Author Topic: Just hit $500K NW  (Read 7772 times)

mmmj

  • 5 O'Clock Shadow
  • *
  • Posts: 9
Just hit $500K NW
« on: July 12, 2013, 05:13:08 AM »
Of course this could change in a day when the markets have a bad day but this morning I'm at 502K!  Woohoo!

And for anyone that is interested, I'm 34 years old and have never made over 100K a year (I started at 38K out of college).  I'm married with a 1 year old.  My husbands retirement accounts aren't included in the net worth although our home equity is.

ToeInTheWater

  • Stubble
  • **
  • Posts: 142
  • Location: Central Indiana
Re: Just hit $500K NW
« Reply #1 on: July 12, 2013, 05:47:17 AM »
NICE!
b

Skinnyneo

  • 5 O'Clock Shadow
  • *
  • Posts: 97
  • Location: Yokoahama, Japan
    • Tsumashiku Kurashii - Living Frugally in Japan
Re: Just hit $500K NW
« Reply #2 on: July 12, 2013, 06:14:38 AM »
That's great!  Well done!  I hope to follow in your foot steps.

footenote

  • Pencil Stache
  • ****
  • Posts: 801
  • MMMing in MN
Re: Just hit $500K NW
« Reply #3 on: July 12, 2013, 06:35:32 AM »
Congrats - that is awesome!

EK

  • Pencil Stache
  • ****
  • Posts: 733
  • Age: 37
  • Location: Fredericksburg, VA
    • Happily Enough
Re: Just hit $500K NW
« Reply #4 on: July 12, 2013, 07:09:58 AM »
Wow, congrats!  How old were you when you really started saving?

mpbaker22

  • Handlebar Stache
  • *****
  • Posts: 1095
Re: Just hit $500K NW
« Reply #5 on: July 12, 2013, 08:06:03 AM »
How much has your husband made?  Is it possible that you each make 80K/year, so total you still make well over 100k?

Congratulations on the milestone, and remember over time you'll blow through it!

destron

  • Bristles
  • ***
  • Posts: 377
  • Age: 45
  • Location: Seattle
    • Mustachian Financial Calculators
Re: Just hit $500K NW
« Reply #6 on: July 12, 2013, 08:22:02 AM »
Whoa. I am in awe of your superior saving skills!

mmmj

  • 5 O'Clock Shadow
  • *
  • Posts: 9
Re: Just hit $500K NW
« Reply #7 on: July 12, 2013, 08:43:11 AM »
Together, we make about $150K, however, we also live in a high cost of living area, where a 1800sf home, built in the 1960s and not updated, will run you 400K and day care is $900+, part time.  I didn't include any of my husbands savings/retirement accounts as I don't track them in mint.  And honestly, he wasn't a saver until we got married so his balances are no where close to mine.

I started saving at 21, after I graduated from college and got my first full time job.  I've always contributed at least 10% to my 401k and always did lots of after tax savings as well.  I am still driving the honda I bought at 21, which I think is one of the big reasons why I've been able to save so much.  My parents did pay for college (less all my living expenses that I funded through my part time job in college).  So I pretty much started my saving life with $1000 from graduation gifts from friends and family to my name and used that as a down payment for my first car. 

Joet

  • Guest
Re: Just hit $500K NW
« Reply #8 on: July 12, 2013, 10:46:25 AM »
awesome! lately I've started ignoring primary residence in this calc, makes projections simpler (to me!) also I add everything together (his/her) then divide by my oh-so-complicated /2 factor :)

Phoebe

  • Stubble
  • **
  • Posts: 222
  • Location: Wisconsin
    • Phoebe's Journey
Re: Just hit $500K NW
« Reply #9 on: July 12, 2013, 11:21:41 AM »
Woohoo!!!! Congratulations!!! I hope to hit the $500K mark this fall, and I can't wait!

The_Dude

  • Stubble
  • **
  • Posts: 203
Re: Just hit $500K NW
« Reply #10 on: July 12, 2013, 12:23:44 PM »
Big Congratz!

I hit that close to the same age but sadly with a higher income as I have a nasty car habit.  For me this was about 1.5 years ago and earlier this May and again this week I've bounced above the $700k mark.  Amazing what a strong stock market will do if heavily invested.

Everyone says the next $500k comes so much faster but ever since I first hit $500k I find myself day dreaming about hitting the $1,000,000 mark :)

olivia

  • Pencil Stache
  • ****
  • Posts: 770
  • From Consumerism to Minimalism
Re: Just hit $500K NW
« Reply #11 on: July 12, 2013, 12:47:52 PM »
WOW, that's incredible!  Congratulations!

happy

  • Walrus Stache
  • *******
  • Posts: 9285
  • Location: NSW Australia
Re: Just hit $500K NW
« Reply #12 on: July 12, 2013, 07:05:42 PM »
Well done :)

TheDude

  • Bristles
  • ***
  • Posts: 467
Re: Just hit $500K NW
« Reply #13 on: July 12, 2013, 07:41:08 PM »
Thats awesome. I hope we can get there in the next 1.5 -2 years or so. There market has been good for us too. Its so hard not to love the bull market as it looks so good on paper. In reality I know its not really helping me. QE(3) (as well as 4,56)  suck big balls imho.

Michelle119

  • 5 O'Clock Shadow
  • *
  • Posts: 39
  • Age: 36
  • Location: Raleigh NC
Re: Just hit $500K NW
« Reply #14 on: July 12, 2013, 08:05:55 PM »
Congratulations! We are approaching the $100k mark and feel very excited, I feel like at $500k we will be throwing a party for ourselves, maybe by splurging on a nice dinner out.

mmmj

  • 5 O'Clock Shadow
  • *
  • Posts: 9
Re: Just hit $500K NW UPDATE
« Reply #15 on: November 26, 2013, 06:24:35 AM »
Had to update this as I just kit 600K NW.  Crazy to think I've made more in my investment gains over 4 a four month period than I have made through one year of work.  Love that my money is working for me!

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 8397
  • Age: 62
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Just hit $500K NW
« Reply #16 on: November 26, 2013, 11:18:11 AM »
Congrats thats awesome.. I remember being quite startled at how fast the gains came after I hit 500k.. Of course this year has been fantastic and I finally became convinced that I don' need a paycheck anymore.. Currently pushing $1.3M and hope to climb higher as the Wife wants to keep working and we can live off her salary plus the rent I make.

For me I am struggling to re-invent myself  as of next April I'm walking out the door!

Frank

Honest Abe

  • Bristles
  • ***
  • Posts: 379
  • Emancipate Yourself from Mental Slavery
Re: Just hit $500K NW UPDATE
« Reply #17 on: November 26, 2013, 01:49:04 PM »
Had to update this as I just kit 600K NW.  Crazy to think I've made more in my investment gains over 4 a four month period than I have made through one year of work.  Love that my money is working for me!

This is awesome, congrats!

 

Wow, a phone plan for fifteen bucks!