Our gain in net worth during the year was $613.6 million, or 48.2%. It is fitting that the visit of Halley’s Comet coincided with this percentage gain: neither will be seen again in my lifetime.
WARREN BUFFETT
3
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The most important numbers to track
The two most important numbers to track your early retirement strategy are:
- Your savings rate: This is the percentage of your income that you're saving either before or after taxes in all of your accounts
- Your net-worth: This is the most imp...
Find your ideal
Determine your target net worth - where you want to be in the near-term and long-term future.
The following formula is helpful:
Target Net Worth=[Your Age−25]∗[1/5∗Gross Annual Income]
A 50-year-old with a gross annual income of $75,000 might aim ...
How Much You Need to Become Wealthy In Dollars
According to a Modern Wealth Index Survey, the amount needed to be comfortable in America is $1.4 million. To be wealthy, you'll need a net worth of $2.4 million.
An average pre-tax yearly salary of $389,436 is needed to be in the top 1%, although it varies by state.
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