Net Worth: How Am I Doing?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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Topic Author
bigtex
Posts: 398
Joined: Fri Jan 26, 2018 9:34 am

Net Worth: How Am I Doing?

Post by bigtex »

My current financial picture is this:

Age: 27, married
Gross Annual Income Total: 98k

Assets:

Home - $250k market value
Retirement Assets: $71k - combination of 401k, 2 Roths, 1 Traditional - all invested in index funds
Vehicles: $10k market value
Precious Metals / Savings Bonds: 10k market value est.
Emergency Fund in cash: 11k
No taxable holdings

Debts:

Home: $142k
No other debt of any kind
bgf
Posts: 2085
Joined: Fri Nov 10, 2017 8:35 am

Re: Net Worth: How Am I Doing?

Post by bgf »

emergency fund might be a little low.
“TE OCCIDERE POSSUNT SED TE EDERE NON POSSUNT NEFAS EST"
MrNewEngland
Posts: 807
Joined: Sun Sep 28, 2014 11:38 am

Re: Net Worth: How Am I Doing?

Post by MrNewEngland »

I'm impressed that you have $100k+ in equity in your home at age 27. Did you buy in a hot market?

Overall I'd say you're doing an impressive job building wealth. Better off than I was at your age.
jlcnuke
Posts: 434
Joined: Thu Mar 16, 2017 10:26 am

Re: Net Worth: How Am I Doing?

Post by jlcnuke »

https://www.investors.com/etfs-and-fund ... nd-income/

Sounds like you're on track. Just under 1x salary in savings/investments at 27 should easily become >1.5x salary by age 35 I'd say.
foamypirate
Posts: 142
Joined: Sun Jul 09, 2017 9:36 pm

Re: Net Worth: How Am I Doing?

Post by foamypirate »

Are you my twin? I'm 28, and my numbers are, literally, almost identical (within ~1-2k in either direction). :sharebeer
Topic Author
bigtex
Posts: 398
Joined: Fri Jan 26, 2018 9:34 am

Re: Net Worth: How Am I Doing?

Post by bigtex »

MrNewEngland wrote: Wed Feb 14, 2018 3:33 pm I'm impressed that you have $100k+ in equity in your home at age 27. Did you buy in a hot market?

Overall I'd say you're doing an impressive job building wealth. Better off than I was at your age.


No hot market, just extra principal payments.
angelescrest
Posts: 1730
Joined: Tue May 27, 2008 10:48 am
Location: West Coast

Re: Net Worth: How Am I Doing?

Post by angelescrest »

foamypirate wrote: Wed Feb 14, 2018 4:08 pm Are you my twin? I'm 28, and my numbers are, literally, almost identical (within ~1-2k in either direction). :sharebeer
No, that would be your doppelgänger.
Topic Author
bigtex
Posts: 398
Joined: Fri Jan 26, 2018 9:34 am

Re: Net Worth: How Am I Doing?

Post by bigtex »

angelescrest wrote: Wed Feb 14, 2018 7:59 pm
foamypirate wrote: Wed Feb 14, 2018 4:08 pm Are you my twin? I'm 28, and my numbers are, literally, almost identical (within ~1-2k in either direction). :sharebeer
No, that would be your doppelgänger.
I had to look up what a doppelgänger was.
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