The Next 10 Years

I’ve been doing a lot of thinking about the next 2 years, up until turning 30, but I haven’t seriously thought out the next 10 years (other than I want to get married, buy a house, and have three kids.) I spent a few minutes thinking through what I really want over the next 10 years, and find it fascinating how I see myself, once having kids, significantly cutting back my work hours to spend time with my family. I still want to work, and possibly even work full time, but I cannot imagine working a job earning six-figures when I have kids. I think I’ll want to work 40 hrs/week max at that point, and ideally consult so I can work from home and spend time with my family.

What makes me nervous is that with this plan I only have $525k in networth by 38, and that’s if everything goes as planned where I can continue saving $50k per year until I have my first kid. This all freaks me out quite a bit, I wish there was a way to get to $500k before I get married and have kids!

 

Age 28. — 2012
$200k networth. Earn $100k+ for the year, save $50k.


Age 29. — 2013
$250k networth. Earn $110k+ for the year. Get married, move into 1br w/ bf.


Age 30. — 2014
$300k networth. Earn $120k+ for the year. Start trying to have my first kid.


Age 31. — 2015
$350k networth. Earn $130k+ for the year. Have my first kid.


Age 32. — 2016
$375k networth. Earn $50k for the year. Take time off to be with kid?


Age 33. — 2017
$400k networth. Earn $50k for the year. Consult.


Age 34. — 2018
$425k networth. Earn $50k for the year. Second kid.


Age 35. — 2019
$450k networth. Earn $50k for the year. Consult.


Age 36. — 2020
$475k networth. Earn $50k for the year. Third kid.


Age 37. — 2021
$500k networth. Earn $50k for the year. Buy a house?

Age 38. — 2022
$525k networth. Earn $50k for the year. Consult.
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