Our net worth decreased by $65K in 2022. This works out to $15K cash spent (college, new mattress, MH's movie and film festivals, etc.) & a $50K decrease in stocks. I am depreciating our autos aggressively but that is offset by mortgage paydown. Home values remain steady.
Re: my sidebar big picture goal, this leaves $120K to come up with in the next 4 years. Considering that our goal was to increase net worth by $60K every year... We are still very on track. What goes up, most come down. We started out this goal with some prosperous years, and of course expect to have some down years.
I am looking it up and I have $35,000 of kids' gift money sitting in investments in our name (included in our net worth). In addition to $40K I have loosely earmarked for college. That's $75K we may be drawing down over the next 4 years. So it may be more realistic that we need to come up with $195K (120K + 75K) over the next 4 years, to stay on track.
Estimate Net Worth Change for 2023:
Mortgage: Paydown $10,000 <--Regular payments + $2,000
Retirement: Contribute $24,000
Investment Gains: $22,000 <---Investments doing the hard work for us
TOTAL INCREASE: $56,000
Our net worth changes never look anything like our estimate (it's rare any asset class actually has an average year). But, I go through this exercise just to make sure my goal is realistic and doable.
Retirement gets a boost re: extra $1K we can contribute to IRAs in 2023 (new contribution limit), in addition to getting a raise boost. We both do 9% to our 401K (with match), which will be a bigger dollar amount re: 2023 raises.
Overall, I am happy with things. Our asset allocation is appropriate for our risk tolerance. We were also able to keep our net worth at a solid seven figures.