Author Topic: $500,000 Net Worth by the end of 2017  (Read 4929 times)

frugalkristen

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$500,000 Net Worth by the end of 2017
« on: February 20, 2017, 07:50:49 AM »
I'm setting a goal for 2017 - to achieve the $500,000 Net Worth milestone.  Currently sitting at $463,000.  I'm not a high earner so this will be a challenge but I think I can do it.  I take every OT shift they offer and save as much as I can. 

Anyone else close to this milestone and want to jump in?

Freedomin5

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Re: $500,000 Net Worth by the end of 2017
« Reply #1 on: February 20, 2017, 07:54:32 AM »
I'll join, though it will be a stretch goal for us. Sitting at around $400k right now.

boarder42

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Re: $500,000 Net Worth by the end of 2017
« Reply #2 on: February 20, 2017, 08:02:31 AM »
i'll joing but its not gonna be a gauntlet for us.  we're really sitting around 485k right now invested. so we'll hit 500k in a couple months.
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swashbucklinstache

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Re: $500,000 Net Worth by the end of 2017
« Reply #3 on: February 20, 2017, 06:25:17 PM »
Reading this makes me hope we see a (sustainable) 10%+ gain in the stock market this year just for you! Well, you know, and for me too :)
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TheAnonOne

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Re: $500,000 Net Worth by the end of 2017
« Reply #4 on: February 22, 2017, 02:21:58 PM »
Just crossed 400k myself a few days ago. I'd LOVE to see 500 in 2017 but we only save around 90 to 100k a year and 2/12 months are done already.

My stash is "only" 275, so even a 10% market jump from this massive rally(unlikely) would only be 27k which would be enough. Hmm

Good luck!

boarder42

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Re: $500,000 Net Worth by the end of 2017
« Reply #5 on: February 22, 2017, 02:31:16 PM »
well we may hit this as soon as april.  if i account for my alternative investments in opening day baseball tickets and my expected profit from those.  we're sitting around 493k right now so with the money that will be going in thru auto invest it will likely be april
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garth

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Re: $500,000 Net Worth by the end of 2017
« Reply #6 on: February 22, 2017, 05:01:26 PM »
I'm in. Currently sitting at $399k and planning to save another $100k or so. If markets are up, hoping to hit this milestone in Nov.

Guide2003

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Re: $500,000 Net Worth by the end of 2017
« Reply #7 on: February 27, 2017, 07:39:59 PM »
I'll throw down too. We're at $465k as of today, but that includes an optimistic Zillow forecast of our house. If you take about $20k off that number it will be a bit of a stretch, but we may be able to pull it off!
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TheAnonOne

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Re: $500,000 Net Worth by the end of 2017
« Reply #8 on: March 01, 2017, 09:29:19 AM »
I'm in. Currently sitting at $399k and planning to save another $100k or so. If markets are up, hoping to hit this milestone in Nov.
Yea we save about 100k a year but we are already 2 months in! The markets would have to be awfully accommodating. Though, today is looking that way! (Up 1.2% today already!)

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rebel_quietude

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Re: $500,000 Net Worth by the end of 2017
« Reply #9 on: March 20, 2017, 08:55:29 AM »
I'll join in on this one! I'm sitting at $487k, so this should happen before the end of second quarter. It's such a big milestone, though, I look forward to celebrating with you all.

Those of you making it a stretch goal - good on you. Fingers crossed for a rosy market!

RWD

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Re: $500,000 Net Worth by the end of 2017
« Reply #10 on: March 20, 2017, 09:37:09 AM »
We're at about $420k right now. Hitting $500k by the end of the year will definitely require some market cooperation.

zephyr911

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Re: $500,000 Net Worth by the end of 2017
« Reply #11 on: April 05, 2017, 05:42:02 PM »
I'm just scratching at 400 but we're balls to the wall and we do have a prayer of making it.
However, I may semi-FIRE before that point so I'd fall off then if that's the case.
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boarder42

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Re: $500,000 Net Worth by the end of 2017
« Reply #12 on: April 06, 2017, 07:16:22 AM »
we're gonna hit this next week most likely.
PM me about how to save 6% on your annual grocery Bill!

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homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #13 on: April 06, 2017, 08:21:47 AM »
I'm in, but tracking stash amount instead of traditional net worth (which we don't really track because we are not interested in selling our home and vehicles).

Starting point is 456k here in early April, need to add another 44k.  We are set to make 27k in contributions throughout the rest of 2017, so need a little help from the market.

boarder42

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Re: $500,000 Net Worth by the end of 2017
« Reply #14 on: April 06, 2017, 08:31:57 AM »
I'm in, but tracking stash amount instead of traditional net worth (which we don't really track because we are not interested in selling our home and vehicles).

Starting point is 456k here in early April, need to add another 44k.  We are set to make 27k in contributions throughout the rest of 2017, so need a little help from the market.

same place we're in as well
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

TheAnonOne

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Re: $500,000 Net Worth by the end of 2017
« Reply #15 on: April 06, 2017, 08:36:27 AM »
Sitting at 413k NW and will probably add another 70k or so from our jobs to various accounts.

Unless the market rallies, it won't happen.

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homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #16 on: April 06, 2017, 08:40:08 AM »
same place we're in as well

So you're hitting 500k net worth next week, but stash amount is a little more of a stretch to hit 500k by year end?  Good luck!

Mr. Paws

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Re: $500,000 Net Worth by the end of 2017
« Reply #17 on: April 07, 2017, 06:52:42 AM »
I am in.  Invested plus cash I am sitting around 430K.  I am not counting equity in my house or other  assests.

homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #18 on: April 26, 2017, 08:31:59 AM »
How is everyone doing?  Was this latest rally enough to push anybody up over 500k?

We cracked 463k today, and with 27k more in contributions still planned, we need an additional 10k advance from Mr. Market, which is only asking for 2.2% additional increase.


TheAnonOne

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Re: $500,000 Net Worth by the end of 2017
« Reply #19 on: April 26, 2017, 08:36:08 AM »
How is everyone doing?  Was this latest rally enough to push anybody up over 500k?

We cracked 463k today, and with 27k more in contributions still planned, we need an additional 10k advance from Mr. Market, which is only asking for 2.2% additional increase.
The latest rally isn't even at a new record yet. So it shouldn't be too powerful.

We hit personal records due to adding cash since March 1st. Made it up to about 429k now.

Though, I did only cross 400k back in late February so progress has been swift...

I still think making it to 500k by dec 31st is unlikely.. it would have to be mostly the markets doing. We will add about 42k ourselves assuming steady employment. So presumably, I am assuming 450 to 490 right now...
« Last Edit: April 26, 2017, 08:38:48 AM by TheAnonOne »

boarder42

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Re: $500,000 Net Worth by the end of 2017
« Reply #20 on: April 26, 2017, 08:42:01 AM »
i'm there but i have to wait for my company account to repost with my newly allocated shares on friday.  as long as we dont see a 5% drop in the market between now and then i should be over 500k.  really around 520k
PM me about how to save 6% on your annual grocery Bill!

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garth

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Re: $500,000 Net Worth by the end of 2017
« Reply #21 on: April 26, 2017, 08:57:57 PM »
I'm in. Currently sitting at $399k and planning to save another $100k or so. If markets are up, hoping to hit this milestone in Nov.
We've moved up to $422. Barring unexpected expenses, I think we should save another $80k this year.

Freedomin5

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Re: $500,000 Net Worth by the end of 2017
« Reply #22 on: April 26, 2017, 11:47:42 PM »
We're at $470-ish. Combination of dumping money into ETFs and appreciation on our rental unit - similar layout sold for $350k recently, which is a $50k jump from the figure I used when last calculating net worth. The Toronto housing market is nuts.

OurTown

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Re: $500,000 Net Worth by the end of 2017
« Reply #23 on: April 27, 2017, 03:01:31 PM »
I'm in.

BayAreaFrugal

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Re: $500,000 Net Worth by the end of 2017
« Reply #24 on: April 27, 2017, 03:50:23 PM »
I'm in, this was my goal anyway. I'm in basically the same spot you are, I was sitting around $460k at the beginning of the year and plan to hit $500k by the end of the year. It shouldn't be very difficult at all for me though, as long as the stock market doesn't go down I'll make it since my contributions to retirement/HSA accounts alone are just about $40k (one 401k, one HSA, two IRAs). If we get a good stock market and real estate year, we could easily hit $550k or even $600k. Oh I'm so excited just thinking about it!

rebel_quietude

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Re: $500,000 Net Worth by the end of 2017
« Reply #25 on: April 29, 2017, 10:00:05 AM »
Sheesh, this is frustrating.

This wasn't a stretch goal for me, and at the moment I'm so close I can taste it. On the 16th I was at $482k, on the 27th when the market went up I was at $498k . . . and now I'm back down to $496k. I should stop haunting Personal Capital and just be pleasantly surprised, but it's my first big milestone and my halfway to FI number. I realize it'll inevitably go back down below $500k again, but it's a pretty potent psychological triumph just hitting the mark.

I really want to see that 5... it's been a decade in the making. I've got my happy dance all planned. I didn't realize being so close would be so distracting!

boarder42

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Re: $500,000 Net Worth by the end of 2017
« Reply #26 on: April 29, 2017, 10:17:32 AM »
Shares dumped in 514k invested 666k nw
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

OurTown

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Re: $500,000 Net Worth by the end of 2017
« Reply #27 on: April 30, 2017, 01:06:56 PM »
$492k as of May 1.  Will I make it by June 1?  Maybe.

homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #28 on: May 01, 2017, 06:05:35 AM »
Congrats, boarder42

Good luck to the others who are so close.  I'll just be happy if I hit it before 2018.

skip207

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Re: $500,000 Net Worth by the end of 2017
« Reply #29 on: May 01, 2017, 06:43:01 AM »
I will join in but I think I might end up around 475ish as I am now at 411.
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BayAreaFrugal

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Re: $500,000 Net Worth by the end of 2017
« Reply #30 on: May 02, 2017, 10:44:51 AM »
$483k as of May 1. I should hit $500k in August!

rebel_quietude

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Re: $500,000 Net Worth by the end of 2017
« Reply #31 on: May 06, 2017, 08:10:30 AM »
$500,077 as of close of market yesterday.

$500k took me from 2009 to 2017. Hopefully the next $500 doesn't take quite as long - but it's nice to feel like I have something to show for the years, and all the mistakes and learning points I went through as I tried to find my way!

Who's next?


Mr. Paws

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Re: $500,000 Net Worth by the end of 2017
« Reply #32 on: May 23, 2017, 07:09:52 AM »
I just got a promotion at work.  Not a huge increase in income but it will definitely help me get closer to 500K.

thedigitalone

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Re: $500,000 Net Worth by the end of 2017
« Reply #33 on: May 23, 2017, 12:02:30 PM »
This thread inspired me to go run our mid-year numbers, we hit 500k liquid!  Need to go find the $750k discussion :)

                  Mortgage             Mtg Equity         Debts               Lqd. Assets     Net Worth
1/5/2017    $(488,764.71)    $311,255.57     $(7,413.83)    $471,753.00     $783,008.57
6/1/2017    $(471,059.34)    $328,940.66     $(3,750.00)    $503,302.56     $832,243.22

homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #34 on: May 25, 2017, 08:53:25 AM »
I just crossed $480k.  I also realized I'll get two ~$5k bumps from ESPP purchases on June 30 and Dec 31.  The payroll deductions occur every 2 weeks, but those funds pile up out of sight until the twice yearly purchase dates.  Looking very possible now as other normal 401k and HSA contributions should carry me over the line!

Congrats to rebel_quietude and thedigitalone!  Anyone else make it in May?  OurTown?  BayAreaFrugal?

BayAreaFrugal

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Re: $500,000 Net Worth by the end of 2017
« Reply #35 on: May 25, 2017, 10:36:25 AM »
I just crossed $480k.  I also realized I'll get two ~$5k bumps from ESPP purchases on June 30 and Dec 31.  The payroll deductions occur every 2 weeks, but those funds pile up out of sight until the twice yearly purchase dates.  Looking very possible now as other normal 401k and HSA contributions should carry me over the line!

Congrats to rebel_quietude and thedigitalone!  Anyone else make it in May?  OurTown?  BayAreaFrugal?

I try my best not to run my numbers until the first of the month :)

I don't think we'll see too much of a bump this month though, the market didn't do anything crazy and I spent a lot (quarterly charitable donations and a 10 pack of massages). I'm guessing we'll come out around $487k.

Icecreamarsenal

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Re: $500,000 Net Worth by the end of 2017
« Reply #36 on: May 26, 2017, 10:13:15 AM »
I'm joining late with no hope. But whatever. 408k. Better to aim high and hit low, right?


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OneCoolCat

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Re: $500,000 Net Worth by the end of 2017
« Reply #37 on: May 26, 2017, 10:57:39 AM »
I'm in!  I just have to add $449k to the stash in the next 6 months.  A market rally would me get their sooner.
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homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #38 on: May 26, 2017, 11:33:47 AM »
I'm in!  I just have to add $449k to the stash in the next 6 months.  A market rally would me get their sooner.

Good luck to you.  What % of your annual income is $449k?

OneCoolCat

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Re: $500,000 Net Worth by the end of 2017
« Reply #39 on: May 26, 2017, 01:23:06 PM »
I'm in!  I just have to add $449k to the stash in the next 6 months.  A market rally would me get their sooner.

Good luck to you.  What % of your annual income is $449k?

Roughly 14%.  I got this!
I refinanced my student loans with Sofi from 6.8% to 3.805%.  Use my referral URL for a $100 welcome bonus if you refinance with Sofi:  https://www.sofi.com/refer/234/11233

homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #40 on: May 30, 2017, 08:29:03 AM »
I'm in!  I just have to add $449k to the stash in the next 6 months.  A market rally would me get their sooner.

Good luck to you.  What % of your annual income is $449k?

Roughly 14%.  I got this!

I was expecting a reply of "Ooops! Typo." since you appear to have 51k stash and expect to get to 500k in 6 mos... 

So you are making 3.2 million per year?  If yes, there may be more questions...

2Birds1Stone

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Re: $500,000 Net Worth by the end of 2017
« Reply #41 on: May 30, 2017, 08:36:49 AM »
We are shooting for $400k by end of 2017, and $500k by end of 2018.
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OneCoolCat

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Re: $500,000 Net Worth by the end of 2017
« Reply #42 on: May 30, 2017, 10:21:12 AM »
I'm in!  I just have to add $449k to the stash in the next 6 months.  A market rally would me get their sooner.

Good luck to you.  What % of your annual income is $449k?

Roughly 14%.  I got this!

I was expecting a reply of "Ooops! Typo." since you appear to have 51k stash and expect to get to 500k in 6 mos... 

So you are making 3.2 million per year?  If yes, there may be more questions...

14% or so of $449k is my annual income.  It's a little bit less than 3.2 million/year.
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homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #43 on: May 30, 2017, 10:55:31 AM »
^ Haha.  I was thinking if you made 3.2 million/year, why do you only have a 51k stash?  I can think of a few prior bosses who liked to set "stretch goals" similar to the one you are laying out here.

OurTown

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Re: $500,000 Net Worth by the end of 2017
« Reply #44 on: May 31, 2017, 01:37:27 PM »
We are just over 500 grand as of today.

BayAreaFrugal

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Re: $500,000 Net Worth by the end of 2017
« Reply #45 on: June 01, 2017, 10:38:27 AM »
I just crossed $480k.  I also realized I'll get two ~$5k bumps from ESPP purchases on June 30 and Dec 31.  The payroll deductions occur every 2 weeks, but those funds pile up out of sight until the twice yearly purchase dates.  Looking very possible now as other normal 401k and HSA contributions should carry me over the line!

Congrats to rebel_quietude and thedigitalone!  Anyone else make it in May?  OurTown?  BayAreaFrugal?

I try my best not to run my numbers until the first of the month :)

I don't think we'll see too much of a bump this month though, the market didn't do anything crazy and I spent a lot (quarterly charitable donations and a 10 pack of massages). I'm guessing we'll come out around $487k.

I just ran the numbers and was surprised to see we're at $494k after being at $483k a month ago, surely I couldn't have gained $11k in a bad month. So I double checked and I read my spreadsheet wrong last month, it was actually $488k on May 1. A much more believable gain of $6k. But oh my goodness we're so close! We might just make it this month!!!!

2Birds1Stone

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Re: $500,000 Net Worth by the end of 2017
« Reply #46 on: June 01, 2017, 06:14:26 PM »
We are just over 500 grand as of today.

Congratulations!
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skip207

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Re: $500,000 Net Worth by the end of 2017
« Reply #47 on: June 02, 2017, 02:03:05 AM »
421 ish as of the 1st so looking like I am not going to make it unless something amazing happens to the market or I win the lottery!  In a good month I might put 10k on the number so with 6 months to go with a perfect month each month will make 480.  I predict 460.  At least I can join in next year :D

homestead neohio

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Re: $500,000 Net Worth by the end of 2017
« Reply #48 on: June 22, 2017, 09:18:46 AM »
Belated congrats to OurTown

I'm within spitting distance of $500k investable assets.  Sitting at $490k and payday is tomorrow.  Another $5k is due to post the beginning of July due to an ESPP purchase and Q2 dividends will also be paid and reinvest soon .  If the market holds, I'll hit this goal by end of July, which is MUCH sooner than expected.  I might hit it this year even if the market pulls back a bit.

Guide2003

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Re: $500,000 Net Worth by the end of 2017
« Reply #49 on: June 23, 2017, 08:45:41 PM »
Man everyone seems like they are hitting this early! We are at 473k thanks to the market and the sale of some extra stuff. I sold the motorcycle and we are extracting cash from our vehicles by trading them for older/cheaper ones. I think buying a Honda Fit is going to be the worst MMM advice I ever followed...
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