Another year in the books, with a wild finish. Let's hit the numbers first, and then get on to a range of personal and career news.
Here's how the end of 2017 looked, when compared with the end of 2016:
==============================================================
$205,000 Annual Combined Income - $218,600
$80,000 Roth - $90,100
$77,000 Taxable Brokerage - $83,500
$46,000 Rollover IRA - $52,900
$169,500 401k (Combined) - $255,700
$31,200 IRA/Roth IRA (College Savings) - $43,500
$21,000 Cash/HSA - $182,300
Primary Residence: $201,600 Debt ($218,400 Equity) - SOLD - $23,000 Equity in New Home
Rental Property: $135,600 Debt ($14,000 Equity) - $99,000 Debt ($51,000 Equity)
NET WORTH END 2014: ~$354,100
NET WORTH END 2015: ~$489,300
NET WORTH END 2016: ~$657,100
NET WORTH END 2017: ~$805,000
2014 Annual Expenses: $57,600
2015 Annual Expenses: $57,300
2016 Annual Expenses: $71,715
2017 Annual Expenses: $76,690
2014 Annual Savings: $71,850
2015 Annual Savings: $90,120
2016 Annual Savings: $81,560
2017 Annual Savings: $98,830
2014 Annual Savings Rate: ~55%
2015 Annual Savings Rate: ~61%
2016 Annual Savings Rate: ~53%
2017 Annual Savings Rate: ~56%
==============================================================
2017 Goals & Results
Annual Combined Income: $180,000 - Beat by $38,000
Annual Expenses: $66,000 - Missed by $10,690
Annual Savings: $63,900 - Beat by $34,930
Annual Savings Rate: 49% - Beat by 7%
Net Worth: $750,000 (Modified to $825,000) - Missed modified by $20,000
$44,000 401k (including Company Matches) - DONE - $44,362.12
$6,400 House Principal Payoff - DONE - SOLD + $6,287.77 Rental Principal
$12,000 Reinvested Dividends - DONE - $20,158.50
$11,000 Roth (Combined) - DONE - $11,000
$6,800 HSA - DONE - $6,850
$80,000 TOTAL - DONE - $88,658.39 (Excluding Sold Home)
I feel great about these goals, having only missed two, both for very good personal and financial reasons.
==============================================================
2017 Recap & Notes
So, as you can see in the numbers section, we sold our primary home. It feels pretty weird to type that, as in my Q3 update, I was waxing poetic about how we recently refinanced and were adding a major patio/deck extension. Thankfully, we had NOT ripped out the old deck when my wife was re-approached by a company she interviewed with earlier this year. They offered her a position that effectively amounts to her dream job, along with a nearly 50% raise, with one caveat: relocation. Fortunately, the location is part of the dream, and we accepted the position.
So, in a span of 6 weeks, we accepted a new job, researched housing and schools online, did a blitz of a local house search, signed a contract on a new house, listed our existing home, went on a week long vacation, sold our home while on vacation, sold the majority of our furniture, found a short term rental, packed up the rest of our stuff and moved. (Oh, and my car was hit and totaled two weeks before the move, but that managed to just be a blip on the overall radar, especially since no one was injured.)
The whole thing was a whirlwind, but we have already settled in nicely, my kids are very happy in their new daycare program and we really feel great about the change.
Our net worth definitely took a hit with some of the costs associated with selling the old house and unexpectedly purchasing a new (CPO) vehicle, and we'll have more of those costs with buying and setting up our new house. However, with my wife now planning to work for years to come, a major salary bump, and living in a place with no state income tax, the net worth should recover at a fairly brisk pace.
==============================================================
2018 Notes & Goals
2018 should be fun. We'll spend the majority of the year settling in to our new location, and we're expecting to move in to our new "forever home" in the June/July time frame. My son will start Kindergarten in August, and we have a cruise planned for November.
So, unless we have another dramatic shift somewhere in 2018, I'm expecting an increase across the board. Income is going up, expenses will increase with the new house and continued daycare, but the overall savings rate should still hover around 50%. For net worth, I'm still curious when we'll have a market correction, so I'm playing it safe but will reevaluate mid-year.
Annual Combined Income: $225,000
Annual Expenses: $90,400
Annual Savings: $91,400
Annual Savings Rate: 49%
Net Worth: $900,000
$39,700 401k (including Company Matches - No match at the new company, yet)
$2,300 House Principal Payoff
$4,300 Rental Principal Payoff
$13,500 Reinvested Dividends
$11,000 Roth (Combined)
$3,400 HSA__________________________
$74,200 TOTAL
Here's to 2018! Thanks for following along.