Share your net worth progression

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Glockenspiel
Posts: 1095
Joined: Thu Feb 08, 2018 1:20 pm

Re: Share your net worth progression

Post by Glockenspiel » Wed Jul 01, 2020 4:45 pm

e5116 wrote:
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)
Lots of people with the incomes on this board bought more stocks as the market was tanking. I did and am not even that high of income, and have seen a really good return on that money.

slowbutsteady
Posts: 100
Joined: Fri Feb 27, 2015 9:42 am

Re: Share your net worth progression

Post by slowbutsteady » Thu Jul 02, 2020 11:28 am

I'm with e5116.

We are still below our December 2019 portfolio despite non-stop investing (even had some nice five figures dump into the market in March), and with unflinching 90/10 thought it all

My guess is many of the big jumps may be from
- small biz efforts
- real estate value growth
- massive contributions (or grants) relative to portfolio or
- some nice lucky stick picks

Good to see the progression all the same.
The tortoise wins every time I read that story.

jabroni
Posts: 25
Joined: Thu May 23, 2019 4:10 pm

Re: Share your net worth progression

Post by jabroni » Fri Jul 03, 2020 8:04 pm

Mid-year update:

12/31/2015: $11k
6/30/2016: $15.2k
12/31/2016: $22.6k
6/30/2017: $35k
12/31/2017: $49.3k
6/30/2018: $41.3k
12/31/2018: $60.9k
6/30/2018: $88.9k
12/31/2019: $136.9k
6/30/2020: $169.5k

The $69.5k is allocated as follows:
Cash: $21.6k
Investments: $102.4k
Vested pension: $13.6k
Net home value: $31.9k

grettman
Posts: 583
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Re: Share your net worth progression

Post by grettman » Sat Jul 04, 2020 6:39 am

slowbutsteady wrote:
Thu Jul 02, 2020 11:28 am
I'm with e5116.

We are still below our December 2019 portfolio despite non-stop investing (even had some nice five figures dump into the market in March), and with unflinching 90/10 thought it all

My guess is many of the big jumps may be from
- small biz efforts
- real estate value growth
- massive contributions (or grants) relative to portfolio or
- some nice lucky stick picks

Good to see the progression all the same.
I am down 1.5% since EOY 2019 and that is with 6 months of contributions to both my wife's and my 401K accounts and two fully funded Roth IRAs.

Shaka
Posts: 24
Joined: Sat Jul 04, 2020 8:04 pm

Re: Share your net worth progression

Post by Shaka » Sat Jul 04, 2020 9:20 pm

Discovered Bogleheads a few months ago. First post. I have a lot to learn! Thanks all for sharing; my mind is already blown.

STATS:
AGE: 40
MARITAL STATUS: Never married, no kids

KEY DATES (year,age):
2007, 27: Graduated w/ no debt (worked to pay for school)
2007, 27: First job! Very low 401K contributions...saving for house
2012, 32: House purchase. ~$550K w/ ~$150K down payment (30year, 3.5%)
2019, 39: Realized I should start funding my 401K
2020, 40: First year maxing out 401K
2020, 40: Discovered Bogleheads. Have a lot to learn.

NET WORTH
Estimated value on 12/31 of listed year
I show estimated value of my key assets: 401K/403B, taxable, home equity, cash
Cost basis (CB) is value contributed to those assets from my earnings (plus employer 401K match)
Net worth is the TOTAL column

Code: Select all

YEAR  AGE  PRETAX  TAX   HOUSE  CASH   TOTAL   COSTBASIS
2007  27   4k      0k    0k     20k    24k     24k
2008  28   8k      0k    0k     40k    48k     48k
2009  29   13k     0k    0k     60k    73k     73k
2010  30   19k     0k    0k     80k    99k     99k
2011  31   24k     0k    0k     100k   124k    123k
2012  32   34k     0k    153k   10k    197k    197k
2013  33   46k     0k    258k   20k    324k    232k
2014  34   55k     0k    318k   30k    403k    268k
2015  35   59k     0k    368k   50k    478k    313k
2016  36   71k     0k    470k   70k    611k    360k
2017  37   93k     0k    516k   90k    700k    407k
2018  38   101k    0k    547k   110k   758k    463k
2019  39   161k    0k    582k   120k   863k    526k
2020  40   229k    125k  626k   20k    1000k   627k
Edited for length
Last edited by Shaka on Sat Aug 08, 2020 7:30 pm, edited 1 time in total.

trueson1
Posts: 125
Joined: Mon Mar 13, 2017 11:40 am

Re: Share your net worth progression

Post by trueson1 » Sun Jul 05, 2020 8:00 pm

Just started to track this in 2006.

2006: $270,191
2007: $290,721
2008: $279,900
2009: $372,471
2010: $462,573
2011: $526,462
2012: $630,821
2013: $759,504
2014: $1,018,000
2015: $1,104,137
2016: $1,281,376
2017: $1,576,776
2018: $1,606,116
2019: $2,456,255
2020: $2,595,176

Pulling the plug and retiring next year when I turn 65.

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LadyGeek
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Re: Share your net worth progression

Post by LadyGeek » Sun Jul 05, 2020 8:11 pm

^^^ Make it official and post here: Roll Call for the Retirement Class of 2021!
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

l1am
Posts: 341
Joined: Wed Mar 02, 2016 2:27 pm

Re: Share your net worth progression

Post by l1am » Sun Jul 05, 2020 8:13 pm

trueson1 wrote:
Sun Jul 05, 2020 8:00 pm
Just started to track this in 2006.

2006: $270,191
2007: $290,721
2008: $279,900
2009: $372,471
2010: $462,573
2011: $526,462
2012: $630,821
2013: $759,504
2014: $1,018,000
2015: $1,104,137
2016: $1,281,376
2017: $1,576,776
2018: $1,606,116
2019: $2,456,255
2020: $2,595,176

Pulling the plug and retiring next year when I turn 65.
Congrats, huge 50% jump in 2018!

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abuss368
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Re: Share your net worth progression

Post by abuss368 » Sun Jul 05, 2020 9:13 pm

trueson1 wrote:
Sun Jul 05, 2020 8:00 pm
Just started to track this in 2006.

2006: $270,191
2007: $290,721
2008: $279,900
2009: $372,471
2010: $462,573
2011: $526,462
2012: $630,821
2013: $759,504
2014: $1,018,000
2015: $1,104,137
2016: $1,281,376
2017: $1,576,776
2018: $1,606,116
2019: $2,456,255
2020: $2,595,176

Pulling the plug and retiring next year when I turn 65.
Awesome and congrats!
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

averagedude
Posts: 1158
Joined: Sun May 13, 2018 3:41 pm

Re: Share your net worth progression

Post by averagedude » Sun Jul 05, 2020 9:28 pm

I got wealthy on an average income by SSI. Not social security, but sacrificing, savings, and investing.

sylph
Posts: 38
Joined: Fri Jul 12, 2019 10:02 am

Re: Share your net worth progression

Post by sylph » Sun Jul 05, 2020 10:07 pm

Age 27
2017: -50K (Graduated with student loan from family, 100K job offer :happy )
2018: 30K ( Paid all the student loan :D )
2019: 180K (Got married and saved /invested >50% of 200K Gross combined income 8-) )
2020: 250K (June)

Chris001122
Posts: 229
Joined: Tue Mar 09, 2010 12:50 pm
Location: The Upcountry, South Carolina

Re: Share your networth progression

Post by Chris001122 » Mon Jul 06, 2020 7:17 am

TradingPlaces wrote:
Mon Dec 01, 2014 11:38 pm
What is the point of this thread? And I am not being sarcastic.
The book, The Millionaire Next Door, took a survey of millionaires. They asked the millionaires if they tracked their net worth

a. Yearly
b. Quarterly
c. Monthly
d. Not at all

If I recall the trend, almost all answered a, b, or c. The people who answered "a" had the least of the average net worths. Those who answered "b" had the second highest average net worth. And, yes, you guessed it, the folks that answered "c" or "monthly" had the very highest average net worth. So, I believe there is a strong correlation between measuring a metric and improving that metric, especially net worth. I am not surprised that people here track it and share about it freely. It's part of the gig.

I also believe the point would be to encourage others to track this as it is one of the keys to wealth building.
"It's always been a mistake to bet against the United States since 1776." - Warren Buffett

kleiner
Posts: 18
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Re: Share your networth progression

Post by kleiner » Mon Jul 06, 2020 8:01 am

Chris001122 wrote:
Mon Jul 06, 2020 7:17 am
The book, The Millionaire Next Door, took a survey of millionaires. They asked the millionaires if they tracked their net worth

a. Yearly
b. Quarterly
c. Monthly
d. Not at all

If I recall the trend, almost all answered a, b, or c. The people who answered "a" had the least of the average net worths. Those who answered "b" had the second highest average net worth. And, yes, you guessed it, the folks that answered "c" or "monthly" had the very highest average net worth. So, I believe there is a strong correlation between measuring a metric and improving that metric, especially net worth. I am not surprised that people here track it and share about it freely. It's part of the gig.

I also believe the point would be to encourage others to track this as it is one of the keys to wealth building.
There should be a "weekly" option :happy

Until last year, my accounts were a bit chaotic. Consequently, calculating net worth was a manual and tedious process. With retirement approaching, I did a major clean up and now I view all of my accounts in Quicken so I track my net worth on a weekly basis.

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techcrium
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Re: Share your net worth progression

Post by techcrium » Mon Jul 06, 2020 5:21 pm

lol at quoting a 2014 post above me...

I can't believe this thread is still going strong. That is amazing!


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 started this thread because I got tired of seeing posts in other forums such as "I have $3.2 million, if I can do it, so can you!"

I would rather see concrete numbers on how they progress YoY instead of looking at the final number.

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TechGuy365
Posts: 173
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Re: Share your net worth progression

Post by TechGuy365 » Mon Jul 06, 2020 6:20 pm

techcrium wrote:
Mon Jul 06, 2020 5:21 pm
lol at quoting a 2014 post above me...

I can't believe this thread is still going strong. That is amazing!


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 started this thread because I got tired of seeing posts in other forums such as "I have $3.2 million, if I can do it, so can you!"

I would rather see concrete numbers on how they progress YoY instead of looking at the final number.
One of my favorite threads on Bogleheads and what got me to sign up in the first place!

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abuss368
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Re: Share your networth progression

Post by abuss368 » Mon Jul 06, 2020 6:47 pm

Chris001122 wrote:
Mon Jul 06, 2020 7:17 am
TradingPlaces wrote:
Mon Dec 01, 2014 11:38 pm
What is the point of this thread? And I am not being sarcastic.
The book, The Millionaire Next Door, took a survey of millionaires. They asked the millionaires if they tracked their net worth

a. Yearly
b. Quarterly
c. Monthly
d. Not at all

If I recall the trend, almost all answered a, b, or c. The people who answered "a" had the least of the average net worths. Those who answered "b" had the second highest average net worth. And, yes, you guessed it, the folks that answered "c" or "monthly" had the very highest average net worth. So, I believe there is a strong correlation between measuring a metric and improving that metric, especially net worth. I am not surprised that people here track it and share about it freely. It's part of the gig.

I also believe the point would be to encourage others to track this as it is one of the keys to wealth building.
I enjoyed the book and learned much. I am not so sure I would put a lot of stock into the multiple choice question above however.
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

Kookaburra
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Re: Share your networth progression

Post by Kookaburra » Mon Jul 06, 2020 6:56 pm

abuss368 wrote:
Mon Jul 06, 2020 6:47 pm
I enjoyed the book and learned much. I am not so sure I would put a lot of stock into the multiple choice question above however.
Yes but, would you put a lot of bond into the multiple choice question?

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abuss368
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Re: Share your networth progression

Post by abuss368 » Mon Jul 06, 2020 6:57 pm

Kookaburra wrote:
Mon Jul 06, 2020 6:56 pm
abuss368 wrote:
Mon Jul 06, 2020 6:47 pm
I enjoyed the book and learned much. I am not so sure I would put a lot of stock into the multiple choice question above however.
Yes but, would you put a lot of bond into the multiple choice question?
:D :D :D :D
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

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Hawaiishrimp
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Re: Share your networth progression

Post by Hawaiishrimp » Wed Jul 08, 2020 11:49 pm

Chris001122 wrote:
Mon Jul 06, 2020 7:17 am
TradingPlaces wrote:
Mon Dec 01, 2014 11:38 pm
What is the point of this thread? And I am not being sarcastic.
The book, The Millionaire Next Door, took a survey of millionaires. They asked the millionaires if they tracked their net worth

a. Yearly
b. Quarterly
c. Monthly
d. Not at all

If I recall the trend, almost all answered a, b, or c. The people who answered "a" had the least of the average net worths. Those who answered "b" had the second highest average net worth. And, yes, you guessed it, the folks that answered "c" or "monthly" had the very highest average net worth. So, I believe there is a strong correlation between measuring a metric and improving that metric, especially net worth. I am not surprised that people here track it and share about it freely. It's part of the gig.

I also believe the point would be to encourage others to track this as it is one of the keys to wealth building.
I do it by-weekly. And, The Millionaire Next Door is THE book that enlightened me.
I save and invest my money, so money can make money for me, so I don't have to make money eventually.

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btq96r
Posts: 153
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Re: Share your net worth progression

Post by btq96r » Thu Jul 09, 2020 3:11 am

Finally stabilizing >$200k after brushing it right before CoronaMania hit.

At age 38 with no kids and a high five figure salary, I've got a lot of room to invest, so I like my chances for future wealth building.
Moderation is for Canadians.

Mrxyz
Posts: 694
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Re: Share your networth progression

Post by Mrxyz » Fri Jul 10, 2020 1:14 pm

Chris001122 wrote:
Mon Jul 06, 2020 7:17 am
TradingPlaces wrote:
Mon Dec 01, 2014 11:38 pm
What is the point of this thread? And I am not being sarcastic.
The book, The Millionaire Next Door, took a survey of millionaires. They asked the millionaires if they tracked their net worth

a. Yearly
b. Quarterly
c. Monthly
d. Not at all

If I recall the trend, almost all answered a, b, or c. The people who answered "a" had the least of the average net worths. Those who answered "b" had the second highest average net worth. And, yes, you guessed it, the folks that answered "c" or "monthly" had the very highest average net worth. So, I believe there is a strong correlation between measuring a metric and improving that metric, especially net worth. I am not surprised that people here track it and share about it freely. It's part of the gig.

I also believe the point would be to encourage others to track this as it is one of the keys to wealth building.
Surely most of us do not believe this is a cause and effect situation right?
Statistics are 'unidirectional' and only identifies associations only.
"Millionaires tracked their net worth monthly" and so the reverse is NOT necessarily true - that "because they tracked their net worth monthly, they improved that metric, net worth".
And we are not going into other statistical details either - perhaps those who were very, very, very rich checked a. as they did not need/care to check it more frequently, or to look at the power of the study etc etc.

(Sorry if I am missing something obvious here!)

l1am
Posts: 341
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Re: Share your networth progression

Post by l1am » Fri Jul 10, 2020 1:19 pm

Chris001122 wrote:
Mon Jul 06, 2020 7:17 am
So, I believe there is a strong correlation between measuring a metric and improving that metric, especially net worth. I am not surprised that people here track it and share about it freely. It's part of the gig.

I also believe the point would be to encourage others to track this as it is one of the keys to wealth building.
Correlation is not causation, how was this data normalized against the obvious correlation that people who check often are obviously likely to be people who happen to care about their wealth or be obsessed with it?

There are other studies that show people who "forget" about particular investment accounts do better over the long term, vs. those that check and may be more likely to interfere.

I personally conclude that setting a rough AA and then just leaving it alone will have the same good outcome regardless of how often you check it.

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btq96r
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Re: Share your networth progression

Post by btq96r » Sun Jul 12, 2020 7:49 am

l1am wrote:
Fri Jul 10, 2020 1:19 pm
I personally conclude that setting a rough AA and then just leaving it alone will have the same good outcome regardless of how often you check it.
I've found that checking monthly keeps me focused, and makes me want to see good things every month. Having that cyclic reminder has my mind actively thinking about saving and investing. With that, I find myself checking impulse buys, or making a meal at home instead of eating out often enough. If I wasn't checking my accounts often, or updating a spreadsheet every month, I might not have that mental push to keep me from spending money I could otherwise save and invest.

Not saying it's the same for everyone, but it works for me, and I'd imagine some others as well.
Moderation is for Canadians.

eyemdusa
Posts: 16
Joined: Mon Aug 28, 2017 8:53 pm

Re: Share your net worth progression

Post by eyemdusa » Sun Jul 12, 2020 3:56 pm

Net worth (includes primary residence) and income progress
3 fund portfolio, followed advice from this forum starting 2017

2015: -120k (student loans and car loan), 350k income
2016: didn't track, but aggressively paid off loans and fully funded 401k, same income
2017: +150k (excluded 529 savings), 500k income
2018: 425k, started to account for primary residence appreciation using Zestimate (in our neighborhood, Zestimate is conservative) and started including 529 savings, same income
2019: 750k, same income
2020: as of today 1,080,000, less income this year due to COVID

sd323232
Posts: 551
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Re: Share your net worth progression

Post by sd323232 » Sun Jul 12, 2020 4:14 pm

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.
say i am European and wanna enroll into college in Europe, and keep changing my major for next 20 years. what will stop me from keep mooching off free education (and tax payers) in europe? im free spirit, it will take me sometime to find my passion.

BestCoast123
Posts: 8
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Re: Share your net worth progression

Post by BestCoast123 » Fri Jul 17, 2020 5:48 pm

STATS:
AGE: 34
JOB: Financial Services/Banking/Real Estate
STATE: VHCOL
EDUCATION: Masters
MARITAL STATUS: Engaged

KEY DATES (year,age):
2008, 22: Graduated undergrad... ~$30k in school loans. Lucky to get a job in finance (eventually).
2010, 24: Early life crisis, quit job. Volunteering while applying for next step.
2012, 26: Victim of Murphy's Law. Moved back across the country, lucky to get corporate job.
2015, 29: Start B School. Chose flagship school from back home due to scholarship. Less student debt than working full-time and going part-time at "fancy" school.
2017, 31: Start working while finishing school, graduate. Car totaled in hit and run. Buy low-mile used car.
2018, 32: Small bonus from work. Pay-off car loan.
2019, 33: Finally get > $100k base salary. Later get promoted with decent raise but less "upside." 1st time getting close to maxing 401k.
2020, 34: First "real" bonus, paid right before COVID. Maybe get married by year-end? COVID messed up our wedding plans. 1st Time Maxing HSA/401k/Back Door Roth.

GOALS
2024, 38 (SO 40): $1.0MM Combined Net Worth; SO as of 2020 has low-six figure income and ~$300k net worth comprised mostly of home equity.
2029, 43(SO 45): $1.75MM Combined Net Worth
2034, 48 (SO 50): $2.5MM Combined Net Worth
2039, 53 (SO 55): $4.0MM Combined Net Worth
2044, 58 (SO 60): $6.0MM Combined Net Worth

SALARY PROGRESSION (year,age)
Values are gross salary (before tax or deductions; end of year), includes Bonus and Profit Sharing
2008, 22: $40k + $5k signing + $5k bonus
2009, 23: $45K + $5k bonus +$5k profit share
2010, 24: $52.5K+ $5k profit share - quit job that summer
2011, 25: $0 - volunteered
2012, 26: $50k, minimal bonus
2013, 27: ~$60k
2014, 28: ~$65k
2015, 29: $75k before quitting for B School
2016, 30: ~$40k wages/scholarship plus free tuition for a year
2017, 31: ~$75k plus overtime (but minimal OT since finished last 2 quarters at night)
2018, 32: $99k + $15k bonus
2019, 33: $102.5k -> $130k + $30k bonus
2020, 34: $130k + $90k bonus


NET WORTH PROGRESSION (year,age), more guesswork on early years.
Values are gross salary (before tax or deductions; end of year), includes Bonus and Profit Sharing
2008, 22: ($30k)
2009, 23: ($15k)
2010, 24: $15
2011, 25: $0
2012, 26: $0
2013, 27: $10k
2014, 28: $20k
2015, 29: $30k
2016, 30: $0k, net of $45k in MBA Loans for 2nd Year
2017, 31: $10k, car totaled in hit and run. Bought nicer used car with $16k used car loan.
2018, 32: $50k. Paid off rest of car loan with bonus.
2019, 33: $100k, net of $35k in MBA loans. Got engaged.
2020, 34: $175k, net of $30k in MBA loans and includes my share of wedding savings. (MBA loans are variable, reset 7/1/2020 at ~0.8% :sharebeer )

Lessons Along The Way:
1. Grass is not always greener. 1st Job was awesome. In hindsight, I would never have left. And would be way ahead by now.
2. Don't quit a job without a firm next step. I had a good plan (and the stats were in my favor), life happens. Should have kept job while working through the hoops of the next plan. Huge mistake. Cost me 1.5 years in workforce and resulted in a big whole in the resume that was tough to overcome.
3. Don't take excessive risk in retirement accounts, especially after paying taxes on a roth conversion. Thinking of those energy stocks I rode most the way down through 2019... and I can't even harvest the tax losses! (And I knew better... but I learned my lesson.) Only mutual funds/index funds in my 401k and IRAs! Fun money should be in taxable.

Ignis
Posts: 96
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Re: Share your net worth progression

Post by Ignis » Wed Jul 22, 2020 8:54 am

Love this thread. Motivating to see others' updates throughout the years. Not sure if I've ever posted in it but thought I'd add my numbers to bring the average down a bit. :)

(end of year, to nearest thousand)
2011: ($10k) (Guesstimate)
2012: $24k
2013: $104k
2014: $195k
2015: $170k (motorcycle purchase, and didn't work for ~4 months :twisted: )
2016: $193k
2017: $252k (bought house with fiancé)
2018: $275k (fiancé left mid year, but I got a decent deal buying her out of the house :oops: )
2019: $312k

So far this year I am up despite market pullback, but it doesn't look like I will hit $400k as I had originally hoped. Still, no worries. :sharebeer

azianbob
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Re: Share your net worth progression

Post by azianbob » Fri Jul 24, 2020 6:19 pm

Just wanted to share that the wife and I have finally hit the $1M mark today (actually it probably was a couple days ago but work's been crazy so haven't had time to check). We lead very simple lives, drive old cars, live in an apartment and we don't brag about money to our friends or family so there was no one else to share the good news with.

I didn't start tracking net worth until I got married (before then I didn't have a tracked budget, I just never spent more than I earned in a given month).

12/31/2016 - $530,587.90
12/31/2017 - $687,993.32
12/31/2018 - $755,798.54
12/31/2019 - $945,940.98

7/24/2020 - $1,018,810.54

We do not own a house, all our assets are either 401k, IRA, HSA, Brokerage, Savings and CD.

Our only debt is our credit cards which we pay off in full each month.

Normchad
Posts: 860
Joined: Thu Mar 03, 2011 7:20 am

Re: Share your net worth progression

Post by Normchad » Fri Jul 24, 2020 7:27 pm

azianbob wrote:
Fri Jul 24, 2020 6:19 pm
Just wanted to share that the wife and I have finally hit the $1M mark today (actually it probably was a couple days ago but work's been crazy so haven't had time to check). We lead very simple lives, drive old cars, live in an apartment and we don't brag about money to our friends or family so there was no one else to share the good news with.

I didn't start tracking net worth until I got married (before then I didn't have a tracked budget, I just never spent more than I earned in a given month).

12/31/2016 - $530,587.90
12/31/2017 - $687,993.32
12/31/2018 - $755,798.54
12/31/2019 - $945,940.98

7/24/2020 - $1,018,810.54

We do not own a house, all our assets are either 401k, IRA, HSA, Brokerage, Savings and CD.

Our only debt is our credit cards which we pay off in full each month.
Congratulations! What a great milestone achievement, especially given all the turmoil and uncertainty so far in 2020. Keep up the good work!

azianbob
Posts: 313
Joined: Tue Jan 15, 2019 6:53 pm

Re: Share your net worth progression

Post by azianbob » Sat Jul 25, 2020 12:22 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.
How were you able to go from a 72k salary to 160k after one year of experience? Then jump to 250k in 4 years? Is it your industry or did you change careers?

I feel you are doing great (very few people can say they have $3m at age 37), but when you consider you have net income of $480k a year, it feels like you should have more haha.

ymmt
Posts: 25
Joined: Fri Jul 10, 2020 10:59 am

Re: Share your net worth progression

Post by ymmt » Sat Jul 25, 2020 8:13 am

azianbob wrote:
Sat Jul 25, 2020 12:22 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.
How were you able to go from a 72k salary to 160k after one year of experience? Then jump to 250k in 4 years? Is it your industry or did you change careers?

I feel you are doing great (very few people can say they have $3m at age 37), but when you consider you have net income of $480k a year, it feels like you should have more haha.
I'm around the same age/progress at the poster above, but have multiples higher expenses because of children and a home in a VHCOL area. I can't even imagine getting by on only $5k a month, my mortgage alone is beyond that.

Looks like the poster went to graduate school, so the salary progression can balloon quite aggressively. To your point on why he doesn't have more, it takes a while to get to the higher income level and build net worth. The growth the past 2 years seems pretty consistent with the household income.

To tryingtogetahead: You're doing great. Some things that may be helpful:
- don't overextend to a more lavish lifestyle if you don't need to. Owning a more expensive house comes with a LOT of other expenses, some I anticipated and others I did not.
- Kid's a stupid expensive, especially in HCOL areas. My daycare costs are more than most peoples' mortgage payments. It sounds like your and your wife are very career oriented people, but also know this: having kids late is not easy either; if you really want them, you should probably be ahead of the curve and try early.

tryingtogetahead
Posts: 31
Joined: Tue Apr 07, 2020 11:45 am

Re: Share your net worth progression

Post by tryingtogetahead » Sat Jul 25, 2020 8:23 am

ymmt wrote:
Sat Jul 25, 2020 8:13 am
azianbob wrote:
Sat Jul 25, 2020 12:22 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.
How were you able to go from a 72k salary to 160k after one year of experience? Then jump to 250k in 4 years? Is it your industry or did you change careers?

I feel you are doing great (very few people can say they have $3m at age 37), but when you consider you have net income of $480k a year, it feels like you should have more haha.
I'm around the same age/progress at the poster above, but have multiples higher expenses because of children and a home in a VHCOL area. I can't even imagine getting by on only $5k a month, my mortgage alone is beyond that.

Looks like the poster went to graduate school, so the salary progression can balloon quite aggressively. To your point on why he doesn't have more, it takes a while to get to the higher income level and build net worth. The growth the past 2 years seems pretty consistent with the household income.

To tryingtogetahead: You're doing great. Some things that may be helpful:
- don't overextend to a more lavish lifestyle if you don't need to. Owning a more expensive house comes with a LOT of other expenses, some I anticipated and others I did not.
- Kid's a stupid expensive, especially in HCOL areas. My daycare costs are more than most peoples' mortgage payments. It sounds like your and your wife are very career oriented people, but also know this: having kids late is not easy either; if you really want them, you should probably be ahead of the curve and try early.
Ymmt — You hit the nail on the head. The reason why my first year income out of school was lower was b/c I participated in a special one-year program that was prestigious in my field but paid lower. After that, my income just steadily rose as part of a planned / set comp program. My household income then rose again when marrying. You say you’re at the same age and progress but have higher expenses? How were you able to get to $3mm at my age with much higher expenses? Was it higher income? I do enjoy life and travel, etc but I have had to be pretty disciplined even with a solid income and have consistently paid down debt and invested to get where I am now. Just curious to get your feedback.

thinker
Posts: 4
Joined: Sat Jul 25, 2020 7:26 am

Re: Share your net worth progression

Post by thinker » Sat Jul 25, 2020 10:08 am

Age: late 40s
I consider myself incredibly fortunate in many ways, not the least of which is a financial head-start at the beginning of my adult life thanks to gifts from family members. Later I also received an inheritance comprising of both real estate that has appreciated in value/provided rental income and cash that I applied toward our investments.

I have used Quicken fervently since the mid-90s, tracking in detail all financial activities other than actual cash transactions (which are very few - using a rewards credit card and downloading transactions is a win-win). I also use Excel religiously to track, model, forecast, and manage all aspects of our financial life.

Other than a couple exceptions, I have always maxed-out my 401(k). I had been contributing to 529 plans for the kids since birth, but stopped a couple years ago when I determined that their projected value at the time of need would be close to the in-state tuition cost, so as to not over-fund. If their education costs exceed the account balances, I will be able to fund the 529s at that time with whatever amount is needed and still obtain the tax benefit (per current rules, at least).

While I consider all of our assets as part of our overall net worth, I use our 'investment net worth' as part of our retirement planning. To be conservative in that planning, I am not counting on anything else (SS, rental income, property equity, etc) to fund our retirement. Recently our investments have performed spectacularly; a trend that I hope continues!

Code: Select all

       Net Worth	Investments	HH Income	Notes
Dec-95	 $36,300 	 $9,600 	 $20,000 	
Dec-96	 $37,200 	 $12,700 	 $35,000 	
Dec-97	 $41,900 	 $16,100 	 $38,000 	
Dec-98	 $71,000 	 $52,900 	 $44,000 	
Dec-99	 $119,000 	 $98,000 	 $52,000 	
Dec-00	 $113,000 	 $86,500 	 $68,000 	
Dec-01	 $148,000 	 $130,000 	 $78,000 	
Dec-02	 $129,000 	 $123,000 	 $76,000 	
Dec-03	 $245,000 	 $151,000 	 $146,000 	bought house + married
Dec-04	 $419,000 	 $206,000 	 $151,000 	
Dec-05	 $619,000 	 $258,000 	 $159,000 	
Dec-06	 $707,000 	 $337,000 	 $169,000 	kid #1
Dec-07	 $832,000 	 $456,000 	 $181,000 	
Dec-08	 $683,000 	 $360,000 	 $203,000 	kid #2
Dec-09	 $891,000 	 $562,000 	 $203,000 	
Dec-10	 $1,104,000 	 $776,000 	 $213,000 	
Dec-11	 $1,338,000 	 $960,000 	 $219,000 	
Dec-12	 $1,562,000 	 $1,117,000 	 $227,000 	
Dec-13	 $2,650,000 	 $1,434,000 	 $254,000 	inheritance
Dec-14	 $2,859,000 	 $1,646,000 	 $235,000 	
Dec-15	 $3,046,000 	 $1,818,000 	 $254,000 	
Dec-16	 $3,409,000 	 $2,141,000 	 $285,000 	
Dec-17	 $4,035,000 	 $2,674,000 	 $307,000 	
Dec-18	 $4,352,000 	 $2,884,000 	 $318,000 	
Dec-19	 $5,319,000 	 $3,834,000 	 $320,000 	
current	 $7,228,000 	 $5,745,000 	 $327,000 (est)

PowderDay9
Posts: 73
Joined: Fri Oct 12, 2018 12:29 pm

Re: Share your net worth progression

Post by PowderDay9 » Sat Jul 25, 2020 2:48 pm

thinker wrote:
Sat Jul 25, 2020 10:08 am
Age: late 40s
I consider myself incredibly fortunate in many ways, not the least of which is a financial head-start at the beginning of my adult life thanks to gifts from family members. Later I also received an inheritance comprising of both real estate that has appreciated in value/provided rental income and cash that I applied toward our investments.

I have used Quicken fervently since the mid-90s, tracking in detail all financial activities other than actual cash transactions (which are very few - using a rewards credit card and downloading transactions is a win-win). I also use Excel religiously to track, model, forecast, and manage all aspects of our financial life.

Other than a couple exceptions, I have always maxed-out my 401(k). I had been contributing to 529 plans for the kids since birth, but stopped a couple years ago when I determined that their projected value at the time of need would be close to the in-state tuition cost, so as to not over-fund. If their education costs exceed the account balances, I will be able to fund the 529s at that time with whatever amount is needed and still obtain the tax benefit (per current rules, at least).

While I consider all of our assets as part of our overall net worth, I use our 'investment net worth' as part of our retirement planning. To be conservative in that planning, I am not counting on anything else (SS, rental income, property equity, etc) to fund our retirement. Recently our investments have performed spectacularly; a trend that I hope continues!

Code: Select all

       Net Worth	Investments	HH Income	Notes
Dec-95	 $36,300 	 $9,600 	 $20,000 	
Dec-96	 $37,200 	 $12,700 	 $35,000 	
Dec-97	 $41,900 	 $16,100 	 $38,000 	
Dec-98	 $71,000 	 $52,900 	 $44,000 	
Dec-99	 $119,000 	 $98,000 	 $52,000 	
Dec-00	 $113,000 	 $86,500 	 $68,000 	
Dec-01	 $148,000 	 $130,000 	 $78,000 	
Dec-02	 $129,000 	 $123,000 	 $76,000 	
Dec-03	 $245,000 	 $151,000 	 $146,000 	bought house + married
Dec-04	 $419,000 	 $206,000 	 $151,000 	
Dec-05	 $619,000 	 $258,000 	 $159,000 	
Dec-06	 $707,000 	 $337,000 	 $169,000 	kid #1
Dec-07	 $832,000 	 $456,000 	 $181,000 	
Dec-08	 $683,000 	 $360,000 	 $203,000 	kid #2
Dec-09	 $891,000 	 $562,000 	 $203,000 	
Dec-10	 $1,104,000 	 $776,000 	 $213,000 	
Dec-11	 $1,338,000 	 $960,000 	 $219,000 	
Dec-12	 $1,562,000 	 $1,117,000 	 $227,000 	
Dec-13	 $2,650,000 	 $1,434,000 	 $254,000 	inheritance
Dec-14	 $2,859,000 	 $1,646,000 	 $235,000 	
Dec-15	 $3,046,000 	 $1,818,000 	 $254,000 	
Dec-16	 $3,409,000 	 $2,141,000 	 $285,000 	
Dec-17	 $4,035,000 	 $2,674,000 	 $307,000 	
Dec-18	 $4,352,000 	 $2,884,000 	 $318,000 	
Dec-19	 $5,319,000 	 $3,834,000 	 $320,000 	
current	 $7,228,000 	 $5,745,000 	 $327,000 (est)
Pretty incredible progression! Curious how your investments are up 50% this year?

jarjarM
Posts: 174
Joined: Mon Jul 16, 2018 1:21 pm

Re: Share your net worth progression

Post by jarjarM » Sat Jul 25, 2020 3:09 pm

thinker wrote:
Sat Jul 25, 2020 10:08 am
Age: late 40s
I consider myself incredibly fortunate in many ways, not the least of which is a financial head-start at the beginning of my adult life thanks to gifts from family members. Later I also received an inheritance comprising of both real estate that has appreciated in value/provided rental income and cash that I applied toward our investments.

I have used Quicken fervently since the mid-90s, tracking in detail all financial activities other than actual cash transactions (which are very few - using a rewards credit card and downloading transactions is a win-win). I also use Excel religiously to track, model, forecast, and manage all aspects of our financial life.

Other than a couple exceptions, I have always maxed-out my 401(k). I had been contributing to 529 plans for the kids since birth, but stopped a couple years ago when I determined that their projected value at the time of need would be close to the in-state tuition cost, so as to not over-fund. If their education costs exceed the account balances, I will be able to fund the 529s at that time with whatever amount is needed and still obtain the tax benefit (per current rules, at least).

While I consider all of our assets as part of our overall net worth, I use our 'investment net worth' as part of our retirement planning. To be conservative in that planning, I am not counting on anything else (SS, rental income, property equity, etc) to fund our retirement. Recently our investments have performed spectacularly; a trend that I hope continues!

Code: Select all

       Net Worth	Investments	HH Income	Notes
Dec-95	 $36,300 	 $9,600 	 $20,000 	
Dec-96	 $37,200 	 $12,700 	 $35,000 	
Dec-97	 $41,900 	 $16,100 	 $38,000 	
Dec-98	 $71,000 	 $52,900 	 $44,000 	
Dec-99	 $119,000 	 $98,000 	 $52,000 	
Dec-00	 $113,000 	 $86,500 	 $68,000 	
Dec-01	 $148,000 	 $130,000 	 $78,000 	
Dec-02	 $129,000 	 $123,000 	 $76,000 	
Dec-03	 $245,000 	 $151,000 	 $146,000 	bought house + married
Dec-04	 $419,000 	 $206,000 	 $151,000 	
Dec-05	 $619,000 	 $258,000 	 $159,000 	
Dec-06	 $707,000 	 $337,000 	 $169,000 	kid #1
Dec-07	 $832,000 	 $456,000 	 $181,000 	
Dec-08	 $683,000 	 $360,000 	 $203,000 	kid #2
Dec-09	 $891,000 	 $562,000 	 $203,000 	
Dec-10	 $1,104,000 	 $776,000 	 $213,000 	
Dec-11	 $1,338,000 	 $960,000 	 $219,000 	
Dec-12	 $1,562,000 	 $1,117,000 	 $227,000 	
Dec-13	 $2,650,000 	 $1,434,000 	 $254,000 	inheritance
Dec-14	 $2,859,000 	 $1,646,000 	 $235,000 	
Dec-15	 $3,046,000 	 $1,818,000 	 $254,000 	
Dec-16	 $3,409,000 	 $2,141,000 	 $285,000 	
Dec-17	 $4,035,000 	 $2,674,000 	 $307,000 	
Dec-18	 $4,352,000 	 $2,884,000 	 $318,000 	
Dec-19	 $5,319,000 	 $3,834,000 	 $320,000 	
current	 $7,228,000 	 $5,745,000 	 $327,000 (est)
Congrats!!! So when is retirement :beer

User avatar
geerhardusvos
Posts: 837
Joined: Wed Oct 23, 2019 10:20 pm
Location: heavenlies

Re: Share your net worth progression

Post by geerhardusvos » Sat Jul 25, 2020 3:30 pm

geerhardusvos wrote:
Fri Dec 20, 2019 6:09 pm
2010: -180,000
2011: -110,000
2014: 20,000
2015: 110,000
2019: 700,000

Wife quit working at age 27 in 2016 because we started having children. Income has averaged 120k annually between the two of us. Now we are 30 years old and hoping to retire with $2.5M today’s dollars by 2030. Kinda hoping for a crash next year! :sharebeer
Mid year update here:

2020 portfolio is 95/5 and $830k (13X living expenses) as of Friday close of market. Hoping to hit the two commas by the end of 2021! 8-)

Annual income now $200K. Spending on track to be around $60K this year in HCOLA.

Guess there was a crash of sorts this year after all lol. Saw some serious gains with the cash and bonds I deployed into stocks during March and April. Only wish I had invested more, but will keep it going! :beer
VTSAX and chill

thinker
Posts: 4
Joined: Sat Jul 25, 2020 7:26 am

Re: Share your net worth progression

Post by thinker » Sat Jul 25, 2020 4:25 pm

PowderDay9 wrote:
Sat Jul 25, 2020 2:48 pm
Pretty incredible progression! Curious how your investments are up 50% this year?
A couple years ago I felt we had established a sufficient foundation to be able to take on more risk in our portfolio, so over time I shifted a portion of our portfolio to investing in individual stocks/companies with potential for high growth, reviewing the allocation monthly. It's been more volatile but also resulted in significantly larger gains overall than the other portion of assets, especially this year.
jarjarM wrote:
Sat Jul 25, 2020 3:09 pm
Congrats!!! So when is retirement :beer
Thanks! We look forward to walking away from our current jobs, but they aren't truly horrible either. We want to be >100% certain that we'd be able to maintain our current lifestyle and also cover various future expenses (kids' education, multiple house improvements, autos, additional travel, etc) before making any changes. I've set our target 'number' to be one that is based on estimated annual expenses (using actuals over the past several years and looking forward as mentioned above) and a long-term SWR that I'm comfortable with, plus an extra cushion to hopefully make it more bullet-proof.

Pomegranate
Posts: 334
Joined: Mon Oct 01, 2018 4:42 pm

Re: Share your networth progression

Post by Pomegranate » Sat Jul 25, 2020 4:30 pm

Chris001122 wrote:
Mon Jul 06, 2020 7:17 am
TradingPlaces wrote:
Mon Dec 01, 2014 11:38 pm
What is the point of this thread? And I am not being sarcastic.
The book, The Millionaire Next Door, took a survey of millionaires. They asked the millionaires if they tracked their net worth

a. Yearly
b. Quarterly
c. Monthly
d. Not at all

If I recall the trend, almost all answered a, b, or c. The people who answered "a" had the least of the average net worths. Those who answered "b" had the second highest average net worth. And, yes, you guessed it, the folks that answered "c" or "monthly" had the very highest average net worth.
Where's the boundary then :mrgreen: ? Every day? Second? Planck time :sharebeer ?

MathIsMyWayr
Posts: 1965
Joined: Mon Mar 27, 2017 10:47 pm
Location: CA

Re: Share your net worth progression

Post by MathIsMyWayr » Sat Jul 25, 2020 4:41 pm

thinker wrote:
Sat Jul 25, 2020 4:25 pm
PowderDay9 wrote:
Sat Jul 25, 2020 2:48 pm
Pretty incredible progression! Curious how your investments are up 50% this year?
A couple years ago I felt we had established a sufficient foundation to be able to take on more risk in our portfolio, so over time I shifted a portion of our portfolio to investing in individual stocks/companies with potential for high growth, reviewing the allocation monthly. It's been more volatile but also resulted in significantly larger gains overall than the other portion of assets, especially this year.
jarjarM wrote:
Sat Jul 25, 2020 3:09 pm
Congrats!!! So when is retirement :beer
Thanks! We look forward to walking away from our current jobs, but they aren't truly horrible either. We want to be >100% certain that we'd be able to maintain our current lifestyle and also cover various future expenses (kids' education, multiple house improvements, autos, additional travel, etc) before making any changes. I've set our target 'number' to be one that is based on estimated annual expenses (using actuals over the past several years and looking forward as mentioned above) and a long-term SWR that I'm comfortable with, plus an extra cushion to hopefully make it more bullet-proof.
You are on a roll. Shoot for an eight figure investable NW with a fallback plan of a high seven figures.

Way to go!

User avatar
gravlax
Posts: 252
Joined: Thu Aug 21, 2008 2:29 pm
Location: Cole Valley, CA

Re: Share your networth progression

Post by gravlax » Sun Jul 26, 2020 12:22 am

gravlax wrote:
Tue May 13, 2014 12:44 pm
I became a sort of a Boglehead for the first time in 2006 with a net worth of just about zero. Started saving, and then got taken by a fast talking Ameriprise investment advisor, and put all of my saving in high expense funds that were recommended. Rediscovered Bogleheadism (for real this time), and was able to amass a net worth of $67K by February of 2008. I continued on the path, and my net worth grew as follows:

Feb, 2008: $67K
Feb, 2009: $87K
Feb, 2010: $179K
Feb, 2011: $263K
Feb, 2012: $310K
Feb, 2013: $384K
Feb, 2014: $500K

Current: $518K

..continuing onwards:

Feb 2015: $600K
Feb 2016: $653k
Feb 2017: $722K
Feb 2018: $851K
Feb 2019: $905K
Feb 2020: $954K

Current: $1M

ymmt
Posts: 25
Joined: Fri Jul 10, 2020 10:59 am

Re: Share your net worth progression

Post by ymmt » Sun Jul 26, 2020 6:49 am

tryingtogetahead wrote:
Sat Jul 25, 2020 8:23 am
ymmt wrote:
Sat Jul 25, 2020 8:13 am
azianbob wrote:
Sat Jul 25, 2020 12:22 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.
How were you able to go from a 72k salary to 160k after one year of experience? Then jump to 250k in 4 years? Is it your industry or did you change careers?

I feel you are doing great (very few people can say they have $3m at age 37), but when you consider you have net income of $480k a year, it feels like you should have more haha.
I'm around the same age/progress at the poster above, but have multiples higher expenses because of children and a home in a VHCOL area. I can't even imagine getting by on only $5k a month, my mortgage alone is beyond that.

Looks like the poster went to graduate school, so the salary progression can balloon quite aggressively. To your point on why he doesn't have more, it takes a while to get to the higher income level and build net worth. The growth the past 2 years seems pretty consistent with the household income.

To tryingtogetahead: You're doing great. Some things that may be helpful:
- don't overextend to a more lavish lifestyle if you don't need to. Owning a more expensive house comes with a LOT of other expenses, some I anticipated and others I did not.
- Kid's a stupid expensive, especially in HCOL areas. My daycare costs are more than most peoples' mortgage payments. It sounds like your and your wife are very career oriented people, but also know this: having kids late is not easy either; if you really want them, you should probably be ahead of the curve and try early.
Ymmt — You hit the nail on the head. The reason why my first year income out of school was lower was b/c I participated in a special one-year program that was prestigious in my field but paid lower. After that, my income just steadily rose as part of a planned / set comp program. My household income then rose again when marrying. You say you’re at the same age and progress but have higher expenses? How were you able to get to $3mm at my age with much higher expenses? Was it higher income? I do enjoy life and travel, etc but I have had to be pretty disciplined even with a solid income and have consistently paid down debt and invested to get where I am now. Just curious to get your feedback.
We make slightly more, but now that I calculate it, it probably accounts for a good chunk of our differences in monthly expenses. My very rough estimate puts us at $3m. Breakdown is 5% cash, 30% real estate (incl primary res), and rest in equities.

In terms how we are the same despite my elevated expenses:
- I started working the same time you did, but with a fraction of the student debt. And my workplace 401k match is very generous.
- Opted against going to graduate school (around 2010), which at the time would have been $200k for two years, and just focused on getting better at my job. I always wanted to go to a prestigious graduate program, but looking back I know now that this would have destroyed our finances.
- a very heavy tilt towards stocks and an aggressive position within that portfolio (probably gain around 10-15% per year). During the heart of the COVID madness, the portfolio dropped $1m from peak to trough. It has since recovered and surpassed the pre-COVID peak just last week. My risk tolerance is fairly high, but it's not for everyone; you need to be willing to see your net worth rise or drop 1-3% on any given day. My view is that I have a ton of time to recover anything the market can throw at us.

Here's another tip which may be helpful: If you do decide that you want to enjoy life/travel, it's a lot easier without kids. My wife and I were avid travelers before our children. We were also able to do it with our friends who were (at the time) without kids too. Now, everyone just kinda does their own thing, and most trips are to Disney or a beach resort; it's a different lifestyle. Some people say you can bring your toddlers up mountains or to remote destinations, but reality is a lot different. Another thing I've found is that it's more difficult to take long (2 weeks or more) vacations as your move up the corporate ladder, and some of the most fun places we've traveled to needed that amount of time.

One other thing to consider is to just aim for an early retirement. With your expenses, you might be able to clock out in your early 40s, and let your investments do the work for you. We have that goal in mind too (we want to get back to traveling :) ), but will probably need to wait until our late 40s with kids closer to college.

Best of luck in whatever you guys decide. Happy to discuss your thoughts on above as well.

mdd
Posts: 1
Joined: Sat Jul 25, 2020 4:54 pm

Re: Share your net worth progression

Post by mdd » Sun Jul 26, 2020 9:41 am

First post here but I have been a saver/investor since high school.

Not good NW tracking till approx 2010 rough estimate based on memory. Prior to 2017 NW from mint but sometimes it drops accounts or double counts. Looking at these numbers I think the NW values 2015 and prior might be under estimated :confused . Since 2017, NW from personal capitol and validated by hand at least quarterly. No kids 48/49 y.o., still in the house we bought in 2001.

1998 +$70k (married 26/27 y.o.)
1999 -$40k
2001 -$115
2005 +$0
2010 +$419
2011 +$480k
2012 +$680k
2013 +$818k
2014 +$930k
2015 +$1.06M
2017 +$2.39M
2018 +$2.42M
2019 +$3.2M
2020 +$3.39M (July)

Investment portfolio $2.854M; hard to believe in rough numbers at 7% average return projected NW will be over $5M at ages 58/59; looking seriously at a 55/56 FI target :beer . Always saved at least 20% of gross income and now at 56% as income has gone up :moneybag .

e5116
Posts: 554
Joined: Mon Oct 05, 2009 11:22 am

Re: Share your net worth progression

Post by e5116 » Sun Jul 26, 2020 9:58 pm

Below is mine, mostly based on consistent savings and standard investment returns. Salary has gone up as well, particularly in last two years. These are all near year end amounts.

2007 - $21k - graduated college this year - age 22
2008 - $36k - age 23
2009 - $61k - age 24
2010 - $156k - age 25 - got married, net worth is COMBINED net worth this year and going forward; also had a good year of saving myself, I actually brought in a bit more net worth to marriage but fortunate to marry somebody who also is a good saver/has progressed in career

2011 - $188k - age 26
2012 - $237k - age 27
2013 - $330k - age 28
2014 - $423k - age 29
2015 - $538k - age 30 - bought house - hasn't performed well from a financial perspective since then, but best lifestyle decision I've made. House is in the worst performing market in the Case Schiller 20 Index and has basically been flat over 5 years. We're at ~2004 prices still, so I guess I'm at least glad I didn't buy way back then! Investing my downpayment in stocks would have made me much richer and we've also spent a lot to improve/maintain a very old home. Having said that, bought a house well within my means and a reasonable size, and definitely didn't overbuy. Think of it as a lifestyle decision instead of a financial one, but admittedly a bit jealous of some on here who have seen significant gains in their net worth because of home appreciation. I am not expecting major appreciation over the next 20 years either.

2016 - $642k - age 31 - First child born - obviously a major financial expense with daycare, etc.
2017 - $872k - age 32
2018 - $879k - age 33 - Child #2 born - more daycare costs
2019 - $1.16M - age 34
Now July 2020 - $1.21M - age 35 - $985k is cash/investments/retirement and $225k is home equity which is based on a conservative estimate and assumes very limited appreciation from when we purchased

No RSU's, major home appreciation, lucky stock picks, humongous tech salaries, or anything like that. Just steadily socking things away, saving, investing in index funds, living below means, and progressing in careeers...Hope to see a major uptick in the coming years similar to what others have seen. It certainly has been a more rapid ascent in the last few years. I'd ideally like to retire early, but don't have a specific goal in mind at the moment. Also, want to hit the $1M mark when excluding home equity very soon (was also at the same place in Feb) - so close!

Normchad
Posts: 860
Joined: Thu Mar 03, 2011 7:20 am

Re: Share your net worth progression

Post by Normchad » Sun Jul 26, 2020 10:09 pm

e5116 wrote:
Sun Jul 26, 2020 9:58 pm
Below is mine, mostly based on consistent savings and standard investment returns. Salary has gone up as well, particularly in last two years. These are all near year end amounts.

2007 - $21k - graduated college this year - age 22
2008 - $36k - age 23
2009 - $61k - age 24
2010 - $156k - age 25 - got married, net worth is COMBINED net worth this year and going forward; also had a good year of saving myself, I actually brought in a bit more net worth to marriage but fortunate to marry somebody who also is a good saver/has progressed in career

2011 - $188k - age 26
2012 - $237k - age 27
2013 - $330k - age 28
2014 - $423k - age 29
2015 - $538k - age 30 - bought house - hasn't performed well from a financial perspective since then, but best lifestyle decision I've made. House is in the worst performing market in the Case Schiller 20 Index and has basically been flat over 5 years. We're at ~2004 prices still, so I guess I'm at least glad I didn't buy way back then! Investing my downpayment in stocks would have made me much richer and we've also spent a lot to improve/maintain a very old home. Having said that, bought a house well within my means and a reasonable size, and definitely didn't overbuy. Think of it as a lifestyle decision instead of a financial one, but admittedly a bit jealous of some on here who have seen significant gains in their net worth because of home appreciation. I am not expecting major appreciation over the next 20 years either.

2016 - $642k - age 31 - First child born - obviously a major financial expense with daycare, etc.
2017 - $872k - age 32
2018 - $879k - age 33 - Child #2 born - more daycare costs
2019 - $1.16M - age 34
Now July 2020 - $1.21M - age 35 - $985k is cash/investments/retirement and $225k is home equity which is based on a conservative estimate and assumes very limited appreciation from when we purchased

No RSU's, major home appreciation, lucky stock picks, humongous tech salaries, or anything like that. Just steadily socking things away, saving, investing in index funds, living below means, and progressing in careeers...Hope to see a major uptick in the coming years similar to what others have seen. It certainly has been a more rapid ascent in the last few years. I'd ideally like to retire early, but don't have a specific goal in mind at the moment. Also, want to hit the $1M mark when excluding home equity very soon (was also at the same place in Feb) - so close!
Congratulations! That is awesome. It is pretty hard to hit the $1M mark at age 40; and I think when people do that, they are in incredible shape for the future. Looks like you are a full 5 years betta than that even!

Keep up the good work!

ymmt
Posts: 25
Joined: Fri Jul 10, 2020 10:59 am

Re: Share your net worth progression

Post by ymmt » Mon Jul 27, 2020 5:50 am

e5116 wrote:
Sun Jul 26, 2020 9:58 pm

2015 - $538k - age 30 - bought house - hasn't performed well from a financial perspective since then, but best lifestyle decision I've made. House is in the worst performing market in the Case Schiller 20 Index and has basically been flat over 5 years. We're at ~2004 prices still, so I guess I'm at least glad I didn't buy way back then! Investing my downpayment in stocks would have made me much richer and we've also spent a lot to improve/maintain a very old home. Having said that, bought a house well within my means and a reasonable size, and definitely didn't overbuy. Think of it as a lifestyle decision instead of a financial one, but admittedly a bit jealous of some on here who have seen significant gains in their net worth because of home appreciation. I am not expecting major appreciation over the next 20 years either.

Now July 2020 - $1.21M - age 35 - $985k is cash/investments/retirement and $225k is home equity which is based on a conservative estimate and assumes very limited appreciation from when we purchased
We had the same dilemma. Bought in 2009, and the condo is actually down 15% since that time. Sometimes you have to look at it almost as if you were renting and that the monthly payments are a sunk cost. Something you might want to consider is to refinance back into a 30year at current mortgage rates. It would maximize the amount of cash flow you have to invest further, and minimize your equity contributions towards your home. I would do that for my condo property but we ended up being a little aggressive with prepaying the loan with excess cash (and also refied earlier into a 10year mortgage) and now the balance is too low for competitive rates.

You're doing really awesome though. Best of luck

Badger97
Posts: 65
Joined: Sun Jul 26, 2020 7:32 pm

Re: Share your net worth progression

Post by Badger97 » Mon Jul 27, 2020 6:23 am

Grad in 1997. Married in 1998. Bought house in 1998. Got a dog in 1999 :) Had our first kid in 2000. Early numbers are approximate.

2000 $10K - age 27
2001 $38K - son 1 born
2002 $62K
2003 $65K
2004 $210K - first real "bonus" year, moved and bought much larger house
2005 $240K - son 2 born
2006 $826K - options vested, moved again, another decent bonus year
2007 $898K
2008 $745K - son 3 born
2009 $591K - options worthless. Should have cashed in early 2008. Lesson to others to cash when in the money. Market crash.
2010 $795K - new job, moved again.
2011 $918K
2012 $1.1M - became paper millionaires at 39/44
2013 $1.4M - new job
2014 $1.6M
2015 $1.8M
2016 $2.1M - joined the "multi" group on paper
2017 $2.6M - all market gains
2018 $2.7M - the lost year in the market
2019 $3.6M - strong bonus year, big market growth
2020 $4.5M - huge bonus year (7 figures) with market loss so far YTD

On top of that I've been fortunate to be covered by a private pension plan for all but 3 of the last 23 years. My current company has a fantastic pension plan. If I stopped working today I would get a combined $100K/year at 65. If I work 5 more years, which I expect to do, it's projected to grow to $195K/year. If I work to 55 or 60, well the numbers get kind of overly big to be honest.

We're very fortunate. Hard work and LBYM has been our mantra and my wife and I are very much on the same page financially.

Biggest drivers? Base salary has grown 11.2% CAGR since I started working in 1997 and spending has grown less than half that. Couple that with a 10-year bull run with 8 of those years being bogleheads, and you have a nice return. We are currently at a rate of doubling every 4 years and project to do just about that in the next 4 years. We're now at the stage we want to spend more freely, but then just bought my wife a CPO car again because we can't stomach buying a brand new car :)

User avatar
racy
Posts: 256
Joined: Sun Mar 30, 2008 7:38 am

Re: Share your net worth progression

Post by racy » Mon Jul 27, 2020 7:42 am

DW and I both went to work every day, contributed to our companies' success, saved & invested from each paycheck, and lived below our means.
Jan-90 133,903
Jan-00 780,212
Jan-10 1,661,450
Jan-20 4,388,156

MathIsMyWayr
Posts: 1965
Joined: Mon Mar 27, 2017 10:47 pm
Location: CA

Re: Share your net worth progression

Post by MathIsMyWayr » Mon Jul 27, 2020 7:51 am

racy wrote:
Mon Jul 27, 2020 7:42 am
DW and I both went to work every day, contributed to our companies' success, saved & invested from each paycheck, and lived below our means.
Jan-90 133,903
Jan-00 780,212
Jan-10 1,661,450
Jan-20 4,388,156
A steady Eddie.

av111
Posts: 68
Joined: Mon Jan 26, 2015 1:27 pm

Re: Share your net worth progression

Post by av111 » Mon Jul 27, 2020 8:26 am

racy wrote:
Mon Jul 27, 2020 7:42 am

Jan-10 1,661,450
Jan-20 4,388,156
Badger97 wrote:
Mon Jul 27, 2020 6:23 am

2010 $795K - new job, moved again.
2020 $4.5M - huge bonus year (7 figures) with market loss so far YTD
Progression in the net worth between 2010 and 2020 is eye catching. I wonder if there is a pattern. Posters who were around 40 years old in 2010 grew their net worth 3 x to 5 x over the next 10 years
AV111

Badger97
Posts: 65
Joined: Sun Jul 26, 2020 7:32 pm

Re: Share your net worth progression

Post by Badger97 » Mon Jul 27, 2020 8:32 am

av111 wrote:
Mon Jul 27, 2020 8:26 am
racy wrote:
Mon Jul 27, 2020 7:42 am

Jan-10 1,661,450
Jan-20 4,388,156
Badger97 wrote:
Mon Jul 27, 2020 6:23 am

2010 $795K - new job, moved again.
2020 $4.5M - huge bonus year (7 figures) with market loss so far YTD
Progression in the net worth between 2010 and 2020 is eye catching. I wonder if there is a pattern. Posters who were around 40 years old in 2010 grew their net worth 3 x to 5 x over the next 10 years
No doubt the 40's have been a wealth accumulation phase for us backed by an amazing bull run in the markets. Base pay jumped about 3X over that timeframe and bonuses have gone from averages in the low 5 figures to the low six figures with wild swings. I also think the experience of 2008-2010 shaped our spending patterns greatly. We got very conservative following that experience and only lately really started to open up, only to end up where we are in 2020 in a pandemic.

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