We passed our net worth milestones of $850K this month! Our net worth is currently $856,759. We passed our last net worth milestone of $840K last month. We hope to reach out next milestone of $860K next month.
All posts by 1MansMoney
January 2020 Income Statement
In January, we had a good income month and but also a high expense
month (see spreadsheet screenshot).
Our total income in January was $14,652.22. In addition to our regular paychecks, I
received a monthly and quarterly bonus $5,100 gross ($2,799.70 net) and my wife
received a discretionary bonus of $1,000 gross ($533.69 net). My wife also received $1,072.85 in auto
allowance / mileage reimbursements, $600 in gym reimbursements and $46.99 in internet
reimbursements. We also Read more [...]
January 2020 Net Worth Update (+17,380.49)
OverallJanuary was an amazing start to 2020! We were blessed to pass our net worth milestones of $830K and $840K this month. Our net worth increased $17,380.49 from last month to a total of $847,085.85 (see spreadsheet screenshot).
Retirement AccountsOur retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 7% to my wife’s 401(k). My wife’s company matches up to 5% of her 401(K) contribution (100% vested when deposited) and chips in Read more [...]
2020 FINANCIAL GOALS
Happy New Year! Somehow I forgot to post our 2020 financial goals earlier this month. 2019 was an amazing year and we hope to conquer some exciting financial goals in 2020. Here they are:
1) Pass our 2024 Net Worth Goal We ended 2019 with a net worth of $829,705, over 4 years ahead of our 2019 net worth goal. We would like to maintain this lead and end 2020 with a net worth over $891,500 (our 2024 net worth goal).
2) Increase total retirement savings to $475K
We ended 2019 with $386K Read more [...]
NET WORTH MILESTONE: $840K
We passed our net worth milestones of $840K this month! Our net worth is currently $848,551. We passed our last net worth milestone of $830K earlier this month. We hope to reach out next milestone of $850K next month.
REVIEW OF 2019 FINANCIAL GOALS
Review of 2019
Financial Goals
Happy New Year! We had a blessed year and
did pretty good on our financial goals. Here
they are:
1) Pass our 2022 Net Worth Goal - SUCCESS We’ve been tracking 3 years ahead of our net worth goals and were able to increase this trend to 4 years ahead of our goals in 2019. We ended 2019 with a net worth of $829,705, well above our 2019 goal ($510K), 2020 goal ($575K), 2021 goal ($645K), 2022 goal ($721K) and 2023 goal ($803K). Amazing!
2) Read more [...]
NET WORTH MILESTONE: $830K
We passed our net worth milestones of $830K this month! Our net worth is currently $832,764. We passed our last net worth milestone of $820K last month. We hope to reach out next milestone of $840K next month.
December 2019 Income Statement
In December, we had one of our largest income months ever and
a reasonable expense month too, considering our income (see spreadsheet
screenshot). Thank God for our blessings!
Our total income in December was an amazing $32,598.24! This was our 3rd largest income
month ever (larger months were: $37,327.14 in Feb 2014 and $35,641.77 in Sept 2017).
In addition to our regular paychecks, I received a monthly bonus of $1,950
gross ($1,084.39 net) and my wife received a quarterly bonus of $19,500 Read more [...]
December 2019 Net Worth Update (+29,555.75)
Overall
December was another HUGE month
for our net worth. Our net worth increased
$29,555.75 from last month to a total of $829,705.36 (see spreadsheet screenshot). We passed our net worth milestones of $810K
and $820K in December! We nearly passed
$830K too! What a great way to end the
year!
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our
Roth IRAs and our Traditional IRAs. We
contribute 7% to my wife’s 401(k). Read more [...]
NET WORTH MILESTONE: $820K
We passed our net worth milestones of $820K this month! Our net worth is currently $821,900. We passed our last net worth milestone of $810K earlier this month. We hope to reach out next milestone of $830K by February.