Hello. I'm Dave.
in 2008 at the age of 26 I realized I was in a career I didn't like making a high five figure salary but spending every penny in sports cars and eating out.
So I hit reset.
I went back to school for 2 years, lived super frugally while I paid my way through school. In 2010 I emerged from school debt free in my new career with a net worth of about 10k.
I bought a house, then I got my dream job on the other side of the country 6 months later. I moved across the country met a girl, got married, rented the other house, bought a new one and found MMM.
I have since grown my income, and our household income is right about 100,000. I recently sold the rental property (I was a pain to monitor from 2,000 miles away)
Here is where we stand today.
Net Worth 336,000
63,000 in 401K invested in Spartan index funds FXSIX & FSEVX (Currently at a 15% contribution with a 3% match)
24,000 (12,000) each in Roth IRAs split equally between FBSOX FMEIX FSPHX FSTMX Putting in max every year
30,000 Post tax investments Half in FSTVX and FCNTX the rest in individual stocks.
Our house is worth about 390K (we paid 314k) and we owe about 260k at 3.125%
Our 2 paid off cars are worth about 10k each
Currently we have about 75k in liquid funds due to the recent sale of our other house.
HOWEVER, about 20k of that 75k is earmarked for some overdue maintenance on our house here, like a new roof (quotes range from 10,200-15,400), furnace, and 1,200 Sq feet of wood flooring.
AND I've been considering getting rid of my gas guzzler for a new Subaru crosstek hybrid (gotta carry my kayak) would be another 20k after trade in.
Unlike many on this site, my goal is not to retire early, I love my 9-5, and my side job is my own business. I may quit the 9-5, but then I would likely go full time in my own business, so my goal is not to retire early, but to achieve FI through frugality on a modest salary.
In a recent bump in the road, last month our house was burglarized. They made off with about 2k (including my wallet, DSLR and ipad doh!) and my wife insisted we get a security system, which is costing an extra $50 a month.
Our current budget allows for about 27k worth of our net income to be invested in the ROTH IRAs and investment account.
I've set a stretch goal for us of achieving 1,000,000 net worth by my 40th birthday (7 years away)
I would love to hear any thoughts or suggestions on how to plan/achieve this