Ambitious financial goal for 2009

While I haven’t worked out the details for exactly where the money will go, the experience of revising my net worth chart this morning has informed me about what my overall goal is for next year.

I hope to boost our current net worth of $59,390 to over $100,000. That’s a massive increase, I know. But I think it’s achievable in a few ways:

1) Hopefully, we won’t see further retirement account drops, and if they do happen they won’t be so severe. Because of my aggressive portfolio type and the fact I am not working therefore not contributing so far this year, the value of my retirement went from around $27,000 to $19,000 and was only partially saved by the government co-contribution scheme her in Australia, which effectively added $2500 in after-tax money. If anything I hope our retirement accounts remain stable at the least.

2) We’re planning to effectively bank my whole income this year and then some. Since I’m supposed to earn $57,000 (and this could be as much as $70,000) gross, the after-tax portion should be applied to savings and the like.

So you see, it should be achievable as long as we use discipline. I am looking forward to the next phase of our lives.

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1 Comment »

  1. […] already stated that my overall goal in 2009 is to get our net worth above $100K. If we meet these goals, we’d more than meet that […]

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