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2014 a review and 2015 Ideas

January 15th, 2015 at 10:31 am

I probably should write goals but what I think we need to do are not really goals but ideas I'd like to see through. It's been a very interesting 9 years living where we live. Like Monkey Mama we've changed a lot. How much?

Net Worth
12/31/2005 $131,762.00
1/1/2014 $878,472.00
1/1/2015 $1,073,474.80

So in the 9 years we've lived where we are we increased our net worth 8 fold. This past year has been particularly good to us as we increased our net worth by 22% or $195k. It was a combination of decreasing our debt by $30k and I valued our house $50k more. We wiped clean the last of our student loans, we had around $8k hanging around at 2%, and $8k 0% CC debt. We also paid off one of our cars and the second car will be done in July.

Account 1/1/2014 1/1/2015
LAL IRA $62,327.00 $77,254.24
DH IRA $132,924.00 $148,527.37
DH 401k $244,399.00 $287,059.53

Fid Tax 1 $86,847.00 $85,389.30
Online Check $1,000.00 $8,642.11
Online Savings $42,510.00 $55,542.43
Fid Tax 2 $54,000.00 $50,959.49
SB 1 $10,788.00 $34,493.33
College 1 $11,239.00 $12,251.00
College 2 $6,369.00 $6,831.00
House $650,000.00 $700,000.00
Subtotal Assets $1,302,403.00 $1,466,949.80

Debts
Car 1 $7,900.00 $3,045.00
Car 2 $3,900.00 $0.00
Sallie Mae $8,000.00 $0.00
CC #1 0% $4,000.00 $1,867.00
CC#2 0% $4,000.00 $0.00
Mortgage $396,131.00 $388,563.00
Subtotal Debts $423,931.00 $393,475.00

Net Worth $878,472.00 $1,073,474.80

So we got close to my last year "goals" of increase NW by $200k, break $1M net worth, and break $500k retirement. But where does that put us?

Well my DH just came back from a job interview out on the west coast. We'll hear back in a month but they contacted him and said he hadn't filled out a formal application just resume and cover letter. So he's guessing they are going to do the background check, credit check, etc and are interested. He also has a second interview to be scheduled on the west coast.

We are still wavering on whether to move this year without a job or wait until 2016. If we wait until summer 2016 we'll have 18 more months of job hunting and potentially a lot more money saved.

As it stands we have I would guess about 1 year in cash living expenses at our current budget and no income. After the sale of the house we stand at closer to 8 years without income, not touching our retirement.

I guess our goal is to continue saving and break $200k net worth increase this year and see if we can't make a big push in saving cash since we don't have to pay down $30k in debt.

I'll write more as the story about jobs unfolds.

4 Responses to “2014 a review and 2015 Ideas”

  1. MonkeyMama Says:

    Are you confusing me with someone else? Our net worth has entirely stagnated since 9 years ago. Big Grin I am looking forward to this year as we seem to be moving onwards and upwards in many regards. (I suppose our retirement savings is 4 times what it was a decade ago and I am sure that is what you mean).

    Congrats on the $1 mil milestone. That is AWESOME!! You are so doing it the right way. Actually taking advantage of the high cost locale that you live in (taking advantage of the high wages but saving it instead of spending it). I can't help but think of you when I look at our relatives in the SF area and I so hope they are maxing out their 401ks and have freakish net worths. The reality is they are overtly spending 10 times as much as you are, but they also have the 2 incomes. Maybe it's working out for them. (My brain just can't accept that such frugal people went that much off the deep end financially. I am really rooting for them, but as I type this out I know there is no way in hell they are doing that well. But, you still give me *some* hope. I hope they have very fat 401k balances and stock options and stuff like that).

  2. MonkeyMama Says:

    P.S. Good Luck on the job front too. Just remember that you have options. No decision is final - you can always change your mind. But having options is what makes life awesome.

  3. turning a new leaf Says:

    Wow! Congrats!!! This was really inspirational and motivating to look at! Were you able to hit these numbers mostly due to the amount of time you had and compounding interest? How much were you putting in the 401K and IRA (if you don't mind me asking?).

  4. LivingAlmostLarge Says:

    MM, yeah I was looking at your 10 year Net Worth chart. It has gone up though home equity has gone down. Right now we've passed the $500k retirement savings and I'm hoping to have a bit more saved in the next 18 months.

    Turning a new leaf, I have no idea. We've maxed out a IRA and 401k since 2005 when we had $6400 saved on 12/31/2005. We started saving maximum in 2006 $15k in the 401k and $4k each IRA so $8k. So we saved $23k/year and then were paying for an mba and dropping income in 2010.

    We had to keep plugging away because for a bunch of years the markets went down probably from 2006-2012. So nothing spectacular but saving. Our net worth really increased I think because we paid off a lot of debt.

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