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? :-)