What age did you reach 100K networth?

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tim1999
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Re: What age did you reach 100K networth?

Post by tim1999 » Fri Jun 14, 2013 8:39 pm

Somewhere around 22-23. All my own money, and I didn't even live in California or work in tech! :P

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Re: What age did you reach 100K networth?

Post by Grt2bOutdoors » Fri Jun 14, 2013 8:40 pm

Age 30 - and yes, the first 50K to 100K is the hardest especially when single, after that it gets progressively easier so long as you continue to add to the pot in a prudent manner. Buy, hold and rebalance does work.
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HomerJ
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Re: What age did you reach 100K networth?

Post by HomerJ » Fri Jun 14, 2013 9:05 pm

I was worth -50k at 28.... I was worth 150k at 29...

Married a woman with 200k in retirement savings.

Paid off the 50k in debt by 31 or so, had 100k in "my" IRA by 36 or so...

jollystomper
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Re: What age did you reach 100K networth?

Post by jollystomper » Fri Jun 14, 2013 9:08 pm

Including the net value of our home, age 31.

Not including the net value of our home (savings/investments minus non-mortgage debt), age 35. Fortunately for me that was 1993, and both my salary and the market took off after that.

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market timer
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Re: What age did you reach 100K networth?

Post by market timer » Fri Jun 14, 2013 9:42 pm

Age 32. This thread makes me feel even poorer than the net worth thread showing half of you are millionaires.

nikoncfa
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Re: What age did you reach 100K networth?

Post by nikoncfa » Fri Jun 14, 2013 9:57 pm

25 in 2012. not including hard assets :sharebeer

tjt2013
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Re: What age did you reach 100K networth?

Post by tjt2013 » Fri Jun 14, 2013 10:22 pm

35. No regrets though - had a great 20s/early 30s.

menlo
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Re: What age did you reach 100K networth?

Post by menlo » Fri Jun 14, 2013 10:40 pm

Around age 28 or so.

MnD
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Re: What age did you reach 100K networth?

Post by MnD » Fri Jun 14, 2013 11:00 pm

27-28 around 1990 all in financial assets. Married right out of college but held off on kids and home purchase for 7 years - covering age 23-30.
Both working full time so were saving around 30% in those years _and_ spending way more than we were accustomed to versus college student budgets.
Good times! :beer
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red5
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Re: What age did you reach 100K networth?

Post by red5 » Sat Jun 15, 2013 5:01 am

Actually, just last month. 31.

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Fieldsy1024
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Re: What age did you reach 100K networth?

Post by Fieldsy1024 » Sat Jun 15, 2013 6:40 am

Do you include your home in your net worth?

Lets say my house is worth 200,000 and I paid 50k already towards it.

Would this be -150k net worth or plus 50k?

texasred
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Re: What age did you reach 100K networth?

Post by texasred » Sat Jun 15, 2013 7:22 am

I am guessing around 38-40. That was in 1985.

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House Blend
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Re: What age did you reach 100K networth?

Post by House Blend » Sat Jun 15, 2013 7:33 am

Maybe a better way to normalize the question is to ask at what age your net worth reached 2x your gross annual wages. (Regarding $50K as an "average" wage today.)

My answer: dunno. Don't have good records going that far back, but probably it was sometime during my 20s.

Dopey
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Re: What age did you reach 100K networth?

Post by Dopey » Sat Jun 15, 2013 7:42 am

Not including mortgage or equity: Age 26

Including mortgage and equity: On track for age 29

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Re: What age did you reach 100K networth?

Post by bungalow10 » Sat Jun 15, 2013 7:43 am

September 2005. I was 26.
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FedGuy
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Re: What age did you reach 100K networth?

Post by FedGuy » Sat Jun 15, 2013 7:44 am

29. Now, at age 39, I'm gradually closing in on $1 million, but a lot of that is from market appreciation over the last few years and unlikely to continue at that rate.

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DaleMaley
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Re: What age did you reach 100K networth?

Post by DaleMaley » Sat Jun 15, 2013 8:06 am

I had to use the online inflation calculator to figure this one out.

I hit $100K in 2012 dollars back in 1981 when I was 26 years old (it only took $37,219 back then).

I used......

http://www.westegg.com/inflation/

inflation calculator.

I was surprised at the impact of inflation over 31 years, but it works out to a compounded inflation rate of 3.24%
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Bacchus01
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Re: What age did you reach 100K networth?

Post by Bacchus01 » Sat Jun 15, 2013 8:14 am

Don't have records back then and didn't track, but I'd say probably around 28, which would have been around 2001.

Fast forward 12 years and it is nearly 15X that.

gerntz
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Re: What age did you reach 100K networth?

Post by gerntz » Sat Jun 15, 2013 8:37 am

$100K ain't what it used to be. Corrected for the dollar's lost purchasing power, about age 28/29.

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DaleMaley
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Re: What age did you reach 100K networth?

Post by DaleMaley » Sat Jun 15, 2013 8:43 am

Out of curiousity, I tallied up the poll results so far......

Here is a link to the Excel file........

https://dl.dropboxusercontent.com/u/346 ... 062013.xls

Here is the Excel chart:


Image

I suspect the average age is actually a year or two lower than 29 because many older posters did not factor in inflation.
Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees. – Warren Buffett

Johm221122
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Re: What age did you reach 100K networth?

Post by Johm221122 » Sat Jun 15, 2013 8:53 am

I was 35
John

goldendad
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Re: What age did you reach 100K networth?

Post by goldendad » Sat Jun 15, 2013 9:17 am

About age 35.

avalpert
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Re: What age did you reach 100K networth?

Post by avalpert » Sat Jun 15, 2013 9:44 am

Fieldsy1024 wrote:Do you include your home in your net worth?

Lets say my house is worth 200,000 and I paid 50k already towards it.

Would this be -150k net worth or plus 50k?
You would have a $200,000 asset towards your total net worth and if you have a mortgage the value of that would count as liability against your net worth.

So if I am reading you correctly, you have a $200,000 asset (the house) and a $150,000 liability (mortgage) for a net value of $50,000.

skylar
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Re: What age did you reach 100K networth?

Post by skylar » Sat Jun 15, 2013 10:40 am

Looks like I crossed it around the beginning of 2008, so 23.

inbox788
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Re: What age did you reach 100K networth?

Post by inbox788 » Sat Jun 15, 2013 11:03 am

avalpert wrote:
Fieldsy1024 wrote:Do you include your home in your net worth?

Lets say my house is worth 200,000 and I paid 50k already towards it.

Would this be -150k net worth or plus 50k?
You would have a $200,000 asset towards your total net worth and if you have a mortgage the value of that would count as liability against your net worth.

So if I am reading you correctly, you have a $200,000 asset (the house) and a $150,000 liability (mortgage) for a net value of $50,000.
Do you mean you paid 50k in payments or have 50k in equity? On a 30 year mortgage, the vast majority of payments goes towards interest, so your net worth might only be $10k or less. If you have a 15 year mortgage, about 50% of the payment goes towards interest, so you still only have $25k in net worth.

Do you count 401k differently than Roth? Because of pre-tax deferment, 401k could get you there about 30% faster, but transfers the tax liability to future.

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Rob54keep
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Re: What age did you reach 100K networth?

Post by Rob54keep » Sat Jun 15, 2013 11:22 am

Approx. 33-35

Ignis
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Re: What age did you reach 100K networth?

Post by Ignis » Sat Jun 15, 2013 11:38 am

I am 27 and expect that I will hit $100k net worth (liquid, no home) for the first time around the first of the year.

QBoy
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Re: What age did you reach 100K networth?

Post by QBoy » Sat Jun 15, 2013 11:46 am

27, several decades ago

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OnFire
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Re: What age did you reach 100K networth?

Post by OnFire » Sat Jun 15, 2013 2:13 pm

If you include my nuclear family, my wife, the kids, etcetera, I think it might have been just been in the last year at age 38. My wife came out of dental school ten years ago with $150K in student loans, a $25K car note, and about $10K in credit cards. She was living in a rented high-rise condo on Lake Shore drive. I've slowly broken her of her habits, and now we are maxing out our Roth's and own rental property.

For just me, it was probably around 32-33. I had a good nest egg, plenty of home equity, and was making a good salary. I basically bailed her out financially and got sucked into the big wedding/big engagement ring/big honeymoon trap. I definitely took a hit when I loaned her the money to buy a dental practice. This was probably my financial nadir. We've made a good comeback though.

If you count just liquid investments for me personally, it will probably be in the next couple of months. She has about the same in her name.
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jcw
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Re: What age did you reach 100K networth?

Post by jcw » Sat Jun 15, 2013 3:16 pm

I made it in cash by around age 26. Then I bought a house and later paid 200k for an MBA. Now I'm $85k in debt but my 401k/IRA still have over $100k in them. Long term buy and hold did work!

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Toons
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Re: What age did you reach 100K networth?

Post by Toons » Sat Jun 15, 2013 3:20 pm

Around 1985- 35 years of age :happy
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investingdad
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Re: What age did you reach 100K networth?

Post by investingdad » Sat Jun 15, 2013 3:20 pm

Probably late 20s around 2000 or so.

It seemed like a big goal at the time.

We're now at the point were a great week or an awful week can swing us by a 100k. Amazing.

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Regal 56
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Re: What age did you reach 100K networth?

Post by Regal 56 » Sat Jun 15, 2013 5:16 pm

Okay, I'll skew the data a bit. I'm 57, and I still haven't hit $100,000. Didn't wake up financially until I hit 50, when I asked myself: "So what are you going to do when you're 75? Live in a cardboard box and eat rats?" Surprisingly, things got better sooner than I imagined they would. For one thing, I took a job that offers a decent pension plan. And I'm saving far more than I initially thought I could. So although I started late, things might turn out okay if all goes well. With savings, pension, and Social Security, I'll muddle through.

Perhaps there are others in the shallow end of the money pool who read this forum. I don't want them to think they're the only financial featherweights in Boglehead Land. And it should be said that starting late is better than never starting at all.

But I'm glad I read this thread. Judging from the posts here, I'm now thinking my guitar and I should move to a ritzy retirement village and rely on playing for food.

Juniormint
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Re: What age did you reach 100K networth?

Post by Juniormint » Sat Jun 15, 2013 5:23 pm

24 now, and should be on track (fingers crossed) to hit 100K at 25.

4ransom
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Re: What age did you reach 100K networth?

Post by 4ransom » Sat Jun 15, 2013 5:47 pm

Proably about 30. Have been broke twice since then, but have let an interesting life. Now 65 worth about 2 mil and settling into retirement.

ge1
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Re: What age did you reach 100K networth?

Post by ge1 » Sat Jun 15, 2013 5:52 pm

31 when I got married :happy

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ScarletIris
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Re: What age did you reach 100K networth?

Post by ScarletIris » Sat Jun 15, 2013 6:25 pm

December 2012 - age 28; not bad considering I had a -$100k net worth in May 2010.

Waterboy
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Re: What age did you reach 100K networth?

Post by Waterboy » Sun Jun 16, 2013 1:04 am

Counting home equity, January 2012, age 28.

Not counting home equity, March 2013, age 30.

I hope to hit $100k in my retirement accounts by this time next year, which I'll accomplish if the market stays flat or goes up.

mbenz1997
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Re: What age did you reach 100K networth?

Post by mbenz1997 » Sun Jun 16, 2013 1:22 am

I believe it was about 3 years ago while I was still in residency at the age of 29. Rounding the 400k mark this summer. Wish I had learned of bogleheads years ago, probably would have crossed these marks 1-2 years sooner. Live and learn.

awval999
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Re: What age did you reach 100K networth?

Post by awval999 » Sun Jun 16, 2013 1:54 am

Reading this forum is just crazy to see how self-selective the audience is.

The median American family has a total net worth of $77K
http://www.federalreserve.gov/pubs/bull ... /scf12.pdf (Page 17)

I'm reading and the average Boglehead had a net worth of $100K by age 29? Hilarious.

michaelsieg
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Re: What age did you reach 100K networth?

Post by michaelsieg » Sun Jun 16, 2013 7:11 am

When I was born, almost 50 years ago...

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Hexdump
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Re: What age did you reach 100K networth?

Post by Hexdump » Sun Jun 16, 2013 8:18 am

45 and I went from 0 to 100k in 5 years. It's amazing what an international assignment can do to your finances.

ddunca1944
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Re: What age did you reach 100K networth?

Post by ddunca1944 » Sun Jun 16, 2013 1:42 pm

market timer wrote:Age 32. This thread makes me feel even poorer than the net worth thread showing half of you are millionaires.
Well I was in my 40's before my IRA account hit $100K. Hopefully that will make you feel better.

LFKB
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Re: What age did you reach 100K networth?

Post by LFKB » Sun Jun 16, 2013 1:49 pm

23 by myself. On pace to reach 1 million at 27 between the two of us without any inheritance.

te5486a
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Re: What age did you reach 100K networth?

Post by te5486a » Sun Jun 16, 2013 2:11 pm

I hit 100K in early February of this year at 25 years of age. Decent job, living below my means, this forum, and a bull market all helped. :sharebeer

NOLA
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Re: What age did you reach 100K networth?

Post by NOLA » Sun Jun 16, 2013 2:55 pm

Not sure since had some stocks that family bought long time ago. So maybe 20-25, but it wasn't thanks to me. My wife is now 32 & I'm 33 and we have around triple that amount including home equity. Would have been more if I would have met you guys earlier.

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ray.james
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Re: What age did you reach 100K networth?

Post by ray.james » Sun Jun 16, 2013 3:06 pm

started -40K and on the way to be there by year end 2014 at age 29 :)
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Re: What age did you reach 100K networth?

Post by DVMResident » Sun Jun 16, 2013 3:08 pm

I crossed the $100k line at 28 while still in veterinary residency/getting a PhD. How? By living nearly rent free by house sitting for my uncle who lives out of the country and realizing it was the once in a lifetime opportunity chance to save 77% of my income for 3 years. Well, and reading lots of Boglehead threads :beer

At 30, the opportunity ended and I bought my own house. Now my net worth is negative because of the mortgage, but climbing faster because the mother-in-law rental covers the interest and than some. A step back in "net-worth" for a steeper slope, which should pay off in the long term.

justus
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Re: What age did you reach 100K networth?

Post by justus » Sun Jun 16, 2013 3:13 pm

awval999 wrote:Reading this forum is just crazy to see how self-selective the audience is.

The median American family has a total net worth of $77K
http://www.federalreserve.gov/pubs/bull ... /scf12.pdf (Page 17)

I'm reading and the average Boglehead had a net worth of $100K by age 29? Hilarious.
What's so funny? Tragic maybe.

jim47
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Re: What age did you reach 100K networth?

Post by jim47 » Sun Jun 16, 2013 3:21 pm

Getting $100,000 is quite easy. Start with $200,000 and work your way down.

There is a moral to this paraphrase of an old joke. It is not what you make so much as it is how much you avoid losing through bad investments. Just save regularly, be a passive buy and hold investor and you will do fine. Good luck !

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