Category Archives: Goals

Net Worth Milestones

To achieve our net worth goal of $1.5M in 20 years, we need a plan. Below are our net worth goals for each year (click on spreadsheet to enlarge). This plan assumes an average annual return of 8%, and our ability to increase our investments as our careers develop.As you can see, if we are able to hit our targets, we are still almost $300K short of our $1.5M goal. I guess that’s why they call them "stretch" goals. Read more [...]

Target Retirement Date

Our ideal target retirement date is 2027, twenty years from now, when I am 52 and my wife is 43. Realistically, this goal is going to be a stretch, but we have a long enough time frame that I think it is possible under favorable conditions.If we believe that we can live on $60,000/year when we retire, then using a 4% Safe Withdrawal Rate (SWR), our nest egg goal is $1.5M. However, with inflation averaging 3.43% annually, our nest egg may need to be substantially larger.We will refine and better define Read more [...]

Short Term Financial Goals

Below are some of our short term financial goals (1-5 years). I have checked off the items we have completed. a Pay off 401K loana Pay off credit card debt with rate interest over 0%a Save up 2 weeks worth of vacation (in case of job loss / unable to work)Pay off 0% interest rate credit card debt Open and fully fund Roth IRA for wife Open and fully fund Roth IRA for husband Sell Car 1 Pay off Car 2 10% (of gross income) contribution to 401(k) Build emergency fund to $12,000 We’ll be selling Car Read more [...]