Pass our 2014 Net Worth Goal - 1 Year Early

We passed our 2013 net worth goal of $173,200 back in August, which was great news in and of itself.  I'm happy to report today that we passed our 2014 net worth goal of goal of $211,000. 

Our net worth is currently $211,414.01, so we are one year ahead of our plan.  Below is a list of our goals and our progress thus far (click on spreadsheet).

Net Worth Milestone - $210,000

Today we passed the $210,000 net worth milestone! Our net worth is currently $210,065.

We passed our last milestone of $200K in November. Based on my forecasts, we should hit the next net worth milestone of $220K by June.

I will update our net worth meter (on the left side of the screen) at the end of the month.

November 2012 Income Statement

November was a wild ride.  Our income was near record breaking (for us), our expenses reasonable by comparison, and my wife’s company laid off the entire national sales force (click on spreadsheet below). 

Our total income for November was $19,454.47, our 2^nd largest income month since we began tracking in 2007.  My wife received a third “extra” paycheck this month, an awesome quarterly bonus of $11,150 gross ($8,182.69 net), and was paid out 33.25 hours PTO $1,154.55.   In addition, my wife received a $61.99 in company reimbursements.  We also received $75.00 in credit card cash back rewards, $18.40 in a BofA judgment, and we earned $3.37 in interest income from our online savings account. 

In November, we spent a total of $11,506.85 ($2K of which was tithe).  Some of the larger non-standard expenses were: $1,028.48 for a generator and $309.69 for a laptop.

Next month (December) will be little unpredictable.  My wife receives her final paycheck that includes: 1 week pay and 1 week severance with the possibility of an additional 6 days severance and $500 (based on the return of the company car and company property).

 

November 2012 Net Worth Update (+18,666.21)

Our net worth increased an amazing $18,666.21 from last month, to a total of $207,920.17 (click on spreadsheet below).  This puts us at 120.05% of our 2012 net worth goal of $173,200.

What Worked

Sadly, my wife was laid off this month, but not before contributing to our net worth in a big way.  She earned a quarterly bonus of $11,350.00 gross ($8,182.69 net).  We tithed 10%, put $6,500 into savings, and are keeping the balance in our checking account.  In addition to the bonus, her company automatically 100% vested her in her 401(k) match and profit sharing.  We didn’t expect to see any of this ~$6,000 because she was only with the company for 1-1/2 years.  This blessing increased our total retirement accounts balance ~10%!  We contributed a total of $3,021.83 to our retirement accounts and saw them increase $9,321.16 to $74,552.93 total.  We also contributed $1,500 to our son’s 529 Plan this month.  Busy month!

What Didn’t Work
My wife’s company laid off the entire sales force, so we focused on putting money into savings. 

Next Month
Next month is a big question mark.  My wife will be officially unemployed after she receives her last paycheck on 12/14.