gains you reckon? 

(Asking for my own son's education..)

Putting aside the 25K in superannuation to reach your net worth in 10 years means he has to plow in minimum 75K upwards per year (around 6K per month) from his salary..OMG! 

 

Bateaux

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #523 on: October 29, 2019, 12:05:16 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)

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

Beware the power of OMY syndrome.  Currently at 2,150,000 investment assets.  Another 400k or so in real estate.  The current and final goal is 2.5M in investment assets.  So far this year we've come close to but never crossed 2.2M.  I think we will cross 2.2M in coming months, however I expect to dip below 2.0M in the coming recession.  So I'm stuck in OMY for a while.

Took less than a month with new highs, to cross the 2.2 Million investment mark.  Mature portfolio growth is incredible.

nancyfrank232

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Gauntlet: Long Term Net Worth Goals
« Reply #524 on: October 29, 2019, 03:51:16 AM »
My long term NW stretch goal is $20m considering that my portfolio will hit $10m passively

I don’t wish it, but I’ll hit the goal sooner if we have another Tech Wreck/Credit Crisis bust
« Last Edit: October 29, 2019, 06:12:41 AM by nancyfrank232 »

Hirondelle

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #525 on: November 27, 2019, 01:31:51 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 €200/month more really does make a huge difference. Ultimate goal would be to reach that 100k :)

Passed my Nov 2019 goal by almost 4k!

New projections:
Nov 2018: 29k
Nov 2019: 55k59k
Nov 2020: 85k
Nov 2021 (end of contract): 112k

ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #526 on: November 27, 2019, 08:22:39 AM »
Passed my Nov 2019 goal by almost 4k!

New projections:
Nov 2018: 29k
Nov 2019: 55k59k
Nov 2020: 85k
Nov 2021 (end of contract): 112k

Congrats, nice to see the compounding effect on your multi-year goals. Bumped the 2021 target up quite a bit from the original plans!

Hirondelle

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #527 on: December 03, 2019, 12:23:08 PM »
Passed my Nov 2019 goal by almost 4k!

New projections:
Nov 2018: 29k
Nov 2019: 55k59k
Nov 2020: 85k
Nov 2021 (end of contract): 112k

Congrats, nice to see the compounding effect on your multi-year goals. Bumped the 2021 target up quite a bit from the original plans!

Actually my calculations do assume a bit of compouding/market returns (4% I think) but both the market and my savings skills have been outperforming and that definitely adds up over even a short time frame :)

EscapedApe

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #528 on: December 06, 2019, 03:31:20 PM »
I think I could live off $40,000 per year, considering my hobbies and love of travel. So my goal is an even $1M.

Of course, that's likely a gross over-estimation.

DadJokes

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #529 on: December 30, 2019, 12:57:12 PM »
Original goal for the end of 2019: $88k
Current NW: $92k

So I guess it's time for changes...and some lofty long-term goals

YearGoal
2019$120k
2020$200k
2025$680k
2030$1.5m
2035$2.6m

We exceeded our goal by $17k, thanks to a great year in the market and $12k in a pension that we vested in and had previously not included. We've added a little to our prior goals to account for those items. I'm also dropping 2035, since I expect to hit FI between 2030-2035.

YearGoalActual
2019$120k$137,265
2020$210k
2025$720k
2030$1.6m

ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #530 on: December 30, 2019, 02:39:55 PM »
@DadJokes and that was a revised goal. You're 50k ahead of where you thought you would be based on initial projections! Let that snowball grow!

Sent from my Pixel 2 XL using Tapatalk


philli14

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #531 on: December 30, 2019, 07:35:13 PM »
Goals are for end of year net worths:

2019 100k - ACTUAL: 127.3k
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
« Last Edit: December 31, 2019, 05:00:35 PM by philli14 »

nawhite

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #532 on: December 31, 2019, 04:54:18 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

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

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

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

I don't get this stuff anymore. Just checked my numbers and I'm at $625k today. Up $200k in one year?!?! And my wife wasn't even working this year?!?! How is this possible? My best guesses are that 1) the market was way below the moving average at the end of last year. 2) We dollar cost averaged the proceeds from the house throughout that whole downturn so we ended up set up very well for the following increase starting in January. Overall though it is just absolutely mind boggling that we did so well this year.

This year, I'm probably going to end up leaving the high paying job. Not going to full on FIRE, but move on to doing whatever I want to do that might earn money instead. My whitewater kayak instruction company might actually have legs and I am thinking of doing a 1000 mile rafting trip from Breckenridge to the bottom of the Grand Canyon. So add that all up and I'm going with the goal of a bit more this year and then just not pulling any money from it so it goes up at the stock market's CAGR:

Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Goal: $700k NW
Jan 2022: Goal: $747k NW
Jan 2023: Goal: $798k NW
Jan 2024: Goal: $852 NW

(Edit: in the graph below, Brown is savings in the bank account, Grey is investments in 401k, IRAs or Vanguard and Blue is net worth. The other lines were for student loans and mortgage and equity and stuff and don't really matter anymore.)
« Last Edit: December 31, 2019, 05:03:56 PM by nawhite »

Goldy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #533 on: January 01, 2020, 04:06:33 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        $1,642,652
2019  $2,000,000             $2,302,398
2020  $2,300,000  FIRE?
2021  $2,600,000
2022  $2,900,000

Had a great year and posted a gain of $660k which put us a whole year ahead of our goal for 2020.  Both of us landed promotions this year and we were able to max out our 401k's to the full 56k on each.  Expenses were kept down to 75k or 60k without the house payments so we are still securely FI.  Def want to work one more year for some golden handcuffs but not sure what happens after that.

Bateaux

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #534 on: January 01, 2020, 06:05:18 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.

Beware the power of OMY syndrome.  Currently at 2,150,000 investment assets.  Another 400k or so in real estate.  The current and final goal is 2.5M in investment assets.  So far this year we've come close to but never crossed 2.2M.  I think we will cross 2.2M in coming months, however I expect to dip below 2.0M in the coming recession.  So I'm stuck in OMY for a while.

Took less than a month with new highs, to cross the 2.2 Million investment mark.  Mature portfolio growth is incredible.

2020 update.  We've reached 2.32M liquid.  Passing the 2022 goal set in 2016.

afuera

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #535 on: January 02, 2020, 08:43:38 AM »
EOY             NW plan        NW Actual
2015              $100K            $110K
2016              $175K            $188K
2017              $300K            $278K
2018              $450K            $358K
2019              $625K            $587K
2020              $825K
2021              $1.025M
2022              $1.225M (FI)

Still playing catchup from the flood the decimated our finances in 2017 but gaining ground.  Only ~$40K behind the goal I set in 2015.

chaskavitch

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #536 on: January 02, 2020, 09:17:00 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 Dec 2019: $540,560/$276,161
2020: $500,000/$325,000 Projected BOY 2020: $625,000/$347,309.67
2021: $575,000/$385,000
2022: $650,000/$475,000


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

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

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

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

Market increases have been awesome.  We also sold our house for >$150,000 profit and bought a more expensive house with an acre of land outside of town.  Still within a decent commute time, but lots more space and excellent views of the mountains.  I think that accounts for a large part of our overall NW increase.

We're getting solar installed this year, so that'll be a chunk of money going out.  It was SUPPOSED to happen in Dec 2019, but the company ran into some permitting issues, so now we don't get the tax credit until 2021, boo.  They're offering some sort of reparation for the lost 4% credit from 2019 to 2020, at least.

wannabe-stache

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #537 on: January 03, 2020, 06:56:38 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

Markets were up, income was up.  Strong stuff.  Adding another to the family in June 2020 so keep plugging away as it can't last...

            Net Worth
       Ex-Home Equity

Jan-17   $1,370,994
Dec-17   $2,171,412
Dec-18   $2,409,607
Dec-19   $3,358,564
Dec-20   $3,832,672
Dec-23   $5,416,207


ItsALongStory

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #538 on: January 04, 2020, 09:47:26 AM »
Quote
7/15/19
New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.

1098 more days :-)

Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.

As of today I am at roughly $265k invested, planning on adding about $50k more by end of June. I am hoping that the market can help out a little as well and put me around $325k by then. The plan has once again changed whereby a move to Europe will happen this summer, I will continue working for a further 2 years in all likelihood and then pull the plug. We plan on selling our home here in the US and pocket ~250k in equity which will go into VTSAX. Also planning on adding most of my relocation budget to that stashe.

Most of my much reduced (expecting 50-60% reduction) salary in Portugal will be put towards my retirement. That should still enable me to keep my 2 year timeline.

Toad

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #539 on: January 04, 2020, 12:10:47 PM »
I'll join in so I can laugh at myself later.  I track my finances independent of my wife's - only because I refuse to consider myself FI until I have accumulated enough to support us both indefinitely.  This is a leaner FIRE than I would prefer and it would require us moving, but that is easy since we are in an apartment.

Really I set my target when I started into this a couple years back and spent a lot of time looking at it.  Rather than chasing a moving goalpost, I am leaving that target as is with the intent to reevaluate life circumstances when I get to that point.

Target is $750k accumulated and grown from my assets.  My wife's assets are more difficult to predict since she is currently doing a postdoc.  I just project her out at that same income level indefinitely which is pretty conservative but would put us around a combined $1 MM when I hit $750k.

Targets for my accumulation are:
January 2020: 290k (current)
January 2021: 375k
January 2022: 475k
January 2023: 600k
January 2024: 750k

I think hitting my 750k target in 4-5 years is probable.  I will reassess when I get there.

Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #540 on: January 06, 2020, 08:07:52 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
1/16/19 NW = $263k

Posting for my 6 year update!!! I can’t believe it!!!
7/29/13 NW = -$60k (yes, that was NEGATIVE 60k)
7/31/19 NW = $340k

I almost made my very end goal of $350k ahead of schedule!!! I guess i need to update those goals and make some new ones seeing how i never made goals past 1/1/2020.

New goals!! (These may be stretch goals after summer 2021)
1/1/20 $375
1/1/21 $455 (husband will retire from active duty in the summer of ‘21, future salary unknown)
1/1/22 $545
1/1/23 $635
1/1/24 $730
1/1/25 $840
1/1/26 $1 mil
1/1/20 $389 yippee

haypug16

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #541 on: January 06, 2020, 01:29:48 PM »
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 - $40,000/$36,186.69
super close, short by $3,813.31
December 2020 - $72,000/
December 2021 - $115,000/
December 2022-  $162,000/
December 2023 - $215,000/
December 2024 - $270,000/
December 2025 - $330,000/
December 2026 - $390,000/
December 2027 - $455,000/
December 2028 - $525,000/ (stretch FIRE goal)
December 2029 - $590,000/
December 2030 - $650,000/ (FIRE goal)

I made some adjustments going forward. My FIRE number is now $650k which would give me $26k per year at a 4% WR. I've got 11 more years to go so I'm sure this wont be the first time I make some adjustments. I have a feeling I'll be increasing the FIRE number back up.

webguy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #542 on: January 08, 2020, 08:07:30 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 so I can see it more easily. It's crazy how fast your net worth can snowball once you get going:

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

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

Jan 2019 Actual: $2.4M

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

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

Let's do this!

Man this last 6 months has flown by! Finding myself ahead of the curve so time to update the goals a bit:

Current NW:  $2.88M
Jan 1 2020:  $3.1M
Jan 1 2021:  $3.75M
Jan 1 2022:  $4.4M

Another day another dollar! 2019 was a good year financially, looks like I ended up almost up a million which is pretty ridiculous. I’m close to finalizing the sale of a large portion of my business which is why my projected net worth will be increasing quite a bit in 2021. Also factoring in a market pullback at some point in the not-to-distant future too.

Current NW:  $3.35M
Jan 1 2021:  $5.9M
Jan 1 2022:  $6.0M
Jan 1 2023:  $6.2M
« Last Edit: January 08, 2020, 01:41:05 PM by webguy »

Cezil

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  • Age: 33
  • Location: Great Lakes region
Re: Gauntlet: Long Term Net Worth Goals
« Reply #543 on: January 10, 2020, 12:05:00 PM »
Quote
End 2019 - $100,000 (Goal met with $111,642.78)
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)

I met my end-2019 goal and am apparently already 20% of the way to my end-2020 goal so I think I was too conservative when calculating this all out in 2018.  I'm super happy for the progress.

SwordGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #544 on: January 10, 2020, 01:13:11 PM »
Quote
End 2019 - $100,000 (Goal met with $111,642.78)
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)

I met my end-2019 goal and am apparently already 20% of the way to my end-2020 goal so I think I was too conservative when calculating this all out in 2018.  I'm super happy for the progress.

No, the market has just been way better than average the last year.  And because it was down for part of 2018, you got a double-whammy in your favor as you dollar-cost-averaged in.


Cezil

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  • Posts: 195
  • Age: 33
  • Location: Great Lakes region
Re: Gauntlet: Long Term Net Worth Goals
« Reply #545 on: January 10, 2020, 01:29:34 PM »
Quote
End 2019 - $100,000 (Goal met with $111,642.78)
End 2020 - $150,000
End 2021 - $205,000
End 2022 - $265,000
End 2023 - $330,000
End 2024 - $400,000
End 2025 - $470,000
End 2026 - $545,000
End 2027 - $625,000
End 2028 - $710,000 (My brain is unable to fathom having this much NW)

I met my end-2019 goal and am apparently already 20% of the way to my end-2020 goal so I think I was too conservative when calculating this all out in 2018.  I'm super happy for the progress.

No, the market has just been way better than average the last year.  And because it was down for part of 2018, you got a double-whammy in your favor as you dollar-cost-averaged in.

That makes sense, thank you.  I'm getting used to this new action of shoving major cash into investments (and seeing it grow!) instead of towards debt (endless black hole, it seemed).  My feelings and judgement are still befuddled from shifting to an abundance mindset instead of feeling lack (even though I was super fortunate to be able to do major debt payoff in the first place - it's just a change in living/priorities and it's got me off balance still).  Also, I never thanked you for your insight in the other thread (making less than 50k), so thank you!

ItsALongStory

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  • Location: Western US
Re: Gauntlet: Long Term Net Worth Goals
« Reply #546 on: January 11, 2020, 04:52:12 AM »


My official target time frame is 7 years from now basically so i will plot out some milestones based on about $65k in contributions per year and ~5% portfolio gains. I am hoping that i can pull the plug in mid-2024 though, enabling me to optimize taxes and still get my bonus payout. My wife is already retired so I plan on drawing a low % in the first few years to reduce the sequence of returns risk and then crank it up later when my stashe has hopefully grown a bit more.

Current total NW: $315k
End of 2019: $340k
End of 2020: $420k
End of 2021: $510k
End of 2022: $600k
End of 2023: $700k
End of 2024: $810k
End of 2025: $930k
Middle of 2026: $1M
Well that plan is out the window.

New plan is to build up my investments to $400k by mid 2022. I will then quit and we will live for 3 years off my wife's retirement and slow travel through Europe. Plan is to rent out our house during that time and keep it as a fall back plan. Our plan a is to sell, reinvest equity and start drawing 4% of that taxable account the next year or 2 years after. In the meantime my $400-500k will get a chance to grow to $1m or so when I start drawing 2% as needed. My wife gets cola in het retirement and has her own healthcare premium covered as well.

1098 more days :-)

Edit for clarity: I am no longer considering my portion of home equity as part of my retirement stash so I have roughly $200k currently.

Ended 2019 with about $265k invested and on track for my 2020 projection to be met by early July since I'm front loading 2020 investments in 401k and HSA due to potential move abroad this summer. Stretch goal for end of year 2020 is $365k for 100k growth.

House might get sold this year so we can pull equity out and invest all but a year's worth of living expenses.