Author Topic: Gauntlet: Long Term Net Worth Goals  (Read 196609 times)

wannabe-stache

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #550 on: December 29, 2020, 12:39:23 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

This is a pretty insane update from my projections at the start of the year.  We heavily rebalanced in March and sunk some large bonus payments in as well, at the right time.  As of the close yesterday are net worth was exactly, $6.000MM including home equity.

i don't want to make light of our fortune - my wife (37) and I (41) are both very lucky.  But for those that wonder, this is just the result of having a high earning job and living well below our means.

Net Worth Ex-Home Equity
Jan-17   $1,370,994
Dec-17   $2,167,212
Dec-18   $2,405,900
Dec-19   $3,357,364
Dec-20   $4,989,364
Dec-23 est.$6,552,752

2Birds1Stone

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #551 on: December 29, 2020, 12:58:38 PM »
Late to the party but here are my annual goals to FIRE

Start of
2015 - 105k 80k
2016 - 135k 136k
2017 - 170k 252k
2018 - 210k 357k
2019 - 255k 421k - FIRE'd in Sept '19
2020 - 305k 576k - back to work in Nov '20
2021 - 360k ~620k
2022 - 420k
2023 - 485k
2024 - 555k
2025 - 630k
2026 - 710k
2027 - 795k
2028 - 885k
2029 - 1 Million (FIRE!! @ 42 years old)

Oh how fun to see if this thread has aged well.

Adding actual amounts vs goal in bold.

Moral of the story, we overestimate what we are capable of in the short term, and underestimate in the long term....the second moral, you don't need a million bucks to try retirement!

philli14

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #552 on: December 31, 2020, 11:13:26 AM »
Goals are for end of year net worths:

2019 100k - ACTUAL: 127.3k
2020 150k - ACTUAL: 203.9k
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

More than happy with the trajectory so far.

FIreDrill

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #553 on: January 01, 2021, 04:59:34 PM »

I finally took the time to create a somewhat decent table for tracking this.  I began doing some individual stock picking with a very small portion of our portfolio in mid/late 2020 that has boosted our returns a little bit this year but the majority of our gains came from changing our asset allocation in March to be heavier into tech & growth companies.  We also put a lot into the market in 2020 and through the crash which turned out amazing.  We are ahead of our long term goals by 1 year and my stretch goal for the end of 2021 is to have 1M invested.  Stay safe/healthy and have a great 2021 everyone!



Year End     Est YOY Gain     Actual YOY Gain     Est Total NW     Actual Total NW     Investments Only     
2014$60,000$62,200$106,700$106,700$67,995
2015$71,169$96,768$177,869$203,468$133,291
2016$81,272$72,907$259,141$276,375$203,004
2017$86,718$91,676$345,859$368,051$329,652
2018$97,862$26,421$443,721$394,472$327,587
2019$104,419$165,723$548,140$560,195$507,311
2020$122,086$280,010$670,226$840,205$734,815
2021$130,265-$800,491--
2022$149,663-$950,154--
2023$159,690-$1,109,844--
2024$181,060-$1,290,904--
2025$209,096-$1,500,000--



Mazzinator

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #554 on: January 01, 2021, 07:27:42 PM »
Currently at NEGATIVE $60k net worth. ($97k debt in SL)

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

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

1/1/2016: $89K

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

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

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

Sooooo close...

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

Posting for my 6 year update!!! I canít 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 Ď21, future salary unknown)
1/1/22 $545
1/1/23 $635
1/1/24 $730
1/1/25 $840
1/1/26 $1 mil

1/1/21 - $510 (plus we have about $30k cash for the transition when my husband retires this summer)

Wile E. Coyote

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #555 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 I 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

Much Fishing to Do

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Re: Gauntlet: Long Term Net Worth Goals
« Reply #556 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 #557 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 #558 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 #559 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 #560 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 #561 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 #562 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