Financial Goals-
- Fully fund my Roth IRA ($6,000), 401K ($19,000) and HSA ($3,000) accounts. – PASS; Roth IRA and HSA were fully funded and 401K was funded up to $18,871. I could have fully maxed out the 401k ($19,000) but when I realized I would be under, I tried to increase it as much as possible. Since I had to contribute in whole numbers, if I had contributed enough to get to max out the account, I would have gone over the IRS limit and would have been penalized.
- Contribute to my company ESPP. – PASS; $8,162.46 in total contributions (approx 8% of salary contributed)
- Set aside at least $2,100 total to allocate to my taxable brokerage and housing down payment fund per month. – FAIL; Only contributed an average of $1,287.66 per month across these two goals
- Increase my total net worth to $175,000 by 12/31/2019. – PASS; Blew right by this goal and ended the year with $216,181.51 in net worth
- Hold at least $125,000 in invested assets (should not include cash) by 12/31/2019. – PASS; Again, this goal was achieved and ended the year with $173,444.76 in invested assets
- Hold dividend taxable brokerage account balance of at least $40,000 by 12/31/2019 (Can include uninvested cash held in account). – PASS; I’m sure you can see the theme here. Completely surpassed this goal and ended the year with $69,902.48 in my taxable brokerage accounts
- Receive $1,000 in total dividend income. – FAIL; This one was a stretch goal but I still came closer than I thought I would. Ended the year with $801.50 in passive dividend income
- Allocate $200 per month to a new car fund. – PASS
Health/Spirituality Goals-
- Sign up for one 5K or one 10K by October 2019. – PASS; Technically this is a fail. However, I’ll call it a pass because the intent was to get in the habit of working out and being healthier and I did start going back to the gym in April and consistently went at least 3x a week (and most times I did 4-5x a week)
- Donate at least $75 per month to church or reputable charitable organization. – PASS
- Document at least 183 days in my gratitude journal. – FAIL
Travel Goals-
- Allocate at least $50 per month to my travel fund. – PASS
- Take a least 2 domestic trips/international trips and 2 weekend/road trips. – PASS; Domestic/International: Greece & Miami, weekend/road trips: Deep Creek, MD and Pittsburgh, PA
- Take a solo trip. – FAIL
2019 Net Worth Reviewed
In December 2018, my total savings were $123,093.20. My total debts were $7,397.14.
My net worth as of December 2018 was $115,696.86.
This year, I continued the strides I made in 2018 and continued to dedicate my focus to increasing my net worth and make my desire to achieve financial independence with the option to retire early. I had a goal to come as close as I could to $200K in assets . I continued to focus on reducing my living expenses as much as possible; however, I did allow myself to enjoy the gains I’ve made by spending a bit on luxury and experiences with friends and family. Let’s see how this affected my goals in 2019.
As of December 29, 2019, here is my financial situation:
Debt
Student loans:
$1,446.60 at 3.4%
$1,249.35 at 4.5%
$2,323.99 at 5.0%
Total student loans: $5,019.94
Car loans:
$0 balance
Credit Cards:
$0 balance
Savings
$110,037.69
Personal Savings:
Emergency Fund balance at $10,838.15
Investment portfolio account balance: $76,907.77
Miscellaneous Savings for various goals: $25,223.03
Total Savings: $221,206.64 (increase of $98,113.44)
NET WORTH: $216,181.51
Financially, I really blew past a lot of goals this year. My net worth grew by nearly $100,000 this year and I only contributed about $55,000 towards that. This means that I had nearly $50,000 in just gains alone. This is a testament to how much diligence in the early years helps lay the foundation for a strong future. For this, I’m grateful for what I have been able to accomplish thus far and I am absolutely looking forward to making great strides towards financial freedom in 2020!
Thanks for reading.
Images: Upsplash
One Woman's Worth 