The Money Mustache Community

Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: MSC on September 16, 2015, 04:21:24 AM

Title: $100k Club (EDIT: Closer to $200k club now)
Post by: MSC on September 16, 2015, 04:21:24 AM
Just posting because for the first time we're showing over $100k on Personal Capital. Of course this includes a tiny bit of equity in the house and a small amount for our car (based off KBB), but it still feels nice!

(http://s27.postimg.org/pnzhculhb/Screen_Shot_2015_09_16_at_6_17_30_AM.jpg)
Title: Re: $100k Club
Post by: 2Birds1Stone on September 16, 2015, 06:03:58 AM
Congrats!!!!

Great accomplishment, especially before 30 years old!
Title: Re: $100k Club
Post by: Easye418 on September 16, 2015, 08:22:01 AM
Very nice.  26 here.  Net worth negative for now.

Current:
Retirement $100k
Student Loans -$61k
Mortgage -$308k
Net Worth -$269k

Next Year, after selling the house and other things going on:

Retirement $115k (just assuming $10k more in 401k and $5k growth)
Student Loans -$40k
Mortgage -$225k (selling my current home now, buying cheaper)
Net Worth -$150k

Two Years,

Retirement $130k (just assuming $10k more in 401k and $5k growth)
Student Loans -$10k
Mortgage -$215k (selling my current home now, buying cheaper)
Net Worth -$95k

Granted, this doesn't include all of my belongings and the two cars I own straight up (~$20k).

It seems best case scenario, I am net worth breakeven at 28 years old, then it is all up from there.

Are you taking the mortgage into consideration?  If you are just considering what you own, I am probably somewhere near $150k-$175k today.
Title: Re: $100k Club
Post by: pbkmaine on September 16, 2015, 08:32:29 AM
Your house has a value. It should be added to the asset side.


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Title: Re: $100k Club
Post by: RWD on September 16, 2015, 12:45:40 PM
Congrats and welcome to the club! We hit $100k when I was 29 as well.
Title: Re: $100k Club
Post by: Lis on September 16, 2015, 01:49:12 PM
Nice! According to Mint my total net worth is just shy of $47k, but that includes 11k of my car (own outright). As long as the stock market stops crashing, I'm set to hit $50k by the end of this year. Hoping to hit $100k at the end of 2017!
Title: Re: $100k Club
Post by: MSC on September 16, 2015, 02:06:54 PM
Are you taking the mortgage into consideration?  If you are just considering what you own, I am probably somewhere near $150k-$175k today.

I owe about $148k on the house and it's worth about $163k, so the net value (net worth) from the house is about $15k!

What's your house appraised at? That might give you a significantly higher net worth if you aren't including the value of the house in your calculations!

Best of luck!
Title: Re: $100k Club
Post by: BigBangWeary on September 17, 2015, 12:53:15 AM
Well done! Enjoy the feeling and let yourself celebrate (frugally of course)!
Title: Re: $100k Club
Post by: MSC on September 17, 2015, 04:29:11 AM
Well done! Enjoy the feeling and let yourself celebrate (frugally of course)!

I already have, haha. A few days ago we opened up an ESA for our three-week old daughter!
Title: Re: $100k Club
Post by: nanu on September 17, 2015, 05:11:25 AM
Well done!
I'm at about $75K and hoping to get to $100K by the end of the year, though I don't think that's realistic. Should definitely get there by February or March at the latest though.
Though if I would count my girlfriend's (likely to be fiancée within a year or less) assets along with mine, it would be around $105K or $110K right now.
Title: Re: $100k Club
Post by: MissStache on September 17, 2015, 06:57:17 AM
Good for you!  I should hit 100K by the end of 2016 so I'll see you in the club in about a year!
Title: Re: $100k Club
Post by: ChaseJuggler on September 17, 2015, 10:02:54 AM
We are sooooooooooo close right now!

Cash $7000
Retirement $43000
Home Equity $50000

Student Loans -$4000

Net worth 95,000

29 year old teacher with about a 50% savings rate. We're projected to break 100k by November!!!
Title: Re: $100k Club
Post by: jengod on September 17, 2015, 10:15:48 AM
Wonderful. P


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Title: Re: $100k Club
Post by: Easye418 on September 17, 2015, 10:54:46 AM
Assets:$210k

Home Equity: $60k
Reitrement: $100k
Cars: $20k
Misc Assets (Furniture,TVs, jewelery, other belongings):$30k

Debts:$369k

Mortgage: $308k
Student Loans: $61k


Total: -$159k @ 26/25 years old

We will be hopefully net worth positive in 2-3 years.  I plan on downsizing my home, which should drop the net worth to -$100-$125k maybe.


Title: Re: $100k Club
Post by: KittyCat on September 17, 2015, 11:11:00 AM
Congratulations!

In the last month, I consolidated my accounts and started investing:

Retirement: 119k
Other Stocks: 10k
Cash: 9k
Car: 14.5k on KBB

Net Worth: ~152k
Title: Re: $100k Club
Post by: MSC on September 17, 2015, 01:31:43 PM
Assets:$210k

Home Equity: $60k
Reitrement: $100k
Cars: $20k
Misc Assets (Furniture,TVs, jewelery, other belongings):$30k

Debts:$369k

Mortgage: $308k
Student Loans: $61k


Total: -$159k @ 26/25 years old

We will be hopefully net worth positive in 2-3 years.  I plan on downsizing my home, which should drop the net worth to -$100-$125k maybe.

Your math is waaay off. You can either county home equity OR home value and mortgage. You're missing a lot of value in your NW doing it this way. Assuming your cars are completely paid off, your NW is actually closer to $149k!

Assets:
Home Value: $368k (this is true if your equity is $60k and your mortgage $308k)
Reitrement: $100k
Cars: $20k
Misc Assets (Furniture,TVs, jewelery, other belongings):$30k
Asset total: $518k

Debts:
Mortgage: $308k
Student Loans: $61k
Debt Total: $369k

Net Worth = $149k!
Title: Re: $100k Club
Post by: Jags4186 on September 17, 2015, 01:32:09 PM
Assets:$210k

Home Equity: $60k
Reitrement: $100k
Cars: $20k
Misc Assets (Furniture,TVs, jewelery, other belongings):$30k

Debts:$369k

Mortgage: $308k
Student Loans: $61k


Total: -$159k @ 26/25 years old

We will be hopefully net worth positive in 2-3 years.  I plan on downsizing my home, which should drop the net worth to -$100-$125k maybe.

That's not how you calculate your net worth.

If you have 60k in home equity and a $308k mortgage that means your home is worth $368k.  That means you have assets $518,000 and debts of $361,000 for a net worth of +$149,000.
Title: Re: $100k Club
Post by: MSC on September 17, 2015, 01:33:00 PM
29 year old teacher with about a 50% savings rate. We're projected to break 100k by November!!!

I'm a 29 year old teacher too (without the same savings rate)!
Title: Re: $100k Club
Post by: Acg on September 19, 2015, 07:23:48 AM
Well done! Enjoy the feeling and let yourself celebrate (frugally of course)!

I already have, haha. A few days ago we opened up an ESA for our three-week old daughter!

Why did you open as ESA vs. a 529?
Title: Re: $100k Club
Post by: MSC on September 19, 2015, 07:35:57 AM
Why did you open as ESA vs. a 529?

We live in the City of Buffalo, so there's a good chance that private school (K-12) is in our future.

I did also open an ESA so we're contributing to both right now.
Title: Re: $100k Club
Post by: kudy on September 19, 2015, 09:56:23 AM
There's something great about seeing the visual graph. The "Reports" > "Net Worth" screen in YNAB is my favorite!
Title: Re: $100k Club
Post by: Prairie Gal on September 20, 2015, 09:35:37 AM
Congrats!
Title: Re: $100k Club
Post by: beeps_mustache on September 20, 2015, 10:17:23 PM
Congrats! I just recently passed this milestone myself! Keep it up!
Title: Re: $100k Club
Post by: Punxsyboy on September 20, 2015, 11:01:00 PM
WTG!!!  I didn't hit 100k till I was in my late 30's....slow learner, but fired in Jan '15 at age 53.  Life is grand!
Title: Re: $100k Club
Post by: 11ducks on September 20, 2015, 11:29:16 PM
I'm at -$5k NW right now ($17k stash - $22k student loans), excluding retirement ($50k) Am saving as hard as I can to be able to be at zero NW by the end of 2015. Feels like shovelling uphill, but it is a massive improvement from my -$40k NW on Jan1,2014. I'm getting there, and so glad that I found this site!

Goal is NW $0 by Dec31,2015. Massive congrats to anyone in the $100k club, one day I'll be you!!
Title: Re: $100k Club
Post by: RWD on September 21, 2015, 06:55:39 AM
I'm at -$5k NW right now ($17k stash - $22k student loans), excluding retirement ($50k) Am saving as hard as I can to be able to be at zero NW by the end of 2015. Feels like shovelling uphill, but it is a massive improvement from my -$40k NW on Jan1,2014. I'm getting there, and so glad that I found this site!

Goal is NW $0 by Dec31,2015. Massive congrats to anyone in the $100k club, one day I'll be you!!

I think most of us here would include retirement accounts in our net worth.
Title: Re: $100k Club
Post by: MSC on October 29, 2015, 05:52:03 PM
Just posting because for the first time we're showing over $100k on Personal Capital. Of course this includes a tiny bit of equity in the house and a small amount for our car (based off KBB), but it still feels nice!

(http://s27.postimg.org/pnzhculhb/Screen_Shot_2015_09_16_at_6_17_30_AM.jpg)

It's amazing how quickly things add up! We're sitting at $111k about six weeks later!

(http://s13.postimg.org/lwy3actpj/Screen_Shot_2015_10_29_at_7_48_56_PM.png)
Title: Re: $100k Club
Post by: use2betrix on October 29, 2015, 06:37:11 PM
Congrats!! I'm getting very close! Im 27 and was going to hit 100k this month then my hours got severely reduced and a bunch of things came up (like a fast planned wedding at the end of the year lol)
Title: Re: $100k Club
Post by: Easye418 on November 05, 2015, 07:26:17 AM
Assets:$210k

Home Equity: $60k
Reitrement: $100k
Cars: $20k
Misc Assets (Furniture,TVs, jewelery, other belongings):$30k

Debts:$369k

Mortgage: $308k
Student Loans: $61k


Total: -$159k @ 26/25 years old

We will be hopefully net worth positive in 2-3 years.  I plan on downsizing my home, which should drop the net worth to -$100-$125k maybe.

That's not how you calculate your net worth.

If you have 60k in home equity and a $308k mortgage that means your home is worth $368k.  That means you have assets $518,000 and debts of $361,000 for a net worth of +$149,000.

You are dead right.... Mint says I am sitting at +153K net worth at 26 years old and that doesn't include my personal belongings (cars, furniture,etc.).

I was just happy to finally see my investments alone finally pass over the $100k mark.
Title: Re: $100k Club
Post by: revisednut on December 29, 2015, 05:56:48 AM
Congrats--I just made it to the $100k mark this year.  Nice to see another WNYer, same age as well!
Title: Re: $100k Club
Post by: ooeei on December 29, 2015, 07:08:30 AM
I hit 100,000.04 earlier this month, it's since dropped back down.  Congrats OP, just get ready for a few bumps along the way!
Title: Re: $100k Club
Post by: smalllife on December 29, 2015, 07:35:01 AM
Congrats!  We're above 100k as of a couple of weeks ago but will drop down again here in a week or so when we pay the last (!) tuition payment.  The 100k mark, barring a market crash, should be permanent in a month or two at the most. 

Cash = $15k
Investments = $81k
Home Equity = $50k

Loan = $42k


@Kudy, that's my favorite view in YNAB as well!



Title: Re: $100k Club
Post by: Bucksandreds on December 29, 2015, 01:56:43 PM
Very nice.  26 here.  Net worth negative for now.

Current:
Retirement $100k
Student Loans -$61k
Mortgage -$308k
Net Worth -$269k

Next Year, after selling the house and other things going on:

Retirement $115k (just assuming $10k more in 401k and $5k growth)
Student Loans -$40k
Mortgage -$225k (selling my current home now, buying cheaper)
Net Worth -$150k

Two Years,

Retirement $130k (just assuming $10k more in 401k and $5k growth)
Student Loans -$10k
Mortgage -$215k (selling my current home now, buying cheaper)
Net Worth -$95k

Granted, this doesn't include all of my belongings and the two cars I own straight up (~$20k).

It seems best case scenario, I am net worth breakeven at 28 years old, then it is all up from there.

Are you taking the mortgage into consideration?  If you are just considering what you own, I am probably somewhere near $150k-$175k today.

That's not how net worth works.  Only the difference between what you owe and what the property is worth is used in net worth calculations.  My net worth is in the six figures because I could liquidate my house.  If my house had Zero value but I stilled owed on the mortgage then I would have a negative net worth.
Title: Re: $100k Club
Post by: nanu on December 29, 2015, 04:24:57 PM
Hmm... I think I'll break 6 figures soon (last paycheck of the year on Dec. 31st might do it), if I haven't already.
But since I only calculate my net worth on the 1st of every month I won't know for a few more days (though I've been itching for a week to do it early...)
Title: Re: $100k Club
Post by: Exflyboy on December 29, 2015, 04:29:05 PM
Fantastic all.. it gets easier from here...:)
Title: Re: $100k Club
Post by: MSC on April 16, 2016, 05:24:21 AM
It's fun to watch it grow, even if it is mostly savings and minimal return:

(http://s23.postimg.org/qcfi7gkzv/Screen_Shot_2016_04_16_at_7_21_56_AM.png)

Our savings/investments are almost up to 100% on their own:

(http://s30.postimg.org/dhrgi0twx/Screen_Shot_2016_04_16_at_7_23_52_AM.png)
Title: Re: $100k Club
Post by: 2Birds1Stone on April 16, 2016, 06:07:23 AM
Great work MSC!!!
Title: Re: $100k Club
Post by: nanu on April 17, 2016, 08:50:57 AM
I was right, I did break $100K by January 1st, 2016 :)

See below for the full graph of my net worth, starting January 1st 2015, which is when I started tracking.
It was mostly stagnant at first - I was in college and my tutoring income was about equal to my expenses, then in March my girlfriend and I pre-paid some months of rent for the apartment we would move into after graduation so it dropped by about $10K. In July 2015 I started working full time and that's when my net worth started going steadily up.
My current goal is to reach $200K by January 1st, 2017, which I think should be doable (starting July I will begin receiving company stock, totaling about $67K this year [pre-tax, assuming current value]).

(http://i.imgur.com/dvPg7bg.png)
Title: Re: $100k Club
Post by: MSC on May 10, 2016, 04:15:30 PM
A good day put our investment accounts over $100k as of today, too!

(http://s32.postimg.org/sx4gclpid/Screen_Shot_2016_05_10_at_6_11_13_PM.png)

...and the new overall net worth:

(http://s32.postimg.org/6ezfmwew5/Screen_Shot_2016_05_10_at_6_19_17_PM.png)
Title: Re: $100k Club
Post by: lampstache on May 11, 2016, 07:55:45 AM
What programs are you using to get these fancy graphs? I love it!
Title: Re: $100k Club
Post by: 2Birds1Stone on May 11, 2016, 08:48:14 AM
What programs are you using to get these fancy graphs? I love it!

Personal Capital
Title: Re: $100k Club
Post by: Metric Mouse on May 11, 2016, 09:10:44 AM
Congrats MSC!

Now, let me tell everybody about my 'stache...
Title: Re: $100k Club
Post by: nanu on May 11, 2016, 01:29:28 PM
What programs are you using to get these fancy graphs? I love it!
I use Python to generate mine.
Not as pretty (prettier options exist, I just don't bother), but fully customizable to graph whatever the hell I want
Title: Re: $100k Club
Post by: MSC on May 11, 2016, 05:42:36 PM
What programs are you using to get these fancy graphs? I love it!
I use Python to generate mine.
Not as pretty (prettier options exist, I just don't bother), but fully customizable to graph whatever the hell I want

What I love about Personal Capital is that it graphs automatically and will give me updates with daily resolution. Sometimes this is a good thing, other times it's not.
Title: Re: $100k Club
Post by: nanu on May 12, 2016, 05:51:19 AM
What programs are you using to get these fancy graphs? I love it!
I use Python to generate mine.
Not as pretty (prettier options exist, I just don't bother), but fully customizable to graph whatever the hell I want

What I love about Personal Capital is that it graphs automatically and will give me updates with daily resolution. Sometimes this is a good thing, other times it's not.
I tried personal capital at some point, and it couldn't connect to all of my accounts.
Not to mention I have foreign ones that there's no way it would know how to handle.

Personally I like the flexibility of Python. I can graph several lines over the same plot (for example, I have one with my net worth, my girlfriend's net worth, our combined net worth, and a project "goal" net worth).
I also have graphs for my expenses, including monthly average rolling ones. So for example I can instantly see my groceries expenditure over every single month, the monthly rolling average (I have for 3, 6, and 12 months rolling periods), and cumulative expenditure since I started tracking.
Title: Re: $100k Club
Post by: icemodeled on May 12, 2016, 01:16:41 PM
Congrats! That's awesome! My husband and I are late 20s and also just recently passed this milestone! Plus paid off the house to boot! It definitely feels good, never had imagined how far we come in 6 years of marriage! (Net worth around $5-10k then) keep it up!
Title: Re: $100k Club
Post by: boarder42 on May 12, 2016, 01:29:54 PM
Very nice.  26 here.  Net worth negative for now.

Current:
Retirement $100k
Student Loans -$61k
Mortgage -$308k
Net Worth -$269k

Next Year, after selling the house and other things going on:

Retirement $115k (just assuming $10k more in 401k and $5k growth)
Student Loans -$40k
Mortgage -$225k (selling my current home now, buying cheaper)
Net Worth -$150k

Two Years,

Retirement $130k (just assuming $10k more in 401k and $5k growth)
Student Loans -$10k
Mortgage -$215k (selling my current home now, buying cheaper)
Net Worth -$95k

Granted, this doesn't include all of my belongings and the two cars I own straight up (~$20k).

It seems best case scenario, I am net worth breakeven at 28 years old, then it is all up from there.

Are you taking the mortgage into consideration?  If you are just considering what you own, I am probably somewhere near $150k-$175k today.

if you're going to include your mortgage you should include it by the equity you have in your home.  you dont have a negative networth.  either include both or include neither.  but dont count your mortgage liability with out counting your house as an asset.

so unless you're upside down it isnt counting against your networth.  either just count investments or you can include your equity.  but just including mortgage liability assumes your house is worth nothing
Title: Re: $100k Club
Post by: RWD on May 12, 2016, 01:56:44 PM
if you're going to include your mortgage you should include it by the equity you have in your home.  you dont have a negative networth.  either include both or include neither.  but dont count your mortgage liability with out counting your house as an asset.

so unless you're upside down it isnt counting against your networth.  either just count investments or you can include your equity.  but just including mortgage liability assumes your house is worth nothing

That was already pointed out a couple times in this thread, and acknowledged (http://forum.mrmoneymustache.com/ask-a-mustachian/$100k-club/msg859700/#msg859700).
Title: Re: $100k Club
Post by: boarder42 on May 12, 2016, 02:03:57 PM
gotcha i saw how old it was after i posted.
Title: Re: $100k Club
Post by: MSC on August 18, 2016, 04:37:22 PM
Another good day and the net worth is now over $150,000 and the investments are over $111,000. Ca-ching!

(https://s4.postimg.org/c56qta021/Screen_Shot_2016_08_18_at_6_34_11_PM.png) (https://postimg.org/image/c56qta021/) (https://s4.postimg.org/y5n39wiq1/Screen_Shot_2016_08_18_at_6_34_04_PM.png) (https://postimg.org/image/y5n39wiq1/)
Title: Re: $100k Club
Post by: russianswinga on August 18, 2016, 05:00:42 PM
I was late to post here as I hit $100K net worth last month.
Lo and behold, apparently the housing market is good, as I've just crossed $110K NW, and I while I've made passive investments, it was nowhere near $10K worth, the equity came directly from an increase in the value of our condo.

Age: 33 for myself and Dear Wife, 1.5 yrs for baby daughter
Income: Single income, $85K last year, will possibly break 90K this year due to overtime. IT industry
Savings rate: too embarrassing to mention. Don't worry, I do get the company match, but I'm below the $18K max 401K contribution.
FIRE target: age 53, when daughter is in college.
FIRE asset goal: $650,000 net worth. Retiring in Montenegro (http://forum.mrmoneymustache.com/throw-down-the-gauntlet/retiring-in-montenegro/), very low cost of living. Withdrawal rate: $25K / yr for 40 years in today's $. 92.5% predicted success rate in FireCalc. (http://www.firecalc.com/)
Title: Re: $100k Club
Post by: MSC on March 15, 2017, 11:43:09 AM
So close! One good day and we'll be over $200k!

(https://image.ibb.co/k0orOv/Screen_Shot_2017_03_15_at_1_47_57_PM.png)
(https://image.ibb.co/e9BpAa/Screen_Shot_2017_03_15_at_1_49_37_PM.png)
Title: Re: $100k Club (EDIT: Closer to $200k club now)
Post by: Exflyboy on March 15, 2017, 03:57:08 PM
Nice.. And just think, conditions being the same (and assuming you were NOT contributing during this period) you would go from $1M to $2M in the same amount of time..:)
Title: Re: $100k Club (EDIT: Closer to $200k club now)
Post by: Metric Mouse on March 20, 2017, 04:10:29 AM
Nice.. And just think, conditions being the same (and assuming you were NOT contributing during this period) you would go from $1M to $2M in the same amount of time..:)
Such a nice thought!