Net Worth

[kkbmustang]

I saw the other Net Worth posts, so I had to go check ours. We have $320,000 in investments (retirement and after-tax), $200k in home equity (will be selling our house and downsizing in the next 6 months or so) and $65k in student loans (no other debt), for a total net worth of $455,000. Not terrible.

I'm 40, the Hubs is 42 and we have two kids (10 and 8) in private school. We're selling our house and likely moving to a neighborhood with excellent public schools so the new house will be roughly the same dollar value, but smaller size and no more private school tuition. That should help accelerate our savings rate.

[happy]

Congratulations kkb :), thats awesome. I really think you are wise downsizing and moving whilst your children are in junior school.  You'll save years of private school fees, and they will adapt to good quality public schooling reasonably quickly.

[kkbmustang]

Thanks, Happy. I've been very reluctant to change my mindset on the private school, but after removing my emotions and simply looking at the math (which was HARD to do), it just made more financial sense. All of my objections were really unfounded, as the same issues I was concerned about would be present in their current school, just in a different form. So, there you go.

Plus, in the new area since it's so highly coveted, renting out our place after the kids graduate, should we decide to do so, would be pretty easy. The rent vs. buy calculator referenced around here showed that buying would be the better deal after 3 years, which isn't that long. And it's a highly walkable area and closer to the Hubs' job, making it even more attractive.

[happy]

My 2 are in private school, so I understand the struggle. The last 2 years in high school  are a pretty big deal in this country and the public options for them would not be good in our current location, so I am sucking it up to pay 2 1/2 years more fees.  Once they are both in tertiary education I will have an idea where they are geographically, and the numbers to sell the house and downsize will make more sense.  I'm looking forward to a smaller place.

[Michelle119]

Congratulations on your net worth!

[kkbmustang]

I saw the other Net Worth posts, so I had to go check ours. We have $320,000 in investments (retirement and after-tax), $200k in home equity (will be selling our house and downsizing in the next 6 months or so) and $65k in student loans (no other debt), for a total net worth of $455,000. Not terrible.

I'm 40, the Hubs is 42 and we have two kids (10 and 8) in private school. We're selling our house and likely moving to a neighborhood with excellent public schools so the new house will be roughly the same dollar value, but smaller size and no more private school tuition. That should help accelerate our savings rate.

Holy crap, friends. We passed the $500k mark. But I'm really not sure how as I've been feeling like we've totally been sucking wind lately. We've been hovering around that mark, but I guess the stock market has been friendly to us. Based on crazy real estate activity in our neighborhood Zillow has underestimated our home value, so it likely is a little bit higher than Mint shows. We haven't moved yet due to uncertainty surrounding my husband's job (his Dallas based project ends in about a year which may require a relocation to another city), so it doesn't make sense to move and then move again. But, holy cow. Yay!

[arebelspy]

I saw the other Net Worth posts, so I had to go check ours. We have $320,000 in investments (retirement and after-tax), $200k in home equity (will be selling our house and downsizing in the next 6 months or so) and $65k in student loans (no other debt), for a total net worth of $455,000. Not terrible.

I'm 40, the Hubs is 42 and we have two kids (10 and 8) in private school. We're selling our house and likely moving to a neighborhood with excellent public schools so the new house will be roughly the same dollar value, but smaller size and no more private school tuition. That should help accelerate our savings rate.

Holy crap, friends. We passed the $500k mark. But I'm really not sure how as I've been feeling like we've totally been sucking wind lately. We've been hovering around that mark, but I guess the stock market has been friendly to us. Based on crazy real estate activity in our neighborhood Zillow has underestimated our home value, so it likely is a little bit higher than Mint shows. We haven't moved yet due to uncertainty surrounding my husband's job (his Dallas based project ends in about a year which may require a relocation to another city), so it doesn't make sense to move and then move again. But, holy cow. Yay!

Congrats!  Semi-millionaire is a good place to be.  :)

[CarDude]

Always good to see a positive update. Keep chugging!