This year will be challenging, especially when it comes to keeping my job through Jan 1. My goals below are listed here to inspire me to get through the hard days and work to what is a realistic networth breakdown at the end of 2021. I will change jobs in 2022, possibly change fields entirely. But this year, I need to hit these goals. Do you think we can do it? Including total family goals. It’s only 9 months…
- Retirement: $614,629 ($521.5k now)
- Taxable Investment: $822.5k ($804.5k now)
- Emergency Fund: $60k ($60k now)
- IVF Fund: $65k ($65k now)
- 2 Yr old 529: $196k ($91.6k now)
- 0 Yr old 529: $151k ($41.3k now)
- -3 Yr old 529: $63.7k ($63.7k now)
Total 9 Mo Gains (*not including home value and equity) = $326k
I’ll be tracking to this over the coming months. By the end of 2021, I want us to have $2M total in investments and cash, not counting our home mortgage or equity.
Next year COULD be a really big year for us. I’m estimating we can take our net worth from $2.2M to $2.75M by the end of the year. I would love to see us go to $3M, but I think $2.5M-$3M is within striking distance if I keep my job until Jan 1, 2022.
If you haven’t been following — the majority of this expected growth is from company stock which has increased a lot since I started the job. I am in my final year of vesting and each quarter I should get a chunk of change (and then some) which is the only reason I’m able to save so much next year. If I lose my job all bets are off. I’m trying really really hard to not lose my job.
These net worth goals are now family net worth goals. I continue to track my “own” net worth for comparison to my numbers since I started blogging in 2006, but the numbers presented here are family net worth numbers. When I refer to my “own” numbers I consider cash in my personal checking account, my IRA/401k, the full value of 529 (since I fund this directly), and half of the value of home on sale (even though I pay a larger percentage of the mortgage.)
I’ll be blogging my $500k-$1M net worth growth over the next year, so if you’re interested in seeing if we can hit these goals follow me at @everycentcounts on Twitter.
Numbers Below = 
- Emergency Fund (Cash) [$65k][$72k]
- FIRE Bucket 1 (2030) [$1.1M][$1.4M]
- FIRE Bucket 2 (2050) [$428k][$746k]
- 529 (2-3 Kids) [$99k][$249k]
- Home Value (On Sale*) [$493k][$505k]
Total Networth (Pre Tax):
- 2020: $2.2M ($4.4M age of use value**)
- 2021: $2.7M ($5.2M age of use value)
* house value on sale = value of house – 10% of house value (realtor and fixing up fees) – what is owed to bank – any taxes owed (actual cash in hand estimate after sale)
**age of use value = I focus on “age of use value” in my net worth calculations, which is the value of each bucket * 5% YoY interest growth for my interest-earnings accounts and 3% for home value, for expected length of ownership. Ie the 529 accounts are considered 17 yr average investments (and each year that goes down a year.)
Quick “after tax value goals” post for Jan 1, 2022
- Home Equity: $456k
- Cash: $311.8k
- Stock: $811k
- IRA: $201.5k
- Roth: $147.1k
- Husband’s Retirement: $108k
- 529 (2 kids): $138.3k
NEW TOTAL AFTER TAX NETWORTH GOAL:
$2,065,832 (age 38)
I’ll be tracking this closely as this is a significant growth in networth, as well as assuming we own a $1.6-$1.8M home… if we ever buy one.