My Financial Stats

I feel like it's time to step back and take a birds' eye view of my finances, in preparation for establishing my priorities and setting goals for the coming year. Also I know I have a lot of relatively new readers who might appreciate the big picture on me, since many of my posts deal with relatively specific portions of my finances.

So here we go:

• 3 Year Average Gross Employment Income - $82,730


• 3 Year Average Personal Spending - $56,595


• 3 Year Average Net Savings - $12,975


• Median Credit Score - 779


• Total Net Worth - $444,000

The figures above do not include my rental property income or expenses. The difference between my total income and my spending and saving is comprised of variables such as income taxes, monetary gifts, "other" income such as amazon sales, and rental property contributions/distributions. I track all that information too, but for simplicity sake I'm not detailing it all in this post.

Net Worth isn't a very meaningful figure, so here are some details:
Reserves - $5,000
Retirement - $102,000
Homestead Equity - $36,000
Rental Equity - $78,000
Trust & LLC Interests - $223,000
Consumer Debt - $0

Some other significant points:

• I began maxing out my Roth IRA and Roth 401k in 2010, and my employer contributes 6% of my base salary to my 401k for a total of over $26,000 per year invested in retirement accounts.


• My $150K trust is made up of 100% cash which is why I am comfortable with a relatively miniscule reserve fund - though I certainly aim to boost it asap.


• My rentals are currently fully leased and expected monthly income is $7925. Total monthly fixed rental costs are $6,286.


• An average of 4% of my spending goes to charity each year ($200/month).


• I have contributed a net average of $6,000 a year to my rental property accounts over the last 4 years. However I have saved an average of $1,200 a year in federal income taxes and repaid an average of $5,300 per year in rental mortgages over that same period.


• I'm on track to bring in $93K for 2011 and expect a promotion and raise in early 2012 which, if I also meet my production goals, should put me over $100K in earnings for next year. What a milestone!

Given all this information, my initial working goals for 2012 are as follows:

Goals for 2012:

1. Earn $100,000 in employment wages.


2. Max out retirement accounts for the third year in a row.


3. Increase Reserves to $15,000.


4. Spend $60,000 or less.


5. Boost Giving to $300 per month (6% of projected spending)


6. Resist buying more real estate or a new car until these goals are comfortably attainable each year.

I welcome your ideas and opinions! Are there any other important stats I left out or goals you think I should be highlighting?

kredyt konsumpcyjny kredyt hipoteczny forum