2016 Networth Checkin: $416,583

Incredibly, 2016 has come to a close. My networth goal for 2016 was  somewhere between $400k and $500k from last year’s $352k finish. I didn’t get (anywhere near) $500k, but I still feel accomplished given my mental health and spending more than I wanted to on my wedding this year. I’ve concluded 2016 with $416,583 in networth, including:

  • $14k in cash
  • $188k in taxable investment accounts
  • $204k in retirement accounts
  • $9.9k in college 529 (for grad school or future kids)

My goals for 2017 are:

  • $15k in cash
  • $250k in taxable investment accounts
  • $225k in retirement accounts
  • $10k+in college 529

TOTAL: $500,000

It will be tough, but this goal should be do-able if I either stay in my current job or find another one that pays close to this one. Even if I reduce my current salary by $20k I should be able to still hit this goal. I must save $84,000 in the next 12 months, or $7000 per month. This is definitely do-able with my current job (I make about $10k after taxes per month), but if I reduce that to $9k per month I can manage to save enough. Any less than that it would be challenging with my current rent and other recurring fees.

I am worried about the costs of infertility treatments (that will definitely ruin my networth goal for the year) but I’ll cross that bridge when I get to it. Even though my mental health is poor right now I know I will feel a huge sense of relief when achieving $500k in networth. It has been a dream of mine since forever ago to achieve half a million in networth prior to giving birth. Well, as I’m not pregnant yet I have AT LEAST nine months before I need to get to $500k. At this rate I’ll have more than nine months to get there.

(Visited 83 times, 1 visits today)

Related Posts:

2 comments

  1. Labangel says:

    Hi HECC, out of curiosity do you also know your husband’s net worth? Why don’t you think of your combined net worth now, is it because you got a prenup? <3, labangel

    1. Joy ( User Karma: 0 ) says:

      I don’t know what his networth is. I don’t count his because we keep our finances separate. We don’t have a prenup (and we don’t plan to get divorced!) – the reason I think of our networth separate is that I need $2M in individual networth in retirement for my personal expenses, healthcare, travel, et al. He requires less so his networth can be lower. Together if we have $3M in retirement we will be doing ok. I need to save the majority of that since my income is much higher, so I track mine alone. It will be more challenging to keep this separate when we have kids and if we buy a house, but I’d just have half the value of the house in my net worth.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge