Share your net worth progression

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kleiner
Posts: 20
Joined: Tue Jun 02, 2020 8:45 am

Re: Share your net worth progression

Post by kleiner »

market timer wrote: Tue Aug 11, 2020 11:44 am 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
1/1/15: $670K
1/1/16: $740K
1/1/17: $1.1M
1/1/18: $1.2M
1/1/19: $1.4M
1/1/20: $1.8M
8/11/20: $2.4M

Have been FI in my mind for a while, but just now starting to feel rich.
Nice progression! $2M is the point where things started to look much more comfortable for me too.
schachtw
Posts: 174
Joined: Mon Jul 06, 2015 6:15 pm

Re: Share your net worth progression

Post by schachtw »

No detailed record keeping to speak of, however, the following milestones stand out:

1998: hit 1M net worth
2000: pretty much lost it all
2001-2008: built savings back up, became a Boglehead
2009: only lost a portion of net worth
2020: retired, 6.2M

Becoming a Boglehead, hard work and perseverance paid off!
Mofire
Posts: 19
Joined: Thu Aug 06, 2020 9:28 am

Re: Share your net worth progression

Post by Mofire »

schachtw wrote: Tue Aug 11, 2020 1:41 pm No detailed record keeping to speak of, however, the following milestones stand out:

1998: hit 1M net worth
2000: pretty much lost it all
2001-2008: built savings back up, became a Boglehead
2009: only lost a portion of net worth
2020: retired, 6.2M

Becoming a Boglehead, hard work and perseverance paid off!
This is great. How were you able to lose only a portion of net worth during the great recession?

Thanks
novemberrain
Posts: 489
Joined: Wed May 09, 2018 12:26 pm

Re: Share your net worth progression

Post by novemberrain »

market timer wrote: Tue Aug 11, 2020 11:44 am 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
1/1/15: $670K
1/1/16: $740K
1/1/17: $1.1M
1/1/18: $1.2M
1/1/19: $1.4M
1/1/20: $1.8M
8/11/20: $2.4M

Have been FI in my mind for a while, but just now starting to feel rich.
Wow ! Are these mainly market gains (based on well timed market moves - as your handle suggests)? Or from new money
User avatar
Makaveli
Posts: 672
Joined: Mon May 19, 2014 11:18 pm

Re: Share your net worth progression

Post by Makaveli »

YE Balance
2012 $(34k)
2013 $14k
2014 $120k
2015 $235k
2016 $445k - severance
2017 $566k
2018 $690k
2019 $1.08M - severance
2020 $1.19M

Thank you Bogleheads.
Last edited by Makaveli on Tue Aug 11, 2020 6:13 pm, edited 2 times in total.
mrfrosty2
Posts: 4
Joined: Fri Mar 13, 2020 8:56 am

Re: Share your net worth progression

Post by mrfrosty2 »

schachtw wrote: Tue Aug 11, 2020 1:41 pm No detailed record keeping to speak of, however, the following milestones stand out:

1998: hit 1M net worth
2000: pretty much lost it all
2001-2008: built savings back up, became a Boglehead
2009: only lost a portion of net worth
2020: retired, 6.2M

Becoming a Boglehead, hard work and perseverance paid off!
Care to share how you nearly lost it all? Divorce? Hookers and blow?
User avatar
Makaveli
Posts: 672
Joined: Mon May 19, 2014 11:18 pm

Re: Share your net worth progression

Post by Makaveli »

mrfrosty2 wrote: Tue Aug 11, 2020 6:12 pm
schachtw wrote: Tue Aug 11, 2020 1:41 pm No detailed record keeping to speak of, however, the following milestones stand out:

1998: hit 1M net worth
2000: pretty much lost it all
2001-2008: built savings back up, became a Boglehead
2009: only lost a portion of net worth
2020: retired, 6.2M

Becoming a Boglehead, hard work and perseverance paid off!
Care to share how you nearly lost it all? Divorce? Hookers and blow?
Assuming dot com bubble.
CryingHawaiian
Posts: 57
Joined: Thu Nov 09, 2017 3:14 pm
Location: Honolulu, HI

Re: Share your net worth progression

Post by CryingHawaiian »

novemberrain wrote: Tue Aug 11, 2020 5:08 pm
market timer wrote: Tue Aug 11, 2020 11:44 am 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
1/1/15: $670K
1/1/16: $740K
1/1/17: $1.1M
1/1/18: $1.2M
1/1/19: $1.4M
1/1/20: $1.8M
8/11/20: $2.4M

Have been FI in my mind for a while, but just now starting to feel rich.
Wow ! Are these mainly market gains (based on well timed market moves - as your handle suggests)? Or from new money
MT's journey is legendary on these forums and has been well documented
viewtopic.php?t=5934
You get what you get and you don’t get upset
User avatar
Admiral Fun
Posts: 104
Joined: Mon Jun 04, 2012 8:04 pm

Re: Share your net worth progression

Post by Admiral Fun »

Deleted
Last edited by Admiral Fun on Tue Aug 11, 2020 7:43 pm, edited 1 time in total.
Mofire
Posts: 19
Joined: Thu Aug 06, 2020 9:28 am

Re: Share your net worth progression

Post by Mofire »

market timer wrote: Tue Aug 11, 2020 11:44 am Have been FI in my mind for a while, but just now starting to feel rich.
How old are you if you don't mind me asking?
novemberrain
Posts: 489
Joined: Wed May 09, 2018 12:26 pm

Re: Share your net worth progression

Post by novemberrain »

kleiner wrote: Tue Aug 11, 2020 12:42 pm $2M is the point where things started to look much more comfortable for me too.
Would you mind sharing how crossing each Million felt for you psychologically ?

Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future.
Crossing the first 1M in my thirties felt like a huge achievement; for about a month. Then I immediately began thinking about 4 to 5 M; and 5M felt unattainable.
Once I crossed 2, it felt like 5 is something I can hit. 5M no longer seems unattainable.
Thats where I am at now.

Curious to know what other people felt when they crossed 1,2, 3, 4, 5 +.. Millions
bluebolt
Posts: 1241
Joined: Sat Jan 14, 2017 9:01 am

Re: Share your net worth progression

Post by bluebolt »

novemberrain wrote: Tue Aug 11, 2020 8:08 pm
kleiner wrote: Tue Aug 11, 2020 12:42 pm $2M is the point where things started to look much more comfortable for me too.
Would you mind sharing how crossing each Million felt for you psychologically ?

Curious to know what other people felt when they crossed 1,2, 3, 4, 5 +.. Millions
Pretty, pretty good. :D
schachtw
Posts: 174
Joined: Mon Jul 06, 2015 6:15 pm

Re: Share your net worth progression

Post by schachtw »

Makaveli wrote: Tue Aug 11, 2020 6:13 pm
mrfrosty2 wrote: Tue Aug 11, 2020 6:12 pm
schachtw wrote: Tue Aug 11, 2020 1:41 pm No detailed record keeping to speak of, however, the following milestones stand out:

1998: hit 1M net worth
2000: pretty much lost it all
2001-2008: built savings back up, became a Boglehead
2009: only lost a portion of net worth
2020: retired, 6.2M

Becoming a Boglehead, hard work and perseverance paid off!
Care to share how you nearly lost it all? Divorce? Hookers and blow?
Assuming dot com bubble.
Dot com bubble indeed. . .very painful period for many of us
MathIsMyWayr
Posts: 2256
Joined: Mon Mar 27, 2017 10:47 pm
Location: CA

Re: Share your net worth progression

Post by MathIsMyWayr »

schachtw wrote: Tue Aug 11, 2020 11:08 pm
Makaveli wrote: Tue Aug 11, 2020 6:13 pm
mrfrosty2 wrote: Tue Aug 11, 2020 6:12 pm
schachtw wrote: Tue Aug 11, 2020 1:41 pm No detailed record keeping to speak of, however, the following milestones stand out:

1998: hit 1M net worth
2000: pretty much lost it all
2001-2008: built savings back up, became a Boglehead
2009: only lost a portion of net worth
2020: retired, 6.2M

Becoming a Boglehead, hard work and perseverance paid off!
Care to share how you nearly lost it all? Divorce? Hookers and blow?
Assuming dot com bubble.
Dot com bubble indeed. . .very painful period for many of us
I assume NW excluding a home/house.
kleiner
Posts: 20
Joined: Tue Jun 02, 2020 8:45 am

Re: Share your net worth progression

Post by kleiner »

novemberrain wrote: Tue Aug 11, 2020 8:08 pm
kleiner wrote: Tue Aug 11, 2020 12:42 pm $2M is the point where things started to look much more comfortable for me too.
Would you mind sharing how crossing each Million felt for you psychologically ?

Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future.
Crossing the first 1M in my thirties felt like a huge achievement; for about a month. Then I immediately began thinking about 4 to 5 M; and 5M felt unattainable.
Once I crossed 2, it felt like 5 is something I can hit. 5M no longer seems unattainable.
Thats where I am at now.

Curious to know what other people felt when they crossed 1,2, 3, 4, 5 +.. Millions
At the 2M point, I began to feel that I had a decent chance of funding my kids college tuition and retiring. I would look at expensive cars and tell myself that I could buy it for cash (not that I ever would :happy )

2M felt like the big achievement for me. 3M and 4M passed quickly and I barely felt them. Our household NW is now a hair above 5M and I feel free to do anything I want and plan to retire this year (I'm in my 50s). But years of living carefully mean that I still find myself thinking over expenses multiple times.
GRAZ
Posts: 31
Joined: Mon Apr 25, 2016 7:28 pm

Re: Share your net worth progression

Post by GRAZ »

This is an inspiring thread - I have been checking my acct balances somewhat regularly over the last few years but not really tracking things. To put things into perspective, I looked back at my history and found a summary of my acct balances back in 2016 when I joined BH and started to transfer things away from a high fee advisor with Ameriprise to target date and index funds with Vanguard.

My acct balances have done very well - I'm not including home equity or other assets in my net worth because I choose to use just my cash and investment accounts to see how I am doing.

April 2016 (started BH investing): $575k
August 2020: $995k

I had been contributing to my 401k and Roth IRA for years but had not been organized and focused with what I was doing. It's amazing to see how much my acct balances have grown in 4 years with more focus on what I'm doing, along with a nice bull run of course.

Hoping to cross $1M threshold soon, stretch goal to hit $2M by 2026, $3M by 2030, and $4M by 2033 where I can retire comfortably at 62.
boglehat
Posts: 42
Joined: Mon Jul 14, 2014 9:31 am

Re: Share your net worth progression

Post by boglehat »

DW and I just hit $1M this week :D! (current ages ~29, no kids yet, VHCOL)

Our earnings have fluctuated widely based on career choices, but throughout we've aimed to save 50%+ and have stayed the course with a simple 3 fund portfolio. ~90% equities throughout, with a plan to lower it over time.

2013: ~$20k (started working)
2014: ~$80k
2015: ~$190k
2016: ~$300k
2017: ~$490k
2018: ~$550k
2019: ~$780k
2020 (YTD): ~$1M

About $220K of the $1M come from market returns. A bunch of it is in tax deferred accounts, so net worth after subtracting deferred taxes and capital gains is lower.
ymmt
Posts: 35
Joined: Fri Jul 10, 2020 10:59 am

Re: Share your net worth progression

Post by ymmt »

boglehat wrote: Wed Aug 12, 2020 3:32 pm DW and I just hit $1M this week :D! (current ages ~29, no kids yet, VHCOL)

Our earnings have fluctuated widely based on career choices, but throughout we've aimed to save 50%+ and have stayed the course with a simple 3 fund portfolio. ~90% equities throughout, with a plan to lower it over time.

2013: ~$20k (started working)
2014: ~$80k
2015: ~$190k
2016: ~$300k
2017: ~$490k
2018: ~$550k
2019: ~$780k
2020 (YTD): ~$1M

About $220K of the $1M come from market returns. A bunch of it is in tax deferred accounts, so net worth after subtracting deferred taxes and capital gains is lower.
You guys are going at an incredible clip, congrats.
Andysgr
Posts: 7
Joined: Sun Jan 28, 2018 6:40 pm

Re: Share your net worth progression

Post by Andysgr »

Mako52 wrote: Thu Aug 06, 2020 8:56 am
Andysgr wrote: Sat Aug 01, 2020 4:57 am Ages 47/45

2008 328k
2009 349k
2010 503k
2011 630k
2012 742k
2013 901k
2014 1.073M
2015 1.2n11M
2016 2.568M (1.2M Inheritance)
2017 2.92M
2018 3.29M

2019 3.896M
2020 (August) 4.041M
@andysgr - S&P was down around 8% in 2018 IIRC......mind if I ask how you were up ~10%/300k that year? (whatever you did worked well!)
100k from sale of business interest plus adding funds to investment accounts
goos_news
Posts: 29
Joined: Mon Jun 10, 2019 7:14 pm

Re: Share your net worth progression

Post by goos_news »

novemberrain wrote: Tue Aug 11, 2020 8:08 pm
kleiner wrote: Tue Aug 11, 2020 12:42 pm $2M is the point where things started to look much more comfortable for me too.
Would you mind sharing how crossing each Million felt for you psychologically ?

Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future.
Crossing the first 1M in my thirties felt like a huge achievement; for about a month. Then I immediately began thinking about 4 to 5 M; and 5M felt unattainable.
Once I crossed 2, it felt like 5 is something I can hit. 5M no longer seems unattainable.
Thats where I am at now.

Curious to know what other people felt when they crossed 1,2, 3, 4, 5 +.. Millions
I remember noting the 1 mark because of its significance. Nothing special to celebrate, but a somewhat weird feeling. Like many others, 2 and 3 passed pretty easily, but 5 was more notable. As we neared 10 early in the year it raised some attention. I remember also feeling the same as 1M after I had some monte carlo analysis done on an early retirement scenario a few years ago and it showed an estate of 16 at death. Now the plans have been adjusted, as that was not the goal.
investingdad
Posts: 1786
Joined: Fri Mar 15, 2013 10:41 pm

Re: Share your net worth progression

Post by investingdad »

Word of caution...

You may find that higher net worth numbers decreases your tolerance of obnoxious work people.... especially the executive ones that may or may not have a net worth that matches their salary based on spending.

We're not quite there yet, but closing in on our target.

But after crossing a minor milestone and having an irritating interaction with a VEEP on the same day, it gets very very tempting to let him know what I really think of him.
ScroogeMcDuck
Posts: 83
Joined: Thu Jan 22, 2015 4:25 pm

Re: Share your net worth progression

Post by ScroogeMcDuck »

At age 36, our net worth is currently $3.4 million, about a third of which is home equity. We've been in the workforce for 11 years (with bouts of unemployment) and our household gross income has ranged from $160-300k.

Considering I started learning about investing just 6 years ago, I'm astonished at the amount. For the most part, we have a 3 fund portfolio and rebalance according to our one page IPS. I'm grateful to the Bogleheads for giving me the confidence to invest simply on my own, without any fear that I'm missing out or in danger when I hear about complicated strategies or dire predictions. My only financial regret is that I didn't start index investing sooner.

2010: $30k (I started working)
2011: $150k
2012: $410k (got married; combined my $310k savings with spouse's $100k savings; spouse unemployed)
2013: $650k
2014: $920k ($100k inheritance; pay cut)
2015: $1.2m (spouse found a job; I found Bogleheads and started index investing)
2016: $1.4m
2017: $1.8m
2018: $2.2m (pay cut)
2019: $2.6m
2020: $3.2m
Current: $3.4m
ymmt
Posts: 35
Joined: Fri Jul 10, 2020 10:59 am

Re: Share your net worth progression

Post by ymmt »

ScroogeMcDuck wrote: Fri Aug 14, 2020 9:18 am At age 36, our net worth is currently $3.4 million, about a third of which is home equity. We've been in the workforce for 11 years (with bouts of unemployment) and our household gross income has ranged from $160-300k.

Considering I started learning about investing just 6 years ago, I'm astonished at the amount. For the most part, we have a 3 fund portfolio and rebalance according to our one page IPS. I'm grateful to the Bogleheads for giving me the confidence to invest simply on my own, without any fear that I'm missing out or in danger when I hear about complicated strategies or dire predictions. My only financial regret is that I didn't start index investing sooner.

2010: $30k (I started working)
2011: $150k
2012: $410k (got married; combined my $310k savings with spouse's $100k savings; spouse unemployed)
2013: $650k
2014: $920k ($100k inheritance; pay cut)
2015: $1.2m (spouse found a job; I found Bogleheads and started index investing)
2016: $1.4m
2017: $1.8m
2018: $2.2m (pay cut)
2019: $2.6m
2020: $3.2m
Current: $3.4m
This is impressive progress. If you don't mind me asking, how did you manage to navigate 2018 without losses using index funds? And you managed to save >$300K by yourself after only 3 years of working??? I don't think I hit that until many years later.
ScroogeMcDuck
Posts: 83
Joined: Thu Jan 22, 2015 4:25 pm

Re: Share your net worth progression

Post by ScroogeMcDuck »

ymmt wrote: Fri Aug 14, 2020 9:43 am This is impressive progress. If you don't mind me asking, how did you manage to navigate 2018 without losses using index funds? And you managed to save >$300K by yourself after only 3 years of working??? I don't think I hit that until many years later.
Thanks, these figures are as of February 1 to include year end bonuses, so the December 2018 dip doesn't show up.

My industry is high pay / long hours right out of school and then falls off sharply if you don't stay on that track. I made almost $200k per year the first few years out of school and saved aggressively with the expectation that those would be my highest earning years (and indeed I make less now than I did 10 years ago, albeit at a very very reduced schedule).
User avatar
Tamarind
Posts: 2226
Joined: Mon Nov 02, 2015 2:38 pm

Re: Share your net worth progression

Post by Tamarind »

Investible net worth (no home equity) now north of $500k. It feels like, after 10 years of really focused saving/investing, the slope of the curve is starting to tilt upward.

:sharebeer
jarjarM
Posts: 276
Joined: Mon Jul 16, 2018 1:21 pm

Re: Share your net worth progression

Post by jarjarM »

investingdad wrote: Fri Aug 14, 2020 6:53 am Word of caution...

You may find that higher net worth numbers decreases your tolerance of obnoxious work people.... especially the executive ones that may or may not have a net worth that matches their salary based on spending.

We're not quite there yet, but closing in on our target.

But after crossing a minor milestone and having an irritating interaction with a VEEP on the same day, it gets very very tempting to let him know what I really think of him.
+1, the BS meter definitely fills up fast as ones net worth goes up. :beer
investingdad
Posts: 1786
Joined: Fri Mar 15, 2013 10:41 pm

Re: Share your net worth progression

Post by investingdad »

novemberrain wrote: Tue Aug 11, 2020 8:08 pm
kleiner wrote: Tue Aug 11, 2020 12:42 pm $2M is the point where things started to look much more comfortable for me too.
Would you mind sharing how crossing each Million felt for you psychologically ?

Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future.
Crossing the first 1M in my thirties felt like a huge achievement; for about a month. Then I immediately began thinking about 4 to 5 M; and 5M felt unattainable.
Once I crossed 2, it felt like 5 is something I can hit. 5M no longer seems unattainable.
Thats where I am at now.

Curious to know what other people felt when they crossed 1,2, 3, 4, 5 +.. Millions
Hitting 1 felt like a really big deal, especially since we were still under 40. Barely, but under.

At the time, I thought 2 maybe wasn't that big of a step but 3 would be.

I've now come to realize that each is a significant milestone for us. I don't celebrate it, but I admit to looking at the total in Quicken with a touch of disbelief.

We are sitting at the 3.5 mark at the moment, which means we've added 2.5 in eight years. The more relevant metric is the rate of addition. It suggests that we have a shot at adding another 2.5 in another eight years, putting us at 6 by age 55. My "pretty sure we've got enough" target is 5. So my conclusion is we are on track to hit our number before 55.

Anything can happen, but the rate of addition is an important metric to me.
lostdog
Posts: 3169
Joined: Thu Feb 04, 2016 2:15 pm

Re: Share your net worth progression

Post by lostdog »

Tamarind wrote: Fri Aug 14, 2020 4:51 pm Investible net worth (no home equity) now north of $500k. It feels like, after 10 years of really focused saving/investing, the slope of the curve is starting to tilt upward.

:sharebeer
Congratulations. At 500k, the returns will start over taking your contributions. It will feel like your contributions aren't making much of a dent. The journey from 500k to 1 million will be 5 years or less.
IHaveQuestions
Posts: 6
Joined: Sun Feb 17, 2019 5:14 pm

Re: Share your net worth progression

Post by IHaveQuestions »

IHaveQuestions wrote: Sat Aug 24, 2019 7:52 pm Went through and created a net worth statement for the boss and I...thought it important since we are buying our first house right now.
34(me)/30(her) 150k income HCOL area. So net worth excludes any home equity for now....

2019: 167k
2020: 215k (35/31 185-190k Income) - Bought first house in January...lot of out of pocket expenses to purchase, etc.
joshuabell
Posts: 5
Joined: Fri Dec 19, 2014 12:04 pm

Re: Share your net worth progression

Post by joshuabell »

Hit $6mm mark this week!
stocknoob4111
Posts: 1505
Joined: Sun Jan 07, 2018 12:52 pm

Re: Share your net worth progression

Post by stocknoob4111 »

I started tracking my net worth monthly starting August 2018, here it is so far...

8/31/2018 $499,084
9/30/2018 $500,687
10/31/2018 $477,138
11/30/2018 $489,595
12/31/2018 $472,230
1/31/2019 $513,963
2/28/2019 $531,865
3/31/2019 $535,647
4/30/2019 $558,572
05/31/2019 $533,853
06/29/2019 $571,243
07/31/2019 $579,404
08/31/2019 $573,772
09/30/2019 $589,236
10/31/2019 $606,712
11/30/2019 $625,817
12/31/2019 $648,531
01/31/2020 $655,596
02/29/2020 $617,105
03/31/2020 $537,441
04/30/2020 $598,372
5/31/2020 $623,947
06/30/2020 $641,709
07/31/2020 $670,798
08/15/2020 $693,974

My all time high on a daily basis is $701,006 on 2/12/2020 so I still have not hit that... mainly due to my allocation of Small Caps (SP600 - VTMSX) and International (VFWAX) that have not done too well. Infact, both funds are below their 2018 values. My hope is that those funds will recover in time.
TroutMD
Posts: 86
Joined: Tue Dec 25, 2012 10:58 am

Re: Share your net worth progression

Post by TroutMD »

novemberrain wrote: Tue Aug 11, 2020 8:08 pm
kleiner wrote: Tue Aug 11, 2020 12:42 pm $2M is the point where things started to look much more comfortable for me too.
Would you mind sharing how crossing each Million felt for you psychologically ?

Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future.
Crossing the first 1M in my thirties felt like a huge achievement; for about a month. Then I immediately began thinking about 4 to 5 M; and 5M felt unattainable.
Once I crossed 2, it felt like 5 is something I can hit. 5M no longer seems unattainable.
Thats where I am at now.

Curious to know what other people felt when they crossed 1,2, 3, 4, 5 +.. Millions
I am 40, DW is 39. We just crossed 3.5m net worth.

1m felt the best around 2013/2014. 2m kind of flew by, was really busy with career.

Our goal has always been to have about 3m in the market, to have a 4% withdrawal by age mid 50s, inflation adjusted.

I certainly think about 5m now, but am admittedly less 'worried about it'. I enjoy the work I do, we pretty much do/buy what we want within reason, and with current trajectory, assume we will exceed 5m in the next 10 years. I think hitting 5m will be the best feeling.
bigtex
Posts: 289
Joined: Fri Jan 26, 2018 10:34 am

Re: Share your net worth progression

Post by bigtex »

If I’m at 330k net worth at 30, is it likely for me to reach $1 million by 40?
TroutMD
Posts: 86
Joined: Tue Dec 25, 2012 10:58 am

Re: Share your net worth progression

Post by TroutMD »

bigtex wrote: Sun Aug 16, 2020 1:43 pm If I’m at 330k net worth at 30, is it likely for me to reach $1 million by 40?
Good if you stay the course and continue to max retirement vehicles.
l1am
Posts: 367
Joined: Wed Mar 02, 2016 2:27 pm

Re: Share your net worth progression

Post by l1am »

novemberrain wrote: Tue Aug 11, 2020 8:08 pm Would you mind sharing how crossing each Million felt for you psychologically ?

Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future.
Crossing the first 1M in my thirties felt like a huge achievement; for about a month. Then I immediately began thinking about 4 to 5 M; and 5M felt unattainable.
Once I crossed 2, it felt like 5 is something I can hit. 5M no longer seems unattainable.
Thats where I am at now.

Curious to know what other people felt when they crossed 1,2, 3, 4, 5 +.. Millions
Why did your goal change from $2.5M?

Seems like an obsession over numbers, rather than optimizing for life satisfaction.
angelescrest
Posts: 1083
Joined: Tue May 27, 2008 10:48 am
Location: Texas

Re: Share your net worth progression

Post by angelescrest »

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.
Maybe there’s some flaunting, but for the most part I find it instructive. At the least I find there is historical significance. Social science has long established the influence of your peers/neighbors. If I let my neighborhood or coworkers solely influence my financial activity, then I would be in significant debt, pay $1000 a month in car loans, have little in retirement savings and no emergency fund. Instead, I treat the BG forum as a notable part of my community. Reading about all the people here who post their savings reminds me not to feel like I’m somehow doing great as far as saving goes, resulting in me raising the bar. So I find threads like these to be very useful. I will add though that I tend to focus on the posts from those who demonstrate more modest levels or income (closer to the median) as there’s less relevance to me about net worth progression from those who make 5-10x what I make. I especially appreciate those who share their profession and notes on their progression (e.g., inheritance, house prices, etc).
angelescrest
Posts: 1083
Joined: Tue May 27, 2008 10:48 am
Location: Texas

Re: Share your net worth progression

Post by angelescrest »

novemberrain wrote: Sun Aug 09, 2020 1:48 pm
goos_news wrote: Sat Aug 08, 2020 2:41 am 2020: 9.1M
Awesome, you have a chance to be at 20+ before you retire ! Inspiring.
What’s so inspiring about a chance to be at 20+? What’s impressive is them enjoying their work and living off of 100-120 considering their very high income.
holycow007
Posts: 128
Joined: Sun Aug 19, 2012 10:23 pm

Re: Share your net worth progression

Post by holycow007 »

holycow007 wrote: Mon Dec 04, 2017 7:46 am 2007 - 0 (got married) - age 28
2010- 80K (had a kid)
2013 - 150K
2014- didn't track
2015- didn't track
2016 - 500K
2017: 700K (adopted our retriever) - age 38
2018 - 900K
2019 - 1.15M
2020 - 1.3M
User avatar
calvin+hobbes
Posts: 145
Joined: Thu Jan 16, 2020 9:37 pm

Re: Share your net worth progression

Post by calvin+hobbes »

TroutMD wrote: Sun Aug 16, 2020 1:35 pm
novemberrain wrote: Tue Aug 11, 2020 8:08 pm
kleiner wrote: Tue Aug 11, 2020 12:42 pm $2M is the point where things started to look much more comfortable for me too.
Would you mind sharing how crossing each Million felt for you psychologically ?

Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future.
Crossing the first 1M in my thirties felt like a huge achievement; for about a month. Then I immediately began thinking about 4 to 5 M; and 5M felt unattainable.
Once I crossed 2, it felt like 5 is something I can hit. 5M no longer seems unattainable.
Thats where I am at now.

Curious to know what other people felt when they crossed 1,2, 3, 4, 5 +.. Millions
I am 40, DW is 39. We just crossed 3.5m net worth.

1m felt the best around 2013/2014. 2m kind of flew by, was really busy with career.

Our goal has always been to have about 3m in the market, to have a 4% withdrawal by age mid 50s, inflation adjusted.

I certainly think about 5m now, but am admittedly less 'worried about it'. I enjoy the work I do, we pretty much do/buy what we want within reason, and with current trajectory, assume we will exceed 5m in the next 10 years. I think hitting 5m will be the best feeling.
Are you a physician? Guessing based off your username. If so, would you mind sharing when you completed training and if you are a dual income household?

I finished training fellowship in 2018 at the age of 31. We had a net worth of -75k (a combined 280k in student loans) at the time and are up to north of 700k now at age 33.

3.5MM by age 40 would feel amazing from where I currently sit.
novemberrain
Posts: 489
Joined: Wed May 09, 2018 12:26 pm

Re: Share your net worth progression

Post by novemberrain »

l1am wrote: Sun Aug 16, 2020 4:06 pm
novemberrain wrote: Tue Aug 11, 2020 8:08 pm Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future.
Why did your goal change from $2.5M?
I had a increase in income around the time I crossed 1. Also, psychologically, 5 feels attainable once I crossed 1.
l1am wrote: Sun Aug 16, 2020 4:06 pm Seems like an obsession over numbers, rather than optimizing for life satisfaction.
I do enjoy life and spend. But having said that, I think having big goals is also a good thing psychologically. As warren buffet said - "you move in the direction of your friends". If I consider bogleheads as my friends, it is a good thing to have high goals; while still enjoying the ride.
angelescrest wrote: Sun Aug 16, 2020 4:18 pm
novemberrain wrote: Sun Aug 09, 2020 1:48 pm
goos_news wrote: Sat Aug 08, 2020 2:41 am 2020: 9.1M
Awesome, you have a chance to be at 20+ before you retire ! Inspiring.
What’s so inspiring about a chance to be at 20+? What’s impressive is them enjoying their work and living off of 100-120 considering their very high income.
it is inspiring to me in that maybe I can get there too.
marathonfi
Posts: 11
Joined: Thu Dec 05, 2019 8:34 am

Re: Share your net worth progression

Post by marathonfi »

6/2013 - (30K) students loans and started working $65k/yr income
2014 - 0K NW. 68k income
2015 - 30k NW. 72K income
2016 - 60k NW. 82k income
2017 - 110k NW. 86k income
2018 - 186k NW. 90k income with 5k OT
1/2019 - 250k NW. 105k income with 15-20K OT
1/2020 - 400k NW. 108k income
3/2020 - 320k NW.
8/2020 - 528k NW.

These past 18 months have been unreal. My NW doubled despite the crazy times. I'm putting a lot of my salary towards investments and the markets have been have been swinging like crazy, but I'm holding on for the long haul.
HenryG
Posts: 11
Joined: Wed Aug 12, 2020 12:50 pm

Re: Share your net worth progression

Post by HenryG »

angelescrest wrote: Sun Aug 16, 2020 4:09 pm
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.
Maybe there’s some flaunting, but for the most part I find it instructive. At the least I find there is historical significance. Social science has long established the influence of your peers/neighbors. If I let my neighborhood or coworkers solely influence my financial activity, then I would be in significant debt, pay $1000 a month in car loans, have little in retirement savings and no emergency fund. Instead, I treat the BG forum as a notable part of my community. Reading about all the people here who post their savings reminds me not to feel like I’m somehow doing great as far as saving goes, resulting in me raising the bar. So I find threads like these to be very useful. I will add though that I tend to focus on the posts from those who demonstrate more modest levels or income (closer to the median) as there’s less relevance to me about net worth progression from those who make 5-10x what I make. I especially appreciate those who share their profession and notes on their progression (e.g., inheritance, house prices, etc).
+1 I appreciate and learn from this as well
ChiKid24
Posts: 329
Joined: Fri Aug 09, 2019 3:43 pm

Re: Share your net worth progression

Post by ChiKid24 »

I've been following this thread for some time and find it inspiring. I started tracking my account balances back in 2007 when I was 30. Most of my years before then were spent in school (4 years college, 4 years grad school). The numbers and tracking has been fine tuned over the years so more recent years are more accurate. I married into a sizeable chunk of grad school debt (low 6 figures), but we worked hard to pay it off and are doing our best to save as much as we can every year despite living in HCOL area with two kids and child care costs (Nanny and day care)

Ages: 35/43, married two kids
Total gross income (excluding investment income): $400k (was higher for most of the years)
Own house with $720k mortgage on $1.1M+ value (part of NW calculation)

Progression:
2007 - Age 30: $223K
2008 - Age 31: $410K (the highest year of medicare taxed earnings I've ever had)
2009 - Age 32: $487K
2010 - Age 33: $730K
2011 - Age 34: $650K
2012 - Age 35: $715K
2013 - Age 36: $1.1M (hit $1M 14 years after first post-college job)
2014 - Age 37: $1.3M
2015 - Age 38: $1.5M
2016 - Age 39: $1.9M
2017 - Age 40: $2.2M (hit $2M less than 4 years later...largely due to house appreciation, sold in 2018)
2018 - Age 41: $2.0M (never dipper below $2M, but it was close)
2019 - Age 42: $2.3M
2020 (today) - Age 43: $2.6M (dipped below $2M in March, but kept rebalancing to plan and have had great run back up)

Would be nice if money doubles every 7 years and to hit $5M by 50. If not, I'll keep chugging a bit longer to get there. But I'm saving a lot more now than I did in my 30s despite making less. Also feel better with my investment choices thanks to this forum. Thanks to all!
alex123711
Posts: 242
Joined: Sun May 20, 2018 5:01 am

Re: Share your net worth progression

Post by alex123711 »

marathonfi wrote: Mon Aug 17, 2020 9:33 am 6/2013 - (30K) students loans and started working $65k/yr income
2014 - 0K NW. 68k income
2015 - 30k NW. 72K income
2016 - 60k NW. 82k income
2017 - 110k NW. 86k income
2018 - 186k NW. 90k income with 5k OT
1/2019 - 250k NW. 105k income with 15-20K OT
1/2020 - 400k NW. 108k income
3/2020 - 320k NW.
8/2020 - 528k NW.

These past 18 months have been unreal. My NW doubled despite the crazy times. I'm putting a lot of my salary towards investments and the markets have been have been swinging like crazy, but I'm holding on for the long haul.
How did it double so fast? Were you putting basically all your income into the market?
DoubleR
Posts: 32
Joined: Tue Jul 18, 2017 7:10 am

Re: Share your net worth progression

Post by DoubleR »

After reading thru these posts I have come to the conclusion that I need to save more...😀

Probably wrong but I haven't tracked my net worth just my 401k for the last few years. Really didnt start saving alot (besides my 401k) until about 5yrs ago. I have a taxable account and a Roth IRA now though.
ChiKid24
Posts: 329
Joined: Fri Aug 09, 2019 3:43 pm

Re: Share your net worth progression

Post by ChiKid24 »

DoubleR wrote: Mon Aug 17, 2020 7:13 pm After reading thru these posts I have come to the conclusion that I need to save more...😀

Probably wrong but I haven't tracked my net worth just my 401k for the last few years. Really didnt start saving alot (besides my 401k) until about 5yrs ago. I have a taxable account and a Roth IRA now though.
I used to think maxing the 401k was sufficient. So glad I came across bogleheads and started doing more. Forced me to live on less and save more. Much more peace of mind.
student
Posts: 5155
Joined: Fri Apr 03, 2015 6:58 am

Re: Share your net worth progression

Post by student »

OutrageousBasilone11 wrote: Sat Aug 08, 2020 6:26 pm Facinated with some of the replies in this thread. I'm going to contribute though my numbers are neither impressive or frankly very interesting. For whomever is interested.

2016: 17 - Started working at 17, supermarket job, zero quals required bottom of the barrel type work. ($13.70/hr) $0 to my name
2017: 18 - $6,500
2018: 19 - I moved for work at 19, spent all my savings on a car and expenses as the paycheck didn't come through for the first month or so.($14/hr)
2019: 20 - $2000
2020: 21 - $8500

About to start my third year of uni whilst working - Degree paid off by my work.

I figure I'm right at the bottom of the barrel here, if nothing else my reply can serve as something different to all the incredible net worths you folk have built up.
Congratulations. This is awesome. You are so far ahead of your peers.
loukycpa
Posts: 38
Joined: Wed Aug 05, 2020 9:52 am

Re: Share your net worth progression

Post by loukycpa »

I'm 47, wife is 45.

12/31/10 $470k
12/31/11 $514k
12/31/12 $568k
12/31/13 $626k
12/31/14 $699k
12/31/15 $746k
12/31/16 $831k
12/31/17 $1.06M
12/31/18 $1.19M
12/31/19 $1.48M
8/17/20 $1.65M

Savings side I give myself an A. For 25 years we have been grinding and consistently lived under our means. Income climbed steadily over the years and then in 2017 have had significant increase with a promotion and wife returning to the workforce full time. Total savings (investments, trade up to nicer home, capital contributed to firm) during that 9.5 year period - $850k.

Investing a D. I've lost my nerve a lot and been out of the market when I should have stayed the course. If someone could have convinced my 22 year old self to just invest in a stock index fund and to stop looking at it, I bet I'd be comfortably retired today (or at least able to). Portfolio gains during that 9.5 year period - $320k. I plan to do a 50% equity/50% bond forever going forward come hell or high water.
User avatar
novolog
Posts: 44
Joined: Tue Jan 30, 2018 6:24 pm

Re: Share your net worth progression

Post by novolog »

Combined net worth for my wife and I, followed by combined gross income. We are 28 years old.

Code: Select all

	Total Net Worth	Total Gross Income
2014	-$48,000	$32,000 (both graduate undergrad)
2015	-$35,000	$97,000
2016	-$5,000 	$146,000
2017	$49,000 	$165,000
2018	$112,000	$156,000
2019	$177,000	$167,000
2020	$250,000	$170,000 (net worth number for 2020 will likely increase by EOY)
Our plan is to hit 750k by age 35. The math says that market momentum will carry us from there, even if we are unable to save further. Time is on our side. This will give us the option to shift our focus away from our careers and towards our family at a point in time when many of our peers will likely be doing the opposite because of increased financial obligations.
Mofire
Posts: 19
Joined: Thu Aug 06, 2020 9:28 am

Re: Share your net worth progression

Post by Mofire »

loukycpa wrote: Mon Aug 17, 2020 9:27 pm If someone could have convinced my 22 year old self to just invest in a stock index fund and to stop looking at it, I bet I'd be comfortably retired today (or at least able to).
Nice work on getting to this point. Don't let conditional thinking bring you down. We all have "if I only did this ...". If your strategy allowed you to sleep better at night over the years, that is more important in my opinion.
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