Friday, December 28, 2012

2012 Year End Net Worth

I try to capture my net worth on a semi-regular basis, but I'm not very successful. ;-) The end of the year seems like a good time to track this, so here goes!

You can see my 2011 net worth post here. Our net worth on 1/1/12 was $807,149.

Our net worth as of today is $933,487. A few things that have helped us this year - we've been steadily paying down our mortgages (across two properties) & property values are up substantially in our area (more than 12% near us).

I do believe we can hit the million dollar net worth mark by the end of 2013. Won't that be a fun moment? I'll have a little personal party, crack open the bubbly & think about other ways to save so we can retire early. :-)

Things to note:
  • M is 45, & I'm 36.
  • I've been maxing my 401K since I was 22. Between the two of us, we have around $600K in our retirement portfolio. Our goal is to have a sizable retirement fund ($6 million? I don't know exactly at this point) so we can retire early.
  • I got lucky & hired at large company just out of college.
  • I receive stock options & a performance based bonus, yearly.
  • M & I both make healthy salaries.
  • We own two properties - one is our primary residence, one is a vacation home.

And, I'm behind (again!) on posting my budget categories, so here's a double whammy again today.
In accordance with my plan in December to really dissect our 2013 budget & areas for cutback, I'm posting about one category per day. So far, I've covered mortgage interest (and a potential refi), our grocery budget., dining out, kids activities, gas, utilities at our vacation house, & utilities at our primary residence, clothing, travel, child care & personal spending, health & house, gifts & car maintenance.

Today's topics for discussion are . . . the very specific category of boys (miscellaneous & liquor). 
  • Boys (Misc) - this is a catch all bucket for any expenses for the kids that don't fit into clothing or activities. A new bike, admission to an event, etc, all fall under this. I feel like part of this money is wasted- a new toy when we're out, etc. There's nothing wrong with a little of that, but I feel like we didn't pay close enough attention to this category in 2012 - average expense was $103. Goal for 2013 is $25.

  • Liquor - M & I have a glass of wine, a beer, or a mixed drink a couple of times per week. We also frequently bring drinks or wine to events. We travel to attend most family events, & bringing food can be trickier. We spent $55/month in 2012 (mostly on wine, I suspect) & our budget for 2013 is $20. We just need this to be less, and have to drink wine we're not terribly fond of (oh, the horror! ;-)) or do without. It's healthier & better for us anywhere.

    Do you track your net worth? How did 2012 treat you? Any goals for 2013? Do you have any dumping ground categories? I clearly need to make this one more specific. And, do you have any vices, like wine? :-)


    1. Regarding the liquor budget - I suggest you do a taste testing of some less expensive wines - find a winner and bring that one every time! I have come across some great inexpensive wines that we drink on a regular basis. This year I started drinking pear cider instead of wine and it is extremely inexpensive and very tasty. Cheers!

      1. We actually drink a wine that's under $10/bottle, so nothing terribly expensive. I do love pear cider though, that sounds great!

    2. Net worth, we had a great growing year. Started at 425,000 ending up around 575,000. Started the year with each getting a nice bonus, selling a house out of state, selling an extra car, socking away in our 401ks and Scottrade account, growing dividends and reinvesting, receiving a surprise financial gift from family and boom shaka laka, happy dance :) Pretty sure 2013 will be no where near that much of a jump.

      Pretty sure you'll hit 1,000,000 in 2013! Whee! According to my projections, we'll have 1M in net worth 2016 or 2017.

      I just include liquor in my grocery budget. We enjoy a glass of wine or cocktail most evenings.

      1. Wow - great work! That's a huge jump. :-) I would totally enjoy a glass of wine each night if it wasn't for the calories. And, the price, of course. :-)

    3. good on you! you've obviously both worked hard and been disciplined to achieve a net worth like that at your age.
      I try and track at Networth IQ but often forget to update. Vices? well DH has his cycling 'stuff' and I'm a chocaholic :)

      1. Oooh, is your DH a road biker? Gear can be very expensive! We spend a lot on groceries, but typically spend it mostly on produce. My Dh is not into snacking & desserts, & I just feel guilty eating chocolate in front of him. he doesn't understand the appeal. :-)

    4. We hardly buy alcohol, but I look out for a good offers when I need to. We usually gift a bottle of wine when we visit my in laws so I keep a few bottles just for that purpose.

      Your net worth progress is great - Yay for reaching $1m in 2013! :)

      1. You are better than me with the alcohol. It's a nice relaxer after a long day with the kids. ;-)

        Thanks - fingers crossed!

    5. Wow.. that's awesome & inspiring!! :) No, we don't track our net worth, I assume its very low. lol! That's ok though, we always have "enough", and for that i'm grateful.