Today I figured I would start documenting my current net worth and start setting some goals that I want to meet every month. My ultimate goal is to retire early and eventually be a nomad with my current boyfriend (whom I hope joins me on my journey as it will most definitely take me several years to accomplish).
Long-term Goal: Ideally, I’d like to retire at age 55 or younger. I’m currently 31 and I’ll admit, I feel like I’m a little behind on my retirement savings. I’m not going to make excuses but simply put, I just didn’t realize how important early retirement was to me before the last year and a half.
T Rowe Price 401k: $19,111.86
Fidelity 401k: $13,378.06
Roth IRA: $2,781.32
Total Net Worth: $63,350.45
Short-term Goal #1: By Dec 28, 2017, I hope to increase my net worth by an additional $1,500.
Short-term Goal #2: Attract enough traffic to my site by May of 2018 to start monetizing this blog.
Short-term Goal #3: Start keeping meticulous records of my spending habits during the month of December so I can start knowing where I can cut back on spending so I can save more.
Potential snags on my short-term goal #1: My day job is not the most consistent. I just started this job in July after two years of not working in my field. The nature of my job requires me to be away from home for up to 7 weeks at a time and I can have up to an entire month off at a time. Don’t get me wrong, when I’m working I’m making quite a bit of moolah but obviously when I’m not working, I’m not making anything. December happens to be a month where it appears I may not be working as much. Therefore, the $1,500 net worth increase may be difficult.
Potential snags on my short-term goal #2: I have no real clue as to what I’m doing in starting this blog so monetizing this blog may prove to be difficult.