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.
Jennifer says:
Congratulations! You’ve reached your $400,000 goal and it is not even the end of 2015 🙂
save. spend. splurge. says:
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.
Alexis says:
Good for you!! I hope you meet your goals!
save. spend. splurge. says:
Thanks!
Fig says:
Cheering you on! Such high numbers. Go girl!
save. spend. splurge. says:
Thanks!
Kassandra says:
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.
save. spend. splurge. says:
Yep. I want to reach for the stars but… Live too!
The Asian Pear says:
Woah. You go girl. With the market fluctuations right now, I’m happy my networth isn’t going down… =/
save. spend. splurge. says:
Ditto. I can save a lot but it might all go away with the markets.
tomatoketchup says:
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.
save. spend. splurge. says:
Well that’s a good point. I could use savings instead, it would probably be more relevant than net worth. Perhaps showing both…