My original 2009 Annual Goal was to increase my Net Worth to $46K (a $7K increase). With everything that’s happened, my savings rate has stayed pretty static – and I’m not complaining! Since I’m at $40.5 now, and assuming a $3000 bonus this summer, that means I will have to make up the other $2500 on monthly increases in my net worth. With only 4 months of work left, I’ll need to increase my net worth an average of $625 each month. So… yeah… not going to happen. By a long shot. But I think I’ll leave the lofty goal up and keep charging against it anyway.
All of this does make me think a bit more abstractly about what appropriate net worth goals are. I use all of the comparison charts on NetWorthIQ (by age, by profession, by income bracket, etc.), but what does comparing yourself to your neighbor really mean. I’m curious about what Suze would deem a good networth figure. Is it an important milestone that your networth be more than your annual gross income? Or should your networth be increasing by a certain percentage year over year? I haven’t yet found any good benchmark figures in my research, so I’ll keep my ears tuned for what else is out there.
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