The Money Mustache Community
General Discussion => Share Your Badassity => Topic started by: Honest Abe on February 15, 2013, 03:47:54 AM
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Finally crossed $300k n.w. today... It was a long time coming.. It seemed like every time I got close Zillow pulled the football away Lucy-style by lowering my property value. I feel at this point we're stable and above the $300k mark, which is a nice feeling.
Also, we crossed $200k in investments.... I've been socking away aggressively into our 457s ($26.6k annually) and been good about sweeping our cash into index funds. We keep a pretty high cash threshold in our saving account, but DW is super-cautious and she sleeps better having a sizable emergency fund that can survive a zombie attack.
Anyhow... Cheers, and thank you for all of the encouragement MMMers!
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Congratulations!!!
So nice to see the discipline pay off.
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Congratulations, maybe one day in the not too far future I'll have a similar nest egg. :)
Edit- Typo
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Congrats. Love the Zillow-Lucy image. :)
You'll be FIRE'd before you know it!
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Congratulations! I finally passed $100k the other day, also due to an increase in property value. I feel like $200k is very, very far away though.
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Awesome. My wife should be crossing that same mark by the end of year. I finally convinced her charter school to add a 457 plan (hopefully) It is supposedly coming in May.
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Awesome job! I'm hoping we'll hit $100K net worth by the end of this year, I love those big round milestones!
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That is awesome! Congratulations! I am just barely over the $100K milestone. And I agree, Zillow has not been my friend in mint.com. With everything I've done and have been doing, Zillow seems to cheerfully erase it every time it updates. AAAAARRRRGH, as Charlie Brown would say. :)
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AWESOME JOB!!!! Congratulations!!!!! wooo!
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That is awesome! Congratulations! I am just barely over the $100K milestone. And I agree, Zillow has not been my friend in mint.com. With everything I've done and have been doing, Zillow seems to cheerfully erase it every time it updates. AAAAARRRRGH, as Charlie Brown would say. :)
My solution to this problem is to not tell mint about my property values. I use mint to track my invested net worth outside of housing and cars and such, on the assumption that these are fixed costs. I don't intend to ever sell a house, so why would the property value be relevant to me?
Especially in times of falling property values, it helps me to focus on what I can (sort of) control. When the house is paid off and I no longer have a mortgage payment, my expenses will go down but my net worth, as figured this way, will not change.
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Congrats! I love when mint hits milestones.
I also don't put zillow in my Mint. It stresses me out to see so much change, when the only house value number that matters is what I sell it for in the very far future.
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I don't intend to ever sell a house, so why would the property value be relevant to me?
Thought the same thing for a while. But realized it may be useful just for the fact that the equity is often tappable for HELOCs if you wanted some quick short term cash. (For me, that may very well be useful if I want to buy a SFR w/ cash, and then take out financing on it later, etc)
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Yeah, I could remove it from mint. But I like counting the equity. Being a hair over $100K gives my inner mustache voice a posh Violet Crawley sort of accent. :) Oh good gracious, zillow, REAH-lly.
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As far as I know we don't have Zillow here. I track the value of my condo manually by going to almost every open house in my building. I only compare to my own buidling as it's fairly unique, being 40 years old while tons of new builds are continually going up around me. This week was the first week I got to make a change in it as I did a kitchen reno and a unit with my layout finally went on the market that was an actual comp to my own, ie. same type and quality of renovations.
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Congrats on crossing the 200k of investments. To change a saying, the first 200k is hard, the next 200k is inevitable. Usually the saying is in millions.
I just crossed 100k myself in investments on mint. I'm dying to hit 102k because not all of my 401k or my wife's 401k are vested so I know the 100k number isn't exactly real.
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Good job and CONGRATS!
I'll second uspsfanalan's comment--milestones get easier and easier as you go. Compounding is a beautiful things, especially when you get started on time, which you (and many others on this site) have done!
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Good stuff congrats. I hit $300 a month ago so know the feeling. And already grown that another 1.75% since.
It certainly does feel like it is getting easier
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Exceptional!
It wasn't that long ago that we crossed $100k(May 2012) and $134k in January.
Honestly I think once you get past a certain point it really starts to accelerate. If the market holds I expect to be nipping $175k by the end of the year.
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Add another who doesn't include the ever-fluctuating value of his house in net worth calculations. (The "I used to be a millionare before '08" effect :-)) Instead, I use the mortgage balance vs segments of net worth as milestones: e.g. when the 401k money is more than the mortgage balance, then the mutual funds, the IRA money is getting real close...
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If the market holds I expect to be nipping $175k by the end of the year.
Don't count on it. I updated my spreadsheets last year assuming 5-7% growth going forward, and we've blown that so far out of the water that at this point I'd be happier if the market stayed pretty much level between now and Dec 31. Otherwise, in my mind it's all fake wealth just waiting for the next big crash to wipe it out.
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If the market holds I expect to be nipping $175k by the end of the year.
I do all of my net worth estimates assuming a 0% return from the stock market, so just an increase from my savings. That way, the stock market going up is a pleasant surprise.
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Thank you for the kind words and encouragement, everyone!
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Just a bump to follow up... Crossed $400k sometime last month. This is with about $20k in one-time spending last year. (New siding, windows, gutters... 2 international trips as well.. Kinda spendy but we're trying to get some quality time in as a married couple before we have kids.)
Keep pluggin away folks
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Well done! It seems I am going up with you as well, will nudge 450 soon.
Aiming for 500 by the end of the year.
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good job man. keep up the good work.
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Awesome job! I'm hoping we'll hit $100K net worth by the end of this year, I love those big round milestones!
The stock market was kind to us last year, we hit $100K in July. As of today we're at $146K, hoping for $150K by next month based on contributions and debt paydown.
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Reading Sol's February 2013 comment is funny. That's why one shouldn't try to time the market (not that he did), cause you just don't know.
Congrats Abe!
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Reading Sol's February 2013 comment is funny. That's why one shouldn't try to time the market (not that he did), cause you just don't know.
I 100% stayed the course throughout the year, and I'm glad I did, but that comment from February (basically "wow this market runup is crazy") feels just as true to me now as it did then.
The market has more than doubled in the past five years. No one else thinks that's unusual? Surely somebody here has the tools to query the historical stock market record to find out how many other times in history it has grown by 100% in 5 years or less, and how many of those times had severe recessions either right before or right after or both.
If it holds, I'm singing all the way to the bank. Everyone here has benefited greatly from outsized returns but I think it's important to remember that the long term average is significantly less than what we've all experienced recently. My expectations going forward are for things to cool off a bit.
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Reading Sol's February 2013 comment is funny. That's why one shouldn't try to time the market (not that he did), cause you just don't know.
I 100% stayed the course throughout the year, and I'm glad I did, but that comment from February (basically "wow this market runup is crazy") feels just as true to me now as it did then.
The market has more than doubled in the past five years. No one else thinks that's unusual? Surely somebody here has the tools to query the historical stock market record to find out how many other times in history it has grown by 100% in 5 years or less, and how many of those times had severe recessions either right before or right after or both.
If it holds, I'm singing all the way to the bank. Everyone here has benefited greatly from outsized returns but I think it's important to remember that the long term average is significantly less than what we've all experienced recently. My expectations going forward are for things to cool off a bit.
I figured you did, and I share the same sentiments as you, both now and then.
It just further reinforces, to me, we just don't know, and taking the long term stay the course view is best. Yes, we'll eventually be right, and it will crash back down, but trying to time that is folly. Naturally the gains of the past few years are sustainable going forward. I'd welcome a market crash in my accumulation years, personally.
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It's funny how y'all are talking about Zillow pulling the football away, when for me it's artificially inflating my net worth. Zillow thinks my house is up 100% from when I bought it 4.5 years ago. It's certainly up, but I don't think 100%.
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It's funny how y'all are talking about Zillow pulling the football away, when for me it's artificially inflating my net worth. Zillow thinks my house is up 100% from when I bought it 4.5 years ago. It's certainly up, but I don't think 100%.
Yeah, that's the case for me as well. I have a much larger percent of my net worth in real estate than equities, and over 2013 it shot WAY up. The fact that it's leveraged had a huge impact too. I'm well ahead of where I predicted I'd be, even just six months or a year ago.
For 2011 - part of 2012 Zillow was still dropping them, the reversed and shot up way more than it had dropped.
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Ok... Tonight I hit $500k, will be safely over it when payday comes. Interesting how these posts seem to be getting closer and closer together...
Keep plugging away everyone!
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Congrats man! That speed...
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Impressive!
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Zillow has been putting out stupid numbers for my house since I bought it last year.. according to them it dropped in value and was worth 30-40% less than either (almost identical) houses next door to me. for mint I look at trullia as well which had an estimate that was $5k lower than an identical house sold for just around the corner.
Zillow since updated their number and the year that my house was worth 30-40% less has disappeared from their history!
I calculate the value manually, cut off 5%, and enter that into mint... its just for estimate though - it is part of my net worth but its the liquid investments that matter when it comes to looking at FI
congrats on the round numbers... I just hit 400k in new worth... for the second time in 6 weeks :D $450k by year end would be fantastic but unlikely...
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Ok... Tonight I hit $500k, will be safely over it when payday comes. Interesting how these posts seem to be getting closer and closer together...
Keep plugging away everyone!
Congratulations, thats huge :)
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It's cool to see how your posts for each 100k are getting closer and closer together. That inspires me to keep plugging away. Our current net worth is $155k with the house, $57k without it (investment accounts only). I like to keep track of both numbers partly because the house makes the number much more fun and partly because we plan to downsize and move to a lower COL area at retirement (not far but away from the Denver/Boulder nuttiness) so some of the money in the house will become liquid at that point. With the recent changes we've made, and if the market holds steady, we'll be very close to $100k in investment accounts by this time next year and with the house, we'll be over $200k. We're still relatively new to the more hardcore aspects of this so hopefully we can tighten things up even more and accelerate these numbers.
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Wow, it is nice to see how quickly your NW snowballed.
Mine dipped by $20K this month because of zillow estimates. I do not include my primary residence in the net worth calculation of mint, but do include my two rental properties.
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nice i'm hoping to hit 300k NW by the end of the year. we have 200k in retirement funds and our house on zillow says it gives me a value of ~190k ... haha thats way off. based on what i think it will sell for we are sitting closer to 90k in value so 10k to go... bonus and stock from my company will get us across that line in Dec.
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Love this thread and seeing your rapid progress from 300 to 500K! You're rocking it my friend. You are already FI in my neck of the woods where 100K buys a nice house and 20K a year is more than enough.
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Abe I am super inspired by this as i will hit 300k around december of this year ... extrapolating out i could be at 500k by 2016 in july. i like this. Though you did get that great 2013 in on the ascent.
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First post in a long time.. hit $800k this week.
We moved into a new house almost 2 years ago, which may have set us back a little. But it was a great piece of property in an incredible neighborhood. It gives us peace and quiet, which is hard to get in our area. It did increase our utilities etc., and the one-time cost of moving are a total bastard. But we felt it was worth it.
We also welcomed a beautiful child into this world. Life is good.
See you guys in a year or two. :)
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First post in a long time.. hit $800k this week.
We moved into a new house almost 2 years ago, which may have set us back a little. But it was a great piece of property in an incredible neighborhood. It gives us peace and quiet, which is hard to get in our area. It did increase our utilities etc., and the one-time cost of moving are a total bastard. But we felt it was worth it.
We also welcomed a beautiful child into this world. Life is good.
See you guys in a year or two. :)
Congrats on the NW increase (500k increase in 3.5 years, dang! Keep that up, and you'll be FIRE in a few years), and especially congrats on the baby! :)
EDIT: Sol, if you read this, go back and read our comments in this thread. :)
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First post in a long time.. hit $800k this week.
We moved into a new house almost 2 years ago, which may have set us back a little. But it was a great piece of property in an incredible neighborhood. It gives us peace and quiet, which is hard to get in our area. It did increase our utilities etc., and the one-time cost of moving are a total bastard. But we felt it was worth it.
We also welcomed a beautiful child into this world. Life is good.
See you guys in a year or two. :)
Congrats on the NW increase (500k increase in 3.5 years, dang! Keep that up, and you'll be FIRE in a few years), and especially congrats on the baby! :)
EDIT: Sol, if you read this, go back and read our comments in this thread. :)
I remember reading this back in 2014 before I started really posting. I'll jump in and leave myself a time-capsule note. (335k NW)
Back in 2014 I was probably only in the 100s somewhere but wasn't tracking it very well...
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That is awesome! Congratulations! I am just barely over the $100K milestone. And I agree, Zillow has not been my friend in mint.com. With everything I've done and have been doing, Zillow seems to cheerfully erase it every time it updates. AAAAARRRRGH, as Charlie Brown would say. :)
My solution to this problem is to not tell mint about my property values. I use mint to track my invested net worth outside of housing and cars and such, on the assumption that these are fixed costs. I don't intend to ever sell a house, so why would the property value be relevant to me?
Especially in times of falling property values, it helps me to focus on what I can (sort of) control. When the house is paid off and I no longer have a mortgage payment, my expenses will go down but my net worth, as figured this way, will not change.
I track my other assets in Mint, I just don't count them for FIRE purposes. I focus strictly on invested assets and cash which are currently sitting just under $600K right now.
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As one who will cross the 300,000 nw mark this coming Friday, this was a fun one to stumble across. Well done!
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Zillow has been showing our property values have been dropping over the last year. Not surprising, it's a buyer's market in our area at the moment.
I've lost at least $145,000 in net worth according to Zillow.
Couldn't be happier.
Now I have ammo to use when I appeal my property tax valuations. I may be able to lower my property taxes!
Of course, if I wanted to sell or borrow against them, that would be different.
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Hello again!
Hit $900k+ over the last few weeks.. it's been a roller coaster. I thought I was on track to hit it sooner, but Zillow dropped my house value almost $80k in the middle and it's been crawling back up. I've also benefitted from the big run-up of crypto, namely Bitcoin. Stock market has been kind to us as well. Regardless we're saving quite a bit each month.. One of these days we're going to need to start some renovations, but until we really feel the urge we'll just keep saving.
Hope everyone here is doing well... keep fighting the good fight..hope to see you all with news of double commas in the next year or so!
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While I watch my net worth grow by tens of thousands of dollars per month, in disbelief, I try to remind myself...
easy come, easy go.
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Hello again!
Hit $900k+ over the last few weeks.. it's been a roller coaster. I thought I was on track to hit it sooner, but Zillow dropped my house value almost $80k in the middle and it's been crawling back up. I've also benefitted from the big run-up of crypto, namely Bitcoin. Stock market has been kind to us as well. Regardless we're saving quite a bit each month.. One of these days we're going to need to start some renovations, but until we really feel the urge we'll just keep saving.
Hope everyone here is doing well... keep fighting the good fight..hope to see you all with news of double commas in the next year or so!
Congrats! So cool to see your older post about being north of $300K first and then to see this one about hitting $900K. High five!
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I do all of my net worth estimates assuming a 0% return from the stock market, so just an increase from my savings. That way, the stock market going up is a pleasant surprise.
Me too!
I do include them from the point of view of determining "Am I FIRE now?"
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Congrats everyone! Seeing your posts is really inspirational - not only from seeing where you're at now, but also from where you were at just a couple years ago.
I'm a little late to the game and have more student loans than I'd like, but I'm starting to sock away a good amount. Just a year ago I got a positive net worth and am now about 45k up. Looking forward to that first 100k.
Keep it going guys and gals!
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While I watch my net worth grow by tens of thousands of dollars per month, in disbelief, I try to remind myself...
easy come, easy go.
I totally hear you.. I have a hard time believing that my assets will continue to grow and appreciate like they have been. This causes me to continue saving at a high %. Not sure when I'll feel like I've won the game, but I'm not there yet.
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Reading over this thread, I've been feeling that same way since 2013 and yet here we are, climbing ever higher.
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It's cool to see the progress, congratulations -the million can't be far away now.
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I am so close to 300k! I am including my condo because it was only this year that I paid it off, and all that hard dumping of cash into the mortgage was real. Zillow doesn't seem to be getting the number right though. Zillow says 92k- i bought it for 140k in 05 if I use the 'private estimate' button on Zillow, I get 141k- which seems more like it.
Confusing!
Anyway I can't wait to come back and update that I have 300k nw.. soonsies!!!
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Hello again!
Hit $900k+ over the last few weeks.. it's been a roller coaster. I thought I was on track to hit it sooner, but Zillow dropped my house value almost $80k in the middle and it's been crawling back up. I've also benefitted from the big run-up of crypto, namely Bitcoin. Stock market has been kind to us as well. Regardless we're saving quite a bit each month.. One of these days we're going to need to start some renovations, but until we really feel the urge we'll just keep saving.
Hope everyone here is doing well... keep fighting the good fight..hope to see you all with news of double commas in the next year or so!
Hey everyone - here for an update
I think about this thread a lot, but am usually hesitant to come back and post
Currently my NW sits at $3.5 million. Our incomes have increased, the market has obviously done well the last few years. But the number of performer in my portfolio has been bitcoin.
I know many here are not big fans, so make of it what you will. But that part of portfolio now exceeds any other individual asset class. I’ve bought bitcoin just the same way I’ve funded my retirement account, by dollar cost averaging over time. That’s all.
Having a large bitcoin stack has given us the confidence to increase our savings rate, oddly enough. We currently max out 3 retirement accounts. Saving on taxes and accumulating bitcoin has been the two primary ideas that currently drive our savings plan.
Anyways, best of luck to you all… I might check on this thread in the coming days but will likely disappear again for a while.
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Cool update, I’ve enjoyed reading through this thread. Appreciate the honesty.
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Abe are you going to take at least some of those crypto gains off the table?
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Wow! I just read post #1 then zoomed to the end. Amazing.
Can you describe what emotions you experienced or actions you took in March 2020 when BTC dropped down to $5k/usd ?
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Hello again!
Hit $900k+ over the last few weeks.. it's been a roller coaster. I thought I was on track to hit it sooner, but Zillow dropped my house value almost $80k in the middle and it's been crawling back up. I've also benefitted from the big run-up of crypto, namely Bitcoin. Stock market has been kind to us as well. Regardless we're saving quite a bit each month.. One of these days we're going to need to start some renovations, but until we really feel the urge we'll just keep saving.
Hope everyone here is doing well... keep fighting the good fight..hope to see you all with news of double commas in the next year or so!
Hey everyone - here for an update
I think about this thread a lot, but am usually hesitant to come back and post
Currently my NW sits at $3.5 million. Our incomes have increased, the market has obviously done well the last few years. But the number of performer in my portfolio has been bitcoin.
I know many here are not big fans, so make of it what you will. But that part of portfolio now exceeds any other individual asset class. I’ve bought bitcoin just the same way I’ve funded my retirement account, by dollar cost averaging over time. That’s all.
Having a large bitcoin stack has given us the confidence to increase our savings rate, oddly enough. We currently max out 3 retirement accounts. Saving on taxes and accumulating bitcoin has been the two primary ideas that currently drive our savings plan.
Anyways, best of luck to you all… I might check on this thread in the coming days but will likely disappear again for a while.
congrats! I am having FOMO!
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Abe are you going to take at least some of those crypto gains off the table?
No I don’t plan on it. Trying to time a sale could lead to owning less bitcoin in the end. As my best performing asset is rather not part with it for dollars, since my my pays me in dollars every other week. All of my tax advantages accounts continue to accumulate index funds, at a greater $ amount than I buy use to buy bitcoin.
Can you describe what emotions you experienced or actions you took in March 2020 when BTC dropped down to $5k/usd ?
I didn’t feel anything… Honestly I was buying more at the time… remember the entire economy went into liquidity shock at that time, so there was pain all around even in stocks. Though certainly the % drop the in bitcoin was more than stocks, I’ve learned to accept the volatility, good and bad, and ride it out.
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Greetings All: An update
So my two largest individual positions are down quite bit: Bitcoin and Tesla stock. Our NW currently stands at about $2.1mil, down from a peak of $3.5 mil.
I haven't sold anything significant in the last year, aside from some FB/Meta stock I sold because I hate the company. Otherwise I've been accumulating bitcoin after-tax, and been maxing our 3 pre-tax accounts into Vanguard index funds. Yawn.
See you in a year or so... who knows where we'll all be!
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Thanks for the update. Always appreciate folks checking back in, good and bad.
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Hit $1.6M liquid net worth today. With the house, the total NW is around $2m.
My goal was $1.5M plus a buffer. So now I have a $100k buffer. Still seems a bit tight though, so OMY.
I believe when I first hear of MMM (7 years ago) our total NW was in the vicinity of $800k.
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Hit $1.6M liquid net worth today. With the house, the total NW is around $2m.
My goal was $1.5M plus a buffer. So now I have a $100k buffer. Still seems a bit tight though, so OMY.
I believe when I first hear of MMM (7 years ago) our total NW was in the vicinity of $800k.
Excellent progress!
Right there with you on OMY. I'd rather have extra buffer than have to go back to work.
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Greetings All: An update
So my two largest individual positions are down quite bit: Bitcoin and Tesla stock. Our NW currently stands at about $2.1mil, down from a peak of $3.5 mil.
I haven't sold anything significant in the last year, aside from some FB/Meta stock I sold because I hate the company. Otherwise I've been accumulating bitcoin after-tax, and been maxing our 3 pre-tax accounts into Vanguard index funds. Yawn.
See you in a year or so... who knows where we'll all be!
Back for an update
Currently at $4.1mil net worth. The overall asset rally has helped us, just like most others. Real estate prices are up, though our only home is our primary residence. Biggest driver of the increase is Bitcoin, of course. Otherwise we’re continuing our saving habits, increasing our salaries incrementally. God is good.