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.
| 401k | $4k |
| roth IRA | $3k |
| savings | $10k |
| debt | $0 |
| net worth | $17k |
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
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.
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
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
Goal for 2016: Max out IRA, get cash savings to $3000 (basically 3 months survival money), and put another 5000 towards debts.
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 25, (26 in a few weeks)
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.
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.
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.
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.
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.
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.
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.
Age 25, (26 in a few weeks)
Wow. Mind sharing your field?
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.
I may seem quite ahead of most of you especially only being 22 but do note that I dropped out of high school at 17, work 3 minimum wage jobs totaling 75 hours a week and use forex signals as an investment (most here call it gambling). I also own an apartment in the greater region of Sydney that I'm paying off.
All below figures in AUD not USD and all earned through my own hands starting off with $0 in June 2012!
Total Money: $209,039
Bank Account: $1467 (only for paying bills)
Forex Balance: $117,691
Property Equity: $89,881
Property Loan Left: $495,000
Note that things will SLOW DOWN at the end of this year as I drop down to one job (my dream job but crap pay, barely $100 per week when you start). I will also be moving away from damn expensive Sydney (my silly 1 bedroom unit in the greater region of Sydney worth almost $600,000 for less than 50 square metres!) to the greater region of Hobart, where I will spend $200,000ish to buy a house with a decent amount of land outright and invest the rest while living frugally and working my dream job.
Although I've earned over $50,000 (total gained minus losses) in the past 2 years with forex I will be ditching it as I feel eventually my "luck" will run out. I have nothing in shares so I'll put what I have left over after buying the house into a wide range of shares and build them up over time (holding and keeping to collect dividends).
I'm single and plan to stay single for as long as possible which is easy as an Asexual.
I've always thought more young Asexuals would be more drawn to start saving young vs non-Asexuals.
Yay, I love coming here and having people not only understand what "asexual" means, but also meeting other Asexuals here too. Lol, the grammar in that sentence I just wrote was awful...
I've always thought more young Asexuals would be more drawn to start saving young vs non-Asexuals. Anyway, nice to meet you here ;)
Yay, I love coming here and having people not only understand what "asexual" means, but also meeting other Asexuals here too. Lol, the grammar in that sentence I just wrote was awful...
I've always thought more young Asexuals would be more drawn to start saving young vs non-Asexuals. Anyway, nice to meet you here ;)
Because one is less likely to throw money around trying to impress potential dates, you mean? Stands to reason. Peacocking can get expensive.
Yay, I love coming here and having people not only understand what "asexual" means, but also meeting other Asexuals here too. Lol, the grammar in that sentence I just wrote was awful...
I've always thought more young Asexuals would be more drawn to start saving young vs non-Asexuals. Anyway, nice to meet you here ;)
Because one is less likely to throw money around trying to impress potential dates, you mean? Stands to reason. Peacocking can get expensive.
Is peacocking a major money drain for so many people? I took it to mean they inferring asexuals are naturally more frugal than others? A car addiction or preference for travel could easily out weigh going out for drinks a few times a month with another person...
Yay, I love coming here and having people not only understand what "asexual" means, but also meeting other Asexuals here too. Lol, the grammar in that sentence I just wrote was awful...
I've always thought more young Asexuals would be more drawn to start saving young vs non-Asexuals. Anyway, nice to meet you here ;)
Because one is less likely to throw money around trying to impress potential dates, you mean? Stands to reason. Peacocking can get expensive.
Is peacocking a major money drain for so many people? I took it to mean they inferring asexuals are naturally more frugal than others? A car addiction or preference for travel could easily out weigh going out for drinks a few times a month with another person...
Well, I certainly can't speak to how Jupiter meant the comment. And as a not asexual person, I would not want to opine on whether asexual people have fundamentally different spending personalities in general, outside of the difference in sexual desire. (I'd guess not, because people are people, but again, not my Area of Expertise).
But yes, I think peacocking is VERY expensive :) Don't just think of the money one spends on actual dates or gifts purchased for partners (which can definitely add up), think also of all the money people spend cultivating an exciting and sexy image designed to attract others. Especially for 20-somethings who still hang a lot of their self-worth on their sexual attractiveness to other people. Hell, I'm long married to a person who is not at all picky about how I look, and I *still* spend a good amount of time and money on makeup, skincare, haircare, exercise, clothing, waxing, etc., all aimed at making myself look hot. I spend money on cocktails and coffee as a social lubricant to get to know people better and facilitate flirting. I tend to go places where there will be other young people doing this sort of peacocking (bars, concerts, sporting events), where we all peer pressure each other into being profligate spenders. And I'm not even single! It's maddening.
ETA: I think plenty of people also buy fancier cars and rent fancier apartments than they otherwise would to cultivate this image, so it can extend to big-ticket items as well. Sex (and marketing that equates consumption with better sexual outcomes) is a pretty powerful motivator, even if in your logic brain you know that spending $10k more on a car =/= more sex.
I'm 24 and married (DH is 26). We are both engineers.
Checking + Online Savings: $70K
Retirement Accounts: $90K (tIRA-him=$31,400, rIRA-her=$6,700, 401K-her=48,800 HSA-her=2,300)
Taxable Accounts: $0
Debts: $0
NW: 160K
*Note: Our NW is about to plummet to about -$80K as we are buying a house with all of our cash from our online savings.
Paying off that much debt in such a short span of time is impressive! Keep it up!
I'm currently 23 years old
debt:10k (car loan)
savings: 11k
invenstments: 0
NW: 1k
Plan:
*I knocked out my 18k school loan in a little over a year and was very excited.
*Im going to start investing about $100 buck a month into either a roth ira or low cost index fund
*I'm saving up for a rental property something from 80 to 125k probably and will live in 1 units to reduce my expenses and hopefully make a little money if possible. Hopefully with in the next 6 months to a year (my girl friend will be splitting this with me)
*I currently save 46% of my take home pay and hope to get it to 75% in the next 3 years.
*After i get the rental property paid off I want to diversify my money between some more investment properties and low cost index fund.
*I'm shooting to retire by 40 at the latest.
2 hsa salary deduct if availableI don't think the hsa salary deduct is #2 always simply because
2 hsa salary deduct if availableI don't think the hsa salary deduct is #2 always simply because
1) many people can't afford to go on a high deductible plan because of high cost medical issues (i.e. my medication costs $33,000/year)
2) a Roth is more flexible by a long shot than an HSA
3) if you're in a lower income threshold the HSA doesn't qualify for the savers credit but the Roth does
2 hsa salary deduct if availableI don't think the hsa salary deduct is #2 always simply because
1) many people can't afford to go on a high deductible plan because of high cost medical issues (i.e. my medication costs $33,000/year)
2) a Roth is more flexible by a long shot than an HSA
3) if you're in a lower income threshold the HSA doesn't qualify for the savers credit but the Roth does
Yes of course there are exceptions but that is the general order for most around here. Most of my point was around the red flags that the poster said Roth OR low cost index. That's not an either or
2 hsa salary deduct if availableI don't think the hsa salary deduct is #2 always simply because
1) many people can't afford to go on a high deductible plan because of high cost medical issues (i.e. my medication costs $33,000/year)
2) a Roth is more flexible by a long shot than an HSA
3) if you're in a lower income threshold the HSA doesn't qualify for the savers credit but the Roth does
Yes of course there are exceptions but that is the general order for most around here. Most of my point was around the red flags that the poster said Roth OR low cost index. That's not an either or
Agreed on that front. Just making sure the HSA exceptions were noted for posterity on this thread.
Sometimes people fail to start Roths early and they lose out on the 5-year ladder.
Just turned 20 last week, entering first year of university in the UK, dropped out of first year of a different degree last year so I'm behind a couple of years university-wise
Cash: £27k
Debt: £0 (paid last year's tuition and expenses with side hustle income and hopefully can do the same going forward)
Money from side hustle I lent to family that is to be repaid when I graduate: £80k
Net worth: £107k
Seems crazy, but in a way I'm hoping to FIRE out of university if the numbers add up
Just turned 20 last week, entering first year of university in the UK, dropped out of first year of a different degree last year so I'm behind a couple of years university-wise
Cash: £27k
Debt: £0 (paid last year's tuition and expenses with side hustle income and hopefully can do the same going forward)
Money from side hustle I lent to family that is to be repaid when I graduate: £80k
Net worth: £107k
Seems crazy, but in a way I'm hoping to FIRE out of university if the numbers add up
whats your side hustle and are you making them pay you back in interest?
If anyone has tips for boosting my income i would appreciate it
There are some impressive incomes in this thread. Anyways my NW
26, Single, HCOL, Renting with 3 roommates, Income $52,000
Retirement: 26,625
Taxable: 64,410
Cash: 9,965
Debt: 0
Total NW: 101,000
There are some impressive incomes in this thread. Anyways my NW
26, Single, HCOL, Renting with 3 roommates, Income $52,000
Retirement: 26,625
Taxable: 64,410
Cash: 9,965
Debt: 0
Total NW: 101,000
thats a pile sitting in taxable with that income compared to retirement.
There are some impressive incomes in this thread. Anyways my NW
26, Single, HCOL, Renting with 3 roommates, Income $52,000
Retirement: 26,625
Taxable: 64,410
Cash: 9,965
Debt: 0
Total NW: 101,000
thats a pile sitting in taxable with that income compared to retirement.
I know, before I really knew what I was doing back when I was 18ish, I just put everything into taxable, and picked certain stocks. It's worked out well, as I've owned a few winning stocks and have sold out at the right time. Hence why it's so large in comparison. but since turning 23 I've been maxing out my Roth IRA, and putting in slightly more than matching into my 401k. Looking to drive those accounts up more going forward.
Mostly because it doesn't make sense, it's good to have all three types of accounts. Roth, 401k, and Taxable. The taxable makes sense for big purchases since you'll only see a 15% capital gains tax. the 401k is great for when I'm 59.5. While the Roth will be ideal in my 40's so I figure make the taxable large so I can use it as more or less a safety net or if I decide to make a large purchase like a house, or other type of investment.
Mostly because it doesn't make sense, it's good to have all three types of accounts. Roth, 401k, and Taxable. The taxable makes sense for big purchases since you'll only see a 15% capital gains tax. the 401k is great for when I'm 59.5. While the Roth will be ideal in my 40's so I figure make the taxable large so I can use it as more or less a safety net or if I decide to make a large purchase like a house, or other type of investment.
Age 22, single. Fresh out of college.
$25k retirement
$15k cash (going towards house downpayment)
$5k car
$0 debt
NW $40k
Pretty crazy how some people already have a quarter mill at my age.
28, Married, One Child. Wife and I both work decent paying full-time jobs. Live in a high cost area. Not as frugal as I would like us to be but not horrible either.
The PLUSES:
Cash: $25k
Car Value: $24K
Investments: $120K (401ks, Roth IRA)
Pension: $10K
Home Value: $389K
THE MINUSES:
Car Loan: $15K @0.9%
Mortgage: $334K @ 4.1%
Current Credit Card Balance (pay off monthly): $1K
Net worth approximately $215K
Mostly because it doesn't make sense, it's good to have all three types of accounts. Roth, 401k, and Taxable. The taxable makes sense for big purchases since you'll only see a 15% capital gains tax. the 401k is great for when I'm 59.5. While the Roth will be ideal in my 40's so I figure make the taxable large so I can use it as more or less a safety net or if I decide to make a large purchase like a house, or other type of investment.
Depends on how you plan to spend later in life... Most people here max every penny allowed into pre-tax, put zero in Roth, and everything else in taxable and plan to use different methods to use pre tax money like the Roth conversion ladder method.
Mostly because it doesn't make sense, it's good to have all three types of accounts. Roth, 401k, and Taxable. The taxable makes sense for big purchases since you'll only see a 15% capital gains tax. the 401k is great for when I'm 59.5. While the Roth will be ideal in my 40's so I figure make the taxable large so I can use it as more or less a safety net or if I decide to make a large purchase like a house, or other type of investment.
Depends on how you plan to spend later in life... Most people here max every penny allowed into pre-tax, put zero in Roth, and everything else in taxable and plan to use different methods to use pre tax money like the Roth conversion ladder method.
Most people don't contribute to a Roth here? My plan after I finish killing my student loans is to keep my 401k at the company match, start contributing to a Roth account, and save up for a down payment on a house. The Roth plan is just because that is what is recommended on the personal finance subreddit....but I do like the flexibility it offers for taking money out. I'd love to hear your opinion on it.
Mostly because it doesn't make sense, it's good to have all three types of accounts. Roth, 401k, and Taxable. The taxable makes sense for big purchases since you'll only see a 15% capital gains tax. the 401k is great for when I'm 59.5. While the Roth will be ideal in my 40's so I figure make the taxable large so I can use it as more or less a safety net or if I decide to make a large purchase like a house, or other type of investment.
Depends on how you plan to spend later in life... Most people here max every penny allowed into pre-tax, put zero in Roth, and everything else in taxable and plan to use different methods to use pre tax money like the Roth conversion ladder method.
Most people don't contribute to a Roth here? My plan after I finish killing my student loans is to keep my 401k at the company match, start contributing to a Roth account, and save up for a down payment on a house. The Roth plan is just because that is what is recommended on the personal finance subreddit....but I do like the flexibility it offers for taking money out. I'd love to hear your opinion on it.
Today was a discouraging day for me. My MIL more or less laughed at my idea to FIRE within 20 years, my own mother admitted she had doubts, and worst of all, my SO has doubts too. Especially if we have kids. I figured someone here would understand this feeling when everyone doubts you. How do you pick yourself up and get back in the FIRE mindset?
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.
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.
You must live in a HCOL city for a "small two bedroom" to be worth $610,000
I am 28, married, no kids.
Cash savings - $30000
Investments - $1500
Home Value - $130000
Debt - $0
Yikes I hate seeing so little in investments but we just switched my IRA to Vangaurd and are taking it seriously now. I didn't know much about it before - investing - and plan to max out my IRA this year. Also want to open an IRA for my husband to start investing in. Definitely are focus now. We also are on track now of saving 50% of income, which we will continue to try and raise. Overall.. I guess it's ok for my age but still wish we had more invested.
The negatives: I rent, and a pretty high cost place as well. Around 850 bucks a month, including utilities and Internet anservice basic cable. Was trigger shy on buying, considering I was laid off from my last job. Gonna rent for at least a year.
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!
The negatives: I rent, and a pretty high cost place as well. Around 850 bucks a month, including utilities and Internet anservice basic cable. Was trigger shy on buying, considering I was laid off from my last job. Gonna rent for at least a year.Renting is a positive generally when it comes to mustachian net worth. Check out JCollinsNh's work on the subject. (http://jlcollinsnh.com/2012/02/23/rent-v-owning-your-home-opportunity-cost-and-running-some-numbers/)
Interesting how you can compare yourself to "real life" friends/peers and feel like a financial badass... then the minute you start comparing to some of the higher net worth people on this forum, you suddenly fall way behind the curve.
Perspective is a funny thing. Motivating as hell, though.
The negatives: I rent, and a pretty high cost place as well. Around 850 bucks a month, including utilities and Internet anservice basic cable. Was trigger shy on buying, considering I was laid off from my last job. Gonna rent for at least a year.Renting is a positive generally when it comes to mustachian net worth. Check out JCollinsNh's work on the subject. (http://jlcollinsnh.com/2012/02/23/rent-v-owning-your-home-opportunity-cost-and-running-some-numbers/)
The negatives: I rent, and a pretty high cost place as well. Around 850 bucks a month, including utilities and Internet anservice basic cable. Was trigger shy on buying, considering I was laid off from my last job. Gonna rent for at least a year.Renting is a positive generally when it comes to mustachian net worth. Check out JCollinsNh's work on the subject. (http://jlcollinsnh.com/2012/02/23/rent-v-owning-your-home-opportunity-cost-and-running-some-numbers/)
As often as this is repeated, it seems so few people know this fact. Even fewer seem to take it to heart, based on all of the 'pay off my house?' threads here...
I of course agree that when it comes to any investment as narrow as a single structure on a single piece of land in a single neighborhood, personal finance is personal and there's no guarantees.The negatives: I rent, and a pretty high cost place as well. Around 850 bucks a month, including utilities and Internet anservice basic cable. Was trigger shy on buying, considering I was laid off from my last job. Gonna rent for at least a year.Renting is a positive generally when it comes to mustachian net worth. Check out JCollinsNh's work on the subject. (http://jlcollinsnh.com/2012/02/23/rent-v-owning-your-home-opportunity-cost-and-running-some-numbers/)
As often as this is repeated, it seems so few people know this fact. Even fewer seem to take it to heart, based on all of the 'pay off my house?' threads here...
I think it really depends on your market and lifestyle.
It's pretty easy to run the numbers and figure out what the most advantageous decision is. I do think too many people just assume home buying is best without confirming their biases though. It's certainly not a "fact" that renting is better though.
http://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html
As an example, my NW is currently about 10k higher than it would be had I not bought a house just a year ago.
In a few years, when you want to move, instead of selling your house, try to hang onto the asset and rent it. It will make a huge difference on your net worth statement when you are 40.
Oof. Owning rental homes has made a HUGE difference in the net worth of my SO, however, that was once he 1) had a lot of liquid cash assets because his business got sold and 2) because he bought the properties to rent out so he made the calculations for that, rather than for SFH.In a few years, when you want to move, instead of selling your house, try to hang onto the asset and rent it. It will make a huge difference on your net worth statement when you are 40.
Yes. If one house is a poor choice, multiple houses is clearly the answer! :D Because renting a house always makes money... MustacheMath!
Oof. Owning rental homes has made a HUGE difference in the net worth of my SO, however, that was once he 1) had a lot of liquid cash assets because his business got sold and 2) because he bought the properties to rent out so he made the calculations for that, rather than for SFH.In a few years, when you want to move, instead of selling your house, try to hang onto the asset and rent it. It will make a huge difference on your net worth statement when you are 40.
Yes. If one house is a poor choice, multiple houses is clearly the answer! :D Because renting a house always makes money... MustacheMath!
His "disaster house" is a house he unfortunately still owns and rents out. He bought when he was in college because "it made sense at the time" (this was 2007) between bad tenants, vacancy, repairs, being a remote landlord 1.5 hours away, a market that fell apart in CollegeTown, a property manager who ended up stopped fixing things or sending rent to him (that he's had to take to court), and the initial interest rates on the home, it's all been a disaster.
Buying a house for the qualities you want in a SFH is totally different than properties you are trying to make an income off of. There's very different calculations. (http://affordanything.com/2012/01/25/income-property/) Most people don't buy into a SFH by calculating the going rate in the local rental market and their buying process does not include the types of calculations you should do for a rental. If you are considering moving "up" (or even "down" since this is MMM) in house and renting out your owned house, make sure the house actually meets the criteria that you would follow to invest in the property on its own merits, not just based on the "sunk cost" of owning the home. Also decide if you really want the "not passive" income of owning properties - you need to be willing to take the cut on your investment (much higher than expense ratios) of a property manager, or have the skills, tools, and flexibility to handle maintenance, emergencies, and turnover for your property.
Landlording isn't for everyone and the people who lose at it are the people who don't go into it with their head on straight with the numbers.
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!
You have 66k in investments/cash already. Adding 84k to that in 5 years should be a cakewalk, that's only $16,800 a year or $1,400 a month. That's assuming you get no growth, dividends, inheritance, or windfalls in that time.
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.I love your sense of humor about it.
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 =)
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.I love your sense of humor about it.
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 =)
Some Mustachians, act like they have never made any mistakes...especially the young ones lol. (It can get nauseating after a while).
Your experience about feeling like Neo coming out of the matrix mirrors my own.
Kudos! Keep it up man.
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 $10k emergency fund $3k debt $0 net worth $17k
| 401k | $12.5k | (+$8.5k) |
| roth IRA | $12.5k | (+$2.5k) |
| emergency fund | $9.5k | (+$6.5k) |
| taxable investments | $3k | (new) |
| debt | $0 | |
| net worth | $37.5k | (+$20.5k) |
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+
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!
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 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
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.
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 =)
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!
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!
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?
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.
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 (http://pictures.topspeed.com/IMG/crop/201311/kawasaki-ninja-300-s-3_800x0w.jpg) as the elation and pure joy I receive riding is worth the price of admission.
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.
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)
| 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) |
Canadian. 27, male, single.
Debt: -$35,500 @ 5.1%
Investments: $24,000
NW: -$11,500
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).
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.
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.
Coming up on 25. Single no kids.One wonders how you can save up $279k by 25 years old? Of course you're not even the most ambitious of those on this thread, but I'm assuming in many of these cases there has been major family assistance. Not that people need to be apologizing for that, but I do think it'd be helpful and less discouraging to others to provide some context in these extreme cases. Most 25 year olds haven't made more than $150k or so in their lifetime, let alone $300k, and you're saying you SAVED that amount. Pretty mind-blowing. It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
Current Status
401k: 36k
Roth IRA: 13.5k
Taxable accounts: 43k
Cash: 44k (Way too much... currently investment house hunting)
HSA: 2.3k
Debt: 0
Currently own my condo and co-own an investment home outright. Both are cash positive.
Also own a small fleet of cars and motorcycles outright.
Room for improvement:
Frills spending; everything from trips abroad to packing lunch
Lifestyle creep ~20k/year - I would like to fully rent out my condo and try living in a van to re-baseline
Vehicles are all non-mustachian and typically depreciating money pits however they're one of my few passions
Summary:
NW excluding vehicles: 279k
FIRE target is 2028 / 35 years old
Coming up on 25. Single no kids.One wonders how you can save up $279k by 25 years old? Of course you're not even the most ambitious of those on this thread, but I'm assuming in many of these cases there has been major family assistance. Not that people need to be apologizing for that, but I do think it'd be helpful and less discouraging to others to provide some context in these extreme cases. Most 25 year olds haven't made more than $150k or so in their lifetime, let alone $300k, and you're saying you SAVED that amount. Pretty mind-blowing. It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
Current Status
401k: 36k
Roth IRA: 13.5k
Taxable accounts: 43k
Cash: 44k (Way too much... currently investment house hunting)
HSA: 2.3k
Debt: 0
Currently own my condo and co-own an investment home outright. Both are cash positive.
Also own a small fleet of cars and motorcycles outright.
Room for improvement:
Frills spending; everything from trips abroad to packing lunch
Lifestyle creep ~20k/year - I would like to fully rent out my condo and try living in a van to re-baseline
Vehicles are all non-mustachian and typically depreciating money pits however they're one of my few passions
Summary:
NW excluding vehicles: 279k
FIRE target is 2028 / 35 years old
Unless you have some fabulous tips that are not even being shared on MMM, I think it's fair to note that these results are not replicable without extreme external events.
To share with the thread, I'm 28 and have $185k in investments, $5k in 0% debt. I graduated at 23 so got a bit of a late start there, but lived rent-free for 2 years with my dad and then kept expenses low (see my journal in sig for details). During my 4 years of work experience I made between $50-80k, and for the last two years spent $15-16k annually. For the last 9 months I've had very little income as I'm getting a free graduate degree to boost future income and open up additional opportunities.
I realized early on that "Keeping up with the MMMers" would not make me any happier (or successful) than "keeping up with the Jones".Don't try to keep up with the MMMers. Don't try to keep up with the other "20 something's". Just try to improve your own situation and use these threads for motivation instead of treating them like a competition.
Coming up on 25. Single no kids.One wonders how you can save up $279k by 25 years old? Of course you're not even the most ambitious of those on this thread, but I'm assuming in many of these cases there has been major family assistance. Not that people need to be apologizing for that, but I do think it'd be helpful and less discouraging to others to provide some context in these extreme cases. Most 25 year olds haven't made more than $150k or so in their lifetime, let alone $300k, and you're saying you SAVED that amount. Pretty mind-blowing. It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
Current Status
401k: 36k
Roth IRA: 13.5k
Taxable accounts: 43k
Cash: 44k (Way too much... currently investment house hunting)
HSA: 2.3k
Debt: 0
Currently own my condo and co-own an investment home outright. Both are cash positive.
Also own a small fleet of cars and motorcycles outright.
Room for improvement:
Frills spending; everything from trips abroad to packing lunch
Lifestyle creep ~20k/year - I would like to fully rent out my condo and try living in a van to re-baseline
Vehicles are all non-mustachian and typically depreciating money pits however they're one of my few passions
Summary:
NW excluding vehicles: 279k
FIRE target is 2028 / 35 years old
Unless you have some fabulous tips that are not even being shared on MMM, I think it's fair to note that these results are not replicable without extreme external events.
To share with the thread, I'm 28 and have $185k in investments, $5k in 0% debt. I graduated at 23 so got a bit of a late start there, but lived rent-free for 2 years with my dad and then kept expenses low (see my journal in sig for details). During my 4 years of work experience I made between $50-80k, and for the last two years spent $15-16k annually. For the last 9 months I've had very little income as I'm getting a free graduate degree to boost future income and open up additional opportunities.
It bothers me that whenever younger members share high NW numbers there is always someone saying that they must have had family help in complainy-pants sorta way.
I'm 25. I received a sports scholarship which covered most of my tuition and engineering scholarships covered almost all the rest. I had multiple on-campus jobs and summer internships that paid well before I could legally drink. Graduated at 22 (took me 5 years so not early) and got a job making close to 90K and some minimal SLs (cheap state college) which hubs and I paid off in 6 months. NW is around 240K and we spent ludicrous amounts of money before we found MMM (i.e. fancy-ass wedding, Mercedes, etc). There are still many people on this forum that are doing better than me at a younger age and it doesn't discourage me. It motivates me.
Its true that I won the birth lottery. Its that it is much easier accruing money as DINKs. Its true that a lot of people get some help from their parents (mine helped me cover rent and some spending money each month). But I think it goes against the spirit of this forum to discount all younger members that are making great progress by saying they had "major family assistance". The success of others is only discouraging to you if you try and compare their situation to yours. We all have a different path to follow on our jouney to FIRE and I would appreciate it if you didn't downgrade others accomplishments because their path looks different than yours.
One of the best things I have ever read on this forum was when LWTG said:I realized early on that "Keeping up with the MMMers" would not make me any happier (or successful) than "keeping up with the Jones".Don't try to keep up with the MMMers. Don't try to keep up with the other "20 something's". Just try to improve your own situation and use these threads for motivation instead of treating them like a competition.
"I'm assuming in many of these cases there has been major family assistance."
I think it's fair to note that these results are not replicable without extreme external events.
I don't have an issue with you advocating for more context but you didn't say that.
I would argue that most people get some form of family help when they are going to college whether that be great guidance, a free place to stay, or financial help. I wouldn't classify any of that as "major family assistance".
It did take two incomes to get where we are today but DH was also unemployed for ~a year and we spent 30K+ on our wedding and another 30K+ on a car along with a lot of other unnecessary spending before we discovered MMM.
I don't think it is fair to say that. My life hasn't had any extreme external events. There are a lot of people on the forums and that I know IRL who were in the same situations with the same opportunities that I did. Writing off other's accomplishments because in your mind they are "extreme cases" doesn't do anyone any good.
How about next time you say something along the lines of "Awesome MikeW! That's soooper impressive for your age! How did you accomplish that?" instead of going on about how their post is discouraging to others and they must have had so much help or gotten really lucky. It just sounds like all the complainy-pants comments on the Mustaschianism Around The Web articles.
One wonders how you can save up $279k by 25 years old? Of course you're not even the most ambitious of those on this thread, but I'm assuming in many of these cases there has been major family assistance. Not that people need to be apologizing for that, but I do think it'd be helpful and less discouraging to others to provide some context in these extreme cases. Most 25 year olds haven't made more than $150k or so in their lifetime, let alone $300k, and you're saying you SAVED that amount. Pretty mind-blowing. It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
Unless you have some fabulous tips that are not even being shared on MMM, I think it's fair to note that these results are not replicable without extreme external events.
To share with the thread, I'm 28 and have $185k in investments, $5k in 0% debt. I graduated at 23 so got a bit of a late start there, but lived rent-free for 2 years with my dad and then kept expenses low (see my journal in sig for details). During my 4 years of work experience I made between $50-80k, and for the last two years spent $15-16k annually. For the last 9 months I've had very little income as I'm getting a free graduate degree to boost future income and open up additional opportunities.
How are you able to spend less than 6k a year?
One wonders how you can save up $279k by 25 years old? Of course you're not even the most ambitious of those on this thread, but I'm assuming in many of these cases there has been major family assistance. Not that people need to be apologizing for that, but I do think it'd be helpful and less discouraging to others to provide some context in these extreme cases. Most 25 year olds haven't made more than $150k or so in their lifetime, let alone $300k, and you're saying you SAVED that amount. Pretty mind-blowing. It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
Unless you have some fabulous tips that are not even being shared on MMM, I think it's fair to note that these results are not replicable without extreme external events.
To share with the thread, I'm 28 and have $185k in investments, $5k in 0% debt. I graduated at 23 so got a bit of a late start there, but lived rent-free for 2 years with my dad and then kept expenses low (see my journal in sig for details). During my 4 years of work experience I made between $50-80k, and for the last two years spent $15-16k annually. For the last 9 months I've had very little income as I'm getting a free graduate degree to boost future income and open up additional opportunities.
I'm 26, single, and just passed $700K net worth. I hope to reach $1MM at 28. I graduated from college at 21 with a high paying job. This would put me in your second category.
The only help from my family that I got was that my dad paid for my degree--at a completely unremarkable public university. Before college, I went to one of the worst public school systems in my state. Until I got my current job, I spent my entire life living in a lower-class Rust Belt neighborhood, i.e. "the hood." My parents never encouraged me to perform well academically or set career goals for myself. They pretty much took a hands-off approach to parenting and let me choose my own path in life.
So unless you count paying for my undergrad, I did not receive "major family assistance." I just happen to be intelligent and self-motivated, plus I chose a good career path. I also choose to spend less than $6K / year. Most people could have ended up in my situation if they were smart enough and made the same choices as me. Just choose to study one of the college majors with the highest starting salary and make sure you dedicate yourself to learning the skills you need to get hired by a top company upon graduation. Success isn't completely up to chance, it can be engineered.
Awesome. That sounds like a tremendous success story, and congratulations!! I ccertainly agree that success is not completely up to chance, though I do think circumstances dictate many of our choices. I definitely consider a paid for undergrad degree to be a huge leg up (we're usually talking in excess of $40k if not more that many kids don't receive at all), but of course that alone would not get you near $700k at 26. I am going to comment on your journal so I can follow along.
It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
Or 4. Started a business.
I didn't get into business until age 26, but a couple of my friends started at 19 right out of high school, and at age 22, and 23, are both running businesses doing a few mil in sales a year.
Customers don't know or care how old you are. They just want a good product or service that satisfies their wants/needs.
A successful business with huge sales and growth can be started at any age.
It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
Or 4. Started a business.
I didn't get into business until age 26, but a couple of my friends started at 19 right out of high school, and at age 22, and 23, are both running businesses doing a few mil in sales a year.
Customers don't know or care how old you are. They just want a good product or service that satisfies their wants/needs.
A successful business with huge sales and growth can be started at any age.
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?
Age 28 - Australian
Superannuation - $87000 (this is an Aussie retirement account cant access until i am 60)
Outside of super
Shares - $22000
Cash - $10000
Mortgages
Property 1 - $252000
Property 2 - $415000
Value of houses
Property 1 -$320000
Property 2 - $470000
No other debt.
Just got a job as a math teacher!
Age:24
Here are my stats so far:
Roth IRA: 16,400
457b: 500
403b: 3200
Taxable Brokerage: 5100
Savings Account: 2000
Gold: 3 oz (around 4000)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Net Worth: 24.200
Deducting 18k year in 403, 5500 in 457 and 8k in pension. If I have money left will move to Roth. Still figuring out my livable wage. Gross 48K.
Advice?
I'm 24 and married (DH is 26). We are both engineers.
Checking + Online Savings: $70K
Retirement Accounts: $90K (tIRA-him=$31,400, rIRA-her=$6,700, 401K-her=48,800 HSA-her=2,300)
Taxable Accounts: $0
Debts: $0
NW: 160K
*Note: Our NW is about to plummet to about -$80K as we are buying a house with all of our cash from our online savings.
Just got a job as a math teacher!
Age:24
Here are my stats so far:
Roth IRA: 16,400
457b: 500
403b: 3200
Taxable Brokerage: 5100
Savings Account: 2000
Gold: 3 oz (around 4000)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Net Worth: 24.200
Deducting 18k year in 403, 5500 in 457 and 8k in pension. If I have money left will move to Roth. Still figuring out my livable wage. Gross 48K.
Advice?
Update:
Age:25
Roth IRA: 22,240
Traditional IRA: 400
457b: 13,400
403b: 10,800
Taxable Brokerage: 5,500
Savings/checking account: 54,000 (inheritance, about to redistribute, just cleared)
Gold: 1 oz (around 1,200)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Credit Cards: 200
Net Worth: 100,400
Deducting 18k year in 403, 18,000 in 457 and 8k(automatic) in pension.Also, $5,500 year to Roth.
Gross income 49K. Expenses ~ 500 month besides automatic deductions for health, taxes, etc.
Going to live off of inheritance for a few years while I max out my retirement vehicles.
Advice?
I'll be 29 in less than 3 weeks. I'm married, no children. I'm a nurse and live in a LCOL area in the South.
Assets:
Checking: 4k
401k #1: 11k
401k #2: 300
IRA: 2.5k
House value: 71.5k
Debt:
House: 47k
Car: 9k
Total NW: $33,300
This thread has taken an interesting turn as far as asexuality is concerned. I don't think I should comment on it since I am not asexual, but I've enjoyed reading other people's thoughts about it. As far as NW is concerned, I'm pleasantly pleased with mine. I found MMM a little over a year ago and I've been working diligently to get the car paid off. Thankfully, I don't have any student loan or credit card debt and I plan on keeping it that way.
I'll be 29 in less than 3 weeks. I'm married, no children. I'm a nurse and live in a LCOL area in the South.
Assets:
Checking: 4k
401k #1: 11k
401k #2: 300
IRA: 2.5k
House value: 71.5k
Debt:
House: 47k
Car: 9k
Total NW: $33,300
This thread has taken an interesting turn as far as asexuality is concerned. I don't think I should comment on it since I am not asexual, but I've enjoyed reading other people's thoughts about it. As far as NW is concerned, I'm pleasantly pleased with mine. I found MMM a little over a year ago and I've been working diligently to get the car paid off. Thankfully, I don't have any student loan or credit card debt and I plan on keeping it that way.
Almost exactly one year later and here are my stats:
Assets:
Checking: 5K
Savings: 1K
401K #1:17.2K
401K #2: 900
IRA: 2.7K
House Value: 71 K
Debt:
House: 44.3K
Total NW: $53,500
Not nearly as high as some people here, but I'm pleased with myself since I have a lower salary than most people posting here.
Gross income 49K. Expenses ~ 500 month besides automatic deductions for health, taxes, etc.
Going to live off of inheritance for a few years while I max out my retirement vehicles.
Advice?
First post!
Age 28, 29 in less than a month
Single
Assets
Condo $340k
Car ~$4k
Investments ~ $80k
Retirement Funds ~ $60k
Cash ~15k
No debt/mortgage
Pretty much at the $500k NW mark. Lived at home through school (undergrad +grad) and saved scholarship and internship money during school. Started full time job in 2012 (~$100k/year + bonus - pre tax). Lived mostly a MMM lifestyle prior to finding MMM. Currently at about 70% post tax save rate, expecting FI in 5-8 years depending on market/FI definition, but maybe sooner if I can find a MrsMM.
Cash: $48,000
Student Loans: $44K
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.
Nice! You got the car paid off. About 20K in a year is a good chunk if your salary is low. As a nurse, it can't be too low, though, right? Good job, and keep it up!
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!
25, HCOL, renter (3 years into working - tech related field)
401k: $61k
IRAs: $21k
HSA: $2k
Taxable: $50k
Cash: $7k
Debt: $0
Net worth: $141k
I found MMM/the concept of FI two years ago, and was already relatively frugal before that and came out of college without any student loans. I'm hoping to hit $500k by the time I age out of this post, but it'll be a bit of a stretch.
28, single, HCOL, renter
Started working ~25, started saving ~26/27
Starting salary: 40k, currently: ~55k
Cash: 13.5k
Taxable: 7.3k
Retirement: 24.5k
SL: (8.9k)
NW: 36.4k
Coming up on 25. Single no kids.One wonders how you can save up $279k by 25 years old? Of course you're not even the most ambitious of those on this thread, but I'm assuming in many of these cases there has been major family assistance. Not that people need to be apologizing for that, but I do think it'd be helpful and less discouraging to others to provide some context in these extreme cases. Most 25 year olds haven't made more than $150k or so in their lifetime, let alone $300k, and you're saying you SAVED that amount. Pretty mind-blowing. It means you either 1. had family help, 2. Finished school at a young age AND got an incredible job paying $120k+ immediately, or 3. got lucky (or perhaps found something undervalued?) with a property value increase, stock IPO, or other investment that exploded in value.
Current Status
401k: 36k
Roth IRA: 13.5k
Taxable accounts: 43k
Cash: 44k (Way too much... currently investment house hunting)
HSA: 2.3k
Debt: 0
Currently own my condo and co-own an investment home outright. Both are cash positive.
Also own a small fleet of cars and motorcycles outright.
Room for improvement:
Frills spending; everything from trips abroad to packing lunch
Lifestyle creep ~20k/year - I would like to fully rent out my condo and try living in a van to re-baseline
Vehicles are all non-mustachian and typically depreciating money pits however they're one of my few passions
Summary:
NW excluding vehicles: 279k
FIRE target is 2028 / 35 years old
Unless you have some fabulous tips that are not even being shared on MMM, I think it's fair to note that these results are not replicable without extreme external events.
To share with the thread, I'm 28 and have $185k in investments, $5k in 0% debt. I graduated at 23 so got a bit of a late start there, but lived rent-free for 2 years with my dad and then kept expenses low (see my journal in sig for details). During my 4 years of work experience I made between $50-80k, and for the last two years spent $15-16k annually. For the last 9 months I've had very little income as I'm getting a free graduate degree to boost future income and open up additional opportunities.
My fiancé and I are just starting our journey to FIRE, and I love the idea of posting here as a baseline and then checking back in occasionally.
Me: 27, fiancé, 29. Live in HCOL area and both currently have low incomes. We don't have much saved at the moment, but we're working on making changes!
Savings account: 5k
IRA #1: 3.3k
IRA #2: 8.8k
401k: 0.5k (fiancé only recently started it)
Index fund: 11k (set up by my fiancé's father when he was sub-18 y/o)
Debt: 0, other than cc balances that we pay off in full every month
NW: 28.6k
We are working on getting a consistent savings rate and trying to get it as high as possible for our lower incomes. We're aiming for 25% but not sure if that's consistently possible right now. I recently changed my direct deposit to allocate 10% automatically to the savings account. I know it's not much but it's something - I also work at the company that provides this paycheck on a freelance basis so I never make the same amount, and am not comfortable with automatically contributing more at this point.
We are working on getting our savings account up to 7.5k, and then we will start actively contributing to our IRAs (we don't currently - this is old money rolled over from previous 401ks). I'm working on changing careers into a higher paying field so hopefully within a year I can start making significantly more money, and then we can begin savings a lot more every month.
I've enjoyed skimming through everyone else's posts. I love seeing where everyone is. I'm looking forward to catching up!
Sadly, I did not - I made it ˜$10,000 more by the end of the year. I didn't earn enough to make it possible; I made $24,700 last year (just did my taxes yesterday), and most of that was used on living expenses so it didn't increase my net worth much. But I'm hoping this year, my first year of my 30's, will be more profitable, as it's my 2nd year in business and things are starting to get rolling.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?
Happy belated birthday! It's 7/9. Did you do it?!
Sadly, I did not - I made it ˜$10,000 more by the end of the year. I didn't earn enough to make it possible; I made $24,700 last year (just did my taxes yesterday), and most of that was used on living expenses so it didn't increase my net worth much. But I'm hoping this year, my first year of my 30's, will be more profitable, as it's my 2nd year in business and things are starting to get rolling.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?
Happy belated birthday! It's 7/9. Did you do it?!
Net worth is currently about $30,000 and I'm 30.6 years old.
I'm 26, single, and just passed $700K net worth. I hope to reach $1MM at 28.
1-year (ish) update.
Cash/savings: 20k
Taxable Investment: 35K
Retirement + IRA: 70K
HSA: 1K
Home Equity: 132K (Massive jump due to appreciation)
---
Net worth including house: +/- 258K. (140% increase over June 2016)
Net worth without house: +/- 126K. (58% increase over June 2016)
Completed 2016 goal: Successfully got out of PMI via a refi to take advantage of home appreciation. (Went from 92% LTV to 62% LTV on paper overnight). When paired with the lower interest rate (3.75 vs 4.25) the payback period for the upfront costs was <6 months.
Long term goal: Still looking at a worst-case scenario of FIRE at 40, but more realistically it's going to be 36ish at the current rate. A job change would likely shorten the time frame drastically because of the low pay of my current position (Relative to other similar jobs in the area) but I've got some serious Stockholm syndrome going on with my employer. We'll see what the next year brings though.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.
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
Real estate: $100k
Net worth: ~$510k
Excited that I hit the 500k milestone last month! Just gotta keep going... we can do it :)
Age: 26Just got a job as a math teacher!
Age:24
Here are my stats so far:
Roth IRA: 16,400
457b: 500
403b: 3200
Taxable Brokerage: 5100
Savings Account: 2000
Gold: 3 oz (around 4000)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Net Worth: 24.200
Deducting 18k year in 403, 5500 in 457 and 8k in pension. If I have money left will move to Roth. Still figuring out my livable wage. Gross 48K.
Advice?
Update:
Age:25
Roth IRA: 22,240
Traditional IRA: 400
457b: 13,400
403b: 10,800
Taxable Brokerage: 5,500
Savings/checking account: 54,000 (inheritance, about to redistribute, just cleared)
Gold: 1 oz (around 1,200)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Credit Cards: 200
Net Worth: 100,400
Deducting 18k year in 403, 18,000 in 457 and 8k(automatic) in pension.Also, $5,500 year to Roth.
Gross income 49K. Expenses ~ 500 month besides automatic deductions for health, taxes, etc.
Going to live off of inheritance for a few years while I max out my retirement vehicles.
Advice?
Age: 26Just got a job as a math teacher!
Age:24
Here are my stats so far:
Roth IRA: 16,400
457b: 500
403b: 3200
Taxable Brokerage: 5100
Savings Account: 2000
Gold: 3 oz (around 4000)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Net Worth: 24.200
Deducting 18k year in 403, 5500 in 457 and 8k in pension. If I have money left will move to Roth. Still figuring out my livable wage. Gross 48K.
Advice?
Update:
Age:25
Roth IRA: 22,240
Traditional IRA: 400
457b: 13,400
403b: 10,800
Taxable Brokerage: 5,500
Savings/checking account: 54,000 (inheritance, about to redistribute, just cleared)
Gold: 1 oz (around 1,200)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Credit Cards: 200
Net Worth: 100,400
Deducting 18k year in 403, 18,000 in 457 and 8k(automatic) in pension.Also, $5,500 year to Roth.
Gross income 49K. Expenses ~ 500 month besides automatic deductions for health, taxes, etc.
Going to live off of inheritance for a few years while I max out my retirement vehicles.
Advice?
Roth IRA: 35,200
Traditional IRA: 470
457b: 135,700
403b: 32,200
Taxable Brokerage: 66,800
Savings/checking account: 2,275
Gold: 0 oz sold all
Debt: -2500 (student loans that will be forgiven by teaching 5 yrs)
Credit Cards: -800
Net worth: 176,000
Increased contributions to 18,500 for both 403 and 457b.
Got Master's degree (pay bump). Working an extra period (1.2 salary)
Gross (approximate total): 71,000
Another year, another update.I'm 24 and married (DH is 26). We are both engineers.
Checking + Online Savings: $70K
Retirement Accounts: $90K (tIRA-him=$31,400, rIRA-her=$6,700, 401K-her=48,800 HSA-her=2,300)
Taxable Accounts: $0
Debts: $0
NW: 160K
*Note: Our NW is about to plummet to about -$80K as we are buying a house with all of our cash from our online savings.
Everyone has been posting updates so since its been about a year since I posted in this thread, I figured I would too!
Me-25, Hubs-27
Checking + Savings: $10K
Retirement Accounts: $175K
Taxable Accounts: $17K
Home Value: 332K
Mortgage: $265K
NW: 270K, Stash: 192K
Good catch! It should be 35,700 not 135,700. Fixed in postAge: 26Just got a job as a math teacher!
Age:24
Here are my stats so far:
Roth IRA: 16,400
457b: 500
403b: 3200
Taxable Brokerage: 5100
Savings Account: 2000
Gold: 3 oz (around 4000)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Net Worth: 24.200
Deducting 18k year in 403, 5500 in 457 and 8k in pension. If I have money left will move to Roth. Still figuring out my livable wage. Gross 48K.
Advice?
Update:
Age:25
Roth IRA: 22,240
Traditional IRA: 400
457b: 13,400
403b: 10,800
Taxable Brokerage: 5,500
Savings/checking account: 54,000 (inheritance, about to redistribute, just cleared)
Gold: 1 oz (around 1,200)
Debt: -6500 (student loans that will be forgiven by teaching 5 yrs)
Credit Cards: 200
Net Worth: 100,400
Deducting 18k year in 403, 18,000 in 457 and 8k(automatic) in pension.Also, $5,500 year to Roth.
Gross income 49K. Expenses ~ 500 month besides automatic deductions for health, taxes, etc.
Going to live off of inheritance for a few years while I max out my retirement vehicles.
Advice?
Roth IRA: 35,200
Traditional IRA: 470
457b: 35,700
403b: 32,200
Taxable Brokerage: 66,800
Savings/checking account: 2,275
Gold: 0 oz sold all
Debt: -2500 (student loans that will be forgiven by teaching 5 yrs)
Credit Cards: -800
Net worth: 176,000
Increased contributions to 18,500 for both 403 and 457b.
Got Master's degree (pay bump). Working an extra period (1.2 salary)
Gross (approximate total): 71,000
How did you go from 13k to 130k in your 457 in a year?
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
26 y/o.
IRA - 20K
Cash - 25K
Robinhood (stocks)- 15K
Old 401k - 7K
Current 401k - 12K
ESPP - 9K
NW - 88K
Hoping to reach $200K by 30!
Another year has come and gone. I am 27 now
IRA - 34K
Cash - 18K
Robinhood (stocks)- 19K
Old 401k - 8K
Current 401k - 41K
ESPP - 25K
NW - 145K
Another strong year powered by phenomenal market returns
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
25, HCOL, renter (3 years into working - tech related field)
401k: $61k
IRAs: $21k
HSA: $2k
Taxable: $50k
Cash: $7k
Debt: $0
Net worth: $141k
I found MMM/the concept of FI two years ago, and was already relatively frugal before that and came out of college without any student loans. I'm hoping to hit $500k by the time I age out of this post, but it'll be a bit of a stretch.
Almost 1.5 years later... still in the same job in the tech-related field, but now making about $10k higher salary.
26, HCOL, renter (4.5 years into working - tech related field)
401k: $105k
IRAs: $30k
HSA: $7k
Taxable: $120k
Cash: $7k
Debt: $0
Net worth: $269k
I'm about half way to my bare-bones FI number and am definitely feeling the power of having FU money. I'm more picky with work assignments, have better work/life boundaries, and take as much time off as I can.
Age- 24 single
Income- about 76k base (guesstimated around 80k after differentials included)
Experience- about a year as a RN
Financials-
42k in investments,
About 2500 out to friends for loans (will avoid this in the future)
No debt of any kind (other then CC debt that gets paid off monthly)
I just paid 3500$ this month for tuition , I expect to pay around 4500$ more to complete my bachelors.
My girlfriends age- 24
Her financials-
Income-38k base+commissions (sales) 3 months experience
around 1k in savings
6k car loan
18k student loans
We are working on it ;)
No one around us knows the specifics of our FIRE plans, so I guess I'll come here to share my joy for the day.
Cracked $300,000 net with my paycheck deposit today!
Cash/savings/misc: 25k
Taxable Investment: 39K
Retirement + IRA: 100K
HSA: 1.5K
Home Equity: 135K (Probably closer to 190K based on today's prices)
---
Net worth including house: +/- 300K. (16% increase over July 2017)
Net worth without house: +/- 165K. (31% increase over June 2016)
Not as good as the year before, because I'm being conservative on the home value. Otherwise it would look like this:
Net worth including house: +/- 355K. (38% increase over July 2017)
Short term goals: Find a way to lower costs. We lost a long term room mate about a year back and haven't filled back in behind him because we don't know anyone else well enough to want to live with them. That's $8,400 of income we passed up for privacy. It's nice to be able to have the option, but that money would also be very nice to still have.....
Long term goals are kinda Meh. Reevaluating what I'm doing with my life right now, so hard to figure out what direction is worth going in the long run. Very glad that I've got the stache to have lots of options though.1-year (ish) update.
Cash/savings: 20k
Taxable Investment: 35K
Retirement + IRA: 70K
HSA: 1K
Home Equity: 132K (Massive jump due to appreciation)
---
Net worth including house: +/- 258K. (140% increase over June 2016)
Net worth without house: +/- 126K. (58% increase over June 2016)
Completed 2016 goal: Successfully got out of PMI via a refi to take advantage of home appreciation. (Went from 92% LTV to 62% LTV on paper overnight). When paired with the lower interest rate (3.75 vs 4.25) the payback period for the upfront costs was <6 months.
Long term goal: Still looking at a worst-case scenario of FIRE at 40, but more realistically it's going to be 36ish at the current rate. A job change would likely shorten the time frame drastically because of the low pay of my current position (Relative to other similar jobs in the area) but I've got some serious Stockholm syndrome going on with my employer. We'll see what the next year brings though.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.
Another year, another update.I'm 24 and married (DH is 26). We are both engineers.
Checking + Online Savings: $70K
Retirement Accounts: $90K (tIRA-him=$31,400, rIRA-her=$6,700, 401K-her=48,800 HSA-her=2,300)
Taxable Accounts: $0
Debts: $0
NW: 160K
*Note: Our NW is about to plummet to about -$80K as we are buying a house with all of our cash from our online savings.
Everyone has been posting updates so since its been about a year since I posted in this thread, I figured I would too!
Me-25, Hubs-27
Checking + Savings: $10K
Retirement Accounts: $175K
Taxable Accounts: $17K
Home Value: 332K
Mortgage: $265K
NW: 270K, Stash: 192K
Me-26, Hubs-28
Checking + Savings: $10K
Retirement Accounts: $309K
Taxable Accounts: $33K
Home Value: 265K
Mortgage: $259K
NW: 360K, Stash: 339K
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!
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
Been awhile since I updated. In my final year of our 20's now, we paid off my student loans last Friday.
Cash savings - $5,770
Investments - $330k
Home value - $180k
Debt - $99k
Net Worth - $417k
Moving along nicely. I'll try and update a bit before our 30th.
26 y/o.
IRA - 20K
Cash - 25K
Robinhood (stocks)- 15K
Old 401k - 7K
Current 401k - 12K
ESPP - 9K
NW - 88K
Hoping to reach $200K by 30!
Another year has come and gone. I am 27 now
IRA - 34K
Cash - 18K
Robinhood (stocks)- 19K
Old 401k - 8K
Current 401k - 41K
ESPP - 25K
NW - 145K
Another strong year powered by phenomenal market returns
I am 28 now
IRA - 42K
Cash - 19K
Robinhood (stocks) - 29K
Old 401k - 9K
Current 401k - 63K
ESPP - 45K
NW - 207K
S&P500 has been pretty flat all year
25, HCOL, renter (3 years into working - tech related field)
401k: $61k
IRAs: $21k
HSA: $2k
Taxable: $50k
Cash: $7k
Debt: $0
Net worth: $141k
I found MMM/the concept of FI two years ago, and was already relatively frugal before that and came out of college without any student loans. I'm hoping to hit $500k by the time I age out of this post, but it'll be a bit of a stretch.
Almost 1.5 years later... still in the same job in the tech-related field, but now making about $10k higher salary.
26, HCOL, renter (4.5 years into working - tech related field)
401k: $105k
IRAs: $30k
HSA: $7k
Taxable: $120k
Cash: $7k
Debt: $0
Net worth: $269k
I'm about half way to my bare-bones FI number and am definitely feeling the power of having FU money. I'm more picky with work assignments, have better work/life boundaries, and take as much time off as I can.
Almost a year later... new job (to quote a thread title: "pay cut, lifestyle dividend"), new city, same old me
27, M/HCOL, renter (5.5 years into working - tech related field)
401k: $127k
IRAs: $41k
HSA: $10k
Taxable: $143k
Cash: $8k
Debt: $0
Net worth: $329k
I took a pay cut to move to a new job and lower (but not low) cost of living city. It's been a great move - my work/life balance is excellent and I'm learning a ton of new skills and with great coworkers. With 2.5 years to go until 30, $500k is still looking plausible, but it will definitely depend on what the market does between now and then.
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
Real estate: $100k
Net worth: ~$510k
Excited that I hit the 500k milestone last month! Just gotta keep going... we can do it :)
Update a year later: hit $750k! Also projecting double comma club by the end of next year (!)
Love seeing everyone else's progress :) keep it up y'all!!
Update a year later (#s as of July 2019, 29.8yo so my last update):
Cash: $50k
Brokerage: $314k
401k: $339k
IRAs: $34k
HSA: $28k
House: $255k
-- Net Worth: >$1M !! :) (includes real estate)
Pretty proud of myself to have reached double comma club before 30! My saving rate is has been 75%-86% the whole time. Big salary jumps the past 3 years have helped a lot too. I will be pretty close to hitting my fire # in the next few years but need to figure out family situation first because that might double the #.
But alas, I have now aged out of this thread. Good luck to the 20-somethings!! Start early & keep on keepin' on! Ride those bicycles, cook your own food, live with roommates, and work smarter not harder :)
13 months and other people are bumping the thread, so I guess it's time for another update.
Cash/savings/misc: 12k (-13K from last update)
Taxable Investment: 49K (+11K from last update)
Retirement + IRA: 127K (+27K from last update)
HSA: 5K (+3.5K from last update).
Home Equity: 185K
---
Net worth including house: +/- 378K (+78K since lastupdate)
Net worth without house: +/- 193K (+ 28K since last update)
We're on a good path, but TBH it's gotten pretty boring. It's a good problem to have, it's just hard to be excited when the stache is all set up to be automatic. Direct deposits, automated investment purchases, etc. It just all kinda ticks away in the background.
One unexpected side effect of the stache is that money has lost all excitement. A 2% performance bonus at work used to be an exciting thing. Now it's just kinda a "Thanks, I'll throw it on the pile" experience. No excitement, and since it's it's not even half of one percent of net it's just a rounding error that is invisible by the end of the month.
When paired up with my partner's staching, if we continue at our current $ rate per month we'll hit a million by 2030ish. Realistically that number will increase over time though, since our spending doesn't increase much and we're already living on significantly less than we earn even without the investment returns. So the horizon may be much closer than it looks.
Our FIRE number is about 775K based on our current expenses, with a "Tat FIRE" number around a million, which would basically fund near-constant "western world standards" adventures all over the world until we decided to settle down again.No one around us knows the specifics of our FIRE plans, so I guess I'll come here to share my joy for the day.
Cracked $300,000 net with my paycheck deposit today!
Cash/savings/misc: 25k
Taxable Investment: 39K
Retirement + IRA: 100K
HSA: 1.5K
Home Equity: 135K (Probably closer to 190K based on today's prices)
---
Net worth including house: +/- 300K. (16% increase over July 2017)
Net worth without house: +/- 165K. (31% increase over June 2016)
Not as good as the year before, because I'm being conservative on the home value. Otherwise it would look like this:
Net worth including house: +/- 355K. (38% increase over July 2017)
Short term goals: Find a way to lower costs. We lost a long term room mate about a year back and haven't filled back in behind him because we don't know anyone else well enough to want to live with them. That's $8,400 of income we passed up for privacy. It's nice to be able to have the option, but that money would also be very nice to still have.....
Long term goals are kinda Meh. Reevaluating what I'm doing with my life right now, so hard to figure out what direction is worth going in the long run. Very glad that I've got the stache to have lots of options though.1-year (ish) update.
Cash/savings: 20k
Taxable Investment: 35K
Retirement + IRA: 70K
HSA: 1K
Home Equity: 132K (Massive jump due to appreciation)
---
Net worth including house: +/- 258K. (140% increase over June 2016)
Net worth without house: +/- 126K. (58% increase over June 2016)
Completed 2016 goal: Successfully got out of PMI via a refi to take advantage of home appreciation. (Went from 92% LTV to 62% LTV on paper overnight). When paired with the lower interest rate (3.75 vs 4.25) the payback period for the upfront costs was <6 months.
Long term goal: Still looking at a worst-case scenario of FIRE at 40, but more realistically it's going to be 36ish at the current rate. A job change would likely shorten the time frame drastically because of the low pay of my current position (Relative to other similar jobs in the area) but I've got some serious Stockholm syndrome going on with my employer. We'll see what the next year brings though.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.
Stumbled across this page today, excited to join others my age!
25 y.o., M, single
Current Net Worth: $287 (Reached a positive net worth this month, began the year at -35K)
Current salary: ~80K per year (will increase 10K this coming spring)
I will update this with more detailed numbers at a later time but I am planning to buy a house this spring/summer. I have a current savings rate of ~65% of my income (most of which is going towards student loan debt).
First post!
Age 28, 29 in less than a month
Single
Assets
Condo $340k
Car ~$4k
Investments ~ $80k
Retirement Funds ~ $60k
Cash ~15k
No debt/mortgage
Pretty much at the $500k NW mark. Lived at home through school (undergrad +grad) and saved scholarship and internship money during school. Started full time job in 2012 (~$100k/year + bonus - pre tax). Lived mostly a MMM lifestyle prior to finding MMM. Currently at about 70% post tax save rate, expecting FI in 5-8 years depending on market/FI definition, but maybe sooner if I can find a MrsMM.
Since updates are flying, here's mine.
Age 29, 30 in less than a month, and won't be part of this thread anymore.
Less single and dropping hints about MMM.
Assets
Condo $340k (HCOL)
Car ~$3.5k (2005)
Taxable Investments ~ $245k
Retirement Funds ~ $99k (work match/personal)
Cash ~176k (DCA into index funds)
No debt/mortgage
Total NW ~$855k ... The large NW increase is due to inheritance ~250k and continued aggressive savings rate around 78%, another raise, plus market returns. It would seem FI is much closer now (likely within a year or two depending on the market and various calculations). RE is on my mind most days at work but I don't know if I'll do it ASAP or wait OMY.
Another year, another update.I'm 24 and married (DH is 26). We are both engineers.
Checking + Online Savings: $70K
Retirement Accounts: $90K (tIRA-him=$31,400, rIRA-her=$6,700, 401K-her=48,800 HSA-her=2,300)
Taxable Accounts: $0
Debts: $0
NW: 160K
*Note: Our NW is about to plummet to about -$80K as we are buying a house with all of our cash from our online savings.
Everyone has been posting updates so since its been about a year since I posted in this thread, I figured I would too!
Me-25, Hubs-27
Checking + Savings: $10K
Retirement Accounts: $175K
Taxable Accounts: $17K
Home Value: 332K
Mortgage: $265K
NW: 270K, Stash: 192K
Me-26, Hubs-28
Checking + Savings: $10K
Retirement Accounts: $309K
Taxable Accounts: $33K
Home Value: 265K
Mortgage: $259K
NW: 360K, Stash: 339K
Another year, another update. This is Hubby's last year in his 20s.
27/29
Checking + Savings: $10K
Retirement Accounts (401Ks, IRAs, HSAs, Pension Immediate Lump Sum): $440K
Taxable Brokerage: $40K
Home Value: $265K
Debts (Mortgage): $254K
NW: $500K, Stash: $460K
I turn 30 in a few months, so this story is almost over. It's been a wild ride!
Age: 22
11/23/2012: $45,000.00
08/03/2013: $100,000.00
Age: 25
01/01/2016: $408,896.04
Age: 26
01/01/2017: $617,283.09
06/06/2017: $758,104.40
Age: 27
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
Age: 28
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50
07/07/2019: $1,519,162.03
Age: 29
12/14/2019: $1,628,320.78
01/01/2020: $1,705,284.27
02/02/2020: $1,838,397.87
02/13/2020: $1,961,653.87
02/19/2020: $2,000,505.43
04/14/2020: $2,002,087.12
05/09/2020: $2,148,999.11
06/20/2020: $2,471,306.02
11 months or so. Time to necro this thread for a COVID markets update.
Cash/savings/misc: 12K (no real change from last update)
Taxable Investment: 55K (+6K from last update, was much higher, but then COVID hit the markets.)
Retirement + IRA: 152K (+25K from last update, was much higher, but then COVID hit the markets.)
HSA: 5.5K (+0.5K from last update).
Home Equity: 296K (+111K, but that's mostly from the market still rising rapidly).
---
Net worth including house: +/- 517K (+139K since last update)
Net worth without house: +/- 222K (+ 29K since last update)
Kinda just keepin' on. a 30K increase is pretty disappointing to see, but I think it would have been more like 100K pre-covid. It will all come back over time, just kinda a pain in the ass to see in the short term.13 months and other people are bumping the thread, so I guess it's time for another update.
Cash/savings/misc: 12k (-13K from last update)
Taxable Investment: 49K (+11K from last update)
Retirement + IRA: 127K (+27K from last update)
HSA: 5K (+3.5K from last update).
Home Equity: 185K
---
Net worth including house: +/- 378K (+78K since lastupdate)
Net worth without house: +/- 193K (+ 28K since last update)
We're on a good path, but TBH it's gotten pretty boring. It's a good problem to have, it's just hard to be excited when the stache is all set up to be automatic. Direct deposits, automated investment purchases, etc. It just all kinda ticks away in the background.
One unexpected side effect of the stache is that money has lost all excitement. A 2% performance bonus at work used to be an exciting thing. Now it's just kinda a "Thanks, I'll throw it on the pile" experience. No excitement, and since it's it's not even half of one percent of net it's just a rounding error that is invisible by the end of the month.
When paired up with my partner's staching, if we continue at our current $ rate per month we'll hit a million by 2030ish. Realistically that number will increase over time though, since our spending doesn't increase much and we're already living on significantly less than we earn even without the investment returns. So the horizon may be much closer than it looks.
Our FIRE number is about 775K based on our current expenses, with a "Tat FIRE" number around a million, which would basically fund near-constant "western world standards" adventures all over the world until we decided to settle down again.No one around us knows the specifics of our FIRE plans, so I guess I'll come here to share my joy for the day.
Cracked $300,000 net with my paycheck deposit today!
Cash/savings/misc: 25k
Taxable Investment: 39K
Retirement + IRA: 100K
HSA: 1.5K
Home Equity: 135K (Probably closer to 190K based on today's prices)
---
Net worth including house: +/- 300K. (16% increase over July 2017)
Net worth without house: +/- 165K. (31% increase over June 2016)
Not as good as the year before, because I'm being conservative on the home value. Otherwise it would look like this:
Net worth including house: +/- 355K. (38% increase over July 2017)
Short term goals: Find a way to lower costs. We lost a long term room mate about a year back and haven't filled back in behind him because we don't know anyone else well enough to want to live with them. That's $8,400 of income we passed up for privacy. It's nice to be able to have the option, but that money would also be very nice to still have.....
Long term goals are kinda Meh. Reevaluating what I'm doing with my life right now, so hard to figure out what direction is worth going in the long run. Very glad that I've got the stache to have lots of options though.1-year (ish) update.
Cash/savings: 20k
Taxable Investment: 35K
Retirement + IRA: 70K
HSA: 1K
Home Equity: 132K (Massive jump due to appreciation)
---
Net worth including house: +/- 258K. (140% increase over June 2016)
Net worth without house: +/- 126K. (58% increase over June 2016)
Completed 2016 goal: Successfully got out of PMI via a refi to take advantage of home appreciation. (Went from 92% LTV to 62% LTV on paper overnight). When paired with the lower interest rate (3.75 vs 4.25) the payback period for the upfront costs was <6 months.
Long term goal: Still looking at a worst-case scenario of FIRE at 40, but more realistically it's going to be 36ish at the current rate. A job change would likely shorten the time frame drastically because of the low pay of my current position (Relative to other similar jobs in the area) but I've got some serious Stockholm syndrome going on with my employer. We'll see what the next year brings though.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.
My 20s are essentially over. This is it for me! Somehow, I ended up with way more money than I thought I would going in to all of this.
Age: 22
11/23/2012: $45,000.00
08/03/2013: $100,000.00
Age: 25
01/01/2016: $408,896.04
Age: 26
01/01/2017: $617,283.09
06/06/2017: $758,104.40
Age: 27
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
Age: 28
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50
07/07/2019: $1,519,162.03
Age: 29
12/14/2019: $1,628,320.78
01/01/2020: $1,705,284.27
02/02/2020: $1,838,397.87
02/13/2020: $1,961,653.87
02/19/2020: $2,000,505.43
04/14/2020: $2,002,087.12
05/09/2020: $2,148,999.11
06/20/2020: $2,471,306.02
07/01/2020: $2,632,979.23
07/02/2020: $2,721,395.70
07/10/2020: $3,098,138.96
08/14/2020: $3,243,042.90
08/31/2020: $4,134,844.24
Glad I found this place!! Hello, fellow youngins! (Admittedly, I felt a bit decrepit this year as I turned a quarter of a century, but I think some of that had to do with being stuck in a neverending quarantine with lots of post-pandemic goals swimming in my head.)
25 year old here with a lovely 28 year old husband.
Cash: ~12,000
Investments: 48,000
401k: ehh, somewhere from 10-20k between the two of us
Home Value: 220,000 value-183,000 left=37,000 if we're going by the current Zestimate. Which can be notoriously inaccurate.
I make 40k/year and DH makes 48k. It's getting hard to lower our expenses much more, so my big FIRE goal right now is to look at ways to increase my salary. DH is a happily starving artist, but I never wanted to be in the field I'm in, so there's no reason for me stay in it at this pay rate. Fingers crossed for a good break somewhere!
26 y/o.
IRA - 20K
Cash - 25K
Robinhood (stocks)- 15K
Old 401k - 7K
Current 401k - 12K
ESPP - 9K
NW - 88K
Hoping to reach $200K by 30!
Another year has come and gone. I am 27 now
IRA - 34K
Cash - 18K
Robinhood (stocks)- 19K
Old 401k - 8K
Current 401k - 41K
ESPP - 25K
NW - 145K
Another strong year powered by phenomenal market returns
I am 28 now
IRA - 42K
Cash - 19K
Robinhood (stocks) - 29K
Old 401k - 9K
Current 401k - 63K
ESPP - 45K
NW - 207K
S&P500 has been pretty flat all year
29 and just blew a huge wad of cash earlier this year on an engagement ring and a wedding soiree.
Currently stock piling cash for a home purchase
IRA - 53K
Cash - 36K
Robinhood (stocks) - 35K
Old 401k - 10K
Current 401k - 95K
ESPP - 51K
NW - 280K
I turned 27 this past July. My salary is $80k (+bonus and profit sharing). Here are my current numbers:
Cash: $4,431.05
Taxable Investments: $35,313.69
Roth IRA: $18,584.59
Roth 401k: $19,449.80
Total Debt: $281.29
Net Worth: $77,497.84
My goal is to break $100k salary by 30 and be financially independent (not yet retired) by 32.
Yea I would expect you guys to be making a lot more living in Atlanta.
Welcome to the forum!
Stumbled across this page today, excited to join others my age!
25 y.o., M, single
Current Net Worth: $287 (Reached a positive net worth this month, began the year at -35K)
Current salary: ~80K per year (will increase 10K this coming spring)
I will update this with more detailed numbers at a later time but I am planning to buy a house this spring/summer. I have a current savings rate of ~65% of my income (most of which is going towards student loan debt).
Another year, another update.I'm 24 and married (DH is 26). We are both engineers.
Checking + Online Savings: $70K
Retirement Accounts: $90K (tIRA-him=$31,400, rIRA-her=$6,700, 401K-her=48,800 HSA-her=2,300)
Taxable Accounts: $0
Debts: $0
NW: 160K
*Note: Our NW is about to plummet to about -$80K as we are buying a house with all of our cash from our online savings.
Everyone has been posting updates so since its been about a year since I posted in this thread, I figured I would too!
Me-25, Hubs-27
Checking + Savings: $10K
Retirement Accounts: $175K
Taxable Accounts: $17K
Home Value: 332K
Mortgage: $265K
NW: 270K, Stash: 192K
Me-26, Hubs-28
Checking + Savings: $10K
Retirement Accounts: $309K
Taxable Accounts: $33K
Home Value: 265K
Mortgage: $259K
NW: 360K, Stash: 339K
Another year, another update. This is Hubby's last year in his 20s.
27/29
Checking + Savings: $10K
Retirement Accounts (401Ks, IRAs, HSAs, Pension Immediate Lump Sum): $440K
Taxable Brokerage: $40K
Home Value: $265K
Debts (Mortgage): $254K
NW: $500K, Stash: $460K
4 years of progress is pretty crazy to see. I turn 29 in a couple months. Our progress will start to slow since we are expecting our first baby in 2021 and my husband will quit work forever to be a SAHP. He wouldn't be able to do it if we didn't start saving/investing in 2016!
28/30
Checking + Savings: $10K
Retirement Accounts (401Ks, IRAs, HSAs, Pension Immediate Lump Sum): $617K
Taxable Brokerage: $40K
Home Value: $265K
Debts (Mortgage): $247K
NW: $683K, Stash: $636K
Another year, another update.I'm 24 and married (DH is 26). We are both engineers.
Checking + Online Savings: $70K
Retirement Accounts: $90K (tIRA-him=$31,400, rIRA-her=$6,700, 401K-her=48,800 HSA-her=2,300)
Taxable Accounts: $0
Debts: $0
NW: 160K
*Note: Our NW is about to plummet to about -$80K as we are buying a house with all of our cash from our online savings.
Everyone has been posting updates so since its been about a year since I posted in this thread, I figured I would too!
Me-25, Hubs-27
Checking + Savings: $10K
Retirement Accounts: $175K
Taxable Accounts: $17K
Home Value: 332K
Mortgage: $265K
NW: 270K, Stash: 192K
Me-26, Hubs-28
Checking + Savings: $10K
Retirement Accounts: $309K
Taxable Accounts: $33K
Home Value: 265K
Mortgage: $259K
NW: 360K, Stash: 339K
Another year, another update. This is Hubby's last year in his 20s.
27/29
Checking + Savings: $10K
Retirement Accounts (401Ks, IRAs, HSAs, Pension Immediate Lump Sum): $440K
Taxable Brokerage: $40K
Home Value: $265K
Debts (Mortgage): $254K
NW: $500K, Stash: $460K
4 years of progress is pretty crazy to see. I turn 29 in a couple months. Our progress will start to slow since we are expecting our first baby in 2021 and my husband will quit work forever to be a SAHP. He wouldn't be able to do it if we didn't start saving/investing in 2016!
28/30
Checking + Savings: $10K
Retirement Accounts (401Ks, IRAs, HSAs, Pension Immediate Lump Sum): $617K
Taxable Brokerage: $40K
Home Value: $265K
Debts (Mortgage): $247K
NW: $683K, Stash: $636K
My last post in this thread since I turn 30 in less than 2 months!
29/31
Checking + Savings: $15K
Retirement Accounts (401Ks, IRAs, HSAs, Pension Immediate Lump Sum): $950K
Taxable Brokerage: $57K
Home Value: $265K
Debts (Mortgage): $241K
NW: $1.04M, Stash: $963K
We reached $1M in networth! We are sort of just coasting for now, saving less since my husband FIRE'ed to stay home with our daughter.
FIRE goal is still 2025 so we will keep chugging along till then. Good luck to all you other 20 somethings!
25, HCOL, renter (3 years into working - tech related field)
401k: $61k
IRAs: $21k
HSA: $2k
Taxable: $50k
Cash: $7k
Debt: $0
Net worth: $141k
I found MMM/the concept of FI two years ago, and was already relatively frugal before that and came out of college without any student loans. I'm hoping to hit $500k by the time I age out of this post, but it'll be a bit of a stretch.
Almost 1.5 years later... still in the same job in the tech-related field, but now making about $10k higher salary.
26, HCOL, renter (4.5 years into working - tech related field)
401k: $105k
IRAs: $30k
HSA: $7k
Taxable: $120k
Cash: $7k
Debt: $0
Net worth: $269k
I'm about half way to my bare-bones FI number and am definitely feeling the power of having FU money. I'm more picky with work assignments, have better work/life boundaries, and take as much time off as I can.
Almost a year later... new job (to quote a thread title: "pay cut, lifestyle dividend"), new city, same old me
27, M/HCOL, renter (5.5 years into working - tech related field)
401k: $127k
IRAs: $41k
HSA: $10k
Taxable: $143k
Cash: $8k
Debt: $0
Net worth: $329k
I took a pay cut to move to a new job and lower (but not low) cost of living city. It's been a great move - my work/life balance is excellent and I'm learning a ton of new skills and with great coworkers. With 2.5 years to go until 30, $500k is still looking plausible, but it will definitely depend on what the market does between now and then.
I guess it's time for another update!
28, M/HCOL, renter (6.5 years into working, tech related field)
401k: $162k
IRAs: $55k
HSA: $15k
Taxable: $171k
Cash: $9k
Debt: $0
Net worth: $412k
I'm still really enjoying my not-so-new job. The pay cut was absolutely worth it. Work pays for me to take classes, so I'm also now enrolled in a masters program, so that keeps life quite busy. I do occasionally get the itch to take really large chunks of time off to go adventure, but I think I'll delay that for another couple years until I'm done with grad school.
Sometimes I ponder buying a home/condo, and it's definitely plausible that I take the plunge sometime in the next year. The area I live in is not far from family, so odds are high I'll have roots here for a long time. On the other hand, I can't confidently say that I'll be living here in 3 years or that I have any idea what I'll be doing in 3 years. Those two thoughts compete quite a bit. If the right place comes along, I may jump on the home-owner train, but if not, I'll keep enjoying my apartment life.
Looking back at a year of net worth growth is crazy! It's gone up about as much as my gross salary. Compounding is definitely magic. It looks like 500K by 30 is still achievable. If markets hold, I should hit that around this time next year, but that's a big if.
Stumbled across this page today, excited to join others my age!
25 y.o., M, single
Current Net Worth: $287 (Reached a positive net worth this month, began the year at -35K)
Current salary: ~80K per year (will increase 10K this coming spring)
I will update this with more detailed numbers at a later time but I am planning to buy a house this spring/summer. I have a current savings rate of ~65% of my income (most of which is going towards student loan debt).
I've forgotten about this thread but I am excited to post my progress. Additionally, I am purchasing my first home this month and my net worth will temporarily decrease due to using fund towards a down payment. This money will not be lost as it will become home equity, but I will not be tracking it in my net worth. Additionally, my salary is now around 90k a year, but my savings rate will likely stay the same this year as I plan to make a few improvements to the house, furthering my equity.
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: $237 ($1,910) (First day of having a positive net worth)
01/03/20: $1,447 ($1,210)
02/02/20: $5,209 ($3,762)
03/03/20: $5,821 ($612)
04/03/20: $5,001 (-$820)
05/04/20: $10,739 ($5,738)
06/05/20: $18,006 ($7,267)
I hope to maintain constant posting to this thread in the coming months, and I look forward to hearing about your progress.
28,
salary is 122k (just got a 30k (wtf) raise).
Married
Networth is currently around 260k. We are just hitting our stride, clearing out some old debts, slamming paychecks into investments.
The goal is 500k by 31 and 1 mil by 38, retiring at 42ish with 1.5 mil in assets. Optimistic, but even if we are off by a couple years, that works out for me! :)
First post!
Age 28, 29 in less than a month
Single
Assets
Condo $340k
Car ~$4k
Investments ~ $80k
Retirement Funds ~ $60k
Cash ~15k
No debt/mortgage
Pretty much at the $500k NW mark. Lived at home through school (undergrad +grad) and saved scholarship and internship money during school. Started full time job in 2012 (~$100k/year + bonus - pre tax). Lived mostly a MMM lifestyle prior to finding MMM. Currently at about 70% post tax save rate, expecting FI in 5-8 years depending on market/FI definition, but maybe sooner if I can find a MrsMM.
Since updates are flying, here's mine.
Age 29, 30 in less than a month, and won't be part of this thread anymore.
Less single and dropping hints about MMM.
Assets
Condo $340k (HCOL)
Car ~$3.5k (2005)
Taxable Investments ~ $245k
Retirement Funds ~ $99k (work match/personal)
Cash ~176k (DCA into index funds)
No debt/mortgage
Total NW ~$855k ... The large NW increase is due to inheritance ~250k and continued aggressive savings rate around 78%, another raise, plus market returns. It would seem FI is much closer now (likely within a year or two depending on the market and various calculations). RE is on my mind most days at work but I don't know if I'll do it ASAP or wait OMY.
Definitely not a 20 something, but I thought I'd update anyways for fun/progress.
33 in a month.
Assets
Condo 280K - Property has lost value over time thanks to a local market crash.
Car 2.5K (same 2005!)
Taxable investments $747k
Retirement funds $212k
Local business $30k - Invested as a minority partner in a local business.
Cash $150k - Was higher, but bought heavily into the COVID crash.
Total NW ~$1.4M Canadian. Appears I'm FI as the 4% rule on my investments = ~44k/year, and my yearly expenses have stayed at 24K/year for the past few years. Still working as the SO would like a bit more cash on hand for if/when a little one arrives and yearly expenses increase. In my line of work layoffs are common and there are no other jobs to turn to once you're laid off, so holding on for as long as possible but looking forward to FIRE and/or working for the little business I have invested in. Thankful I've saved and I'm prepared for FIRE.