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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12 Comments

  1. Jennifer

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

    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.

  2. Alexis

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

  3. Fig

    Cheering you on! Such high numbers. Go girl!

  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.

    1. save. spend. splurge.

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

  5. The Asian Pear

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

    1. save. spend. splurge.

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

  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.

    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…

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