Author Topic: Race from 10 to 100k!!  (Read 380453 times)

JLee

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Re: Race from 10 too 100k!!
« Reply #400 on: April 25, 2015, 01:58:11 PM »
Just hit $10K - hoping to be at $40K by end of 2015.
Awesome - congratulations!

Eristheunorganized

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Re: Race from 10 too 100k!!
« Reply #401 on: April 25, 2015, 02:37:11 PM »
I just hit 40k, which is more money than I've ever made in a year. Every 10k feels great to a lower income earner like me.

tomita

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Re: Race from 10 too 100k!!
« Reply #402 on: April 25, 2015, 05:12:13 PM »
NW 16300
(47600 invested
21500 SL
10300 credit card debt)

Hey It's Me

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Re: Race from 10 to 100k!!
« Reply #403 on: April 25, 2015, 06:38:17 PM »
6/30/2014: -$6922
7/31/2014: $2291
8/31/2014: $5896
9/30/2014: $11,201
10/31/2014: $14,610
11/30/2014: $21,534
12/31/2014: $24,703
1/31/2015: $22,583
2/28/2015: $27,906

Ah yes back in the right direction. Despite a nearly $1400 repair, I'm doing well. Holiday bonus and a separate company wide bonus gave me a little edge. S.O. has paid me back some for our trip plans. New 401k kicked in and I bumped up my HSA contributions. Also got a big credit card bonus. ($200 from Chase.)

How cool is it to see your net worth increase by over $35K in just 8 months? Imagine if someone had a summary of your life to date; they would be scratching their heads about what happened in June of 2014. Ha!

SpareChange

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Re: Race from 10 too 100k!!
« Reply #404 on: April 26, 2015, 10:49:18 PM »
Just hit $10K - hoping to be at $40K by end of 2015.

Excellent.

SpareChange

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Re: Race from 10 too 100k!!
« Reply #405 on: April 26, 2015, 10:51:41 PM »
I just hit 40k, which is more money than I've ever made in a year. Every 10k feels great to a lower income earner like me.

It should feel great! Awesome job!

celticmyst08

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Re: Race from 10 too 100k!!
« Reply #406 on: April 28, 2015, 11:58:40 AM »
Jumping in on this too! Our current NW is $31-$32k, of which $21k is invested. It's going to dip for awhile, though, because in May we are paying ~$3k for tuition, and then another ~$6k in the fall, with a continual $1700/month being saved for future tuition (through 2017). $1500-$2000/month or so will be going to investments. We originally wanted to have $50k invested by the end of the year but with school I'm not sure that's feasible unless the stock market does insanely well. :P I think we'll shoot for $40k. I'll be pretty happy if we can pull that off. :)
« Last Edit: April 28, 2015, 12:01:34 PM by celticmyst08 »

misschedda

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Re: Race from 10 too 100k!!
« Reply #407 on: April 28, 2015, 12:34:03 PM »
It's going to dip for awhile, though, because in May we are paying ~$3k for tuition, and then another ~$6k in the fall, with a continual $1700/month being saved for future tuition (through 2017). $1500-$2000/month or so will be going to investments. We originally wanted to have $50k invested by the end of the year but with school I'm not sure that's feasible unless the stock market does insanely well. :P I think we'll shoot for $40k. I'll be pretty happy if we can pull that off. :)

Welcome! And it's nice to know that tuition is also an investment in human capital, so at least that money you aren't putting into investments is still working to make you richer!

celticmyst08

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Re: Race from 10 too 100k!!
« Reply #408 on: April 28, 2015, 02:55:40 PM »
Thanks! Yeah... I should be able to double my earnings as soon as I graduate (maybe even before, if I can snag a related job while still finishing my degree), and the job prospects in the field are really positive, so even though this isn't a traditional investment I'm confident I'll be much better off financially.

Honestly I'm just super happy we don't have to take out any more student loans. We have about $4500 left on my husband's student loan and then we'll be free and clear.

SpareChange

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Re: Race from 10 too 100k!!
« Reply #409 on: April 30, 2015, 11:07:56 AM »
Hey guys! Up about $4k. I opened an HSA this month and funded it for the year.  Nothing else too special about April...just steady as as she goes. OT dried up for this month, unfortunately. Hope everyone did well!

misschedda

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Re: Race from 10 too 100k!!
« Reply #410 on: April 30, 2015, 11:13:07 AM »
Hey guys! Up about $4k. I opened an HSA this month and funded it for the year.  Nothing else too special about April...just steady as as she goes. OT dried up for this month, unfortunately. Hope everyone did well!

Wow SpareChange! In the past two months you sped right past me. Keep up the good work.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #411 on: April 30, 2015, 11:18:09 AM »
Up about $4k. I opened an HSA this month and funded it for the year.
$4k is awesome! NW +7.4% Good stuff!

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #412 on: April 30, 2015, 11:20:23 AM »
Wow SpareChange! In the past two months you sped right past me. Keep up the good work.

You had a sweet 6.3% jump too!

seanc0x0

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Re: Race from 10 too 100k!!
« Reply #413 on: April 30, 2015, 02:49:54 PM »
Thanks to some tax jiggery-pokery by the account who does our taxes (family friend, it's free for us), I ended up with a MUCH larger than expected tax refund. Half went to my wife, the rest went into my accounts.  Result, a nice jump from ~13k to ~17k, or almost 32%.  Not expecting anywhere near that next month, but it does feel pretty nice!

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #414 on: April 30, 2015, 05:19:08 PM »
A good rebound this month, followed by end of month stock sales.
March: $88,667.04
April: $94,786.61
+$6119.57

Will be out of country for 2 weeks which might stifle our progress.  One thing that held us back this month was paying next months mortgage early due to testing out a new system and not wanting to muck up our mortgage payment.  Figure if we do it a few weeks early if anything goes wrong we have that much more time to fix the issue.

Hoping by July we'll break $100k! (May is a 5th paycheck month, so that should help bolster our reserves :-)).

frogger

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Re: Race from 10 too 100k!!
« Reply #415 on: April 30, 2015, 05:33:31 PM »
Mar 31, 2015: 12,650

Apr 30, 2015: 15,750

Up 3100 from last month.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #416 on: May 01, 2015, 05:25:53 AM »
Great to see everyone's progress!

Hit 70k last month, 14.14% to FI and hoping to hit 100k by EOY :-)

misschedda

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Re: Race from 10 too 100k!!
« Reply #417 on: May 01, 2015, 09:58:22 AM »
Hit 70k last month, 14.14% to FI and hoping to hit 100k by EOY :-)

Hoping by July we'll break $100k! (May is a 5th paycheck month, so that should help bolster our reserves :-)).

Psyched to see the first graduates of this challenge!

celticmyst08

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Re: Race from 10 too 100k!!
« Reply #418 on: May 01, 2015, 11:33:21 AM »
March: $30,029
April:   $34,384

+12.7%!! Woohoo!!
« Last Edit: May 01, 2015, 04:27:15 PM by celticmyst08 »

SpareChange

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Re: Race from 10 too 100k!!
« Reply #419 on: May 01, 2015, 11:55:49 AM »
$4k is awesome! NW +7.4% Good stuff!

Wow SpareChange! In the past two months you sped right past me. Keep up the good work.

Thanks for being so supportive. I'll try to keep it up! Glad to see you guys doing so well too.

Pooplips

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Re: Race from 10 too 100k!!
« Reply #420 on: May 01, 2015, 12:07:57 PM »

3/9/15 - PC Net Worth $53,877

4/1/2015 - $60,080.00

5/1/2015 - $63,589.00

The climb continues!
« Last Edit: May 01, 2015, 12:10:30 PM by Pooplips »

Middlesbrough

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Re: Race from 10 too 100k!!
« Reply #421 on: May 01, 2015, 03:12:04 PM »
Extra paycheck and tax refund make for a good month.

Hey It's Me

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Re: Race from 10 too 100k!!
« Reply #422 on: May 03, 2015, 10:10:22 PM »
Finished off April with ~$12,000. May should end (and with it comes graduation) with me at $15,000 NW.

Wiggle

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Re: Race from 10 too 100k!!
« Reply #423 on: May 04, 2015, 05:57:28 AM »

Done moving moving around for this month so time for another snapshot, end of March:
Cash/Savings: $8,271
Mutual Funds (non-retirement, house savings): $10,756
Work Retirement Accounts: $33,506

NW: $52,533 (increase of $4,545):)

Big increase this month thanks to a ridiculous tax return (I will adjust for next year) and some lower expenditures.  I am now over half way to the 100k mark!
Paid for some car repairs this month and a little bit of indulgence too.  Nothing too crazy but going to tighten down a bit this month.

Beginning of May update:
Cash/Savings: $7,772
Mutual Funds (non-retirement, house savings): $10,686
Work Retirement Accounts: $35,726

NW: $54,184 (increase of $1,651)


Apples

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Re: Race from 10 too 100k!!
« Reply #424 on: May 04, 2015, 07:40:56 AM »
Does the spreadsheet look really wonky to anyone else?  None of the entries are in order for me.  Everything is scattered around.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #425 on: May 04, 2015, 08:45:20 AM »
It was sorted weird, all the lookup formulas etc look good though.

lpep

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Re: Race from 10 too 100k!!
« Reply #426 on: May 04, 2015, 08:12:19 PM »
Some kinda false gains for me this month--my dad's had some individual stocks for me since I was tiny, and he sold a bunch of shares awhile back (with some prodding from me) and transferred the money to me to manage! Into VTSAX it goes.

tlps

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Re: Race from 10 too 100k!!
« Reply #427 on: May 06, 2015, 04:04:07 PM »
Hi all, have just joined the forum and would love to join this challenge.

My starting point as @ 6 May 2015
Credit Cards: -7680.22
Checking & savings account: 2785.19
Company Pension plan: 7148.73
Personal pension account: balance unknown - will be transferring balance to other pension if possible??

Net worth: 2253.70  (i have put this amount in the end of Apr column on the spreadsheet - hope this is correct - if not please move to right place!)

First goal is to pay off the credit cards, then start saving........ good luck everyone
« Last Edit: May 06, 2015, 04:11:07 PM by tlps »

JLee

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Re: Race from 10 too 100k!!
« Reply #428 on: May 07, 2015, 11:59:51 AM »
I finally got a mutual fund I opened in 1998 switched over to my name (vs c/o parent).  There's $3k in it.

Current-
$3000.26 - Franklin Templeton
$2809.98 - ESP
$24,982.41 - tIRA
$8,215.80 - 401k
~$11k liquid

I just crossed $50k! Halfway there! I have $1461.50/mo going to my 401k right now, so I should be pushing $60k easily by the end of the year.

I'm not counting house equity or cars, but if I did I'd be getting really close to 100k!
« Last Edit: May 07, 2015, 12:03:05 PM by JLee »

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #429 on: May 07, 2015, 12:02:15 PM »
Welcome, tlps! and congrats, JLee!

givemesunshine

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Re: Race from 10 too 100k!!
« Reply #430 on: May 12, 2015, 10:02:47 PM »
Slowly making headway - more medical expenses last month ($5K) so happy I could absorb them and still make some savings. Hopefully only $1K more to outlay and then I can save, save, save!

SpareChange

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Re: Race from 10 too 100k!!
« Reply #431 on: May 12, 2015, 11:10:15 PM »
Slowly making headway - more medical expenses last month ($5K) so happy I could absorb them and still make some savings. Hopefully only $1K more to outlay and then I can save, save, save!

I feel ya on the medical expenses. Glad you've almost got them in the rear view mirror.

Pooperman

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Re: Race from 10 too 100k!!
« Reply #432 on: May 13, 2015, 04:15:51 AM »
New job comes with a 15k/yr increase in income, immediate vesting (1.5% match) of the 401k that I can contribute to immediately, but no HSA. HSAs are prorated, too, which kinda sucks since I can't just go max it. Anyways, this should increase the amount I can save every month by around $800. This should knock off about 4.5 months in getting to 100k :).

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #433 on: May 13, 2015, 04:36:39 AM »
Congratulations on the new job,  Pooperman!

Pooperman

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Re: Race from 10 too 100k!!
« Reply #434 on: May 13, 2015, 05:16:47 AM »
Congratulations on the new job,  Pooperman!

Thank you! New commute should be about ththe same, but working hours should be less in addition to the bump in salary. It will also allow me to do consulting on the side where I was forbidden from doing so due to the job I currently hold. I'll be glad when the wedding stuff is over. So much money spent on stuff (invitations, dress, suit, DJ, rings, etc). We're still positive most months (this one may be an exception), but our expenses would be lower if we weren't spending $500 every month on wedding related stuff. :/ hopefully the result of the wedding is a decent addition to our stache and the start of a downpayment fund for a house/rental.

SpareChange

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Re: Race from 10 too 100k!!
« Reply #435 on: May 13, 2015, 09:15:36 AM »
Thank you! New commute should be about ththe same, but working hours should be less in addition to the bump in salary. It will also allow me to do consulting on the side where I was forbidden from doing so due to the job I currently hold. I'll be glad when the wedding stuff is over. So much money spent on stuff (invitations, dress, suit, DJ, rings, etc). We're still positive most months (this one may be an exception), but our expenses would be lower if we weren't spending $500 every month on wedding related stuff. :/ hopefully the result of the wedding is a decent addition to our stache and the start of a downpayment fund for a house/rental.

More money for less work. Good deal!! That should 'roid up the ole stash in short order.

Treesworth

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Re: Race from 10 too 100k!!
« Reply #436 on: May 20, 2015, 11:35:42 PM »
Some amazing efforts here. I think maybe we should be looking at a handicap 'prize' based on income and starting date as well as line honours.

I have just recently started my path to FIRE: $14,556 31/3/2015,$16,002.42 30/4/2015. Projecting a finishing date around... end of 2018.

ash7962

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Re: Race from 10 too 100k!!
« Reply #437 on: May 21, 2015, 09:29:13 AM »
This really is the best kind of competition there is... just finishing the race means you're a winner!

jooles

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Re: Race from 10 too 100k!!
« Reply #438 on: May 21, 2015, 09:50:10 AM »
Are you talking about net worth or the specific balance of a savings or investment account? 

Does anyone have a goal for when they are trying to reach 100k?

seanc0x0

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Re: Race from 10 too 100k!!
« Reply #439 on: May 21, 2015, 02:57:20 PM »
Looks like I'm going to take a hit next month. Our driveway, which we've been saving up to repair (it's been going downhill for a while) has been very badly beaten up by the harsh winter this year. It's developed multiple large holes that pose a risk to people and property, so we've had to pull the trigger on a replacement.

I suppose I should be glad that thanks to saving up, I only have to hit my line of credit for about 40% of the total cost, but the idea of paying interest again grates. So I guess I'll be ploughing the money I've been investing into that to get it out ASAP. Just a minor setback, really, but irritating none the less.

FoundPeace

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Re: Race from 10 too 100k!!
« Reply #440 on: May 22, 2015, 11:48:53 AM »
It's been a busy month, but I just crunch my numbers from April: $50,742.21. I passed 50k! Halfway there. That's up about $31k since the start of the challenge.

Sadly it will take me a few more years to reach $100k because I'm planning on sinking about $50k into a down payment for a house next year.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #441 on: May 22, 2015, 11:56:54 AM »
Are you talking about net worth or the specific balance of a savings or investment account? 

Does anyone have a goal for when they are trying to reach 100k?

Not everyone's racing the same way, I'm going by NW, and I know at least one or two others are going by investment accounts only

I think I'll be there in 2016Q1 but hoping to get as close as possible by the end of the year :-)  I would hope new racers keep joining all the time, so there's always someone near your starting point to race against and people ahead to try to catch up to!

It's been a busy month, but I just crunch my numbers from April: $50,742.21. I passed 50k! Halfway there

Congratulations, FoundPeace! I don't see why buying the home would slow your progress too much though, you'd count home value less loan value in your NW number right?

KzooKendrick

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Re: Race from 10 too 100k!!
« Reply #442 on: May 24, 2015, 10:39:50 AM »
Hey Everyone!

I've been tracking my net worth since I had to start paying back student loans in October 2012. Started at ($3,185) and am currently at $27,713.

I'm definitely joining this challenge and have already updated my information in the spreadsheet! My goal is to hit $100K NW by mid 2017. Love this "competition"!
« Last Edit: May 24, 2015, 10:42:02 AM by KzooKendrick »

khotte

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Re: Race from 10 too 100k!!
« Reply #443 on: May 24, 2015, 10:52:19 AM »
I'm in the same boat as KzooKendrick! Currently at $9775 and hoping to hit $100k NW by Q3 of 2017!

Pooperman

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Re: Race from 10 too 100k!!
« Reply #444 on: May 24, 2015, 11:10:03 AM »
On course to hit $100k around Q4 2016/Q1 2017. Depends on markets and other stuff of course.

SpareChange

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Re: Race from 10 too 100k!!
« Reply #445 on: May 25, 2015, 12:10:12 AM »
Welcome Kzoo and khotte! You both seem to have excellent goals.


My own goal is to hit 100k by Feb 1, 2016. Difficult, but achievable I think. 

FoundPeace

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Re: Race from 10 too 100k!!
« Reply #446 on: May 28, 2015, 11:54:40 AM »
Congratulations, FoundPeace! I don't see why buying the home would slow your progress too much though, you'd count home value less loan value in your NW number right?

tarheeldan, that's a good idea. I've been trying to figure out a good way to deal with the mortgage and home values. I have been thinking about just counting my housing as an expense rather than an asset; I have a hard time counting my equity and mortgage as a part of my net worth because that is money that I will likely never see again.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #447 on: May 28, 2015, 01:50:31 PM »
I see what you guys are on about. I don't think either way is "wrong".

My personal preference would be to include it.

So the home equity doesn't produce the X% real ROR that we hope invested assets will average out to. Instead, it'll keep up with inflation probably - but I don't see that as a reason not to count it. It's part of your total portfolio, right? So you pick your asset allocation including this chunk of very high specific risk, extra illiquid, likely 0% real return (I'm just teasing here) real estate. It would be weird to ignore a large chunk of your wealth in your asset allocation.

At any time you could theoretically sell the home for equity less transactions costs and then buy up some VTSAX.

ash7962

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Re: Race from 10 too 100k!!
« Reply #448 on: May 28, 2015, 02:02:59 PM »
I'm also saving up some cash for the downpayment on a house, but I don't include that for the sake of this thread.  The downpayment funds currently exist in my bank account, and for this thread I'm only measuring the balance of my investment accounts.  Might not work for everyone if your future downpayment funds are also invested, but it might work for some.  The way I see it, when I retire I will live off of the money generated from my investment accounts only, so that is what I should be using to track my retirement progress.

Treesworth

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Re: Race from 10 too 100k!!
« Reply #449 on: May 28, 2015, 06:19:09 PM »
Looking towards recording end of month NW and it looks like I've gone backwards. I'm pretty bummed, its the first time I've experienced a backward step. The worst part is that it is not any special expenses or changed spending. It's just a spike in my investments at the end of last month and a drop this month combined with the timing of my pay. Hopefully the market stays down a bit and I can get a boost with a 3 pay check month.