Author Topic: Progress for 20 something's  (Read 14873 times)

boarder42

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Re: Progress for 20 something's
« Reply #150 on: November 22, 2016, 08:24:59 AM »
26 y/o. I have been working full time for 3 years since 23. Student loans blasted a 28K crater in my NW but I finished paying that off within a year of finishing school.

IRA - 20K
Cash - 25K
Robinhood (stocks)- 15K
Old 401k - 7K (I left before the full 5/6 year vesting period so I only got to keep 20% of company match)
Current 401k - 12K
ESPP - 9K

NW - 88K

I'm going to keep car and house out of my NW calculation.
Going forward I will be putting a lot less money into my Robinhood account and more into my 401K.

I have been maxing out IRA every year since graduation and I hope to continue that tradition.
I am currently contributing 40% to my 401k so I can max it out for 2016. Next year I will continue to max out my 401k.

Hoping to reach $200K by 30!

just maxing 401k and IRA should easily get you to 200k by 30 in today dollars. actually 224k ... assuming the markets cooperate.
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Vertical Mode

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Re: Progress for 20 something's
« Reply #151 on: November 22, 2016, 11:05:34 AM »
28 y/o. Graduated 2010 into a crappy market for my field, so I picked up odd jobs for a year or so before landing an internship (which was my stepladder to my current job of 5+ years).

401(k)   = 64k
Roth      = 15k
Taxable = 50k
Cash     = 11k

My only debt is my current CC balance

NW = ~140k

Not in an especially lucrative field, so I expect it to be a deliberate march toward FIRE. Doesn't the tortoise win that race in the end, though? ;-)

Also, so many of you are way ahead of where I was in my younger 20's. Nice work :-)
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frugalfanny

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Re: Progress for 20 something's
« Reply #152 on: November 23, 2016, 08:28:14 AM »
I feel like I'm moving at tortoise pace here. Just found MMM last year. Since then I've made some changes and continue to tweak my spending and saving habits. I've considered myself a saver all my life, but MMM takes it to another level I didn't know existed.

Graduated in 2009 with -$52k in student loans and $5k in cash. Been working full time as a children's librarian since then. Seven years out of school I am 29 and these are my stats:

Cash: $15k
401a: $25k
457: $16k
Wealthfront: $5k (wedding money... but I'm hoping my family will pay for most of the wedding so I don't have to spend this.)
Pension value: $14k (if I left my job now and took the money, or $500 a month after age 62)

Student Loan: -$25K (paying $1333 a month on this)

Net Worth: $50k

I only have a few months left as a 20 something. :( I'm glad I could at least hit 50k before I turned 30. By some miracle (and careful planning) I think I will hit 75k next year.



boarder42

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Re: Progress for 20 something's
« Reply #153 on: November 23, 2016, 08:44:14 AM »
I feel like I'm moving at tortoise pace here. Just found MMM last year. Since then I've made some changes and continue to tweak my spending and saving habits. I've considered myself a saver all my life, but MMM takes it to another level I didn't know existed.

Graduated in 2009 with -$52k in student loans and $5k in cash. Been working full time as a children's librarian since then. Seven years out of school I am 29 and these are my stats:

Cash: $15k
401a: $25k
457: $16k
Wealthfront: $5k (wedding money... but I'm hoping my family will pay for most of the wedding so I don't have to spend this.)
Pension value: $14k (if I left my job now and took the money, or $500 a month after age 62)

Student Loan: -$25K (paying $1333 a month on this)

Net Worth: $50k

I only have a few months left as a 20 something. :( I'm glad I could at least hit 50k before I turned 30. By some miracle (and careful planning) I think I will hit 75k next year.

frugal in your name 5k is a ton for a wedding - also thats a pile sitting in cash if you had invested that 1 day prior to the election it would already have made you an extra 1k
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Verdandi

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Re: Progress for 20 something's
« Reply #154 on: November 23, 2016, 11:08:14 AM »
I just exited my 20s 4 months ago, so I'm posting to feel young again ;)

I definitely had a lot of progress, mainly during the last 2 years. I went from 20k networth when I was 20 to now:

15k savings
2 rentals, worth about 280k with a 75k mortgage
10k other  investments

During that time I put myself through 8 years of education and also spent a semester in Paris.
My (old) car was bought when I was 21 with cash.

I will keep going like this for another 2 years and then scale back on working to have kids. I want to have more time at home and for home projects and family. 5 years ago, I couldnt imagine that :-)

frugalfanny

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Re: Progress for 20 something's
« Reply #155 on: November 23, 2016, 11:33:16 AM »

frugal in your name 5k is a ton for a wedding - also that's a pile sitting in cash if you had invested that 1 day prior to the election it would already have made you an extra 1k

Boarder--I agree it is a ton. But for me planning a gathering for my family and friends is worth the loss of cash. We're renting out a camp with cabins where everyone can stay the night. Family is cooking, baking the cake, making decorations, etc. I think my family will actually pay for the venue and other costs so I won't have to spend it, but I want to be prepared if I need to pay and I don't have any credit cards to carry the bill. The 5k is invested in a Wealthfront account. If you have a suggestion for a better place to stash it that I could withdraw from in the next year let me know.




boarder42

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Re: Progress for 20 something's
« Reply #156 on: November 23, 2016, 11:34:26 AM »

frugal in your name 5k is a ton for a wedding - also that's a pile sitting in cash if you had invested that 1 day prior to the election it would already have made you an extra 1k

Boarder--I agree it is a ton. But for me planning a gathering for my family and friends is worth the loss of cash. We're renting out a camp with cabins where everyone can stay the night. Family is cooking, baking the cake, making decorations, etc. I think my family will actually pay for the venue and other costs so I won't have to spend it, but I want to be prepared if I need to pay and I don't have any credit cards to carry the bill. The 5k is invested in a Wealthfront account. If you have a suggestion for a better place to stash it that I could withdraw from in the next year let me know.

the latter comment was towards the 15k you have sitting in cash.  and there are much better places to put money than wealthfront.  vanguard being one of them.
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frugalfanny

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Re: Progress for 20 something's
« Reply #157 on: November 23, 2016, 11:51:11 AM »

the latter comment was towards the 15k you have sitting in cash.  and there are much better places to put money than wealthfront.  vanguard being one of them.

Gotcha--10k of the 15k is my 6 month emergency fund in CDs averaging only 1.3%... I know there's some debate about the necessity of an emergency fund. Would you recommend putting emergency fund money in Vanguard?

The other 5k:
3500 Checking account balance, one months expenses ($1300 goes to paying down student loan debt)
1000 Savings Account balance
500 Christmas money

I thought I was frugal but compared to Mustachians I am a spendypants. I am aspiring to come over to the MMM side at my pace, which is slow. It's a learning process for me so thanks for the advice.



boarder42

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Re: Progress for 20 something's
« Reply #158 on: November 23, 2016, 12:15:39 PM »
i keep my E fund in vanguard. VTSAX i keep all of my soldiers invested.  i live leveraged out with credit cards basically.  at any given point in time what i owe on CC's(that are paid down each month) is about equal to whats in my bank account.  every other penny goes into VTSAX. you have to find your own confort level but 10k not invest is a lot over the course of your life.  if push comes to shove you can put expenses on a credit card and then sell some of the investment. But what if i have to sell at a loss.  history would tell us this is highly unlikely but you can play the game however you like.
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adizb

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Re: Progress for 20 something's
« Reply #159 on: January 04, 2017, 09:32:46 AM »
Haha and i thought i was doing ok.... I started saving less than two years ago,  right around the time i bought a brand new car. Yes.... and despite all the advice around me not to do it i honestly saw nothing wrong with it. Then, when i had seemingly all i wanted, i started to wonder what to do with the money next. After some more  bla bla bla i finally found this awesome community and MMM.

Started saving instead of spending  and here's how it looks.

Im 28, single with annual income of ~55k


Cash: ~4.5k (sold some stocks to finally pay off the car)

401k: ~15k (on track to max it )

tIRA:  ~5.6k

Debt: ~3k (car)



I noticed im gaining about 3k a month, currently sitting around 22k NW. Its funny if i think about it, its like ive been pulled out of the matrix. Oblivious to the fact there was another world out there. Now that ive found it i thought i was Neo, you know the one, but after reading all previous replies i realize im just a scrubby side character. As depressing as it sounds im still happy where im heading though =)

Happy New year! A little update from me on how i'm progressing:

Cash: ~ $0.3k
401k: ~ $23.3k
tIRA: ~ $5.0k  (decrease from last post, made some silly moves in the market...)
Taxable Account Investment: ~ $11.3k
Lending Club: ~ $0.8k
Debt:  $13k  (this is a loan from my parents, they just kept it in the bank so now im keeping it for them and get to earn some better return on it)

Net Worth is ~ $27.7k. Not a huge jump from my last reported amount but going up. I have also finished my full year of keeping track of my expenses and sad to say my savings rate was only 65%, i thought it would be closer to 70% but that's something i can work on this year. Definitely had some stupid purchases i can avoid. I've also paid off my car completely! Feels amazing not having to make payments. I predict my 2017 work income to drop a little as i've been told Q1 will no longer have working sundays (which is a nice chunk of money and a reason why i made 55k last year). Slow and steady... into FI!
MMM activation 2015: NW -$29k
2016 NW $27k

...
FIRE 2025?

realtormustachian

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Re: Progress for 20 something's
« Reply #160 on: January 04, 2017, 10:37:12 AM »
This is my first post but I'm super excited for a board like this! I'm kind of in the middle of the race gauntlets, not in enough debt for an emergency, and feel too far away to discuss concrete plans so this thread has spoken to me the most!

25, in a committed relationship with a converting mustachian 26
Just started Mustachianism in November 2016, but have read almost everything. Started saving early 2015.

Cash: $13.5k
Investments: $17.5k
House Value: $138k
Loan: $123k
Car Loan: $3k (paid off in July)
Just paid off student loans! (though not much to brag about because thanks to financial aid ~$4.5k)
NW: $43k
Goal for 2017: Increase NW to $100k

This year I'm focusing on maxing out my SEP and Roth IRA (realtor so self-employed), minimizing my spending, and throwing the remainder into my Vanguard and HSA to build up a healthy deductible budget.
Realtor in Atlanta, Harvard Grad, looking forward to pursuing whatever I can come up with.

ZagNation

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Re: Progress for 20 something's
« Reply #161 on: January 04, 2017, 01:48:54 PM »
Upon graduating in 2012, I began working for a fortune 100 retail corporation and knew I had to pay my dues at a warehouse. Needless to say, putting my degree to use was the first order of business followed by earning a higher salary. At the age of 26 I am less deserving of face punches but hey, we all have to begin somewhere right? Last year I experienced a 30% salary increase after leaving the HR world and securing a business intelligence analyst position. Equally notable is I paid off ~9K in consumer sucka credit card debt. Next on the chopping block is paying off my motorcycle and student loans by the end of 2017...

Salary Progression: 23K @ 9/1/12 --> 32K @ 10/1/13 --> 45K @ 10/1/14 --> 53K @ 7/1/15 --> 69K @ 8/1/16
Cash: $1K
401K: $6.2K
Motorcycle Loan: $4.1K
Student Loans: $17K
NW: -$14.2K

By this Thanksgiving I project my NW will be positive and I'll be debt free. 2018 will mark the year that I max out my 401K and I cannot wait until my 50% savings rate goes entirely towards increasing my NW as opposed to paying off debt. A stretch goal for myself is 100K NW by 30. Happy New Year all!

monstermonster

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Re: Progress for 20 something's
« Reply #162 on: January 04, 2017, 03:58:31 PM »
Well, I only have 6 months left of being in my 20's. Net worth is holding steady at $20,000, but unfortunately won't be going up much in the near future as I get my business off the ground that I started a few months back. My 10-hour-week side job is holding me steady but it isn't increasing my net worth by more than $100-200/month as that's about the max I can save off that income.

Goal is to increase my net worth by $12,000 before I'm out of my twenties (bday is 7/7). Think I can do it?
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OvertheRainbow

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Re: Progress for 20 something's
« Reply #163 on: January 23, 2017, 11:32:21 PM »
Man, I feel like such a slacker in this thread.

Just turned 25 years old. Here are my stats as of today:

Roth IRA- approx 12k
403b- approx 7k
457b- approx. 1k
PERS- approx. 23k
Cash- approx. 23k
ETA a RMD: - approx. 4k
No debt, a seven year old Honda. No home either.

My goal is to have 150k in retirement by age thirty, preferably 200k. 43k down, 57k more to go!

Time for an update:
Roth- approx 17.8k (maxed for 2017)
403b- approx 13.1k
457b- approx 2.6k
PERS- approx 26.6k
Cash- probably still 23k. I don't keep strict track over it
RMD- approx 5.3k

New goal: Have 30k in 403b and approx 8-9k in 457b by the end of this year.

Metric Mouse

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Re: Progress for 20 something's
« Reply #164 on: January 23, 2017, 11:36:34 PM »
Upon graduating in 2012, I began working for a fortune 100 retail corporation and knew I had to pay my dues at a warehouse. Needless to say, putting my degree to use was the first order of business followed by earning a higher salary. At the age of 26 I am less deserving of face punches but hey, we all have to begin somewhere right? Last year I experienced a 30% salary increase after leaving the HR world and securing a business intelligence analyst position. Equally notable is I paid off ~9K in consumer sucka credit card debt. Next on the chopping block is paying off my motorcycle and student loans by the end of 2017...

Salary Progression: 23K @ 9/1/12 --> 32K @ 10/1/13 --> 45K @ 10/1/14 --> 53K @ 7/1/15 --> 69K @ 8/1/16
Cash: $1K
401K: $6.2K
Motorcycle Loan: $4.1K
Student Loans: $17K
NW: -$14.2K

By this Thanksgiving I project my NW will be positive and I'll be debt free. 2018 will mark the year that I max out my 401K and I cannot wait until my 50% savings rate goes entirely towards increasing my NW as opposed to paying off debt. A stretch goal for myself is 100K NW by 30. Happy New Year all!

Oooh... what kind of motorcycle?
Give me one fine day of plain sailing weather and I can mess up anything.

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ZagNation

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Re: Progress for 20 something's
« Reply #165 on: January 25, 2017, 01:28:28 PM »
Upon graduating in 2012, I began working for a fortune 100 retail corporation and knew I had to pay my dues at a warehouse. Needless to say, putting my degree to use was the first order of business followed by earning a higher salary. At the age of 26 I am less deserving of face punches but hey, we all have to begin somewhere right? Last year I experienced a 30% salary increase after leaving the HR world and securing a business intelligence analyst position. Equally notable is I paid off ~9K in consumer sucka credit card debt. Next on the chopping block is paying off my motorcycle and student loans by the end of 2017...

Salary Progression: 23K @ 9/1/12 --> 32K @ 10/1/13 --> 45K @ 10/1/14 --> 53K @ 7/1/15 --> 69K @ 8/1/16
Cash: $1K
401K: $6.2K
Motorcycle Loan: $4.1K
Student Loans: $17K
NW: -$14.2K

By this Thanksgiving I project my NW will be positive and I'll be debt free. 2018 will mark the year that I max out my 401K and I cannot wait until my 50% savings rate goes entirely towards increasing my NW as opposed to paying off debt. A stretch goal for myself is 100K NW by 30. Happy New Year all!

Oooh... what kind of motorcycle?

That would be a brand new leftover 2014 Kawasaki Ninja 300. Have been an avid motorcycle fan for as long as I can remember and it was a graduation present to myself (more debt, yes I know). If I could go back in time knowing what I know now, I would still purchase Scarlett as the elation and pure joy I receive riding is worth the price of admission.

l2jperry

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Re: Progress for 20 something's
« Reply #166 on: January 25, 2017, 06:11:31 PM »
Just turned 26 today... and I am starting to feel old!

425k Investments
75k cash
NW right around 500k.

Yes I know that's a lot of cash, but I'm looking to getting into rentals.

Single, and a small business owner. (Ecommerce)... I do have an associates degree from local college. I don't own a house.


Saskatchewstachian

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Re: Progress for 20 something's
« Reply #167 on: January 26, 2017, 08:34:02 AM »
Just turned 26 today... and I am starting to feel old!

425k Investments
75k cash
NW right around 500k.

Yes I know that's a lot of cash, but I'm looking to getting into rentals.

Single, and a small business owner. (Ecommerce)... I do have an associates degree from local college. I don't own a house.

Well done JP, very impressive for a single income earner. One of the big things about the associated degree is that you can get into the workforce a couple years earlier than the Bachelor's route and it's obviously paid off for you.

Raenia

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Re: Progress for 20 something's
« Reply #168 on: January 26, 2017, 09:26:29 AM »
Found MMM last year, but I've had decent savings habits since graduating.  Still struggling to feel like I'm making progress, though, I always feel like there should be something I can do right now to do better ;)  I'm 27.

Cash Savings: 5k Emergency Fund
Retirement Accounts: 18k (401k and tIRA)
Investments: 80k
Debt: 0

Bumbles8

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Re: Progress for 20 something's
« Reply #169 on: January 27, 2017, 04:34:24 PM »
22, out of university since May.  Engineer in LCOL area

From last month:

Bank: ~7200
Roth: ~3000
401k:  ~8700  (I do not count match because it is not vested yet)
Debt: 12k   (loan)

Roughly 7k net worth

The good news:  I realized today I increase my net worth about ~$2500 a month.
    Hoping this year I add 30k to my net worth.
    Goal currently is to add 100k within 3 years

Metric Mouse

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Re: Progress for 20 something's
« Reply #170 on: January 27, 2017, 04:52:27 PM »
Upon graduating in 2012, I began working for a fortune 100 retail corporation and knew I had to pay my dues at a warehouse. Needless to say, putting my degree to use was the first order of business followed by earning a higher salary. At the age of 26 I am less deserving of face punches but hey, we all have to begin somewhere right? Last year I experienced a 30% salary increase after leaving the HR world and securing a business intelligence analyst position. Equally notable is I paid off ~9K in consumer sucka credit card debt. Next on the chopping block is paying off my motorcycle and student loans by the end of 2017...

Salary Progression: 23K @ 9/1/12 --> 32K @ 10/1/13 --> 45K @ 10/1/14 --> 53K @ 7/1/15 --> 69K @ 8/1/16
Cash: $1K
401K: $6.2K
Motorcycle Loan: $4.1K
Student Loans: $17K
NW: -$14.2K

By this Thanksgiving I project my NW will be positive and I'll be debt free. 2018 will mark the year that I max out my 401K and I cannot wait until my 50% savings rate goes entirely towards increasing my NW as opposed to paying off debt. A stretch goal for myself is 100K NW by 30. Happy New Year all!

Oooh... what kind of motorcycle?

That would be a brand new leftover 2014 Kawasaki Ninja 300. Have been an avid motorcycle fan for as long as I can remember and it was a graduation present to myself (more debt, yes I know). If I could go back in time knowing what I know now, I would still purchase Scarlett as the elation and pure joy I receive riding is worth the price of admission.

Nice! I haven't had a chance to buzz around on the 300. They seem like just about everything one would need.
Give me one fine day of plain sailing weather and I can mess up anything.

MustacheMathTM

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Re: Progress for 20 something's
« Reply #171 on: January 27, 2017, 04:53:06 PM »
Just turned 26 today... and I am starting to feel old!

425k Investments
75k cash
NW right around 500k.

Yes I know that's a lot of cash, but I'm looking to getting into rentals.

Single, and a small business owner. (Ecommerce)... I do have an associates degree from local college. I don't own a house.

Nice. I'd wish you good luck, but you've clearly go things figured out very well!
Give me one fine day of plain sailing weather and I can mess up anything.

MustacheMathTM

akzidenz

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Re: Progress for 20 something's
« Reply #172 on: February 04, 2017, 04:41:50 PM »
401k$4k
Roth IRA$10k
Emergency fund$3k
Net worth$17k
401k$12.5k(+$8.5k)
Roth IRA$12.5k(+$2.5k)
Emergency fund$9.5k(+$6.5k)
Taxable investments$3k(new)
Net worth$37.5k(+$20.5k)

Some unfortunate roadbumps that led to me pulling from my emergency fund, and unfortunately my savings rate dipped

401k$20.5k(+$8k)
Roth IRA$15.5k(+$3k)
Emergency fund$4k($5.5k, but $2.5k was a security deposit)
Taxable investments$9k(+$6k)
Net worth$49k(+$11.5k)

This net worth doesn't include money that I have in my checking account. If I include that, my actual net worth is more like $50k.

LuxuryIsADrug

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Re: Progress for 20 something's
« Reply #173 on: February 04, 2017, 11:18:46 PM »
Canadian. 27, male, single.

Debt: -$35,500 @ 5.1%
Investments: $24,000

NW: -$11,500

76 Days later:

Canadian. 27, male, single.

Debt: -$30,900 @ 5.1%
Investments: $27,850

NW: -$75

This averages to $150/day. Sadly, this is not sustainable (83% savings rate). At my current income I could probably max out around $100/day when including my workplaces matching plan. Interestingly, that comes out to a 55% savings rate.

« Last Edit: February 04, 2017, 11:32:37 PM by LuxuryIsADrug »

kissthesky

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Re: Progress for 20 something's
« Reply #174 on: February 05, 2017, 01:29:01 PM »
Great to see other young mustachians here! Most friends my age think I'm nuts.

27 years old, F
Statistician @ tech company
HCOL area

Cash: $45k
Brokerage: $130k
401ks: $180k
IRAs: $40k
HSA: $15k
Home cost - mortgage: $100k (although value has gone up by ~50k since I bought it)

Net worth: ~$510k

Excited that I hit the 500k milestone last month! Just gotta keep going... we can do it :)

frugalwitch

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Re: Progress for 20 something's
« Reply #175 on: February 05, 2017, 01:52:38 PM »
Canadian, Female, 27 years old, teacher.

Current NW : ~ 72k

Cash: 1k (EF)
Brokerage : 2k
Pension fund: 29k
Car : 10.4k
Home value: 120k
Rental condo: 100k

Personal loan: 11k @ 0%
Home mortgage: 108k
Rental condo mortgage: 71k

I contribute 620$/month in my pension fund and trying to put 650$ per month into my debt/TFSA for 2017.

Fish Sweet

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Re: Progress for 20 something's
« Reply #176 on: February 06, 2017, 01:22:54 PM »
I'm 26, living in an extremely HCOL & car heavy area, and working a job that pays alright, but there's not much of a career path for.   On the plus side, I've got a lot of roommates, haha, I love where I live, and I'm on the slow and steady path toward FIRE.

Debt: $0!  Lucky enough to have gotten through undergrad living on apples and eggs, grants, scholarships, and enough parental assistance to never take out loans.
Cash: 13k
Investments: ~83k, split between Vanguard and a family broker I used before I knew any better. 
Vehicle: I drive a 15 yo beat ass Infiniti, a graduation gift from my dad.   Planning on driving it into the ground if I possibly can, but it's worth maaaybe 2k on a good day, and I wouldn't bet on it.

~95-100k at the moment, which is a nice feeling.  I'm hoping to break 125k this coming year, and really push to save as hard as I can and maybe find something in the way of a side hustle to speed up my savings!

BCpuppy

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Re: Progress for 20 something's
« Reply #177 on: February 12, 2017, 12:41:42 PM »
27, married

Cash 49,000 (lg portion is savings for my grad school tuition)
Investments 25,000
House worth 270,000

Debt: 65000 (under 3% student loans from my husband schooling)
240000 mortgage

Net worth:~40,000

Not horrible considering our net worth was -140,000 just a year and half ago

Philociraptor

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  • Age: 27
  • Location: DFW, TX
  • FIRE Deadline: May 2029
Re: Progress for 20 something's
« Reply #178 on: February 13, 2017, 01:57:52 PM »
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).

Quoting myself to show progress. Now I'm 27.6, wife is 27.7, married 2.7 years. Combined numbers:

Cash savings - $2,000
Investments - $201,469
Home Value - $139,000
Debt - $162,328
Net Worth - $180,141

MrStash

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Re: Progress for 20 something's
« Reply #179 on: February 13, 2017, 04:34:49 PM »
27 year old here.

$34,417 in 401ks (some roth some traditional, all over the place in multiple accounts)
$22,162 in taxable Vanguard account
$3,636 in different savings accounts plus HSA
$63,775 in house equity (assuming I get $200,000 out of it after selling costs, this is conservative as the house is worth about $220,000)
$123990 total assets

Minus $21,016 car loans on two vehicles

$102,974 total NW

Not included day to day bank accounts and vehicle values.

At age 30 I'm hoping to be over $250,000 NW and $135,000 invested assets.

pattycakepdx

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Re: Progress for 20 something's
« Reply #180 on: February 16, 2017, 09:46:34 AM »
Turning 28 today! Husband is 28 as well.

My 401(k) from former employer $51,750
My 403(b) at current job             $17,000
Hubs 401(k)                                $10,000
Investments                                  $6,000
Debt (Hubs student loans)          $30,000

Total NW                                     $54,750

We have pretty minimal cash savings right now since we're trying to get his student loans paid off pretty aggressively. Once those are paid (should be no later than April 2018!), we'll focus on bulking up investments and cash savings to save a down payment for a house.

MrMath

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Re: Progress for 20 something's
« Reply #181 on: March 18, 2017, 03:19:06 PM »
If you are looking to retire early, I would look into maxing your 457 as those funds can be used at any time (after separating from your employer) without a tax penalty, unlike a 403b or traditional IRA.

Thanks! I missed that before. Rearranged contributions. Here's an update:
403b: 8,600
457b: 6,600 (now maxxing out, although less desirable options and fees)
Checking: 3,000
Gold: 1 oz 1,230
Taxable:5,350
Roth: 20,520
Savings: 300
Student Loans: -6600 ( forgiven in 5 yrs of teaching)

Net Worth 39,000 (+13500 since OCT)
« Last Edit: March 18, 2017, 03:40:47 PM by MrMath »