FY 2016 Goal Update: June Progress

FY 2016 Goal Update June Progress _ AnythingYouWantBlog.com

Well, friends, it has been one year (and 8 days, sorry for the delay. I’m definitely not in Paris anymore!) since I started my ambitious net worth goal. I am proud to say that I not only met my goal, but I actually exceeded it in nearly every category. 

Net worth goal June update _ AnythingYouWantBlog.com

Here is how the numbers break down:

Category

Goal Increase Actual Increase Difference

Overall Net Worth

46% 62% 16%

Cash Savings

-11% -2%

9%

Non-retirement Investments 271% 258%

-13%

Retirement Investments 22% 45%

23%

Overall, I am very happy with these results. I was off on two categories: cash and non-retirement investments. I can’t really be upset about the cash – I wound up with slightly more than planned. That is a good problem to have! I also can’t be upset about the investments as that was a huge stretch. I came really close, so I’m happy.

The  Next Challenge

I have been thinking a lot about where I go next with this. I don’t have any immediate savings goals, such as buying a house or a car. I am feeling a little aimless with my saving, which is always a very dangerous thing. If I don’t feel like my savings are going towards something, I’m much more likely to spend more.

I need your advice, friends. What should my next savings goal be? How do I motivate myself without a concrete goal in mind? 


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3 thoughts on “FY 2016 Goal Update: June Progress

  1. I think you need a goal. For a while, we were saving for saving’s sake and kind of ran out of ideas of what to do with the money, so it was all sitting in CDs and there wasn’t the motivation to really kick it up many notches. We used the matured CDs as a down payment on a house. Now our plans are to retire early, and I know better than to just leave a bunch of cash in taxable CDs.

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      • I just sort of stumbled on it. “Hey, we’re going to have a lot of money in a few years.” Like I said, we were saving for saving’s sake. Then I started reading Mr. Money Mustache and the puzzle parts came together. And I’ve always tracked my expenses, so I know how much we would probably use in retirement. Then once you save up 25x that amount, you’re good to go. Hypothetically! I also have a big convoluted spreadsheet that also includes rental property income, my future pension, and calculates how long our investments would last based on whatever spending level you put in.

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