Author Topic: Increased net worth by $81,000 in under 9 months  (Read 7948 times)

jeastith

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Increased net worth by $81,000 in under 9 months
« on: July 05, 2014, 07:19:06 AM »
Pretty excited over here!  My husband and I have gone into serious MMM mode, and paid off $50,000 in student loans, paid off our car, upped our automatic investments, and just bought a house a lot closer to his work (cheaper than the house we live in now, in a nicer neighborhood, with a bottom floor rental!) all in the span of 9 months. 

Man, life is so much better and more fun this way, isn't it? 

I've been tracking everything on Mint, and we've increased our net worth by $81,000 in under 9 months.  Super proud of us, but a little weird to blab to all of our friends, but the MMM forum peeps understand! 

Net worth is now $264,000 and we are about to sell one of our rental properties which wasn't paying off (finally did the REAL math instead of just looking at the check each month), and we'll stash another $30,000 from the sale. 

HELL YEAH!

Jeannie - Philadelphia

HappierAtHome

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Re: Increased net worth by $81,000 in under 9 months
« Reply #1 on: July 05, 2014, 07:23:37 AM »
Congrats on your progress!

Totally agree that life is more fun this way.

EK

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Re: Increased net worth by $81,000 in under 9 months
« Reply #2 on: July 05, 2014, 08:12:18 AM »
That is awesome! Way to go!!!

ToughMother

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Re: Increased net worth by $81,000 in under 9 months
« Reply #3 on: July 05, 2014, 08:24:34 AM »
Super impressive!!! Way to go!

G-dog

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Re: Increased net worth by $81,000 in under 9 months
« Reply #4 on: July 05, 2014, 09:12:23 AM »
So sweet! Good work and keep it up!

Thedudeabides

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Re: Increased net worth by $81,000 in under 9 months
« Reply #5 on: July 05, 2014, 09:24:58 AM »
Nice work. That's awesome!

dd564

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Re: Increased net worth by $81,000 in under 9 months
« Reply #6 on: July 06, 2014, 03:52:08 PM »
I was reading this thread and thought it was great.

Then I decided to check my tracking worksheet, and I was surprised by how well the last 12 months went as well.  It's funny how much it can grow without looking at it if you put good habits to work for you.


rpr

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Re: Increased net worth by $81,000 in under 9 months
« Reply #7 on: July 06, 2014, 04:09:10 PM »
The market helps as well. :)

SingleMomDebt

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Re: Increased net worth by $81,000 in under 9 months
« Reply #8 on: July 06, 2014, 06:29:20 PM »
Sweet inspiration! Superb!

Calvawt

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Re: Increased net worth by $81,000 in under 9 months
« Reply #9 on: July 06, 2014, 07:26:47 PM »
A 44% increase in net worth in 9 months is very impressive! Getting the loans paid off means even more money to save for ER!

EricL

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Re: Increased net worth by $81,000 in under 9 months
« Reply #10 on: July 06, 2014, 08:39:22 PM »
That's wicked!

webguy

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Re: Increased net worth by $81,000 in under 9 months
« Reply #11 on: July 06, 2014, 09:30:27 PM »
Awesome! You guys are gonna be financially independent in no time! What's the number you're aiming for?

jeastith

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Re: Increased net worth by $81,000 in under 9 months
« Reply #12 on: July 07, 2014, 07:10:41 PM »
Thanks for all of the positive feedback!  It feels nice to have people to celebrate with about it. 
Goal is to have house paid off and $600K stashed.  We are on our way :)

dude

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Re: Increased net worth by $81,000 in under 9 months
« Reply #13 on: July 08, 2014, 09:23:30 AM »
Inspirational! 

With $34,000 going into 401k annually, and $1,000/month going to student loans (nearly all of it principle), $1100 going into savings account monthly and around $625 into mortgage principle, we're looking at a $66,500 addition to net worth this year, not including market appreciation of home and 401k accounts (likely $80-90K or more there), we're right there with you!

EarlyRetirementGuy

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Re: Increased net worth by $81,000 in under 9 months
« Reply #14 on: July 08, 2014, 09:25:03 AM »
Thats awesome! Should be easily able to hit a 100k increase by the end of 12 months!

Gin1984

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Re: Increased net worth by $81,000 in under 9 months
« Reply #15 on: July 08, 2014, 10:40:47 AM »
Inspirational! 

With $34,000 going into 401k annually, and $1,000/month going to student loans (nearly all of it principle), $1100 going into savings account monthly and around $625 into mortgage principle, we're looking at a $66,500 addition to net worth this year, not including market appreciation of home and 401k accounts (likely $80-90K or more there), we're right there with you!
Why a savings account instead of a taxable investment account or even some government bonds?

HairyUpperLip

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Re: Increased net worth by $81,000 in under 9 months
« Reply #16 on: July 08, 2014, 11:07:39 AM »
Wow - very nice work. :)

soccerluvof4

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Re: Increased net worth by $81,000 in under 9 months
« Reply #17 on: July 08, 2014, 04:34:58 PM »
Job Well Done!!!

dude

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Re: Increased net worth by $81,000 in under 9 months
« Reply #18 on: July 09, 2014, 08:44:34 AM »
Inspirational! 

With $34,000 going into 401k annually, and $1,000/month going to student loans (nearly all of it principle), $1100 going into savings account monthly and around $625 into mortgage principle, we're looking at a $66,500 addition to net worth this year, not including market appreciation of home and 401k accounts (likely $80-90K or more there), we're right there with you!
Why a savings account instead of a taxable investment account or even some government bonds?

Oh, I KNEW someone would ask this!  Frankly, no other reason than inertia, sadly. I've been on the wife for months to move this money into something productive (there's @$35K in there currently), but she keeps dragging her feet (the money is our "joint" account, but it's in a savings account in her name).  We are planning to use about $15K at the end of the year to vanquish my student loans once and for all (and then divert the $1,000/month currently going towards student loans to a combo of catch-up contributions to my 401k and mortgage paydown), but have just kind of stalled on what to do with the rest.  I eventually want to build it up as a cash (or other liquid equivalent) buffer large enough to use for living expenses should the market tank right after my retirement. So, bottom line is, we keep talking about what to do with it, but haven't done anything.

Gin1984

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Re: Increased net worth by $81,000 in under 9 months
« Reply #19 on: July 09, 2014, 11:03:32 AM »
Inspirational! 

With $34,000 going into 401k annually, and $1,000/month going to student loans (nearly all of it principle), $1100 going into savings account monthly and around $625 into mortgage principle, we're looking at a $66,500 addition to net worth this year, not including market appreciation of home and 401k accounts (likely $80-90K or more there), we're right there with you!
Why a savings account instead of a taxable investment account or even some government bonds?

Oh, I KNEW someone would ask this!  Frankly, no other reason than inertia, sadly. I've been on the wife for months to move this money into something productive (there's @$35K in there currently), but she keeps dragging her feet (the money is our "joint" account, but it's in a savings account in her name).  We are planning to use about $15K at the end of the year to vanquish my student loans once and for all (and then divert the $1,000/month currently going towards student loans to a combo of catch-up contributions to my 401k and mortgage paydown), but have just kind of stalled on what to do with the rest.  I eventually want to build it up as a cash (or other liquid equivalent) buffer large enough to use for living expenses should the market tank right after my retirement. So, bottom line is, we keep talking about what to do with it, but haven't done anything.
I like ibonds as a cash equivalent.  After a year they can be pulled at any time (unlike CDs) but before 5 years there is a 3 month interest penalty.  That is what I plan to use as my buffer.

greenmimama

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Re: Increased net worth by $81,000 in under 9 months
« Reply #20 on: July 09, 2014, 11:16:33 AM »
That is really impressive, you guys have been busy!! I hope to have a similar post in the next year :)

I know I have increased our net worth since finding MMM around 9mo ago, but not really tracking it, I have been doing little things and we have had to sink a bunch of money into this house to get it ready to sell, so harder to track for sure, but I am excited for you and hope to follow in your footsteps soon!

joe travers

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Re: Increased net worth by $81,000 in under 9 months
« Reply #21 on: July 10, 2014, 11:58:02 PM »
Congrats!

My wife and I went into Mustachian mode last fall and began tracking our NW in Mint since January. From Jan thru June, our NW increased $57k. Our total NW at the end of June was just under $209k.

We have a combo of 401Ks, Vanguard and Fidelity taxable accounts, gov't TSPs (from our previous jobs), and savings/house downpayment fund. We aim to have a monthly savings rate of AT LEAST 40%.

It's pretty incredible to watch how fast your 'stache grows from month to month -- even in such a short amount of time. We're 30/32 yrs old so we're looking at FI no later than our mid 50s according to the "shockingly simple math behind early retirement" graph. I know we'll both work for the next 20 years, even if we end up hitting FI before we turn 50.

The last thing I'll add is that it's been crazy to overhear some of my colleagues at my new job go on about how much they spent on some sweet new headphone set and the next day complain about the credit card debt from their two week Hawaii vacation! I mean, WTF?! 

Exflyboy

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Re: Increased net worth by $81,000 in under 9 months
« Reply #22 on: July 11, 2014, 04:40:15 AM »
Seriously nice job!

Frank

Davids

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Re: Increased net worth by $81,000 in under 9 months
« Reply #23 on: July 11, 2014, 06:18:09 PM »
Awesome job, keep up the great work.

FIreDrill

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Re: Increased net worth by $81,000 in under 9 months
« Reply #24 on: July 11, 2014, 06:24:21 PM »
Dang! Awesome job!