In Money

My Net Worth Goal for 2014 and 2015

So now that I’m working, and I’ve already met my (old) net worth goal of reaching $250,000, I figured I should do some estimates for 2014 and 2015.

So here are my two, short goals:

2014: Reach $275,000 in net worth after taxes

This would be an increase of around $57,000 net this year or 26%.

This would be a bit tough because I did buy a car this year and I had to buy new tires (another $650), as well as replace the brake pads ($150).

I’m revising this goal from the $250,000 since I already hit this in October.

2015: Reach $400,000 in net worth after taxes

This would be an increase of $125,000 or 45%.

My   s t r e t c h   goal for 2015 is to reach $425,000 in net worth after taxes and expenses.

That’s a major stretch because I’d save $150,000 net after taxes and expenses and it’d be a 54% increase.

Can I do it? I hope so, but I am not going to kill myself to do it. $400,000 is good for me.


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Sherry of Save. Spend. Splurge.

I got out of $60,000 of debt in 18 months using TheBudgetingTool.com. Since then, I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K (savings rate = 85%). I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I also post daily on Instagram @saverspender.

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12 Comments

  1. Jennifer

    Congratulations! You’ve reached your $400,000 goal and it is not even the end of 2015 🙂

    Reply
    1. save. spend. splurge.

      Thank you!!! I am pleased about it. Still need to pay some taxes but it won’t dent it under $400,000 even by the end of the year I think.

      Reply
  2. Alexis

    Good for you!! I hope you meet your goals!

    Reply
  3. Fig

    Cheering you on! Such high numbers. Go girl!

    Reply
  4. Kassandra

    Cheering you on my friend but I like the fact that you’re not planning to kill yourself to get to $425K. I think it’s important to remain realistic in our goals after all.

    Reply
    1. save. spend. splurge.

      Yep. I want to reach for the stars but… Live too!

      Reply
  5. The Asian Pear

    Woah. You go girl. With the market fluctuations right now, I’m happy my networth isn’t going down… =/

    Reply
    1. save. spend. splurge.

      Ditto. I can save a lot but it might all go away with the markets.

      Reply
  6. tomatoketchup

    Out of curiosity, is there a particular reason why you use net worth as a financial goal as opposed to the dollar amount you save in a given year? Much of net worth is dependent on market fluctuation and is out of our control; you can still be a diligent saver and have your net worth drop by half in any given year. I’m personally hoping that a repeat of 2008 occurs while we’re still relatively young and employed so we can buy a bunch of stock funds while the market’s bottomed out. I was hoping the drop in early October was the beginning of such an event, but unfortunately it didn’t work out that way.

    Reply
    1. save. spend. splurge.

      Well that’s a good point. I could use savings instead, it would probably be more relevant than net worth. Perhaps showing both…

      Reply

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