Goal: $489,745 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 (which changes whenever our salaries change) is to get me to 3x my current salary, which is now $66,625, so $199,875; NT to 3x his, which is now $62,100, so $186,300; and AS to 2x hers, which in 2016 was $51,785, so $103,570)
Current balance: $304,883
December 2016 balance: $297,419
Progress: $7,464
Another decent-sized bump this month, though as I mentioned in the previous entry, I take it with a huge grain of salt. However, AS's and NT's salaries increased, so the goal got more ambitious and we actually lost a bit of progress on it.
To reach the goal by our birthdays in 2019, that's 25 months, so we'd need to contribute (or have assets appreciate) $184,862 -- $7,394 per month -- to reach it. Probably not going to happen, but I'll keep doing the best I can!
Retirement goal progress
January 31st, 2017 at 03:55 pm