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 did 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 December 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.
While I don’t consider myself a religious person, I do like that the Jewish New Year occurs in the beginning of fall, vs the standard global New Year of January 1st. Fall is a natural transition period between the long days of summer and getting back into the swing and grind of winter. It’s also a good time to pause and reflect one’s growth and changes over the past 12 months. This year, in my own, there have been many.
But 2014 seems to be ending with a bang. I am very close to closing out an amazing employment opportunity that I’m excited about for so many reasons. The subject matter is something I’m deeply passionate in and I think I’m most excited about the chance to work with a few particular individuals who are just the cream of the crop in their roles, especially the small external team I am already pulling together. What really hurt at my other job was that I didn’t feel like I had the right team for success – and in a leadership role it is absolutely impossible to win alone. Just like casting a play a director knows the success of her show is largely in who she gets to show up for auditions and who she puts in each part, so is the success of managing an important function in an organization. I have at least one superstar player on board, at least for a short while, and I’m just absolutely floored that he is willing to partner with me on this mission. I know he has his choice in employment so it means a lot for him to take a chance on me, despite that I’m actually very confident that I am going to an excellent job in this specific role.
Turning down a large company for a position at another smaller company is tough, but not so tough when I feel like I’m set up for success in the smaller company. I’ve got a lot of work ahead of me and it’s surely and uphill climb but I’m going to get it done. I’ve taken my offers to negotiate a very strong package for myself (knock one wood) that will not only serve as fuel towards my savings goals but also further motivate me in going above and beyond to kick every ass there is in sight. I’m scared as all hell but well rested and ready to do this. And, side note, as soon as health insurance kicks in I’m investing immediately in a great psychiatrist and some anxiety meds and/or antidepressants to smooth out my mood so I can focus on what is important.
I’m starting to feel like 2015 is going to be one incredible year, all leading up to my wedding in spring 2016! And, in addition to working for a company whose mission I believe in and who has a team I really like, my seemingly unreasonable goal of saving $500k before I have kids is actually achievable if I can achieve my full bonus over the next two years. It’s pretty amazing to think that my ridiculous goal – which I set when I had $8k in the bank in 2007 – is actually within reach.
While I’m still waiting for the final contract to come through, it seems as though this is going to happen. I still have another solid offer which is there for the taking, but I am really revved up about this opportunity and just need to focus on my mental and physical health to make the best of it. Let’s do this.
I need to stick VERY close to this budget in February. I’m maxing out my 401k as fast as possible in 2014, which means I won’t actually see a portion of my paycheck until the end of February, and I won’t see a full paycheck until March 15.
Auto & Transport: $300 (*includes $200 registration)
Bills & Utilities: $100
Entertainment: $500 (two weekend trips)
Fees & Charges: $100 (*includes $85 credit card fee)
Food & Dining: $400
Health & Fitness: $350 (*3 therapy sessions)
Personal Care: $70
( $3740.34 Remaining cash for February – since I’m maxing out my 401k this month)
March 1 = $650 in bank account for rent; March 15 my paycheck will start appearing in my bank account again.