Author Topic: Race from 10 to 100k!!  (Read 1296311 times)

eav

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Re: Race from 10 to 100k!!
« Reply #3150 on: September 03, 2020, 08:20:21 AM »
January 2020: 69,751
February 2020: 76,776
March 2020: $81,737
April 2020: Scary
May 2020: 81,624
June 2020: 88,147
July 2020: 94,654
August: $100,788

So I did make it to 100k, but it does seem rather precarious with this market. We'll see if I stay over 100 for next month's spreadsheet day, and if I do...good luck to everyone! I feel like this has to be the most exciting race of them all!

slowstart

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Re: Race from 10 to 100k!!
« Reply #3151 on: September 03, 2020, 10:22:38 AM »
Big lull in updates:

Dec 2019: 64,220.99
Jan 2020: 67,932.57
Feb 2020: 80,369.63
Mar 2020: 80,329.80
Sep 2020: 123,374

Made it! Thanks for the motivation to keep saving even in times of uncertainty.  See you all on the next thread! Good luck everyone!

Slanhirn

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Re: Race from 10 to 100k!!
« Reply #3152 on: September 03, 2020, 12:33:09 PM »
Tracking net worth.

EOY 12.2016 - (-£10,250)
EOY 12.2017 - £4,360
EOY 12.2018 - £40,620
EOY 12.2019 - £62,523
01.2020 - £64,537 (+2,314)
02.2020 - £65,716 (+1,179)
03.2020 - £66,908 (+1,192)
04.2020 - £67,146 (+238)
05.2020 - £69,691 (+2,545)
06.2020 - £70,554 (+863)
07.2020 - £71,934 (+1,432)
08.2020 - £75,051 (+3,117)
09.2020 - £77,109 (+2,058)

Assets = £79,751
Student loans = (£2,642)

Rosy

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Re: Race from 10 to 100k!!
« Reply #3153 on: September 04, 2020, 08:15:39 AM »
Big lull in updates:

Dec 2019: 64,220.99
Jan 2020: 67,932.57
Feb 2020: 80,369.63
Mar 2020: 80,329.80
Sep 2020: 123,374

Made it! Thanks for the motivation to keep saving even in times of uncertainty.  See you all on the next thread! Good luck everyone!

@slowstart - CONGRATS, you are awesome!, but wait, what? how in the world did you get here this fast?
Just curious and a little envious too how you made it through this thread in record time.

@eav - yay - you made it - fingers crossed it holds till October!
It will be a while before I see you in the next thread.

@kaposzta - it all adds up. You are doing great!
You might hit $80K sooner than you think.

2020 has been a wild ride.
My initial projection for 2020 was for $70K, then $75K, then 78K now I'm looking at a new projection of $86K by EOY 2020.
Makes me wonder what I could do to find an extra $4K in the next almost four months - $90K sounds and looks so much better:).
Surreal.

jdhansen

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Re: Race from 10 to 100k!!
« Reply #3154 on: September 05, 2020, 02:59:07 AM »
Progress continues on building up the savings.  Not as quite impressive as others have done this last month but progress is progress.

6/14/2020  $50,099
7/1/2020    $51,768
8/1/2020    $56,146
9/5/2020    $59,010

Solid progress this month.  Also started a side gig this week that should help the progress keep going.

DieHard_772

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Re: Race from 10 to 100k!!
« Reply #3155 on: September 07, 2020, 02:18:55 PM »
Progress continues on building up the savings.  Not as quite impressive as others have done this last month but progress is progress.

6/14/2020  $50,099
7/1/2020    $51,768
8/1/2020    $56,146
9/5/2020    $59,010

Solid progress this month.  Also started a side gig this week that should help the progress keep going.

Good job, @jdhansen .  Others on here have reminded me that each of us has our own individual
journey, and your own progress is all that matters.  Adding nearly $10k to your networth
in less than three months  is far better than most people, notwithstanding the unusual
savings environement on this site ;)  Cheers

DieHard_772

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Re: Race from 10 to 100k!!
« Reply #3156 on: September 07, 2020, 02:27:08 PM »
Our Investments and Savings (not including checking accounts)

9/28/18  - $22,949
10/28/18 - $23,952
11/28/18 - $27,878
1/28/19 - $28,853
2/28/19 - $31,682
3/28/19 - $32,684
4/28/19 - $35,011
5/28/19 - $35,838
6/28/19 - $38,276
7/28/19 - $40,607
8/28/19 - $40,508
9/28/19 - $42,168
10/28/19 -$42,209
11/28/19 - $44,478
12/28/19 -$46,408
1/28/20 - $49,115
2/28/20 - $50,466
3/28/20 - $48,609
4/28/20 - $55,026
5/28/20 - $59,256
6/28/20 - $60,807
7/28/20 - $64,342
8/28/20 - $65,454
9/7/20 -  $66,364

If you squint at the numbers, we basically tripled our networth in 2 years ($22k to $66k)  :)
Very satisfied overall, and eager for more.

Onward and upward!!

jdhansen

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Re: Race from 10 to 100k!!
« Reply #3157 on: September 09, 2020, 04:23:34 PM »
Progress continues on building up the savings.  Not as quite impressive as others have done this last month but progress is progress.

6/14/2020  $50,099
7/1/2020    $51,768
8/1/2020    $56,146
9/5/2020    $59,010

Solid progress this month.  Also started a side gig this week that should help the progress keep going.

Good job, @jdhansen .  Others on here have reminded me that each of us has our own individual
journey, and your own progress is all that matters.  Adding nearly $10k to your networth
in less than three months  is far better than most people, notwithstanding the unusual
savings environement on this site ;)  Cheers

Thanks @DieHard_772 , you make a solid point about our progress and when I look at it that way we are doing fantastic.  Congratulations on your progress as well, at this rate we will all be in the next thread in no time.

Dutch Comfort

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Re: Race from 10 to 100k!!
« Reply #3158 on: September 10, 2020, 01:57:15 AM »
Tracking investments, emergency fund and additional pension investments (all to be used to retire together with SO!)
(not tracking company pension investments, house value and current accounts)

15 May 2020: EUR 17,034
15 Jun 2020: EUR 18,160
15 July 2020: EUR 18,809
5 August 2020: EUR 18,332
10 September 2020: EUR 18,999

Recovered nicely from the holiday indulgence and school expenses for our daughter. Now up we go!!!!
Congrats to all who graduated! Very impressive!

Rimu05

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Re: Race from 10 to 100k!!
« Reply #3159 on: September 14, 2020, 08:00:36 AM »
I just graduated the Race to 10K thread so joining this one. :)

Student loan - ($24,307.94)
Credit card - ($240)


Savings - $2300
Checking - $240
401K - 31,017
Roth IRA - 1,063.71


Total -  10,073

Monthly update:

Student loan - ($24,307.94)



Savings - $2500
HSA - $3,074
Checking - $460
401K - $31,708
Roth IRA - $1,113.71


Total -  14,548

Two months later:

Student loan - ($24,307.94)



Savings - $2500
HSA - $3,525.77
Checking - $240
401K - $34,670.73
Roth IRA - $1,214.71


Total -  17,843.27

Feivel2000

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Re: Race from 10 to 100k!!
« Reply #3160 on: September 15, 2020, 02:27:00 AM »
90.473 €
+ 2.484 €
(more like + 1.484 €)

I saved 1.331 € last month, the additional ~1.150 € in increased NW mostly came from re-evaluate the worth of my flat. I always wanted to use what I paid for it in the statistic... Now I realised that I have mistyped or something... it should always have been 84.000 €.

"100k by the end of the year" is still possible... if the market goes up a little and if the fonds in my Unit-Linked Life Insurance did reasonable good this year.


          2020
          2021
          2022
          2023
Jan
-
-
-
-
Feb
-
-
-
-
Mar
-
-
-
-
Apr
-
-
-
-
May
-
-
-
-
Jun
-
-
-
-
Jul
86.134 €
-
-
-
Aug
87.989 €
-
-
-
Sept
90.473 €
-
-
-
Oct
-
-
-
-
Nov
-
-
-
-
Dec
-
-
-
-


Spoiler: show
        Assets
             
         Debts
             
Flat
+ 84.000 €
Mortage
-76.607 €
Unit-Linked Life Insurance
+ 47.304 €
Fixed-Term Deposit
+ 2.000 €
ETFs
+ 23.121 €
Stockpicks
+ 5.867 €
Peer-To-Peer
+ 2.506 €
Crypto
+ 2.282 €
« Last Edit: September 15, 2020, 02:04:35 PM by Feivel2000 »

dizzy

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Re: Race from 10 to 100k!!
« Reply #3161 on: September 17, 2020, 05:30:45 PM »
Oct 2019- $1000
Nov 2019- $2340
Dec 2019- $2779
Jan 2020- $5658
Feb 2020- $5539
Mar 2020- $5024
Apr 2020- $5444
May 2020- $8302  (wherein I finally got some of unemployment)
June 2020- $20864 (wherein I got more unemployment plus the EIDL)
mid July 2020- $31724 (got the rest of the backpay, woohoo!)
7/31/20- $33340
9/2/20- $36366
9/17/20 - $42978

Good- FINALLY PUA UNFROZE AND PAID ME AGAIN!!! It's been 2 and a half months.
Also (same as last time) I got hired for two new jobs!  Been tarting to see people all of a sudden for astrology consults, in cash.

Bad- neither new job started yet!  One job told me two days before that 3 staff were diagnosed the day before with COVID...they were gonna get back to me in a couple weeks...yeah, y'all can take your sweet time getting back to me k thx.  Other job (more organized and safe hopefully) will start next week.  No idea on number of patients and it's 50-50 split!  I guess we'll see...


Finally got my solo401k open so looking forward to working on that.  I put $3k in it but didn't get to invest it yet.  I have a bunch more of stash but since the market's been shitty and kickfurther's been good, might concentrate my efforts there before dumping it into 401k at year end.

Manchester

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Re: Race from 10 to 100k!!
« Reply #3162 on: September 22, 2020, 07:09:57 AM »
September update:

My N/W grew by £808.09 to a new total of £34,991.32.

Same as the previous six months.  I've been contributing my usual amounts to my ISA and pension, but due to COVID related reductions in earnings, I'm not making as much progress as I should have.  Markets also seem to have slipped back the past few days (which is good as I'm due to buy more stocks at the end of this week). 

Determined the break the £35k mark next month.  I've got rid of my car, which will save me some extra money each month.  I might need to get another one in the future, but in the current environment, there's no point paying for one.

I started my journey exactly 3 years ago today with a N/W of -£1,382.07.  In that time I've doubled my earnings (although not over the last 6 months lol) and decreased my spending.  I still have a long way to go and I'm far from the most frugal person on these forums, but I'm very happy with the progress I made and I'm a much happier/healthier person as a result of my financial position today.
« Last Edit: September 22, 2020, 07:16:29 AM by Manchester »

snorr

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Re: Race from 10 to 100k!!
« Reply #3163 on: September 22, 2020, 08:00:21 AM »
September update:

My N/W grew by £808.09 to a new total of £34,991.32.

Same as the previous six months.  I've been contributing my usual amounts to my ISA and pension, but due to COVID related reductions in earnings, I'm not making as much progress as I should have.  Markets also seem to have slipped back the past few days (which is good as I'm due to buy more stocks at the end of this week). 

Determined the break the £35k mark next month.  I've got rid of my car, which will save me some extra money each month.  I might need to get another one in the future, but in the current environment, there's no point paying for one.

I started my journey exactly 3 years ago today with a N/W of -£1,382.07.  In that time I've doubled my earnings (although not over the last 6 months lol) and decreased my spending.  I still have a long way to go and I'm far from the most frugal person on these forums, but I'm very happy with the progress I made and I'm a much happier/healthier person as a result of my financial position today.

Nice increases (considering it is EU(/UK ;)) and table. Is that excel? I love the bottom graph with the colours, how did you make that?

Rosy

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Re: Race from 10 to 100k!!
« Reply #3164 on: September 22, 2020, 01:19:47 PM »
GOAL: $100K by Dec 31, 2021

$  4,588 June 2017
$ 10,117 Dec 2017
       
$ 10,715 Jan 2018
$ 31,034 Dec 2018
       
$ 31,094 Jan 2019
$ 50,000 Dec 2019

$ 53,000 Jan 2020
$ 56,000 Feb 2020
$ 58,000 Mar 2020
$ 64,000 Apr 2020
$ 67,000 May 2020
$ 70,000 Jun  2020
$ 73,100 Jul   2020
$ 75,600 Aug 2020 - YAY! I broke $75K!
$ 80,000 Sep 2020
 
Someone pinch me, I saved $30K since this January. That's just so surreal.
Let's hope the last three months of 2020 turn out to be uncommonly good for us all:).

okisok

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Re: Race from 10 to 100k!!
« Reply #3165 on: September 22, 2020, 06:17:37 PM »
Ugh, still close but not quite there.

July 1: $94,885
August 1: $99,157
September 1: $96,161
Current: $92,650

Had surgery in July that affected the savings account. Had a large purchase at the beginning of this month that hasn't come off the credit card statement yet. By the end of the year I should have graduated to the next thread.

Manchester

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Re: Race from 10 to 100k!!
« Reply #3166 on: September 23, 2020, 04:11:59 AM »
@snorr

Thanks - I'd like to be making better progress, but there's a lot going on in the world a the moment and I feel lucky that I'm continuing to grow my net worth during these strange times.

I've used an excel graph called a '2D stacked column'.  I highlight all data in my graph excluding the 'total' column, select 'insert', then select the icon for 'insert column or bar chart' and it's available there.  Hope that helps. :)

Manchester

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Re: Race from 10 to 100k!!
« Reply #3167 on: September 23, 2020, 04:18:21 AM »
@Rosy You're smashing it!  You'll be out of here in no time.  There are still 3 months left and you're already clear of your previous best year!

@okcisok I'm sure you'll graduate in no-time.  I often find (albeit with much smaller figures than yours) that my N/W stagnates for a few months and then suddenly jumps forward, despite little changing in my habits or expenses.

Stubblestache

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Re: Race from 10 to 100k!!
« Reply #3168 on: September 24, 2020, 02:00:36 AM »
I'm having one of those spells where I'm getting frustrated and feeling like this is going to take forever, but just had a read through this thread and it's given me the boost I needed. So wanted to say thanks to everyone for your updates! Keep on truckin'

Manchester

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Re: Race from 10 to 100k!!
« Reply #3169 on: September 24, 2020, 03:58:32 AM »
I'm having one of those spells where I'm getting frustrated and feeling like this is going to take forever, but just had a read through this thread and it's given me the boost I needed. So wanted to say thanks to everyone for your updates! Keep on truckin'

It can get like that sometimes.  You've been smashing it so far this year.  Trust the process and keep going.  It's a marathon, not a sprint and you'll be ahead of 99% of people who aren't aiming for FIRE.

Dutch Comfort

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Re: Race from 10 to 100k!!
« Reply #3170 on: September 25, 2020, 01:52:16 AM »
I'm having one of those spells where I'm getting frustrated and feeling like this is going to take forever, but just had a read through this thread and it's given me the boost I needed. So wanted to say thanks to everyone for your updates! Keep on truckin'

Same here...... it feels like this will take forever. (feeling like a toddler: I want it and I want it NOW.....).

Stubblestache

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Re: Race from 10 to 100k!!
« Reply #3171 on: September 30, 2020, 02:22:05 AM »
Thanks @Manchester and @Dutch Comfort - good to know it's not just me.

Doing this is an excellent exercise in discipline!

Stubblestache

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Re: Race from 10 to 100k!!
« Reply #3172 on: September 30, 2020, 04:03:40 AM »

July 2018: £20,385
October 2018: £24,504
January 2019: £25, 295
April 2019: £33,844
July 2019: £38,667
October 2019: £38,588
January 2020: £43,260
April  2020:  £38,094
July 2020: £49,062.35
August 2020: £50,172 just over halfway! :)
Sept 2020: £55,556
Oct 2020 : £56,424

Rosy

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Re: Race from 10 to 100k!!
« Reply #3173 on: September 30, 2020, 08:56:37 AM »
GOAL: $100K by Dec 31, 2021

$  4,588 June 2017
$ 10,117 Dec 2017
       
$ 10,715 Jan 2018
$ 31,034 Dec 2018
       
$ 31,094 Jan 2019
$ 50,000 Dec 2019

$ 53,000 Jan 2020
$ 56,000 Feb 2020
$ 58,000 Mar 2020
$ 64,000 Apr 2020
$ 67,000 May 2020
$ 70,000 Jun  2020
$ 73,100 Jul   2020
$ 75,600 Aug 2020 - YAY! I broke $75K!
$ 80,000 Sep 2020 - Someone pinch me, I saved $30K since this January.
 
Projected total for October $81,800 - I'm taking a break from super saving and spending some money on the garden and projects, helping out family and in general just being a bit more indulgent with myself.
November projection is $1800 savings max - possibly less.
Dec? - who knows, maybe $1K - maybe zero... I'm not pushing the envelope for the rest of the year.

Life is good. Despite the title of this thread I don't want to race past my own enjoyment and experience of life.
It is more of a marathon than a race - endurance and persistence pay off in the long run, racing is too exhausting.
I find a period of rest and appreciating our accomplishments is a good thing.
Then we feel recharged and ready to go on - sometimes we just need to rethink our strategies, reflect or change course. 

Imma

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Re: Race from 10 to 100k!!
« Reply #3174 on: September 30, 2020, 11:17:20 AM »
April 2019: €10094.35
May 2019: €11629.87
June 2019: €12728.63
July 2019: €13021,33
August 2019: €10363,95
September 2019: €10338.28
October: €11128.59
November: €11227,46
December: €11991,27
January: €12576,72
February: €11904,39
March: €10425,32
April: €11830,70
May: €12154,67
June: €14634,19
July: €15345,09
August: €16444,46
September: €17108,60

Goals for 2020:
Savings: €5250
Investments: €14750

Still going in the right direction, but a bit slower due to the market + some spending. I only had 2 pairs of proper shoes left and both have high heels. So I bought a pair of flat shoes and I'm also on the lookout for boots. I've also bought a winter coat. My old coat wore through on the shoulders last winter. I'm a 30 year old professional woman. I'm not the type for diamonds and designer handbags, but I don't want to turn up looking like a broke student. I know it doesn't influence the quality of my work but most people don't look past their first impression. I'm not super interested in fashion - I know what I like and I"ll happily wear it until it falls apart - but my experience is nice clothing is an investment in my career.

I'll also need a new laptop soon since the one I use belongs to my employer and in my new job I can't use my work laptop for private purposes. So @Rosy I totally get what you mean! Sometimes we need to spend a bit to make our lives or the lives of our loved ones a bit more comfortable.

@Manchester well done getting rid of your car! Every month you don't own one you'll save money. And there are probably tons of rental and car share options over there as well if you need one just for a day. New job requires me to learn how to drive so that's going to be something else I'm going to be spending money on. Not looking forward to it as the cost of learning to drive is astronomically high here (€2000-€2500).

By the way, my friend has a place! It's a temporary situation and not great but at least for now she has a place to live.
« Last Edit: September 30, 2020, 11:20:43 AM by Imma »

LittleWanderer

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Re: Race from 10 to 100k!!
« Reply #3175 on: September 30, 2020, 01:59:54 PM »
September 2019 - $30,602
October 2019 - $31,770
November 2019 - $33,081
December 2019 - $34,820
January 2020 - $36,392
February 2020 - $35,701
March 2020 - $32,466
April 2020 - $36,157
May 2020 - $38,540
June 2020 - $39,514
July 2020 - $42,207
August 2020 - $44,045

September 2020 - $44,514

Anndddddd my 401K is back down.  Lol.  I feel like the shrug emoji guy would go well here right now.  Just staying the course, as usual. 

Ze Stash

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Re: Race from 10 to 100k!!
« Reply #3176 on: September 30, 2020, 03:23:30 PM »
Net worth:
01/01/2019: -    109,47 €
01/02/2019:      269,41 € (+   378,88 €)
01/03/2019:      890,47 € (+   621,06 €)
01/04/2019:   1.767,70 € (+   877,23 €)
01/05/2019:   3.755,46 € (+1.987,76 €)
01/06/2019:   4.814,83 € (+1.059,37 €)
01/07/2019:   5.959,50 € (+1.144,67 €)
01/08/2019:   7.116,94 € (+1.157,44 €)
01/09/2019:   9.855,39 € (+2.738,45 €)
01/10/2019:   9.718,18 € (-    137,21 €)
01/11/2019: 10.726,98 € (+1.008,80 €)
01/12/2019: 11.773,70 € (+1.046,72 €)
01/01/2020: 12.979,27 € (+1.205,57 €)
01/02/2020: 14.363,54 € (+1.384,27 €)
01/03/2020: 15.039,09 € (+   675,56 €)
01/04/2020: 15.456,74 € (+   417,65 €)
01/05/2020: 16.903,74 € (+1.447,00 €)
01/06/2020: 17.847,51 € (+   943,77 €)
01/07/2020: 19.991,35 € (+2.143,84 €)
01/08/2020: 23.859,77 € (+3.868,42 €)
01/09/2020: 27.705,58 € (+3.845,81 €)

01/10/2020: 28.348,92 € (+643,34 €)

Some vacation spending, car needed an inspection, washing machine broke, an unexpected visit at the dentist because an inlay broke and the market turned down a bit but overall still up for the month thanks to mustachian principles. On to the next month.

Tasse

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Re: Race from 10 to 100k!!
« Reply #3177 on: September 30, 2020, 08:13:35 PM »
Jul 17$6.2k
Aug 17$6.8k
Sept 17$8.2k
Oct 17$9.0k
Nov 17$9.9k
Dec 17$11.1k
Jan 18$12.1k
Feb 18$13.6k
Mar 18$15.1k
Apr 18$16.6k
May 18$17.7k
Jun 18$18.5k
Jul 18$20.2k
Aug 18$20.8k
Sept 18$22.2k
Oct 18$21.7k
Nov 18$22.5k
Dec 18$22.4k
Jan 19$24.7k
Feb 19$27.2k
Mar 19$29.3k
Apr 19$31.3k
May 19$31.5k
Jun 19$33.3k
Jul 19$35.1k
Aug 19$36.7k
Sep 19$38.6k
Oct 19$40.2k
Nov 19$42.6k
Dec 19$44.6k
Jan 20$49.0k
Feb 20$46.5k
Mar 20$42.7k
Apr 20$47.5k
May 20$50.6k
Jun 20$53.5k
Jul 20$58.5k
Aug 20$63.0k

Sept 20: $63.2k

I saved $1.9k and "lost" $1.7k in the market. Hey, I'm just happy to still be moving up!

Paid no rent this month! My progress will slow down next month as my move-in deal runs out and I have to start paying the highest rent of my life. Hoping to squeeze out a 40% savings rate.

Optimiser

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Re: Race from 10 to 100k!!
« Reply #3178 on: September 30, 2020, 09:02:41 PM »
Mar 2019 $14,000
Apr 2019 $12,700
May 2019 $9,500
Jun 2019 $11,500
Jul 2019 $17,000
Aug 2019 $19,900
Sep 2019 $19,900
Oct 2019 $26,200
Nov 2019 $34,500
Dec 2019 $37,200
Jan 2020 $43,700
Feb 2020 $45,400
Mar 2020 $45,300
Apr 2020 $52,800
May 2020 $59,400
Jun 2020 $63,400
Jul 2020 $70,900
Aug 2020 $78,500

Sep 2020 $80,700

Starting on Saturday I'll be paying rent on an apartment and my mortgage as I get my house ready to sell. Soon I'll find out how good of a job I've done of estimating my home's value. I'm guessing my net worth will trend down and then make a significant jump one way or the other in the next couple months because of all of this.

dominikm

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Re: Race from 10 to 100k!!
« Reply #3179 on: September 30, 2020, 11:53:14 PM »
Hey everyone!

I'm still quite new here. I found MMM a few years back but only started to take it seriously in January this year. You could say I had a wake-up call when 2020 hit and I realised I was not 21 anymore, 33 now, with almost no savings, assets and something like $2,000/m income or so. Living in Asia that's not half bad. But, you're not going anywhere on that kind of money especially hitting FIRE.

That was in January this year. It was a very depressing realisation.

After the ups and downs of COVID this year and a lot of personal stuff I've flipped that situation around pretty quick. I have my full journal here if anyone is interested - https://forum.mrmoneymustache.com/journals/dominik's-journey-to-$3mm-d/.

I posted once or twice in the $0 to $10K thread but didn't follow along as I was so busy making things work. I'm self-employed. So some months are great. And some months are not so great. I'm working on making every month great and focusing on my goals. I make my money from various online businesses and projects.

At the start of 2020, I had something like $4,000 saved. Today I have $21,000 banked 💪💪💪

At the start of 2020, I had something like $2,000/m coming in and now I have ~$7,300 coming in monthly.

After all my business costs and personal living expenses, I'm sitting at about ~$3,500/m. I'm not just an employee. If I was I'd be banking that $3,500/m or putting it into MMM methods. I run my own show so I'm putting about $2,500 into my various online projects to scale them up.

So right now if all goes to plan I'll be banking $1,000 extra a month. Come January I'll be banking $2,000/m extra. In April things change again and I should be banking $3,000/m. So, in theory, I should hit $30,000 banked at the end of March 2021. And by the end of 2021, I should have $57,000 banked. A pretty decent change from the start of 2020 😃

I expect my monthly income to increase quite a lot over the next year also. But, I'm not just going to keep saving and saving. My goal is to have $10,000/m - $15,000/m profit coming in monthly in the next year. So to get there I need to keep reinvesting my profits instead of just savings. My end game is $3MM banked by the time I'm 40. I'm 33 now. So I need to take this seriously. Then I will have $120,000/year or $10,000/m with the 4% withdrawal rate. A nice chunk of change each month.

It's kind of against what some preach on here but there is no right method in my opinion. If anything, what I've learnt from being around MMM is that it's not about living a frugal lifestyle. It's about being aware of your spending. It's about taking action today to work towards FIRE even if you start late as I have almost in my mid-30s. It's about setting your target and making it happen. If that's a more frugal life where you grow your own vegetables or if that's a $10K/m lifestyle. Or if you never plan to retire. As you love working or running your business and your FIRE money is your cash flow for the rest of your life so you can 100% focus on your business. So you don't have to draw a salary/dividends and can grow bigger and better than those who don't have that ability.

Once I hit about $50,000 banked I'll have enough of a safety net and feel happy enough mentally to start looking into all the MMM methods that are talked about on the blog and in the forums to use my money to grow my money. Right now and with how the world is with COVID I would much rather have liquid cash until I hit that milestone.

Thanks and wish me luck!

Upwards and onward to $100K 💪💪💪
« Last Edit: October 01, 2020, 03:19:11 AM by dominikm »

Manchester

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Re: Race from 10 to 100k!!
« Reply #3180 on: October 01, 2020, 06:11:39 AM »
@dominikm It's good that you've 'seen the light' and you seem like you're doing very well for yourself - congratulations on that. I'll take a look at your journal and wish you all the best.  You're right in what you're saying - Mustachianism is about being aware of your spending.  But adding to that further it's being aware of the correlation between spending and happiness. In your case, it seems as if the process of growing your stache is bringing fulfilment. 

@Optimiser @Tass @Ze Stash @LittleWanderer @Rosy @Stubble Stash

You're all smashing it - especially considering the markets took a big dip, it's good to see that no-one's N/W is dropping.  Shows that you're all buying stocks on sale at the moment!

@Imma Happy that your friend has a place, I'm sure that's a load off your mind.  I don't think it's shameful to invest in nice work clothes.

Thanks about the car - it's been fine so far (nearly a month in).  I still have access to my S/O's car, and we're both working from home.  I'm paying for half of her monthly rental moving forward, but as a couple, we're a few hundred £'s better off each month. We have pretty good public transport, I have a bike and ubers are easily available, so I'm well equipped to continue moving forward.

I was lucky in that my dad paid for my driving lessons whilst I was still living at home.  You can do 'crash courses' here where you spend a full week with a driving instructor, before taking a test on the weekend.  They're only around £1k.

shrimpwd

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Re: Race from 10 to 100k!!
« Reply #3181 on: October 01, 2020, 06:39:02 AM »
                  401K   NW
1-1-2018     6455   24k
12-1-2018   9518   37k
4-1-2019    10960  49k
11-6-2019   13466  53k -start of race
12-29-19     14460   56k
2-02-20       14991  57k
3-01-20       14632   58k
4-01-20       13884   58k
5-01-20       17011   63k
6-01-20       19255   66.5k
7-01-20       20358   68.4k
8-01-20.      21993   70k
9-01-20        23312    72.3k

The numbers don't look as nice this month, but that's just because Thursday is payday. I actually think I'll see 25k invested by the end of the month! I wasn't expecting that before the end of the year. I suppose I'm a bit speechless.

10-01-20       24777       74.4k

Just like before, I don't see the paycheck gains before posting for the month. Another ~700 will be added to the 401K some time today, taking me over the 25k mark. I'm thrilled! This also means that November 1st post will have a 3 paycheck increase (potentially 27k?) and if nothing crazy happens, maybe even 30k by 1/1/21?

Crazy thought... With the added 401K amount, my NW is now 25% leanFI goal. I expect an eventual leanFI to look like 250k/300k Invested/NW.

Wow.

bcbaseballman

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Re: Race from 10 to 100k!!
« Reply #3182 on: October 01, 2020, 07:14:06 AM »

2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
8/31: 5,651.70
9/31: 8,039.01
10/31: 7,803.49
11/30: 9,531.28
12/31: 9,296.79

2019
1/31/19: 13,493.35
2/28/2019: 15,766.50
3/31/2019: 19,286
4/30/2019: 19,283
5/31/2019: 18,676
6/30/2019 :22,362
7/31/2019: 24,646
8/30/2019: $27,199
9/31/2019: $30,664
10/31/2019: $33,343
11/30/2019: $35,249
12/31/2019: $39,079

2020
1/31/2020: $44,514
2/29/2020: $48,891
3/31/2020: $46,104
4/30/2020: $52,720
5/31/2020: $55,177
6/30/2020: $59,720
7/31/2020: $65,792
8/31/2020: $71,970


9/30/2020: $72,466

Glad to see everyone so far still going in the correct direction. Especially since the markets took a downward turn this month. I barely made it positive! 

As always don't forget to update the spread sheet.
https://docs.google.com/spreadsheets/d/1aBcGP8d7UD2oJif5IMSY9xmi8sIcRWKYRUswL1FE-ZM/edit#gid=0
« Last Edit: October 01, 2020, 07:28:31 AM by bcbaseballman »

Slanhirn

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Re: Race from 10 to 100k!!
« Reply #3183 on: October 01, 2020, 07:46:57 AM »
Tracking net worth.

EOY 12.2016 - (-£10,250)
EOY 12.2017 - £4,360
EOY 12.2018 - £40,620
EOY 12.2019 - £62,523
01.2020 - £64,537 (+2,314)
02.2020 - £65,716 (+1,179)
03.2020 - £66,908 (+1,192)
04.2020 - £67,146 (+238)
05.2020 - £69,691 (+2,545)
06.2020 - £70,554 (+863)
07.2020 - £71,934 (+1,432)
08.2020 - £75,051 (+3,117)
09.2020 - £77,109 (+2,058)
10.2020 - £79,787 (+2,678)

Assets = £82,032
Student loans = (£2,245)

Lelyy

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Re: Race from 10 to 100k!!
« Reply #3184 on: October 01, 2020, 09:16:01 AM »
2016: $6,222
2017: $25,604
2018: $42,277
2019: $75,560

2020
1/1/2020: $75,560
2/1/2020: $75,958 (+$398)
3/1/2020: $70,838 (-$5120)
4/1/2020: $60,843 (-$9,995)
5/1/2020: $69,088 (+$8,245)
6/1/2020: $77,048 (+$7,960)
7/1/2020: $80,663 (+$3,616)
8/1/2020: $86,713 (+$6,049)
9/1/2020: $93,441 (+$6,728)
10/1/2020 $ 91,312 (-$2,129)  🙁
*457/401k only*
« Last Edit: October 01, 2020, 09:22:25 AM by Lelyy »

mckaylabaloney

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Re: Race from 10 to 100k!!
« Reply #3185 on: October 01, 2020, 09:23:01 AM »
6/1/2020: $19,606.73
7/1/2020: $26,480.37
8/1/2020: $40,657.65
9/1/2020: $52,868.32
10/1/2020: $53,926.77

Wow, I was sure I was going to come in here and report that my net worth had indeed fallen this month. I'm glad it didn't; I hate to see my NW go down even if I know it's for reasons that are irrelevant or even helpful to me at this point in my accumulation (i.e. market fluctuations).

NikkiO

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Re: Race from 10 to 100k!!
« Reply #3186 on: October 01, 2020, 05:53:50 PM »
10/1/20 $10,023

Excited to be able to finally post in here! This will be for my own personal accounts, my 403B & Roth IRA.  As a family, net worth is much higher when including our home equity, rental home (our first house that we now rent out) my spouse’s retirement account, etc. Some background info, I was a stay at home mom for 8 years, which I loved! During that time I went back to get my master’s in social work.  Started working at a non-profit part time (to have flexibility with the kids) 6 years ago, so not a big money maker, but it’s work that I enjoy and can be fulfilling, yet sometimes emotionally draining! About a year ago, I passed my licensing exam, so I became a licensed clinical social worker.  Recently I have started providing therapy part-time, so with the therapy & social work, I’m starting to bring in enough to give us some cushion in our finances.  So here we go :)
« Last Edit: October 01, 2020, 05:56:55 PM by NikkiO »

catlady

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Re: Race from 10 to 100k!!
« Reply #3187 on: October 01, 2020, 06:44:55 PM »
Here is me and SO, nothing impressive and late to the game but as they say better late than never

25 Sept 2022 11 699.98

dominikm

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Re: Race from 10 to 100k!!
« Reply #3188 on: October 02, 2020, 01:18:09 AM »
@dominikm It's good that you've 'seen the light' and you seem like you're doing very well for yourself - congratulations on that. I'll take a look at your journal and wish you all the best.  You're right in what you're saying - Mustachianism is about being aware of your spending.  But adding to that further it's being aware of the correlation between spending and happiness. In your case, it seems as if the process of growing your stache is bringing fulfilment.

Absolutely correct! There is a strong correlation between the two.

If I just work a normal job I have zero fulfilment if it's just a means to an end (e.g. to survive). If I was just given money no matter how it comes it feels like nothing. And that's happened to me in the past when I've come across money for various reasons.

A good example was when Amazon messed up their fees and I got paid out $40K USD or so over ten days. It was nice to have the cash in the bank but it meant nothing.

It's about what I'm doing to get the money that matters to me.

dominikm

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Re: Race from 10 to 100k!!
« Reply #3189 on: October 02, 2020, 01:19:40 AM »
Here is me and SO, nothing impressive and late to the game but as they say better late than never

25 Sept 2022 11 699.98

Hey @catlady are you a time traveller? "25 Sept 2022". So can you please enlighten all of us? Is 2022 back to normal or is the world even more messed up? haha 😂 😂 😂

catlady

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Re: Race from 10 to 100k!!
« Reply #3190 on: October 02, 2020, 05:05:26 AM »
Here is me and SO, nothing impressive and late to the game but as they say better late than never

25 Sept 2022 11 699.98

Hey @catlady are you a time traveller? "25 Sept 2022". So can you please enlighten all of us? Is 2022 back to normal or is the world even more messed up? haha 😂 😂 😂

lol I sure hope not, because I expect that number to be waaay different in 2022

Now with the correct date
25 Sept 2020 / 11 699.98

jdhansen

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Re: Race from 10 to 100k!!
« Reply #3191 on: October 02, 2020, 11:00:12 AM »
6/14/2020  $50,099
7/1/2020    $51,768
8/1/2020    $56,146
9/5/2020    $59,010
10/2/2020  $62,038

Keeping the steady progress on.  The side gig is going okay, but I have found myself wanting to spend the money on fun stuff for the kids versus plowing it all back into savings like I should be.  Guess I'm trying to make up the limited time we have now that I started it up.  Hopefully this month, now that I know what I'm doing and have started to settle into a routine. I can avoid that temptation better.

dizzy

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Re: Race from 10 to 100k!!
« Reply #3192 on: October 02, 2020, 03:15:57 PM »
Oct 2019- $1000
Nov 2019- $2340
Dec 2019- $2779
Jan 2020- $5658
Feb 2020- $5539
Mar 2020- $5024
Apr 2020- $5444
May 2020- $8302  (wherein I finally got some of unemployment)
June 2020- $20864 (wherein I got more unemployment plus the EIDL)
mid July 2020- $31724 (got the rest of the backpay, woohoo!)
7/31/20- $33340
9/2/20- $36366
9/17/20 - $42978
10/2/20- $43800


Bad- PUA blocked again after a week and a half of working over 3 months, facepalm...they said I never uploaded my tax forms- of course they never asked me to.  Ugh.  I uploaded them immediately but generally it's been 2-3 months at this point for anything to get resolved in PA.  I am of course so lucky, my best friend is waiting over 3 months for hers to get unblocked, and she needs it a lot more than me.  Plus- the...

Good!- Got my first payout from tradelines- less than I thought, but it was so easy, $460.  I missed the ball last month and I may just keep it to only every other month.  It's still great though.  I saw 2 new astrology clients this week, both of whom want to book followup appointments (something I totally didn't expect).  People interested all of a sudden, I'll try to market it more.  My friend also wants one too and I may barter it for a piece of furniture she has that I used when we were roommates, she's downsizing.  So an extra $180 this week plus hopefully this nice curio thing to put my herbs and acupuncture supplies in.

Also!  Yo, speaking up for myself helps things.
New job #1: this has been postponed over and over since late March.  Sometimes understandable, but come on.  Finally starting next week, they changed it to W2 instead of 1099.  I don't love this since I'm hoping to stash as much as possible in my shiny new solo401k so I negotiated for $5/hr raise in 2021 if everything is good.  Why not.  Hopefully this will cover my taxes at least.
New job #2: was supposed to start this week, they had ZERO patients for me after 2+ months since I was hired (it's a 50/50 split).  I was like, c'mon.  I told them I now only have 1 shift available until we build up the schedule.  Low and behold, within 3 days now I have 6 people booked.

Music: I've been dealing with this old boys' club/bro culture nonsense with these guys for 13 years now (6 years where I was a full member of the band).  I finally made my voice known and spoke to everyone my feelings (no pointing fingers).  IDK if I will quit, but now I think at least people understand that I'm sick of being brushed aside/left off gigs/decision making and then filling in last minute when others don't do their part or aren't available.  If I can get over myself one member has offered me a weekly with him, tho I'd have to deal with one dude who is the main problem.  I'll see.  I know I'm super lucky to have any gigs at all during this time.  Another guy gave me a online gig for $200 which was cool.

Trifle

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Re: Race from 10 to 100k!!
« Reply #3193 on: October 02, 2020, 03:29:50 PM »
10/1/20 $10,023

Excited to be able to finally post in here! This will be for my own personal accounts, my 403B & Roth IRA.  As a family, net worth is much higher when including our home equity, rental home (our first house that we now rent out) my spouse’s retirement account, etc. Some background info, I was a stay at home mom for 8 years, which I loved! During that time I went back to get my master’s in social work.  Started working at a non-profit part time (to have flexibility with the kids) 6 years ago, so not a big money maker, but it’s work that I enjoy and can be fulfilling, yet sometimes emotionally draining! About a year ago, I passed my licensing exam, so I became a licensed clinical social worker.  Recently I have started providing therapy part-time, so with the therapy & social work, I’m starting to bring in enough to give us some cushion in our finances.  So here we go :)

Welcome to the forum @NikkiO!  Great first post.   

mountain mustache

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Re: Race from 10 to 100k!!
« Reply #3194 on: October 02, 2020, 05:34:10 PM »
Today is the first day I get to post here! This year I have finally paid off about $25k of medical debt that I've been working away at over the past 3 years. I finally feel like I am on the right track, and building some savings and getting to keep ALL of the money I earn. My goal is to get to $100k in the next 10 years, and also buy my first small home.

10/02/2020- $14835.83

JCGreen

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Re: Race from 10 to 100k!!
« Reply #3195 on: October 02, 2020, 09:44:32 PM »
I do not include my savings to buy expensive "fun items" like new cellphone, electronics etc. as it is not very big. My checking account is also not included as it has money I will likely spend this month. Goal for 2020 is to make it to $75K.

Net worth:
2017:
Dec2017:$7800
2018
Apr2018:$13,200
Aug2018:$22,800
Sep2018: $23,645
Oct2018: $23,658
Nov2018: $23,948 (+$290)
Dec2018: $23,960 (+12)
2019
Jan2019: $27,100 (+3140)
Feb2019: $29,443 (+2343)
Mar2019: $31,603 (+2160)
Apr2019: $33,959 (+2356)
May2019: $33,933 (-$26)
Jun2019: $37,928 (+3995)
Jul2019: $39,736 (+1808)
Aug2019: $39,918 (+182)
Sep2019: $34,179 (-5739)
Oct2019: $38,091 (+3912)
Nov2019: $39,867 (+1776)
Dec2019: $43836 (+$3968)
2020
Jan2020:$45,839 (+$2003)
Feb2020:$43,345 (-$2494)
Mar2020:$39,081 (-$4264)
Apr2020:$47,551 (+$9470)
May2020:$51,613 (+$4,061)
Jun2020:$56,760 (+$5147)
Jul2020:$61,567 (+$4,807)
Aug2020:$68,102 (+$6,535)
Sep2020:$68,212.95 (+$109.99) - Not a lot of progress this month - lost a little in the market, but additions were typical for me.  Great job to everyone that graduated.

kaposzta

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Re: Race from 10 to 100k!!
« Reply #3196 on: October 05, 2020, 03:50:08 AM »
July 12, 2019: $66,565
Aug 1, 2019: $68,207 (+2.47%, +$1,642)
Aug 29, 2019: $69,931 (+2.53%, +$1,724)
Sept 29, 2019: $71,138 (+1.73%, +$1,207)
Oct 31, 2019: $71,517 (+0.53%, +$379)
Nov 29, 2019: $73,138 (+2.27%, +$1,621)
Jan 01, 2020: $74,276 (+1.56%, +$1,138)
Feb 06, 2020: $73,621 (-0.88%, -$655)
March 05, 2020: $74,517 (+1.22%, +$896)
No data for April, I lost my interest seeing the losses :)
May 05, 2020: $68,620 (-8.59%, -$5,897)
June 04, 2020: $70,345 (+2.51%, +$1,725)
July 02, 2020: $72,483 (+3.04%, +$2,138)
August 05, 2020: $74,655 (+3.00%, +$2,172)
Sept 03, 2020: $75,241 (+0.78%, +$586)
Oct 01, 2020: $77,551 (+3.07%, +$2,310)

Despite the mediocre SR (53%), the increase to my net worth was a record high +3.07%. My investments were up by around 3%, and I received the payments of 2 domains sales in early September. I would like to return to 60%+ SR rates, in order to reach at least $80k net worth by the end of the year.

nmitb

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Re: Race from 10 to 100k!!
« Reply #3197 on: October 05, 2020, 01:51:14 PM »

                       2019                2020                2021                2022               
Jan-$7,248$35,632--
Feb-$6,093$32,925--
Mar-$1,081$32,425--
Apr$1,221$25,737--
May$4,418$26,441--
Jun$5,562$28,440--
Jul$7,408$30,601--
Aug$9,255$31,579--
Sept$25,361$34,167--
Oct$27,333$36,940--
Nov$31,211---
Dec$33,422---

Gingersnaps

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Re: Race from 10 to 100k!!
« Reply #3198 on: October 06, 2020, 06:49:26 AM »
01/07/2020 - £75,523.86
01/08/2020 - £76,466.46
01/09/2020 - £79,690.65
01/10/2020 - £95,664.71

Wow, getting a couple of updated pension figures has really helped this month! Graduation is hopefully in reach this year. 

Sanitary Stache

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Re: Race from 10 to 100k!!
« Reply #3199 on: October 06, 2020, 08:08:27 AM »
I am resolved to wait until January to consider having actually completed this race, but with a big influx of cash this month we broke $100,000.

May 31, 2020          - $ 72,426.81
June 19, 2020         - $ 82,681.14 (+$10,254.33) 
August 6, 2020        - $ 89,237.00 (+$ 6,555.86) 
September 2, 2020  - $ 93,346.17 (+$ 4,109.17) 
October 6, 2020      -  $103,450.xx(+$10,103.xx) I rounded some numbers for this calculation.  DW partnership sale complete. Started including some ESOP shares I had forgotten about.

These numbers went up so dramatically I find it hard to believe.  I made another projection of our budget for the next 3 years and have estimated a sobering $10,000 in savings per year.  This is part of the reason I am reluctant to leave this race until January, joining the race to 250k looks like a much longer journey and I don't want to get started too early.