Share your net worth progression

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nchowrin
Posts: 35
Joined: Mon Jun 30, 2014 8:47 am

Re: Share your networth progression

Post by nchowrin » Tue Nov 25, 2014 11:42 am

I retired in 2003, age 52, but I don't have good records going back that far.

2005 - $742,201
2006 - $824,859
2007 - $894,782
2008 - $614,095 (Recession)
2009 - $1,539,940 (Home Sale)
2010 - $1,674,272
2011 - $1,697,002
2012 - $1,869,612
2013 - $2,200,708
2014 - $2,350,585 (YTD)

Also note that I've been living exclusively off my portfolio, with no other income, since I retired in 2003. I've spent approximately $500K since retirement.

keith6014
Posts: 159
Joined: Thu Jan 02, 2014 11:58 pm

Re: Share your story of how you got wealthy

Post by keith6014 » Mon Dec 01, 2014 10:54 pm

Professor Emeritus wrote:Would never claim I was wealthy but
I suggest
1) marry the right partner
2) Live in the same house for 34 years
3) work very hard at your profession
4) live below your means and save prodigiously
5) never listen to or pay a dime to a broker or other thief


#1 matters the most. :-)


21 -> Undergraduate. First real job. Had around 35k cash. Didn't know what retirement meant :D
22 -> Started with 401k. Maxed out since. I think 14k at the time.
27 -> Bought condo at market peak; Lost 35% on if value. No refinancing would help since I was WAY under water. Stuck with my plan with 401k.
28 -> Got married. I want to reiterate #1 again
29 -> Started a Taxable account; Played safe with just municipal bond fund.
30 -> Started to invest more in a Taxable account. 90% stock. individual stocks. I wanted to learn about security analysis so I wanted to get my hands dirty. 10% municipal bond funds. I don't regret it. I know people here have a fetish about passive index funds.
31 -> Picked up pace in Taxable account. 95% stock and 5% bond.
32 -> Payed off the mortgage :twisted: Take that BANK!
33 -> $750k (including 401k, taxable account and a conservative estimate on my condo. I have a car which is 11 years ago so its worth $0 :| ). The only problem is we live in a High Cost of Living Area :oops: . North New Jersey.

Starting from 32. I got advise to pay off my mortgage. Well worth it!

I would switch #3 with, go to a great recognized school (try to be instate). Working hard in your profession isn't all that worthwhile. Pick a profession thats practical is perhaps more important; I too like to travel (listen hotel management majors), listen to music (music majors, art majors) but I know doing the boring job ( accounting, finance/technology ) will put oats on the table AND I still enjoy the experiences of travel, music, art, and especially FOOD!

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market timer
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Re: Share your networth progression

Post by market timer » Mon Dec 01, 2014 11:28 pm

My progression:

1/1/09: -$210K (started working this year)
1/1/10: -$120K
1/1/11: -$35K
1/1/12: $150K
1/1/13: $300K
1/1/14: $510K
8/1/14: $690K (retired)

I averaged income a bit over $200K/year and had substantial investment/trading gains to help. If you include my wife's assets, we are over $1mn.

TradingPlaces
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Re: Share your networth progression

Post by TradingPlaces » Mon Dec 01, 2014 11:38 pm

What is the point of this thread? And I am not being sarcastic.

letsgobobby
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Re: Share your networth progression

Post by letsgobobby » Tue Dec 02, 2014 1:21 am

nchowrin wrote:
2008 - $614,095 (Recession)
2009 - $1,539,940 (Home Sale)


Your net worth rose $900,000 in 1 year; you attribute that to a home sale. However a home sale doesn't affect net worth. It just shifts numbers around in an assets/liabilities spreadsheet, but the total of all the numbers should be the same.

travellight
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Location: San Diego

Re: Share your networth progression

Post by travellight » Tue Dec 02, 2014 2:46 am

Picking the wrong spouse did have a deleterious effect on my net worth progression.

WorkToLive
Posts: 568
Joined: Thu Nov 12, 2009 2:19 pm

Re: Share your networth progression

Post by WorkToLive » Tue Dec 02, 2014 8:03 am

letsgobobby wrote:
nchowrin wrote:
2008 - $614,095 (Recession)
2009 - $1,539,940 (Home Sale)


Your net worth rose $900,000 in 1 year; you attribute that to a home sale. However a home sale doesn't affect net worth. It just shifts numbers around in an assets/liabilities spreadsheet, but the total of all the numbers should be the same.


Might be due to carrying the cost of the home on the balance sheet until the sale showed the actual value.

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Artsdoctor
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Location: Los Angeles, CA

Re: Share your networth progression

Post by Artsdoctor » Tue Dec 02, 2014 8:36 pm

This is easy. Only one thing, really: SAVE.

From late 30s to early 50s, we tried to save about 35% of our gross income. In some years, it was much more. I worked overtime during the 2008-2009 collapse in order to save like a crazy bandit because I didn't know how long the meltdown would last and I was not happy with my shrinking portfolio. I played with my own mind: by shoveling cash into the portfolio, it made the balance appear to be falling much less precipitously. I kept the same asset allocation but just kept buying and buying more equities because their balances were vanishing like sand. I also kept a diary so I would never forget that feeling. It was truly awful but it was an incredibly valuable and worthwhile experience.

Last year was the first year that our investments returned more than our salaries. I've really cut back on equities because I just don't need them as much, and I don't want that gut-churning experience I went through five years ago.

LFKB
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Re: Share your networth progression

Post by LFKB » Tue Dec 02, 2014 9:56 pm

market timer wrote:My progression:

1/1/09: -$210K (started working this year)
1/1/10: -$120K
1/1/11: -$35K
1/1/12: $150K
1/1/13: $300K
1/1/14: $510K
8/1/14: $690K (retired)

I averaged income a bit over $200K/year and had substantial investment/trading gains to help. If you include my wife's assets, we are over $1mn.


Your working career was under 6 years? How old are you? Is your wife still working? Seems like a very small amount to retire off of if you're young.

Luv2savmoney
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Joined: Tue May 06, 2014 7:35 am

Re: Share your networth progression

Post by Luv2savmoney » Tue Dec 02, 2014 9:58 pm

Simple Simon wrote:Started tracking household net wealth 10 years ago:

12-31-2003, $334K
12-31-2004, $408K
12-31-2005, $507K
12-31-2006, $624K
12-31-2007, $736K
12-31-2008, $599K,
12-31-2009, $790K
12-31-2010, $899K
12-31-2011, $1088K
12-31-2012, $1294K
12-13-2013, $1679K

Before that, I did not keep records. But here are some estimates.

12-31-1997, $10K (estimate) - this was the year I started work
12-31-1998, $35K (estimate)
12-31-1999, $65K (estimate)
12-31-2000, $100K (estimate)
12-31-2001, $230K (estimate - inherited $80K this year)
12-31-2002, $290K (estimate)

In terms of advice, I don't have much to offer above what has been said already. Choose the right parents. One house, one spouse.

Like many on this board I have been a slow and steady accumulator. My wife and I are well paid for our work. For example:

2013, gross household income $230K
2012, $262K
2011, $282K

We live OK but use some restraint in spending. I know because we track this too. For example:

2013, gross household expenditure $111K
2012, $109K
2011, $119K

Reading "Money or your life" and "Millionaire next door" shaped my views on personal finance, and these days MrMoneyMustache


How exactly you propose we do that?

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market timer
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Re: Share your networth progression

Post by market timer » Tue Dec 02, 2014 10:47 pm

LFKB wrote:
market timer wrote:My progression:

1/1/09: -$210K (started working this year)
1/1/10: -$120K
1/1/11: -$35K
1/1/12: $150K
1/1/13: $300K
1/1/14: $510K
8/1/14: $690K (retired)

I averaged income a bit over $200K/year and had substantial investment/trading gains to help. If you include my wife's assets, we are over $1mn.


Your working career was under 6 years? How old are you? Is your wife still working? Seems like a very small amount to retire off of if you're young.

I worked 5 years and retired at 34 (spent a long time in school). My spending, including childcare, comes to $20-25K/year, with a paid off house. So, I believe $690K is a reasonable nest egg to fund my retirement with a 3-4% withdrawal rate. These numbers are very similar to the Mr Money Mustache guy. Will definitely continue monitoring my investments, and potentially get a real job again if necessary. However, I'm hoping to do something more creative than a normal office job going forward, and maybe earn some income from that. My wife works and funds her spending with her income. We keep assets separate.

LFKB
Posts: 420
Joined: Mon Dec 24, 2012 7:06 pm

Re: Share your networth progression

Post by LFKB » Tue Dec 02, 2014 11:23 pm

/.[/quote]

Your working career was under 6 years? How old are you? Is your wife still working? Seems like a very small amount to retire off of if you're young.[/quote]
I worked 5 years and retired at 34 (spent a long time in school). My spending, including childcare, comes to $20-25K/year, with a paid off house. So, I believe $690K is a reasonable nest egg to fund my retirement with a 3-4% withdrawal rate. These numbers are very similar to the Mr Money Mustache guy. Will definitely continue monitoring my investments, and potentially get a real job again if necessary. However, I'm hoping to do something more creative than a normal office job going forward, and maybe earn some income from that. My wife works and funds her spending with her income. We keep assets separate.[/quote]

Gotcha. Seems reasonable if you only require $20-$25k. It's interesting that you're essentially funding your own retirement while your wife continues to work separately but only for herself. Out of curiosity, what is your AA?

TradingPlaces
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Re: Share your networth progression

Post by TradingPlaces » Wed Dec 03, 2014 12:03 am

#1. Go to the best school that you can get into,
#2. Major in the highest, in expected income, field,
#3. Work your ass of in school. Do multiple internships with high profile companies,
#4. Pick a job / profession that would maximize income,
#5. Don't stay in the same job too long. Statistics show you will be underpaid,
#6. Pick a good balance between high cost of living cities and low employment centers,
#7. Be aggressive with your investments early on,
#8. Don't marry,
#9. Don't have kids.
#10. Live like a homeless person.

You can't beat #1-#10.

Since boglehead philosophy emphasizes living below your means, I think one can live off $20-25K per year, maybe even less, depending on cost-of-living, and other considerations. At the very frugal end, one can probably live at $10K a year. At $20-25K /Y spending level, having about $700-$800K should be enough to retire. 5-8 years should be enough to save that much.

At $10K spending level, 5 years tops should be enough to retire.

TradingPlaces
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Location: 30.286029, -97.530011

Re: Share your networth progression

Post by TradingPlaces » Wed Dec 03, 2014 12:05 am

market timer wrote:
LFKB wrote:
market timer wrote:My progression:

1/1/09: -$210K (started working this year)
1/1/10: -$120K
1/1/11: -$35K
1/1/12: $150K
1/1/13: $300K
1/1/14: $510K
8/1/14: $690K (retired)

I averaged income a bit over $200K/year and had substantial investment/trading gains to help. If you include my wife's assets, we are over $1mn.


Your working career was under 6 years? How old are you? Is your wife still working? Seems like a very small amount to retire off of if you're young.

I worked 5 years and retired at 34 (spent a long time in school). My spending, including childcare, comes to $20-25K/year, with a paid off house. So, I believe $690K is a reasonable nest egg to fund my retirement with a 3-4% withdrawal rate. These numbers are very similar to the Mr Money Mustache guy. Will definitely continue monitoring my investments, and potentially get a real job again if necessary. However, I'm hoping to do something more creative than a normal office job going forward, and maybe earn some income from that. My wife works and funds her spending with her income. We keep assets separate.


+1. Can't get any more boggle-headian than that.

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market timer
Posts: 5788
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Re: Share your networth progression

Post by market timer » Wed Dec 03, 2014 12:27 am

LFKB wrote:Gotcha. Seems reasonable if you only require $20-$25k. It's interesting that you're essentially funding your own retirement while your wife continues to work separately but only for herself. Out of curiosity, what is your AA?

Yeah, it works for us. My AA varies quite a bit. Over the long run, I expect to track something like 40% equities, 40% bonds, 20% commodities, hopefully with some alpha.

scrabbler1
Posts: 1905
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Re: Share your networth progression

Post by scrabbler1 » Wed Dec 03, 2014 7:04 pm

TradingPlaces wrote:#1. Go to the best school that you can get into,
#2. Major in the highest, in expected income, field,
#3. Work your ass of in school. Do multiple internships with high profile companies,
#4. Pick a job / profession that would maximize income,
#5. Don't stay in the same job too long. Statistics show you will be underpaid,
#6. Pick a good balance between high cost of living cities and low employment centers,
#7. Be aggressive with your investments early on,
#8. Don't marry,
#9. Don't have kids.
#10. Live like a homeless person.

You can't beat #1-#10.

Since boglehead philosophy emphasizes living below your means, I think one can live off $20-25K per year, maybe even less, depending on cost-of-living, and other considerations. At the very frugal end, one can probably live at $10K a year. At $20-25K /Y spending level, having about $700-$800K should be enough to retire. 5-8 years should be enough to save that much.

At $10K spending level, 5 years tops should be enough to retire.


I can't say I agree with all 10 items, but #8 and especially #9 are spot on!

Jguild2120
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Re: Share your networth progression

Post by Jguild2120 » Wed Dec 03, 2014 7:33 pm

Our parents gave us many things including love, sheltered, moral values and an education through high school. After leaving home (me 18 years, DW 19 years) they gave us good advice only. Everything else we did ourselves, the two of us, working together day-after-day, year-after-year.

I have always managed the investments (I buy & hold) and I brought home the majority of the income. My wife manages the home, the bills, the taxes and makes monetary distributions as needed (charities, home repairs, vacations, etc). Every month I take her through our financial ‘score card’ so that she fully understands our investments and net worth.

My income over the last 35 years has been above average; there are plenty of people who make more than I. That’s OK.

We have always LBOM.

Below is our net worth progression (MFs, bonds, stocks & cash). It does not include our home or other property. It does not include my pension or our SS.

1970 No debt, no savings. (I met DW, California surfer girl, the woman of my dreams.)

1974 No debt, no savings. (We married. I graduated with a fines arts degree)

1975 No debt, no savings. (I returned to school to get an engineering degree.)

1978 No debt, no savings. (My daughter was born)

1980 $2,500 student loan, no savings (I graduated with an engineering degree, Cal Poly, San Luis Obispo, CA.)

1981 No debt, no savings. (I started work for Getty Oil, Bakersfield, CA, later Texaco, later Chevron. Now with ExxonMobil.)

1982 No debt except for a mortgage, no savings. (My son was born. 13% interest rate on the mortgage!)

1983-1990 No debt except mortgage, (Saved for children’s college education)

1990 Started a retirement savings account at the age of 39.

1994 $113,310, No debt except mortgage

1995 $132,510, No debt except mortgage

1996 $158,431, No debt except mort gage

1997 $314,898, No debt except mortgage

1999 $576,296, No debt except mortgage

2000 $836,242, No debt except mortgage

2001 $883,588, No debt, paid off mortgage

2002 $786,366 (2001 Dotcom crash)

2003 $718,297 (2002 Bear Market)

2004 $575,726, No debt

2005 $657,183, No debt

2007 $861,600, No debt

2008 $1,091,025, No debt

2009 $787,662, No debt (2008 housing crash)

2010 $1,016,886, No debt

2011 $1,162,312, No debt

20012 $1,332,212, No debt

2013 $1,454,688, No debt

2014 $1,778,683, No debt

Currently: $2,422,139 ***

***Funny story: I have never paid attention to our bank checking or savings account. That is just a place where my pay checks go after deductions (Taxes, Health Insurance, 401K savings, etc.). My wife manages the bank accounts. She has been telling me for many years that she’s been stashing away money in the bank account just in case we needed it; she buys CDs. I’ve never asked her for details and we have never needed this money. Several months ago she again told me she had been putting away money; I could tell that she wanted me to ask her ‘how much have you saved? So, I finally did. She said that over the last 25 years she has saved a total $500,180. I was flooded. I gave her a hug and a kiss and we spit a nice bottle of red wine. I’m so lucky to have her in my life!

I have 12 months more to work until retirement....Hey Hey!!!
John Guild

Pizzasteve510
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Re: Share your networth progression

Post by Pizzasteve510 » Wed Dec 03, 2014 7:54 pm

scrabbler1 wrote:
TradingPlaces wrote:#1. Go to the best school that you can get into,
#2. Major in the highest, in expected income, field,
#3. Work your ass of in school. Do multiple internships with high profile companies,
#4. Pick a job / profession that would maximize income,
#5. Don't stay in the same job too long. Statistics show you will be underpaid,
#6. Pick a good balance between high cost of living cities and low employment centers,
#7. Be aggressive with your investments early on,
#8. Don't marry,
#9. Don't have kids.
#10. Live like a homeless person.

You can't beat #1-#10.

Since boglehead philosophy emphasizes living below your means, I think one can live off $20-25K per year, maybe even less, depending on cost-of-living, and other considerations. At the very frugal end, one can probably live at $10K a year. At $20-25K /Y spending level, having about $700-$800K should be enough to retire. 5-8 years should be enough to save that much.

At $10K spending level, 5 years tops should be enough to retire.


I can't say I agree with all 10 items, but #8 and especially #9 are spot on!


Pretty good list, though I think #8 should be Don't marry the wrong person. A good partner improves your cost of living scale economies.

My addition is to have a plan early. On graduation from school, I set income and net worth targets. For each target I set a min-max range for income and Net Worth. I then started tracking net worth against goals, not obsessively, but once a year.

20s - earn Double my age (nominal circa early/mid 80s), invest 15-20% gross income
30s - earn triple my age, invest 25-35% of gross income
40s - earn quadruple my age, invest 35-50% of gross income
50 - retire with min NW goal of $2M, target goal of $6M, stretch target $10M (nominal $).

I used a retirement needs calculator formula tool published in the WSJ, I think in 1986, to decide $2M and $6M retirement income generating assets needed. Turned 50 this year. Choosing to keep working for now. In range of targets, mostly, though now dropped income targets for lifestyle reasons.

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buckstar
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Re: Share your networth progression

Post by buckstar » Thu Dec 04, 2014 10:54 am

What I have learned most from this thread is that the last 6 years have been very, very good to most people. The number of board members whose NW has gone from under $1M to mutliple millions in that time period is remarkable.

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TheTimeLord
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Re: Share your networth progression

Post by TheTimeLord » Thu Dec 04, 2014 11:24 am

buckstar wrote:What I have learned most from this thread is that the last 6 years have been very, very good to most people. The number of board members whose NW has gone from under $1M to mutliple millions in that time period is remarkable.


Yep, over the last 5 years VTI is up about 110%.

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Run, You Clever Boy!

Call_Me_Op
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Re: Share your networth progression

Post by Call_Me_Op » Thu Dec 04, 2014 12:27 pm

nchowrin wrote:I retired in 2003, age 52, but I don't have good records going back that far.

2005 - $742,201
2006 - $824,859
2007 - $894,782
2008 - $614,095 (Recession)
2009 - $1,539,940 (Home Sale)
2010 - $1,674,272
2011 - $1,697,002
2012 - $1,869,612
2013 - $2,200,708
2014 - $2,350,585 (YTD)

Also note that I've been living exclusively off my portfolio, with no other income, since I retired in 2003. I've spent approximately $500K since retirement.


Impressive growth, given that you have been living off of this money. I would be curious as yo your AA and annual expenses.
Best regards, -Op | | "In the middle of difficulty lies opportunity." Einstein

aw82
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Re: Share your networth progression

Post by aw82 » Thu Dec 04, 2014 2:52 pm

This is all from memory and completely estimated.

2007/24 yo: -$30,000 (Graduated from grad school with student loan debt. Bought a late model used car via loan. Began working at $50k/year salary. Got married.)
2008: -$150,000 (Eligible for 401k at work, started putting 15% away. Bought a house with FHA loan. Got fed homebuyer incentive of $8k. Wife and I working full-time and starting to save, but not a ton.)
2009: -$140,000 (Paid off one car, but totaled the other and had to finance half the cost. Continuing to save.)
2011: -$90,000 (Son born. Saving less now. Paying off debt. 401k growing. Many house repairs.)
2013: $80,000 (Sold house for slight actual profit, but recorded as loss for taxes due to repairs, etc. Moved across country. Started new job with a 50% raise. Wife stopped working. Second child born. Paid off second car.)
2014/31 yo: $120,000 (Sold first car and didn't buy another. Paid off one student loan. Rolled over 401k to Vanguard. Renting and happy.)

From 2008-2013 we owned a house worth about $150,000, so you could say our net worth was around $0 in 2008/2009. Also, I'm not counting the values of our Hondas in any of these numbers.

$120,000 at age 31 doesn't seem like much, but I guess its above the US average at least.

JimmyD
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Re: Share your networth progression

Post by JimmyD » Thu Dec 04, 2014 3:15 pm

Our net worth is skewed much lower than it otherwise would be due to an enormous student loan that will eventually be forgiven (I still count it), but that being said, here's ours:

December 2013 (31 yo): -$78,958 (yes, negative)
December 2014 (32 yo): $19,978 (yes, positive)

Given our savings rate (~30%) I'm excited to watch our net worth progress over time and can't wait to sit back and laugh at that first line item one of these days. :D

JimmyD
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Re: Share your networth progression

Post by JimmyD » Thu Dec 04, 2014 3:27 pm

Jguild2120 wrote:Our parents gave us many things including love, sheltered, moral values and an education through high school. After leaving home (me 18 years, DW 19 years) they gave us good advice only. Everything else we did ourselves, the two of us, working together day-after-day, year-after-year.

I have always managed the investments (I buy & hold) and I brought home the majority of the income. My wife manages the home, the bills, the taxes and makes monetary distributions as needed (charities, home repairs, vacations, etc). Every month I take her through our financial ‘score card’ so that she fully understands our investments and net worth.

My income over the last 35 years has been above average; there are plenty of people who make more than I. That’s OK.

We have always LBOM.

Below is our net worth progression (MFs, bonds, stocks & cash). It does not include our home or other property. It does not include my pension or our SS.

1970 No debt, no savings. (I met DW, California surfer girl, the woman of my dreams.)

1974 No debt, no savings. (We married. I graduated with a fines arts degree)

1975 No debt, no savings. (I returned to school to get an engineering degree.)

1978 No debt, no savings. (My daughter was born)

1980 $2,500 student loan, no savings (I graduated with an engineering degree, Cal Poly, San Luis Obispo, CA.)

1981 No debt, no savings. (I started work for Getty Oil, Bakersfield, CA, later Texaco, later Chevron. Now with ExxonMobil.)

1982 No debt except for a mortgage, no savings. (My son was born. 13% interest rate on the mortgage!)

1983-1990 No debt except mortgage, (Saved for children’s college education)

1990 Started a retirement savings account at the age of 39.

1994 $113,310, No debt except mortgage

1995 $132,510, No debt except mortgage

1996 $158,431, No debt except mort gage

1997 $314,898, No debt except mortgage

1999 $576,296, No debt except mortgage

2000 $836,242, No debt except mortgage

2001 $883,588, No debt, paid off mortgage

2002 $786,366 (2001 Dotcom crash)

2003 $718,297 (2002 Bear Market)

2004 $575,726, No debt

2005 $657,183, No debt

2007 $861,600, No debt

2008 $1,091,025, No debt

2009 $787,662, No debt (2008 housing crash)

2010 $1,016,886, No debt

2011 $1,162,312, No debt

20012 $1,332,212, No debt

2013 $1,454,688, No debt

2014 $1,778,683, No debt

Currently: $2,422,139 ***

***Funny story: I have never paid attention to our bank checking or savings account. That is just a place where my pay checks go after deductions (Taxes, Health Insurance, 401K savings, etc.). My wife manages the bank accounts. She has been telling me for many years that she’s been stashing away money in the bank account just in case we needed it; she buys CDs. I’ve never asked her for details and we have never needed this money. Several months ago she again told me she had been putting away money; I could tell that she wanted me to ask her ‘how much have you saved? So, I finally did. She said that over the last 25 years she has saved a total $500,180. I was flooded. I gave her a hug and a kiss and we spit a nice bottle of red wine. I’m so lucky to have her in my life!

I have 12 months more to work until retirement....Hey Hey!!!


That is just downright awesome. Congratulations to you, sir and enjoy your retirement!! You're an inspiration!

countofmc
Posts: 507
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Re: Share your networth progression

Post by countofmc » Thu Dec 04, 2014 3:38 pm

market timer wrote:
LFKB wrote:
market timer wrote:My progression:

1/1/09: -$210K (started working this year)
1/1/10: -$120K
1/1/11: -$35K
1/1/12: $150K
1/1/13: $300K
1/1/14: $510K
8/1/14: $690K (retired)

I averaged income a bit over $200K/year and had substantial investment/trading gains to help. If you include my wife's assets, we are over $1mn.


Your working career was under 6 years? How old are you? Is your wife still working? Seems like a very small amount to retire off of if you're young.

I worked 5 years and retired at 34 (spent a long time in school). My spending, including childcare, comes to $20-25K/year, with a paid off house. So, I believe $690K is a reasonable nest egg to fund my retirement with a 3-4% withdrawal rate. These numbers are very similar to the Mr Money Mustache guy. Will definitely continue monitoring my investments, and potentially get a real job again if necessary. However, I'm hoping to do something more creative than a normal office job going forward, and maybe earn some income from that. My wife works and funds her spending with her income. We keep assets separate.


Your story reminds me of the retireby40.org guy. I think he did something similar, and wife still works.

I'm hoping to follow a similar path, though at an older age. Hopefully retire by 40-45. I can't stand office jobs. Conversely my wife is one of those weirdos that actually ENJOYS her job and working, so she wants to work until she drops.

Rexindex
Posts: 163
Joined: Sun Mar 20, 2011 7:12 pm

Re: Share your networth progression

Post by Rexindex » Thu Dec 04, 2014 3:51 pm

Got a job and thought it was cool to invest $50/month with the Janus fund, at the time a hot fund. I saw the progression of what 10k would have been if left alone and thought, "gee, this could be a lot of money in 20 years." 25 years later and saving about 20% of my take home has led me to a good amount saved. Married a person who did the same for 20 years before a stay at home mom. Voila....................
“Attention is the rarest and purest form of generosity.” | — Simone Weil

Set40
Posts: 45
Joined: Mon Aug 04, 2014 3:47 pm

Re: Share your networth progression

Post by Set40 » Thu Dec 04, 2014 7:23 pm

I think I have everyone on this thread beat. Only one data point. I am hoping I can repost in a few years to show some progress towards $0.

2014: -$484,767

User avatar
market timer
Posts: 5788
Joined: Tue Aug 21, 2007 1:42 am

Re: Share your networth progression

Post by market timer » Thu Dec 04, 2014 9:42 pm

countofmc wrote:Your story reminds me of the retireby40.org guy. I think he did something similar, and wife still works.

I'm hoping to follow a similar path, though at an older age. Hopefully retire by 40-45. I can't stand office jobs. Conversely my wife is one of those weirdos that actually ENJOYS her job and working, so she wants to work until she drops.

Interesting about the RB40 guy--I hadn't heard of his blog, reading it now. What's funny is how all these stay-at-home dads are now calling themselves retired. When women become SAHMs, I haven't seen it called a retirement. Given the demands of professional jobs, it makes sense for one parent to sacrifice his or her career for the sake of the family. With so many more women enjoying successful careers, I guess a consequence is more SAHDs. Like you, I can't stand office work and have a spouse who enjoys her job.

Tabaxus
Posts: 62
Joined: Sun Aug 19, 2012 10:49 am

Re: Share your networth progression

Post by Tabaxus » Fri Dec 05, 2014 10:04 am

early 2000s (life ins policy from deceased parent while I was in HS): $100k
mid-2000s (finished ug): -$10k (that's what happens when you give a poor kid a pile of money and no guidance--I went to a state school, that's not what drained the cash)
2011: -$200k (finished professional school after working for a bit over a year inbetween)
now: ~$160k, depending on how this year's bonus shakes out and with a 40% downward tax adjustment on the traditional 401k, about $70k in retirement accounts and $90k in cash/Ibonds.

I got terrified around 2009 when I realized (1) just how much debt I was going to have when I finished school and (2) how awful the job market was, as a general matter, particularly in my area. I got lucky and beat the job odds, and live approximately the same lifestyle I did in undergrad (but, by comparison, that is living frugally rather than living FAR beyond my means), sans certain... recreational cash draining activities from my undergrad days that I'm too old and professional for now. And married someone wonderful who doesn't work yet but has given me reason not to be wreckless (proof that marrying the right person can be more beneficial financially than not getting married at all, though the likelihood of a kid in the next year will undo a lot of that)!

jay22
Posts: 699
Joined: Thu Aug 23, 2012 8:56 am
Location: Sacramento, CA

Re: Share your networth progression

Post by jay22 » Fri Dec 05, 2014 6:21 pm

Jguild2120 wrote:Our parents gave us many things including love, sheltered, moral values and an education through high school. After leaving home (me 18 years, DW 19 years) they gave us good advice only. Everything else we did ourselves, the two of us, working together day-after-day, year-after-year.

I have always managed the investments (I buy & hold) and I brought home the majority of the income. My wife manages the home, the bills, the taxes and makes monetary distributions as needed (charities, home repairs, vacations, etc). Every month I take her through our financial ‘score card’ so that she fully understands our investments and net worth.

My income over the last 35 years has been above average; there are plenty of people who make more than I. That’s OK.

We have always LBOM.

Below is our net worth progression (MFs, bonds, stocks & cash). It does not include our home or other property. It does not include my pension or our SS.

1970 No debt, no savings. (I met DW, California surfer girl, the woman of my dreams.)

1974 No debt, no savings. (We married. I graduated with a fines arts degree)

1975 No debt, no savings. (I returned to school to get an engineering degree.)

1978 No debt, no savings. (My daughter was born)

1980 $2,500 student loan, no savings (I graduated with an engineering degree, Cal Poly, San Luis Obispo, CA.)

1981 No debt, no savings. (I started work for Getty Oil, Bakersfield, CA, later Texaco, later Chevron. Now with ExxonMobil.)

1982 No debt except for a mortgage, no savings. (My son was born. 13% interest rate on the mortgage!)

1983-1990 No debt except mortgage, (Saved for children’s college education)

1990 Started a retirement savings account at the age of 39.

1994 $113,310, No debt except mortgage

1995 $132,510, No debt except mortgage

1996 $158,431, No debt except mort gage

1997 $314,898, No debt except mortgage

1999 $576,296, No debt except mortgage

2000 $836,242, No debt except mortgage

2001 $883,588, No debt, paid off mortgage

2002 $786,366 (2001 Dotcom crash)

2003 $718,297 (2002 Bear Market)

2004 $575,726, No debt

2005 $657,183, No debt

2007 $861,600, No debt

2008 $1,091,025, No debt

2009 $787,662, No debt (2008 housing crash)

2010 $1,016,886, No debt

2011 $1,162,312, No debt

20012 $1,332,212, No debt

2013 $1,454,688, No debt

2014 $1,778,683, No debt

Currently: $2,422,139 ***

***Funny story: I have never paid attention to our bank checking or savings account. That is just a place where my pay checks go after deductions (Taxes, Health Insurance, 401K savings, etc.). My wife manages the bank accounts. She has been telling me for many years that she’s been stashing away money in the bank account just in case we needed it; she buys CDs. I’ve never asked her for details and we have never needed this money. Several months ago she again told me she had been putting away money; I could tell that she wanted me to ask her ‘how much have you saved? So, I finally did. She said that over the last 25 years she has saved a total $500,180. I was flooded. I gave her a hug and a kiss and we spit a nice bottle of red wine. I’m so lucky to have her in my life!

I have 12 months more to work until retirement....Hey Hey!!!

You, good sir, are an inspiration. Many congrats and hope you have a great retirement when you get there!

Castanea_d.
Posts: 163
Joined: Fri Dec 05, 2014 9:14 pm

Re: Share your networth progression

Post by Castanea_d. » Fri Dec 05, 2014 10:32 pm

I didn't keep good records until I read the book “Your Money or Your Life” in 1999, so everything before that is very approximate.

1984 is a good place to start: just married (and still married to the same wonderful lady), new job. Salary about $25,000, debts around $10,000 (student loan, car loan). No savings. New job has defined benefit pension plan.

About 1988 – Debts paid off, small emergency fund in place.
About 1990 – Bought house: $20,000 mortgage at 10%. Still essentially no savings except for emergency fund.

Worked hard at early payments on the mortgage; paid off in 1995. After that, started to buy U.S. Savings Bonds, especially the new Series I bonds.

1997 – First equity investment: $3,000 in the Vanguard Equity Income Fund.

1998 – New job in another state. Sold house for $35,000, bought a house for cash in the new town (about $40,000).

2000 – Job fizzles. Sold house for about $30,000, found a new job in another state. Combined salaries about $45,000. Decided to rent instead of buying.
Net worth passes $100,000.

This job has a 403(b) defined contribution plan with Fidelity: I have contributed ever since, increasing the amount by whatever raises have come my way. For many years, this was 100% equities. Still putting money in the Equity Income Fund and buying Savings Bonds. By this time, we have a few other taxable mutual funds as well.

2001 – Open a Roth IRA with Vanguard; 100% in the Wellington Fund. It stays this way for many years, with the maximum contribution each year.

2003 – We pass $200,000. I quit buying Savings Bonds, but we have collected about $50,000 of them.
2006 - $300,000
2007 - $350,000, before the balance starts going the other direction for a while.
2009 – back up to $350,000
2010 – receive an inheritance of $250,000 from my mother, may she rest in peace. Net worth passes $650,000.
2011 - $700,000
2012 - $750,000
2013 - $800,000. Our Equity Income fund becomes Admiral.

There is also that defined benefit pension from my job in the 1980s/90's, which is slated to pay about $5500/year at age 65.

Currently age 60, no debts, investments worth about $830,000. We could retire on this, but we are both still enjoying our work. I am a church organist/choirmaster. Since we have plenty of money now, our allocation is much more conservative than it used to be.

I have enjoyed reading about everyone else's experiences.

madbrain
Posts: 4490
Joined: Thu Jun 09, 2011 5:06 pm
Location: San Jose, California

Re: Share your networth progression

Post by madbrain » Fri Dec 05, 2014 10:53 pm

TradingPlaces wrote:#1. Go to the best school that you can get into,
#2. Major in the highest, in expected income, field,
#3. Work your ass of in school. Do multiple internships with high profile companies,
#4. Pick a job / profession that would maximize income,
#5. Don't stay in the same job too long. Statistics show you will be underpaid,
#6. Pick a good balance between high cost of living cities and low employment centers,
#7. Be aggressive with your investments early on,
#8. Don't marry,
#9. Don't have kids.
#10. Live like a homeless person.

You can't beat #1-#10.

Since boglehead philosophy emphasizes living below your means, I think one can live off $20-25K per year, maybe even less, depending on cost-of-living, and other considerations. At the very frugal end, one can probably live at $10K a year. At $20-25K /Y spending level, having about $700-$800K should be enough to retire. 5-8 years should be enough to save that much.

At $10K spending level, 5 years tops should be enough to retire.


I didn't do #1, #2 or #3. High school dropout here actually. And never aspired to go to any particular school.
#4 happened by chance more than choice.
#5 I agree with . I have quit and come back a few times just to get raises. I may do it yet again.
#6 I didn't give it much thought
#7 it didn't help. Early risk when starting to invest in 1998 didn't really pay off.
#8 too late
#9 did that :)
#10 couldn't disagree more.

I don't think one could hold a job literally living like a homeless person.
Think not being presentable, health problems that would ensue from not having shelter, etc.

You only live once. Some live shorter lives than others. This is not really predictable. That needs to be taken into account.
IMO, spending many years while young working miserable but living like a homeless person does not provide a good life balance.
I don't think that should be a bogleheads value.

Living below your means, yes, but that is not at all the same thing.

ikubak
Posts: 22
Joined: Mon Feb 16, 2009 12:00 pm

Re: Share your networth progression

Post by ikubak » Sat Dec 06, 2014 10:09 am

My story is in some ways very similar to Louis2 but also very different

1. Born white male in the 20th century in the US. Healthy my whole life so far.
Born hispanic male, 20th century in US. Never thought I was any different than anyone else because my skin was darker and I spoke two languages. Healthy so far.
2. Raised by stable loving parents who valued hard work and insisted on good grades.
Raised in broken home, father not present during HS years.
3. "You are good at math and science, you should become an engineer"
"If you keep your mouth shut, no one will know how stupid you are." - I kept my mouth shut.
4. Married a hard working, low spending, fun and loving spouse. Two children, healthy and hard working, only semi-spoiled.
Married a hard working, low spending, fun, beautiful, loving spouse. One son, healthy and hardworking - my greatest accomplishment. Couldn't have done it without my wife.
5. 28 years at big company, good salary, great benefits
Multiple jobs and companies after first college degree. Went back to college at 31, Accounting degree w 4.0 ave., became CPA. Finally stayed with one company long enough to vest in pension.
6. Joined company match savings on first day, 100% stock, never touched it. Maxed company match then slowly increased % saved over time.
Always joined company match and contributed to IRAs.
7. Some hard work, lots of luck and timing, regular promotions up to VP
Hard work, lots of luck and timing, irregular promotions to Manager.
8. Not Boglehead philosopy per se, but certainly low churn, diversified investment
Mostly Boglehead philosophy.

If the OP is emphasizing savings, I would say I saved 20% of a very good salary my whole life. Always saved in company plan, plus always saved bonuses, windfalls, stock options, etc.

Keys to my success: Marry the right spouse, save and invest in low cost mutual funds from an early age, LBYM, invest time in raising a good son.

DA200
Posts: 102
Joined: Fri Feb 06, 2015 3:47 pm

Re: Share your networth progression

Post by DA200 » Mon May 11, 2015 2:41 pm

I have been keeping track of my networth fairly regularly since I began my career in 1993. This past week my mom was cleaning out her attic and found a box with all of my childhood financial records (savings books, T-Bill and CD records, etc.) starting from 1 year of age. I decided to add this data to my current excel spreadsheet so that I have data for all 48 years of my life. I was looking for a BH thread to post and found this one. Graphing this data makes me realize how thankful I am for the following:
1) Parents that always stressed saving, education, and budgeting.
2) A very generous gift to me from a grandparent for $8500 in 1976. We put the money in T-bonds and 10 years later it paid for my entire BS in engineering.
3) PhD in engineering paid for by the university. Allowed me to pursue a research career I really enjoy with no debt starting out.
4) Marrying a caring honest woman raised by parents that stressed education, saving, and investing.
5) 11 years of marriage without children which allowed us to grow our investments quickly and provide time to focus on our careers and hobbies.
6) Adopting and raising a child later in life with no worries over money.
2009 was a big hit to our investments, but we continued dumping money into the market which has put us in a comfortable position. I also noticed from the graph that there are very few data points in 2008-2010. I must not enjoy recording networth when the market is down 50%....

Image

FiveDriver
Posts: 67
Joined: Sat Apr 25, 2015 9:47 am
Location: Charleston, SC

Re: Share your networth progression

Post by FiveDriver » Mon May 11, 2015 3:34 pm

When I met my future wife in 1978 I had $400 to my name. Being of like minds, we got this thing called marriage started. We bought a condo, watched it double in value and then sold it to buy a Single Family Home with 20% down, I landed a good job which gave me a great overview of the High Tech Stock Boom of the first Bull Market. Let's just say that the 80's and 90's were very good to us. Our Net Worth crossed into 7-figure territory in 2002. The smartest move we made was avoiding the blowup in 2008 -- lucky, more than smart.

sharpjm
Posts: 653
Joined: Fri Feb 20, 2015 2:41 pm

Re: Share your networth progression

Post by sharpjm » Mon May 11, 2015 4:01 pm

Very interesting and encouraging thread for those of us early in our career.

After a few years of excess spending I broke even ~18 months ago. Now ramping up net worth at a rate of ~$25k/year. That should increase every year with raises and should further increase once I no longer rent.

Bacchus01
Posts: 1017
Joined: Mon Dec 24, 2012 9:35 pm

Re: Share your networth progression

Post by Bacchus01 » Mon May 11, 2015 4:26 pm

TradingPlaces wrote:#1. Go to the best school that you can get into,
#2. Major in the highest, in expected income, field,
#3. Work your ass of in school. Do multiple internships with high profile companies,
#4. Pick a job / profession that would maximize income,
#5. Don't stay in the same job too long. Statistics show you will be underpaid,
#6. Pick a good balance between high cost of living cities and low employment centers,
#7. Be aggressive with your investments early on,
#8. Don't marry,
#9. Don't have kids.
#10. Live like a homeless person.

You can't beat #1-#10.

Since boglehead philosophy emphasizes living below your means, I think one can live off $20-25K per year, maybe even less, depending on cost-of-living, and other considerations. At the very frugal end, one can probably live at $10K a year. At $20-25K /Y spending level, having about $700-$800K should be enough to retire. 5-8 years should be enough to save that much.

At $10K spending level, 5 years tops should be enough to retire.


#1 - Did not do that
#2 - Did not do that
#3 - Worked hard, never did an internship
#4 - Went into a low income job
#5 - Did this, a lot. Average a new job about every year or so
#6 - I never even bothered to look at this. Just took the jobs and make it work. And it did.
#7 - Not aggressive. Didn't even really pay attention to them until almost 40
#8 - Married 17 years
#9 - Have 3 kids
#10 - live like I can and enjoy it.

Those are silly. Just plain silly. Could you do that? Sure, but I did virtually none of that but am yet a 1% by income and wealth definition at 41.

Traveller
Posts: 595
Joined: Sat Jun 25, 2011 10:47 am

Re: Share your networth progression

Post by Traveller » Mon May 11, 2015 4:27 pm

I've only tracked since 1/2007. I can guess a starting number of $0 in 1993 when I was one year out of college and just drained my savings to pay off student loans.

January
1993 $0
...
2007 $250,538
2008 $315,649
2009 $351,306
2010 $585,688
2011 $670,171
2012 $781,338
2013 $1,031,978
2014 $1,307,844
2015 $1,666,621
today $1,825,650

All the major advice items I'd have to offer have already been said repeatedly - especially the right spouse, avoiding debt, and live below your means. I spent far too long NOT saving much and spending WAY too much on silly things. My wife stopped working very early in our marriage when we had kids, so all savings was done via my income but I cannot overstate the importance of she and I being on the same financial page. What saved our bacon was first, having done very well in my career compensation wise, and second we never went into debt except mortgages (man those were some nasty cars early on). I am embarassed how little we had accumulated by 2007 given our income up to that point, but I am very pleased with the path we are now on. My only regret is not getting focused earlier.

bandoba
Posts: 84
Joined: Thu Apr 08, 2010 12:51 am

Re: Share your networth progression

Post by bandoba » Mon May 11, 2015 5:11 pm

Traveller wrote:I've only tracked since 1/2007. I can guess a starting number of $0 in 1993 when I was one year out of college and just drained my savings to pay off student loans.

January
1993 $0
...
2007 $250,538
2008 $315,649
2009 $351,306
2010 $585,688
2011 $670,171
2012 $781,338
2013 $1,031,978
2014 $1,307,844
2015 $1,666,621
today $1,825,650

All the major advice items I'd have to offer have already been said repeatedly - especially the right spouse, avoiding debt, and live below your means. I spent far too long NOT saving much and spending WAY too much on silly things. My wife stopped working very early in our marriage when we had kids, so all savings was done via my income but I cannot overstate the importance of she and I being on the same financial page. What saved our bacon was first, having done very well in my career compensation wise, and second we never went into debt except mortgages (man those were some nasty cars early on). I am embarassed how little we had accumulated by 2007 given our income up to that point, but I am very pleased with the path we are now on. My only regret is not getting focused earlier.


Really impressive. Thanks for sharing. If you don't mind would you share you AA? My numbers are somewhat similar but not as impressive despite starting with higher amount at 2007. This could be result of additional money as well as AA. So just curious to see if our AA ratio is similar. My S:B ratio is 70:30. Thanks.

jay22
Posts: 699
Joined: Thu Aug 23, 2012 8:56 am
Location: Sacramento, CA

Re: Share your networth progression

Post by jay22 » Mon May 11, 2015 5:18 pm

Traveller wrote:I've only tracked since 1/2007. I can guess a starting number of $0 in 1993 when I was one year out of college and just drained my savings to pay off student loans.

January
1993 $0
...
2007 $250,538
2008 $315,649
2009 $351,306
2010 $585,688
2011 $670,171
2012 $781,338
2013 $1,031,978
2014 $1,307,844
2015 $1,666,621
today $1,825,650

All the major advice items I'd have to offer have already been said repeatedly - especially the right spouse, avoiding debt, and live below your means. I spent far too long NOT saving much and spending WAY too much on silly things. My wife stopped working very early in our marriage when we had kids, so all savings was done via my income but I cannot overstate the importance of she and I being on the same financial page. What saved our bacon was first, having done very well in my career compensation wise, and second we never went into debt except mortgages (man those were some nasty cars early on). I am embarassed how little we had accumulated by 2007 given our income up to that point, but I am very pleased with the path we are now on. My only regret is not getting focused earlier.

250K to more than 1.5 Million in 9 years? Amazing.

rgs92
Posts: 1317
Joined: Mon Mar 02, 2009 8:00 pm

Re: Share your networth progression

Post by rgs92 » Mon May 11, 2015 5:26 pm

Net worth is a totally slippery thing. Is your 401K measured before or after taxes due if you liquidated it? And at what age? And over what period?
Is a Roth IRA worth what it says if the earnings are within 5 years of earning them?
If I buy a fixed annuity with a million dollars, is that million in my net worth? And if so, does it change if interest rates change?
(A $1000 a month is worth a lot less if, say, the 10 year bond is yielding 6% vs. 2%.)
Is your house or other real estate included? That's a huge can of worms.
Oh, and then there is your debt to consider.
So, is net worth the same as liquidation value, which takes into account, taxes, penalties, the cost of selling real estate (commissions, etc.)?

Traveller
Posts: 595
Joined: Sat Jun 25, 2011 10:47 am

Re: Share your networth progression

Post by Traveller » Mon May 11, 2015 5:42 pm

bandoba wrote:Really impressive. Thanks for sharing. If you don't mind would you share you AA? My numbers are somewhat similar but not as impressive despite starting with higher amount at 2007. This could be result of additional money as well as AA. So just curious to see if our AA ratio is similar. My S:B ratio is 70:30. Thanks.


Sure. Since being "Bogletized" in 2011, I've been steady at 70/30 - nothing special there. Prior to that I was all over the map but mostly 100% equities (although I did it with bad / active funds and individual stocks) and generally chasing performance.

As I said, my income outpaced my spending and there have been some big lumps I've added whenever I received them, so the net worth graph doesn't necessarily match the return of a static portfolio.

Traveller
Posts: 595
Joined: Sat Jun 25, 2011 10:47 am

Re: Share your networth progression

Post by Traveller » Mon May 11, 2015 5:48 pm

jay22 wrote:250K to more than 1.5 Million in 9 years? Amazing.


Income has risen a bunch during that period but we have kept out spending pretty much flat.

DFrank
Posts: 474
Joined: Thu Mar 20, 2014 10:44 pm
Location: SoCal

Re: Share your networth progression

Post by DFrank » Mon May 11, 2015 6:00 pm

rgs92 wrote:Net worth is a totally slippery thing. Is your 401K measured before or after taxes due if you liquidated it? And at what age? And over what period?
Is a Roth IRA worth what it says if the earnings are within 5 years of earning them?
If I buy a fixed annuity with a million dollars, is that million in my net worth? And if so, does it change if interest rates change?
(A $1000 a month is worth a lot less if, say, the 10 year bond is yielding 6% vs. 2%.)
Is your house or other real estate included? That's a huge can of worms.
Oh, and then there is your debt to consider.
So, is net worth the same as liquidation value, which takes into account, taxes, penalties, the cost of selling real estate (commissions, etc.)?


I suspect most of us simplify this quite a bit:

1. I count 401k/IRA accounts at their current value. You could just as well ask the same question about any fund holding that has unrealized cap gains.
2. I include the estimated value of real estate we own.
3. Of course debt is included in the calculation.
4. I haven't thought about how to address annuities since I don't have one.
Dave

Traveller
Posts: 595
Joined: Sat Jun 25, 2011 10:47 am

Re: Share your networth progression

Post by Traveller » Mon May 11, 2015 6:06 pm

DFrank wrote:I suspect most of us simplify this quite a bit:

1. I count 401k/IRA accounts at their current value. You could just as well ask the same question about any fund holding that has unrealized cap gains.
2. I include the estimated value of real estate we own.
3. Of course debt is included in the calculation.
4. I haven't thought about how to address annuities since I don't have one.


Bingo - that is what I do also. I include current value of investment and bank accounts plus (extremely conservative) home value plus cash/bank accounts minus debt (mortgage in my case). I do not include cars, jewelry, etc. Just the big rocks.

playtothebeat
Posts: 262
Joined: Thu Jan 24, 2013 12:39 pm
Location: southern california

Re: Share your networth progression

Post by playtothebeat » Mon May 11, 2015 6:09 pm

My wife and I will likely have a negative networth for several more years as a result of ~$130k of law school debt which my wife still has, in addition to consumer debt (including unexpected medical and family-related expenses which could not be avoided) she had prior to meeting me and didn't realize the importance of paying down. Since we met 5 years ago, however, she has paid off just about all her CC debt with her own money before we got married, and we are in the process of (hopefully) refinancing our house in order to start building some equity (as opposed to having a high interest only loan circa 2005/2006 from her original purchase of the house), and have been saving diligently into the 401k. If things go well, I can see us having a very manageable mortgage as our only debt in the next 4-5 years.

Thus, I'll have to update you in a few years!

tj
Posts: 1898
Joined: Thu Dec 24, 2009 12:10 am

Re: Share your networth progression

Post by tj » Tue May 12, 2015 12:14 am

I didn't start really keeping track until the middle of 2010 at the age of 25.

7/1/10 - $44k
1/1/11 - $69k (I think this increase is a combination of bull market and I bought a new car towards the end of 2010)
1/1/12 - $79k (In late '11 I refinanced condo loan from 30 year 5.25% to 15 year 3.625%)
1/1/13 - $132k (Have to assume that this is mostly from the stock market
1/1/14 - $232k (Most of this was from fairly significant appreciation in my condo)
1/1/15 - $251k (Most of 2014, I worked part time for lower salary with a long expensive commute - lived by the beach. That I still managed to grow my Net worth by 10% seems a bit shocking.

Starting in Feb '15, I went back to full time and moved closer to work. expenses are down, income is up and more funds are getting invested. If the markets cooperate, I just might hit $500k by the end of 2018, which would be far more than I ever expected that I would have in my mid 30's.)

My original goal to retire was $500k + a paid off real estate. That seemed so far off when I started working, but seems very doable when thinking I should work to some degree at least until my late 40s or early 50s. Especially if I remain single or pair up with someone on the same page.

That being said, I'd much rather be emotionally and romantically connected with someone then spend my life collecting assets.

I've never made more than $75k in a single year, and most years it was closer to half of that. Almost all of this is luck of starting my career in March of 2009....the rock bottom of the equity markets, buying real estate in 2010 - close to the bottom of the real estate bust. and riding out an aggressive asset allocation. It could have easily turned out the opposite.

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Christine_NM
Posts: 2537
Joined: Tue Feb 20, 2007 1:13 am
Location: New Mexico

Re: Share your networth progression

Post by Christine_NM » Tue May 12, 2015 12:45 am

6/1965 - BA
12/1965 - working but $0 net worth
12/1966 - $300.00 .. fast forward to
12/1980 $30k including an IRA and some stocks in a taxable account, 401k added in 1983
12/1987 finished MBA while working full time
12/1995 $120k
12/1998 $350k
12/1999 $500k
12/2004 $800k - retirement
12/2007 $1.2m
12/2008 $1.5m - includes $800k inheritance
12/2011 $2.2m
12/2014 $2.8m
10% cash 45% stock 45% bond. Retired, w/d rate 1.5%

TroyMcClure
Posts: 66
Joined: Sun Aug 31, 2014 6:13 am
Location: Germany

Re: Share your networth progression

Post by TroyMcClure » Tue May 12, 2015 10:03 am

I find this post very interesting. Of course it's not entirely meaningful without knowing additional details about COLA, salary, etc., still, useful.

I haven’t been keeping a precise track of my net worth, but the following is estimated and from memory. I am European, all figures in Euros:

Born in 1979
Early 80s: My parents set up a savings account for me, and make various small contributions to it throughout the years. They nicely taught me and my siblings about what saving and spending meant in the long run.
2001: ~10k EUR. I put my university studies on hold to go and work abroad.
2003: ~20k EUR. After working a low-level, low wage job, I decide to quit and go back to university. I also decide to travel in LatAm for 6 months before doing so.
2004: ~15k EUR. Back at university. Lucky to get some financial help from the family.
2007: ~10k EUR. Finished with master’s degree.
2008: ~6k EUR. Struggling to find a job and a country to settle in but eventually managed, ended up in Germany. I started contributing to a couple of company pension plan options, enough to get the max employer grant.
2010: ~50k EUR.
2012: ~100k EUR. Might have been end of 2011. Accepted expat assignment in November 2012 in South East Asia.
2015 05 01: 212k EUR.

I only started investing in index funds of equities and bonds, outside of my company plans, last year.

hawkfan55
Posts: 177
Joined: Thu Apr 03, 2014 9:04 pm

Re: Share your networth progression

Post by hawkfan55 » Tue May 12, 2015 10:06 am

In October of 1981, at age 26, I accepted a job at a company and was encouraged by the one of the folks in HR to save a little money from each paycheck in this new thing called a 401k. I reluctantly agreed despite still having credit card debt, etc. In 1987, just before a stock market downturn, we withdrew most of the money, $10,000 from our 401k to have a downpayment for our first home. Took out a mortgage at 10% interest. Kept putting a little in the available 401ks. Moved twice and in 1989, bought a home that we raised our family in. In 1995, DW started full time work and was able to contribute to a 403b. DW and I have contributed the max to Roth IRAs since they began in 1998. In May of 1999, started saving for college in a 529 plan, good thing! Put two kids thru state university with tuition and room and board paid by DW and me, They had to pay for books and beer! All retirement savings with Vanguard except DW's current 403b. Last ten years of retirement savings look like this....
5/2005 Beginning Balance $173,660
Purchases and Withdrawls $469,882
Market Gains $214,081
Income Returns $145,341
5/11/2015 Ending Balance $1,002,965
DW 403b $200,000
Total Retirement Savings $1,202,965 (Approx. $900k Deferred, $300k Roth)
Other Savings $30,000
Home Equity $300,000
Net Worth $1,532,965 (does not count non-financial assets such as cars, furniture, etc)
No debt other than 150k mortgage at 2.75%. With pensions and SS, we are looking forward to our future.
We have 4-6 years before retirement. Asset Allocation is 52/48.
Last edited by hawkfan55 on Thu May 14, 2015 12:23 pm, edited 1 time in total.

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