Here are my initial set of goals. These goals are based on my retiring in 2032 at age 67. We are debt free except for the mortgage on our primary residence. So no need to worry about debt reduction.
Long-Term (25 years)
- Accumulate $3,000,000 in securties and cash equivilents
- Have #1 generate a monthly income equal to $5,000 in July 2007
- Payoff mortgage on primary residence
Mid-Term (5-16 years)
- Pay for college for my two kids
- Generate enough passive and investment income to finance my wife’s and my Roth IRAs
Short-Term (1-2 years)
- Generate enough passive and investment income to finance my Roth IRA
- Continue contributing to my work 401K
- Start growing our brokerage account to meet out short and mid-term income goals
|
Net Worth
|
Alternate Income
|
This is a snapshot of our current situation. Current net worth does not include any personal property or our primary residence. Alternate income includes all sources of passive and investment income.
Monthly Progress
|
Date |
Net Worth |
Change |
% |
Alt Income |
Change |
% |
|
| July 13, 2007 |
$304,813 |
— |
— |
$136 |
— |
— |
|
| August 1, 2007 |
$292,259 |
-$12,554 | -4.12% |
$154 |
$18 |
13.24% | |
| September 1, 2007 |
$297,502 |
$5,242 |
1.79% |
$161 |
$7 |
4.55% |
|
| October 1, 2007 |
$312,843 |
$15,341 |
5.16% |
$165 |
$4 |
2.48% |
|
| November 1, 2007 |
$317,479 |
$4,636 |
1.48% |
$173 |
$8 |
4.84% |
|
| December 1, 2007 |
$313,173 |
-$4,306 |
-1.36% |
$168 |
-$5 |
-2.89% |
|
| January 1, 2008 |
$309,801 |
$3,371 |
-1.08% |
$168 |
$0 |
0.00% |
|
| February 1, 2008 |
$296,784 |
-$13,017 |
-4.20% |
$160 |
-$8 |
-4.76% |
|
| March 1, 2008 |
$298,515 |
$1,730 |
0.58% |
$142 |
-$18 |
-11.25% |
|
| April 1, 2008 |
$279,042 |
-$19,473 |
-6.52% |
$110 |
-$32 |
-22.54% |