Share your net worth progression

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
pinhead
Posts: 137
Joined: Fri Apr 04, 2014 8:47 pm

Re: Share your net worth progression

Post by pinhead » Tue Jun 09, 2020 1:59 pm

Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.

iskey
Posts: 34
Joined: Fri Jan 30, 2015 1:24 pm

Re: Share your net worth progression

Post by iskey » Tue Jun 09, 2020 3:40 pm

Ages 43 and 40

Combined annual income - $126k
Two kids, 18 and 10
Didn't track net worth before 2014, was paying extra on mortgage, not investing significantly. Found Bogleheads in 2015(?), was a late starter to saving/investing.

2014: $45,000
2015: $66,000
2016: $98,000
2017: $131,000
2018: $170,000
2019: $267,000
current: $307,000

I don't add my pension into my net worth figures. Maybe I should, I just never have. Pension balance currently $143,000

frankandbeans
Posts: 159
Joined: Wed Feb 06, 2019 10:55 am

Re: Share your net worth progression

Post by frankandbeans » Tue Jun 09, 2020 4:39 pm

38 and 36 this year. Two kids.

Combined annual income $320k plus about $15k from rental income. Residential real estate appreciation in our area has been massive, which has contributed very substantially to our net worth.

2012: 28k (bought first house; lots of grad school debt)
2013: 120k
2014: 160k
2015: 245k
2016: 513k
2017: 780k
2018: 860k
2019: 1.18m
2020: 1.47m

joshchang
Posts: 1
Joined: Wed May 04, 2016 1:37 am

Re: Share your net worth progression

Post by joshchang » Tue Jun 09, 2020 4:48 pm

Age 40; Spouse age 39. Two kids. HCOL area.

2020 (as of today): $3.01m portfolio + $1.12m Equity (Primary residence + 2 rental properties)=$4.13m
2019: $2.42m+$1.01m=$3.43m
2018: $1.71m+$0.94m=$2.65m
2017: $1.75m+$0.83m=$2.58m
2016: $1.25m+$0.76m=$2.0m
2015: $988k+$680k=$1.67m


We were negative net worth in 2007 when we both graduated from school.

I am targeting $50k essential expense (should be provided by investment property after mortgage pay off) + $50k discretionary spending (from portfolio) for early retirement.

vveat
Posts: 308
Joined: Sat Dec 24, 2011 3:24 pm

Re: Share your net worth progression

Post by vveat » Tue Jun 09, 2020 6:09 pm

I didn't really keep good track before 2009 (not really much to keep track of, aside from loans)
46 years old, both of us, 2 kids - 9 and 12. Below tracking only the financial assets worth, not the house and boat, which are another $600k

2000 $0 (we came to the US for biz school with just a couple of suitcases and a cat (don't ask))
2003 -$160k (biz school was financed mostly by loans)
..
2005 - $300k (school loans not paid off yet but we bought a house)
..
2010 $45k (positive balance :sharebeer )
2011 $114k
2012 $480k
2013 $630k
2014 $665k
2015 $814k (paid off the mortgage :D )
2016 $852k
2017 $1,100k
2018 $1,520k
2019 $1,620k (bought a charter boat as investment)
2020 $1,700k

Aiming to get to $4M by the time kid#2 gets into college and then retire early, we'll see.

sjl333
Posts: 117
Joined: Sun Apr 20, 2014 2:59 pm

Re: Share your net worth progression

Post by sjl333 » Tue Jun 09, 2020 6:25 pm

(age) (income) (networth)
22. 65k. -120k. (Just graduated undergrad had to pay for my own car , living expenses, and tuition, no grants given since my dad made too much money).
31. 400-450k. +280k. ( Today)

Got a huge upgrade in pay last year. Networth would be much higher but student loans held me back quite a bit. Also I did a lot of international traveling in my 20s and paid for a very expensive hair transplant. But glad to be where I am today. Networth should start to skyrocket now since I'm able to save 250k+ per year (as long as there is no stock market crash).

austin757
Posts: 72
Joined: Wed Jun 06, 2018 11:48 am

Re: Share your net worth progression

Post by austin757 » Tue Jun 09, 2020 7:44 pm

pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
That's awesome. Would you say becoming self-employed after losing your job made a big difference in building wealth? Do you think you could have gotten there working for someone else? Thanks for sharing.

austin757
Posts: 72
Joined: Wed Jun 06, 2018 11:48 am

Re: Share your net worth progression

Post by austin757 » Tue Jun 09, 2020 7:46 pm

stoptothink wrote:
Tue Jun 09, 2020 11:19 am
austin757 wrote:
Tue Jun 09, 2020 10:48 am
You guys are really inspiring. Seeing some of these figures helps me realize what is achievable with hard work and the right attitude towards investing. I was getting nervous these last couple months seeing sharp drops, but I have stayed the course (100% equities) and will keep contributing going forward.

Started investing in 2014 at age 20, but I wasn't as precise with tracking net worth until the last couple of years.

2014: 70k (estimated)
2015: 85k (estimated)
2016: 125k (estimated)
2017: 295k (estimated)
2018: 390k (estimated)
2019: 665k
YTD: 1,038,000

I'm at a point in my career where I'm thinking of getting an MBA and trying for a management role. The COVID thing has gotten me to really think about career and investments going forward. I'm not really sure what to do with my life.
Well, you could probably never save another penny and be just fine.
If I live below my means, maybe I would. I'm still not taking any chances though...

StoopieHippo
Posts: 92
Joined: Sat Sep 15, 2018 10:42 am
Location: Seattle, WA

Re: Share your net worth progression

Post by StoopieHippo » Tue Jun 09, 2020 8:29 pm

KlangFool wrote:
Tue Jun 09, 2020 11:34 am
StoopieHippo wrote:
Tue Jun 09, 2020 11:09 am
KlangFool wrote:
Tue Jun 09, 2020 10:33 am
Folks,

1.45 million. 50K from my FI number. About to be laid off in June 30th. Life is full of up and down,

KlangFool
Whoa, didn't see that coming. What's your plan? (I feel like you always have a plan, lol)
StoopieHippo,

Take it easy. Work if I can find a suitable work from home job. Or else, just take classes and live my life.

KlangFool
Good plan :thumbsup

KlangFool
Posts: 16603
Joined: Sat Oct 11, 2008 12:35 pm

Re: Share your net worth progression

Post by KlangFool » Tue Jun 09, 2020 8:54 pm

StoopieHippo wrote:
Tue Jun 09, 2020 8:29 pm
KlangFool wrote:
Tue Jun 09, 2020 11:34 am
StoopieHippo wrote:
Tue Jun 09, 2020 11:09 am
KlangFool wrote:
Tue Jun 09, 2020 10:33 am
Folks,

1.45 million. 50K from my FI number. About to be laid off in June 30th. Life is full of up and down,

KlangFool
Whoa, didn't see that coming. What's your plan? (I feel like you always have a plan, lol)
StoopieHippo,

Take it easy. Work if I can find a suitable work from home job. Or else, just take classes and live my life.

KlangFool
Good plan :thumbsup
Thanks.

KlangFool

pinhead
Posts: 137
Joined: Fri Apr 04, 2014 8:47 pm

Re: Share your net worth progression

Post by pinhead » Tue Jun 09, 2020 9:15 pm

austin757 wrote:
Tue Jun 09, 2020 7:44 pm
pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
That's awesome. Would you say becoming self-employed after losing your job made a big difference in building wealth? Do you think you could have gotten there working for someone else? Thanks for sharing.
After I lost my 1st job, I found a FT low paying job 8 months later,working for someone. I went on my own in 2006. Made a tremendous difference. Tripled my salary instantly, and my wife doubled hers (overnight). Yes, all my net worth comes from savings, not really investing (I consider myself to be a terrible emotional investor). Even the company that tripled over covid, I sold half of what I had few days prior to it tripling. I probably left $200K on the table for that move. But hindsight......We live a very frugal life up to November 2019, where I finally decided to buy a bigger home with lots more expenses associated with it. The trick that did it for us was to live an average life for at least 15 to 20 years after graduating.

Zillions
Posts: 62
Joined: Sun May 24, 2020 12:58 am

Re: Share your net worth progression

Post by Zillions » Wed Jun 10, 2020 1:22 am

This is a very very awe-inspiring thread! If you folks could share - was it the bull market that helped build your net worth? We have a decent savings rate & live very frugally, on one income, but didn't start investimg until 2014 - we were stupid!

Thank you all for sharing.
pinhead wrote:
Tue Jun 09, 2020 9:15 pm
austin757 wrote:
Tue Jun 09, 2020 7:44 pm
pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
That's awesome. Would you say becoming self-employed after losing your job made a big difference in building wealth? Do you think you could have gotten there working for someone else? Thanks for sharing.
After I lost my 1st job, I found a FT low paying job 8 months later,working for someone. I went on my own in 2006. Made a tremendous difference. Tripled my salary instantly, and my wife doubled hers (overnight). Yes, all my net worth comes from savings, not really investing (I consider myself to be a terrible emotional investor). Even the company that tripled over covid, I sold half of what I had few days prior to it tripling. I probably left $200K on the table for that move. But hindsight......We live a very frugal life up to November 2019, where I finally decided to buy a bigger home with lots more expenses associated with it. The trick that did it for us was to live an average life for at least 15 to 20 years after graduating.
Hi, what is the nature of your business? Are you attorneys?
Last edited by Zillions on Wed Jun 10, 2020 1:39 am, edited 1 time in total.

Zillions
Posts: 62
Joined: Sun May 24, 2020 12:58 am

Re: Share your net worth progression

Post by Zillions » Wed Jun 10, 2020 1:37 am

austin757 wrote:
Tue Jun 09, 2020 10:48 am
You guys are really inspiring. Seeing some of these figures helps me realize what is achievable with hard work and the right attitude towards investing. I was getting nervous these last couple months seeing sharp drops, but I have stayed the course (100% equities) and will keep contributing going forward.

Started investing in 2014 at age 20, but I wasn't as precise with tracking net worth until the last couple of years.

2014: 70k (estimated)
2015: 85k (estimated)
2016: 125k (estimated)
2017: 295k (estimated)
2018: 390k (estimated)
2019: 665k
YTD: 1,038,000

I'm at a point in my career where I'm thinking of getting an MBA and trying for a management role. The COVID thing has gotten me to really think about career and investments going forward. I'm not really sure what to do with my life.
Hello, that is an inspiring story as you're a millionaire at 26! What do you do for a living? Are these from investments or a high salary? Thanks for sharing!

investingdad
Posts: 1737
Joined: Fri Mar 15, 2013 10:41 pm

Re: Share your net worth progression

Post by investingdad » Wed Jun 10, 2020 7:20 am

pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
Nicely done.

I'm thinking the self employ move is what pushed you ahead so quickly. We started out tracking similar and are close in age, but you're running a mil in front. My guess is our current income is about where you were at least 7 or more years ago.

Like you, $5 mil is our magic number. I think maybe in 7 ish years we hit it. Your expenses all in are prob under 125k or so for that target?

mnsportsgeek
Posts: 274
Joined: Mon Jan 19, 2015 1:39 pm

Re: Share your net worth progression

Post by mnsportsgeek » Wed Jun 10, 2020 7:22 am

mnsportsgeek wrote:
Sat Oct 26, 2019 1:44 pm
Jan 2014 - $0
Jan 2015 - Unknown
Jan 2016 - Unknown
Jan 2017 - $150k
Jan 2018 - $178k
Jan 2019 - $341k
Jan 2020 - $467k
June 2020 - $495k

redmaw
Posts: 41
Joined: Mon Apr 22, 2019 7:20 am

Re: Share your net worth progression

Post by redmaw » Wed Jun 10, 2020 7:56 am

This thread always makes me want to recreate my progression, but records are limited. Here's my best guess based around life milestones.

2002, age 18: 6k cash + 1-2k in car (started working summers a 12, but blew most of it until I was 15 and started saving for the car, then college)
2003, age 19: -5k - tuition wiped me out even after some scholarship $.
2006, age 22: -55k - graduated with about 30k in loans and bought a 30k car (value removed from NW) the next month (on 55k salary, smart).
2008, age 24: 0 - paid off car, 401k roughly equal to student loans
2009, age 25: 50k? - got married + bought a house the same week, paid off student loans soon after (raided my wife's savings for that)
2014, age 30: 300k? - paid off the mortgage, completely debt free, but not much saved anywhere else (just 401ks to get the match really)
2016, age 32: 500k? - first child was born
2019, age 32.5: 700k* -year start, started actually keeping track of things
2019, age 33: 835k - year end, what a market can I get +30% every year?
Current: 850k (estimated based in recent market moves) - second (last) child born

We'll see what the future holds but 2M and retired by 40 sounds really good right now.

*includes home, 401ks, IRAs, taxable, savings, checking, small hsa, and an estimated npv on 2 pensions.

austin757
Posts: 72
Joined: Wed Jun 06, 2018 11:48 am

Re: Share your net worth progression

Post by austin757 » Wed Jun 10, 2020 8:55 am

Zillions wrote:
Wed Jun 10, 2020 1:37 am
austin757 wrote:
Tue Jun 09, 2020 10:48 am
You guys are really inspiring. Seeing some of these figures helps me realize what is achievable with hard work and the right attitude towards investing. I was getting nervous these last couple months seeing sharp drops, but I have stayed the course (100% equities) and will keep contributing going forward.

Started investing in 2014 at age 20, but I wasn't as precise with tracking net worth until the last couple of years.

2014: 70k (estimated)
2015: 85k (estimated)
2016: 125k (estimated)
2017: 295k (estimated)
2018: 390k (estimated)
2019: 665k
YTD: 1,038,000

I'm at a point in my career where I'm thinking of getting an MBA and trying for a management role. The COVID thing has gotten me to really think about career and investments going forward. I'm not really sure what to do with my life.
Hello, that is an inspiring story as you're a millionaire at 26! What do you do for a living? Are these from investments or a high salary? Thanks for sharing!
Thanks! I work two jobs- Airline pilot and am also in sales in another industry. I keep my living expenses low and invest the income from both. Always been a saver since I was young. I made a couple of good short term investments outside of my Vanguard funds that helped, but now I just like VTI. But also received gifts from family in 2017 and earlier this year that helped a bit. My income is nowhere near what some of the tech and finance guys make. Very inspiring to see and I'm also keeping my eyes open for better opportunities.

Faisal
Posts: 132
Joined: Sun Dec 18, 2016 6:37 pm

Re: Share your net worth progression

Post by Faisal » Wed Jun 10, 2020 9:20 am

Double post.
Last edited by Faisal on Wed Jun 10, 2020 9:22 am, edited 1 time in total.

Faisal
Posts: 132
Joined: Sun Dec 18, 2016 6:37 pm

Re: Share your net worth progression

Post by Faisal » Wed Jun 10, 2020 9:22 am

In my case its been an interesting change in fortunes.

2008 to 2013 - Single working in hotspots like Darfur, Afghanistan etc.

2008 - 0
2009 - 60k
2010 - 100k
2011 - 140k
2012 - 190k
2013 - 250k

Got married, move to the US had to rent a home, pay for our wedding and general things involved in setting up a home and a family.

2014 - 200k
2015 - 180k
2016 - 160k - First son born
2017 - 175k
2018 - Negative 370k - Bought a home took on debt of 420k - Savings at this stage were 50k
2019 - Negative 270k - savings/investments account for 140k - Second son born
2020 - Plan on paying off a portion of the mortgage and up the savings to 175 in savings/investments

Our ony debt is our mortgage which i want to get rid of asap, while mainaining a healthy savings rate as well in disposable cash. And when the mortgage is paid off at that point I will include the networth of my home.

I know this may not be standard for most people but i come from a culture were debt is seen a huge negative and if you have the cash you buy it otherwise you save. No concept of credit cards or credit as a whole.

Edit - Aim to have 500k in investments and savings by age 45. I am 38 and mrs is 35.

User avatar
TheTimeLord
Posts: 7714
Joined: Fri Jul 26, 2013 2:05 pm

Re: Share your net worth progression

Post by TheTimeLord » Wed Jun 10, 2020 9:34 am

Sort of a different answer to the question but according to Firecalc using 100% success my retirement income will be 159% of my original goal. So not my net worth progression but possibly more important number my retirement income progression.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]

SB1234
Posts: 65
Joined: Sat Mar 10, 2018 7:41 pm

Re: Share your net worth progression

Post by SB1234 » Wed Jun 10, 2020 9:41 am

Faisal wrote:
Wed Jun 10, 2020 9:22 am
In my case its been an interesting change in fortunes.

2008 to 2013 - Single working in hotspots like Darfur, Afghanistan etc.

2008 - 0
2009 - 60k
2010 - 100k
2011 - 140k
2012 - 190k
2013 - 250k

Got married, move to the US had to rent a home, pay for our wedding and general things involved in setting up a home and a family.

2014 - 200k
2015 - 180k
2016 - 160k - First son born
2017 - 175k
2018 - Negative 370k - Bought a home took on debt of 420k - Savings at this stage were 50k
2019 - Negative 270k - savings/investments account for 140k - Second son born
2020 - Plan on paying off a portion of the mortgage and up the savings to 175 in savings/investments

Our ony debt is our mortgage which i want to get rid of asap, while mainaining a healthy savings rate as well in disposable cash. And when the mortgage is paid off at that point I will include the networth of my home.

I know this may not be standard for most people but i come from a culture were debt is seen a huge negative and if you have the cash you buy it otherwise you save. No concept of credit cards or credit as a whole.

Edit - Aim to have 500k in investments and savings by age 45. I am 38 and mrs is 35.
You should count current value in your house purchase as positive in your networth because you are considering the loan as negative. So your overall networth should not be negative and neither should your equity in home (value minus loan)
Getting into debt to buy an asset should not change net worth appreciably unless transaction costs are super high or asset depreciates immediately after your purchase.

pinhead
Posts: 137
Joined: Fri Apr 04, 2014 8:47 pm

Re: Share your net worth progression

Post by pinhead » Wed Jun 10, 2020 2:05 pm

Zillions wrote:
Wed Jun 10, 2020 1:22 am
This is a very very awe-inspiring thread! If you folks could share - was it the bull market that helped build your net worth? We have a decent savings rate & live very frugally, on one income, but didn't start investimg until 2014 - we were stupid!

Thank you all for sharing.
pinhead wrote:
Tue Jun 09, 2020 9:15 pm
austin757 wrote:
Tue Jun 09, 2020 7:44 pm
pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
That's awesome. Would you say becoming self-employed after losing your job made a big difference in building wealth? Do you think you could have gotten there working for someone else? Thanks for sharing.
After I lost my 1st job, I found a FT low paying job 8 months later,working for someone. I went on my own in 2006. Made a tremendous difference. Tripled my salary instantly, and my wife doubled hers (overnight). Yes, all my net worth comes from savings, not really investing (I consider myself to be a terrible emotional investor). Even the company that tripled over covid, I sold half of what I had few days prior to it tripling. I probably left $200K on the table for that move. But hindsight......We live a very frugal life up to November 2019, where I finally decided to buy a bigger home with lots more expenses associated with it. The trick that did it for us was to live an average life for at least 15 to 20 years after graduating.
Hi, what is the nature of your business? Are you attorneys?
IT related consulting.

pinhead
Posts: 137
Joined: Fri Apr 04, 2014 8:47 pm

Re: Share your net worth progression

Post by pinhead » Wed Jun 10, 2020 2:13 pm

investingdad wrote:
Wed Jun 10, 2020 7:20 am
pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
Nicely done.

I'm thinking the self employ move is what pushed you ahead so quickly. We started out tracking similar and are close in age, but you're running a mil in front. My guess is our current income is about where you were at least 7 or more years ago.

Like you, $5 mil is our magic number. I think maybe in 7 ish years we hit it. Your expenses all in are prob under 125k or so for that target?
Probably $70K to 100K a year. It is at this range because of property tax, which is $20K for the house we live in, rental property tax is $8K, but rent covers that + more. Otherwise our expenses are very low. We feel like we do everything we need to do, but cant seem to find ways to spend. I think having reliable cars help tremendously (Lexus + Camry...oil change and tires, thats it). I really dont feel like we are even trying to save....we just cant find things to spend money on.

My kids and wife dislike eating out. So I think there is a huge cost savings factor there. I know a family that spends $1K a month for eating out just once a week. (yes, $250 each time they eat out).

We travel to Asia once a year, but most of the cost is taken care off by free credit card airline points sign up deals.

squirm
Posts: 2678
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Re: Share your net worth progression

Post by squirm » Wed Jun 10, 2020 4:50 pm

dziuniek wrote:
Tue Jun 09, 2020 10:11 am
squirm wrote:
Wed Jun 03, 2020 9:03 am
Is flaunting net worth in vogue, especially in these times?

Reminds me when someone post, something like "can I buy this used toyota camry?" and states they have $10 million in blah blah blah funds.
I don't see how it has anything to do with 'these times'. There's always something going on.

This is one of my favorite threads. I simply cut a ZERO from most posters numbers and hope to get to that number ;)
LOL!
Just use the 3.5 to 4% rule. It's amazing what one has to amaze to be financially comfortable if not working.

Linux
Posts: 5
Joined: Sat Sep 21, 2019 6:14 pm

Re: Share your net worth progression

Post by Linux » Wed Jun 10, 2020 6:33 pm

My net worth tracking has been poor, so the first few years are estimates. Maybe I can improve my process by using this thread as my log? :)

2016 -$2k (Graduated college)
2017 $15k
2018 $45k
2019 $80k (new job)
2020 $145k (current)

My income is $70k per year and my annual expenses are approximately $25k.

I have a few goals I'm keeping in mind. I want to have a $250k net worth by 30 and I think that is very achievable. My second goal is to have a $1mm net worth by 40. My third goal is to be financially independent by 50, because I'm concerned about age-ism.
50% NTSX, 30% VXUS, 10% VPU, 10% TIAA Real Estate

62nc
Posts: 40
Joined: Mon Jun 27, 2016 3:34 pm

Re: Share your net worth progression

Post by 62nc » Thu Jun 11, 2020 12:07 pm

pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
This is impressive. You're roughly my life stage and starting salary in 2000 as well, but much further along than me, though we had kids a bit earlier, and for much of our time we have been single income. Did you and your spouse both work through the years? Steady income or volatile with large spikes?

Also I see 12 years to $1M, then 4 years to $2M, then 4 years to $4M. We're on track to $1M in 22 years, so I'm wondering expected time to double that for us - 7 more years?

novemberrain
Posts: 300
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Re: Share your net worth progression

Post by novemberrain » Thu Jun 11, 2020 11:28 pm

Rough numbers
2005 - 100k
2010 - 280k
2015 - 530k
2020 - 1.8M (after coronavirus shock)

40 yrs old. Both spouses' careers got into high earning mode just 4 years back. At this rate, I hope to hit 5M at age 50; and then continue beyond that.

This is one of the best threads on bogleheads imho. Very inspiring that people on employed income can reach 1 percenter status by staying the course. I always used to think lower in terms of my terminal NW (Meaning NW at the point of retirement). Now I am inspired to think higher.
Last edited by novemberrain on Mon Jun 29, 2020 2:00 pm, edited 2 times in total.

Count of Notre Dame
Posts: 190
Joined: Fri Oct 11, 2013 1:08 pm

Re: Share your net worth progression

Post by Count of Notre Dame » Fri Jun 12, 2020 1:12 pm

pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
I am on an extremely similar trajectory as you (currently 36 with $1.1M net worth) but I already see myself wanting to move to part time work at age 40. When are you going to pump the breaks on the hours you are putting into your job?

pinhead
Posts: 137
Joined: Fri Apr 04, 2014 8:47 pm

Re: Share your net worth progression

Post by pinhead » Fri Jun 12, 2020 8:32 pm

Count of Notre Dame wrote:
Fri Jun 12, 2020 1:12 pm
pinhead wrote:
Tue Jun 09, 2020 1:59 pm
Age: 45, Spouse 44, 2 kids

Dec 1999: Graduated college with $2000 savings. No debt. Fortunate tuition was paid by very frugal parents. Very inexpensive college
2000: $10K (felt amazing hitting the first milestone, my salary was $40K, spouse (fiance then) $50K)
2001: 35K
2002: $50K (Lost job due to 9/11 here. jobless or 8 months)
2003: 80K (Felt financially secure at this point. Bought a used Mercedes for $22K. Foolish move)
2004: 120K
2005: $200K (1st kid born)
2006: $330K (we both started working for ourselves and moved to a major city)
2007: $450K (Bought a townhouse for $300k cash)
2008: $600K
2009: $650K (Mercedes broke down. Bought Camry)
2010: $800K
2011: $1m (hit the $1m mark 4 years before hitting 40, which was my initial target)
2012: $1.25m (2nd kid born)
2013: 1.45m
2014: 1.7m
2015: 2m (I turned 40. Twice the initial target set earlier in life)
2016: 2.5m
2017: 3m
2018: 3.5m
2019: 4m (Finally bought a bigger home after living way below our means for cash. Renting out old townhouse)

2020 Current: 4.4m. On target to reach maybe 4.6m to 4.7m by year end.
(Large jump because a single stock I owned tripled during Covid and i sold 80% of it, which netted me over $250K)

2021: Achieve life goal of $5m

(For me, $5m is the magic number), where I will blow anything after this $5m. I probably wont carelessly blow it because of the discipline I have become accustomed to, but I would be very content with spending on larger toys (Maybe a polaris slingshot). I can breathe, and not hustle daily trying to land opportunities. I currently work 10 - 12 hours a day, 6 days a week.

*Disclaimer: The net worth amounts year by year are approximates based on memory.
I am on an extremely similar trajectory as you (currently 36 with $1.1M net worth) but I already see myself wanting to move to part time work at age 40. When are you going to pump the breaks on the hours you are putting into your job?
$5m. Then hit brakes and work maybe 10-15 hours a week

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tetractys
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Location: Along the Salish Sea

Re: Share your net worth progression

Post by tetractys » Fri Jun 12, 2020 8:51 pm

My net worth has truly progressed. I remember a day many years ago I had one dime in my pocket and was paying rent with my first credit card. Now I’m in countdown mode to retirement; just waiting for my pension and Medicare to kick in.

I’m really satisfied. After so many years of studying and working I feel like I truly understand what happiness is and how to maintain and grow it.

ARShock
Posts: 5
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Re: Share your net worth progression

Post by ARShock » Sat Jun 13, 2020 8:25 am

Middle income household, low to middle cost of living location, 4 kids in private school, I am 37 and wife is 35 yrs old, Currently a single income household, but the wife will be working part time next school year which will cover the kids tuition costs plus a little extra. Just got a raise and along with the wife working more I hope we see a steady progression in net worth. Started tracking in 2015

2015 - 260k
2016 - 422k. We had our 4th Child. Built our home which netted about 75k in equity that was added to the net worth and inherited 40k from a relative
2017 - 459k
2018 - 470k
2019 - 560k

My real life goal is $2 million by 60, my dream would be $4 million by 60.

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Hawaiishrimp
Posts: 458
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Re: Share your net worth progression

Post by Hawaiishrimp » Sat Jun 27, 2020 5:37 am

44 now, two kids, same wife. Still live in HCOL, same house, one different car. Same job, but got promoted once. Even with the Covid-19 pandemic, thankfully my investment is still doing exceptionally well since late 2019. Portfolio has grown significantly. I am very happy about that. Hope the trend continues. My goal is to reach $10m in less than 10 years. Wishfully within 5.

2015: 970k
2016: 1.51M
2017: 2.01M
2018: 2.10M
2019: 2.95M
2020: 5.17M (so far)
I save and invest my money, so money can make money for me, so I don't have to make money eventually.

l1am
Posts: 325
Joined: Wed Mar 02, 2016 2:27 pm

Re: Share your net worth progression

Post by l1am » Sat Jun 27, 2020 4:45 pm

Hawaiishrimp wrote:
Sat Jun 27, 2020 5:37 am
44 now, two kids, same wife. Still live in HCOL, same house, one different car. Same job, but got promoted once. Even with the Covid-19 pandemic, thankfully my investment is still doing exceptionally well since late 2019. Portfolio has grown significantly. I am very happy about that. Hope the trend continues. My goal is to reach $10m in less than 10 years. Wishfully within 5.

2015: 970k
2016: 1.51M
2017: 2.01M
2018: 2.10M
2019: 2.95M
2020: 5.17M (so far)
Impressive, 2019 was a huge year?

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Hawaiishrimp
Posts: 458
Joined: Tue Apr 14, 2015 4:13 am

Re: Share your net worth progression

Post by Hawaiishrimp » Sun Jun 28, 2020 2:04 am

l1am wrote:
Sat Jun 27, 2020 4:45 pm

Impressive, 2019 was a huge year?
Yes, my company's stock option vested. Plus, I bought Tesla stocks. Thanks.
I save and invest my money, so money can make money for me, so I don't have to make money eventually.

tryingtogetahead
Posts: 22
Joined: Tue Apr 07, 2020 11:45 am

Re: Share your net worth progression

Post by tryingtogetahead » Sun Jun 28, 2020 7:21 am

Age: 37, DW 36, no children yet

August 2007: ($75k) (graduated from school with $150k of student loan debt (included in this NW figure) and $72k starting salary)
2008: ($58k) (salary increased to $160k; bought condo for $500k)
2009: $0
2010: $182k
2011: $238k
2012: $381k (salary increased to $250k; married DW)
2013: $660k (sold condo and bought SF home for $700k)
2014: $900k
2015: $1mm (foolishly bought luxury car for $83k)
2016: $1.3mm (bought $800k rental property)
2017: $1.7mm
2018: $2.1mm (bought $350k rental property)
2019: $2.5mm
June 2020: $3mm (household income $520k and expenses $60k)

On target to reach approximately $4.4mm by age 40, $8.5mm by age 45, $14mm by age 50, and $24mm by age 55, assuming 4% annual salary increases, 7% annual stock market returns, and 2% annual RE returns.

We do not have any financial targets per se. We just plan to keep going and see how high we can go. We are considering inflating our lifestyle with a $2mm home and $65k car but still unclear at this point if we will pull the trigger.

Grogs
Posts: 620
Joined: Tue Mar 24, 2015 4:55 pm

Re: Share your networth progression

Post by Grogs » Sun Jun 28, 2020 8:18 am

Grogs wrote:
Tue Jan 12, 2016 9:05 pm
Here's mine. I put this together for "fun" a few months back. The numbers get increasingly fuzzy before about 2008 because I had car loans that I no longer have records for, I've thrown out the old statements for my Roth, etc., but I've reconstructed them as best as I can. My condo is included in net worth, but I just use purchase price - remaining mortgage.

12/31/2002 $(6,000.00)
12/31/2003 $11,000.00
12/31/2004 $18,000.00
12/31/2005 $11,000.00 Started Grad School
12/31/2006 $7,000.00
12/31/2007 $7,000.00
12/31/2008 $7,000.00
12/31/2009 $12,000.00
12/31/2010 $33,000.00 Graduated
12/31/2011 $49,000.00 Real Job
12/31/2012 $72,000.00 Bought Condo
12/31/2013 $89,000.00
12/31/2014 $126,000.00
12/31/2015 $166,000.00
Update on mine:
12/31/2016 $234,129.12
12/31/2017 $322,360.64
12/31/2018 $383,950.38
12/31/2019 $490,074.78
5/31/2020 $617,279.19 Used a $100k windfall to pay off condo

The last 4.5 years have gone well. I'm hoping I can maintain/increase the current rate of investments and get a boost from returns to hit around $2MM in 10 years.

UnitaryExecutive
Posts: 98
Joined: Wed Jun 29, 2016 10:54 pm

Re: Share your net worth progression

Post by UnitaryExecutive » Mon Jun 29, 2020 1:28 am

tryingtogetahead wrote:
Sun Jun 28, 2020 7:21 am
Age: 37, DW 36, no children yet

August 2007: ($75k) (graduated from school with $150k of student loan debt (included in this NW figure) and $72k starting salary)
2008: ($58k) (salary increased to $160k; bought condo for $500k)
2009: $0
2010: $182k
2011: $238k
2012: $381k (salary increased to $250k; married DW)
2013: $660k (sold condo and bought SF home for $700k)
2014: $900k
2015: $1mm (foolishly bought luxury car for $83k)
2016: $1.3mm (bought $800k rental property)
2017: $1.7mm
2018: $2.1mm (bought $350k rental property)
2019: $2.5mm
June 2020: $3mm (household income $520k and expenses $60k)

On target to reach approximately $4.4mm by age 40, $8.5mm by age 45, $14mm by age 50, and $24mm by age 55, assuming 4% annual salary increases, 7% annual stock market returns, and 2% annual RE returns.

We do not have any financial targets per se. We just plan to keep going and see how high we can go. We are considering inflating our lifestyle with a $2mm home and $65k car but still unclear at this point if we will pull the trigger.
You guys are doing great. Congrats! It's pretty natural to have some lifestyle inflation once you hit that level of NW, but I'd probably be a little more conservative about continued salary progression and market returns.

Going from 60k expenses to a 65k car and a 2M house isn't modest lifestyle inflation, it's a whole lot of lifestyle inflation that assumes things will stay the same. There are lots of small business owners who were doing great, cashflowing, and then covid hit.

novemberrain
Posts: 300
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Re: Share your net worth progression

Post by novemberrain » Tue Jun 30, 2020 10:16 pm

Stef wrote:
Fri Dec 20, 2019 10:49 am
It's hard to grasp the American system for a European. In most countries studying is basically free (even in the best ranked universities).
How is it "free"? Who pays the professors ? :confused

KyleAAA
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Re: Share your net worth progression

Post by KyleAAA » Tue Jun 30, 2020 11:47 pm

novemberrain wrote:
Tue Jun 30, 2020 10:16 pm
Stef wrote:
Fri Dec 20, 2019 10:49 am
It's hard to grasp the American system for a European. In most countries studying is basically free (even in the best ranked universities).
How is it "free"? Who pays the professors ? :confused
The government pays the professors. You realize that when people refer to “free” university they aren’t literally saying the faculty are volunteers, right? Yes, they know it comes out of taxes. It’s still accurate to say university is free in those countries.

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Stef
Posts: 947
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Re: Share your net worth progression

Post by Stef » Wed Jul 01, 2020 12:56 am

novemberrain wrote:
Tue Jun 30, 2020 10:16 pm
Stef wrote:
Fri Dec 20, 2019 10:49 am
It's hard to grasp the American system for a European. In most countries studying is basically free (even in the best ranked universities).
How is it "free"? Who pays the professors ? :confused
Tax payers / the society

Yes I know we are all tax payers. But people with higher income will contribute the most. So while maybe 1000$ of my taxes go to universities, for some it's millions.

novemberrain
Posts: 300
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Re: Share your net worth progression

Post by novemberrain » Wed Jul 01, 2020 1:05 am

Stef wrote:
Wed Jul 01, 2020 12:56 am
novemberrain wrote:
Tue Jun 30, 2020 10:16 pm
Stef wrote:
Fri Dec 20, 2019 10:49 am
It's hard to grasp the American system for a European. In most countries studying is basically free (even in the best ranked universities).
How is it "free"? Who pays the professors ? :confused
Tax payers / the society

Yes I know we are all tax payers. But people with higher income will contribute the most. So while maybe 1000$ of my taxes go to universities, for some it's millions.
I was just pointing out that it is not free :) Some taxpayers are still paying for it ; as you just elaborated.

novemberrain
Posts: 300
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Re: Share your net worth progression

Post by novemberrain » Wed Jul 01, 2020 1:07 am

KyleAAA wrote:
Tue Jun 30, 2020 11:47 pm
novemberrain wrote:
Tue Jun 30, 2020 10:16 pm
Stef wrote:
Fri Dec 20, 2019 10:49 am
It's hard to grasp the American system for a European. In most countries studying is basically free (even in the best ranked universities).
How is it "free"? Who pays the professors ? :confused
The government pays the professors. You realize that when people refer to “free” university they aren’t literally saying the faculty are volunteers, right? Yes, they know it comes out of taxes. It’s still accurate to say university is free in those countries.
Is it accurate to say that social security is a "free" benefit ?

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peterinjapan
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Location: Japan!

Re: Share your net worth progression

Post by peterinjapan » Wed Jul 01, 2020 2:41 am

I'll take a stab...

1999 - $10k (was only starting to understand investing, making all the usual mistakes)
2009 - $500k (had money being managed around this time)
2014 - $1.6m
2016 - $2.6m
2017 - $2.8m
2018 - $3.3m
2019 - $3.3m
2020 March - $3.9m

(Had the incredibly good luck to sell a business in March of this year, allowing me to focus on my main business and be way happier overall.)

For the record, how do people count anticipated future payments, such as retirement bonuses my company will be paying me later? I plug in conservative estimates in and consider them to be like bonds in my overall portfolio.

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peterinjapan
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Location: Japan!

Re: Share your net worth progression

Post by peterinjapan » Wed Jul 01, 2020 2:43 am

tetractys wrote:
Fri Jun 12, 2020 8:51 pm
My net worth has truly progressed. I remember a day many years ago I had one dime in my pocket and was paying rent with my first credit card. Now I’m in countdown mode to retirement; just waiting for my pension and Medicare to kick in.

I’m really satisfied. After so many years of studying and working I feel like I truly understand what happiness is and how to maintain and grow it.
Awesome, that sums up the point of Boglehead investing very nicely. I, too, used to be poor, and even declared bankruptcy over a ridiculously low amount, I think it was $7000.

RocketShipTech
Posts: 168
Joined: Sat Jun 13, 2020 10:08 pm

Re: Share your net worth progression

Post by RocketShipTech » Wed Jul 01, 2020 9:28 am

novemberrain wrote:
Wed Jul 01, 2020 1:05 am
Stef wrote:
Wed Jul 01, 2020 12:56 am
novemberrain wrote:
Tue Jun 30, 2020 10:16 pm
Stef wrote:
Fri Dec 20, 2019 10:49 am
It's hard to grasp the American system for a European. In most countries studying is basically free (even in the best ranked universities).
How is it "free"? Who pays the professors ? :confused
Tax payers / the society

Yes I know we are all tax payers. But people with higher income will contribute the most. So while maybe 1000$ of my taxes go to universities, for some it's millions.
I was just pointing out that it is not free :) Some taxpayers are still paying for it ; as you just elaborated.
It is free to the recipients. What taxes has an 18 year old paid?

e5116
Posts: 539
Joined: Mon Oct 05, 2009 11:22 am

Re: Share your net worth progression

Post by e5116 » Wed Jul 01, 2020 9:59 am

It's interesting to see so many people up this year in NW given investment performance. Is this selection bias? I'm about where I was in November/December 2019 still even after contributing heavily to new investments over the past 6 months. My skew to small-cap value has not helped certainly....Are there others like me so I don't have to feel so bad about still being down?

I would expect those with small net worths to have increases as contributions outweigh investment returns, but would think those with larger net worths to be down given the below:

YTD Performance:
Total Stock -4%
Total International Stock -11.5%
Small-Cap Value -11.5%

(Total Bond up 6% admittedly - makes up small part of my portfolio)

novemberrain
Posts: 300
Joined: Wed May 09, 2018 12:26 pm

Re: Share your net worth progression

Post by novemberrain » Wed Jul 01, 2020 12:51 pm

RocketShipTech wrote:
Wed Jul 01, 2020 9:28 am
It is free to the recipients. What taxes has an 18 year old paid?
The 18 year old will pay those taxes in the future. If I buy a car with a 0-down loan that I have to pay back in future, did I get a free car ?

KyleAAA
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Re: Share your net worth progression

Post by KyleAAA » Wed Jul 01, 2020 4:23 pm

novemberrain wrote:
Wed Jul 01, 2020 1:07 am
KyleAAA wrote:
Tue Jun 30, 2020 11:47 pm
novemberrain wrote:
Tue Jun 30, 2020 10:16 pm
Stef wrote:
Fri Dec 20, 2019 10:49 am
It's hard to grasp the American system for a European. In most countries studying is basically free (even in the best ranked universities).
How is it "free"? Who pays the professors ? :confused
The government pays the professors. You realize that when people refer to “free” university they aren’t literally saying the faculty are volunteers, right? Yes, they know it comes out of taxes. It’s still accurate to say university is free in those countries.
Is it accurate to say that social security is a "free" benefit ?
Of course not. Apples to oranges. The amount of SSI is tied to work history and the money paid into it. Don't pay anything into it, you don't receive a benefit. Free university has no such conditions.

KyleAAA
Posts: 8326
Joined: Wed Jul 01, 2009 5:35 pm
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Re: Share your net worth progression

Post by KyleAAA » Wed Jul 01, 2020 4:24 pm

novemberrain wrote:
Wed Jul 01, 2020 12:51 pm
RocketShipTech wrote:
Wed Jul 01, 2020 9:28 am
It is free to the recipients. What taxes has an 18 year old paid?
The 18 year old will pay those taxes in the future. If I buy a car with a 0-down loan that I have to pay back in future, did I get a free car ?
If you don't pay back the loan, what happens? Are there any consequences? Now take the free college example. Say you never get a job, never earn any income, and never pay any taxes. Same consequences or no? None of these analogies are remotely applicable.

novemberrain
Posts: 300
Joined: Wed May 09, 2018 12:26 pm

Re: Share your net worth progression

Post by novemberrain » Wed Jul 01, 2020 4:41 pm

KyleAAA wrote:
Wed Jul 01, 2020 4:24 pm
If you don't pay back the loan, what happens? Are there any consequences? Now take the free college example. Say you never get a job, never earn any income, and never pay any taxes. Same consequences or no? None of these analogies are remotely applicable.
Yes, there are consequences for never getting a job, namely one might be forced to live a terrible life with no creature comforts. And in the worst case, die from poverty.
Sure it is an awesome deal for someone who gets tuition free college and never works a job after that; but that is an outlier case.
On average, the vast majority of people who get this "free" college do end up paying for it in the future via taxes from their job. If the vast majority didn't work in jobs, the system would collapse and future generations would not get "free" college.

I feel guilty for "hijacking" this thread. If you'd like, you can start a new thread.

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