Author Topic: Made it to positive net worth!  (Read 1467 times)

SquashingDebt

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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

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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

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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

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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

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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!
Get cash back on your online shopping from Mr Rebates (hotels, flights, ebay, groupon and more): http://www.mrrebates.com?refid=453502 (referral link, thank you!)

BTDretire

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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

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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.
FIRE, Take Two.

reformingSucka

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Re: Made it to positive net worth!
« Reply #7 on: October 13, 2017, 11:45:06 AM »
Amazing!!! Congrats!

acroy

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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 (Satisfied Working Advanced Mustachian Individual) 1 stash, 1 DW, 7 Mini MM's...
God, Family, Country. Everything else is details.

wordnerd

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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

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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'm FIRE: Financially Intact, Rejuvenating Everyday

WhiteTrashCash

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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

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Re: Made it to positive net worth!
« Reply #12 on: October 14, 2017, 06:47:29 PM »
Nice work. Congratulations!

dreams_and_discoveries

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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

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



gecko10x

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

SquashingDebt

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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!