Year over Year Changes/history:
- 2012 -Here is our 2012 year end net worth. Cutting to the chase, our net worth at the end of last year was $933,487.
- And, our 2011 year end net worth. Executive summary - net worth at the end of 2011 was $807,149.
2013 End of the Year Net Worth -
Drumroll . . . $1,234,033. We're up almost exactly $300,000 from last year - helped primarily by the giant uptick in the stock market, and paying down our mortgages.
Here are the nitty gritty details (note that we don't include employer stock options, as they are on an extended vest):
Liabilities:
-$939,808 (property loans). We're below the $1 million mark! Woohoo!
Assets:
+Seattle house value - $1,045,000
+Vacation house value - $400,000
+Retirement savings - $701,616
+Cash - $28,505
Total assets = $2,175,124
Assets - Liabilities = $1,234,033.
All told, we're up almost 200% since our first official tracking in September of 2010, when our net worth was $628,009. I would like to retire (meaning, move to a part-time job) at 50, which is 13 years away. My health will dictate if this is realistic. M has no plans of retiring, and he'll be 47 this year.
We have lots of plans for the year ahead. . . we hope to sell our vacation house (well, plan to, I certainly don't hope to sell it, but you know what I mean), continue to accumulate cash so we can purchase a home in California, & potentially adjust our retirement savings over the next few years so we can build a downpayment.
Do you track your net worth? What are your plans to increase it this year?
I sort of track my net worth, even though it's a grain of salt compared to yours! It is mostly made up my 401k account, which had a pretty good year (up 29%!). In all, including retirement accounts, I have close to $20,000. It definitely beats when I first started in 2011, and it was very negative. I hope to get a lot more in cash reserves vs just retirement funds, which I am restricted to touch, and really, I shouldn't touch it until retirement.
ReplyDeleteI always hit Enter too early... but many congrats on yours! That's a huge increase in 3 years! Imagine your progress by the time you retire in 13yrs!
DeleteThanks - I think we'll start to diversify more. I'm a little nervous about having so much tied up in the stock market.
DeleteGreat job on the increase! Wow!
ReplyDeleteOur 401Ks went up too, but not quite that much. Are you keeping the Seattle home? I think I missed something here when you made the move. Why are you keeping the Seattle home?
Anyway, good luck in 2014. It sounds like you have a great plan!
Thanks. :-) We're keeping the Seattle house as a rental investment. Our interest rate on the mortgage is extremely low (2.5%). We're trying it for a year, and then going from there. As part of our relocation, there's also an advantage in keeping the house - we get reimbursed for three months of interest, tax and insurance, with no exemptions if you're renting it out.
DeleteCongrats on your big net worth and savings. The more you make the more you feel pressure to spend. We are a few years behind you, but I am very happy where we are. I have only been keeping track since 2012 then the net worth was $576K and the end of 2013 was $702K, nice boost with the market. This year I will be happy if we can get to around $800K, but the big one will be when we hit the $1M mark! Wheee! Plus we live where the cost of living is much less than you, so our money tends to go further, though our salaries are quite a bit less to, so it kind of all balances out. We both want to retire, or like you at least go down to part time. I would feel confident doing that once the net worth gets to $2M, which my my calculations could be as early at 2020 or 2021, depends on the market and how much we enjoy the journey :)
ReplyDeleteYou're doing great! I think at this stage, we're really focused on expense reduction, and understanding how to use our assets to benefit us. We focus quite a bit of time on not increasing our expenses, but should spend at least as much on asset management. We're not there yet. ;-) I'm expecting our net worth to change quite a bit over the next year or so as we take on additional debt to buy a house in California. We shall see!
DeleteIncredible numbers! :) I keep reading that the Seattle housing market is really on the upswing again ... sounds like you might realize a really nice profit when you do sell.
ReplyDeleteWe track our net worth ... plans to increase it in 2014 just include our regular retirement contributions and paying down debt.
Thanks! Yes, the market in Seattle is doing well, so we're holding on to the house for a while. We are hoping it will be cost neutral (rent offsets payments) this year, with a potential to make money on it in the next few years.
DeleteGreat job HP - especially as you had so much going on! Here's to a great 2014 :)
ReplyDeleteThank you! Super excited about the year ahead. :-)
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