Author Topic: Race to Positive Net Worth  (Read 19348 times)

Trifele

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Re: Race to Positive Net Worth
« Reply #100 on: April 30, 2018, 12:09:13 PM »
I'm at -$70,919 net worth.  No reason why it shouldn't be under $70k by my June birthday.  So I'm racing to under $70k right now.

Great goal, PacificEve.  Go you!

talltexan

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Re: Race to Positive Net Worth
« Reply #101 on: May 04, 2018, 08:29:45 AM »
I think this kind of forum is great for sharing personal details. PacificEve, do you think you can make a plan to turn that -$70,000 into a zero in two years?

shinn497

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Re: Race to Positive Net Worth
« Reply #102 on: May 21, 2018, 10:06:05 PM »
I'm at - 4k ish (- 6.5k + 2.5k in investments).

I think i could be positive in july!

BobTheBuilder

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Re: Race to Positive Net Worth
« Reply #103 on: May 30, 2018, 11:51:43 AM »
Update for May:

Student loan: -3,220 at 0.75%
Bank loan: -8,557 at 3.3% (small extra payment of 50 incl.)

CC, Investments and liquidity: 5912
Car: 2,900

NW: -3,235 (Gaining almost 800)

I like.

ElleFiji

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Re: Race to Positive Net Worth
« Reply #104 on: June 17, 2018, 09:32:11 AM »
@SeaKayEl

Resetting finances is hard. A massive push backwards. But you'll be a zero again in no time!

shinn497

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Re: Race to Positive Net Worth
« Reply #105 on: June 29, 2018, 01:44:54 AM »
I'm at - 4k ish (- 6.5k + 2.5k in investments).

I think i could be positive in july!

Ayo its nearly july but that direct deposit just hit (yeah I stayed up for it).

As of it I am EVER so close.

investments: 2550

Student Loans: 1900
Medic debt: 750
Cable bill debt: 90

Net: - 190

ALMOST THERE

Technically I am net worth positive because of cash, but I run a zero based budget so I am not counting that since it is all going to be gone this month.

BobTheBuilder

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Re: Race to Positive Net Worth
« Reply #106 on: June 29, 2018, 10:59:32 AM »
Nice shinn, next month probably!

I made a huge jump thanks to my investments. I plan on cashing most of it out during July, I already converted some gains to cash. Here it goes:

Update for June:

Student loan: -3,102 at 0.75%
Bank loan: -8,199 at 3.3% (major extra payment)

CC, Investments and liquidity: 7,713
Car: 2,800

NW: -788 (Gaining around 2,500!)

Wow. I Never thought I would see 3 digits that soon. That is 148% of my target increase for September already :-) I did not plan further because of job change at that time point. Up Up!

Trifele

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Re: Race to Positive Net Worth
« Reply #107 on: June 29, 2018, 03:02:56 PM »
Wow @shinn497 and @BobTheBuilder  -- you are almost there!!  [cheering wildly from the sideline!]

What's next for the two of you?  The Race to $10k thread?  Lots of nice people there.

shinn497

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Re: Race to Positive Net Worth
« Reply #108 on: June 29, 2018, 03:15:40 PM »
I have a couple milestones 25k net worth next year. Then 65 after that then 100k and onto a MILLLION . I have a spreadsheet with plans.

Also doubling down on work to increase my salary so I can save moar. And oyu know japan and anime conventions and stuff.

BobTheBuilder

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Re: Race to Positive Net Worth
« Reply #109 on: June 30, 2018, 02:35:49 AM »
Yes, race to 10k will be the next step.

In the best case scenario, I will be looking at several hundreds to 1k more after taxes after October. My preference is on not moving, since we rent quite cheaply here, and work much closer to home. In that case, 10k is doable in 2019! More detailled, that would be upping the EF, automating the increased pay down on the bank loan and filling investment accounts with MSCI World for a while.

talltexan

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Re: Race to Positive Net Worth
« Reply #110 on: July 25, 2018, 08:13:11 AM »
SeaKay, you deserve credit for trying to lap the debt through "taxable investments" rather than just trying to pay it off. How are you allocating those investments?

BobTheBuilder

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Re: Race to Positive Net Worth
« Reply #111 on: August 03, 2018, 03:03:49 AM »
Hey SeaKayEl, congrats on the recovery speed! Keep going!

This month I am late to the party because I was/am heavily invested in TESLA and did not want to skew my results right before/after earnings and the correspondingly hysterical market reaction. So with a grain of salt and not the detailed listing from the last months, I am now at....

-270 net worth. Which is up 500 over end of June including summer vacation.

Almost there! Let's see what happens in August while I lock in some more paper gains on my foolish stock pick :-D


AngelaG86

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Re: Race to Positive Net Worth
« Reply #112 on: August 12, 2018, 11:11:50 AM »
Really glad to find this thread! I won't know my exact number until my fiance comes home from work (doing joint net worth), but will post it once I know. Going purely off the numbers I do have, I expect it to be greater than -$200,000. :/

Trifele

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Re: Race to Positive Net Worth
« Reply #113 on: August 12, 2018, 11:48:32 AM »
Welcome @AngelaG86 !  You can do this -- lots of us started way in the hole.  Lots of good support here. 

talltexan

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Re: Race to Positive Net Worth
« Reply #114 on: August 15, 2018, 06:22:37 AM »
For those of you just starting, don't forget: if you have a huge mortgage on your residence, you also own that residence, so add a conservative estimate of its valuation. You may find you're not as deep in the hole as you thought.

EarlyInJourney

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Re: Race to Positive Net Worth
« Reply #115 on: August 16, 2018, 11:28:50 AM »
Update:

12/9/2017:

Federal student loan (6.25%): 56000
Navient student loan (4.75%):  5600
Credit cards (0% until Feb. 2019):  10600
car lease (face punch!):  4800
Total debt:  77000

Retirement health savings account:  7000
457B:  2500
Cash:  4000
Total assets: 13500

Net worth:  -63500

I'm getting married in 2018, so while it will be a wonderful year in some regards, it won't be the best year financially for me.  Still, my goal is to have all CC debt paid off by the time the promotional 0% offer ends in 2019, plus keep contributing steadily to the RHSA and 457 (currently, including employer contributions, adding $700/mo).



Current - 8/16/2018:

Federal student loan (6.25%): 56000  (chugging away paying interest and not much more, what I'm required to pay based on income, waiting to get to Public Service Loan Forgiveness in a few years)
Navient student loan (4.75%):  0  (Yay!  With a little help from my now wife, wiped out that debt!)
Credit cards (0% until Feb. 2019):  12400 (last month's wedding costs bumped this up $1800 from last December.  Not bad, actually - I was able to pay a lot as I went)
car lease (face punch!):  2800
Total debt:  71200 (reduction of 5800)

Retirement health savings account:  10400
457B:  8200
Cash:  2000
Total assets: 20600

Net worth:  -50600 (+12900)

I'm getting got married in 2018, so while it will be a wonderful year in some regards, it won't be the best year financially for me.  I'm actually pretty happy that I was able to get married and still increase my net worth by almost 13K in nine months! 

Still, my goal is to have all CC debt paid off by the time the promotional 0% offer ends in 2019, plus keep contributing steadily to the RHSA and 457 (currently, including employer contributions, adding $700/mo).  Hmm, I'm not sure I'll make, or even want to make, the CC goal.  I've significantly increased my contributions to my 457b, up to $1300/mo, trying to get my AGI as low as possible for taxes and what I'll be required to pay on my student loan next year.  With a bunch of attractive balance transfer offers floating around (0% for 15-21 mos, possibility of no balance transfer fee), I'm wondering if I shouldn't just put paying off the CC debt on the back burner (keeping it all at 0% via transfer), and plow as much as possible into my 457b.  Thoughts?


Also, I should probably bump up my bare bones emergency fund.  Currently it's $500.  My wife has a decent chunk of cash in savings to draw from if necessary, so it's not scary low, but yeah, I'm thinking it would be good to have a slightly less bare bones $1000 sitting in a high yield savings account, just in case...

Congrats to everyone on your accomplishments - it's definitely inspiring to read about other folks' successes!


Still Being

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Re: Race to Positive Net Worth
« Reply #116 on: October 05, 2018, 09:22:18 AM »
Date                 Net Worth          Change 
      
8/23/2017         (23,392)    Found MMM
      
9/1/2017          (23,244)   
10/1/2017         (21,063)         2,181 
11/1/2017         (19,499)         1,564 
12/1/2017         (17,399)         2,100 
1/1/2018          (13,819)         3,580 
2/1/2018          (12,188)         1,631 
3/1/2018          (10,210)         1,978 
4/1/2018          (10,068)           142 
5/1/2018          (10,879)          (811)
6/1/2018            (7,057)         3,822 
7/1/2018            (8,116)        (1,059)
8/1/2018            (7,089)         1,027 
9/1/2018            (5,587)         1,502 
10/1/2018           (3,724)         1,863 

10/05/2018        (1,556)         2,168 
Total                                        21,688


So close!

ItsALongStory

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Re: Race to Positive Net Worth
« Reply #117 on: October 05, 2018, 04:25:18 PM »
One more month is all you need!

Time to think about the next goal :)

Still Being

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Re: Race to Positive Net Worth
« Reply #118 on: October 06, 2018, 06:34:24 AM »
One more month is all you need!

Time to think about the next goal :)

Definitely! I am just about to hit 0 and can barely find the motivation to keep doing BS. Don't know how people with millions continue to do it haha.

So Awesome DS!!

Thank you!! Pretty pumped!

EarlyInJourney

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Re: Race to Positive Net Worth
« Reply #119 on: October 15, 2018, 02:46:00 PM »
Update:

12/9/2017:
Federal student loan (6.25%): 56000
Navient student loan (4.75%):  5600
Credit cards (0% until Feb. 2019):  10600
car lease (face punch!):  4800
Total debt:  77000

Retirement health savings account:  7000
457B:  2500
Cash:  4000
Total assets: 13500

Net worth:  -63500



8/16/2018:

Federal student loan (6.25%): 56000
Navient student loan (4.75%):  0
Credit cards (0% until Feb. 2019):  12400
car lease (face punch!):  2800
Total debt:  71200 (reduction of 5800)

Retirement health savings account:  10400
457B:  8200
Cash:  2000
Total assets: 20600

Net worth:  -50600 (+12900)




10-15-2018
Federal Student Loan (6.25%):  56000
Credit cards (0% until 2-2019):  11061
Car lease:  2281
Total Debt:  69342

RHSA:  10822
457B:  10579
cash:  2000
Total assets:  23401

Net worth:  -45941 (+4659 since 8-16-2018, +17559 since 12-9-2017)

Thinking about this stuff daily, or nearly so, the progress seems really slow.  It's really good for me, and for my motivation, to take a step back and see that yes, I am definitely making progress, and it's not -that- slow.  Thanks for posting, everybody!

talltexan

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Re: Race to Positive Net Worth
« Reply #120 on: October 24, 2018, 11:13:49 AM »
How are you calculating the car lease balance?

EarlyInJourney

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Re: Race to Positive Net Worth
« Reply #121 on: October 25, 2018, 07:32:14 PM »
Um, I'm not calculating at all; that's what the remaining balance is.  Unless I get hit with a fee for damage, etc., when the lease is done.  Is that what you're alluding to?

talltexan

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Re: Race to Positive Net Worth
« Reply #122 on: October 30, 2018, 07:11:31 AM »
So paying the lease early won't affect how much you pay, right?

EarlyInJourney

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Re: Race to Positive Net Worth
« Reply #123 on: October 30, 2018, 09:11:05 PM »
Oh, gotcha.  No, there's no incentive to pay it off early.  Last payment next June, return the car to the dealer in July, finishing up the 39 month lease.

While not ideal, leasing the car wasn't the stupidest idea.  It's an electric, and the state of California mailed me a nice check as an incentive.  Plus, I don't miss paying for gas or maintenance...

My current plan is to buy a 3-5 year old Prius when the lease ends.  The Prius is apparently the (un)official car of the state, and there are a bunch of used ones for sale around me, often at pretty nice prices...

BobTheBuilder

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Re: Race to Positive Net Worth
« Reply #124 on: November 01, 2018, 05:11:22 AM »
It seems that luck and bad luck alternate sometimes.
I had to replace expensive computer parts in a hurry, had an unplanned wedding attendance and the stock market reversed the previous gains.

So after all, I am now at -947
Of that, 7,157 is cash-like and investments, 2,400 is my car, and 10,504 is remaining total debt.

Since I have a better paying job now, I will probably still be out of the red for good by the end of the year!

Prognosis for end of November is -600, end of December is +200
Looking forward to having less than 10K debt starting with todays pay!

Still Being

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Re: Race to Positive Net Worth
« Reply #125 on: November 30, 2018, 07:36:25 AM »
Today sitting at about +$170! This phase of life is coming to an end.
« Last Edit: November 30, 2018, 09:12:41 AM by Still Being »

BobTheBuilder

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Re: Race to Positive Net Worth
« Reply #126 on: November 30, 2018, 09:08:43 AM »
Today sitting at about $170. This phase of life is coming to an end.

Almost there or already positive? I finished November at -648. I will very likely post a goodbye here and graduate to the race to 10k thread on Jan 1st (or 2nd :-).
Next step is the investment policy for 2019.
Keep going up!

Still Being

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Re: Race to Positive Net Worth
« Reply #127 on: November 30, 2018, 09:12:53 AM »
Today sitting at about $170. This phase of life is coming to an end.

Almost there or already positive? I finished November at -648. I will very likely post a goodbye here and graduate to the race to 10k thread on Jan 1st (or 2nd :-).
Next step is the investment policy for 2019.
Keep going up!

Positive! Feels amazing!

Optimiser

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Re: Race to Positive Net Worth
« Reply #128 on: December 04, 2018, 09:32:36 AM »
I owe this thread an update!

January: -57,500
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
July: -41,300
August: -40,200
September: -33,200
October: -30,900
November: -34,000
December: -30,800
Jan 2018: -28,300
Feb 2018: -24,300
Mar 2018: -25,100
Apr 2018: -22,800
May 2018: -23,700
Jun 2018: -15,600
Jul 2018: -15,100
Aug 2018: -14,400
Sep 2018: -15,200
Oct 2018: -9,600
Nov 2018: -10,900

My progress blows me away and I am looking forward to leaving this thread sometime in 2019.