Author Topic: Progress for 20 something's  (Read 18804 times)

21runner

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Progress for 20 something's
« on: June 08, 2016, 10:33:50 AM »
How are all of the 20 something's doing? Are you making steady progress towards your goals?

Here are my details at 25:

Cash savings - $28,000.00
Investments - $65,500.00
Home Value - $117,000.00
Debt (home loan only @ 3.35%) - $89,730.00

I feel fortunate to have accumulated the assets that I have with my lower income. Look forward to hearing from everyone else!
« Last Edit: June 08, 2016, 10:49:23 AM by 21runner »

onlykelsey

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Re: Progress for 20 something's
« Reply #1 on: June 08, 2016, 10:43:12 AM »
I'm exiting my 20s shortly, so this is maybe more of a nostalgic post for me.

At 25 I had just started my post-grad school job and had a net worth of about -100K (not actually bad for putting myself through eight years of school!  Thanks, need-based financial aid in undergrad, and my law school's financial aid office.)

I'm now 29, and my (single) details are:

Cash savings - $8,000 (temporarily depleted, will put back up to ~15K)
Investments - $150,000
Home Value - $610,000
Debt (home loan @ 4.25% and HELOC at 3.4%) - $390,000
All in all, my net worth is approximately 355K.

It seems like you're counting your mortgage twice by listing low equity and then also a 90K debt.  Maybe I'm missing something?  I changed mine to "value" instead.

But I have an obscene income, so I actually could be doing a lot better.  Now that I have my wedding, roof assessment, down payment and student loan debt behind me, hopefully I can become more badass.

21runner

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Re: Progress for 20 something's
« Reply #2 on: June 08, 2016, 10:54:48 AM »
I'm exiting my 20s shortly, so this is maybe more of a nostalgic post for me.

At 25 I had just started my post-grad school job and had a net worth of about -100K (not actually bad for putting myself through eight years of school!  Thanks, need-based financial aid in undergrad, and my law school's financial aid office.)

I'm now 29, and my (single) details are:

Cash savings - $8,000 (temporarily depleted, will put back up to ~15K)
Investments - $150,000
Home Value - $610,000
Debt (home loan @ 4.25% and HELOC at 3.4%) - $390,000
All in all, my net worth is approximately 355K.

It seems like you're counting your mortgage twice by listing low equity and then also a 90K debt.  Maybe I'm missing something?  I changed mine to "value" instead.

But I have an obscene income, so I actually could be doing a lot better.  Now that I have my wedding, roof assessment, down payment and student loan debt behind me, hopefully I can become more badass.

Thanks, I updated my original post. I'm also fortunate to have a Bachelor's Degree in Business and no student debt to go along with it. It sounds like you're doing great! I have some updates for the house planned (pretty minor for the most part) so my cash position will probably drop slightly. Also thinking about investing a portion of my emergency fund into my Roth IRA since it's earning pretty much 0% in my savings account (0.2%).

Mr.Bubbles

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Re: Progress for 20 something's
« Reply #3 on: June 08, 2016, 02:28:07 PM »
Ill jump in here, its always nice sticking with your age group.

25 (26 in a month) married, baby due in 5 weeks.

Cash savings-10k would be higer but we just finished agressivly paying off my wifes car
investments-5k
home value - 160k
debt- only the mortgage 129,852 @3.625%

TheInsuranceMan

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Re: Progress for 20 something's
« Reply #4 on: June 08, 2016, 03:04:08 PM »
Me, 28, DW 29
Two kids, 2 and 1 month

Cash Savings - $6k
Home Value - $55k
Mortgage remaining - $24k
Two cars, paid off
Debt - My student loans @ $17k ($5k @ 5.35%, the rest at 3.15%)
$4,500 15 month, 0% interest card that we JUST used.
Combined 40kish in retirement accounts
$83k net worth according to Mint

Both hold a bachelor's degree, and live in an extremely low cost of living area, with wages to match!

canuck_24

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Re: Progress for 20 something's
« Reply #5 on: June 08, 2016, 03:13:29 PM »
I just turned 28, living in Northern Canada with my husband (29).

Cash savings (joint with husband) - $73k
Cash savings (not joint) - $73
Investments (not joint) - $43k
Debt - $0
No home yet (vying for jobs in a better area of the country before investing in a home).

Net worth = approx $152k (if all joint accounts are divided in equally between the two of us)

I'll pre-empt the comments that will likely ensue regarding not having a larger portion of the $146k in savings invested elsewhere:  Most of that is overseas where we were living for a few years, and we removed it from high interest accounts to transfer back to Canada - the exchange rate went down before we made the transfer, so now we are just waiting for a better exchange rate!  Once it is back in CAD, it can be reinvested.

Adge

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Re: Progress for 20 something's
« Reply #6 on: June 08, 2016, 05:26:51 PM »
I'll go ahead and be the first low NW 20-something to answer :)

29, single, no kids. I've had a savings account since I was about 6 and my net worth has always been above zero, but it's still not very high. Didn't start working full time until age 26 (not quite 3 years ago)- spent some time post-undergrad goofing off in various foreign countries, went to grad school in another foreign country, then came back to the states and moved to a LCOL area with a salary to match. Wouldn't change any of it for a higher NW number at the moment. That said, here's where I'm at:

Cash savings: $7500
401k: $5000
Car: worth around $10k, still owe $2500
No other debt, and the car will be paid off by the end of the year.
No house and no desire to own one yet, but I am working to beef up the cash savings as I can see that possibly changing in the next few years.


bridget

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Re: Progress for 20 something's
« Reply #7 on: June 08, 2016, 05:31:41 PM »
Hi, cohort! I'm 26, husband is 30. A healthy portion of our NW comes from him working starting around age 21, so some of my "stache" comes from money earned in someone else's 20s. :)

Cash savings - effectively zero; our checking account and credit card statements (to be paid in full on due date) are basically even. This is unusual, and due to extraordinarily high housing/moving costs that are thankfully temporary.
Investments - $137k
Home value - $170k
Debt - $77k (mortgage - and, the home just went under contract to sell, so all of the equity will turn into cold hard cash at the end of the month).

Net worth: ~$230k (add another 10k for the value of our car, if one is inclined to count that).

CanyonMan

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Re: Progress for 20 something's
« Reply #8 on: June 08, 2016, 05:53:46 PM »
26, male. Living in a high cost of living area.

Cash/savings: 18k
Taxable Investment: 22K
Retirement: 40K
Home Equity: 28K
---
Net worth: +/- 107K.

My sub 2-year goal is to get out of the PMI payments on the house. I'm only at 92% LTV, so almost 29K left to go. Once that's done I'll still have $192k in house debt, but the mortgage is at a low enough interest rate it doesn't make sense to pay it off faster.

My Long term goal is FIRE by 40, but I think I'll be ahead of that schedule. I also have a significant other who thinks the mustachian cult of personality is silly, but is very much on-board with reaching FI quickly so she can focus on a career path she deeply cares about, even if it's not fiscally beneficial.

athiker10

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Re: Progress for 20 something's
« Reply #9 on: June 08, 2016, 06:54:53 PM »
I'm at a net worth of about $38k. No home, about $8500 in retirement accounts (I've upped my contributions this year!), ~$3k in taxable investments, $17k in savings/cash (For school, starting this fall) and $10k in a CD, planned for buying property). I should note I'm 29-so soon moving out of this cohort.
« Last Edit: June 09, 2016, 09:22:12 AM by athiker10 »

FIstateofmind

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Re: Progress for 20 something's
« Reply #10 on: June 08, 2016, 08:52:57 PM »
24 years old & my net worth is about 80k. :3

IDK how good that is as in my current situation I can only save about 15k a year. Working on solving that problem!
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EngineerYogi

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Re: Progress for 20 something's
« Reply #11 on: June 08, 2016, 09:10:44 PM »
27 y.o. here, married

Getting killed in home ownership right now bought for 115,000 with a VA loan in 2007, currently listed on the market for 115,000 but no movement yet :/ still owe 104,000
Joint investments 101k
savings 1.5k

New to mustachianism, but we each make roughly 90k per year, we hope to make quick work of retiring early.

akzidenz

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Re: Progress for 20 something's
« Reply #12 on: June 08, 2016, 09:21:15 PM »
this is both intimidating and inspiring. it's cool to see where you guys are (i'm younger than everyone that's posted so far) and i hope to be in a similar boat in a few years

22, single, just started working

401k$4k
roth IRA$3k
savings$10k
debt$0
net worth$17k

CanyonMan

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Re: Progress for 20 something's
« Reply #13 on: June 08, 2016, 11:52:00 PM »
this is both intimidating and inspiring. it's cool to see where you guys are (i'm younger than everyone that's posted so far) and i hope to be in a similar boat in a few years

22, single, just started working

401k$4k
roth IRA$3k
savings$10k
debt$0
net worth$17k

That's a good start! With zero debt you're doing much better than most people in our age range, and you're farther ahead than many mustachians (including myself) were at your age. 100K comes up really quickly when you put your mind to it.

FIstateofmind

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Re: Progress for 20 something's
« Reply #14 on: June 09, 2016, 12:15:22 AM »
this is both intimidating and inspiring. it's cool to see where you guys are (i'm younger than everyone that's posted so far) and i hope to be in a similar boat in a few years

22, single, just started working

401k$4k
roth IRA$3k
savings$10k
debt$0
net worth$17k

That's a good start! With zero debt you're doing much better than most people in our age range, and you're farther ahead than many mustachians (including myself) were at your age. 100K comes up really quickly when you put your mind to it.

Yeah, I was about to say good job! ^^
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Zikoris

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Re: Progress for 20 something's
« Reply #15 on: June 09, 2016, 09:15:53 AM »
I'm 29, closing in on that BIG birthday in a few short months! I didn't get started on FIRE until right before I turned 25, but I've managed to do okay for myself so far - individual net worth of about 105K, all in investments except for a few hundred in my chequing and travel fund.

I have zero interest in buying a home, car, or anything else expensive, so it's a straight road from here to retirement.
« Last Edit: June 09, 2016, 09:58:23 AM by Zikoris »
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Exenos

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Re: Progress for 20 something's
« Reply #16 on: June 09, 2016, 09:25:08 AM »
22 in UK here, living with partner of same age.

Put everything into purchasing a house in need of modernisation earlier this year. Rent would have been £1.1k a month here, mortgage is £1k (£600 equity), and been investing everything since purchase into renovating. Hoping to rent out a room next month for £500/m.

House Value: 280-290k
Mortgage: 213k
No debt, no pension, no investments yet, that all begins next month as house is now good enough to take in a tenant.

NW: 66-77K
Age: 22
Goal: Fire at 30.

NW:£103,000
Goal: £665,000

Philociraptor

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Re: Progress for 20 something's
« Reply #17 on: June 09, 2016, 09:26:55 AM »
I'll add in some data. 26, married. Below are our joint numbers:

Cash Savings - $9,688
Investments - $137,942
Home Value - $139,000
Debt - $177,836 ($104k house, $9k car, $64k student loans)
Net Worth - $108,794

House was purchased for $110k 4 years ago, car was purchased pre-MMM and will be downsized soon, student loans started right around $100k 5 years ago (private school is expensive when your parents make a lot of money but didn't save any for your college).

onlykelsey

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Re: Progress for 20 something's
« Reply #18 on: June 09, 2016, 09:27:48 AM »
22 in UK here, living with partner of same age.

Put everything into purchasing a house in need of modernisation earlier this year. Rent would have been £1.1k a month here, mortgage is £1k (£600 equity), and been investing everything since purchase into renovating. Hoping to rent out a room next month for £500/m.

House Value: 280-290k
Mortgage: 213k
No debt, no pension, no investments yet, that all begins next month as house is now good enough to take in a tenant.

NW: 66-77K

Nice.  Out of curiosity, do you guys plan on having children?

I bought a small two-bedroom (before meeting husband) and always rented out my second room.  Now that we're expecting, I don't think I want to rent it out again, and am glad that I wasn't relying on that $1000 a month in income (as nice as it was to have!)  Just something to think about.  Honestly, I'm 3 months in to my pregnancy and could have had a roommate, but was afraid I'd be puking 10 times a day in our one bathroom, and didn't want to deal with it.  Still, I can't imagine having a newborn and a roommate.

Exenos

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Re: Progress for 20 something's
« Reply #19 on: June 09, 2016, 09:50:39 AM »
We do - but plan to get as close to FIRE as possible beforehand, but so many variables, so the plan may change a few times depending on what happens.

 I can't imagine still having a tenant afterwards though!
Age: 22
Goal: Fire at 30.

NW:£103,000
Goal: £665,000

Hall11235

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Re: Progress for 20 something's
« Reply #20 on: June 10, 2016, 06:38:07 AM »
this is both intimidating and inspiring. it's cool to see where you guys are (i'm younger than everyone that's posted so far) and i hope to be in a similar boat in a few years

22, single, just started working

401k$4k
roth IRA$3k
savings$10k
debt$0
net worth$17k

I think I got you beat, thoug definitely on the wrong side of the equation...
22, working for a year.

Company doesn't have a 401k yet, so...
Roth IRA: 3500, set to max out by year's end.
Savings: 1500 - My car just died (R.I.P Mighty Galant, you served me well), so I had to deplete my savings for a car. I drive a lot for work, so going carless was not an option.
Debt: 26000 - 17000 of which is student loans- I have put approximately 13000 towards since graduating last May. The remaining total is for the car. Fortunately, due to a good credit score, all loans have interest rates well under 5%.

Goal for 2016: Max out IRA, get cash savings to $3000 (basically 3 months survival money), and put another 5000 towards debts.
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Rimu05

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Re: Progress for 20 something's
« Reply #21 on: June 10, 2016, 06:41:28 PM »
24 years old

-44000 NW.

Woot woot. No worries, I am a happy person, I live frugally, I just got a job recently so I have started to save.

Goal is to save 5 grand for emergencies by August.

younggunner

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Re: Progress for 20 something's
« Reply #22 on: June 11, 2016, 05:04:01 AM »
25 year old


45k investments
23k savings accounts
5k vehicle
0 debt

Just sold my house that I owe 118k on for 209,999.  After fees and commissions I will be walking away with 70-80k.  I am then buying a property for 180k, with 20 percent down from the sale of the current house, I will then owe 144k on a property worth about 230-250k.  I bought my first house when I was 22 and basically lived in it for 4 years and flipped it, but I did have about 50k cash when I bought the house.

Basil

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Re: Progress for 20 something's
« Reply #23 on: June 11, 2016, 09:47:44 AM »
23, DH 24
Both working a year, LCOL area.

Cash: 4k
Investments: 53k

No debt, no house, no kids. We started investing in college, just whatever money we could make that we didn't absolutely need. That accounts for about half of our investments.

FausseBourgeoise

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Re: Progress for 20 something's
« Reply #24 on: June 11, 2016, 10:44:41 AM »
April 15 2015 - finish Master's degree and thesis defense with loan of 9700 and 0 interest -- 3300 is forgiven and paid off by the government due to high scholastic achievement
April 17 2015 - interview for dream job, continue working at non profit
April 18 2015 - call back from hiring committee; they are unanimously interested in me
August 1 2015 - start work at dream job, continue at non profit. Take first vacation ever of 3 weeks from non profit to go on trip of lifetime for friend's wedding and related to job and studies. No regrets.
November 2015 - pay off rest of loan in full the week before graduation. continue working 2 jobs. Net worth 3k.
March 2016 - tearful goodbye to non profit. Net worth 11k. Take on unheard of extra work at new job. Implement sweeping and dramatic changes by creating templates for things I've tried experimentally. Colleagues follow suit in astonishment. Still can't bring myself to believe I have this job title.

May 2016 - 16k in the bank, saving 50% of my take home pay and an additional 10% of my income is going toward company pension with match. I am over a decade younger than my colleagues and it's been made clear that there is ongoing work for me here as long as I want it.

akzidenz

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Re: Progress for 20 something's
« Reply #25 on: June 11, 2016, 02:47:19 PM »
thanks for the encouragement, all. i'll update towards the end of 2016 and i'm excited to see how much i can grow my net worth

made a tiny mistake and switched the #s for my roth IRA and cash savingsÖbeen prioritizing maxing my roth over having a huge savings fund, although this year i'll be able to do both

Goal for 2016: Max out IRA, get cash savings to $3000 (basically 3 months survival money), and put another 5000 towards debts.

best of luck with beating your student debt! super cool that you've gotten so much of it paid down in the last year.

Guava

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Re: Progress for 20 something's
« Reply #26 on: June 15, 2016, 08:33:04 AM »
I am 25 and about to be married in a few months. Until then, here is my contribution:

Cash savings - $31,000
Investments - $59,000
Real Estate Partnership Equity - $37,000
Home Value - $115,000.00
Mortgage Debt - $97,000
Non-mortgage Debt- $10,000

Total NW is around $136,000.

This year has mostly just been me trying to stay afloat, but I am on track to max both an IRA and 401k for the first time ever. My other goals are to pay for my wedding in cash, pay my grad school tuition in cash, and pay off my medical bills. It's nice to some other 20 somethings on here!

StartingEarly

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Re: Progress for 20 something's
« Reply #27 on: June 15, 2016, 12:39:26 PM »
Just turned 26 this spring. Net worth is around 130k plus I have a paid for motorcycle and Escape.

onlykelsey

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Re: Progress for 20 something's
« Reply #28 on: June 15, 2016, 12:41:35 PM »
We do - but plan to get as close to FIRE as possible beforehand, but so many variables, so the plan may change a few times depending on what happens.

 I can't imagine still having a tenant afterwards though!

I couldn't either, until I saw daycare costs in NYC.  I think we may try to keep the option of airbnb open for occasional cash from that bedroom, while keeping the flexibility to have one of us sleep in there or have house guests.  But at market rent, I could get probably 14K a year, which is nothing to sneeze at, or maybe 20K if I did airbnb and kept busy.

TheAnonOne

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Re: Progress for 20 something's
« Reply #29 on: June 15, 2016, 12:50:41 PM »
Age 25, (26 in a few weeks)

Net Worth ~ $310,000

Home ~ $130,000
Mort ~ -$65,000
Invest ~ $210,000

Few cars make up the difference.

Yearly spending 50-60 grand, working on getting this down... Looking at needing $1,625,000 for FIRE at this rate ill be around 35-40

CanyonMan

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Re: Progress for 20 something's
« Reply #30 on: June 16, 2016, 11:48:54 AM »
Age 25, (26 in a few weeks)

Wow. Mind sharing your field?

FIstateofmind

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Re: Progress for 20 something's
« Reply #31 on: June 17, 2016, 12:26:07 AM »
Yeah, it would be great to hear what fields the people with the higher NWs are in. My NW is mostly from scholarships and inheritance.
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Zikoris

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Re: Progress for 20 something's
« Reply #32 on: June 17, 2016, 08:09:24 AM »
Yeah, it would be great to hear what fields the people with the higher NWs are in. My NW is mostly from scholarships and inheritance.

I don't know if we count as "higher NWs", but we have a combined net worth of just under 200K and work as a administrative assistant and office clerk/receptionist.
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onlykelsey

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Re: Progress for 20 something's
« Reply #33 on: June 17, 2016, 08:16:34 AM »
Yeah, it would be great to hear what fields the people with the higher NWs are in. My NW is mostly from scholarships and inheritance.

I'm not sure if mine counts as higher net worth given the fact that I'm about to close out my 20s, but I'm a lawyer who started work at 25 four years ago, so I think it's "higher" given the six digit loan burden I paid off.  I work in NYC at an international law firm.

Philociraptor

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Re: Progress for 20 something's
« Reply #34 on: June 17, 2016, 08:20:00 AM »
Yeah, it would be great to hear what fields the people with the higher NWs are in. My NW is mostly from scholarships and inheritance.

Our net worth at 26 should be higher than $108k, but I made terrible, emotional decisions when it came to college and racked up $100k of student loans. We have very healthy incomes though as a supply chain coordinator ($72k/yr, mechanical engineering degree from private university) and process engineer ($63k+bonus/year, biology degree from state school). Our net worth has risen $6.8k per month since we got married in May 2014.

bridget

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Re: Progress for 20 something's
« Reply #35 on: June 17, 2016, 11:23:38 AM »
For the past eight years, I have been an undergraduate student, law student, state law clerk, associate attorney in a mid-size to small market, and federal law clerk. I will soon be an attorney at a large firm, which will likely cause our NW to get a lot larger before I hit 30. During that time, husband has been a logistics & operation planner for a shipping terminal, an undergraduate student, and a software developer.

Because we staggered the "student" times, we were fortunate to avoid student loans; if either of us had a big loan to pay off, our NW would be a lot lower.

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Re: Progress for 20 something's
« Reply #36 on: June 17, 2016, 11:39:55 AM »
Mr. 2B1S - 29
Mrs. 2B1S - 25

Combined Net Worth - ~$250k
Combined Income - ~$200k projected for 2016

We both work in sales, when we first started dating in 2011 we made $56k/yr, by 2014 $70k/yr, 2015 $140k/yr, this year projected $200k+
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MrMoneyAbsent

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Re: Progress for 20 something's
« Reply #37 on: June 24, 2016, 08:08:08 AM »
Just found MMM a couple months ago, but here we go:

Age: 21 (Wife 26)
Cash: ~7k (closings costs and some construction materials for the new house + EF)
Investments: 4.5K
Debt: (Me: 1k student loan & 2k dumb car loan) (Wife: 20k student loan)

I make 50k and she makes about 10-15k part time stay at home mom (but really more like $30,000 if you counted the child care we aren't paying!)

In a couple days our debt will include a $120,000 home.

t5inside

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Re: Progress for 20 something's
« Reply #38 on: June 24, 2016, 08:38:49 AM »
Just signed up here, I've been YNAB'ing and saving hard for the last year. I'm 28/single and current snapshot looks like:

Cash Savings - $9,000
Investments (Retirement and RSUs) - $74670
Home Value - $277000
Mortgage - $205000
Other Debt - $0
Other assets - $26,000
Net Worth (as reported by YNAB) - $181279

Of course, my investments are lower after today, but I only update their balances at the end of each month.

Last year's goal was paying off all consumer debt (just a car really, it's my weak point, but it's a Volt and I'll drive the wheels off it). This year's goal is emergency fund, hitting retirement hard (20% to 401k and maxing Roth). Any extra will be put onto the mortgage.

« Last Edit: June 24, 2016, 10:07:28 AM by t5inside »

boarder42

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Re: Progress for 20 something's
« Reply #39 on: June 24, 2016, 09:36:46 AM »
29 married

NW just crossed 500k yesterday (obvioulsy wont be there after close today)

invested assets - 362k
house - 533k
mortgage - 350k
i dont count my vehicles in NW

we gross over 150k - we're both engineers - could increase this by 30k if she'd just come work for my company - also due to ESOP we'd cut the 2 years off we added by moving to a mcmansion
save over 100k
plan to FIRE by 2024 - moved back 2 years due to mcmansion purchase but its been totally worth it.
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.

onlykelsey

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Re: Progress for 20 something's
« Reply #40 on: June 24, 2016, 09:39:18 AM »
29 married

NW just crossed 500k yesterday (obvioulsy wont be there after close today)

invested assets - 362k
house - 533k
mortgage - 350k
i dont count my vehicles in NW

we gross over 150k - we're both engineers - could increase this by 30k if she'd just come work for my company - also due to ESOP we'd cut the 2 years off we added by moving to a mcmansion
save over 100k
plan to FIRE by 2024 - moved back 2 years due to mcmansion purchase but its been totally worth it.

Nice.  I think not putting both of your employment eggs in one basket is probably a smart move, though.

boarder42

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Re: Progress for 20 something's
« Reply #41 on: June 24, 2016, 09:59:01 AM »
29 married

NW just crossed 500k yesterday (obvioulsy wont be there after close today)

invested assets - 362k
house - 533k
mortgage - 350k
i dont count my vehicles in NW

we gross over 150k - we're both engineers - could increase this by 30k if she'd just come work for my company - also due to ESOP we'd cut the 2 years off we added by moving to a mcmansion
save over 100k
plan to FIRE by 2024 - moved back 2 years due to mcmansion purchase but its been totally worth it.

Nice.  I think not putting both of your employment eggs in one basket is probably a smart move, though.

its not when the opportunity cost is crazy.  the place i work is nuts(on the compensation side) and we're looking at a 5 year horizon very little reason not to see this continue.  we are a diversified engineering firm so she would work for another division that essentially operates as its own company.
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.

onlykelsey

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Re: Progress for 20 something's
« Reply #42 on: June 24, 2016, 10:03:36 AM »
29 married

NW just crossed 500k yesterday (obvioulsy wont be there after close today)

invested assets - 362k
house - 533k
mortgage - 350k
i dont count my vehicles in NW

we gross over 150k - we're both engineers - could increase this by 30k if she'd just come work for my company - also due to ESOP we'd cut the 2 years off we added by moving to a mcmansion
save over 100k
plan to FIRE by 2024 - moved back 2 years due to mcmansion purchase but its been totally worth it.

Nice.  I think not putting both of your employment eggs in one basket is probably a smart move, though.

its not when the opportunity cost is crazy.  the place i work is nuts(on the compensation side) and we're looking at a 5 year horizon very little reason not to see this continue.  we are a diversified engineering firm so she would work for another division that essentially operates as its own company.

My husband is in tech, and I am a corporate attorney.  I like the diversification. Of course if he wanted to do tech work for a law firm, there are 100 other functionally equivalent firms in the city he could apply to.

boarder42

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Re: Progress for 20 something's
« Reply #43 on: June 24, 2016, 11:32:47 AM »
29 married

NW just crossed 500k yesterday (obvioulsy wont be there after close today)

invested assets - 362k
house - 533k
mortgage - 350k
i dont count my vehicles in NW

we gross over 150k - we're both engineers - could increase this by 30k if she'd just come work for my company - also due to ESOP we'd cut the 2 years off we added by moving to a mcmansion
save over 100k
plan to FIRE by 2024 - moved back 2 years due to mcmansion purchase but its been totally worth it.

Nice.  I think not putting both of your employment eggs in one basket is probably a smart move, though.

its not when the opportunity cost is crazy.  the place i work is nuts(on the compensation side) and we're looking at a 5 year horizon very little reason not to see this continue.  we are a diversified engineering firm so she would work for another division that essentially operates as its own company.

My husband is in tech, and I am a corporate attorney.  I like the diversification. Of course if he wanted to do tech work for a law firm, there are 100 other functionally equivalent firms in the city he could apply to.

there isnt anything even remotely close to where i work anywhere in our city.  people try.  i've actually interviewed with them.  their ability to actually be an ESOP and share profit even is laughable. 
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.

motiv8ed

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Re: Progress for 20 something's
« Reply #44 on: June 26, 2016, 07:50:32 PM »
Age 26, wife is 27

Cash: 22k
Investments: 122k
Home Value: 240k
Mortgage Debt (Only Debt): 116k

In all, NW is about 278k. We both are in the tech field, and we actually work at the same place. Still working on getting the carpooling down.

ariapluscat

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Re: Progress for 20 something's
« Reply #45 on: June 27, 2016, 11:36:11 AM »
22 years, single, and 0 kids. 2 cats though!

I have $7,000 cash savings.
I have $0 in student debt.
I have $1000 in credit card debt, for monthly expenses and a new computer purchase.
I have $0 in investment.

Now that I have paid off my student debt I want to start saving towards investment.

aetherie

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Re: Progress for 20 something's
« Reply #46 on: June 27, 2016, 11:57:43 AM »
I'm 24 and fiance is 23. Both software engineers in a HCOL area - combined salary ~$160k. No kids yet and still renting.

Cash: $12k
Investments (retirement accounts): $129k
Investments (taxable): $99k
Debt: $0
Total net worth: $240k

TheAnonOne

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Re: Progress for 20 something's
« Reply #47 on: June 27, 2016, 12:55:28 PM »
Age 25, (26 in a few weeks)

Wow. Mind sharing your field?

Software (.NET) consulting <-that's the kicker

Started at 18/19 so I really have probably more to compare with people who are 29 to 33

HydroJim

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Re: Progress for 20 something's
« Reply #48 on: June 27, 2016, 01:10:24 PM »
Just turned 20. 2 more years of undergrad left. Been making decent money with internships.

Roth IRA: $14k.
401k: $300
Savings: $4k
No Debt. Yay for scholarships!


JZinCO

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Re: Progress for 20 something's
« Reply #49 on: June 27, 2016, 01:16:43 PM »
Some of you have NW greater than my lifetime earnings at 29 :) Great job.

Though, I've got some to be proud of myself. My NW has steadily marched upwards, saving ~ three-quarters of my current salary, which itself has gone up 20% in the last year.
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