Author Topic: Race from 10 to 100k!!  (Read 219820 times)

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #400 on: April 02, 2015, 09:16:16 AM »
Just for kicks - for the 25 people on the spreadsheet that have a starting May, 2014 NW and a current March, 2015 NW:

Combined NW increase: $715,151.15
« Last Edit: April 02, 2015, 09:18:19 AM by tarheeldan »

Pooperman

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Re: Race from 10 too 100k!!
« Reply #401 on: April 02, 2015, 09:43:23 AM »
I always count things as they've been paid for. When I got paid on 3/31, the 401k and HSA won't hit until around 4/6, but I count it because the money has been sent that direction as of 3/31.

I've been debating that. I use my own home-brewed software, and I mark transactions as "posted" when they are "finished." So the money I spent on 3/31 at the grocery store on my Amex wasn't counted in my 3/31 net worth figure. It doesn't show up on the special report I have for that, because they weren't yet marked as "posted." Same with the 401k numbers. For consistency, I think I'm stuck waiting until I mark them.

EDIT: Plus point of interest... last quarter, big dividend payout went into Betterment investment/retirement 12/31, but this month it's going in ~today (i.e. late.)

Heh. I use a slightly different approach. My rule is that anything that has tax implications must be tax accurate. Which usually means I need to use the post date.
But for purchases there are no tax implications (at least, not for me - I think this might matter if I owned a business or something). So for purchases I usually go by transaction date, not post date.

It really doesn't matter how you do it so long as you keep it consistent and it is providing you data the way you want to use it.

It comes down to when your net worth actually changes vs when taxes are calculated. Example: you buy a 10lb bag of rice, like the mustachian you are, on 12/31. You've agreed to buy it at the given price, so you have a debt to the store (your net worth has changed). It doesn't post until 1/2, so as far as taxes go, that's the date to use. Net worth date is 12/31, tax date is 1/2.

As you said, consistency and personal preference.

Suit

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Re: Race from 10 too 100k!!
« Reply #402 on: April 02, 2015, 07:16:05 PM »
Just for kicks - for the 25 people on the spreadsheet that have a starting May, 2014 NW and a current March, 2015 NW:

Combined NW increase: $715,151.15

This is just awesome! Thank you for calculating it, I can't wait to see what we all can do with another 2 months!

FIPurpose

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Re: Race from 10 too 100k!!
« Reply #403 on: April 04, 2015, 06:21:49 PM »
I like the way people are encouraging in this thread so I'd like to join. I've said elsewhere on this forum that I expect to hit 100k in investments this year. Right now we're floating around $64k. Down about 1.5k from the recent stock slip. Looking to put away about $5200 a month. So we're hoping to hit our goal around September time.

April 1 ~71k

Looking to hit about 76 by EOM. And SO's bonus review should be coming soon. Fingers crossed!
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starterstache

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Re: Race from 10 too 100k!!
« Reply #404 on: April 05, 2015, 12:27:47 PM »
Just crossed the 40k mark this month. We only have a single income, but hoping to hit at least 55k by the end of the year. Congrats to everyone who's making great progress in this thread.

JLee

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Re: Race from 10 too 100k!!
« Reply #405 on: April 20, 2015, 12:48:33 PM »
I might be at 50k now! I am waiting to get information on a mutual fund I opened when I was a kid, so I am hoping there's a couple thousand in there. Other investments just crossed 35k and I have about $13k liquid (should drop more into Vanguard, but I may use it to float living expenses so I can max my 401k this year). :)

I just started MMM-ing in January- curious how quickly I'll reach 100k!

Middlesbrough

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Re: Race from 10 too 100k!!
« Reply #406 on: April 20, 2015, 02:26:33 PM »
Good job, JLee!

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #407 on: April 20, 2015, 02:31:16 PM »
Congrats, JLee! Halfway to graduating this thread!

SpareChange

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Re: Race from 10 too 100k!!
« Reply #408 on: April 24, 2015, 12:49:03 AM »
I might be at 50k now! I am waiting to get information on a mutual fund I opened when I was a kid, so I am hoping there's a couple thousand in there. Other investments just crossed 35k and I have about $13k liquid (should drop more into Vanguard, but I may use it to float living expenses so I can max my 401k this year). :)

I just started MMM-ing in January- curious how quickly I'll reach 100k!

Cool. Halfway there! I hit 50k just last month myself. :)

JLee

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Re: Race from 10 too 100k!!
« Reply #409 on: April 24, 2015, 11:33:36 AM »
Not going to max 401k...starting way too late in the year to be able to afford it. I should land around $12k though, and if I do have enough liquid left at year-end I will put $5500 in a tIRA.  That should put me north of $65k by year end; hopefully 90k by the end of 2016? :D

Two9A

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Re: Race from 10 too 100k!!
« Reply #410 on: April 24, 2015, 02:04:37 PM »
Alright, I'll muck in. Some caveats:
  • I'm in England, so figures will need to be in pounds instead;
  • I'm also rewinding a month or two, because I started climbing past 10k in February;
  • I'm not counting payments against my mortgage principal, just investments.
Feb 1: 10k in Vanguard.
Mar 1: 13k.
Apr 1: 15k, hitting the tax-free savings limit for the year.
Apr 6: 33k, by taking excess cash out of the LLC, filling the limit for the next financial year.

I might need to open up a taxable account...

FXF

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Re: Race from 10 too 100k!!
« Reply #411 on: April 25, 2015, 01:57:17 AM »
Alright, I'll muck in. Some caveats:
  • I'm in England, so figures will need to be in pounds instead;
  • I'm also rewinding a month or two, because I started climbing past 10k in February;
  • I'm not counting payments against my mortgage principal, just investments.
Feb 1: 10k in Vanguard.
Mar 1: 13k.
Apr 1: 15k, hitting the tax-free savings limit for the year.
Apr 6: 33k, by taking excess cash out of the LLC, filling the limit for the next financial year.

I might need to open up a taxable account...
My numbers are Euro but just entered as $, so I wouldn't worry about it.

Anyway April was grand! Tax return and a 13th month payment have pushed me just a hair above 43k. :D Taking into consideration that I bought a flight to Australia and a new suit that is quite a nice jump.
Next month my pay rise should be in effect, helping me to boost the monthly investments. :D

Hey It's Moe

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Re: Race from 10 too 100k!!
« Reply #412 on: April 25, 2015, 06:18:04 AM »
Just hit $10K - hoping to be at $40K by end of 2015.

JLee

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Re: Race from 10 too 100k!!
« Reply #413 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 #414 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 #415 on: April 25, 2015, 05:12:13 PM »
NW 16300
(47600 invested
21500 SL
10300 credit card debt)

Hey It's Moe

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Re: Race from 10 to 100k!!
« Reply #416 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 #417 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 #418 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 #419 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 »
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misschedda

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Re: Race from 10 too 100k!!
« Reply #420 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!
I blog about my journey to FIRE at thechedda.com

celticmyst08

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Re: Race from 10 too 100k!!
« Reply #421 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.
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SpareChange

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Re: Race from 10 too 100k!!
« Reply #422 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 #423 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.
I blog about my journey to FIRE at thechedda.com

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #424 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 #425 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 #426 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 #427 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 #428 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 #429 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 #430 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!
I blog about my journey to FIRE at thechedda.com

celticmyst08

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Re: Race from 10 too 100k!!
« Reply #431 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 »
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SpareChange

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Re: Race from 10 too 100k!!
« Reply #432 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 #433 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 #434 on: May 01, 2015, 03:12:04 PM »
Extra paycheck and tax refund make for a good month.

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Re: Race from 10 too 100k!!
« Reply #435 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 #436 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 #437 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 #438 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 #439 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 #440 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 #441 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 #442 on: May 07, 2015, 12:02:15 PM »
Welcome, tlps! and congrats, JLee!

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Re: Race from 10 too 100k!!
« Reply #443 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 #444 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 #445 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 #446 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 #447 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 #448 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 #449 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.