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December 2016 retirement goal progress

December 30th, 2016 at 12:39 pm

Goal: $479,875 by 2019

(As a reminder, this is just an incremental goal along the way to 8x income by retirement. This mini-goal aims to get us to a milestone by the time I turn 45 and AS turns 40.

The milestone is to get me to 3x my current salary, which is now $66,625, so $199,875; NT to 3x his, which is now $60,000, so $180,000; and AS to 2x hers, which this year is projected to be $50,000, so $100,000)

Current balance: $297,419

September 2016 balance: $289,384

Progress: $8,035

Another big bump this month, though as I mentioned in the previous entry, I take it with a huge grain of salt.

To reach the goal by our birthdays in 2019, that's 26 months, so we'd need to contribute (or have assets appreciate) $182,456 -- $7,017 per month -- to reach it. Oh, and when NT's raise kicks in, the goal will get more ambitious so we'll need more per month to reach it. Oh, and I'll raise AS's salary on the next calculation since she made over $51K this year. Yeah, that's probably not going to happen, but I'll keep doing the best I can!

2 Responses to “December 2016 retirement goal progress”

  1. livingalmostlarge Says:

    Good luck! Sounds like a great plan.

  2. alice4now Says:

    So your goal is now considered a "stretch goal", but as life twists and turns, you may very well find ways to reach it anyway. You are a smart cookie, I bet you find a way! Smile

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