Author Topic: Race from 10 to 100k!!  (Read 219739 times)

tyler1215

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Re: Race from 10 too 100k!!
« Reply #100 on: August 05, 2014, 05:22:47 PM »
Just found out that my wife has $10k in some sort of investment in her home country which yields about 5% a year, this is going to boost my number up for next month.

Saw My NW drop off about $500, but I finally paid off the last credit card.  I'm now debt free and can only go up.  Feels weird :/

I'm curious as to why your net worth would drop by paying off a credit card?  Credit cards are liabilities that should already be calculated into your net worth.  Paying off the credit card would just be a transfer of assets and wouldn't affect your net worth.  I generally run between $500-$2,000 on my credit cards through a month and those are all factored into my net worth, this way I'm not robbing Peter to pay Paul.

You are right.  It baffled me at first.  I did see my investments decide to take a nose-dive at the end of the month.  That seems like it always happens LOL

MoneyRx

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Re: Race from 10 too 100k!!
« Reply #101 on: August 07, 2014, 09:32:55 AM »
Is it too late to join in?

It looks like anyone with a mortgage is including the value of their home in the networth calculation? I don't typically do that (because the big negative numbers motivate me more), but for purposes of comparison I'll do that here with my numbers.

Also, it's my numbers joint with my husband because it's just easier to track for us.

Liabilities:
(Mortgage, remaining car loan): $215,289.72

Assets:
(Home value (estimated at about 20k less than what Zillow lists), IRAs, 401Ks, Index Funds, bank accounts): $264,334.2

Net Worth: $49,044.48

This doesn't feel like an accurate number to me, because I owe so much on my house still and I can't use retirement accounts to pay the mortgage payments. Does it throw off your numbers if i use my networth without including my home value? It seems more realistic to me.
(It would also make me last, with -150,000~)

Since the document is tracking net worth, you would add in your home value and be at 49k, not -150k. You owe on your house, but if you had to, you could sell the house and erase the debt.

NBBay7

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Re: Race from 10 too 100k!!
« Reply #102 on: August 07, 2014, 10:31:28 AM »
I'm in :O  Must kill student loans!!!

NW at beginning of 2014: -8,000
NW end of June: about 3000
NW now: about 5000

I discovered MMM in June and haven't looked back!

Thank you for spearheading this challenge, let's keep it going!!

SpareChange

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Re: Race from 10 too 100k!!
« Reply #103 on: August 07, 2014, 12:32:46 PM »
I'm in :O  Must kill student loans!!!

NW at beginning of 2014: -8,000
NW end of June: about 3000
NW now: about 5000

I discovered MMM in June and haven't looked back!

Thank you for spearheading this challenge, let's keep it going!!

Yes. Student loans must die! And, welcome! 

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #104 on: August 07, 2014, 01:36:40 PM »
Is it too late to join in?

It looks like anyone with a mortgage is including the value of their home in the networth calculation? I don't typically do that (because the big negative numbers motivate me more), but for purposes of comparison I'll do that here with my numbers.

Also, it's my numbers joint with my husband because it's just easier to track for us.

Liabilities:
(Mortgage, remaining car loan): $215,289.72

Assets:
(Home value (estimated at about 20k less than what Zillow lists), IRAs, 401Ks, Index Funds, bank accounts): $264,334.2

Net Worth: $49,044.48

This doesn't feel like an accurate number to me, because I owe so much on my house still and I can't use retirement accounts to pay the mortgage payments. Does it throw off your numbers if i use my networth without including my home value? It seems more realistic to me.
(It would also make me last, with -150,000~)

Since the document is tracking net worth, you would add in your home value and be at 49k, not -150k. You owe on your house, but if you had to, you could sell the house and erase the debt.

I agree with MoneyRx on this, you should include the house.  If you wanted to not include the house then you shouldn't include the debt from it either, it doesn't make sense to only include the debt and not the asset (except in the case of cars because they depreciate too fast and you are basically underwater with them very soon after driving off the lot).

apfroggy0408

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Re: Race from 10 too 100k!!
« Reply #105 on: August 09, 2014, 10:01:53 AM »
just added myself to sheet, been going down in NW since mint didn't track my student loan, but those are gone and so should start going up.

SpareChange

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Re: Race from 10 too 100k!!
« Reply #106 on: August 09, 2014, 03:16:20 PM »
just added myself to sheet, been going down in NW since mint didn't track my student loan, but those are gone and so should start going up.

Welcome to the "Sheet"!! Ironically, I was reading your journal when you posted. Good for you on the student loans...I hope to be there in another year or so too.

Tieke

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Re: Race from 10 too 100k!!
« Reply #107 on: August 09, 2014, 04:12:16 PM »
Just hit my first 10K this week - SUPER excited!  Since I'm 39, it's kind of terrible that this is the highest net worth I've ever had, but at least progress is all going in the right direction now.

SpareChange

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Re: Race from 10 too 100k!!
« Reply #108 on: August 09, 2014, 11:34:53 PM »
Just hit my first 10K this week - SUPER excited!  Since I'm 39, it's kind of terrible that this is the highest net worth I've ever had, but at least progress is all going in the right direction now.

Congrats! And don't feel too bad...I'm also 39, and my net worth is also at it's highest (~15k). :)

Tieke

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Re: Race from 10 too 100k!!
« Reply #109 on: August 11, 2014, 03:43:35 AM »
Just hit my first 10K this week - SUPER excited!  Since I'm 39, it's kind of terrible that this is the highest net worth I've ever had, but at least progress is all going in the right direction now.

Congrats! And don't feel too bad...I'm also 39, and my net worth is also at it's highest (~15k). :)

Thanks for the moral support!  Now for the next 10K, and a good bit faster this time... :)

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #110 on: August 11, 2014, 10:40:40 AM »
Just hit my first 10K this week - SUPER excited!  Since I'm 39, it's kind of terrible that this is the highest net worth I've ever had, but at least progress is all going in the right direction now.

Congrats! And don't feel too bad...I'm also 39, and my net worth is also at it's highest (~15k). :)

Thanks for the moral support!  Now for the next 10K, and a good bit faster this time... :)

What's great about a positive net worth is that your dollars start to work for you and you Snowball.  That 10k you have this year might make 700-1200 next year on top of what you put in then.  Keep it up!

Tieke

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Re: Race from 10 too 100k!!
« Reply #111 on: August 13, 2014, 03:37:35 AM »

What's great about a positive net worth is that your dollars start to work for you and you Snowball.  That 10k you have this year might make 700-1200 next year on top of what you put in then.  Keep it up!

Good point!  I've actually got about 16K (the 10K net worth is because I have to subtract a debt) in a fund that's consistently earning around 12% interest so that'll help a good bit with the snowball effect.  Hopefully the fund won't start tanking too severely anytime soon because I could use the extra boost.

MoneyRx

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Re: Race from 10 too 100k!!
« Reply #112 on: August 13, 2014, 07:59:00 AM »
Should we add age to the spreadsheet? Not that this is a competition between anyone but myself, but I think it would be beneficial for me to see where people are in their lives.

Wiggle

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Re: Race from 10 too 100k!!
« Reply #113 on: August 13, 2014, 09:12:49 AM »
I'd love to hop in on this.  I'm starting above 10k but 100k is a good medium term goal for me.

Snap Shot at end of July:

Debts: $0
Savings: $7,250
Retirement Accts: $29, 876

NW:  $37, 126

Fonzico

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Re: Race from 10 too 100k!!
« Reply #114 on: August 13, 2014, 09:45:19 AM »
Now that I'm officially out of the Negatives, I'm excited to join! My networth is paltry, but at least it's going in the right direction! $100,000 is still very far away, so my intermediate goal is the $30,000 we need to buy a house, but it will be fun to be in on a long-term tracking race :)

Liabilities: Zero
Assets: TFSA @ 1.3% $2,111.94
             TFSA index funds: $1,293.20
             
Net Worth: $3,405.14 Whoohoo! Rolling in it, amiright!?

On average, adding about $1,500/mo to this. But trying to get our side gig to be more profitable (running a sign/decal/t-shirt business out of our basement). It's in the black, at least, and hopefully we'll be able to start pulling some actual income from it soon.
We should most definitely be able to reach our house downpayment goal by May 2016. Maybe this competition will help us reach it sooner :)

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #115 on: August 13, 2014, 02:42:15 PM »
I'd love to hop in on this.  I'm starting above 10k but 100k is a good medium term goal for me.

Snap Shot at end of July:

Debts: $0
Savings: $7,250
Retirement Accts: $29, 876

NW:  $37, 126

As long as you are below $100k no problem being added here.  The goal here is to eventually graduate to the $1million NW thread, although some of us may not need $1million to retire.

Now that I'm officially out of the Negatives, I'm excited to join! My networth is paltry, but at least it's going in the right direction! $100,000 is still very far away, so my intermediate goal is the $30,000 we need to buy a house, but it will be fun to be in on a long-term tracking race :)

Liabilities: Zero
Assets: TFSA @ 1.3% $2,111.94
             TFSA index funds: $1,293.20
             
Net Worth: $3,405.14 Whoohoo! Rolling in it, amiright!?

On average, adding about $1,500/mo to this. But trying to get our side gig to be more profitable (running a sign/decal/t-shirt business out of our basement). It's in the black, at least, and hopefully we'll be able to start pulling some actual income from it soon.
We should most definitely be able to reach our house downpayment goal by May 2016. Maybe this competition will help us reach it sooner :)

Just as with Wiggle as long as you are below $100k NW we're glad to have you here.  Some here are still bleeding.  A house is a great first goal, the purchase may have you take a hit to your NW but that's just the cost of doing business, it'll rebound in no time as you continue to save.  Good luck on the side business, they can be fun.

Another thread to checkout is the Long Term NW Goal thread started by one of our awesome moderators.  It's fun to work out your numbers and see what you think you can achieve in the long term and push yourself to make it happen.  Not as much activity there as most update annually or semi-annually and participate in the other shorter term threads.

tyler1215

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Re: Race from 10 too 100k!!
« Reply #116 on: August 13, 2014, 06:24:00 PM »
Should we add age to the spreadsheet? Not that this is a competition between anyone but myself, but I think it would be beneficial for me to see where people are in their lives.

I wouldn't mind if we were all more transparent with each other.  Knowing something like age, occupations, salaries, savings rate (we will need a uniform formula that everyone uses).  That would give us all some comparisons perhaps something to look forward to if one of us is making six-figures and saving 80%.  Plus we could come up with a possible handicap to make the race fair, but I'm one for taking every advantage I can get.

We will get to know each other pretty well over the next couple of years.

hoodedfalcon

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Re: Race from 10 too 100k!!
« Reply #117 on: August 13, 2014, 08:45:11 PM »
Should we add age to the spreadsheet? Not that this is a competition between anyone but myself, but I think it would be beneficial for me to see where people are in their lives.

I wouldn't mind if we were all more transparent with each other.  Knowing something like age, occupations, salaries, savings rate (we will need a uniform formula that everyone uses).  That would give us all some comparisons perhaps something to look forward to if one of us is making six-figures and saving 80%.  Plus we could come up with a possible handicap to make the race fair, but I'm one for taking every advantage I can get.

We will get to know each other pretty well over the next couple of years.

I like this idea. I don't know what is meant by handicap though...I think that is a golf term?

lpep

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Re: Race from 10 too 100k!!
« Reply #118 on: August 14, 2014, 07:37:26 AM »
I think this part of the thread is perfect for a little "bio" of everyone, if they want to do it. The spreadsheet should be impersonal, I think - let the numbers speak for themselves. (That is why I put in the ranking system, though - competition can be useful!)

Plus, the spreadsheet took all the numbers out of the linear posts, so this CAN be more of a conversationy area.

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #119 on: August 14, 2014, 12:52:56 PM »
Yeah, other than the ranking on the sheet I don't see the need to add lots of personal information to it.  Sure as a person who loves numbers it would be interesting and add in hours of running numbers and such which is fun, but you can look it up on my profile too.

I'm a software engineer, 30 years old, married, and a single income family.  I make roughly $90k a year, which has increased so far every year for the past 3 or 4 years.  After taxes and healthcare deductions our take home is $4600 a month + 4 5th week paychecks.  General savings is $1100 into IRA's (will be $916 next year, but due to the move we started late), and an extra $250 towards principle on the mortgage.  Including principle on the mortgage, and evenly distributing extra savings from the 5th pay check, total savings each month is roughly $2000.  We expect to get a good tax return due to the IRA cotributions, which spread out over 12 months would increase our monthly savings to $2500.  This is all without counting increased stock values or dividend income.  We are roughly at a 50% savings rate.

Our first milestone after $100k is $300k.  At $300k we have the option to move back to Taiwan and retire due to the ridiculously low cost of living.  At that point I would say that we have enough fuck you money.  Extended goals would be to add more buffer into that number, and continue working as long as it is fun and to ease into retirement possibly by going less full time.  If we can save up to $500k, or $600k that would be ideal, we could then choose living in the States or back in Taiwan.  With some smart planning I can continue to make money working some part time gigs teaching English in Taiwan to pay for some luxuries.

I am interested in trying to lower our cost of living here.  We are living pretty well, but the largest expense is still the car.  Thinking of switching to something more fuel efficient and cheaper to insure than our BMW (2002, 130k miles bought 2 years ago for $8k, no with 163k miles and worth $4k(not included in NW) and have only added about 2500 miles this year since moving close to work).

tyler1215

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Re: Race from 10 too 100k!!
« Reply #120 on: August 14, 2014, 04:18:19 PM »

I am interested in trying to lower our cost of living here.  We are living pretty well, but the largest expense is still the car.  Thinking of switching to something more fuel efficient and cheaper to insure than our BMW (2002, 130k miles bought 2 years ago for $8k, no with 163k miles and worth $4k(not included in NW) and have only added about 2500 miles this year since moving close to work).

I may want to help you out with that BMW.  What model is it?

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #121 on: August 14, 2014, 04:57:01 PM »

I am interested in trying to lower our cost of living here.  We are living pretty well, but the largest expense is still the car.  Thinking of switching to something more fuel efficient and cheaper to insure than our BMW (2002, 130k miles bought 2 years ago for $8k, no with 163k miles and worth $4k(not included in NW) and have only added about 2500 miles this year since moving close to work).

I may want to help you out with that BMW.  What model is it?

It's a 525i with winter and maybe Sports package (has the M/// on the steering wheel).  Interior is immaculate, I don't believe in storing things in the car and from my road trip hippy days I was used to keeping a garbage bag around the stick and throwing it out every chance I got.

brisbella

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Re: Race from 10 too 100k!!
« Reply #122 on: August 17, 2014, 11:29:38 PM »
I am 23, female from Brisbane Australia. I'm currently studying full time at uni for a bachelor of business management and a bachelor of science dual degree. Still need to swap into the science degree after I get my chemistry and maths B. I've been at uni since start of 2013 but also did a preparation course back in 2012 for 8 months so I could get into uni. So I've been studying for about 2.5 years. 

I also work around 25hrs a week as a paralegal.
I earn approximately $35,000 - $40,000 per year before taxes.
In my earlier years I dropped out of high school and worked full time in hospitality and promo work.

All of my peers have graduated uni and are working their career-jobs now, so I do feel like I'm behind sometimes.

I live with my partner of 4.5years in a house owned by him and his brother. I pay for all of our food and he pays his mortgage. I've gotten pretty good at keeping our food bill under $100 a week.

My net worth as at 31 July 2014 is comprised of:

Shares: $9938.88
Cash: $6242.96
Superannuation: $5101.52
Vanguard Index Fund: $15603.27
and my car: $5000.00 which I didn't include in the spreadsheet.

I've always been good at savings and have learnt a lot from my parents, both of whom have RE. 

My current goal is to save $300 a week, which is hard as my take-home during school term is about $550.00/week. Been going pretty well with it though.

Don't have a retirement age or goal picked out yet, but I know I will need at least a million. I also have a personal goal which is to own a block of apartments / townhouses.  Right now my savings are going to my bank account which is earning 3.8%, my index fund, and i'm also trying to get together a deposit so I can buy a cab licence.

Look forward to reading other people bios :)

Apples

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Re: Race from 10 too 100k!!
« Reply #123 on: August 19, 2014, 01:18:38 PM »
Hi, I'd love to join.  "My" net worth is actually "our" net worth as I got married a few months ago (woo!).  I just entered rough numbers on the spreadsheet (I assume beginning net worth is from Dec 13 so it's what we started this year with?  I plan to update with exact numbers for the last two months when I get home tonight.  I think my/our net worth is a bit high for this thread (actually, I think it's the highest on the spreadsheet...), but we're only halfway there!  Assuming the market doesn't crash anytime soon, we expect our NW to increase by about $1,000/month on average at the moment, though that may change to a lower number in a few months.  Working on those darn student loans.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #124 on: August 19, 2014, 01:52:57 PM »
Welcome,  Apples, and best wishes!

Is it Dec 31for the start y'all? I assumed it was May 30

hoodedfalcon

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Re: Race from 10 too 100k!!
« Reply #125 on: August 19, 2014, 02:10:49 PM »
Welcome,  Apples, and best wishes!

Is it Dec 31for the start y'all? I assumed it was May 30

According to the spreadsheet, it looks like start date is June 1? I went and changed mine accordingly.

Apples

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Re: Race from 10 too 100k!!
« Reply #126 on: August 19, 2014, 02:24:56 PM »
Ahhh, I just clicked around a bit on the spreadsheet and after reading your post I agree, it's probably June 1, or May 31.  Thank you, I'll go change my input!

lpep

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Re: Race from 10 too 100k!!
« Reply #127 on: August 20, 2014, 04:46:51 AM »
Welcome,  Apples, and best wishes!

Is it Dec 31for the start y'all? I assumed it was May 30

Fellow Tar Heel here :) Hark the sound!

Wiggle

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Re: Race from 10 too 100k!!
« Reply #128 on: August 22, 2014, 01:13:30 PM »
I'd love to hop in on this.  I'm starting above 10k but 100k is a good medium term goal for me.

Snap Shot at end of July:

Debts: $0
Savings: $7,250
Retirement Accts: $29, 876

NW:  $37, 126

No more contributions for rest of month so here is my end of August update:


Debts: $0
Savings: $7,250
Retirement Accts: $31, 248

NW:  $38, 498 (increase of $1,372).
« Last Edit: August 22, 2014, 01:24:50 PM by Wiggle »

Apostrophe

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Re: Race from 10 too 100k!!
« Reply #129 on: August 25, 2014, 07:56:12 PM »
I'm in for this.

$50,646 as of 8/1/14.

Just found this site recently, and have really enjoyed many of the ideas. Reducing consumption and increasing happiness go hand in hand... who knew?!

Christopher


LearningFromMistakes

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Re: Race from 10 too 100k!!
« Reply #130 on: August 25, 2014, 09:45:58 PM »
New here, but interested in playing along. I find tracking helps a lot.

While I have only been reading MMM for a few weeks, I have had Mint for years document all of the mistakes :-)

Since thread start:
June 9th 2014: (-$34,619)
July 1st 2014: (-$35,437)
August 1st 2014: (-$24,516)
Today (August 25th 2014): $7,548
« Last Edit: August 25, 2014, 09:47:41 PM by LearningFromMistakes »

SpareChange

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Re: Race from 10 too 100k!!
« Reply #131 on: August 26, 2014, 09:29:04 AM »
I'm in for this.

$50,646 as of 8/1/14.

Just found this site recently, and have really enjoyed many of the ideas. Reducing consumption and increasing happiness go hand in hand... who knew?!

Christopher

Welcome to our humble thread!

SpareChange

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Re: Race from 10 too 100k!!
« Reply #132 on: August 26, 2014, 09:31:06 AM »
New here, but interested in playing along. I find tracking helps a lot.

While I have only been reading MMM for a few weeks, I have had Mint for years document all of the mistakes :-)

Since thread start:
June 9th 2014: (-$34,619)
July 1st 2014: (-$35,437)
August 1st 2014: (-$24,516)
Today (August 25th 2014): $7,548

Doesn't look like you've made any mistakes in Aug so far :). Welcome!

Imustacheyouaquestion

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Re: Race from 10 too 100k!!
« Reply #133 on: August 29, 2014, 06:40:39 AM »
3-paycheck month and a nice uptick in the stock markets towards the end of the month pushed me over $31,000.

I had about $500 of medical expenses last month, paid out of my emergency fund. It will take about 6 months until my HSA has enough contributions to pay back the EF.

seanc0x0

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Re: Race from 10 too 100k!!
« Reply #134 on: August 29, 2014, 02:31:52 PM »
Now that markets are closed for the month, I can update for August. Not as good a month, ended up losing a bit in the market. Still 19% up month-over-month, closing at $6066.70.

Hopefully September will be more fruitful, as I am planning to sell some unused radio equipment and plow that money into the investments.

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #135 on: August 29, 2014, 04:15:54 PM »
Now that stocks have closed in the US too, I've updated my accounts.

Plus I've added my Wife's secret fund: ~$10,000, it's in her native country currency, some sort of annuity, or something of their local equivalent.  This sort of artificially boosts our NW number for this month, not every month are we going to increase by finding $10k+, oh and a 5th paycheck too.

July: $48,615.09
August: $63,372.03
« Last Edit: August 29, 2014, 04:25:46 PM by ohyonghao »

frogger

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Re: Race from 10 too 100k!!
« Reply #136 on: August 29, 2014, 05:49:11 PM »
With stocks closed and my income and outgo all reconciled, I'll update as well:

Liabilities reduced by $650
Assets reduced by $1750

NW for the end of August: -$9700

Bummer, but this is my last month of going backward. The new school year started this week which means I'll get paid again and be making progress from here on!

tyler1215

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Re: Race from 10 too 100k!!
« Reply #137 on: August 30, 2014, 03:17:04 PM »
Updated for August.

Added in my HSA account.  Will be seeing my saving slow down with school starting up, but I view that as the ultimate investment with a guaranteed rate of return on a better life.

Waiting on some work reimbursement for travelling in August and more planned travel later this year.  Spent the last two weeks fighting with an "Administrative Assistant" because I booked my own travel and used my card to pay for everything instead of going through her.  Now she's dragging her feet on processing my expense reports.  Just another reason why I want to retire early and be done with BS like this...or get promoted to manager and replace her with someone that can actually do the job correctly.  Not a good end of the month for me.

hoodedfalcon

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Re: Race from 10 too 100k!!
« Reply #138 on: August 31, 2014, 08:08:01 AM »
UPDATE! Arbitrary personal financial goal met!

I started reading MMM last spring, and by the end of the year was able to increase my net worth by 30K, from -$97K to -$67K. So, at the beginning of the year I set the goal of increasing my net worth by another 30K (to a net worth of -$37K) in 2014. My stretch goal was to make it to a net worth of -$30K in 2014.

As of August 31 2014, my base goal for 2014 has been met!!!! As you can see on the spreadsheet, I am at -$36,964.00! I know that could change at the whim of the markets, but I am stoked. I have no doubt I will meet my stretch goal, which means a net worth of zero in 2015 is totally possible! That also means that my net worth has increased 60K in the last 18 months thanks to MMM! I should send them some cookies.

carozy

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Re: Race from 10 too 100k!!
« Reply #139 on: August 31, 2014, 09:20:38 AM »
My networth went up a bit since I had an extra surprise check this month from overpaying for braces a couple of years back, plus the three paycheck month.  However, my net worth will be going down soon because I'm going to pay for the Macbook Air I bought with my Discover card.  Hopefully my checks for September will even things out.  I have some other expenses coming soon also, but I'll try to keep spending to a minimum.  I'm glad we are tracking things here as it gives me something to aim for each month.

SpareChange

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Re: Race from 10 too 100k!!
« Reply #140 on: August 31, 2014, 10:55:04 AM »
UPDATE! Arbitrary personal financial goal met!

I started reading MMM last spring, and by the end of the year was able to increase my net worth by 30K, from -$97K to -$67K. So, at the beginning of the year I set the goal of increasing my net worth by another 30K (to a net worth of -$37K) in 2014. My stretch goal was to make it to a net worth of -$30K in 2014.

As of August 31 2014, my base goal for 2014 has been met!!!! As you can see on the spreadsheet, I am at -$36,964.00! I know that could change at the whim of the markets, but I am stoked. I have no doubt I will meet my stretch goal, which means a net worth of zero in 2015 is totally possible! That also means that my net worth has increased 60K in the last 18 months thanks to MMM! I should send them some cookies.

Congrats! That's really very impressive, HF.

Runge

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Re: Race from 10 too 100k!!
« Reply #141 on: August 31, 2014, 01:56:03 PM »
Updated mine.

Got a bigger than normal boost this month because my IRA contributions were delayed a month due to a brokerage change, so this time I got last month's contribution plus this month's. I also increased my IRA (Simple) personal contribution from 171/mo to 500/mo, that will definitely help move things along. The markets doing well naturally always helps too.

$14,695.15 for August, up $2,515.53 from last month. Woot!

Apples

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Re: Race from 10 too 100k!!
« Reply #142 on: August 31, 2014, 07:12:07 PM »
I enjoy tracking our net worth here-it gives me some accountability (and sometimes a place to cheer) from month to month.  Because my husband just doesn't share the joy of looking at numbers change on spreadsheets for some reason. :p

Anyway: 7/31 $51,177.95
              8/31  $55,797.75

Woohoo!  The markets were certainly a help in making that large leap.  This is both the greatest % change and absolute $ change of any two months this year!  And that's all the longer that I've been tracking our NW, so that's all the data I have.  We use August's pay in September, so we will see the benefit of the 5 paycheck month next month, so I'm expecting another good leap then!  Assuming, of course, that no emergencies hit.  After that everything will calm down again.

brisbella

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Re: Race from 10 too 100k!!
« Reply #143 on: August 31, 2014, 08:40:38 PM »
Not such a good month. Had to pay $1000 for health insurance which I owed someone from long ago. Small losses in share price.  Very pleased with index fund performance though.

Overall not as nice as last month's tax windfall. Would like to see next month's balance increasing by at least $1200 instead of just $700ish.

Looks like almost everyone is doing well this month :)

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #144 on: August 31, 2014, 11:32:29 PM »
My networth went up a bit since I had an extra surprise check this month from overpaying for braces a couple of years back, plus the three paycheck month.  However, my net worth will be going down soon because I'm going to pay for the Macbook Air I bought with my Discover card.  Hopefully my checks for September will even things out.  I have some other expenses coming soon also, but I'll try to keep spending to a minimum.  I'm glad we are tracking things here as it gives me something to aim for each month.

You're net worth doesn't change when you pay off a credit card because net worth is asset - liability, and your credit card is a liability. Whenever my friend talks about just putting stuff on the card I want to give him a MMM face punch.

carozy

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Re: Race from 10 too 100k!!
« Reply #145 on: September 01, 2014, 04:42:53 AM »
My networth went up a bit since I had an extra surprise check this month from overpaying for braces a couple of years back, plus the three paycheck month.  However, my net worth will be going down soon because I'm going to pay for the Macbook Air I bought with my Discover card.  Hopefully my checks for September will even things out.  I have some other expenses coming soon also, but I'll try to keep spending to a minimum.  I'm glad we are tracking things here as it gives me something to aim for each month.

You're net worth doesn't change when you pay off a credit card because net worth is asset - liability, and your credit card is a liability. Whenever my friend talks about just putting stuff on the card I want to give him a MMM face punch.

You're right.  I didn't realize Personal Capital deducts the credit card from the cash/retirement (assets) for me.  But now it makes sense, networth = assets - liabilities.

I bumped my cash back up over $20 with that laptop purchase, so now I can get my cash back rewards out!  :)  I think I'll just apply it to the balance though.

Paulie

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Re: Race from 10 too 100k!!
« Reply #146 on: September 01, 2014, 08:11:23 AM »
Not much changed. NW went down a bit, but that's mostly because the dollar went up and I convert it. I only include the money in my investmentaccuount here, in which I put money every month. In August however, nothing was deposited, but in September money will be deposited twice. So I expect a nice increase next month!

SpareChange

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Re: Race from 10 too 100k!!
« Reply #147 on: September 01, 2014, 01:49:15 PM »
Nothing too exciting about August...just steady as she goes. I'm glad so many are seeing real progress being made in such a short time!

Look forward to reading other people bios :)

I've worked as a radiographer in a hospital in Fort Worth for just over 2 years, FT for about 6 months now. I enjoy my career and job for the most part, although doing it FT can be exhausting at times. Also have a BA in Econ.

I rent a small apt, and only include financial items in my NW (not that anything else I own would budge the number much :)). I have one student loan left, which is the only debt I have. I refinanced it a few months ago at a lower, albeit variable, rate. I have a 401k and an IRA. My investment mix is 60/40 stocks/bonds, and 60/40 domestic/international stocks. Leaning towards just paying off the loan as fast as I can even though it's at a low IR. Haven't decided whether to add an HSA or Roth to the mix.

Runge

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Re: Race from 10 to 100k!!
« Reply #148 on: September 01, 2014, 08:57:27 PM »
OK here's my 6/30 and 7/31 net worth including retirement accounts but excluding the (theoretical) value of my home.

6/30/2014: -$6922
7/31/2014: $2291 (yay positive! - downgraded car, don't expect $9k every month!)

8/31/2014: $5896

Added a line for my entry to the spreadsheet, but not quite sure how you're doing all the determinations of rank, etc so there are a few columns in my row that I did not touch.

No worries. I got ya set up. Glad to have you join!

Suit

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Re: Race from 10 too 100k!!
« Reply #149 on: September 02, 2014, 06:35:27 PM »
Sorry, I was on vacation. I've updated mine now. It was a good month for my stocks!