Another year in the books, this time with a stellar finish.
Here's how the end of 2019 looked, when compared with the end of 2018.
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$264,600 Annual Combined Income - $281,100
$93,940 Roth - $124,820
$73,430 Taxable Brokerage - $90,300
$52,110 Rollover IRA - $71,180
$274,960 401k (Combined) - $399,800
$48,450 IRA/Roth IRA (College Savings) - $70,640
$76,920 Cash/HSA - $81,530
Primary Residence: $340,000 Debt ($195,000 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
NET WORTH END 2018: ~$783,810
NET WORTH END 2019: ~$1,033,270
2014 Annual Expenses: $57,600
2015 Annual Expenses: $57,300
2016 Annual Expenses: $71,715
2017 Annual Expenses: $76,690
2018 Annual Expenses: $84,820
2019 Annual Expenses: $95,520
2014 Annual Savings: $71,850
2015 Annual Savings: $90,120
2016 Annual Savings: $81,560
2017 Annual Savings: $98,830
2018 Annual Savings: $121,710
2019 Annual Savings: $125,570
2014 Annual Savings Rate: ~55%
2015 Annual Savings Rate: ~61%
2016 Annual Savings Rate: ~53%
2017 Annual Savings Rate: ~56%
2018 Annual Savings Rate: ~59%
2019 Annual Savings Rate: ~57%
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2019 Goals & Results
Annual Combined Income: $240,000 - Beat by $41,100
Annual Expenses: $100,000 - Beat by $4,480
Annual Savings: $86,800 - Beat by $38,770
Annual Savings Rate: 46% - Beat by 11%
Net Worth: $850,000 - Beat by $183,270
$42,000 401k (including Company Matches - No match at the new company, yet) - DONE - $44,590
$5,200 House Principal Payoff - DONE - $15,000
$15,000 Reinvested Dividends - DONE - $23,770
$12,000 Roth (Combined) - DONE
$3,400 HSA - DONE__________________________
$77,600 TOTAL - DONE - $98,760
Could not feel better about these goals, and I'm slightly embarrassed by the $850K NW goal. That goal was left in the dust months ago, and we have found ourselves on the right side of the two comma club. The $250K increase from last year is a tremendous number to see as a reality on the screen.
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2019 Recap
This was a really great year. We went on several nice vacations, continued to advance in our careers and the kids are happy and doing well in school.
In my last update, I mentioned the surprise of a promotion at work. Only one quarter later, I can mention another surprise, as I have accepted and started a new job. I wasn't looking and had no intentions of leaving, but this was just good of an opportunity to pass up, with strong upward mobility. The 35% raise in base salary didn't hurt, either.
As a Christmas present to ourselves, we got around to one of the projects we have been discussing since before we even closed on our home. We found a great contractor and had a built-in entertainment wall installed in our great room, with a combination of cabinets, bookshelves and lighting. It has completely transformed the feel of the room, and it was a dramatic step forward in making this house a home.
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2020 Notes & Goals
2020 is poised to be one of our best years yet. We're going on another cruise for my little girl's birthday next month, and we booked an 8-day for the holiday season.
Having completed our first full year in this house, I feel like I have a good grip on the overall budget. We're planning another one or two projects with the same contractor, which will take a bite out of the budget, but we know it will be well worth it.
I'll be focused on finding my groove with the new job, but one month in, I'm already confident it was a good move.
Annual Combined Income: $300,000
Annual Expenses: $95,000
Annual Savings: $135,000
Annual Savings Rate: 58%
Net Worth: $1,200,000
$45,000 401k (including Company Matches)
$10,000 House Principal Payoff
$23,000 Reinvested Dividends
$12,000 Roth (Combined)
$4,800 HSA__________________________
$94,800 TOTAL
On to 2020! Thanks for following along.