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This blog was started back in 2005 to track my journey to financial freedom. I set out with a very specific goal and a measuring stick to track my/our progress. Given the the major recession we look to be recovering from are we still on track to reach our goals?
Here is a graph of my/our monthly net worth since I began tracking it in 2001:
The graph is pretty uplifting. It shows strong nearly exponential grow of our net worth with a significant blip in 2008/early 2009, but a quick and strong recovery (at least so far). Everything we are doing seems to be working overall. Of course I expect the curve to slow significantly down with all the recent changes in our family (house, baby, 1 income).
Back in 2005 I also created a measuring stick so we would know how we are fairing against our long term financial goal. Here is how we are doing:
| Net Worth Target | Year | Age | EOY Result 12/31 |
| | | | |
| $21,000 | 2001 | 25 | |
| $45,360 | 2002 | 26 | $ 44,000.00 |
| $73,492 | 2003 | 27 | $ 88,000.00 |
| $105,852 | 2004 | 28 | $ 155,736.61 |
| $142,949 | 2005 | 29 | $ 206,900.00 |
| $185,347 | 2006 | 30 | $ 317,904.00 |
| $233,671 | 2007 | 31 | $ 455,500.00 |
| $288,614 | 2008 | 32 | $ 445,673.00 |
| $350,946 | 2009 | 33 | $ 601,100.00 |
| $421,520 | 2010 | 34 | |
| $501,280 | 2011 | 35 | |
| $591,272 | 2012 | 36 | |
| $692,655 | 2013 | 37 | |
| $806,712 | 2014 | 38 | |
| $934,862 | 2015 | 39 | |
| $1,078,676 | 2016 | 40 | |
| $1,239,891 | 2017 | 41 | |
| $1,420,429 | 2018 | 42 | |
| $1,622,413 | 2019 | 43 | |
| $1,848,191 | 2020 | 44 | |
| $1,848,191 | | | |
We are still well ahead of the measuring stick. Ofcourse the measuring stick is very skewed on the last couple years and very dependant on strong investment returns for those years. However its purpose is to tell us whether we are on track and currently we feel pretty comfortable that we are.
Related in Financial Goals:
Mid-Way Point in Our Journey to Financial Freedom (Nov 11, 2011) I recently celebrated my 10yr anniversary at my employer and I realized we are roughly halfway through our journey to financial freedom (10 years into a 20 year plan). With our $2 million net worth goal as a guidepost and...
Financial Freedom Plan and our Net Worth Goal (Oct 05, 2011) I recently laid out our rough plan for how we plan to generate income once we become financially free. This plan suggests we'd be able to generate between $40k-$76k+ per year which should cover our annual expenses. Next I want...
Pieces of our Financial Freedom Plan Falling Into Place (Aug 31, 2011) One thing I have been pretty vague so far is how we are going to fund our financial freedom. Just because we have a goal to reach a net worth of $2million doesn't automatically mean we will be anywhere close...
Comments (5)
2million - I really enjoy your blog. Thanks for posting this overview. I'm not as young as you but am also targeting the same goal. Your overview was really helpful.
Posted by Another IBMer | January 6, 2010 2:33 PM
can you please share the excel for forecasting your networth? Thanks.
Posted by unimax | January 6, 2010 6:02 PM
Congratulations, you appear to be doing something right. I will have to read more of your blog to find out what you are doing to be so successful. Good Job!
Posted by Steven R Dison | January 6, 2010 11:37 PM
Great job! You've exceeded so many of your monthly net worth goals. What's your secret?
Posted by Joe | January 7, 2010 2:13 AM
Great progress indeed!! Congratulations! I was just looking at my own graph for the past 5 years.....I think ours look very similar; especially the "blip" from the market downturn and the recovery that followed. Keep up the great work!
Posted by Ryan | January 7, 2010 6:14 PM