Author Topic: Race from 10 to 100k!!  (Read 355045 times)

fb132

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Re: Race from 10 too 100k!!
« Reply #550 on: August 14, 2015, 10:14:32 AM »
29M in Canada, 82k salary. Newbie to the forum, and started my Journey with MMM just a couple months ago. I certainly was living a similiar path trying to get out of student loan and clown-car debt, but MMM definitely helped me realize the possibilities and how to get there! NW was negative for many years before this start date. I've done what feels like tremendous work and halfway to the 100k networth now IF I include my Defined benefits pension (what are peoples thoughts on including this? i've read conflicting theories).

Anyway, since the start of this "race":
6/1/2014   $2,412.33
7/1/2014   $4,975.97
8/1/2014   $7,970.02
9/1/2014   $8,705.61
10/1/0204   $12,429.31
11/1/2014   $14,805.83
12/1/2014   $16,910.20
1/1/2015   $19,405.41
2/1/2015   $22,499.52
3/1/2015   $20,136.84
4/1/2015   $19,879.58
5/1/2015   $23,874.52
6/1/2015   $30,000.00
7/1/2015   $37,946.41
8/1/2015   $52,700.00
I include all my pre tax investments, for example, at work, 45$ each pay is automatically deducted towards my work RRSP and my employers pay also 45$ each pay towards my work RRSP. Therefore it is like I receive 90$ of income and 90$ of that income goes towards investments...then my paycheck also goes towards income category, and my money invested with Questrade is also added in my investment categories....so yes you should include them because you are afterall investing with the difference that it is done automatically from your paycheck instead of manually doing it yourself.
« Last Edit: August 14, 2015, 10:18:56 AM by fb132 »

Pooperman

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Re: Race from 10 too 100k!!
« Reply #551 on: August 14, 2015, 10:16:33 AM »
29M in Canada, 82k salary. Newbie to the forum, and started my Journey with MMM just a couple months ago. I certainly was living a similiar path trying to get out of student loan and clown-car debt, but MMM definitely helped me realize the possibilities and how to get there! NW was negative for many years before this start date. I've done what feels like tremendous work and halfway to the 100k networth now IF I include my Defined benefits pension (what are peoples thoughts on including this? i've read conflicting theories).

Anyway, since the start of this "race":
6/1/2014   $2,412.33
7/1/2014   $4,975.97
8/1/2014   $7,970.02
9/1/2014   $8,705.61
10/1/0204   $12,429.31
11/1/2014   $14,805.83
12/1/2014   $16,910.20
1/1/2015   $19,405.41
2/1/2015   $22,499.52
3/1/2015   $20,136.84
4/1/2015   $19,879.58
5/1/2015   $23,874.52
6/1/2015   $30,000.00
7/1/2015   $37,946.41
8/1/2015   $52,700.00
I include all my pre tax investments, for example, at work, I pay 45$ each pay towards my work RRSP and my employers pay also 45$ each pay towards my work RRSP. There for I receive 90$ of income and 90$ of investments...then my paycheck also goes towards income, and my investments with Questrade is also added in my investment categories....so yes you should include them because you are afterall investing with the difference that is done automatically from your paycheck instead of manually doing it yourself.

I agree. Count it. I only count the vested portion for these sorts of things.

JLee

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Re: Race from 10 too 100k!!
« Reply #552 on: August 14, 2015, 10:54:33 AM »
I'm so close...got paid again, 401k contribution is out of my check but hasn't hit Vanguard yet, so I'm adding it anyway.

$7725.02 net cash (zeroing current CC balance)
$38912.77 house equity
$3085.31 employer stock
$3136.02 Franklin Templeton
$43,068.59 Vanguard

$96,975.13

SO CLOSE!!!  I even spent ~$450 I wouldn't have normally spent this month...definitely makes me want to curb spending even more so I break 100k, hahaha...

TonyPlush

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Re: Race from 10 too 100k!!
« Reply #553 on: August 17, 2015, 08:52:00 AM »
I calculated my net worth for the first time in months today: $98,060.

So close...
Calculated it today: $104K!!!

Feels pretty damn good.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #554 on: August 17, 2015, 09:02:04 AM »
Congratulations, TonyPlush!!

fb132

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Re: Race from 10 too 100k!!
« Reply #555 on: August 17, 2015, 10:45:50 AM »
I calculated my net worth for the first time in months today: $98,060.

So close...
Calculated it today: $104K!!!

Feels pretty damn good.
Congrats :) Now you can join the 100-250K club.

FrugalShrew

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Re: Race from 10 too 100k!!
« Reply #556 on: August 17, 2015, 10:57:24 AM »
I calculated my net worth for the first time in months today: $98,060.

So close...
Calculated it today: $104K!!!

Feels pretty damn good.

Congratulations!! :)

jooles

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Re: Race from 10 too 100k!!
« Reply #557 on: August 17, 2015, 11:58:20 AM »
Added 1k to the savings this week.

celticmyst08

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Re: Race from 10 too 100k!!
« Reply #558 on: August 17, 2015, 12:34:06 PM »
Belated July NW post, since we've been on vacation and busy with the end of the summer semester etc.

July: $48,495.61, +13.21%

Pretty sure we'll reach $60k by the end of the year! (There will be a ~$5.6k tuition payment coming up so that will set us back a little.)
Goal: FIRE by 2026
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Pooperman

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Re: Race from 10 too 100k!!
« Reply #559 on: August 17, 2015, 01:56:20 PM »
So, my old company was bought (which is part of why I left). As a result, I got my match vested when it otherwise wouldn't be. Networth + $1,250 :D. Should be just a bit higher than $38k at the end of this month, depending on how much is spent over the next two weeks and whether or not the paycheck comes on the 31st or 1st. It's good to be on the way up after floundering for the last few months!

FIPurpose

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Re: Race from 10 too 100k!!
« Reply #560 on: August 18, 2015, 09:23:04 AM »
I also have now finished the competition! I am only counting liquid investments in my number. My current goal is to make to $500k by mid 2019, and then slow travel the globe for a year.

Summary:
05/2014 - $17k
06/2014 - $18k
07/2014 - $25k
08/2014 - $32k
09/2014 - $34k
10/2014 - $38k
11/2014 - $44k (wife changed jobs and about doubled her pay)
12/2014 - $47k
01/2015 - $55k (nice money from bonus time)
02/2015 - $63k
03/2015 - $69k
04/2015 - $75k
05/2015 - $80k
06/2015 - $89k (wife got a nice bonus!)
07/2015 - $95k
08/2015 - $100k (as of the 18th)

Here's to getting to $500k quickly!
My journey going from partial FI to Peace Corps to the final push to full FI:
Journal

SpareChange

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Re: Race from 10 too 100k!!
« Reply #561 on: August 18, 2015, 11:27:22 AM »
Good job, TonyPlush and Flyingcircle!!!

ranchingretirement

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Re: Race from 10 too 100k!!
« Reply #562 on: August 21, 2015, 09:05:37 PM »
I've read MMM for about a year now, but I'm new to the forums. I was recently promoted at work and my family and I are making a cross-country move as part of the transfer. My wife and I are 27, with no children and no student loan debt. We do carry a significant amount of CC debt (all at 0% with the use of balance transfer checks (2-3% per transaction)). We are currently trying to max out all tax-advantaged accounts (~50k/year, primary) while also paying down the CC debt (secondary). Our current goal is to reach $100k in net worth by June 2016 and $250k by her 30th birthday, with an eye towards FIRE sometime in our late 30s. We are also wanting to raise a family, but aren't planning on having children anytime in the next few years. Below is our net worth trajectory over the past 6 months:

March 2015: $36,337
April 2015: $38,120
May 2015: $42,347
June 2015: $47,346
July 2015: $56,109
August 2015: $59,985

Looking forward to hearing other stories as we all reach towards $100k!

celticmyst08

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Re: Race from 10 too 100k!!
« Reply #563 on: August 21, 2015, 09:43:29 PM »
Welcome! Sounds like you guys are well on your way! We're shooting for $100k by mid-2016 too :D
Goal: FIRE by 2026
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fb132

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Re: Race from 10 too 100k!!
« Reply #564 on: August 24, 2015, 04:20:50 PM »
I haven't calculated my networth of August yet, but I could already tell my networth will go down for the second time this year because of the stock market. On one side, I am super happy that I will buying some shares on sale when September hits (unless there's an amazing recovery)...but on the other hand, it is sad when you see your networth go down.

JLee

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Re: Race from 10 too 100k!!
« Reply #565 on: August 24, 2015, 06:35:25 PM »
Yeah...I don't anticipate posting many updates here in the near future.  :P

CanIndian

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Re: Race from 10 too 100k!!
« Reply #566 on: August 31, 2015, 05:44:36 AM »
May 2015: $63,000
June 2015: $65,550
July 2015: $74,250
Not a great month, August. The markets, the exchange rate and some unplanned home expenses cropping up leading to the first negative month in 2015. Sept might be worth looking forward to, with a small hike and the expenses at the home stabilizing.

May 2015: $63,000
June 2015: $65,550
July 2015: $74,250
Aug 2015: $73,900

ahueston

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Re: Race from 10 too 100k!!
« Reply #567 on: August 31, 2015, 08:33:43 AM »
Just wanted to say good luck everyone in this tread.  I enjoy reading all of your success stories.

Keep it up!

Pooperman

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Re: Race from 10 too 100k!!
« Reply #568 on: August 31, 2015, 02:29:41 PM »
Despite the headwinds, initial calculations show a new worth of $37,759.70 (up from $35,569.17). Much of this is due to a combination of not spending everything we earned this month and getting the 401k match that wasn't vested when I moved it over to an IRA. I ended up with this money (about $1200) due to the previous company being acquired by another at the time of my leaving and moving 401k providers. Finally passed the old high-water mark set in May ($36,579.20). Hopefully future months are better to our net worth than the past few have been!

frogger

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Re: Race from 10 too 100k!!
« Reply #569 on: August 31, 2015, 08:37:11 PM »
Hmm, tough summer. Not getting paid for three months, plus moving, plus some adventures makes for a trend in the wrong direction.

Jun 30: $20,200
Jul 31: $19,250
Aug 31: $15,350

Ouch. First paycheck at the new job arrives in ~two weeks. Looking forward to starting in the right direction again!

SpareChange

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Re: Race from 10 too 100k!!
« Reply #570 on: September 01, 2015, 12:09:20 AM »
Up $1,744. Slowest month on the spreadsheet for me I believe, despite earning a decent amount of overtime. The market giveth, and the market taketh away....

Pooplips

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Re: Race from 10 too 100k!!
« Reply #571 on: September 01, 2015, 06:16:37 AM »
3/9/15 - PC Net Worth $53,877
4/1/2015 - $60,080.00
5/1/2015 - $63,589.00
6/1/2015 - $65,962.00
6/26/2015 - $70,181.00
7/31/2015 - $72,988.00


9/1/2015 - $73,706.00

Still moving up!

fb132

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Re: Race from 10 too 100k!!
« Reply #572 on: September 01, 2015, 07:32:23 AM »
2015 Net worth:
January: 61 647,49$
February: 63 787,57$
March: 64 489,46$
April: 65 584,07$
May: 69 863,33$
June: 69 561,33$
July: 72 747,51$
August: 71 906,04$

For the second time this year, my networth is down from the previous month. I managed to invest 717,55$ this month, but it wasn't enough for my networth to go up because of the stock market small correction. It was the biggest drop this year and all my investments took a hit.
« Last Edit: September 01, 2015, 12:41:56 PM by fb132 »

seanc0x0

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Re: Race from 10 too 100k!!
« Reply #573 on: September 01, 2015, 09:54:26 AM »
Forgot to do last month, as I was on vacation, so this reflects two of months.

The big news is I found an RRSP account I had at a job I had 10 years ago that I'd forgotten about, which has just under 16k in it! The other investments are down due to the market, and I've been paying off the concrete we had to replace in July so not as much money going into the FI fund.

The good news is we managed the concrete without debt by saving up for it, which is a nice change from old spendy me. I do need to put some money back in a few budget categories we pillaged to avoid debt, though, so it'll slow down capital deployment for a few more months.

Since June, we've gone from $17,736.00 to $33,380, a jump of 88%! (Just wish I could keep that up!)

Woodro85

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Re: Race from 10 too 100k!!
« Reply #574 on: September 01, 2015, 10:54:39 AM »

8/1/2015   $52,700.00

Was able to do pretty well last month all things considered! Actually hoping for a decent, much better than inflation raise this month too. But that's still hoping and unconfirmed. If it happens, I will split 50/50 of the raised amount to a debt and into increasing my TFSA contributions.

Up to
9/1/2015 - $57,358.64

fb132

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Re: Race from 10 too 100k!!
« Reply #575 on: September 01, 2015, 12:43:55 PM »
Forgot to do last month, as I was on vacation, so this reflects two of months.

The big news is I found an RRSP account I had at a job I had 10 years ago that I'd forgotten about, which has just under 16k in it! The other investments are down due to the market, and I've been paying off the concrete we had to replace in July so not as much money going into the FI fund.

The good news is we managed the concrete without debt by saving up for it, which is a nice change from old spendy me. I do need to put some money back in a few budget categories we pillaged to avoid debt, though, so it'll slow down capital deployment for a few more months.

Since June, we've gone from $17,736.00 to $33,380, a jump of 88%! (Just wish I could keep that up!)
How do you forgot something important like an RRSP lol...I am sure your newly found RRSP has gone through the roof since it hasn't been touched. Plus, usually you have to send your RRSP slips when doing your tax returns, I am surprised that no one mentionned it.

Eristheunorganized

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Re: Race from 10 too 100k!!
« Reply #576 on: September 01, 2015, 12:54:46 PM »
I went from $64,710.93 at the 1st to $64,194.10. Ouch. As my net worth grows I have to get used to the fact that the market will have a bigger and bigger impact.

seanc0x0

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Re: Race from 10 too 100k!!
« Reply #577 on: September 01, 2015, 02:47:35 PM »
Forgot to do last month, as I was on vacation, so this reflects two of months.

The big news is I found an RRSP account I had at a job I had 10 years ago that I'd forgotten about, which has just under 16k in it! The other investments are down due to the market, and I've been paying off the concrete we had to replace in July so not as much money going into the FI fund.

The good news is we managed the concrete without debt by saving up for it, which is a nice change from old spendy me. I do need to put some money back in a few budget categories we pillaged to avoid debt, though, so it'll slow down capital deployment for a few more months.

Since June, we've gone from $17,736.00 to $33,380, a jump of 88%! (Just wish I could keep that up!)
How do you forgot something important like an RRSP lol...I am sure your newly found RRSP has gone through the roof since it hasn't been touched. Plus, usually you have to send your RRSP slips when doing your tax returns, I am surprised that no one mentionned it.

It was with a firm I never check (not even set up for online access), and so it was easy to forget about when it came to this. Also, no contributions and no withdrawals means nothing for taxes, so it's easy to overlook.  I wasn't at that job very long, as they closed the local office I was employed at about a year after I started.

The MER is no good (~2%) and the options are somewhat limited, so I'll be transferring it into my other RRSP.

mrteacher

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Re: Race from 10 too 100k!!
« Reply #578 on: September 01, 2015, 04:58:57 PM »
Jumping in!

My financial year goes from 9/1 to 8/31, as I am a teacher and my salary change kicks in during September. It makes more sense for me that way. So, here we go:

Roth IRA: $33,598.33
VTSAX: $12,199.90
Savings/Checking: $20,408.84
Pension: $5,280
Car: ~$7,000

9/1/2015: $78,482.07

I'd like to hit $100,000 by next summer, given that I am saving/investing roughly $1400-$1800/month.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #579 on: September 01, 2015, 05:04:04 PM »

8/1/2015$52,700.00

Was able to do pretty well last month all things considered! Actually hoping for a decent, much better than inflation raise this month too. But that's still hoping and unconfirmed. If it happens, I will split 50/50 of the raised amount to a debt and into increasing my TFSA contributions.

Up to
9/1/2015 - $57,358.64
Good luck on the raise!

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #580 on: September 01, 2015, 05:05:25 PM »
Jumping in!

My financial year goes from 9/1 to 8/31, as I am a teacher and my salary change kicks in during September. It makes more sense for me that way. So, here we go:

Roth IRA: $33,598.33
VTSAX: $12,199.90
Savings/Checking: $20,408.84
Pension: $5,280
Car: ~$7,000

9/1/2015: $78,482.07

I'd like to hit $100,000 by next summer, given that I am saving/investing roughly $1400-$1800/month.
Welcome!

Middlesbrough

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Re: Race from 10 too 100k!!
« Reply #581 on: September 01, 2015, 08:25:50 PM »
Company match came in later than the last couple years. Help offset market downturns.

Rodgers12

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Re: Race from 10 too 100k!!
« Reply #582 on: September 02, 2015, 06:21:52 AM »
Well just like most people the market brought my net worth down in August. First time this year my net worth decreased. The good news is it wasn't self inflicted (ie creating debt). Hopefully I can save even more the next few months to capitalize on lower stock prices and keep making my net worth climb north.

7/31/2015: $36,978
8/31/2015: $34,949

JLee

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Re: Race from 10 too 100k!!
« Reply #583 on: September 02, 2015, 09:11:30 AM »
I went from $64,710.93 at the 1st to $64,194.10. Ouch. As my net worth grows I have to get used to the fact that the market will have a bigger and bigger impact.

Yeah...I don't even want to add mine up right now. I'm putting ~$2k/mo into my 401k and my value is dropping.  Maybe I'll check it at the end of the year, haha.

katthjul

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Re: Race from 10 too 100k!!
« Reply #584 on: September 02, 2015, 09:12:41 AM »
Joining as well. I was waiting for the new month only to almost miss it.

2015-08-31 9,999
« Last Edit: October 01, 2015, 10:54:47 AM by katthjul »

carozy

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Re: Race from 10 too 100k!!
« Reply #585 on: September 02, 2015, 03:40:59 PM »
I decided to join in again.  I just paid off a medical bill and will be getting a new job and a raise soon (yay!).  The medical bill payment doesn't reflect in my net worth from 8/31/15 but will show up on this month's.  I figured out the spreadsheet doesn't crash using Explorer although the % change doesn't show anything.  I checked and the formula is entered but it doesn't seem to be computing.  I'm not sure if that's an Explorer thing or what.  I do like participating and now that I know it won't crash with Explorer, I will.  :)

EDIT: I just re-opened it in Explorer and it looks like it's working fine now.  Yay!  :)
« Last Edit: September 02, 2015, 03:47:08 PM by carozy »

SpareChange

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Re: Race from 10 too 100k!!
« Reply #586 on: September 02, 2015, 04:54:07 PM »
Welcome back, carozy!! And welcome to all the other new posters!

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #587 on: September 02, 2015, 05:09:22 PM »
Thanks to cash birthday gifts (and continued stashing), net worth went up despite the market:

+2.55% to 82,002.95.

Minimum target for EOY is 90,500, but hoping to get as close to the finish line as possible :-)

Looks like spreadsheet is still wacked out :/
« Last Edit: September 02, 2015, 05:15:33 PM by tarheeldan »

SpareChange

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Re: Race from 10 too 100k!!
« Reply #588 on: September 03, 2015, 01:28:12 AM »
Thanks to cash birthday gifts (and continued stashing), net worth went up despite the market:

+2.55% to 82,002.95.

Minimum target for EOY is 90,500, but hoping to get as close to the finish line as possible :-)

Looks like spreadsheet is still wacked out :/

Happy Birthday!!

ash7962

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Re: Race from 10 too 100k!!
« Reply #589 on: September 03, 2015, 07:51:15 AM »
Ooph.  I took a hit this month since for this challenge I'm only including my investment accounts as part of my NW.  Also not able to take advantage of the downturn as much as I'd like since I've diverted investable funds to helping my parents pay back a loan.  Ah well, that's how it goes.

zephyr911

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Re: Race from 10 too 100k!!
« Reply #590 on: September 03, 2015, 08:36:13 AM »
Can I join in, but make this just for my TSP?

Currently $42,367.76. Contributions + match + loan repayments = $10,852 through year-end and $971 biweekly thereafter (3-4 years to 100K depending on the market). Loan balance is ~$20K - I could pay early but have found better things to do with the money so far. We'll see.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

carozy

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Re: Race from 10 too 100k!!
« Reply #591 on: September 03, 2015, 10:54:59 AM »
Welcome back, carozy!! And welcome to all the other new posters!

Thank you!  I'm happy I reached 5 O'clock Shadow, although I know it's temporary since it doesn't reflect the big medical bill payment.  Guess I'll probably be back down to Peach Fuzz next month.  :(

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #592 on: September 03, 2015, 11:00:00 AM »
Can I join in, but make this just for my TSP?

Welcome! You won't be the only one doing something like that here :-)

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #593 on: September 03, 2015, 11:05:08 AM »
I think I got the spreadsheet back to normal-ish? Added columns through the end of the year too.

carozy

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Re: Race from 10 too 100k!!
« Reply #594 on: September 03, 2015, 11:36:04 AM »
I think I got the spreadsheet back to normal-ish? Added columns through the end of the year too.

You fixed it!  Works on Firefox now. :)  I am most pleased.  I stared at it for quite a while, just absorbing the numbers until I realized it hadn't crashed the browser!  Yay!

NJAbroad

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Re: Race from 10 too 100k!!
« Reply #595 on: September 05, 2015, 03:52:31 AM »
I would like to join this challenge.  According to YNAB, our current net worth is:

5 Sep 2015 - $13,058

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #596 on: September 05, 2015, 06:34:16 AM »
I would like to join this challenge.  According to YNAB, our current net worth is:

5 Sep 2015 - $13,058
Welcome!

celticmyst08

  • Bristles
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  • Posts: 382
  • Age: 28
  • Location: Seattle, WA
Re: Race from 10 too 100k!!
« Reply #597 on: September 05, 2015, 03:32:35 PM »
As I anticipated, our net worth dropped this month, by 4.72%. We paid over $6k in tuition and books, plus our investment portfolio dropped due to the stock market issues. All in all, I am pretty happy that we only dropped 4.72%! We're still on target to hit $60k by the end of the year.

EOY 2014: 20,639.31   
Jan 2015: 22,508.74   
Feb 2015: 30,778.55   
Mar 2015: 34,001.91   
Apr 2015: 36,607.49   
May 2015: 38,382.26   
Jun 2015: 42,838.00   
Jul 2015: 48,495.61   
Aug 2015: 46,205.22
Goal: FIRE by 2026
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FoundPeace

  • Stubble
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  • Posts: 180
Re: Race from 10 too 100k!!
« Reply #598 on: September 16, 2015, 09:43:59 AM »
Just got around to doing the calculations. Up another $1600.

So far for the year I'm at a 52% post tax and a 61% pre-tax savings rate. My effective tax rate so far this year is 15% (and that includes my ridiculous OR income taxes @ 7%)! This is the real win for me.

ohyonghao

  • Pencil Stache
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  • Posts: 635
  • Age: 34
  • Location: Hillsboro, OR
Re: Race from 10 too 100k!!
« Reply #599 on: September 17, 2015, 06:12:10 PM »
Just got around to doing the calculations. Up another $1600.

So far for the year I'm at a 52% post tax and a 61% pre-tax savings rate. My effective tax rate so far this year is 15% (and that includes my ridiculous OR income taxes @ 7%)! This is the real win for me.

You got me curious about my taxes too, looks like my effective tax rate will be about 15.5% before filing taxes and possibly still getting a refund, which would draw that number down further.  I was on track for 16% before I started shoveling more money into tax advantaged accounts.  My future taxrate for the year is coming in at a mere 14.1%.  That is also including the OR income taxes.  If you believe the "tax freedom day"* thing, I should celebrate this sometime between February 20th and February 27th.

*That's if we only count income taxes and SS for this purpose and don't complicate it with other taxes paid through utilities, vehicle registration, and property tax which would put me into possibly the first or second week of March.
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