Author Topic: Increased Net Worth By $140k In 2016, As DINK's In Our 20's  (Read 2960 times)

2Birds1Stone

  • Magnum Stache
  • ******
  • Posts: 4694
  • Age: 31
  • Location: Earth
  • K Thnx Bye
Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« on: November 20, 2016, 04:45:44 AM »
That is such a crazy thing to type out for us.

I turned 29 this year and my SO turned 25, neither one of us having a bachelor degree. I grew up poor and she grew up blue collar middle class.

How did we do it?

We keep expenses relatively low. This year our total combined total spending will be ~$45k in a very HCOL area. This included two international vacations, a couple of domestic ones, generous giving, and a generally fulfilling lifestyle where we really "want" for nothing.

Our income also went up quite a bit in 2016 due to some career choices we made in 2015. This income is not sustainable and will likely drop off quite a bit in 2017, so we milked it.

The market's while fairly flat for most of the year, did make up for about $15k of that increase.

I will hit an 80% savings rate for the year, while she will hit 60%. Combined we will be ~70% which is pretty cool to see.




arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 27160
  • Age: -999
  • Location: Traveling the World
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #1 on: November 20, 2016, 05:15:22 AM »
Nice!  Way to go!  :D
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 (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

marty998

  • Walrus Stache
  • *******
  • Posts: 5828
  • Location: Sydney, Oz
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #2 on: November 20, 2016, 05:19:09 AM »
Brilliant, love hearing these stories.

Do you have any prospects to maintain your level of income... or are you happy to revert back to whatever it will drop down to next year?

2Birds1Stone

  • Magnum Stache
  • ******
  • Posts: 4694
  • Age: 31
  • Location: Earth
  • K Thnx Bye
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #3 on: November 20, 2016, 05:37:04 AM »
Nice!  Way to go!  :D

Thanks Joe!

Brilliant, love hearing these stories.

Do you have any prospects to maintain your level of income... or are you happy to revert back to whatever it will drop down to next year?

It's not by choice, we got pretty lucky this year in terms of income. Me more so than her.

We both work in commissioned sales. Her income is likely to stay around where it is this year. I had an extremely good Q1 this year in terms of sales and it inflated our overall income quite a bit for the year.

Essentially we designed our lifestyle around not earning any commission, and we bank/invest every penny of it.

Sales is feast or famine in my line of work.

Metric Mouse

  • Walrus Stache
  • *******
  • Posts: 5302
  • FU @ 22. F.I.R.E before 23
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #4 on: November 20, 2016, 05:53:40 AM »

Essentially we designed our lifestyle around not earning any commission, and we bank/invest every penny of it.


Nice. This will serve you well, I think.

Dicey

  • Walrus Stache
  • *******
  • Posts: 8733
  • Age: 60
  • Location: NorCal
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #5 on: November 20, 2016, 10:11:38 AM »
Posting to say congratulations and I've really enjoyed your journal. Can't wait to see what the future brings.

clarkfan1979

  • Handlebar Stache
  • *****
  • Posts: 1770
  • Age: 39
  • Location: Kauai & Denver
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #6 on: November 20, 2016, 05:51:31 PM »
Congrats! I would focus on making your progress sustainable. Even if you stall for a little, it's ok.

Eco_eco

  • 5 O'Clock Shadow
  • *
  • Posts: 21
  • Location: Wellington, New Zealand
    • Nineteen-Six.com
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #7 on: November 20, 2016, 06:28:58 PM »
Well done- amazing work! You'll never regret how much you put away in 2016.

If you don't already have one I'd recommend making a written long term plan, so that you can set a similar goal for 2017. Even if your income is not as high having a clear goal stops any risk of accidentally dropping your saving rate (because you are telling yourself its not possible to have another year like you just had).

Classical_Liberal

  • Pencil Stache
  • ****
  • Posts: 991
  • Age: 42
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #8 on: November 20, 2016, 07:50:52 PM »
Frick'en... awesome!

2Birds1Stone

  • Magnum Stache
  • ******
  • Posts: 4694
  • Age: 31
  • Location: Earth
  • K Thnx Bye
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #9 on: November 21, 2016, 11:26:03 AM »
Posting to say congratulations and I've really enjoyed your journal. Can't wait to see what the future brings.

Thank you Diane, I enjoy having you visit my journal :)

Congrats! I would focus on making your progress sustainable. Even if you stall for a little, it's ok.

Thanks Clark, I am always trying to better myself personally and professionally, as a commissioned salesman the goal is to blow the numbers out of the park any chance I get. Reality doesn't always work out that way. I will be doing my absolute best!

Well done- amazing work! You'll never regret how much you put away in 2016.

If you don't already have one I'd recommend making a written long term plan, so that you can set a similar goal for 2017. Even if your income is not as high having a clear goal stops any risk of accidentally dropping your saving rate (because you are telling yourself its not possible to have another year like you just had).

I do have a long term plan in terms of my IPS which has wording around savings rate, etc. I don't know if 80% savings rate is realistic if my income were to drop by 1/3-1/2 next year. It will be above 50% as that is what the minimum is in my IPS. While I want to FIRE, there are only so many things I am willing to sacrifice to meat an arbitrary #.

Frick'en... awesome!

Thank you!

I didn't want this post to come across as braggy in any way. I feel very fortunate, and uncomfortable even hinting about such a topic in the real world. MMM is one of the only places I can think of where like minded individuals can come together and share success with each other.

tonysemail

  • Pencil Stache
  • ****
  • Posts: 726
  • Location: San Jose, CA
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #10 on: November 21, 2016, 11:28:13 AM »
congrats!  That's really awesome and I hope you continue striking it rich! :)

boarder42

  • Walrus Stache
  • *******
  • Posts: 7854
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #11 on: November 21, 2016, 11:30:35 AM »
congrats we are up something similar YoY. i just left the 20's 1 week ago wife is 29.

Metric Mouse

  • Walrus Stache
  • *******
  • Posts: 5302
  • FU @ 22. F.I.R.E before 23
Re: Increased Net Worth By $140k In 2016, As DINK's In Our 20's
« Reply #12 on: November 21, 2016, 02:18:04 PM »
Posting to say congratulations and I've really enjoyed your journal. Can't wait to see what the future brings.

Thank you Diane, I enjoy having you visit my journal :)

Congrats! I would focus on making your progress sustainable. Even if you stall for a little, it's ok.

Thanks Clark, I am always trying to better myself personally and professionally, as a commissioned salesman the goal is to blow the numbers out of the park any chance I get. Reality doesn't always work out that way. I will be doing my absolute best!

Well done- amazing work! You'll never regret how much you put away in 2016.

If you don't already have one I'd recommend making a written long term plan, so that you can set a similar goal for 2017. Even if your income is not as high having a clear goal stops any risk of accidentally dropping your saving rate (because you are telling yourself its not possible to have another year like you just had).

I do have a long term plan in terms of my IPS which has wording around savings rate, etc. I don't know if 80% savings rate is realistic if my income were to drop by 1/3-1/2 next year. It will be above 50% as that is what the minimum is in my IPS. While I want to FIRE, there are only so many things I am willing to sacrifice to meat an arbitrary #.

Frick'en... awesome!

Thank you!

I didn't want this post to come across as braggy in any way. I feel very fortunate, and uncomfortable even hinting about such a topic in the real world. MMM is one of the only places I can think of where like minded individuals can come together and share success with each other.

Sounds like you've got a great plan that you will be able to stick to long term; that's great to have.