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Net Worth Update

January 7th, 2024 at 05:16 pm

Our net worth increased by $90K in 2023.  This works out to $25K retirement contributions & a $65K increase 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 $30K to come up with in the next 3 years.  

I am looking it up and I have $32,000 of kids' gift money sitting in investments in our name (included in our net worth).  In addition to $38K I have loosely earmarked for college.  That's $70K we may be drawing down over the next 4 years.  So it may be more realistic that we need to come up with $100K (30K + 70K) over the next 3 years, to stay on track.  

Estimate Net Worth Change for 2024:

Mortgage: Paydown $10,000  <--Regular payments + $2,000

Retirement: Contribute $24,000

Investment Gains: $26,000  <---Investments doing the hard work for us


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.

I am just presuming that other savings/investing and college spending will mostly be a wash.  As I type this out, just wondering aloud if I should adjust this estimate downwards.  But as I think it through, 2024 will likely be a wash.  It's going to be a much bigger college hit in 2025 or 2026.

Edited to add:  Originally reported a $85K net worth gain but significantly underestimated my 401K gains in 2023.  Holy cow!  

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