Author Topic: Progress for 20 something's  (Read 59884 times)

Philociraptor

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Re: Progress for 20 something's
« Reply #250 on: August 23, 2019, 12:51:57 PM »
I'll add in some data. 26, married. Below are our joint numbers:

Cash Savings - $9,688
Investments - $137,942
Home Value - $139,000
Debt - $177,836 ($104k house, $9k car, $64k student loans)
Net Worth - $108,794

House was purchased for $110k 4 years ago, car was purchased pre-MMM and will be downsized soon, student loans started right around $100k 5 years ago (private school is expensive when your parents make a lot of money but didn't save any for your college).

Quoting myself to show progress. Now I'm 27.6, wife is 27.7, married 2.7 years. Combined numbers:

Cash savings - $2,000
Investments - $201,469
Home Value - $139,000
Debt - $162,328
Net Worth - $180,141

Been awhile since I updated. In my final year of our 20's now, we paid off my student loans last Friday.

Cash savings - $5,770
Investments - $330k
Home value - $180k
Debt - $99k
Net Worth - $417k

Moving along nicely. I'll try and update a bit before our 30th.

Numbers from the end of my 30th birthday month:

Cash savings - $9k
Investments - $402k
Home value - $207k
Debt - $98k
Net Worth - $520k

Goal is to FIRE by 40. Very happy with our progress over the past few years, even if a lot of it is due to exceptionally strong market conditions.

bbqbonelesswing

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Re: Progress for 20 something's
« Reply #251 on: September 22, 2019, 06:04:42 PM »
I turned 27 this past July. My salary is $80k (+bonus and profit sharing). Here are my current numbers:

Cash: $4,431.05
Taxable Investments: $35,313.69
Roth IRA: $18,584.59
Roth 401k: $19,449.80
Total Debt: $281.29
Net Worth: $77,497.84

My goal is to break $100k salary by 30 and be financially independent (not yet retired) by 32.

happychineseboy

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Re: Progress for 20 something's
« Reply #252 on: November 01, 2019, 12:38:30 PM »
26 y/o.

IRA - 20K
Cash - 25K
Robinhood (stocks)- 15K
Old 401k - 7K
Current 401k - 12K
ESPP - 9K

NW - 88K

Hoping to reach $200K by 30!

Another year has come and gone. I am 27 now

IRA - 34K
Cash - 18K
Robinhood (stocks)- 19K
Old 401k - 8K
Current 401k - 41K
ESPP - 25K

NW - 145K

Another strong year powered by phenomenal market returns


I am 28 now

IRA - 42K
Cash - 19K
Robinhood (stocks) - 29K
Old 401k - 9K
Current 401k - 63K
ESPP - 45K

NW - 207K

S&P500 has been pretty flat all year

29 and just blew a huge wad of cash earlier this year on an engagement ring and a wedding soiree.
Currently stock piling cash for a home purchase

IRA - 53K
Cash - 36K
Robinhood (stocks) - 35K
Old 401k - 10K
Current 401k - 95K
ESPP - 51K

NW - 280K

McStache

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Re: Progress for 20 something's
« Reply #253 on: November 02, 2019, 02:33:06 PM »
25, HCOL, renter (3 years into working - tech related field)

401k: $61k
IRAs: $21k
HSA: $2k
Taxable: $50k
Cash: $7k
Debt: $0

Net worth: $141k

I found MMM/the concept of FI two years ago, and was already relatively frugal before that and came out of college without any student loans.  I'm hoping to hit $500k by the time I age out of this post, but it'll be a bit of a stretch.

Almost 1.5 years later... still in the same job in the tech-related field, but now making about $10k higher salary.

26, HCOL, renter (4.5 years into working - tech related field)

401k: $105k
IRAs: $30k
HSA: $7k
Taxable: $120k
Cash: $7k
Debt: $0

Net worth: $269k

I'm about half way to my bare-bones FI number and am definitely feeling the power of having FU money.  I'm more picky with work assignments, have better work/life boundaries, and take as much time off as I can.

Almost a year later... new job (to quote a thread title: "pay cut, lifestyle dividend"), new city, same old me

27, M/HCOL, renter (5.5 years into working - tech related field)

401k: $127k
IRAs: $41k
HSA: $10k
Taxable: $143k
Cash: $8k
Debt: $0

Net worth: $329k

I took a pay cut to move to a new job and lower (but not low) cost of living city.  It's been a great move - my work/life balance is excellent and I'm learning a ton of new skills and with great coworkers.  With 2.5 years to go until 30, $500k is still looking plausible, but it will definitely depend on what the market does between now and then.

I guess it's time for another update!

28, M/HCOL, renter (6.5 years into working, tech related field)

401k: $162k
IRAs: $55k
HSA: $15k
Taxable: $171k
Cash: $9k
Debt: $0

Net worth: $412k

I'm still really enjoying my not-so-new job.  The pay cut was absolutely worth it.  Work pays for me to take classes, so I'm also now enrolled in a masters program, so that keeps life quite busy.  I do occasionally get the itch to take really large chunks of time off to go adventure, but I think I'll delay that for another couple years until I'm done with grad school.

Sometimes I ponder buying a home/condo, and it's definitely plausible that I take the plunge sometime in the next year.  The area I live in is not far from family, so odds are high I'll have roots here for a long time.  On the other hand, I can't confidently say that I'll be living here in 3 years or that I have any idea what I'll be doing in 3 years.  Those two thoughts compete quite a bit.  If the right place comes along, I may jump on the home-owner train, but if not, I'll keep enjoying my apartment life.

Looking back at a year of net worth growth is crazy! It's gone up about as much as my gross salary.  Compounding is definitely magic.  It looks like 500K by 30 is still achievable.  If markets hold, I should hit that around this time next year, but that's a big if.

kissthesky

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Re: Progress for 20 something's
« Reply #254 on: November 10, 2019, 11:39:18 AM »
Great to see other young mustachians here! Most friends my age think I'm nuts.

27 years old, F
Statistician @ tech company
HCOL area

Cash: $45k
Brokerage: $130k
401ks: $180k
IRAs: $40k
HSA: $15k
Real estate: $100k

Net worth: ~$510k

Excited that I hit the 500k milestone last month! Just gotta keep going... we can do it :)

Update a year later: hit $750k! Also projecting double comma club by the end of next year (!)

Love seeing everyone else's progress :) keep it up y'all!!

Update a year later (#s as of July 2019, 29.8yo so my last update):
Cash: $50k
Brokerage: $314k
401k: $339k
IRAs: $34k
HSA: $28k
House: $255k

-- Net Worth: >$1M !! :) (includes real estate)

Pretty proud of myself to have reached double comma club before 30! My saving rate is has been 75%-86% the whole time. Big salary jumps the past 3 years have helped a lot too. I will be pretty close to hitting my fire # in the next few years but need to figure out family situation first because that might double the #.

But alas, I have now aged out of this thread. Good luck to the 20-somethings!! Start early & keep on keepin' on! Ride those bicycles, cook your own food, live with roommates, and work smarter not harder :)

McStache

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Re: Progress for 20 something's
« Reply #255 on: November 10, 2019, 01:51:52 PM »

Update a year later (#s as of July 2019, 29.8yo so my last update):
Cash: $50k
Brokerage: $314k
401k: $339k
IRAs: $34k
HSA: $28k
House: $255k

-- Net Worth: >$1M !! :) (includes real estate)

Pretty proud of myself to have reached double comma club before 30! My saving rate is has been 75%-86% the whole time. Big salary jumps the past 3 years have helped a lot too. I will be pretty close to hitting my fire # in the next few years but need to figure out family situation first because that might double the #.

But alas, I have now aged out of this thread. Good luck to the 20-somethings!! Start early & keep on keepin' on! Ride those bicycles, cook your own food, live with roommates, and work smarter not harder :)

Congrats!! That's some pretty amazing savings for a 20 something (even if only for a couple more months)!

DarkandStormy

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Re: Progress for 20 something's
« Reply #256 on: December 24, 2019, 10:40:10 AM »
Hey ya'll, forgot to mention I graduated from this thread (I'm old!).  If we call my net worth at 20 $0 (it may have been slightly more or less, depending on loans at the time), then I "graduated" with a net worth of around $285k.  The bulk of that progress was made in the last 2 to 2.5 years, though on Personal Capital, I see my net worth was around $40k 5 years ago.  Since crossing into my 30s it's actually gone up to $345k.  So some 425% growth in net worth the last 5 years.  Anyway, good luck to all!

TyGuy

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Re: Progress for 20 something's
« Reply #257 on: December 28, 2019, 12:23:23 PM »
Stumbled across this page today, excited to join others my age!

25 y.o., M, single

Current Net Worth: $287 (Reached a positive net worth this month, began the year at -35K)
Current salary: ~80K per year (will increase 10K this coming spring)

I will update this with more detailed numbers at a later time but I am planning to buy a house this spring/summer. I have a current savings rate of ~65% of my income (most of which is going towards student loan debt).

CanyonMan

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Re: Progress for 20 something's
« Reply #258 on: May 30, 2020, 12:45:34 AM »
11 months or so. Time to necro this thread for a COVID markets update.

Cash/savings/misc: 12K (no real change from last update)
Taxable Investment: 55K (+6K from last update, was much higher, but then COVID hit the markets.)
Retirement + IRA: 152K (+25K from last update, was much higher, but then COVID hit the markets.)
HSA: 5.5K (+0.5K from last update).
Home Equity: 296K (+111K, but that's mostly from the market still rising rapidly).
---
Net worth including house: +/- 517K (+139K since last update)
Net worth without house: +/- 222K (+ 29K since last update)

Kinda just keepin' on. a 30K increase is pretty disappointing to see, but I think it would have been more like 100K pre-covid. It will all come back over time, just kinda a pain in the ass to see in the short term.


13 months and other people are bumping the thread, so I guess it's time for another update.

Cash/savings/misc: 12k (-13K from last update)
Taxable Investment: 49K (+11K from last update)
Retirement + IRA: 127K (+27K from last update)
HSA: 5K (+3.5K from last update).
Home Equity: 185K
---
Net worth including house: +/- 378K (+78K since lastupdate)
Net worth without house: +/- 193K (+ 28K since last update)


We're on a good path, but TBH it's gotten pretty boring. It's a good problem to have, it's just hard to be excited when the stache is all set up to be automatic. Direct deposits, automated investment purchases, etc. It just all kinda ticks away in the background.

One unexpected side effect of the stache is that money has lost all excitement. A 2% performance bonus at work used to be an exciting thing. Now it's just kinda a "Thanks, I'll throw it on the pile" experience. No excitement, and since it's it's not even half of one percent of net it's just a rounding error that is invisible by the end of the month.

When paired up with my partner's staching, if we continue at our current $ rate per month we'll hit a million by 2030ish. Realistically that number will increase over time though, since our spending doesn't increase much and we're already living on significantly less than we earn even without the investment returns. So the horizon may be much closer than it looks. 

Our FIRE number is about 775K based on our current expenses, with a "Tat FIRE" number around a million, which would basically fund near-constant "western world standards" adventures all over the world until we decided to settle down again. 

No one around us knows the specifics of our FIRE plans, so I guess I'll come here to share my joy for the day.

Cracked $300,000 net with my paycheck deposit today!

Cash/savings/misc: 25k
Taxable Investment: 39K
Retirement + IRA: 100K
HSA: 1.5K
Home Equity: 135K (Probably closer to 190K based on today's prices)
---
Net worth including house: +/- 300K. (16% increase over July 2017)
Net worth without house: +/- 165K. (31% increase over June 2016)

Not as good as the year before, because I'm being conservative on the home value. Otherwise it would look like this:
Net worth including house: +/- 355K. (38% increase over July 2017)


Short term goals: Find a way to lower costs. We lost a long term room mate about a year back and haven't filled back in behind him because we don't know anyone else well enough to want to live with them. That's $8,400 of income we passed up for privacy. It's nice to be able to have the option, but that money would also be very nice to still have.....

Long term goals are kinda Meh. Reevaluating what I'm doing with my life right now, so hard to figure out what direction is worth going in the long run. Very glad that I've got the stache to have lots of options though.

1-year (ish) update.

Cash/savings: 20k
Taxable Investment: 35K
Retirement + IRA: 70K
HSA: 1K
Home Equity: 132K (Massive jump due to appreciation)
---
Net worth including house: +/- 258K. (140% increase over June 2016)
Net worth without house: +/- 126K. (58% increase over June 2016)

Completed 2016 goal: Successfully got out of PMI via a refi to take advantage of home appreciation. (Went from 92% LTV to 62% LTV on paper overnight). When paired with the lower interest rate (3.75 vs 4.25) the payback period for the upfront costs was <6 months.

Long term goal: Still looking at a worst-case scenario of FIRE at 40, but more realistically it's going to be 36ish at the current rate. A job change would likely shorten the time frame drastically because of the low pay of my current position (Relative to other similar jobs in the area) but I've got some serious Stockholm syndrome going on with my employer. We'll see what the next year brings though.

26, male. Living in a high cost of living area.

Cash/savings: 18k
Taxable Investment: 22K
Retirement: 40K
Home Equity: 28K
---
Net worth: +/- 107K.

My sub 2-year goal is to get out of the PMI payments on the house. I'm only at 92% LTV, so almost 29K left to go. Once that's done I'll still have $192k in house debt, but the mortgage is at a low enough interest rate it doesn't make sense to pay it off faster.

My Long term goal is FIRE by 40, but I think I'll be ahead of that schedule. I also have a significant other who thinks the mustachian cult of personality is silly, but is very much on-board with reaching FI quickly so she can focus on a career path she deeply cares about, even if it's not fiscally beneficial.

TyGuy

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Re: Progress for 20 something's
« Reply #259 on: June 07, 2020, 10:03:39 AM »
Stumbled across this page today, excited to join others my age!

25 y.o., M, single

Current Net Worth: $287 (Reached a positive net worth this month, began the year at -35K)
Current salary: ~80K per year (will increase 10K this coming spring)

I will update this with more detailed numbers at a later time but I am planning to buy a house this spring/summer. I have a current savings rate of ~65% of my income (most of which is going towards student loan debt).

I've forgotten about this thread but I am excited to post my progress. Additionally, I am purchasing my first home this month and my net worth will temporarily decrease due to using fund towards a down payment. This money will not be lost as it will become home equity, but I will not be tracking it in my net worth. Additionally, my salary is now around 90k a year, but my savings rate will likely stay the same this year as I plan to make a few improvements to the house, furthering my equity.


Net Worth per Personal Capital:

03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: $237 ($1,910) (First day of having a positive net worth)
01/03/20: $1,447 ($1,210)
02/02/20: $5,209 ($3,762)
03/03/20: $5,821 ($612)
04/03/20: $5,001 (-$820)
05/04/20: $10,739 ($5,738)
06/05/20: $18,006 ($7,267)


I hope to maintain constant posting to this thread in the coming months, and I look forward to hearing about your progress.

Herbert Derp

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Re: Progress for 20 something's
« Reply #260 on: June 20, 2020, 07:34:13 PM »
I turn 30 in a few months, so this story is almost over. It's been a wild ride!

Age: 22
11/23/2012: $45,000.00
08/03/2013: $100,000.00

Age: 25
01/01/2016: $408,896.04

Age: 26
01/01/2017: $617,283.09
06/06/2017: $758,104.40

Age: 27
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32

Age: 28
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50
07/07/2019: $1,519,162.03

Age: 29
12/14/2019: $1,628,320.78
01/01/2020: $1,705,284.27
02/02/2020: $1,838,397.87
02/13/2020: $1,961,653.87
02/19/2020: $2,000,505.43
04/14/2020: $2,002,087.12
05/09/2020: $2,148,999.11
06/20/2020: $2,471,306.02
« Last Edit: June 20, 2020, 07:36:23 PM by Herbert Derp »

oily_stache

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Re: Progress for 20 something's
« Reply #261 on: June 21, 2020, 03:09:03 PM »
First post!
Age 28, 29 in less than a month
Single

Assets
Condo $340k
Car ~$4k
Investments ~ $80k
Retirement Funds ~ $60k
Cash ~15k
No debt/mortgage

Pretty much at the $500k  NW mark. Lived at home through school (undergrad +grad) and saved scholarship and internship money during school. Started full time job in 2012 (~$100k/year + bonus - pre tax). Lived mostly a MMM lifestyle prior to finding MMM. Currently at about 70% post tax save rate, expecting FI in 5-8 years depending on market/FI definition, but maybe sooner if I can find a MrsMM.

Since updates are flying, here's mine.
Age 29, 30 in less than a month, and won't be part of this thread anymore.
Less single and dropping hints about MMM.

Assets
Condo $340k (HCOL)
Car ~$3.5k (2005)
Taxable Investments ~ $245k
Retirement Funds ~ $99k (work match/personal)
Cash ~176k (DCA into index funds)
No debt/mortgage

Total NW ~$855k ... The large NW increase is due to inheritance ~250k and continued aggressive savings rate around 78%, another raise, plus market returns. It would seem FI is much closer now (likely within a year or two depending on the market and various calculations). RE is on my mind most days at work but I don't know if I'll do it ASAP or wait OMY.

Definitely not a 20 something, but I thought I'd update anyways for fun/progress.
33 in a month.

Assets
Condo 280K - Property has lost value over time thanks to a local market crash.
Car 2.5K (same 2005!)
Taxable investments $747k
Retirement funds $212k
Local business $30k - Invested as a minority partner in a local business.
Cash $150k - Was higher, but bought heavily into the COVID crash.

Total NW ~$1.4M Canadian. Appears I'm FI as the 4% rule on my investments = ~44k/year, and my yearly expenses have stayed at 24K/year for the past few years. Still working as the SO would like a bit more cash on hand for if/when a little one arrives and yearly expenses increase. In my line of work layoffs are common and there are no other jobs to turn to once you're laid off, so holding on for as long as possible but looking forward to FIRE and/or working for the little business I have invested in. Thankful I've saved and I'm prepared for FIRE.

FIreDrill

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Re: Progress for 20 something's
« Reply #262 on: July 07, 2020, 11:45:10 AM »
I am no longer in my 20's.... Nothing like looking through previous threads to realize you are now really out of your 20's. Kinda depressing getting older but we did make some great progress in our 20's.


End Of
2014-Q1:                $55,471

2014-Q4:                $106,801
2015-Q4:                $203,486
2016-Q4:                $276,375
2017-Q4:                $367,073
2018-Q4:                $394,472
2019-Q4:                $560,195
Current:                  $638,097


Now, off to live my 30's....


TyGuy

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Re: Progress for 20 something's
« Reply #263 on: August 25, 2020, 11:58:06 AM »
@oily_stache @FIreDrill

Thank you both for checking back in with your updated progress, you two have done an exceptional job and I am happy to see you both at a place of financial security/independence as you've entered your 30's. I hope to be following a similar projection as you both, with having financial security as I enter my 30's, and financial independence before leaving my 30's. I imagine my savings will increase exponentially next year as I recently purchased my first home and have made upgrades to significantly decrease expense while building equity. If you are so inclined, I would enjoy hearing more updates from you both in the future!

afuera

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Re: Progress for 20 something's
« Reply #264 on: August 25, 2020, 12:34:45 PM »
I'm 24 and married (DH is 26). We are both engineers.
Checking + Online Savings: $70K
Retirement Accounts: $90K (tIRA-him=$31,400, rIRA-her=$6,700, 401K-her=48,800 HSA-her=2,300)
Taxable Accounts: $0
Debts: $0
NW: 160K

*Note: Our NW is about to plummet to about -$80K as we are buying a house with all of our cash from our online savings.

Everyone has been posting updates so since its been about a year since I posted in this thread, I figured I would too!

Me-25, Hubs-27
Checking + Savings: $10K
Retirement Accounts: $175K
Taxable Accounts: $17K
Home Value: 332K
Mortgage: $265K
NW: 270K,  Stash: 192K
Another year, another update.

Me-26, Hubs-28
Checking + Savings: $10K
Retirement Accounts: $309K
Taxable Accounts: $33K
Home Value: 265K
Mortgage: $259K
NW: 360K,  Stash: 339K

Another year, another update. This is Hubby's last year in his 20s.

27/29
Checking + Savings: $10K
Retirement Accounts (401Ks, IRAs, HSAs, Pension Immediate Lump Sum):  $440K
Taxable Brokerage: $40K
Home Value: $265K
Debts (Mortgage): $254K
NW: $500K, Stash: $460K

4 years of progress is pretty crazy to see.  I turn 29 in a couple months. Our progress will start to slow since we are expecting our first baby in 2021 and my husband will quit work forever to be a SAHP.  He wouldn't be able to do it if we didn't start saving/investing in 2016!

28/30
Checking + Savings: $10K
Retirement Accounts (401Ks, IRAs, HSAs, Pension Immediate Lump Sum):  $617K
Taxable Brokerage: $40K
Home Value: $265K
Debts (Mortgage): $247K
NW: $683K, Stash: $636K

Engineer93

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Re: Progress for 20 something's
« Reply #265 on: August 26, 2020, 05:17:29 AM »
I turn 30 in a few months, so this story is almost over. It's been a wild ride!

Age: 22
11/23/2012: $45,000.00
08/03/2013: $100,000.00

Age: 25
01/01/2016: $408,896.04

Age: 26
01/01/2017: $617,283.09
06/06/2017: $758,104.40

Age: 27
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32

Age: 28
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50
07/07/2019: $1,519,162.03

Age: 29
12/14/2019: $1,628,320.78
01/01/2020: $1,705,284.27
02/02/2020: $1,838,397.87
02/13/2020: $1,961,653.87
02/19/2020: $2,000,505.43
04/14/2020: $2,002,087.12
05/09/2020: $2,148,999.11
06/20/2020: $2,471,306.02

Wow, you're killing it!  I'm 27 with a current NW of about 730k.  Got some work to do.

CanyonMan

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  • Posts: 29
Re: Progress for 20 something's
« Reply #266 on: August 29, 2020, 04:39:10 PM »
Time for me to age out of this thread I guess, so here's my final "20 something" update.

Solo numbers, for easier tracking vs past entries.
Cash/savings/misc: 52K (+34K from last update)
Taxable Investment: 63K (+7K from last update)
Retirement + IRA: 183K (+31K from last update)
HSA: 5.5K (No change from last update).
Home Equity: 270K (-26K, local market cooling during COVID).
---
Net worth including house: +/- 540K (+23K since last update)
Net worth without house: +/- 270K (+ 48K since last update)


And attached is the 4-year comparison because the forum hates tables.






11 months or so. Time to necro this thread for a COVID markets update.

Cash/savings/misc: 12K (no real change from last update)
Taxable Investment: 55K (+6K from last update, was much higher, but then COVID hit the markets.)
Retirement + IRA: 152K (+25K from last update, was much higher, but then COVID hit the markets.)
HSA: 5.5K (+0.5K from last update).
Home Equity: 296K (+111K, but that's mostly from the market still rising rapidly).
---
Net worth including house: +/- 517K (+139K since last update)
Net worth without house: +/- 222K (+ 29K since last update)

Kinda just keepin' on. a 30K increase is pretty disappointing to see, but I think it would have been more like 100K pre-covid. It will all come back over time, just kinda a pain in the ass to see in the short term.


13 months and other people are bumping the thread, so I guess it's time for another update.

Cash/savings/misc: 12k (-13K from last update)
Taxable Investment: 49K (+11K from last update)
Retirement + IRA: 127K (+27K from last update)
HSA: 5K (+3.5K from last update).
Home Equity: 185K
---
Net worth including house: +/- 378K (+78K since lastupdate)
Net worth without house: +/- 193K (+ 28K since last update)


We're on a good path, but TBH it's gotten pretty boring. It's a good problem to have, it's just hard to be excited when the stache is all set up to be automatic. Direct deposits, automated investment purchases, etc. It just all kinda ticks away in the background.

One unexpected side effect of the stache is that money has lost all excitement. A 2% performance bonus at work used to be an exciting thing. Now it's just kinda a "Thanks, I'll throw it on the pile" experience. No excitement, and since it's it's not even half of one percent of net it's just a rounding error that is invisible by the end of the month.

When paired up with my partner's staching, if we continue at our current $ rate per month we'll hit a million by 2030ish. Realistically that number will increase over time though, since our spending doesn't increase much and we're already living on significantly less than we earn even without the investment returns. So the horizon may be much closer than it looks. 

Our FIRE number is about 775K based on our current expenses, with a "Tat FIRE" number around a million, which would basically fund near-constant "western world standards" adventures all over the world until we decided to settle down again. 

No one around us knows the specifics of our FIRE plans, so I guess I'll come here to share my joy for the day.

Cracked $300,000 net with my paycheck deposit today!

Cash/savings/misc: 25k
Taxable Investment: 39K
Retirement + IRA: 100K
HSA: 1.5K
Home Equity: 135K (Probably closer to 190K based on today's prices)
---
Net worth including house: +/- 300K. (16% increase over July 2017)
Net worth without house: +/- 165K. (31% increase over June 2016)

Not as good as the year before, because I'm being conservative on the home value. Otherwise it would look like this:
Net worth including house: +/- 355K. (38% increase over July 2017)


Short term goals: Find a way to lower costs. We lost a long term room mate about a year back and haven't filled back in behind him because we don't know anyone else well enough to want to live with them. That's $8,400 of income we passed up for privacy. It's nice to be able to have the option, but that money would also be very nice to still have.....

Long term goals are kinda Meh. Reevaluating what I'm doing with my life right now, so hard to figure out what direction is worth going in the long run. Very glad that I've got the stache to have lots of options though.

1-year (ish) update.

Cash/savings: 20k
Taxable Investment: 35K
Retirement + IRA: 70K
HSA: 1K
Home Equity: 132K (Massive jump due to appreciation)
---
Net worth including house: +/- 258K. (140% increase over June 2016)
Net worth without house: +/- 126K. (58% increase over June 2016)

Completed 2016 goal: Successfully got out of PMI via a refi to take advantage of home appreciation. (Went from 92% LTV to 62% LTV on paper overnight). When paired with the lower interest rate (3.75 vs 4.25) the payback period for the upfront costs was <6 months.

Long term goal: Still looking at a worst-case scenario of FIRE at 40, but more realistically it's going to be 36ish at the current rate. A job change would likely shorten the time frame drastically because of the low pay of my current position (Relative to other similar jobs in the area) but I've got some serious Stockholm syndrome going on with my employer. We'll see what the next year brings though.

26, male. Living in a high cost of living area.

Cash/savings: 18k
Taxable Investment: 22K
Retirement: 40K
Home Equity: 28K
---
Net worth: +/- 107K.

My sub 2-year goal is to get out of the PMI payments on the house. I'm only at 92% LTV, so almost 29K left to go. Once that's done I'll still have $192k in house debt, but the mortgage is at a low enough interest rate it doesn't make sense to pay it off faster.

My Long term goal is FIRE by 40, but I think I'll be ahead of that schedule. I also have a significant other who thinks the mustachian cult of personality is silly, but is very much on-board with reaching FI quickly so she can focus on a career path she deeply cares about, even if it's not fiscally beneficial.
« Last Edit: August 29, 2020, 04:42:02 PM by CanyonMan »

Herbert Derp

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  • Location: United States
Re: Progress for 20 something's
« Reply #267 on: August 31, 2020, 05:42:17 PM »
My 20s are essentially over. This is it for me! Somehow, I ended up with way more money than I thought I would going in to all of this.

Age: 22
11/23/2012: $45,000.00
08/03/2013: $100,000.00

Age: 25
01/01/2016: $408,896.04

Age: 26
01/01/2017: $617,283.09
06/06/2017: $758,104.40

Age: 27
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32

Age: 28
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50
07/07/2019: $1,519,162.03

Age: 29
12/14/2019: $1,628,320.78
01/01/2020: $1,705,284.27
02/02/2020: $1,838,397.87
02/13/2020: $1,961,653.87
02/19/2020: $2,000,505.43
04/14/2020: $2,002,087.12
05/09/2020: $2,148,999.11
06/20/2020: $2,471,306.02
07/01/2020: $2,632,979.23
07/02/2020: $2,721,395.70
07/10/2020: $3,098,138.96
08/14/2020: $3,243,042.90
08/31/2020: $4,134,844.24

Manchester

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  • Posts: 282
  • Location: UK
Re: Progress for 20 something's
« Reply #268 on: September 16, 2020, 07:51:32 AM »
My 20s are essentially over. This is it for me! Somehow, I ended up with way more money than I thought I would going in to all of this.

Age: 22
11/23/2012: $45,000.00
08/03/2013: $100,000.00

Age: 25
01/01/2016: $408,896.04

Age: 26
01/01/2017: $617,283.09
06/06/2017: $758,104.40

Age: 27
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32

Age: 28
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50
07/07/2019: $1,519,162.03

Age: 29
12/14/2019: $1,628,320.78
01/01/2020: $1,705,284.27
02/02/2020: $1,838,397.87
02/13/2020: $1,961,653.87
02/19/2020: $2,000,505.43
04/14/2020: $2,002,087.12
05/09/2020: $2,148,999.11
06/20/2020: $2,471,306.02
07/01/2020: $2,632,979.23
07/02/2020: $2,721,395.70
07/10/2020: $3,098,138.96
08/14/2020: $3,243,042.90
08/31/2020: $4,134,844.24

Wow you've smashed it, well done.  You made nearly $1m in 16 days?!

How did you hit those types of figures?  What do you do for a living?

lv2glrfy

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  • Posts: 89
  • Location: Atlanta, GA
Re: Progress for 20 something's
« Reply #269 on: September 16, 2020, 01:54:01 PM »
Glad I found this place!! Hello, fellow youngins! (Admittedly, I felt a bit decrepit this year as I turned a quarter of a century, but I think some of that had to do with being stuck in a neverending quarantine with lots of post-pandemic goals swimming in my head.)

25 year old here with a lovely 28 year old husband.

Cash: ~12,000
Investments: 48,000
401k: ehh, somewhere from 10-20k between the two of us
Home Value: 220,000 value-183,000 left=37,000 if we're going by the current Zestimate. Which can be notoriously inaccurate.

I make 40k/year and DH makes 48k. It's getting hard to lower our expenses much more, so my big FIRE goal right now is to look at ways to increase my salary. DH is a happily starving artist, but I never wanted to be in the field I'm in, so there's no reason for me stay in it at this pay rate. Fingers crossed for a good break somewhere!