Author Topic: Made it to positive net worth!  (Read 1669 times)

SquashingDebt

  • Stubble
  • **
  • Posts: 120
Made it to positive net worth!
« on: September 28, 2017, 07:06:23 PM »
As of today's paycheck, I made it to a positive net worth!  As a mostly-lurker here on the forums, thank you all for your posts and your wisdom that has kept me motivated and on track the past 2 years.

My journey:

Fall 2013-ish:  Getting towards the end of grad school, decided that I better figure out what the heck a 401k was so that I could evaluate benefits packages when applying for jobs.  Stumbled upon MMM and after reading all his blog posts, ended up on the forum.

May 2015:  Actually graduated with my PhD and started my first real job with a $70k salary.  Net worth was -$82,500 because of undergrad student loans (and virtually no assets).  After a solid year and a half of reading MMM and the forums, was determined to avoid lifestyle inflation and kill my loans as fast as possible.

May 2016:  Down to -$55,500.

May 2017:  Down to -$16,500

September 2017:  Passed the $0 mark and am now at just over $2k net worth!  (student loans at -$18k, EF at $6.5k, HSA at $5k, and 401k at $8.5k)


I can't wait to see how it goes from here!

BTDretire

  • Handlebar Stache
  • *****
  • Posts: 1987
Re: Made it to positive net worth!
« Reply #1 on: September 28, 2017, 07:24:17 PM »
Great job, that's over $37,500 in debt reduction a year.
 Now it will be $37,500 of savings a year. With any market
luck you will have over half a million in 10 years.
 Congratulations.
Watch out for lifestyle creep.

Jtrey17

  • 5 O'Clock Shadow
  • *
  • Posts: 85
Re: Made it to positive net worth!
« Reply #2 on: September 28, 2017, 07:29:13 PM »
As of today's paycheck, I made it to a positive net worth!  As a mostly-lurker here on the forums, thank you all for your posts and your wisdom that has kept me motivated and on track the past 2 years.

My journey:

Fall 2013-ish:  Getting towards the end of grad school, decided that I better figure out what the heck a 401k was so that I could evaluate benefits packages when applying for jobs.  Stumbled upon MMM and after reading all his blog posts, ended up on the forum.

May 2015:  Actually graduated with my PhD and started my first real job with a $70k salary.  Net worth was -$82,500 because of undergrad student loans (and virtually no assets).  After a solid year and a half of reading MMM and the forums, was determined to avoid lifestyle inflation and kill my loans as fast as possible.

May 2016:  Down to -$55,500.

May 2017:  Down to -$16,500

September 2017:  Passed the $0 mark and am now at just over $2k net worth!  (student loans at -$18k, EF at $6.5k, HSA at $5k, and 401k at $8.5k)


I can't wait to see how it goes from here!

Congrats!!

11ducks

  • Pencil Stache
  • ****
  • Posts: 508
  • Location: Duckville, Australia
Re: Made it to positive net worth!
« Reply #3 on: September 29, 2017, 03:51:04 AM »
That is amazing, well done! If You keep it up by next year you could have fully paid off your student loans, and have an extra $10k in your HSA and 401k accounts !
Cheaper beans...CHEAPER BEANS! - dagiffy1

Megma

  • Pencil Stache
  • ****
  • Posts: 610
Re: Made it to positive net worth!
« Reply #4 on: September 29, 2017, 11:29:51 AM »
You are going to be shocked how quickly you have a 100k NW. Congratulations!

BTDretire

  • Handlebar Stache
  • *****
  • Posts: 1987
Re: Made it to positive net worth!
« Reply #5 on: October 13, 2017, 06:43:43 AM »
Congratulations, Keep it up, you will be a Millionaire.
 Some say a million ain't what it used to be,
but it makes for a lot of choices and most of all,

Mr. Green

  • Handlebar Stache
  • *****
  • Posts: 1640
  • Age: 34
Re: Made it to positive net worth!
« Reply #6 on: October 13, 2017, 06:50:56 AM »
Rock on! I think that feeling might have been more awesome that most of the other milestones on the way to FI.
RE in June 2016. Wife is joining me at the end of June!

reformingSucka

  • 5 O'Clock Shadow
  • *
  • Posts: 60
Re: Made it to positive net worth!
« Reply #7 on: October 13, 2017, 11:45:06 AM »
Amazing!!! Congrats!

acroy

  • Handlebar Stache
  • *****
  • Posts: 1674
  • Age: 40
  • Location: Dallas TX
    • SWAMI
Re: Made it to positive net worth!
« Reply #8 on: October 13, 2017, 11:50:28 AM »
Badass!
Now you can change your screen name to BuildingWealth :)
SWAMI
1 DW, 7 MiniMMMs + 1 getting baked, 1 'stache, many bicycles.

wordnerd

  • Pencil Stache
  • ****
  • Posts: 911
Re: Made it to positive net worth!
« Reply #9 on: October 13, 2017, 11:59:47 AM »
Well done! The hardest part is done. Congrats!!

jooniFLORisploo

  • Magnum Stache
  • ******
  • Posts: 4846
  • Location: In Nice Forum Joists
Re: Made it to positive net worth!
« Reply #10 on: October 13, 2017, 12:02:06 PM »
Great going!!!! Thanks for posting your success!
I am well and happy, and doing a series of brief forum breaks as part of self-care :)

WhiteTrashCash

  • Handlebar Stache
  • *****
  • Posts: 1139
Re: Made it to positive net worth!
« Reply #11 on: October 14, 2017, 05:43:09 AM »
Congratulations! What a great feeling. I have reached positive net worth when including the equity from my house and soon I will reach positive net worth without including it. Seeing those numbers makes a big difference. Keep going! You are doing terrific.

Meesh

  • 5 O'Clock Shadow
  • *
  • Posts: 91
Re: Made it to positive net worth!
« Reply #12 on: October 14, 2017, 06:47:29 PM »
Nice work. Congratulations!

dreams_and_discoveries

  • Pencil Stache
  • ****
  • Posts: 932
  • Location: London, UK
Re: Made it to positive net worth!
« Reply #13 on: October 15, 2017, 08:32:42 AM »
As others have said, the hardest part is now done, it's up all the way from here.

And amazing you found MMM so early in life, you'll have a lot of options as the years pass.

DieHard_772

  • Bristles
  • ***
  • Posts: 355
  • Location: California
Re: Made it to positive net worth!
« Reply #14 on: October 21, 2017, 08:11:09 AM »
Way to go, that is awesome



gecko10x

  • Bristles
  • ***
  • Posts: 420
    • SawyerPF
Re: Made it to positive net worth!
« Reply #15 on: October 24, 2017, 12:27:25 PM »
Fantastic!

SquashingDebt

  • Stubble
  • **
  • Posts: 120
Re: Made it to positive net worth!
« Reply #16 on: October 27, 2017, 05:22:05 AM »
Thanks, everyone, for your encouragement!  It's amazing how helpful this community has been and I'm sure will continue to be!