Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 259723 times)

Wile E. Coyote

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #550 on: January 01, 2021, 10:12:13 PM »
The goals that I have in my current model are:

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

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

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

Updated goal numbers:

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

Another year in the books.

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


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

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

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

2014 $1.36M (actual)
2015 $1.54M (actual)
2016 $2.20M (actual)
2017 $2.15M (actual)
2018 $2.35M
2019 $2.55M
2020 $2.75M

Well, my goal was not met, but the biggest factor was the reduction in the ridiculous 2016 Zillow value of my home to a more reasonable number.  Investments went up $192K, so I can't complain!  My new venture has started to really gain some momentum, so I have added back in a very modest goal for adding a little bit to net worth.

It's been far too long since an update on this for me.  Interesting to look back at my goals and compare to where I ended up.  The zillow value in my home has come down to a normal range, so that accounts for part of the "no change" for 2018.  The other was that my venture was still in the early stages at that point.  I have added in some more goals (might as well be aggressive)!  I haven't added any value for the equity in my company as it would be far too speculative at this point.

2014 $1.36M (actual)
2015 $1.54M (actual)
2016 $2.20M (actual)
2017 $2.15M (actual)
2018 $2.15M (actual)
2019 $2.29M (actual)
2020 $2.70M (actual)
2021 $3.00M
2022 $3.50M
« Last Edit: June 01, 2021, 02:36:08 PM by Wile E. Coyote »

Much Fishing to Do

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #551 on: January 02, 2021, 06:35:50 AM »
I think my goals are pretty simple at this point.  I'll be FIREing soon (currently LNW $3.3M TNW $4.3M) and I'm hoping for my LNW and TNW to stay at or above its balance at RE, inflation adjusted.  That is one of the success rates I consider when running the numbers beyond the usual running out of money point.  Looks like my portfolio at a 4% draw would have succeeded at this in the past about 70% of the time.

afuera

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #552 on: January 04, 2021, 08:17:02 AM »
EOY             NW plan        NW Actual
2015              $100K            $110K
2016              $175K            $188K
2017              $300K            $278K
2018              $450K            $358K
2019              $625K            $587K
2020              $825K            $854K
2021              $1.025M
2022              $1.225M (FI)

Finally caught up with our goals after the flood that wiped us out financially in 2017.  We are dropping to one income in 2021 to have SAHP for our baby girl due in Feb so progress might slow but we will keep pushing to meet these targets.

DadJokes

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #553 on: January 04, 2021, 09:49:47 AM »
Year      Goal      Actual
2019$120k$136.9k
2020$210k$227.8k
2021$300k
2025$720k
2030$1.6m

Well, 2020's year-end goal was crushed. I've set a lofty year-end goal for 2021, but I realize that reaching that depends largely on market forces.

chaskavitch

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #554 on: January 04, 2021, 05:06:26 PM »
I have a giant spreadsheet of theoretical future salary increases and retirement account goals already, but I update the values to reflect actual account values at the end of the year, so I don't have a record of what I thought we would have anymore. 

These projected values are a little above what I've calculated with contribution increases and market returns, but I may as well be optimistic :)  I am being incredibly conservative about the increases in NW above and beyond retirement accounts, so it gets a little hand-wavey there anyhow.

Assumptions:
3% salary increase/yr, no bonuses, no promotions
6% market increase/yr
3% yearly contribution increase to 401k, until contribution max is hit

Current NW (including recent tax appraisal house value and mortgage): $272,573
Current retirement account totals: $114,000

End of year NW/retirement goals:
2017: $300,000/$145,000 - 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 Dec 2020: $637,465/$369,025
2021: $575,000/$385,000 Projected BOY 2021 - $735,000 /$470,000
2022: $650,000/$475,000


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

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

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

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

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

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

Again, some good choices, more good luck, but mostly good market increases.  I'm pretty impressed that we've passed my original 2022 end of year projections for overall net worth two years early. 

matchewed

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #555 on: January 05, 2021, 07:57:07 AM »
Current Net Worth $150k

$200k by beginning of 2015

$300k by mid 2017

$400k by mid 2019

and FI($500k) by early 2021

This is my conservative plan so it may be impacted by some job/life changes I see coming on the horizon.

Well a four year update is interesting. Lots happened between then and now. Current net worth with house = $285k. So I'm behind on the original plan but there was a gap of no income in the middle with school and now our (was only my) income is much higher and diversified. So I'd still say we're on track even if it looks as we're behind as our savings rate is much higher as an us than as a me.

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

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

So early 2021 update...

Have hit 560k at the end of 2020. With a slight goal expansion to 650k we are going to hit our number this year. I do want to put together a slightly larger cash position since we are heavily in equities that are in tax advantaged accounts. I've planned on just taking the 10% hit given a low withdrawal quantity and a cash position will help mitigate that prompt a change to move to the 5 year Roth IRA conversion strategy.

My wife is interested in maintaining working so we'll see what happens. I reserve the right to be flexible with my plan even as it nears... conclusion isn't the right word as it isn't done, maybe this latest intersection?

If I get annoyed with work I may just call it quits and jump onto my wife's health insurance and start moving our garden to a larger scale operation. We just moved in late November so no garden prep has happened yet. My numbers are telling me we'll hit my arbitrary goal by 10/2021.

Not totally sure what the next phase looks like. I've mulled part time work or volunteer activities to provide some structure. I'll need to take some time to put something solid behind this. I've had this diffused cloud of possibilities in front of me this entire journey. I've let my brain bounce around each possibility and as my actual reality changed the possibilities altered. I think some chill time learning how to grow things sounds like a hell of a thing.

diapasoun

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #556 on: January 11, 2021, 04:43:32 PM »
Oh hey. I wanna play this game! I've done basic calculations on this for a long time by myself, but I'm curious to see how it really stacks out.

2020: $103113 (actual: $138192)
2021: $141431
2022: $184501
2023: $229516
2024: $277682
2025: $329220
2026: $384366
2027: $443371
2028: $506507


Cezil

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #557 on: January 12, 2021, 06:50:43 AM »
End 2019 - $100,000 (Met 09/2019)
End 2020 - $150,000 (Met 11/2020 (14 months))
End 2021 - $205,000 (Unsure if I can forecast this due to 2021/2022 being up in the air for possible self-chosen unemployment for self mental care)
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

Mrs. D.

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #558 on: April 20, 2021, 02:10:45 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.

It's fun to come back and revisit this post. We hit 300K invested in March of 2021. We're a bit ahead of schedule and plugging along :)

Tester

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #559 on: April 20, 2021, 03:57:20 PM »
Ok, setting a 4 year goal.

Current net worth including house equity estimated by Zillow:  500k.
4 years goal: net worth of 1 million.

Current invested, 280k.
4 year goal: 900k invested.
« Last Edit: April 20, 2021, 04:32:56 PM by Tester »

marty998

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #560 on: April 22, 2021, 02:22:55 AM »
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!

@Ozlady I'm sorry I missed this. Better late than never as they say haha.

I've been working almost 15 years, but obviously early on the earning capacity was a lot less. Things have really taken off in the last few years, and they are accelerating fast now with more coming from investment growth and less from my own contributions. I've put in at least $50k a year since 2010 outside of super towards mortgages or shares, and salary sacrificed up to $25k in super since 2014. Mum and dad have been generous as well with what they call early inheritances, so I won't pretend it's all off my own bat, but that has been more icing than cake.

I do the naughty thing here of paying down debt a fair bit. But then I get itchy fingers and buy another property whenever the borrowing capacity is there. That's been the main winner... acquiring big chunks of assets.

Honestly I have no idea what my returns are or what % is from saving or compounding. As an accountant I'm ashamed of myself for that... but I've always got more value of of looking at balance sheets than income statements.

I'm at $1.75m now. $2.75m of assets and $1.0m of debt. I find it funny that the debt pile is bigger than it ever has been, but the asset pile just grows quicker.


Ozlady

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #561 on: April 23, 2021, 12:55:16 AM »
Hi Marty

thanks for the update....that low LVR is to be admired (or not??) ha ha!

50K investments plus 25K salary sacrifice per year is AMAZING!!!

marty998

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #562 on: April 23, 2021, 04:51:58 AM »
Hi Marty

thanks for the update....that low LVR is to be admired (or not??) ha ha!

50K investments plus 25K salary sacrifice per year is AMAZING!!!

$50k mostly debt repayments in the early years. It took me a long time to get over the pain of 2008 and "trust" stocks again, so I missed the huge run up from 2009 to 2014.

Life circumstances are such that I could do this. Things would be different if I had a girlfriend/wife/kids etc... It wouldn't have happened, no family can reasonably do this while paying mortgages, childcare fees etc etc on 1 or 1.5 incomes.

But given the options, the latter is what I would have taken if I had my time again.

The low LVR bugs me a little bit now. The banks have given me a hard limit of $1.6m as my debt capacity (for now)... so there's scope to take that on, though if rates go back up to say 5%, the thought of paying $80k a year in interest is not one that I find appealing.
« Last Edit: April 23, 2021, 04:55:29 AM by marty998 »

catccc

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #563 on: June 01, 2021, 10:38:26 AM »
My February 2014 post:
we are at $474 at the end of 2013.

Hoping to reach $570K by the end of 2014

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

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

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

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

Funny to look back and see what we were expecting.  Pleased that we have done better than expected.  Also, our spending hasn't changed much (56K in 2017, 56K in 2018, 55K in 2019, 49K in 2020) but we are now trapped in the cycle of worrying if we have enough and we are about to embark on our first OMY year.  I don't think we'll stop working until we hit $2M at least.  And even after that I'm not sure if we'll feel ready.

2019 ending NW: $1,264,990
2020 ending NW: $1,606,228
6/1/21 NW: $1,822,798
Hoping to get to $2M by the end of the year.

matchewed

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #564 on: June 17, 2021, 09:18:49 AM »
Current Net Worth $150k

$200k by beginning of 2015

$300k by mid 2017

$400k by mid 2019

and FI($500k) by early 2021

This is my conservative plan so it may be impacted by some job/life changes I see coming on the horizon.

Well a four year update is interesting. Lots happened between then and now. Current net worth with house = $285k. So I'm behind on the original plan but there was a gap of no income in the middle with school and now our (was only my) income is much higher and diversified. So I'd still say we're on track even if it looks as we're behind as our savings rate is much higher as an us than as a me.

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

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

So early 2021 update...

Have hit 560k at the end of 2020. With a slight goal expansion to 650k we are going to hit our number this year. I do want to put together a slightly larger cash position since we are heavily in equities that are in tax advantaged accounts. I've planned on just taking the 10% hit given a low withdrawal quantity and a cash position will help mitigate that prompt a change to move to the 5 year Roth IRA conversion strategy.

My wife is interested in maintaining working so we'll see what happens. I reserve the right to be flexible with my plan even as it nears... conclusion isn't the right word as it isn't done, maybe this latest intersection?

If I get annoyed with work I may just call it quits and jump onto my wife's health insurance and start moving our garden to a larger scale operation. We just moved in late November so no garden prep has happened yet. My numbers are telling me we'll hit my arbitrary goal by 10/2021.

Not totally sure what the next phase looks like. I've mulled part time work or volunteer activities to provide some structure. I'll need to take some time to put something solid behind this. I've had this diffused cloud of possibilities in front of me this entire journey. I've let my brain bounce around each possibility and as my actual reality changed the possibilities altered. I think some chill time learning how to grow things sounds like a hell of a thing.

So even with some stock market churn we're there. I'm technically FI.

Sips coffee...

Cool...

Still stand by my rambling near the end there.

beege

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #565 on: June 17, 2021, 07:56:40 PM »
It's been a little while since here:
Wasn't a really Mustachian at this time last year (maybe started scratching the surface a bit) but since then my SO and I have converted fully! After discovering MMM in September, we started the process around October last year and have continued to make improvements since. In that time, my SO negotiated to work from home full time, got a 7% raise while I started a new job. And we moved so that I could bike there. We have also done numerous other things to kill off bleeding expenses (reducing cell phone bills, power bills, etc) as well as concentrating on living a minimalist life (no TV, getting rid of unnecessary possessions). We just sold one of our cars yesterday, hope to sell my truck soon so we will be a one car household!

Saw this post and thought we might as well join in on the goals. Hope to check in next year (this is our joint NW with home equity):
(Current - June 2014) - 429K
1 Year (June 2015) - 600K
2 Years (June 2016) - 800K
3 Years (June 2017) - 1MM

Honestly those are a bit of a stretch, but I hope raises and our lifestyle changes (and market returns) may help us hit them. Though we are both relatively young (27) we have a few challenges in that we are paying for the mortgage for my SO's mother's place since she came to the US later in life to escape a war, raised 4 kids without a husband and has no retirement savings. That'll slow down our FI by a year or two (if we don't count that condo then our real NW number is the above minus 220K) but it's worth it to us. I also loaned my sister 60K to help her buy a house so I suppose that could be tacked on to our NW as well but I don't expect to see that money again for a long time (if ever).

We became FI around 2019, but I got cold feet and moved the FIRE goalpost:
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.

And then got stuck for a bit with OMY syndome:
Drawing a line in the sand now. I've got another calendar reminder set for next year and, genuinely, I expect that to be the last update. We are sitting at less than a 3.25% withdraw rate for our stash right now, we've paid off our mortgage for my MIL's house, and Covid has (for us) been a non-issue on the financial side so I'm pretty much done with excuses. A big thanks to MMM and the forum for getting us started down this path way back in 2013!

Regarding the actual (liquid) net worth we hit 1422K in June. That's a bit (90K+) lower than it would be otherwise due to the mortgage payoff. I expect to be around 1550K in February 2021 barring a more permanent financial crisis.

But finally, this should be my last update. Made it across the finish line and got the courage to call it quits. Whew!

DateGoalActual
June 2014394K
June 2015550K547K
June 2016750K692K
June 2017842K929K
June 20181107K1182K
Dec 20181300K1179K
June 2019I think I missed this goal?1305K
June 2020Was supposed to be FIRED but OMY syndrome1422K
Dec. 2020FIRED! I think. Took a sabatical.1710K
June 2021Yep I think I'm definitely feeling FIRED. Still technically on a sabatical but no plans to return.1818K (2166K with home equities)

We bought a house (for us to live in, separate from the MIL house) at the end of 2020. After closing realized house had a large issue that needed fixing. Was planning on working through march but ended up taking a sabbatical early to deal with the issue. Was a stressful time but kind of glad it happened because it got my ass to do something about leaving my job.

Wife still enjoys her work for now so have a huge safety net. It's been a long road, though we were lucky with our salaries so maybe shorter than most. I've been FIRED 6 months but I still am thankful every day I don't have to go to work. Just stick to your goals and you'll make it there eventually. I am firmly in the FIRE is awesome bucket. Happiness definitely increased for me and has been sustained so far. Have so much stuff to do and it feels like I just left work yesterday.
« Last Edit: June 19, 2021, 08:05:54 PM by beege »

Much Fishing to Do

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #566 on: June 19, 2021, 04:55:43 AM »
I don't think I've posted on this thread before and I'm kinda ending my pre-FIRE goals, so to catch up:


Actuals
End of 2002: 0
2007: 430k
2011: $1M
2014: $1.5M
2016: $1.8M
2017: $2.4M
2018: $3.4M
2019: $4M
2020: $4.3M
Current: $4.73M

I had thought I was basically easing into FIRE in 2020 as my work hours had dropped a lot in the hourly work from home job I have had since selling my business, but things in the department got real busy again and I've found myself back at 35+ hrs/week in 2021 from the nice 10/wk it had fallen to. At 10 hrs/wk I liked the work (I like the 'puzzles' involved, and it was easy to find the time), but busy at 35hrs its mostly just people pushing to make tight deadlines, and it certainly gets in the way of all the other things I'd rather be doing.

I have little control to reduce those hours in the position (its hard to say no when its busy), so I realized I'm gonna have to just pull the plug fully.  I have what will likely be a good incentive comp coming due in Jan 2022 based on this busy 2021, so currently plan is to announce my departure after that.  I think I'll leave my department in great shape being able to boast that year and setting the stage for my right hand person to take over (who I'm in the way of and definitely want them to advance in position/salary as they certainly deserve it)

That plus any market rise should get me close to hitting $5M NW (and $4M LNW/invested assets number I base my SWR off of), so that's nice round numbers I'd like to hit by that date.

This is well above any NW targets I ever had thru the years, as I had plenty of them in the past but kinda blew threw them as the business ramped up.  We kept spending low at first so as to approach FI more quickly, and then as we approached it and the assets continued to grow we increased spending.

After that I guess I don't really have any NW goals over just hoping my NW stays flat or goes up (inflation-adjusted) over time as opposed to down (that what I look at in projections just after success rate).  Calculators show me there's about a 70% chance of that happening based on prior markets and my planned spend.  So my actual NW goals probably have more to do with inflation rates which I wont pretend to have a guess at.  I've had an interesting run of my NW going up every year since it crossed zero in 2003 (good business years made up for bad market years, and of course as my NW really exploded of late we've had quite the market run), so watching it go down for a few years in a row will be a shock to me I'm sure....but I'm pretty sure I'll get over it....
« Last Edit: June 19, 2021, 04:57:52 AM by Much Fishing to Do »

DadJokes

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #567 on: July 01, 2021, 12:20:37 PM »
Year      Goal      Actual
2019$120k$136.9k
2020$210k$227.8k
2021$300k$289.1k
2025$720k
2030$1.6m

We are only halfway through 2021, and we are already pushing up against our goal for the year.

nawhite

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #568 on: December 29, 2021, 08:09:35 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.)

So this year I basically FIREd. I quit my tech job to start teaching kayaking full time (whitewaterworkshop.com). I made around $17k in 4 months of work. It's weird how the change basically didn't affect my net worth at all compared to what the market was doing. I postponed leaving from April to July and took all of the money I earned in that timeframe and dumped it into the cheaper stock market, combined with doing my IRA contributions during the March crash.

Going forward, I'm kinda done with "Goals" it's more like "guesses." The Goal was FI and I'm there now. So maybe the Goal now is just to maintain FI? Sure seeing the number continue to grow would be cool but honestly, it doesn't really matter now that it is enough to cover rent and health insurance forever. Either my wife or I can make enough money to cover food and toys doing stuff we enjoy part time so why would it need to be bigger?

That said, in terms of Guesses, I'm thinking that after 2 years of crazy increases, a real long term decrease or plateau is probably coming. That combined with me not working anymore and I'm going to guess somewhere between a 4%/year increase and a linear regression of the past 9 years:

Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Actual: $773k NW
Jan 2022: Goal: $780-804k NW
Jan 2023: Goal: $836-880k NW
Jan 2024: Goal: $860-990k NW

Still my favorite thread, glad to necro post!

My net worth still wants to keep going up magically and by a disconcerting amount. I guess it's a good thing because inflation went up a lot this year. My wife got a full time job in February that certainly isn't hurting the net worth either and it gives us health insurance which sure is nice. We're maxing her 401k and the leftover basically covers rent. The kayak lesson thing is going great. I made about $40k in revenue last year. More than I need/want to be honest. Definitely debating still between hiring people (eww, that sounds like work) and just chopping it off at the knees to have more fun time. Add it all up though and I have no idea how the net worth went up by 33% in one year (close to $250k?!?!?).

This year I got to go down the Grand Canyon in a raft again and spent 40 days camping on rivers. Funny how the priorities change.

As far as goals go, I'm honestly just hoping to end up in the black for the next year so I'm going back to hoping for a 4% increase. You'd think at some point during retirement the number would decrease but I guess not yet. It's the wave of money in action I guess (https://www.mrmoneymustache.com/2013/05/25/which-part-of-the-money-wave-do-you-surf/)

Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Actual: $773k NW
Jan 2022: Actual: $1,010k NW
Jan 2023: Goal: $1,050k NW
Jan 2024: Goal: $1,094k NW


DadJokes

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #569 on: December 30, 2021, 01:47:36 PM »
Year      Goal      Actual
2019$120k$136.9k
2020$210k$227.8k
2021$300k$331.8k
2022$420k
2023$520k
2025$740k
2030$1.6m
« Last Edit: January 01, 2022, 08:22:58 AM by DadJokes »

philli14

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #570 on: December 31, 2021, 10:17:12 AM »
Goals are for end of year net worths:

2019 100k - ACTUAL: 127.3k
2020 150k - ACTUAL: 203.9k
2021 200k - ACTUAL: 310.0k
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

Continue to be ahead of pace. Not expecting the ride to be smooth sailing all the way, but happy to enjoy it while it is calm and smooth.

Turtle

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #571 on: December 31, 2021, 11:02:01 AM »
Went from being in the 500's to 700's this year, but not counting on that to continue.

Here's the relatively conservative contributions plus average of 7% goals for the next 5 years.

2022 800k
2023 885k
2024 975k
2025 1070k
2026 1100k - looking to FIRE sometime in 2026 at the latest
« Last Edit: December 31, 2021, 11:05:28 AM by Turtle »

Wile E. Coyote

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #572 on: January 01, 2022, 11:32:09 AM »
Spoiler: show
The goals that I have in my current model are:

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

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

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

Updated goal numbers:

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

Another year in the books.

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


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

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

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

2014 $1.36M (actual)
2015 $1.54M (actual)
2016 $2.20M (actual)
2017 $2.15M (actual)
2018 $2.35M
2019 $2.55M
2020 $2.75M

Well, my goal was not met, but the biggest factor was the reduction in the ridiculous 2016 Zillow value of my home to a more reasonable number.  Investments went up $192K, so I can't complain!  My new venture has started to really gain some momentum, so I have added back in a very modest goal for adding a little bit to net worth.

It's been far too long since an update on this for me.  Interesting to look back at my goals and compare to where I ended up.  The zillow value in my home has come down to a normal range, so that accounts for part of the "no change" for 2018.  The other was that my venture was still in the early stages at that point.  I have added in some more goals (might as well be aggressive)!  I haven't added any value for the equity in my company as it would be far too speculative at this point.

2014 $1.36M (actual)
2015 $1.54M (actual)
2016 $2.20M (actual)
2017 $2.15M (actual)
2018 $2.15M (actual)
2019 $2.29M (actual)
2020 $2.70M (actual)
2021 $3.00M
2022 $3.50M


2014 $1.36M (actual)
2015 $1.54M (actual)
2016 $2.20M (actual)
2017 $2.15M (actual)
2018 $2.15M (actual)
2019 $2.29M (actual)
2020 $2.70M (actual)
2021 $3.57M (actual)
2022 $4.0M

Well, I surpassed even my 2022 goal in 2021, so I added a new, ridiculous 2022 goal.  Some of the 2021 increase is from a Zillow home value that is higher than it should be, but I am pulling the numbers straight from Mint to be consistent with prior posts in this thread.  Realistically, NW is probably closer to $3.2M at the end of 2021.

afuera

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #573 on: January 03, 2022, 09:22:16 AM »

EOY             NW plan        NW Actual
2015              $100K            $110K
2016              $175K            $188K
2017              $300K            $278K
2018              $450K            $358K
2019              $625K            $587K
2020              $825K            $854K
2021              $1.025M         $1.142M
2022              $1.225M
2023              $1.400M
2024              $1.700M
2025              $2.000M

Somehow after dropping to one income in early 2021 and lowering our investment contributions we still hit this target.  This market is wild.
Plan is to keep chugging along and let the market do its thing but I added some stretch goals for the next 3 years since 2025 is our FIRE target.

chaskavitch

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #574 on: January 04, 2022, 09:22:32 AM »
Spoiler: show
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 Dec 2020: $637,465/$369,025
2021: $575,000/$385,000 Projected BOY 2021 - $735,000 /$470,000
2022: $650,000/$475,000


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

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

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

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

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

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

Again, some good choices, more good luck, but mostly good market increases.  I'm pretty impressed that we've passed my original 2022 end of year projections for overall net worth two years early.


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 Dec 2020: $637,465/$369,025
2021: $575,000/$385,000 Projected BOY 2021 - $735,000 / $470,000 Dec 2021: $784,070/$517,027
2022: $650,000/$475,000 Projected BOY 2022 - $900,000 / $637,000
2023: $1,025,000/$850,000
2024: $1,200,000/$950,000


Again, market gains this year were ridiculous.  My husband has been getting pretty decent raises/bonuses, so that helps too.  This end of year retirement balance is WAY past my original goal for 2022.  I added some 2023 and 2024 goals, I can't believe this thread has been around so long now.  Getting closer!

diapasoun

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #575 on: February 04, 2022, 12:15:11 PM »
Oh hey. I wanna play this game! I've done basic calculations on this for a long time by myself, but I'm curious to see how it really stacks out.

2020: $103113 (actual: $138192)
2021: $141431 (actual: $270689)
2022: $184501
2023: $229516
2024: $277682
2025: $329220
2026: $384366
2027: $443371
2028: $506507

I got a big raise partway through the year, which had a significant effect here. Even taking that into account though... I was still up $60k over what my formula, which assumes 10% growth, predicted.

CTEC_Stache

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #576 on: February 16, 2022, 11:56:39 AM »
My current NW including home equity, future pension value, and all liquid assets is just over $500k. My liquid NW is considerably lower (around $80k).

As such my long term NW goals are as follows:

1 year - Liquid NW = $100k
2 year - Liquid NW = $125k
3 year - Liquid NW = $160k
4 year - Liquid NW = $200k (my wife is a SAHM and we anticipate her going back to work at this point)

5 year - Total NW = $1M+

Within the first year I will be paying off my student loans and car note. Sometime around year 2 or 3 we will likely be moving to a bigger house. In addition, I am currently working in a role that equates to two different half time positions within the same school district which equates to about $75k/yr; at some point in these 5 years I'm hoping to go full time in the higher paying portion of the job (hopefully garnering a 20%-30% raise).

oneday

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #577 on: February 17, 2022, 10:46:50 PM »
Interesting gauntlet!

1998 NW: $2.2K
2008 NW: $38.0K (+$3.6K/yr)
2015: found MMM
2018 NW: $268.2K (+$23.0K/yr)
2019 NW: $344.0K (+$75.8K) - newly divorced
2020 NW: $408.5K (+$64.5K)
2021 NW: $543.4K (+$134.9K) holy cannolis!

At this point I am going to estimate investment balance instead of NW

                   Plan             Actual
2021                              $505.3K
2022            $586.1K
2023            $673.4K
2024            $767.8K
2025            $868.2K
2026            $977.7K
2027            $1.1M

clarkfan1979

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #578 on: February 20, 2022, 07:19:34 AM »
During my last year of undergrad in 2002 one of my professors was lecturing about the power of exponential growth. He was in his late 60's and on the last day of class he shared that he was worth about 10 million on the last day of class. I am now a professor and on a similar path. I am currently 42 years old and plan to teach until age 70, which will be year 2049. 

If I wanted to replicate my professors accomplishment, what would the equivalent net worth of 10 million in year 2002 be in year 2049?

If I do inflation at 2.5%, my number is 32 million.

 

afuera

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #579 on: December 30, 2022, 01:20:37 PM »
EOY             NW plan        NW Actual
2015              $100K            $110K
2016              $175K            $188K
2017              $300K            $278K
2018              $450K            $358K
2019              $625K            $587K
2020              $825K            $854K
2021              $1.025M         $1.142M
2022              $1.225M         $1.078M
2023              $1.400M
2024              $1.700M
2025              $2.000M

about $150K short of our goal.  Its all up to the market at this point since we are down to one income, CoastFI for now.

oneday

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #580 on: December 30, 2022, 04:45:27 PM »
Interesting gauntlet!

1998 NW: $2.2K
2008 NW: $38.0K (+$3.6K/yr)
2015: found MMM
2018 NW: $268.2K (+$23.0K/yr)
2019 NW: $344.0K (+$75.8K) - newly divorced
2020 NW: $408.5K (+$64.5K)
2021 NW: $543.4K (+$134.9K) holy cannolis!

At this point I am going to estimate investment balance instead of NW

                   Plan             Actual
2021                              $505.3K
2022            $586.1K      $459.0K
2023            $673.4K
2024            $767.8K
2025            $868.2K
2026            $977.7K
2027            $1.1M

Rude.

philli14

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #581 on: January 04, 2023, 03:24:36 PM »
Goals are for end of year net worths:

2019 100k - ACTUAL: 127.3k
2020 150k - ACTUAL: 203.9k
2021 200k - ACTUAL: 310.0k
2022 275k - ACTUAL: 222.5k
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

Now a bit behind track, but as a result of combining finances with my wife. Her student loans put a dent in the net worth, but net worth gains will be twice as fast now with our incomes combined. May be a lot to ask to be back on track by the of 2023, but would be cool to try!

chaskavitch

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #582 on: January 04, 2023, 04:58:29 PM »
Spoiler: show
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 Dec 2020: $637,465/$369,025
2021: $575,000/$385,000 Projected BOY 2021 - $735,000 /$470,000
2022: $650,000/$475,000


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

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

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

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

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

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

Again, some good choices, more good luck, but mostly good market increases.  I'm pretty impressed that we've passed my original 2022 end of year projections for overall net worth two years early.


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 Dec 2020: $637,465/$369,025
2021: $575,000/$385,000 Projected BOY 2021 - $735,000 / $470,000 Dec 2021: $784,070/$517,027
2022: $650,000/$475,000 Projected BOY 2022 - $900,000 / $637,000 Dec 2022: $764,835/$517,794
2023: $1,025,000/$850,000 Projected BOY 2023 - $875,000/$606,325
2024: $1,200,000/$950,000


Again, market gains this year were ridiculous.  My husband has been getting pretty decent raises/bonuses, so that helps too.  This end of year retirement balance is WAY past my original goal for 2022.  I added some 2023 and 2024 goals, I can't believe this thread has been around so long now.  Getting closer!

Wow.  Well, our retirement accounts went up, so that's something?  My original (2017) projections for retirement accounts for the end of 2022 were around $450k, so it's better than I was originally planning for.  New projections are based on actual returns this year, haha, but who even knows now. 

TyGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #583 on: January 23, 2023, 02:01:41 PM »
I've read through the majority of this thread and I am excited to track my progress here! My numbers may be a bit ambitious, especially for the first few years, but I am hopefully I can reach them! My fire number will be in the ballpark of 1 million (lean fire will be near 650K), but I will get a more accurate number as the time draws near. In the meantime, I am aiming for 1 million.


EOY      GOAL      ACTUAL
 
2022                    87.7K
2023     160K       
2024     225K
2025     300K
2026     380K
2027     475K
2028     575K
2029     675K
2030     775K
2031     885K
2032     1,000K

Turtle

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #584 on: January 23, 2023, 02:21:23 PM »
Went from being in the 500's to 700's this year, but not counting on that to continue.

Here's the relatively conservative contributions plus average of 7% goals for the next 5 years.

2022 800k
2023 885k
2024 975k
2025 1070k
2026 1100k - looking to FIRE sometime in 2026 at the latest

I did end 2022 north of 800 for the accounts I was tracking in 2021, but only because of a large one time deposit.
That extra influx does mean that the other goals are still on track.

Abe

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #585 on: January 29, 2023, 09:21:05 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!

4 years since we're up to $1.15m, and saving about $250k per year now (a little better than expected). Plan is to shift to an easier job within my career track in 5 years. Will re-post close to then!

nawhite

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #586 on: January 30, 2023, 04:35:46 PM »
Net worth = $0 by January 2014. And its going to be amazing!

10 years. I've posted in this thread for 10 years. This site is amazing. Thinking back on where I was when I started on this journey is surreal. I was two years out of college and really disillusioned at the prospect of doing this job thing for another 40+ years. Then I saw a post about MMM on news.ycombinator.com in 2012 and was immediately hooked. The naysayers on that site just didn't understand it but I did. I saw a way out of the dreary boredom of office work.

My wife and I kept plowing money into our student loans and then when those started to dry out, we just kept flooding money into retirement accounts. Within 2 years we had a net worth of $0. At 8 years the nest egg was big enough to cover at least rent and health insurance for the rest of my life, so I left the tech industry in 2020 and started a business teaching whitewater kayaking. I was out. 8 years. That's what it took. 8 years with a long term net worth goal.

Since then the market went up (I was a millionaire for a month in 2021!) and down but the freedom and resiliency I've learned here makes it not a big deal. I'll just keep being happy doing something that brings me joy and not stuck in a rat race.

Thanks MMM and the community! The system works. Good luck to all of you still working towards your goals!

Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Actual: $773k NW
Jan 2022: Actual: $1,010k NW (yay covid bull market)
Jan 2023: Actual: $876k NW (back to normal)
Jan 2024: Goal: $950k NW

oneday

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #587 on: February 01, 2023, 07:52:43 PM »
This site is amazing.

1000% agree!

Congrats on getting out of the 9-5 grind so quickly. May you continue to live your dreams.

I like your quote art :)

TyGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #588 on: July 02, 2023, 07:59:09 PM »
I wanted to do a mid-year check in, I currently stand at a net worth of 126.1K. This puts me at at ~53% of the way toward my yearly goal. I plan to continue saving as much as possible, with hopes of ending the year with a net worth over 160K!

EOY      GOAL      ACTUAL
 
2022                    87.7K
2023     160K       
2024     225K
2025     300K
2026     380K
2027     475K
2028     575K
2029     675K
2030     775K
2031     885K
2032     1,000K


Lean Fire: 625,000
Fat Fire: 1,050,000

afuera

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #589 on: December 29, 2023, 10:51:37 AM »
EOY             NW plan        NW Actual
2015              $100K            $110K
2016              $175K            $188K
2017              $300K            $278K
2018              $450K            $358K
2019              $625K            $587K
2020              $825K            $854K
2021              $1.025M         $1.142M
2022              $1.225M         $1.078M
2023              $1.400M         $1.381M
2024              $1.700M
2025              $2.000M

The market rally of the last two months has brought us within $20K of this extremely aggressive arbitrary target I set 8 years ago.  Wild.

philli14

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #590 on: January 01, 2024, 10:55:44 AM »
Goals are for end of year net worths:

2019 100k - ACTUAL: 127.3k
2020 150k - ACTUAL: 203.9k
2021 200k - ACTUAL: 310.0k
2022 275k - ACTUAL: 222.5k
2023 350k @ 30yo = ACTUAL - 387.8k
2024 450k
2025 550k
2026 650k
2027 750k
2028 850k
2029 1000k - Anticipated FI date for 40k/year spend, when I will likely FI

Back on track!

TyGuy

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #591 on: January 02, 2024, 02:40:58 PM »
EOY      GOAL      ACTUAL
 
2022                    87.7K
2023     160K       157.3
2024     225K
2025     300K
2026     380K
2027     470K
2028     570K
2029     675K
2030     785K
2031     900K
2032     1,025K
2033     1,160k
2034     1,300k
2035     1,450K


Lean Fire: 625,000
Fat Fire: 1,050,000

Happy with the progress I made this year, I came within 3k of reaching my goal I set last year and I am on track to reach my goal for 2024! Cheers to another successful year and net worth increases!

nawhite

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #592 on: January 09, 2024, 12:17:11 PM »
Net worth = $0 by January 2014. And its going to be amazing!

10 years. I've posted in this thread for 10 years. This site is amazing. Thinking back on where I was when I started on this journey is surreal. I was two years out of college and really disillusioned at the prospect of doing this job thing for another 40+ years. Then I saw a post about MMM on news.ycombinator.com in 2012 and was immediately hooked. The naysayers on that site just didn't understand it but I did. I saw a way out of the dreary boredom of office work.

My wife and I kept plowing money into our student loans and then when those started to dry out, we just kept flooding money into retirement accounts. Within 2 years we had a net worth of $0. At 8 years the nest egg was big enough to cover at least rent and health insurance for the rest of my life, so I left the tech industry in 2020 and started a business teaching whitewater kayaking. I was out. 8 years. That's what it took. 8 years with a long term net worth goal.

Since then the market went up (I was a millionaire for a month in 2021!) and down but the freedom and resiliency I've learned here makes it not a big deal. I'll just keep being happy doing something that brings me joy and not stuck in a rat race.

Thanks MMM and the community! The system works. Good luck to all of you still working towards your goals!

Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Actual: $773k NW
Jan 2022: Actual: $1,010k NW (yay covid bull market)
Jan 2023: Actual: $876k NW (back to normal)
Jan 2024: Goal: $950k NW


And that's 11 years on this site now:

Jan 2014: Actual: $13k NW, $99k non-mortgage debt
Jan 2015: Actual: $101k NW, $69k debt
Jan 2016: Actual: $218k NW, $58k debt
Jan 2017: Actual: $311k NW, $47k debt
Jan 2018: Actual: $408k NW, $40k debt
Jan 2019: Actual: $425k NW, $0k debt!!!
Jan 2020: Actual: $625k NW
Jan 2021: Actual: $773k NW
Jan 2022: Actual: $1,010k NW (yay covid bull market)
Jan 2023: Actual: $876k NW (back to normal)
Jan 2024: Goal: $950k NW Actual: $1,007k on the 1st, 996k today

So I'm ahead of the goal, but inflation is also up a lot over the past few years, whatever. I think honestly that I'm not going to bother with long term net-worth goals anymore. I'm effectively retired, I work part time for myself outside, I take a lot of "professional" trainings I really enjoy, do a lot of trips (multiple weeks in Alaska and Mexico last year), and I work with a non-profit I like. And I don't need to worry about paying rent or feeding myself or paying for health insurance. Life is pretty good and it doesn't matter if my net worth goes up anymore or not.

So I'll probably still check in with this thread going forward just because I've been here a while and it's fun to look back. But I won't be setting net worth goals anymore. Good luck to everyone else on here at meeting your goals, you'll get there! Just don't forget to be ready to make new life goals after you reach the net worth goals.


« Last Edit: January 09, 2024, 12:19:57 PM by nawhite »

oneday

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #593 on: January 10, 2024, 10:15:40 PM »
Interesting gauntlet!

1998 NW: $2.2K
2008 NW: $38.0K (+$3.6K/yr)
2015: found MMM
2018 NW: $268.2K (+$23.0K/yr)
2019 NW: $344.0K (+$75.8K) - newly divorced
2020 NW: $408.5K (+$64.5K)
2021 NW: $543.4K (+$134.9K) holy cannolis!

At this point I am going to estimate investment balance instead of NW

                   Plan             Actual
2021                              $505.3K ($515.3K w/ bonds)
2022            $586.1K      $459.0K ($480.2K w/ bonds)
2023            $673.4K      $657.0K
2024            $767.8K
2025            $868.2K
2026            $977.7K
2027            $1.1M

For some reason I didn't include any ibonds in 2021 or 2022. This year the actuals are suddenly much closer to the plan; that's nice to see.

dogboyslim

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #594 on: February 06, 2024, 04:28:04 PM »
It's been a few years since I was on here.  What a ride.  My company got bought out and I got moved into a horrible high stress pressure cooker job, my wife's company folded, my oldest went to college, and we now have 5 cars for 4 drivers (one is a toy), I quit working because FU money, and for a while just did some lifeguarding.  I Then found a new job that I like but pays 80k less per year, but is less stressful than the old, wife found a new job and got a nice retention bonus for staying till the doors shuttered.  We didn't really keep to our goals well through all this, but didn't go off the rails except for 2023 which was a straight-up dumpster fire for spending.  We now both work and make just a bit more than my solo salary from the high stress job.  We are both in companies that structure roth 401(k)s and allow mega-back door roth 401(k) conversions so we are going to be contributing to roth accounts to the tune of nearly 100k this year, plus some after tax savings.  I'm going to probably punch out at 55, as I'm not ready to go at 50.  My 6 months off work taught me that I need to have more purpose in my not-working life, so the 5 years gives me time to prep for that, plus our youngest will graduate HS so wife and I will be empty nesters (during the school year anyway, and assuming our oldest launches).  When I turn 55, I have to figure out how to get some of our tIRA balance into ROTH, so now exploring rolling tIRA funds into my 401k so I can do rule of 55 to withdraw the tax payments on the conversion.  Otherwise I'll balance SEPP withdrawals to pay tax on the conversions.  At any rate, getting more back into tracking since the dates are beginning to feel more real.

2014: $1.45
2015: $1.55
2016: $1.7.5
2017: $2.15
2018: $2.0 (down from 2.3 in Sep)
...
2023: $3.6M ($3M invested, $600k home, $0 debt)

Current Forecast:
2024: $3.8M
2025: $4.1M
2026: $4.3M
2027: $4.5M
2028: $4.8M
2029: $5.1M FIRNSE [Financially Independent Retire Not So Early]


What I thought I'd have in 2018.  Not far off actually.
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)


Turtle

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #595 on: February 12, 2024, 08:33:28 AM »
Went from being in the 500's to 700's this year, but not counting on that to continue.

Here's the relatively conservative contributions plus average of 7% goals for the next 5 years.

2022 800k
2023 885k
2024 975k
2025 1070k
2026 1100k - looking to FIRE sometime in 2026 at the latest

I did end 2022 north of 800 for the accounts I was tracking in 2021, but only because of a large one time deposit.
That extra influx does mean that the other goals are still on track.

Original accounts which I based that goal on are at 1100k as of this weekend, 2 years ahead of what I was hoping.  Still looking to FIRE in 2026.  Waiting on the results of this year's US elections before I make any decisions to move it up.

catccc

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #596 on: February 16, 2024, 12:42:30 AM »
44 and hoping to hit $3.0M in a year.  At 2.4M liquid rn.  How did I get here?

 

Wow, a phone plan for fifteen bucks!