Author Topic: Another net worth milestone  (Read 10100 times)

Zaga

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Another net worth milestone
« on: July 12, 2013, 10:27:11 AM »
I measure invested assets minus debts as net worth, and this week we hit $100K!  It was just 7 months ago that we hit $50K, amazing!  The growth this year has been a combination of investing, investment growth, and debt paydown.

Anyone else met any cool milestones?  I just love reading about these!
« Last Edit: July 12, 2013, 12:23:28 PM by Zaga »

cbr shadow

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Re: Another net worth milestone
« Reply #1 on: July 12, 2013, 10:38:12 AM »
My wife and I went from a negative Net Worth 2 years ago up to a positive $20k by the start of 2012.  Then from 2012 to 2013 we got up to $70k (found MMM in August of 2012).  We started this year at $70k and are now at $113k !  We're on track for ~$150k this year for a $80k increase!
It is fun to read through these networth posts - keep them coming!
Include your "Net Worth Increase" goal for 2013

Zaga

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Re: Another net worth milestone
« Reply #2 on: July 12, 2013, 12:26:30 PM »
Good idea!

My original net worth increase goal for 2013 was $52,000, which is $1,000 higher than the increase in 2012.  I had not expected the huge gains in the stock market that have happened so far in 2013!

Now I don't know what to shoot for really, it all depends on what the stock market does.  I DO have a goal for total debt to be down to about $62K by the end of the year, down from a record high of $133K in 2007.  The other goal is to contribute at least $24K to retirement vehicles, that is under my control unlike the stock market!

olivia

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Re: Another net worth milestone
« Reply #3 on: July 12, 2013, 01:00:31 PM »
Congratulations!  I know, the stock market has been crazy!   I can't wait until we hit that milestone-we're at $77k right now, so we're inching up there!

Michelle119

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Re: Another net worth milestone
« Reply #4 on: July 12, 2013, 08:07:24 PM »
Congratulations! We are nearing the $100k mark soon as well.

Cottonwood28

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Re: Another net worth milestone
« Reply #5 on: July 13, 2013, 09:00:05 PM »
Congrats! We recently hit that and something about six digits was awesome.

2527

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Re: Another net worth milestone
« Reply #6 on: July 14, 2013, 05:53:44 AM »
Congrats! 

superheropunk

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Re: Another net worth milestone
« Reply #7 on: July 16, 2013, 01:31:45 PM »
Something happens after $100k and money seems to grow faster. Yahoo!

Phoebe

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Re: Another net worth milestone
« Reply #8 on: July 16, 2013, 01:51:20 PM »
Whoohoo!! Way to go!  We hit $400K in June (exactly 2 years after we got married at age 27 with $20K in the bank) and we hope to hit $500K by the end of this year!

AlmostIndependent

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Re: Another net worth milestone
« Reply #9 on: July 18, 2013, 10:06:47 AM »
I just hit $750k. I've only told that to one other person. It's nice to have a place to share things like this, I'm excited to be here.

For those of you just hitting the early milestones ($50k, $100k, etc) keep up the good work and don't get discouraged. The big numbers come fast. It seems like yesterday I was graduating college with $1,000 in the bank and $11,000 of student loans.
« Last Edit: July 18, 2013, 10:13:47 AM by AlmostIndependent »

arebelspy

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Re: Another net worth milestone
« Reply #10 on: July 18, 2013, 11:16:39 AM »
Man, 750k by age 32!  They must pay you well up there in Alaska, catching whales, or catching oil, or spying on Russia from your house or whatever.  Well done. 
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

aaronpct

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Re: Another net worth milestone
« Reply #11 on: July 18, 2013, 12:25:22 PM »
Congrats!! 

I'm one of the ones getting started this year and very much looking forward to growing my own army of green employees!

Zaga

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Re: Another net worth milestone
« Reply #12 on: July 18, 2013, 12:28:33 PM »
Way to go AI!

zinnie

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Re: Another net worth milestone
« Reply #13 on: July 18, 2013, 02:47:34 PM »
Congrats, OP! That's a huge milestone.

Every 100K are the milestones I celebrate, and it's amazing how fast the next one keeps coming.

cdub

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Re: Another net worth milestone
« Reply #14 on: July 18, 2013, 03:11:46 PM »
I measure invested assets minus debts as net worth, and this week we hit $100K!  It was just 7 months ago that we hit $50K, amazing!  The growth this year has been a combination of investing, investment growth, and debt paydown.

Anyone else met any cool milestones?  I just love reading about these!

Are you including home equity?

KMMK

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Re: Another net worth milestone
« Reply #15 on: July 18, 2013, 07:52:32 PM »
Just did the 2nd quarter net worth calculation and we've passed $300,000. Did some rough projections and it should only be another 7 years of full time work. Since I also just passed my 7 year anniversary at my current job, it's all downhill now. Very exciting. I can't wait to show DH.

Zaga

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Re: Another net worth milestone
« Reply #16 on: July 19, 2013, 07:04:58 AM »
I measure invested assets minus debts as net worth, and this week we hit $100K!  It was just 7 months ago that we hit $50K, amazing!  The growth this year has been a combination of investing, investment growth, and debt paydown.

Anyone else met any cool milestones?  I just love reading about these!

Are you including home equity?
Nope, I clearly stated that I only include invested assets minus debts.  I ignore what I consider to be consumption items like cars and the house.

Also, I have NO idea what our house is worth.  Really.  None.  We live in a small town that has something like 10% vacancy in housing, plus we have a completely unique house.  Also, DH inherited this house, so I will only be able to drag him out of here when he's dead, if then.  Since we will never sell and it doesn't earn us money I find including it in net worth irrelevant.

Now, having no mortgage DOES lower our expenses, so in that way the amount we will need for retirement income is lowered.  I base ER projections on investible assets and expenses only.

Anyways, that's my logic, others feel differently.  No one system is for everyone.

scarab007

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Re: Another net worth milestone
« Reply #17 on: July 26, 2013, 02:48:30 PM »
Nice job! I remember 100k like yesterday and it is a good feeling.  The real growth starts coming and it's fun!

Michelle119

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Re: Another net worth milestone
« Reply #18 on: July 27, 2013, 08:40:16 PM »
Just wanted to update I hit $100k this weekend after I saw a news article that made me look at my house's value. We bought April 2012 and we are up almost 15% since then. I was hoping to hit $100k by the end of the year, I guess my new goal will be $125k.

tpozywio

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Re: Another net worth milestone
« Reply #19 on: July 29, 2013, 07:42:40 AM »
260k, just bought a house (unfortunately quite big, prior to finding this site)   so my savings rate will decrease slightly, but I'm working on capping the exploding volcano of waste that was my life

steveo

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Re: Another net worth milestone
« Reply #20 on: July 29, 2013, 03:01:42 PM »
I suppose myself and my wife have about $580k if the house is included. The thing is I'm inclined not to include my house and then we really have -ve worth. Retirement funds of about $180k with a mortgage of $200k.

Our wealth is basically all in the house. We are looking to pay it off within say 4 years (at our current savings rate it will be 3 1/2 years).

So to me I'm in the hole about $20k and in reality I don't even want to consider my super until the house is paid off. So at the moment I view myself as having to get rid of the mortgage which is a $200k debt.

I should add I live in Australia where we have expensive houses, a mortgage rate of 6%, no tax benefits from paying a mortgage and no fixed 30 year home loans.

ikea4532

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Re: Another net worth milestone
« Reply #21 on: August 07, 2013, 07:14:11 AM »
I have just started my mustachian lifestyle; Road my bike in to work this week! the misses and I usually carpool, as I do not have a car. The misses is into the me, me, me lifestyle, or the MeMeMe; whereas I am and have always been a MMM! I do not like vehicles, on the one hand I am very accident prone in them, I basically do not like to brake! okay enough about that, this is a milestone forum! My goal is to retire when I am 50, I have 15 years to do so. I will get a pension so my numbers are scewed! I only need $300,000 earning 10% for FI, I have 5,000 earning 14% from Peer to Peer lending, and putting $500 a month into it now. I have another 40,000 into 401K, and I will be placing $250 per month into Vangaurd starting next month. Since I live with an anti-mustachian, well I have set up what I need to retire. She does not like it, she feels like I will waste my life if I do not work until full retirement, blah, blah, blah... We have one 6 month old, and that is all we are going to have! I successfully managed to win that arguement. So, my milestone is not anything other than starting the bike ride to frugality and badassity! I love it and I will continue to do it!

AJDZee

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Re: Another net worth milestone
« Reply #22 on: August 07, 2013, 09:12:28 AM »
Congrats on the milestone!

I just found MMM in June, so essentially I'm just starting off. I recently hit my first milestone $50k net worth (I don't include home equity), it took me 6 freakin' years to hit 50k. Even with my increased savings rate I'm not going to hit $100k until 2016.

I read people saying don't be discouraged when starting out, but I'm pretty discouraged at the moment. FIRE isn't meant for single people.

AlmostIndependent

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Re: Another net worth milestone
« Reply #23 on: August 07, 2013, 10:15:05 AM »
FIRE isn't meant for single people.

I'm going to have to go ahead and disagree with you on that. 2 incomes certainly helps but I did it all by myself. Just keep saving and investing. The second 50k will come a little faster and the next 50k faster still.

In some ways being single is easier. You can cut your spending however you see fit. No one to consult or get mad at you because you don't want to spend on something thats important to them.

AJDZee

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Re: Another net worth milestone
« Reply #24 on: August 07, 2013, 11:46:19 AM »
FIRE isn't meant for single people.

I'm going to have to go ahead and disagree with you on that. 2 incomes certainly helps but I did it all by myself. Just keep saving and investing. The second 50k will come a little faster and the next 50k faster still.

In some ways being single is easier. You can cut your spending however you see fit. No one to consult or get mad at you because you don't want to spend on something thats important to them.

cudos to you building $750k over one of the worst investment periods in history on your own. I am very jealous.

nofool

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Re: Another net worth milestone
« Reply #25 on: August 07, 2013, 01:19:49 PM »
AJD, I know it feels like AI's investments are lightyears ahead. But everyone goes at their own pace. I totally feel the impatience and discouragement at times, since I'm single and making an average salary, while there are many high income earners on this forum. But I have to remind myself that this isn't a race - there isn't just one prize. We all define financial independence a little differently. Keep your eyes on your prize, not someone else's.

AlmostIndependent

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Re: Another net worth milestone
« Reply #26 on: August 07, 2013, 02:38:48 PM »
It does seem far off but I am here to tell you that it goes faster and faster and then before you know it BAM! you're fucking retired. I graduated college a decade ago, in those years I spent one 10 month stretch without an actual job, got divorced and a handful of other things that aren't fun and are really shitty for your net worth. I have a pretty decent job now, but that hasn't always been the case. Just save, invest, and have as much fun as possible (that last one is fucking important.) If you can do those 3 things you will be FI before you know it. Try not to stress about it or worry about how far away it is. You'll get there, I promise.