Author Topic: Race from 10 to 100k!!  (Read 419882 times)

SingleMomDebt

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Re: Race from 10 too 100k!!
« Reply #350 on: March 06, 2015, 09:16:39 AM »
Payday today. I did it! I did it! 10,000 NW! I can officially start the race now, LOL!
Congrats Frogger!

Pooperman

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Re: Race from 10 too 100k!!
« Reply #351 on: March 06, 2015, 09:17:24 AM »
I estimate I'll hit $100k net worth in 12/2016, and $100k invested assets in 1/2017.

Pooperman! We're living parallel lives! We both just got engaged and I'm aiming for $100k net worth 12/2016 as well.

Let me guess, you got your first real job in the summer of 2013 also? You've got a 3 year head start!

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #352 on: March 06, 2015, 10:14:35 AM »
Is it okay if I jump in and I'm over $10k to start?
Yes! Welcome :-)  Jump in the spreadsheet too!

johnny847

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Re: Race from 10 too 100k!!
« Reply #353 on: March 06, 2015, 10:30:45 AM »
This. Just looking at the progress made by those who have kept updating is amazing...and it hasn't even been a year since we started this sheet.

I know! After a year we should tally up the collective increase in NW that would be sweet to see!

Agreed!

Hm....should we start a spreadsheet for this like the cycling challenge? I'd be up for maintaining it.
And I'm a complete moron who didn't notice that there is such a spreadsheet in the OP.  /face palm

ash7962

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Re: Race from 10 too 100k!!
« Reply #354 on: March 06, 2015, 02:06:08 PM »
Just updated my numbers for Feb.  Looks like I had a 3630$ change in NW which was something like half investment gains.  I don't expect to continue doing so well every month, but man would that be nice.  What is the Mustache themed title we achieve when we reach the 100k mark?  I expect to get there early 2016 :)

queenie

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Re: Race from 10 too 100k!!
« Reply #355 on: March 06, 2015, 02:59:22 PM »
Is it okay if I jump in and I'm over $10k to start?
Yes! Welcome :-)  Jump in the spreadsheet too!

Awesome!!  Here are my starting numbers:

Liabilities
Mortgage     $153,622.64
Car Loan     $19,360.61
Braces         $6,120.00
Total Liabilities  $179,102.85

Assets and Savings
RESP           $2,538.39
RRSP GIC    $592.01
TFSA #1     $716.67
TFSA #2      $716.97
Chequing Accounts $806.91
Vacation Pay Accrued $12,442.86
Savings Accounts $4,494.48
Primary Residence $175,000.00
Total Assets and Savings $197,309.29

Net Worth $18,206.44

I'm really feeling motivated now looking at everyone's numbers.  I know that there is no way to win this contest and be the first to $100k, but I still want to beat some of you.  :)  I'm starting to feel hyper aware of how every single penny of inflow and outflow affects this number and impacts us in a very real way.  And so I feel really motivated to make sure as much goes in as possible and as little comes out as possible.  My personal goal is going to be $50k net worth by the end of 2015.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #356 on: March 06, 2015, 03:56:13 PM »


I know that there is no way to win this contest and be the first to $100k, but I still want to beat some of you.  :)

We all win :-) This whole thread is full of win!

queenie

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Re: Race from 10 too 100k!!
« Reply #357 on: March 06, 2015, 04:14:41 PM »
Good point!!  :)

MoneyRx

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Re: Race from 10 too 100k!!
« Reply #358 on: March 08, 2015, 02:07:16 PM »
I have just been treading water down at the bottom of this challenge the whole time, excited to get a real job in a couple months and start moving my way up the chart!!!

Kananas

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Re: Race from 10 too 100k!!
« Reply #359 on: March 09, 2015, 02:05:56 AM »
Net worth 6th of Feb:
53219
up 1750 from Jan.

Net worth 6th of Mar:
56762
up 2335 from Feb.

I forgot one 1200+ account from last months calculations, so last months net worth was really 54427.

SpareChange

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Re: Race from 10 too 100k!!
« Reply #360 on: March 09, 2015, 02:51:57 AM »
Damn it, all these new contestants are making me drop like a rock in the spreadsheet, I was on 12 just a few days ago, now I'm on 17.
I guess I'll have to step up my game. :p

Murphy's Law of the Spreadsheet...every contestant that joins after you will have a larger starting NW than your current one :).

A hearty welcome to all the new rows on the 'sheet!

MoneyRx

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Re: Race from 10 too 100k!!
« Reply #361 on: March 09, 2015, 09:46:57 AM »
Damn it, all these new contestants are making me drop like a rock in the spreadsheet, I was on 12 just a few days ago, now I'm on 17.
I guess I'll have to step up my game. :p

Murphy's Law of the Spreadsheet...every contestant that joins after you will have a larger starting NW than your current one :).

A hearty welcome to all the new rows on the 'sheet!

That and the law of averages that if you are near the bottom (and below the stated start of 10k), others joining will likely be ahead of you. Just more motivation though!

Pooplips

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Re: Race from 10 too 100k!!
« Reply #362 on: March 09, 2015, 10:23:41 AM »
I just read this whole thread and have been truly inspired by everyone's progress.

Time to join:

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

xander92

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Re: Race from 10 too 100k!!
« Reply #363 on: March 12, 2015, 03:22:10 PM »
I'll join the late crew! Just graduated and started working!

PC net worth: $12,368

Cash: $4.0k
Investments: $18.1k
Credit: -$0.46k
Student Loan: -$9.3k

FIPurpose

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Re: Race from 10 too 100k!!
« Reply #364 on: March 12, 2015, 04:28:04 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.

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #365 on: March 12, 2015, 05:56:04 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.

Welcome to the thread!  We've experienced a little setback this month too with the stock market fluctuation, abnormally high from last month due to tax refund, and an unexpected dental emergency that is leading to a trip to Taiwan now.  But $5200/mo, that's awesome!

SpareChange

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Re: Race from 10 too 100k!!
« Reply #366 on: March 13, 2015, 07:02:50 PM »
Welcome to the thread!  We've experienced a little setback this month too with the stock market fluctuation, abnormally high from last month due to tax refund, and an unexpected dental emergency that is leading to a trip to Taiwan now.  But $5200/mo, that's awesome!

Sorry to hear that. Hope it's not too serious.

Runningtuff

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Re: Race from 10 too 100k!!
« Reply #367 on: March 13, 2015, 11:19:01 PM »
It may be some time yet, but I'll play!

Everyday: 300
Emergency fund: 5100
Retirement: 12,000

Student loan: -800 (0%)

Net worth: $16600

Wiggle

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Re: Race from 10 too 100k!!
« Reply #368 on: March 20, 2015, 04:39:05 AM »
End of February update:
Cash/Savings: $4,317
Mutual Funds (non-retirement, house savings): $10,703
Work Retirement Accounts: $32,968

NW: $47,988 (increase of $1,489)

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!

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #369 on: March 20, 2015, 04:48:29 AM »


I am now over half way to the 100k mark!

Congratulations!

misschedda

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Re: Race from 10 too 100k!!
« Reply #370 on: March 31, 2015, 06:47:16 AM »
Just updated my row of the spreadsheet and noticed that you guys have incredible percentage growth on the last few months. A lot of people's net worths are growing by 10% or more each month--way to go!

givemesunshine

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Re: Race from 10 too 100k!!
« Reply #371 on: March 31, 2015, 05:17:23 PM »
Hi all,

I'm down as expected due to medical expenses - they're all paid off now so the only way is up (I hope)!

My retirement savings (not included in this challenge) are doing well so my true NW is moving along nicely.

Good luck to all!

johnny847

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Re: Race from 10 too 100k!!
« Reply #372 on: March 31, 2015, 11:04:31 PM »
Jan 2015: 69.8k
Feb 2015: 73.8k (Back over 70k!)

A larger than expected increase this month, with $2200 of rise in net worth coming from my investments (that's 55% of the growth coming from investments).

March 2015: 76.6k

Had a good month.

Found a new place to live that will cut my housing costs in half. That starts May 1st.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #373 on: April 01, 2015, 04:42:08 AM »



 Found a new place to live that will cut my housing costs in half. That starts May 1st.

Badass! That'll speed your way to the finish line

johnny847

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Re: Race from 10 too 100k!!
« Reply #374 on: April 01, 2015, 07:10:23 AM »



 Found a new place to live that will cut my housing costs in half. That starts May 1st.

Badass! That'll speed your way to the finish line

Oh hell yes. I'm pretty excited to be moving out =)
It involves a 8.8 mile RT bike commute, which I'm also excited about. That's over 2000 miles that I will put on my bike from just commuting!

Pooplips

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Re: Race from 10 too 100k!!
« Reply #375 on: April 01, 2015, 09:44:09 AM »
Time to join:

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

4/1/2015 - $60,080.00

Big jump from that bonus money.

seanc0x0

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Re: Race from 10 too 100k!!
« Reply #376 on: April 01, 2015, 11:11:07 AM »
We're really starting to feel the bite of my wife's reduced income on mat leave.  Only up 2.47% to 13,058 from 12,743. Market headwinds didn't help, but at least I did manage to scrounge up $750 after essentials to put into the fund.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #377 on: April 01, 2015, 12:45:20 PM »
Do we have any graduates yet? Where's ohyonghao?

ohyonghao

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Re: Race from 10 too 100k!!
« Reply #378 on: April 01, 2015, 01:47:42 PM »
Do we have any graduates yet? Where's ohyonghao?
Just getting in the numbers for March.  Due to refinancing and a dental emergency we went down a little bit in net worth.  As the refinance settles out with getting the escrow payment back, skipping a month in payments, and having $400 extra going from interest to principal every month we should see our net worth savings accelerate again.

Feb: $92,666.05
Mar: $88,667.04
Total Increase: -$3,999.01

SpareChange

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Re: Race from 10 too 100k!!
« Reply #379 on: April 01, 2015, 11:49:07 PM »
Jan 2015: 69.8k
Feb 2015: 73.8k (Back over 70k!)

A larger than expected increase this month, with $2200 of rise in net worth coming from my investments (that's 55% of the growth coming from investments).

March 2015: 76.6k

Had a good month.

Found a new place to live that will cut my housing costs in half. That starts May 1st.

Nice! You'll be @ 100k in no time. My own rent goes up 5% in June unfortunately.

Pooperman

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Re: Race from 10 too 100k!!
« Reply #380 on: April 02, 2015, 06:45:45 AM »
Aw shucks, my 3/31 401k contribution didn't land until 4/1 - you'll see it in next month's figure ;)

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.

SMCx3

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Re: Race from 10 too 100k!!
« Reply #381 on: April 02, 2015, 07:02:13 AM »
I enjoy checking in on this thread and seeing the success stories. 

Appreciate the post!

frogger

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Re: Race from 10 too 100k!!
« Reply #382 on: April 02, 2015, 08:56:50 AM »
Mar 31, 2014: -11,000

Feb 28, 2015: 9300

Mar 31, 2015: 12,650

Up 3350 from last month.

Up 23,650 from last year.


johnny847

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Re: Race from 10 too 100k!!
« Reply #383 on: April 02, 2015, 09:06:48 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.

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #384 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 #385 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 #386 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 #387 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!

starterstache

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Re: Race from 10 too 100k!!
« Reply #388 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 #389 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 #390 on: April 20, 2015, 02:26:33 PM »
Good job, JLee!

tarheeldan

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Re: Race from 10 too 100k!!
« Reply #391 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 #392 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 #393 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 #394 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...

Hey It's Me

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Re: Race from 10 too 100k!!
« Reply #395 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 #396 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 #397 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 #398 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 #399 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!