So, I just peaked at my Personal Capital account summary, and noticed an extra comma on my net worth total Just crossed over into the two comma club. Turned 40 years old in May. This was a goal of mine to hit two commas by age 40. Don't mean to be bragadocious, just wanted to let out my excitement somewhere since I really am not the type of person to tell my friends these kinds of things. I love that I hit this milestone on a Friday, perfect start to the weekend! Cheers all!
Congrats! The DW and I are targeting the net worth two comma club by 40 as well (we also use PC). It's nice to read about other people's successes and helps keep me motivated.
Cheers!
Too many people spend money they earned..to buy things they don’t want..to impress people they don’t like. –Will Rogers
(It's nice to celebrate anonymously over the internet.)
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
AmericaFirst wrote:Congratulations! Are you including an inflated Zestimate for your house?
I take our ZEstimate with a grain of salt. I would list our home for quite a bit more than the current ZEstimate. Would our net be around or slightly below? Perhaps.
I would imagine the market and last sales vary based on the zip code.
Congrats on the milestone!!
Last edited by bloom2708 on Fri Jun 02, 2017 4:10 pm, edited 2 times in total.
"We are here to provoke thoughtfulness, not agree with you." Unknown Boglehead
Us too! Just turned 40 and just hit 2 commas including our real estate equity. I think I'll be more excited when our investable assets hit 2 commas and we're at $791K right now. Great job to both of us!
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AmericaFirst wrote:Congratulations! Are you including an inflated Zestimate for your house?
Ha, anytime I look at my net worth on Mint I have to remind myself that both my properties are wildly over-estimated. It's still fun to look at though.
travelnut11 wrote:Us too! Just turned 40 and just hit 2 commas including our real estate equity. I think I'll be more excited when our investable assets hit 2 commas and we're at $791K right now. Great job to both of us!
Us three! We average out to 40, and hit 2 commas early this year including RE equity. Just shy of $1.1M right now according to Mint. Cash + Investment accounts is at $797k. Funny how closely our situations line up.
moneywise3 wrote:What is Personal Capital?
It's an investment aggregator/visualization service. I think of it as Mint for brokerage accounts. The basic tracking/analysis features are free, and they occasionally try to upsell you to their AUM-based advisory service. I looked once, saw it was 89 bp, and never looked again. But the free features are great.
I dont view our home as an investment...so I never include it in NW. With that being said we just hit $700k...33 and 34 years old. Hoping to reach 1MM net worth by 40...not including home...which is $300k
As somebody that hit the two comma club at 39, and am 43 now, allow me to share that the second million should come a lot faster and easier than the first.
Congrats, things start to get exciting at this point.
investingdad wrote:As somebody that hit the two comma club at 39, and am 43 now, allow me to share that the second million should come a lot faster and easier than the first.
Congrats, things start to get exciting at this point.
This assumes a good market that the second million will come faster. For me, the second million would be tremendously tougher without the headwinds of a bull market.
ponyboy wrote:I dont view our home as an investment...so I never include it in NW. With that being said we just hit $700k...33 and 34 years old. Hoping to reach 1MM net worth by 40...not including home...which is $300k
investingdad wrote:As somebody that hit the two comma club at 39, and am 43 now, allow me to share that the second million should come a lot faster and easier than the first.
Congrats, things start to get exciting at this point.
This assumes a good market that the second million will come faster. For me, the second million would be tremendously tougher without the headwinds of a bull market.
Certainly market performance is a major factor. But as long as returns are not negative, having the first million in the bank will only help because you're not relying on income alone nor starting at zero.
JeepDaze wrote:So, I just peaked at my Personal Capital account summary, and noticed an extra comma on my net worth total Just crossed over into the two comma club. Turned 40 years old in May. This was a goal of mine to hit two commas by age 40. Don't mean to be bragadocious, just wanted to let out my excitement somewhere since I really am not the type of person to tell my friends these kinds of things. I love that I hit this milestone on a Friday, perfect start to the weekend! Cheers all!
ponyboy wrote:I dont view our home as an investment...so I never include it in NW. With that being said we just hit $700k...33 and 34 years old. Hoping to reach 1MM net worth by 40...not including home...which is $300k
It's like saying I don't count my 500k mortgage in networth because it's not an investment! It's assets-liabilities.
Most people care about the number that will allow them to become FI.
If you plan on staying in your house, it doesn't make a difference when calculating your FI number.
If you don't plan on staying in your house, it does make a difference, but mostly if you are going to downsize or move to a lower COL area.
That's why many here don't include the equity in their home when calculating the number that will get them to FI.
Whether you include it in your net worth or not, you should consider all of this.
I was over 50 when I got a second comma for net worth (I use what might be considered excessively conservative estimates for real estate value though). At barely 53 I've yet to get my second comma for financial assets alone, hopeful of getting there by 55 though as I'm less than 2 years worth of savings/investing contributions away.
I was over 50 when I got a second comma for net worth (I use what might be considered excessively conservative estimates for real estate value though). At barely 53 I've yet to get my second comma for financial assets alone, hopeful of getting there by 55 though as I'm less than 2 years worth of savings/investing contributions away.
The majority of people never see a second comma in networth or investable assets, so you've accomplished a lot! Hanging around here sometimes makes me feel like I am behind the curve even though my networth is about 2 mil in early 40s.
Congratulations. Well Done. Net Worth is Net Worth. Of course you include the estimated value of your house minus mortgage(I always subtract 6% for realtor cost as well). I think net worth is the most important number I track. Because I know that this "nest egg" will generate monies in my future.
"Earn All You Can; Give All You Can; Save All You Can." .... John Wesley
I was over 50 when I got a second comma for net worth (I use what might be considered excessively conservative estimates for real estate value though). At barely 53 I've yet to get my second comma for financial assets alone, hopeful of getting there by 55 though as I'm less than 2 years worth of savings/investing contributions away.
The majority of people never see a second comma in networth or investable assets, so you've accomplished a lot! Hanging around here sometimes makes me feel like I am behind the curve even though my networth is about 2 mil in early 40s.
Haha, yeah, I know what you mean. Back when they used to do the Boglehead surveys, or at least back when I paid attention, I was solidly lowest decile for my age cohort. When I'd get bummed about that I'd go look up the "wealth tables" in the Statistical Abstract of the US on the Census Bureau's website to regain a little fiscal self-esteem. I appear relatively better off for my demographic cohort compared to the US as a whole than I do among the Bogleheads.
bengal22 wrote:Congratulations. Well Done. Net Worth is Net Worth. Of course you include the estimated value of your house minus mortgage(I always subtract 6% for realtor cost as well). I think net worth is the most important number I track. Because I know that this "nest egg" will generate monies in my future.
If your paying 6% realtor fees, than you haven't found the best options out there.
I was over 50 when I got a second comma for net worth (I use what might be considered excessively conservative estimates for real estate value though). At barely 53 I've yet to get my second comma for financial assets alone, hopeful of getting there by 55 though as I'm less than 2 years worth of savings/investing contributions away.
The majority of people never see a second comma in networth or investable assets, so you've accomplished a lot! Hanging around here sometimes makes me feel like I am behind the curve even though my networth is about 2 mil in early 40s.
Haha, yeah, I know what you mean. Back when they used to do the Boglehead surveys, or at least back when I paid attention, I was solidly lowest decile for my age cohort. When I'd get bummed about that I'd go look up the "wealth tables" in the Statistical Abstract of the US on the Census Bureau's website to regain a little fiscal self-esteem. I appear relatively better off for my demographic cohort compared to the US as a whole than I do among the Bogleheads.
I do the same. I look at networth and income percentiles and that quickly puts things in perspective (top >5% and 2% respectively). I think the boglehead crowd is financially savvy and high networth and is not a representative sample (not even close).
bengal22 wrote:Congratulations. Well Done. Net Worth is Net Worth. Of course you include the estimated value of your house minus mortgage(I always subtract 6% for realtor cost as well). I think net worth is the most important number I track. Because I know that this "nest egg" will generate monies in my future.
If your paying 6% realtor fees, than you haven't found the best options out there.
use whatever number you choose appropriate. Not the point of post.
"Earn All You Can; Give All You Can; Save All You Can." .... John Wesley
scubadiver wrote:
Comparing the members of this forum to the U.S. population as a whole is about as close as you can get to a real life Lake Wobegon. If you're anywhere near the two comma club, you are doing better than your cohort average, regardless of age. I remember reading this a few years back (sorry, cannot recall the source), but my wife who stopped working at 28 to stay home with our kids has more than your typical 60 year old in her retirement accounts. All it took was a few years of maxing out her 401K contributions.
Anyway, the real fun will be maintaining this optimism through the first inevitable 20% market drop.
I've been through a number of those. In time I survived just fine, but I did not endure them with anything resembling optimism.
Congratulations! Nothing to sneeze at. Be proud and celebrate this in your own way. Keep up the discipline and habits that got you here and you will go places (networth-wise).
AmericaFirst wrote:Congratulations! Are you including an inflated Zestimate for your house?
I take our ZEstimate with a grain of salt. I would list our home for quite a bit more than the current ZEstimate. Would our net be around or slightly below? Perhaps.
I would imagine the market and last sales vary based on the zip code.
Congrats on the milestone!!
The last house I sold went for nearly 20% over the Zestimate. I paid about 15% over the Zestimate when I bought the house I own now, in a different state. Is there any evidence that Zestimates are generally inflated?
I don't have a lot of faith in the Zestimates. I just went under contract on my house for $190k but the zestimate was $150. FWIW the Redfin online estimate was $193.
investingdad wrote:As somebody that hit the two comma club at 39, and am 43 now, allow me to share that the second million should come a lot faster and easier than the first.
Helps if you are at the middle or beginning of a bull market.
Just crossed over into the two comma club. Turned 40 years old in May. This was a goal of mine to hit two commas by age 40. Don't mean to be bragadocious, just wanted to let out my excitement somewhere since I really am not the type of person to tell my friends these kinds of things. I love that I hit this milestone on a Friday, perfect start to the weekend! Cheers all! 
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