After a month of work, I’m now back to semi-retire mode that allows me to spend time with the family all days and to watch my alma mater’s football team all weekends. I’m expecting another 10+ win season.
By the way, we spent some of our disposable income to set up a nice theater and karaoke system in the living room. This cost will be offset if we spend more time enjoying and entertaining at home, instead of traveling like we did throughout this year. We plan to minimize out-of-town vacations as they are more expensive than staying at home during days off from work.
Anyway, we have achieved one short-term goal last month: Total debts are below $100,000 for the first time in four years. Now we are working toward the next short-term goal: The balance of our investment/retirement accounts is the largest asset and it is bigger than the home’s value. We hope to achieve this short-term goal by the end of next year, 2013. One concrete step toward that goal is that we finally contribute enough to reach the limit for the spousal IRA at Vanguard this month.
Home’s value continues trending downward with a drop of $4,500 to account for the associated fees relating to selling/buying transactions. Also, investment increases due to higher contribution than normal. I am on pace to maxing out the contribution to the 401(k) plan by year end.
I have found out that my eligibility at my megacorp for (1) Early Retirement Date is 08-01-2034, and (2) Normal Retirement Date is 08-01-2044. No, it’s not a typo, just some 20 plus years of working to get there. Well, let’s just take it month by month and enjoy looking at the grass grows.
Looking back at last year’s savings, we saw that our net worth had increased by $50,009 from Jan 2011 to Jan 2012. This year we already beat the $50,000 benchmark handily. In fact, our net worth increases by about $70,000, and 2012 year is not over yet. I hope we can maintain this superior growth rate for the next ten years (10 x $70,000 = $700,000).
Adding $700,000 to $300,000 that we have now, essentially we will cross that millionaire mark 10 years from now! Just seem too good to be true. At least, it will be a source of our motivation.