November Wrap Up and Progress Towards $300k

Wow, I can’t believe it’s already December, well at least fiscally speaking. Markets closed at 1pm on Friday and the direct deposit paycheck is processing in my checking account. Despite two months of unemployment, this year has shaped up to be decent in terms of networth growth. I’m hoping next year will blow all of my previous year savings out of the water.

I’m toying with the idea of making a goal of hitting $400k networth by the end of 2016 (which is actually possible if I live frugally and manage to hit a sizable chunk of my bonus) but very much so a stretch. This year my stretch goal was $325k — which I’m not going to make — but my non-stretch goal of $50k growth to $300k is within reach (yes, I had gotten to $300k earlier this year and then dropped under it again, so you can say I didĀ reach my goal even if I end up slightly under – but I base my success off of my Jan 1 networth. Actually, according to NetworthIQ I’m at $308k right now – but that includes $16k that is disappearing in my old company stock (probably will be lost in 2016) and $10k for my car which is always depreciating in value. Since both of those are still real live assests I’ll count them for now and have to make up the difference in 2015.

That said, I have one more month to kick ass and bring this year home. Looking forward to a frugalista DecemberĀ for the win. The more over $300k I can be Jan 1 the more likely I can achieve $400k in 2015, bringing it home with $500k networth in 2016 when I hope to be pregnant with my first child. Assuming $15k and $20k growth at .05% interest rate YoY that leaves $165k in actual savings each year to make up for, or $6875 per month. Let’s do this.

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3 comments

    1. Joy ( User Karma: 0 ) says:

      Thanks. People do include cars in their networth. You just have to consider depreciation. I go for KBB value each year, assuming that if I needed to sell the asset that is what it’s worth. You def shouldn’t count what you paid for the car in your networth though.

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