Author Topic: Hit $180,000 in investable assets  (Read 2230 times)

Gin1984

  • Magnum Stache
  • ******
  • Posts: 4932
Hit $180,000 in investable assets
« on: August 30, 2018, 08:55:01 AM »
Nine years ago, my DH had $20000 worth of debt, less than $500 in investment, was just starting a PhD program.  I had worked through school so had $9000 worth of investments but had quit my job to move with him.  Now, he is a professor, I have my Master's and a good jobs and we have two wonderful kids.  And $180,000 worth of investable assets!  Can't wait to see what next few years bring.

BrightFIRE

  • Stubble
  • **
  • Posts: 223
  • Location: Philadelphia
Re: Hit $180,000 in investable assets
« Reply #1 on: August 30, 2018, 01:48:08 PM »
Awesome! We just hit 120k ourselves, so I can't wait to catch up to you. :)

Full Beard

  • Stubble
  • **
  • Posts: 136
  • Age: 40
  • Location: Northern Virginia
Re: Hit $180,000 in investable assets
« Reply #2 on: August 30, 2018, 08:52:13 PM »
That's a nice round number!  Way to go!!

swashbucklinstache

  • Pencil Stache
  • ****
  • Posts: 630
  • Location: Midwest U.S.
Re: Hit $180,000 in investable assets
« Reply #3 on: August 31, 2018, 10:44:20 AM »
Nice!

A fun envelope calculation: Double it once for every 10 years you have left until age 60. How close is that to your FIRE #? If it is over, you're already onto trimming years off your working life and could stop saving right now and retire before the "usual" age if you wanted :).

Gin1984

  • Magnum Stache
  • ******
  • Posts: 4932
Re: Hit $180,000 in investable assets
« Reply #4 on: August 31, 2018, 09:38:37 PM »
Nice!

A fun envelope calculation: Double it once for every 10 years you have left until age 60. How close is that to your FIRE #? If it is over, you're already onto trimming years off your working life and could stop saving right now and retire before the "usual" age if you wanted :).
Not over yet, only about a 1/3 of the way, mostly because I am pretty conservative with about $20000/year set aside for medical alone.

bortman

  • Stubble
  • **
  • Posts: 113
Re: Hit $180,000 in investable assets
« Reply #5 on: September 03, 2018, 09:25:50 PM »
Good work. Keep your foot on the gas! Since DH is in academia, check if he has access to a 457b and double down on your tax-advantaged savings.

Slow&Steady

  • Pencil Stache
  • ****
  • Posts: 698
  • Location: Midwest
Re: Hit $180,000 in investable assets
« Reply #6 on: September 04, 2018, 10:00:24 AM »
This got me thinking back to where I was 9 years ago!

Year 2009
Moved for work 1 year earlier and was not able to unload the house that we bought in 2007 ($120K).  Was renting it out for a $200/month loss but didn't think we could afford to take the loss if we sold it.
I am pretty sure we were paying a car payment (we are probably safe to assume $10k) and probably some kind of CC debt (again probably safe to assume $3k)
My student loans were probably in the $30k range
My expenses/retirement spreadsheet doesn't start until 2013 and it says I was at 43k at the end of 2013.  I know I put in to 401K since before I graduated college but apparently not very much, let's say that in 2009 I was probably at $20k.
That gives us a ballpark of a negative $143K

Year 2018
Still own that house (and it has cost us several pennies lately) but we no longer take a loss on it.  We don't make very much from it but it pulls it's own weight most of the time so we will call it a wash
Bought another house (expenses - value = $100k)
Student loans will be paid off by the end of this year $0
Other debt (alot but all at extremely low intrest rates) $65k
Retirement Investments $120k
Ballpark NW = $155k

Wow, I need to remember to do this exercise when I feel bummed about our progress not being very fast.  That was almost a $300k swing in 9 years.  I anticipate the next 9 years to be an even bigger swing.

Congrats @Gin1984 you are doing great things and moving in the right directions!