Author Topic: Four Years of Tracking Net Worth  (Read 27139 times)

LivingTheory

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Four Years of Tracking Net Worth
« on: January 25, 2014, 12:57:42 PM »
Net Worth at Year End:
2010
(18,000)
  • Woke up to the reality of my SL debt (was an oblivious 21 year old with 21,000 to repay)

2011         
25,000
  • Reduced expenses - moved in with family for 6 months to knock down SL's before getting hitched
  • Started taking the class load for which I could afford to pay cash
  • Married a wonderful SO who makes life more meaningful

2012
41,000
  • Worked as many hours as my boss would allow
  • Spent as little as possible
  • Washed, Rinsed, Repeated

2013
62,000
  • Graduated college and started working in my field. There was a slight pay increase but it wasn't much. Since we spent based on value, not income, our expenses were fixed. This allowed for some pretty high leverage, making a small pay bump into a decent savings rate increase.
  • Maxed our IRA's for the first time ever!!

1/2014
72,000
  • Made the final tuition payment for my SO's nursing program. Just a few more months and we'll be badass, frugal DINKs.

Slow and steady on an average income is difficult but seeing this progress makes it worth the struggle!  We're really doing it!! :)

  • Gross Income (respectively): $33k, $48k, $52k, $57k, ~$70k (2014 projection)

Thanks for reading and keeping us inspired when times get tough.
« Last Edit: January 25, 2014, 01:04:16 PM by LivingTheory »

oldtoyota

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Re: Four Years of Tracking Net Worth
« Reply #1 on: January 25, 2014, 01:09:34 PM »
Nice work! Are you new here? If so, welcome!

FIreDrill

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Re: Four Years of Tracking Net Worth
« Reply #2 on: January 25, 2014, 01:13:16 PM »
Nice work!  Becoming DINK's should really boost your savings power.  Keep it up!

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #3 on: January 25, 2014, 01:17:37 PM »
Thanks, I'm a long-time reader but I'm brand new to the forum ("found" it two months ago).  What a wonderful place to give and receive encouragement.

Clever Name

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Re: Four Years of Tracking Net Worth
« Reply #4 on: January 25, 2014, 03:45:25 PM »
How did you increase your net worth by $43,000 in 2011?  At the bottom of your post you said your entire gross income for that year was $48,000.  Did you really only spend $5000 that year?  What about taxes?

pac_NW

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Re: Four Years of Tracking Net Worth
« Reply #5 on: January 25, 2014, 08:19:43 PM »
Good work"

Blindsquirrel

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Re: Four Years of Tracking Net Worth
« Reply #6 on: January 26, 2014, 07:14:13 AM »
   Way to go. That is Bad Ass. You have your stuff together and will be a millionaire before you know it.

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #7 on: January 26, 2014, 10:25:46 AM »
How did you increase your net worth by $43,000 in 2011?  At the bottom of your post you said your entire gross income for that year was $48,000.  Did you really only spend $5000 that year?  What about taxes?
The reason for the large jump is two-fold...
  • I was fortunate enough to marry someone with a positive NW - roughly 14,000
  • Moving home for a few months allowed me to save nearly 25,000 that year
I wish it was a sustainable pace but it's undoubtedly the outlier in the group.
« Last Edit: January 26, 2014, 10:33:10 AM by LivingTheory »

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #8 on: January 26, 2014, 10:31:12 AM »
   Way to go. That is Bad Ass. You have your stuff together and will be a millionaire before you know it.

Thank you, that will be unbelievable if it ever happens. Hopefully our FI number stays well below the big M so reaching that threshold can be icing on the cake.

MrFrugalChicago

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Re: Four Years of Tracking Net Worth
« Reply #9 on: January 26, 2014, 12:23:05 PM »
To be fair, if you add in your wives NW from what she brought into marriage, you need to divide your NW by 2, because if something bad does happen - half your NW will go bye bye. Net work per person is a more valid measurement anyway, as a single guy can get by with a smaller stash compared to a married couple (not 50%, but maybe 70%)

greenmimama

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Re: Four Years of Tracking Net Worth
« Reply #10 on: January 26, 2014, 12:30:12 PM »
Great job!

I figure our net worth as a couple, but maybe that is because we chose for me to stay home with the kids. If anything ever happened, then yes it would divide, but that is not the plan.

MrFrugalChicago

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Re: Four Years of Tracking Net Worth
« Reply #11 on: January 26, 2014, 12:32:46 PM »
Great job!

I figure our net worth as a couple, but maybe that is because we chose for me to stay home with the kids. If anything ever happened, then yes it would divide, but that is not the plan.

Tis never the plan, but I would account for it in my math ;)

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #12 on: January 27, 2014, 06:34:20 PM »
To be fair, if you add in your wives NW from what she brought into marriage, you need to divide your NW by 2, because if something bad does happen - half your NW will go bye bye. Net work per person is a more valid measurement anyway, as a single guy can get by with a smaller stash compared to a married couple (not 50%, but maybe 70%)

Thanks for the comment but I don't really see a need for this on my spreadsheet. If happily ever after does end up being finite then the financial burden of divorce would become a reality. But presently it's not something that I feel I could adequately calculate or would want to see. I'm focused on our life together - my SO and future children are a huge motivator for my frugal self - so adding a post-divorce column to my tracking sheet would just bum me out.

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« Reply #13 on: January 27, 2014, 10:22:41 PM »
great work well done.

have you done a 10-year plan for early retirement?

LivingTheory

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Re: .
« Reply #14 on: January 28, 2014, 04:08:32 PM »
great work well done.

have you done a 10-year plan for early retirement?

I've done an analysis to check the possibility of ER and I think we're about 20 years away.

Phoebe

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Re: Four Years of Tracking Net Worth
« Reply #15 on: January 28, 2014, 04:31:56 PM »
Awesome job!! Congratulations!!!

AtlStash

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Re: Four Years of Tracking Net Worth
« Reply #16 on: January 29, 2014, 02:02:41 PM »
Good Job! Keep it up, it will start to snowball.  We didn't start tracing until 2010 but here is ours.
1/2010 $308k Wife and I both worked ~$110k Gross
1/2011 $370k Wife worked until October then quite to take care of our Daughter
1/2012 $400k
1/2013 $428k $28k improvement even after buying a Non-Mustachian but used Chevy Traverse ~$30k with cash.
1/2014 $465k "Bad year", both A/C units died, new tires on the traverse. Blew thru $14k in savings. Bad, but when you are prepared you can absorb some problems without going into debt.

When we were married in 2006 we were negative, I had a car loan and student loans. We put most extra into paying that off. Since we were DINKs, it did not take too long. Now our only debts are the 2 mortgages we hold for our home and a rental property. We are still on my one income (~$87k), putting 18% (with match) into 401k plus saving another 5.5% each month. We are still not very mustachian in many ways but we are finding new ways to trim our budget every month.  Next month we are starting to improve our energy efficiency by air sealing our attic.





LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #17 on: February 01, 2014, 07:18:47 AM »
Awesome job!! Congratulations!!!

Thanks! It's nice to publicly state what's been such a private, quiet journey. There have been times I've wanted to grab a friend and tell them about a milestone we reached but I've just kept it to myself.

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #18 on: February 01, 2014, 07:22:14 AM »
Good Job! Keep it up, it will start to snowball.  We didn't start tracing until 2010 but here is ours.
...
1/2014 $465k "Bad year", both A/C units died, new tires on the traverse. Blew thru $14k in savings. Bad, but when you are prepared you can absorb some problems without going into debt.

Wow! You're just a matter of months from HALF A MILLION BUCKS.  Way to go!  Mind if I ask how old you are?

Zaga

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Re: Four Years of Tracking Net Worth
« Reply #19 on: February 01, 2014, 07:35:13 AM »
You're doing a great job there!  I've been tracking since 2007, and it's really cool to see that number going up.  Since everyone does their calculation differently, mine is retirement assets minus debts only, I left out the 100% equity in the house and savings accounts etc.  (just how I like to do it, not trying to change anyone's mind on this one :-)  )

1/1/2007    $(114,000)
1/1/2008    $(108,000)
1/1/2009    $(71,859)
1/1/2010    $(37,803)
1/1/2011    $339
1/1/2012    $3,303
1/1/2013    $54,508
1/1/2014    $130,727

Since January of 2012 we've started to pick up steam!


AndrewJackson

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Re: Four Years of Tracking Net Worth
« Reply #20 on: February 02, 2014, 11:20:16 AM »
These and other frugal sites are a double edge sword. On the one hand, I get inspired to cut expenses/invest/repeat. On the other, looking at how efficient some other people are at saving makes me reminisce over my own mistakes and also gets me comparing myself to others who are in completely different situations. I have to remind myself that it is not a race and that If I retire by 40 (currently 23), it is not the end of the world. In fact, If my wife and I accomplished this feat, we would have a lifetime of freedom and experience ahead of us that very few get to have.


AtlStash

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Re: Four Years of Tracking Net Worth
« Reply #21 on: February 02, 2014, 01:04:53 PM »
LivingTheory, I am 37.  Like I said, my Wife and I started saving in 2006. If we had both been saving since we first entered the workforce, we would be FI by now. Wow! Never thought of it that way, ouch.  We still have a long way to go. We would like to have $1.5MM to retire. 

Keep up the good work.

soccerluvof4

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Re: Four Years of Tracking Net Worth
« Reply #22 on: February 05, 2014, 01:52:31 PM »
Congrats!

Zaga, thats a heck of a turnaround as well!!!

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #23 on: February 13, 2014, 09:14:57 AM »
You're doing a great job there!  I've been tracking since 2007, and it's really cool to see that number going up.  Since everyone does their calculation differently, mine is retirement assets minus debts only, I left out the 100% equity in the house and savings accounts etc.  (just how I like to do it, not trying to change anyone's mind on this one :-)  )

1/1/2007    $(114,000)
1/1/2008    $(108,000)
1/1/2009    $(71,859)
1/1/2010    $(37,803)
1/1/2011    $339
1/1/2012    $3,303
1/1/2013    $54,508
1/1/2014    $130,727

Since January of 2012 we've started to pick up steam!

That's one heck of an improvement!! I hope you've cracked open a beer lately, you deserve one.

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #24 on: February 13, 2014, 09:20:08 AM »
Thanks for all the kind words. They're motivating.

I just want to share a milestone we reached last week:

For the first time, the maximum contribution amount has been added to BOTH Roth IRA's.

rockstache

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Re: Four Years of Tracking Net Worth
« Reply #25 on: February 13, 2014, 09:35:06 AM »
looking at how efficient some other people are at saving makes me reminisce over my own mistakes

If you're 23 and already acknowledging that you have past mistakes and trying to better your furture, you are already in a better position than most people (including many of the ones here). 

nicknageli

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Re: Four Years of Tracking Net Worth
« Reply #26 on: February 13, 2014, 09:40:07 AM »
If you're 23 and already acknowledging that you have past mistakes and trying to better your furture, you are already in a better position than most people (including many of the ones here).

Very true!  Way to go!

Zaga

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Re: Four Years of Tracking Net Worth
« Reply #27 on: February 13, 2014, 12:14:21 PM »
You're doing a great job there!  I've been tracking since 2007, and it's really cool to see that number going up.  Since everyone does their calculation differently, mine is retirement assets minus debts only, I left out the 100% equity in the house and savings accounts etc.  (just how I like to do it, not trying to change anyone's mind on this one :-)  )

1/1/2007    $(114,000)
1/1/2008    $(108,000)
1/1/2009    $(71,859)
1/1/2010    $(37,803)
1/1/2011    $339
1/1/2012    $3,303
1/1/2013    $54,508
1/1/2014    $130,727

Since January of 2012 we've started to pick up steam!

That's one heck of an improvement!! I hope you've cracked open a beer lately, you deserve one.
Thanks, I couldn't be more pleased with our progress.  I started out dragging DH along, and now he participates with cutting expenses and saving money, that makes a huge difference having us both going the same way!

clarkfan1979

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Re: Four Years of Tracking Net Worth
« Reply #28 on: February 15, 2014, 06:22:16 AM »
2010 (age 30): approximately -10,000 (full-time grad school)
2011 (age 31): approximately even (graduated grad school)
2012 (age 32): approximately 50,000 (got married)
2013 (age 33): approximately 85,000
2014 (age 34): 142,000

* I bought one foreclosure in 2007 and a second foreclosure in 2012. I'm counting appreciation for both of them. One is a rental. The other is our primary house, which will most likely be a rental in 1-2 years. I'm a University prof and I will most likely be changing schools in the near future for more money. I interviewed at two schools last year in which my salary would have doubled. I didn't get either job, but I think it should happen in the next 1-2 years, along with a 50% - 100% raise. I started out real slow because of graduate studies, but I'm confident that I can pick up the pace in the near future.

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #29 on: September 09, 2014, 08:18:16 PM »
Net Worth at Year End:
2010
(18,000)
  • Woke up to the reality of my SL debt (was an oblivious 21 year old with 21,000 to repay)

2011         
25,000
  • Reduced expenses - moved in with family for 6 months to knock down SL's before getting hitched
  • Started taking the class load for which I could afford to pay cash
  • Married a wonderful SO who makes life more meaningful

2012
41,000
  • Worked as many hours as my boss would allow
  • Spent as little as possible
  • Washed, Rinsed, Repeated

2013
62,000
  • Graduated college and started working in my field. There was a slight pay increase but it wasn't much. Since we spent based on value, not income, our expenses were fixed. This allowed for some pretty high leverage, making a small pay bump into a decent savings rate increase.
  • Maxed our IRA's for the first time ever!!

1/2014
72,000
  • Made the final tuition payment for my SO's nursing program. Just a few more months and we'll be badass, frugal DINKs.

Slow and steady on an average income is difficult but seeing this progress makes it worth the struggle!  We're really doing it!! :)

  • Gross Income (respectively): $33k, $48k, $52k, $57k, ~$70k (2014 projection)

Thanks for reading and keeping us inspired when times get tough.

Update:

9/2014
89,800
  • Income is on pace to hit $74k by year end
  • Stock losses cost us $6k in the Spring
  • Outside chance to hit $100k this year, $95-98k is more likely
  • SO starts a new job next month - annual income bump to $99k
Goals
  • Focus more on our relationship now that life has slowed down and we're financially stable
  • By Age 30: Purchase a home; $200k in retirement accounts; $300k Net Worth; remain DINKs?
  • Keep annual expenses at current level ($26.5k) for as long as possible
« Last Edit: September 09, 2014, 08:24:17 PM by LivingTheory »

arebelspy

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Re: Four Years of Tracking Net Worth
« Reply #30 on: September 09, 2014, 08:31:03 PM »
Thanks for the update!

By Age 30: Purchase a home; $200k in retirement accounts; $300k Net Worth; remain DINKs?

You're what, 25-ish (based on the 2010 net worth sentence)?  That seems totally doable based on where you're at and where you're headed, which is incredible!  Most 30-year olds would love to be in that position!

Keep annual expenses at current level ($26.5k) for as long as possible

That's a great goal!  Love it.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, 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.

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #31 on: September 09, 2014, 08:38:29 PM »
Thanks for the update!

By Age 30: Purchase a home; $200k in retirement accounts; $300k Net Worth; remain DINKs?

You're what, 25-ish (based on the 2010 net worth sentence)?  That seems totally doable based on where you're at and where you're headed, which is incredible!  Most 30-year olds would love to be in that position!

Correct, I'm 25! Good ole quarter century.

I'm really hoping it's doable, I see us stashing $50k/year in tax advantaged accounts for the foreseeable future. The biggest hurdles are the unknown cost of shelter and continuous employment. Here's to hoping DW's new gig has a generous 401(k) match.

arebelspy

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Re: Four Years of Tracking Net Worth
« Reply #32 on: September 09, 2014, 09:06:31 PM »
Thanks for the update!

By Age 30: Purchase a home; $200k in retirement accounts; $300k Net Worth; remain DINKs?

You're what, 25-ish (based on the 2010 net worth sentence)?  That seems totally doable based on where you're at and where you're headed, which is incredible!  Most 30-year olds would love to be in that position!

Correct, I'm 25! Good ole quarter century.

I'm really hoping it's doable, I see us stashing $50k/year in tax advantaged accounts for the foreseeable future. The biggest hurdles are the unknown cost of shelter and continuous employment. Here's to hoping DW's new gig has a generous 401(k) match.

Apparently I could have just looked under your avatar.  Heh.

Well that's a phenomenal start, and well on track for FI by 35-40, decades before traditional retirement.

What subject do you teach?
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, 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.

G-dog

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Re: Four Years of Tracking Net Worth
« Reply #33 on: September 10, 2014, 06:05:55 AM »
It's amazing that you increased your NW by $90000 in 4 years WHILE going to school (a big expense).  That is f'ing awesome and inspiring.

G-dog

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Re: Four Years of Tracking Net Worth
« Reply #34 on: September 10, 2014, 06:09:28 AM »
You're doing a great job there!  I've been tracking since 2007, and it's really cool to see that number going up.  Since everyone does their calculation differently, mine is retirement assets minus debts only, I left out the 100% equity in the house and savings accounts etc.  (just how I like to do it, not trying to change anyone's mind on this one :-)  )

1/1/2007    $(114,000)
1/1/2008    $(108,000)
1/1/2009    $(71,859)
1/1/2010    $(37,803)
1/1/2011    $339
1/1/2012    $3,303
1/1/2013    $54,508
1/1/2014    $130,727

Since January of 2012 we've started to pick up steam!

Almost $250000 increase in 7 years!  Excellent! And nice inflection point in 2012.

Zaga

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Re: Four Years of Tracking Net Worth
« Reply #35 on: September 11, 2014, 09:49:46 AM »
It's amazing that you increased your NW by $90000 in 4 years WHILE going to school (a big expense).  That is f'ing awesome and inspiring.
You're right, that is extremely awesome!

And thanks, it really puts it in perspective when I see that we are up so much in net worth in 7 years, especially since 2011 didn't see any increase to speak of at all!  Debt was added that year, we didn't stop investing.

hybrid

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Re: Four Years of Tracking Net Worth
« Reply #36 on: September 11, 2014, 03:25:28 PM »
These and other frugal sites are a double edge sword. On the one hand, I get inspired to cut expenses/invest/repeat. On the other, looking at how efficient some other people are at saving makes me reminisce over my own mistakes and also gets me comparing myself to others who are in completely different situations. I have to remind myself that it is not a race and that If I retire by 40 (currently 23), it is not the end of the world. In fact, If my wife and I accomplished this feat, we would have a lifetime of freedom and experience ahead of us that very few get to have.

Ahhhhhhh.... to be 23 again. Dude, unless those are some big-ass serious mistakes, you have a boatload of time ahead of you to let compound interest do its magic. I'm betting you will be just fine. No, retiring at 40 instead of 33 won't be the end of the world indeed.... ;-)

If it helps, my 26 year old daughter and I share all of our financial info. As you might expect, we are way ahead of her financially. I remind her that she is way ahead of me financially when I was 26, so there is no reason to think she shouldn't exceed our efforts quite handily by the time 21 years of compounding kicks in.

clarkfan1979

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Re: Four Years of Tracking Net Worth
« Reply #37 on: September 12, 2014, 12:06:05 PM »
2010 (age 30): approximately -10,000 (full-time grad school)
2011 (age 31): approximately even (graduated grad school)
2012 (age 32): approximately 50,000 (got married)
2013 (age 33): approximately 85,000
2014 (age 34): 142,000

* I bought one foreclosure in 2007 and a second foreclosure in 2012. I'm counting appreciation for both of them. One is a rental. The other is our primary house, which will most likely be a rental in 1-2 years. I'm a University prof and I will most likely be changing schools in the near future for more money. I interviewed at two schools last year in which my salary would have doubled. I didn't get either job, but I think it should happen in the next 1-2 years, along with a 50% - 100% raise. I started out real slow because of graduate studies, but I'm confident that I can pick up the pace in the near future.

7 months later and we are at 205,000. I started using Mint in March. I have always kept track of my networth with excel sheets of different accounts. However, mint makes it so much easier and competitive. This might not make much sense, but I've been more aggressive with paying off my student loans since having my mint account. When I make a payment, my net worth goes up because my debt goes down. When I would make a payment before mint, it would just go bye-bye and I didn't seem to get any reward from it.

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #38 on: September 13, 2014, 08:30:56 AM »
Mind if we add another layer of detail to the thread by discussing distribution of funds?

At week end we are down to $89,000 in Assets (markets are down and we paid some large-ish bills) and $0 in Liabilities. Of this amount, there is the following breakdown:

Current (9/12/2014)

Retirement (Roth): $30,250
Retirement (Trad): $10,250
Brokerage:            $5,900
HSA:                     $2,500
Cash:                    $40,100

Net Worth :           $89,000

Year End 2014

Retirement (Roth): $39,000
Retirement (Trad): $14,000
Brokerage:            $5,900
HSA:                     $2,800
Cash:                    $40,100

Net Worth:            $101,800

Our plan for the coming year, given DW's new gig, is to drop $17,500 into her 401(k), $12,500 into my 401(k), and $5,500 into both IRA's. This would all be pre-tax. Employer match would also add $2,500.

My company's policies don't allow for my contribution to reach the full $17,500 so we can only drop $41,000 into retirement accounts. This falls $9,000 short of our projected "investable income" so the excess funds will be routed to HSA's and brokerage accounts.

Year End 2015

Retirement (Roth): $39,000
Retirement (Trad): $57,500
Brokerage:            $12,000
HSA:                     $6,000
Cash:                    $40,000

Net Worth:            $154,500

Am I missing anything with this plan?  I want to make sure we're allocating our income wisely.
« Last Edit: September 13, 2014, 08:36:17 AM by LivingTheory »

ender

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Re: Four Years of Tracking Net Worth
« Reply #39 on: September 13, 2014, 08:38:48 AM »
I shouldn't read some of the net worth gains/year other people have lol.

Though mine have been pretty nice too I guess.

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #40 on: September 13, 2014, 08:40:04 AM »
It's amazing that you increased your NW by $90000 in 4 years WHILE going to school (a big expense).  That is f'ing awesome and inspiring.

There's definitely something to be said for having a frugal SO and common goals.

G-dog

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Re: Four Years of Tracking Net Worth
« Reply #41 on: September 13, 2014, 01:10:35 PM »
Your Roth accounts are Roth 401k (listed as retirement)? So you don't have separate Roth account(s)? Worth doing?

LivingTheory

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Re: Four Years of Tracking Net Worth
« Reply #42 on: September 13, 2014, 07:56:50 PM »
Your Roth accounts are Roth 401k (listed as retirement)? So you don't have separate Roth account(s)? Worth doing?

It's a combination of three Roth accounts: 401(k) and two IRA's. Planning to open Traditional IRA's next year as well.

Zaga

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Re: Four Years of Tracking Net Worth
« Reply #43 on: September 14, 2014, 09:14:31 AM »
Your Roth accounts are Roth 401k (listed as retirement)? So you don't have separate Roth account(s)? Worth doing?

It's a combination of three Roth accounts: 401(k) and two IRA's. Planning to open Traditional IRA's next year as well.
Just remember that the total amount contributed to all IRA's is $5,500.  You can contribute to both, but only $5,500 total.

mbk

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Re: Four Years of Tracking Net Worth
« Reply #44 on: September 15, 2014, 07:02:30 PM »
Net Worth at Year End:
2010
(18,000)
  • Woke up to the reality of my SL debt (was an oblivious 21 year old with 21,000 to repay)

2011         
25,000
  • Reduced expenses - moved in with family for 6 months to knock down SL's before getting hitched
  • Started taking the class load for which I could afford to pay cash
  • Married a wonderful SO who makes life more meaningful

2012
41,000
  • Worked as many hours as my boss would allow
  • Spent as little as possible
  • Washed, Rinsed, Repeated

2013
62,000
  • Graduated college and started working in my field. There was a slight pay increase but it wasn't much. Since we spent based on value, not income, our expenses were fixed. This allowed for some pretty high leverage, making a small pay bump into a decent savings rate increase.
  • Maxed our IRA's for the first time ever!!

1/2014
72,000
  • Made the final tuition payment for my SO's nursing program. Just a few more months and we'll be badass, frugal DINKs.

Slow and steady on an average income is difficult but seeing this progress makes it worth the struggle!  We're really doing it!! :)

  • Gross Income (respectively): $33k, $48k, $52k, $57k, ~$70k (2014 projection)

Thanks for reading and keeping us inspired when times get tough.

Solid job. Your numbers are impressive considering your income.
I started tracking at the end of 2010 after I graduated.

Year: Networth
2010: -$48k
2011: -$14.5k
2012: $8k
2013: $37k
2014: $125k (expected)

 In 2014, my networth will grow by more than my income.

arebelspy

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Re: Four Years of Tracking Net Worth
« Reply #45 on: September 15, 2014, 08:07:00 PM »
In 2014, my networth will grow by more than my income.

THAT is a badass moment.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, 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.

Overseas Stache

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Re: Four Years of Tracking Net Worth
« Reply #46 on: September 16, 2014, 03:31:44 AM »
7 months later and we are at 205,000. I started using Mint in March. I have always kept track of my networth with excel sheets of different accounts. However, mint makes it so much easier and competitive. This might not make much sense, but I've been more aggressive with paying off my student loans since having my mint account. When I make a payment, my net worth goes up because my debt goes down. When I would make a payment before mint, it would just go bye-bye and I didn't seem to get any reward from it.

I completely agree, Mint caused me to pay off my student loans. I had a couple thousand still sitting around at 5% interest that I was just auto-paying and forgetting about. But as soon as I opened a Mint account I saw the visualization and decided I just needed to pay it off. I paid it in full the next day and kept checking Mint waiting for the accounts to update.

gecko10x

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Re: Four Years of Tracking Net Worth
« Reply #47 on: September 16, 2014, 04:40:23 AM »
In 2014, my networth will grow by more than my income.

THAT is a badass moment.

How is that possible at such a (relatively) low NW?

arebelspy

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Re: Four Years of Tracking Net Worth
« Reply #48 on: September 16, 2014, 07:25:29 AM »
In 2014, my networth will grow by more than my income.

THAT is a badass moment.

How is that possible at such a (relatively) low NW?

There's a few ways, but simplest explanation is very low spending, and market returns > spending.  A 10% market upswing on 100k = 10k. Spend less than that and you're there.  If you are spending that low, your money is going to compound very, very rapidly as you essentially save all of your paycheck.
« Last Edit: September 16, 2014, 07:28:52 AM by arebelspy »
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, 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.

gecko10x

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Re: Four Years of Tracking Net Worth
« Reply #49 on: September 16, 2014, 10:18:53 AM »
In 2014, my networth will grow by more than my income.

THAT is a badass moment.

How is that possible at such a (relatively) low NW?

There's a few ways, but simplest explanation is very low spending, and market returns > spending.  A 10% market upswing on 100k = 10k. Spend less than that and you're there.  If you are spending that low, your money is going to compound very, very rapidly as you essentially save all of your paycheck.

I guess I feel like I'm so far from that inflection point that it didn't occur to me that that was the answer :-p