Nice Milestone Reached Last Week

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
janelane
Posts: 46
Joined: Wed Dec 12, 2012 12:02 am
Location: Texas

Nice Milestone Reached Last Week

Post by janelane »

Since I don't have anyone in real life to share this with, I thought I post here.

Officially reached $100,000 net worth last week at age 28! 90% of that is liquid, 10% is car value. I also officially became debt free in May.

It's been a long slog: graduated in 2008 just in time for the Great Recession. I hade $6,000 in student debt, a retail job that paid $7.50/hr, and a BFA (no regrets there, though!). After that, I worked two more low paying jobs and had two bouts of unemployment before taking a huge risk at a start up in another city. No medical emergencies, but I did have to replace my paid-off car when it was stolen four years ago. Today, I have a rewarding job that allows me to use my degree (design) with great benefits and much better pay ($62K). Couldn't have done it without my parents always cheerleading for me (with encouraging words, no EOC :)), and, of course, the great advice from this forum.

Thanks everyone!
RadAudit
Posts: 3971
Joined: Mon May 26, 2008 10:20 am
Location: Second star on the right and straight on 'til morning

Re: Nice Milestone Reached Last Week

Post by RadAudit »

Congrats.

Keep plugging.
FI is the best revenge. LBYM. Invest the rest. Stay the course. - PS: The cavalry isn't coming, kids. You are on your own.
livesoft
Posts: 74474
Joined: Thu Mar 01, 2007 8:00 pm

Re: Nice Milestone Reached Last Week

Post by livesoft »

Congrats.

I'm pretty sure our net worth was negative when I was 28. It must be easier for millennials contrary to what is written up in the media. :twisted: :)
Wiki This signature message sponsored by sscritic: Learn to fish.
drawpoker
Posts: 2809
Joined: Mon May 19, 2014 6:33 pm
Location: Delmarva

Re: Nice Milestone Reached Last Week

Post by drawpoker »

Terrific for you, keep up the good work.

Congrats, Celebrate :sharebeer
Call_Me_Op
Posts: 8078
Joined: Mon Sep 07, 2009 2:57 pm
Location: Milky Way

Re: Nice Milestone Reached Last Week

Post by Call_Me_Op »

Jane,

Outstanding! That same discipline will get you to a million and beyond. Best of luck! :wink:
Best regards, -Op | | "In the middle of difficulty lies opportunity." Einstein
Rodc
Posts: 13601
Joined: Tue Jun 26, 2007 9:46 am

Re: Nice Milestone Reached Last Week

Post by Rodc »

Nice!

You are well ahead of my 28 year old, though she did call today about how to set up a retirement account.
We live a world with knowledge of the future markets has less than one significant figure. And people will still and always demand answers to three significant digits.
Fallible
Posts: 7627
Joined: Fri Nov 27, 2009 4:44 pm
Contact:

Re: Nice Milestone Reached Last Week

Post by Fallible »

Congratulations on overcoming significant obstacles and reaching a milestone well before many, if not most, at that age!
:beer
"Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." ~Jack Bogle
User avatar
1210sda
Posts: 1787
Joined: Wed Feb 28, 2007 8:31 am

Re: Nice Milestone Reached Last Week

Post by 1210sda »

Jane you are a shining example. I know of many millenials who are nowhere close to your accomplishments. But then again, you are a boglehead...:)
Thanks for sharing this with us. It gives me hope for the future.
1210
User avatar
dratkinson
Posts: 5190
Joined: Thu Jul 26, 2007 6:23 pm
Location: Centennial CO

Re: Nice Milestone Reached Last Week

Post by dratkinson »

Congratulations. Happy for you. Keep up the good work.
d.r.a., not dr.a. | I'm a novice investor, you are forewarned.
Grt2bOutdoors
Posts: 23208
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: Nice Milestone Reached Last Week

Post by Grt2bOutdoors »

Great job! Persistence is key to overcoming hurdles. Thanks for sharing.
May the winds of fortune continue to blow upon your sails. :sharebeer
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
User avatar
JPH
Posts: 1072
Joined: Mon Jun 27, 2011 8:56 pm

Re: Nice Milestone Reached Last Week

Post by JPH »

Good for you! That's your hardest $100,000. With that money working for you the next one will come more easily. Keep going.
While the moments do summersaults into eternity | Cling to their coattails and beg them to stay - Townes Van Zandt
209south
Posts: 516
Joined: Mon Jan 28, 2013 10:58 pm

Re: Nice Milestone Reached Last Week

Post by 209south »

Agree that's the hardest $100,000 - my tip, 'save aggressively and live below your means'
Topic Author
janelane
Posts: 46
Joined: Wed Dec 12, 2012 12:02 am
Location: Texas

Re: Nice Milestone Reached Last Week

Post by janelane »

Thanks everyone! It feels good to take a step back and acknowledge progress. Journey's just starting; here's to the next $100,000 :beer
Freddy
Posts: 244
Joined: Sat May 30, 2015 10:41 pm

Re: Nice Milestone Reached Last Week

Post by Freddy »

Congrats! Hard work and sticktoitivness paid off.
User avatar
Zabar
Posts: 635
Joined: Thu Feb 27, 2014 9:05 pm
Location: San Francisco Bay Area

Re: Nice Milestone Reached Last Week

Post by Zabar »

Wonderful! :sharebeer

The first $100K is by far the most difficult. Keep it up.
User avatar
HalfMillionaire
Posts: 156
Joined: Sat Feb 28, 2015 7:08 pm

Re: Nice Milestone Reached Last Week

Post by HalfMillionaire »

Congratulations! As many have said, the first 100K is the hardest. Keep LBYM, keep filling up those tax advantaged spaces - and you will soon be hitting other milestones. Well done!!
USStks:IntlStks:Bonds::1:1:1, Tilts US Mid/SmallCap and EM.
User avatar
David Jay
Posts: 9982
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: Nice Milestone Reached Last Week

Post by David Jay »

Jane, you are soooo not average!

congrats
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius
supton
Posts: 68
Joined: Wed Oct 02, 2013 7:37 am
Location: NH

Re: Nice Milestone Reached Last Week

Post by supton »

Nice. Congrads.

I graduated just in time for the dot com bubble burst, and I'm pretty sure at 28 I was still negative for net value.
User avatar
stemikger
Posts: 4950
Joined: Thu Apr 08, 2010 5:02 am

Re: Nice Milestone Reached Last Week

Post by stemikger »

I got news for you. . .

You are officially AWESOME!!!! :sharebeer :beer
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!
User avatar
laughlinlvr
Posts: 170
Joined: Wed Nov 18, 2009 3:34 pm
Location: ID, NV

Re: Nice Milestone Reached Last Week

Post by laughlinlvr »

My congratulations too. BUT I want to pass on that you have now reached a metric beyond which your investment experience will more and more outweigh your savings prowess. Savings are very important, and you will need to keep them up. However, you will in all likelihood experience a time in which negative returns (correction or worse) effectively wipe out accumulated savings contributions over the same period.
See lots of other posts from your fellow Bogleheads about staying the course during such times.
Investing - The hardest way to make an easy living.
Broken Man 1999
Posts: 5595
Joined: Wed Apr 08, 2015 11:31 am
Location: West coast of Florida, inland on high ground!

Re: Nice Milestone Reached Last Week

Post by Broken Man 1999 »

Congratulations on your very significant milestone!

While I believe my wife and I have been successful in our journey to retirement, I am in awe of some of these young people who are so much further down the road than we were at their ages. Wow!

And wife and I didn't have student loans to repay, as MegaCorp paid almost 100% for our undergraduate degrees, and about 75% of my graduate degree. We look like slackers compared to some of these young posters!

Again, congrats for your accomplishments thus far; and I wish you the best on your continuing journey.

Please take heed of the advice about staying the course, as you will undoubtedly encounter some rough economic conditions along the way.

:thumbsup :thumbsup

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go. " -Mark Twain
jbird11
Posts: 95
Joined: Tue Jun 02, 2015 1:24 pm

Re: Nice Milestone Reached Last Week

Post by jbird11 »

Congrats to you!

If you have $90K now, and contribute $1500/mo and earn 7%, you will be a millionaire in 2033. 18 years!
JohnFiscal
Posts: 852
Joined: Mon Jan 06, 2014 4:28 pm
Location: Florida

Re: Nice Milestone Reached Last Week

Post by JohnFiscal »

Congratulations!

Some people would not consider cars, houses, etc, in net worth. Personally, I consider my house but not cars or personal assets. Calling "Buck" to clean out the house and sell everything doesn't return much on those collectibles. (Buck is the guy who cleans out the condos in Old Folks, Florida when the old folks die off and the kids don't want to haul the stuff back home.) Some would include their expensive fine art collection in their net worth (probably not a bad idea), others would include their collection of hand painted Franklin Mint state spoons in their net worth (not so great an idea). The point is to be realistic about things. Some don't include their primary residence as "you got to live somewhere", sure that's true but you could always downsize and move on.
knowsnothing
Posts: 142
Joined: Sat Feb 14, 2015 10:12 am

Re: Nice Milestone Reached Last Week

Post by knowsnothing »

Well done Jane, great username. :sharebeer
User avatar
goingup
Posts: 3969
Joined: Tue Jan 26, 2010 1:02 pm

Re: Nice Milestone Reached Last Week

Post by goingup »

Congratulations on your successes! I love to hear these stories.

My 28 yr old niece just got her grad degree but has not yet found "her track to run on" as we say. She hasn't told me how much student debt she has but I fear it's staggering.

Keep on doing what you do! :beer
User avatar
JupiterJones
Posts: 2943
Joined: Tue Aug 24, 2010 3:25 pm
Location: Nashville, TN

Re: Nice Milestone Reached Last Week

Post by JupiterJones »

Congrats! And welcome to the "1 and 1/3" comma club! :sharebeer
Stay on target...
RJ614
Posts: 9
Joined: Mon Mar 09, 2015 2:14 pm

Re: Nice Milestone Reached Last Week

Post by RJ614 »

Congrats!
User avatar
SkierMom
Posts: 237
Joined: Thu Nov 29, 2012 8:53 pm
Location: Northern CAli

Re: Nice Milestone Reached Last Week

Post by SkierMom »

Yay, Jane!

Wish I was on the track at 28 that you are on now.

Good job, woman.
User avatar
Toons
Posts: 13896
Joined: Fri Nov 21, 2008 10:20 am
Location: Hills of Tennessee

Re: Nice Milestone Reached Last Week

Post by Toons »

Let the compounding machine continue to work for you ,,,,24 hours a day ,seven days a week,,,keep feeding it monthly investment money :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
User avatar
Traveller
Posts: 754
Joined: Sat Jun 25, 2011 10:47 am

Re: Nice Milestone Reached Last Week

Post by Traveller »

Outstanding! You certainly have your act together better than I did at 28. Great job and keep it up! :beer
stonerolled
Posts: 51
Joined: Sun Sep 30, 2012 8:16 am

Re: Nice Milestone Reached Last Week

Post by stonerolled »

Congrats...

I don't really have anyone to tell my milestones to either.
My first 100k too a long time. The second not nearly as long.
Not much good can come from even those close to you about such matters.
I am glad for forums like this.
User avatar
Boomer01
Posts: 142
Joined: Wed Jul 23, 2014 4:25 pm
Location: Oklahoma

Re: Nice Milestone Reached Last Week

Post by Boomer01 »

Congrats! I just hit the 100K milestone this week, but at 32.
acejacksingh
Posts: 326
Joined: Thu Dec 04, 2014 11:15 am

Re: Nice Milestone Reached Last Week

Post by acejacksingh »

Congrats! Posts like these really brighten my day and push me to get to the first $100,000.

Quick question: Does the first $100,000 included things like HSA accounts? Emergency Funds? Next vacation/car fund? Or is it simply $100,000 set aside for retirement?

Thanks!
AceJ
User avatar
FelixTheCat
Posts: 1943
Joined: Sat Sep 24, 2011 12:39 am

Re: Nice Milestone Reached Last Week

Post by FelixTheCat »

Congratulations!
Felix is a wonderful, wonderful cat.
TSR
Posts: 953
Joined: Thu Apr 19, 2012 9:08 am

Re: Nice Milestone Reached Last Week

Post by TSR »

Congrats. My net worth was definitely negative at that age, though I caught up quickly. Keep at it!
Topic Author
janelane
Posts: 46
Joined: Wed Dec 12, 2012 12:02 am
Location: Texas

Re: Nice Milestone Reached Last Week

Post by janelane »

Thanks everyone!

Because this was asked up thead, the other $90,000 is made up of retirement savings, emergency fund, house down payment savings, and HSA.
newboggler
Posts: 72
Joined: Thu Jul 18, 2013 7:09 am

Re: Nice Milestone Reached Last Week

Post by newboggler »

Congratulations Jane!
This forum is great place to share your success and get advices.

I too achieved my 150k in networth milestone early this year at age 29.5 most of which is invested boglehead style.

I see firsthand that most of similar age colleagues and friends are not interested in saving money for long term plans.
Sometimes it makes me doubt if I'm weird, :)
but I like it this way :)

Best thing ever happened to me financially is finding this forum.
Post like yours keeps us motivated.

Good luck.
Topic Author
janelane
Posts: 46
Joined: Wed Dec 12, 2012 12:02 am
Location: Texas

Re: Nice Milestone Reached Last Week

Post by janelane »

Congrats to you, newboggler!
Acepilot
Posts: 22
Joined: Mon Mar 09, 2015 4:53 pm

Re: Nice Milestone Reached Last Week

Post by Acepilot »

Congratulations. Keep up the good work.
dc81584
Posts: 581
Joined: Sat Apr 04, 2015 7:47 am

Re: Nice Milestone Reached Last Week

Post by dc81584 »

That's awesome. I'm 30, doing a good job, and probably worth no more than $75,000, so you're obviously doing something right.
AllenSmith
Posts: 153
Joined: Tue May 13, 2014 1:35 pm

Re: Nice Milestone Reached Last Week

Post by AllenSmith »

Great job - hardest $100k for sure
User avatar
wander
Posts: 3500
Joined: Sat Oct 04, 2008 9:10 am

Re: Nice Milestone Reached Last Week

Post by wander »

Congratulations! You are in much much better position than I was at 28.
Post Reply