I’m going to start my first post off with a financial goal. In 18 months, I will have a net worth of $1,000,000.
I believe this is achievable with some modifications to my current habits to help me grow the gap between income and spending. I look forward to reading tons of books and blog posts on personal finance and sharing everything I learn with you along the way. My current net worth is just north of $650,000, so I’ve got to put away $350,000 over the next 18 months to hit my goal. At almost $20,000 per month, that will be no small feat. To see how I got to where I am today, let’s take a look at my net worth for the past 10 years.
| Year | Net Worth | Notes |
|---|---|---|
| 2008 | -$4,200 | Started grad school and funded a Roth IRA |
| 2009 | -$9,400 | Student loans |
| 2010 | -$15,200 | Student loans |
| 2011 | -$19,500 | Still more student loans |
| 2012 | -$1,100 | Quit grad school and got a real job |
| 2013 | $1,200 | 1st Promotion |
| 2014 | $900 | Bought a used Prius for $10,000 with 20% down |
| 2015 | $91,000 | RSUs begin to vest from starting bonus and promo |
| 2016 | $253,000 | Promoted again |
| 2017 | $508,000 | Our first child was born |
| 2018* | $655,000 | *Current as of October 10th (post market correction) |
I’m not very mustachian, so the first thing for me to tackle will be my spending habits. Stay tuned as I learn how to create a budget that I can actually stick to and figure out creative ways to save money without sacrificing happiness.
What are your financial goals? Share in the comments below.