Hi fellow Mustachians!
First of all I want to say thanks to all of you. I've been wandering through the blog & forum since 2014 when I was a young graduate with 35K euros in debt and living in Europe. I am today living greatly in NYC with about $65K of net worth. I've been there for 9 months and work is doing tremendously well. While saving, I have been able to also greatly enjoy life, with some crazy cool but expensive vacation along the way, and peace of mind on many things.
I'm posting here to begin my official throw down of the gauntlet. My goal is to reach $1M net worth individually by 2027. Which should be achievable by my calculation... but doesn't take into account kids. So I'm gonna fail but it's alright.
I'm in a good place physically and mentally for the future and I seem to be on the right track for saving so..
Here are the numbers:
Age: 28
Salary: $160K ($130K base + $30K bonus)
Real estate property value in France: $258K
Mortgage: -$242K
401K: $20K
Brokerage: $28K
Checking: $1K
Net Worth: $65K
I net approximately $6300 per month and $15k-20k bonus net per year.
My expenses are at $3300, broken down as follows :
Rent: $1450
Utilities: $100
Phone: $20
Lunch & groceries: $430
Eating out: $200
Gym: $126 (I know, don't hit me)
Miscellaneous: $960
On a monthly basis I am able to add
Savings: $3000
401K: $2417 ($1192 contribution + $693 company match + $542 vetted by company)
By my calculation, I should reach $100K net worth by February 2019 and $120K the next month with the bonus. Then the $200K by March 2020.
If I can stick to that level of savings, considering trips to Europe twice a year, accidents, etc... And sell my apartment in France in about 5 years, I should be around $500K net worth by mid-2023 at age 33 and that would feel damn good because that's about the time I want to start a family.
This will be used as a personal diary.
Long live y'all mustachians.
R
