Race from 10 to 100k!!

[westtoeast]

Is it too late to join this? I started MMM lifestyle 7 months ago and I'm finally at a point where I can participate. I'd love to follow along for motivation!

I have...
$4000 in Roth/403b
$3500 in Emergency Fund (will grow until $6000, then I'll divert savings to investments)
$2000 in Short Term Savings
$10,000 in Pension (post-tax, will be leaving position before vesting so I count this as savings)
Total: $19,500

I also have student loan debt, but I'm strategically paying it off so as to take advantage of teacher loan forgiveness in 2.5 years. For this reason I'm not counting it against my net worth, because none of these assets will be depleted by the debt.

Saving/Debt Repayment Rate (post tax) = 48%

[Malum Prohibitum]

Is it too late to join this?

  It's never too late!  Keep us updated.  It gives yourself a place to be accountable.

[NickleNurser]

Jan 2016: 19,799
Feb 2016: 18,990
Mar 2016: 21,803
April 2016: 34,510 (Large reimbursement from my company)
May 2016: 37,172
June 2016: 40,277
July 2016: 47,027
August 2016: 47,772
September 2016: 51,071
October 2016: 53,397
November 2016: 59,326

[SGontour]

January 2015: CHF 49,805
...
November 2015: CHF 66,524
December 2015: CHF 67,473

January 2016: CHF 78,098
February 2016: CHF 81,995
March 2016: CHF 78,422
April 2016: CHF 84,996
May 2016: CHF 86,464
June 2016: CHF 89,312
Juli 2016: CHF 92,488
August 2016: CHF 99,535
September 2016: CHF 98,719
October 2016: CHF 97,52

November 2016: CHF 106,096

Hopefully the first 100k is really the hardest part to get to 1 million :)

Thank you all for the support and motivation to keep me on track!

  Congrats!  What explains the big jumps in net worth in January and February?

I normally invest three times a year. One is end of January when I get my bonus for the previous year.
If I remember correctly, January was quite a bad month (prices got cheaper :) ) and during February prices rose again.
Thus, good, but unintentioned timing of the market ;)

(my numbers are only my investments, no retirement accounts or cash, and thus, 100% in stocks)

[icegirl]

Net worth right now: $24k

Hoping to get to $100K in one year. We are in crazy saving mode until august, where we move into our new condo. We are probably taking a little break from crazy mode in sept-dec, without letting the lifestyle creep get too bad.

[jeeebus]

Hi all,

I'm new to the group, although I discovered MMM in September 2015. Since then I've been busy getting my finances in order and starting to build my 'stache, which as of today is $21,326.78. Hope to increase this by $2,000 at the end of the month.

Managed to save a bit more than planned last month, so my 'stache is currently sitting at $24,044.76

[Nederstash]

Aug 15: 5327 (found MMM)
Sep 15: 5775
Oct 15: 6964
Nov 15: 8551
Dec 15: 12085
Jan 16: 12700
Feb 16: 13691
Mar 16: 14818
Apr 16: 16220
May 16: 17510
Jun 16: 21149
Jul 16: 22024
Aug 16: 23325
Sep 16: 24285
Oct 16: 25400
Nov 16: 26932
Dec 16: 31121

Nice increase due to Christmas bonus, though 2300 will evaporate in Jan/Feb due to taxes and health insurance (paid only once a year instead of monthly).

[MVal]

Wow, I actually broke $80K on my total NW yesterday! With the way everything was so down before the election, I thought I might not make it there before the end of the year, but here I am! Thanks, Donald Trump, lol!

I still have my bonus to put in yet in another couple weeks, so I'm excited to see how far I'll get by the end of the year pending no major drops in the market between now and then.

[tomita]

16 Mar 2016    $64300 - $13200 = $51300
17 Apr 2016     $103500 - $45600 = $57900
10 May 2016    $106390 - $42900= $63490
28 May 2016    $109037 - $41046= $67991
24 Sep 2016   $109400-$33300=$76100 

30 Nov 2016   $115000-$29000=$86000

[minority_finance_mo]

There's a tiny chance I might graduate this challenge this year! (Fingers crossed)

[Cezil]

Not for the first time ever, but the first time I think I've done it right/included what should be included/did it right, I have calculated my personal net worth as of today!  I want to keep a record and be able to look back one day and know where I sat myself down and decided to get my crap together.  FI isn't going to just show up on my doorstep unless I send out that invitation in the first place, right?  Net worth is actually much higher than I thought, and this makes me so happy.  Pluses were paying off 2 of 3 student loans in the past 2 years, minuses were buying a new-to-me car and a house.  All in all, I'm starting off better than anticipated, so go me!!

Dec-16: $32,870.70

[druth]

Sep-15   $6,657
Oct-15   $10,846
Nov-15   $13,419
Dec-15   $19,983
Jan-16   $23,828
Feb-16   $27,482
Mar-16   $33,831
Apr-16   $38,873
May-16    $38453
Jun-16    $43398
Sep-16 $56655

December-16 65515

Honestly I left my job for a much lower paying one and I'm saving way less than what I'd like but the value of my house has been going nuts since they announced a new stadium near me.  Median house value is up 9% in the last year.  I'm certainly not going to complain though.  ¯\_(ツ)_/¯

[viverl]

06/2014  2.500€
09/2016  43.882,85
12/2016: 48.143,58

Nice end of year :)

[tomita]

16 Mar 2016    $64300 - $13200 = $51300
17 Apr 2016     $103500 - $45600 = $57900
10 May 2016    $106390 - $42900= $63490
28 May 2016    $109037 - $41046= $67991
24 Sep 2016   $109400-$33300=$76100 

30 Nov 2016   $115000-$29000=$86000

20 Dec 2016   $119500-$26770=$92730

[NickleNurser]

Jan 2016: 19,799
Feb 2016: 18,990
Mar 2016: 21,803
April 2016: 34,510 (Large reimbursement from my job)
May 2016: 37,172
June 2016: 40,277
July 2016: 47,027
August 2016: 47,772
September 2016: 51,071
October 2016: 53,397
November 2016: 59,326
December 2016: 64,142

[beantown]

Joining this thread. After December's bonus hit, I'm at $16.4K for my current net worth and am finally positive in net worth at the age of 30. Hoping to increase this to $75K by end of 2017.

[aoedae]

Consider this my sign-up for the thread!

I'm currently on a salary of £23,500 and paying back a student loan in the UK, so I'm going for (what is for me) a stretch goal of saving an additional £15,000 between January 1st 2017 and December 31st 2017.

I'm hoping that in addition to salary and any bonuses, some of this will be from the sale of assets (excess household goods etc.), some from current account hopping, and some from interest. I'm challenged by the fact that I pay what feels like quite a bit of tax (12% on all + 20% on anything over £11,000 + 9% on all values over £17,000)

Starting values:
End December 2016: £29,600 + company pension £500

Final goal:
£45,000 + company pension ???

[dogboyslim]

3/8: $20,818
3/29: $23,784
4/21: $26,650
5/20: $28,769
6/30: $32,015
8/1: $34,808
9/1: $37,342
9/29: $39,883
10/31: $41,720
11/28: $44,979
12/30: $56,197

Wife had a small inheritance that boosted us $8k.  At current pace we should graduate in early 2018.

[$40Kby40]

30 Dec 2015 - $37,354
30 Dec 2016 - $83,224

+$45,870

I waited until the end of the year to take my pets to the vet for dentals/annual exams and ended up spending way more than I wanted to (one cat had a tumor removed). If not for these expenses, would have been at $50,000+ for the year. Pets are such a money suck.

So, goal for 2017 is to increase by at least $50,000 while still living a not so completely mustachian life.

[FIREGuy]

Oct 2016 - $17,457
November 2016 - $35,747
December 2016 - $39,657

[Rodgers12]

07/31/2015: $36,978
08/31/2015: $34,949
09/30/2015: $35,722
10/31/2015: $37,797
11/30/2015: $39,424
12/31/2015: $42,763
01/31/2016: $44,656
02/29/2016: $47,521
03/31/2016: $51,770
04/30/2016: $55,260
05/31/2016: $58,756
06/30/2016: $58,646
07/31/2016: $64,525
08/31/2016: $66,682
09/30/2016: $68,877
10/31/2016: $68,616
11/30/2016: $69,541
12/31/2016: $74,813

[edmundblackadder]

End of year number is 88K! Up 38K from this time last year; 4K are investment returns (6.3% return for the year), so I saved a solid 34K. That's just below my stretch goal of 35K, so I'm very pleased.

Next year should be interesting (probably moving abroad, I expect massive political upheaval influencing the market, etc. etc), and I think if I stay on this slope, I'll be pretty happy.

[minority_finance_mo]

End of the year, and I just graduated from this challenge. Thanks for setting this up, and best of luck to everyone continuing on in 2017!

[AcftW]

$40,061 - Dec 2015
$43,153 - Jan 2016
$47,634 - Feb 2016
$50,404 - Mar 2016
$53,733 - Apr 2016
$54,717 - May 2016
$55,014 - Jun 2016
$59,924 - Jul 2016
$55,527 - Aug 2016
$61,117 - Sep 2016
$64,384 - Oct 2016
$56,780 - Nov 2016
$58,510 - Dec 2016

$67,328 - Jan 2017

Jumped up a solid amount because of new job/increased pay, though investments went down.  Making solid progress regardless, and a good way to start the year off.

[plutomaniac]

I know I'm joining late, but better late than never!

NW

Jan 2017 - $93,255.80

I've been following this thread for about 6 months, so it feels good to finally post. I'll likely rejoin this race at some point as I'll be buying a house in the near future.

Good luck in 2017 everyone.

[BeautifulDay]

Mar 2016     $28,361
Apr 2016      $31,751
May 2016      $38,742
Jun 2016      $40,970
July 2016      $61,657
Aug 2016     $64,120
Sep 2016      $66,961
Oct 2016      $70,179

Should make $75k by the end of the year.

Dec 2016.   $ $78,000

[intirb]

The spreadsheet got messed up, so I had to restore it to a previous version from two weeks ago.  It's possible that recent data was lost, so you may want to go back to the spreadsheet and re-enter your information.

[Mezzie]

My somewhat roughly estimated net worth as of this morning is -$15,000. $100,000 may be a ways off, but it's certainly something to work towards. Step 1: Net worth of 0 by July. :)

[markbike528CBX]

@mezzie
   You are way ahead in the game already.
Most people don't know that aspiring to have a NW of zero or greater is even a thing to do!

[jeeebus]

Oct 2016 - $21,326.78
Nov 2016 - $24,044.76
Dec 2016 - $25,106.17

Happy New Year everyone

[lamil]

March 2016: 8152.00
April 2016: 10915.00
Today(April 26th): 19516.00
May 31, 2016: 22,693
June 30, 2016: 27,496
July 31, 2016: 31,297
August 31, 2016: 34,286
September 30, 2016: $32,870 *new driveway
October 31, 2016: $36,980
November 30, 2016: $41,765

December 31st, 2016: 44,852

[Mezzie]

@Mike

Thanks for the encouragement! I did real math this morning and figured out just how much I could get from my pension fund if I were to quit now, and it's quite a lot more than I estimated.

So, my actual starting net worth is $39,409.44, not a negative number. Yay!

[MVal]

I'm going to try to track my NW monthly this year to chart my progress. Starting 2016, I had a NW of $50,000. I'm hoping to grow it to over $75K.
Once I get to $100K, I think I will give myself permission to move into my own apartment, as I've spent the last 8 years living with the same roommate--saving a ton of money, but not getting as much privacy as I'd like.

Jan 2016 - $50,000
April 2016 -$57,000
May 2016 - $60,000
June 2016 - $63,000
July 2016 - $69,000 (profit sharing, plus market doing better - so glad I front loaded this year!)
Aug 2016 - $72,000
Sept 2016 - $74,000 (markets down, same deposits though)
Oct 2016 - $74,000 (uggghhh...)
Nov 2016 - $78,000 :D
Dec 2016 - $84,000 (Wooooo! Dale tu cuerpo a alregria, Macarena...!)

Holy crap, I did it! Last year during this same time, the first week of January, I said the following: "Realistically, I'm looking to hit $75K by the end of 2016, with a stretch-goal of $80K. I can't wait to hit $100K!"  Now I have surpassed what I anticipated as my "stretch-goal" for 2016 by $4K! Sooo happy!

In re-cap of 2016, I am very satisfied with my decision to have fully funded my 401K for the first time. I front loaded the year with 80% of my pay going in for the first two months and then dialed back to 30% or so for most of the year and then added 80% of my bonus (80% is the max allowed on individual contributions by our company). I'm sure my payroll department thought I was a maniac towards the end of the year as I tried to tweak contributions to get to that magic, even number of $18K. On my last paycheck of the year, I put in a request to increase my contribution by just four cents...but it all worked out evenly and I'm so thrilled. The amazing thing is that even though I only contributed $18K to my 401K, the whole balance of it went up $28K! I had $22K in it last January and now I have over $50K! After my company's contributions of $1100 in profit sharing additions and $2,000 matching, I guess the rest of the increase was just from growth! Amazing! Equally amazing is the fact that my income was about $44K if you count my bonus, and my net worth went up $34K overall; my total contributions across all accounts was over $26K, so that means I passively grew more than $8,000!

And if I've calculated correctly, with my other contributions of fully funding my HSA and opening and fully funding a traditional IRA for the first time, I actually should get the full Saver's Credit and most likely pay NO income tax this year! I was lucky to be in a position this year where my income of $40K was just low enough that I could make this happen. I probably won't be able to do this again since I'll continue to get raises, but I'll be very excited to see if all my calculations for this were correct this last year.

This year, I don't plan to push as hard on the 401K as I might move out of my roommate's house and get my own apartment, but I still hope to contribute at least $12K. I also hope to fully fund the IRA again and the HSA and with any luck, add more money to my liquid savings, which is sitting at $8K after I raided it some to fund the IRA last week. I plan to front load the 401K again, hopefully adding close to $6K in the first two months.

I know everyone thinks 2016 was a horrible year, but it was very good to me!!

[Mezzie]

Congrats, MVal! That's really impressive!

[Nederstash]

Aug 15: 5327 (found MMM)
Sep 15: 5775
Oct 15: 6964
Nov 15: 8551
Dec 15: 12085
Jan 16: 12700
Feb 16: 13691
Mar 16: 14818
Apr 16: 16220
May 16: 17510
Jun 16: 21149
Jul 16: 22024
Aug 16: 23325
Sep 16: 24285
Oct 16: 25400
Nov 16: 26932
Dec 16: 31121
Jan 17: 31444 (prepaid a full year's health insurance, so no big increase)

[andy85]

Jan 16	$39,550
Feb 16	$41,468
Mar 16	$47,974
Apr 16	$51,484
May 16	$52,730
Jun 16	$53,694
Jul 16	$55,669
Aug 16	$56,725
Sep 16	$58,793
Oct 16	$58,748
Nov 16	$60,551
Dec 16	$61,253

[MEJG]

Dec 31, 2015: -$48,294.56
Dec 31, 2016 -$12,948.22 (+$35,346.34 for 2016)

2017 I'll be able to joint this race!

[SpareChange]

Awesome saving Mval!! Come join us in the next thread! :)

[MVal]

Awesome saving Mval!! Come join us in the next thread! :)

I can't wait! With front loading in the first two months, I should easily get to $90K quickly, but that final $10K push to the next level might be a bugger. With any luck, I'll get there before July, though.

[Verdure]

OK, joining in to try to bump savings up a notch this year.  New to this game with a lot of catching up to do! My back of envelope calculations put our NW at ~$57,000. 

I will work on nailing down harder numbers For Q2, but a lot of that is home equity, and that is not a hard number anyway. No way to know how much we truly have until we sell. 

Based on our current rate of retirement savings and mortgage/SL payoff, if we did nothing else to increase NW this year (and not factoring in markets), we would increase the stash to $79,000.  So as a stretch goal, I am going to shoot for $90,000 NW by the end of 2017. And another stretch, I hope to graduate to the next thread by the end of Q1 2018.

Oh, and full disclosure, that is that number is not factoring in my pension.  I suppose if I count that, we'd probably graduate by the end of this year, but I don't vest until next year, so we won't count our chickens.

[GeekyGirl]

Hi,

Happy new year everyone and congrats on the huge achievements. 2017 is the year I'm pressuring myself with hard goals so I'll join this thread.
If I'm focused I can probably get to the 100K in four years (end of 2020, at a conservative estimate not accounting for raises and stocks appreciation) which is way too long for me to envision but the thread could be a way to get myself accountable on tracking NW quaterly which is one of my goal for 2017.

Jan 17, 2017:  € 12,138 

I don't know how I 'lost' 3K in the last 2 weeks. It was 15K by end of December but I counted checking account which I'll exclude from now on. Hope to have it at 30K by end of year, that'll be cause for celebration.

[onehair]

Net worth finally is over $30K and my Emergency Fund is a few cents short of $700!!
IRA-$3822
TSP-$19602
Stocks-$5714
Acorns-$627
Digit Emergency Savings-$699

[tortoiseshell]

I'm joining in! I'll be here for a while because we're currently saving for a house. We track our net worth on the first of every month.

1/1/17: $29,671.78

[viverl]

Ok, start of the year. This time the increase will not be as huge as I am having a big wedding (budget together 10.000€) but nevertheless:

06/2014  2.500€
09/2016  43.882,85
12/2016: 48.143,58

update:
01/2017: 50.380 €

[MVal]

I've passed 100k if I factor in home equity, but I closed the year around 61k invested - I'm hoping to break 100k just in investments in 2016, so I'll stick around! :D

Realistically, I'm looking to hit $75K by the end of 2016, with a stretch-goal of $80K. I can't wait to hit $100K!

I have a good job, but I can't see myself staying in it for 5 more years. Great benefits, but I am fairly bored in it and would like to do other things with my life. I think if I could get a NW of $100K with about $20K in cash, I could feel comfortable with the risk of trying something else. I just want to have the cushion of being able to quit anything I'm not happy with. The last thing I want to do is quit my ho-hum but secure job for something that sounds good but turns out to be pure misery. I've had a pure misery job, know how easily I could be in one and know a great deal of people continue in one because they have no other choice.  I want to keep at least 1-yr of living expenses on hand for bugging out.

Good luck! Sometimes a leap like that turns out even better than you expected.  I quit a secure government job just over four years ago to move to the other side of the country (I quit with no job lined up)..fast forward to now - I'm in a new field entirely, my salary has doubled since then and I'm really quite happy. :)

$90k is more likely for me this year, but a stretch goal of $100k sounds good. :D

Wow, thanks, that is encouraging! I'm glad it turned out so well for you; I just hope the same for myself. I'd love to get into a completely new field. Perhaps my 'stache will fund my journey!

And here we are - I crossed into December with $101k and change in cash/retirement/investments!

Daaaang! Congratulations on blowing way past your stretch goal!! I went past my stretch goal too, made me so happy! We'll see what this year brings...

[twojabs]

Hi, thought I'd join in this thread too.  I'll periodically check in to see what is happening. (i'll convert all my £££ into $$$ for ease)

Anyway, my wife is finishing up for 9 months maternity leave on about $130 per week for the duration.

I invest roughly $530 in my workplace pension (only accessible when im 58), and a further $170 monthly into sharesave schemes (cant really access for 5 years).

This month we managed (somehow) to have a surplus of $1990 from our day to day account.

I'd say i hope it is not too long from 10k to 100k, but i have my reservations about investing, maybe someone can help me (?) get over the hurdle...

I think our split of where the money has gone is wrong but im too shit scared to switch it around even though (every month) i convince myself i'll change.

Of the $1990, we:
 - invested $380, split 60:20:20 between 3 passive trackers (Dev Wrld ex UK, Uk all-share, Global Property Securities)
 - put $60 toward our mortgage as an overpayment (1.5%)
 - saved $1550 (the balance) as cash (3% rate)

I should add we have around $25k in cash (though it may be double this through squirreling).

Our monthly outgoing are around $1300 incl mortgages, insurances, food (well everything except car fuel and car insurance)...

[Suit]

I have a feeling I'm going to get killed in this race, but I'm in. Right now at -32,000 net worth (student loans) so I'm not expecting to hit 100k NW until probably 2 years or so from now.

I FINALLY HIT 100K NW TODAY!!! Yay!

[JAYSLOL]

I'm going to jump into the race too.  Jan last year i had around $10k liquid invested, and managed to save 40% of my income in 2016 to bump my investments up to $30k by the end of the year.  Now i'm going into 2017 hoping to hit $50k by the end of the year

Jan, 2017 - $31k

[Verdure]

I FINALLY HIT 100K NW TODAY!!! Yay!

Congratulations!!! Woohoo! Way to go graduate!  Hope I can meet up with you in the next thread. :-)

[beantown]

Dec 2017: $16.4K
Jan 2017: $21.8K