Share your net worth progression

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
dziuniek
Posts: 797
Joined: Mon Jul 23, 2012 2:54 pm
Location: Corrupticut

Re: Share your net worth progression

Post by dziuniek » Mon Jul 27, 2020 9:01 am

sd323232 wrote:
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.
Well... you have to get in first.

e5116
Posts: 552
Joined: Mon Oct 05, 2009 11:22 am

Re: Share your net worth progression

Post by e5116 » Mon Jul 27, 2020 9:21 am

dziuniek wrote:
Mon Jul 27, 2020 9:01 am
sd323232 wrote:
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.
Well... you have to get in first.
I believe most countries have a maximum number of years you can go to college for free. I know in Denmark, they cut you off at six years.

Jgrace
Posts: 3
Joined: Wed Jan 22, 2020 11:42 pm

Re: Share your net worth progression

Post by Jgrace » Mon Jul 27, 2020 10:38 am

Figured I would contribute my own journey to this thread:

Ages: 38 / 38
Total gross income: $225k (this has increased significantly over the last 5 years)
MCOL
2 kids under 5, daycare $30k/yr
Own house with $175k mortgage on $350k+ value (part of NW calculation)

I didn't start keeping a detailed track of my finances until 2015. Before that I was simply living below my means with no clear plan to retirement, though I did take someone's advice to open and fully fund a Vanguard Roth IRA out of college in 2005. Since then I have gotten married and started a family, and both income and expenses have increased significantly. Thanks in part to the Boglehead philosophy I think we are on a comfortable trajectory, though I'm sure some here would say I could be accumulating more quickly. Most importantly, I think I'm comfortable with the balance we have struck between spending and saving for the future.

August 2013: -$37k (Owned underwater condo, stuck in terrible loan)
August 2014: $8k
August 2015: $245k (Sold condo at a huge loss and bought house (huge balance sheet shift); income and NW now include girlfriend.)
August 2016: $340k (Got married)
August 2017: $481k (First child born)
August 2018: $502k (Major house remodel - $90k)
August 2019: $603k
August 2020: $730k (Second child born

Thank you to everyone that has unknowingly contributed to my personal finance education, and the resulting impact on my family's future. What has been most surprising to me is how my thinking has gradually shifted from away from the numbers to asking questions about what I want most out of life and how to allocate the resources to match.

User avatar
happyisland
Posts: 546
Joined: Thu Oct 03, 2013 1:36 pm

Re: Share your net worth progression

Post by happyisland » Mon Jul 27, 2020 6:00 pm

I'm expressing mine in terms of annual living expenses, since that is how we have defined our retirement goal.

Date Age Years of Expenses Saved
2007 32 3
2008 33 4
2009 34 4
2010 35 3
2011 36 4
2012 37 3
2013 38 4 Joined bogleheads, quit "wealth managers", developed a plan.
2014 39 5
2015 40 7
2016 41 7
2017 42 9 Paid off mortgage.
2018 43 12
2019 44 13
2020 45 19

gazelle1991
Posts: 128
Joined: Thu Aug 03, 2017 11:20 am

Re: Share your net worth progression

Post by gazelle1991 » Fri Jul 31, 2020 9:05 pm

Here's another data point I'd like to share as I just hit a new milestone this month.

Ages: 29/30, married no kid
Total gross income: $200k (this has increased significantly over the last 3 years)
MCOL
Own house with $200k mortgage on $400k+ value (part of NW calculation)

Progression in the last decade:
2010 - Age 19: $10K
2011 - Age 20: $20K
2012 - Age 21: $35K
2013 - Age 22: $60K
2014 - Age 23: $175K
2015 - Age 24: $260K
2016 - Age 25: $375K
2017 - Age 26: $500K
2018 - Age 27: $650K
2019 - Age 28: $835K
2020 - Age 29: $1M
Last edited by gazelle1991 on Wed Aug 05, 2020 11:23 pm, edited 2 times in total.

bigfry
Posts: 25
Joined: Sat Mar 21, 2020 2:24 pm

Re: Share your net worth progression

Post by bigfry » Sat Aug 01, 2020 12:53 am

Ages 27/25, married. No kids as of yet (hopefully soon.)
Gross income last year was 140k in a HCOL (So. Cal)

Our net worth is broken down as this:
28k in retirement accounts
16k in cash
65k in taxable investments

So our net worth as of right now is a total of around ~110k.

I'm very happy with a progress given our age. Currently saving money for a down payment on a home within the new few years.
Keep it simple, stupid

Andysgr
Posts: 6
Joined: Sun Jan 28, 2018 6:40 pm

Re: Share your net worth progression

Post by Andysgr » Sat Aug 01, 2020 4:57 am

Ages 47/45

2008 328k
2009 349k
2010 503k
2011 630k
2012 742k
2013 901k
2014 1.073M
2015 1.2n11M
2016 2.568M (1.2M Inheritance)
2017 2.92M
2018 3.29M
2019 3.896M
2020 (August) 4.041M

Andysgr
Posts: 6
Joined: Sun Jan 28, 2018 6:40 pm

Re: Share your net worth progression

Post by Andysgr » Sat Aug 01, 2020 4:58 am

double post

sean.mcgrath
Posts: 456
Joined: Thu Dec 29, 2016 6:15 am
Location: US in NL

Re: Share your net worth progression

Post by sean.mcgrath » Sat Aug 01, 2020 6:10 am

e5116 wrote:
Mon Jul 27, 2020 9:21 am
dziuniek wrote:
Mon Jul 27, 2020 9:01 am
sd323232 wrote:
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


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.
Well... you have to get in first.
I believe most countries have a maximum number of years you can go to college for free. I know in Denmark, they cut you off at six years.
Exactly. It used to be much more generous back in the 70s/80s, but by now I think all countries have limits (Austria and Netherlands certainly do). When I worked in Austria in the 90s, there were quasi "eternal students" who worked part time in our company and never got around to finishing their theses. Eventually, they found partners, wanted to move on, etc. and graduated. They discovered that they had missed out on ten years of earnings growth and career progression. The friends they started with at University could afford much more expensive lifestyles and had more interesting jobs -- some of the ex-eternals I knew were pretty bitter. So yes, it used to be possible, but most people were wise enough to finish and move on with their lives.

nolimits
Posts: 15
Joined: Sun Dec 22, 2019 10:45 pm

Re: Share your net worth progression

Post by nolimits » Sat Aug 01, 2020 2:33 pm

Age 35/33

2008 (-40k)
2009 (-70k)
2010 (-100k)
2011 (-110k)
2012 (-115k)
2013 (-110k)
2014 (-85k)
2015 (-320k)
2016 (-335k)
2017 (-360k)
2018 (-195k)
2019 260k
Current 450k (Hoping 550/600k end of yr)

Good to be in the green. Looking forward to next decade.

CorduroyGivenToFly
Posts: 27
Joined: Tue Dec 31, 2019 5:32 pm

Re: Share your net worth progression

Post by CorduroyGivenToFly » Wed Aug 05, 2020 9:59 pm

2008: -$30,000 (student loans from business school and some money in a Roth IRA that I rolled my 401k into)
2020 (now) $1.27 Million
Age: 39

I don’t have all the info for years in between, but I’m single and made about $155k/year at my job from 2009-present and no side-hustles.

Slow and steady, maxing accounts out, etc. 2008-2019 was all living in a very high cost of living area. $340k of net worth resulted from a condo sale in the high cost area - bought in 2011 sold in 2018. Made a couple hundred thousand since March too from increasing allocation in gold and silver ETFs and tilting stocks a bit towards MGK (large mega cap). Net worth was positive but under $60k from 2000-2006.

User avatar
Hub
Posts: 428
Joined: Fri Jul 13, 2012 8:56 am

Re: Share your net worth progression

Post by Hub » Thu Aug 06, 2020 12:23 am

It’s funny how similar so many of us are.

2009: $-19k
2020 : $1M
Age:40

Hopefully double in next 5 years by age 45. No windfalls of any kind, real estate equity only $150k, and very little contributed to taxable. Just been budgeting and living below our means for a decade. Now the income is there to move more quickly.

Hastur
Posts: 2
Joined: Thu Aug 06, 2020 1:14 am

Re: Share your net worth progression

Post by Hastur » Thu Aug 06, 2020 1:17 am

35 y.o., single. No debts, no house. Work as a union janitor.

2017 - Age 32: less than 10k
2018 - Age 33: $10k - moved to us from a 3rd world country with 4k in the pocket. Started working in august. Set up my emergency fund.
2019 - Age 34: $36K good year overall
2020 - Age 35: $60k as of july. Turned 35.

Target range 800k-1.2kk. Wanna retire sometime in my 40s.

UnitaryExecutive
Posts: 102
Joined: Wed Jun 29, 2016 10:54 pm

Re: Share your net worth progression

Post by UnitaryExecutive » Thu Aug 06, 2020 1:25 am

This is our Mint trend over the last 7 years when my wife and I started tracking after getting married. It's not completely accurate because it doesn't account for certain things correctly, but it's ballpark close.

Image

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

Re: Share your net worth progression

Post by Badger97 » Thu Aug 06, 2020 6:56 am

Hub wrote:
Thu Aug 06, 2020 12:23 am
It’s funny how similar so many of us are.

2009: $-19k
2020 : $1M
Age:40

Hopefully double in next 5 years by age 45. No windfalls of any kind, real estate equity only $150k, and very little contributed to taxable. Just been budgeting and living below our means for a decade. Now the income is there to move more quickly.
$0 to $1 took us about 15 years. $1 to $2 took us 4 years. $2 to $3 took us 3 years. $3 to $4 took us 1 year. We could see $4 to $5 in less than a year. If you manage your spending (although, live a little!), and your income increases, the compounding effect can be huge.

girvincn
Posts: 23
Joined: Tue Dec 03, 2019 8:31 am

Re: Share your net worth progression

Post by girvincn » Thu Aug 06, 2020 7:37 am

Hastur wrote:
Thu Aug 06, 2020 1:17 am
35 y.o., single. No debts, no house. Work as a union janitor.

2017 - Age 32: less than 10k
2018 - Age 33: $10k - moved to us from a 3rd world country with 4k in the pocket. Started working in august. Set up my emergency fund.
2019 - Age 34: $36K good year overall
2020 - Age 35: $60k as of july. Turned 35.

Target range 800k-1.2kk. Wanna retire sometime in my 40s.
This post makes me incredibly happy. Sometimes I look through this site and see mostly high-earners. Good for those individuals for having the foresight to save and manage their money wisely; I still appreciate seeing their leaps and bounds in net worth, but it doesn't feel as attainable for someone limited in future earnings (teacher). Thanks for posting, Hastur. I'm glad you're here, taking the reins on your future. You're an inspiration to me.

Mako52
Posts: 138
Joined: Mon Jul 30, 2018 11:07 am

Re: Share your net worth progression

Post by Mako52 » Thu Aug 06, 2020 8:56 am

Andysgr wrote:
Sat Aug 01, 2020 4:57 am
Ages 47/45

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

2019 3.896M
2020 (August) 4.041M
@andysgr - S&P was down around 8% in 2018 IIRC......mind if I ask how you were up ~10%/300k that year? (whatever you did worked well!)

Mofire
Posts: 10
Joined: Thu Aug 06, 2020 9:28 am

Re: Share your net worth progression

Post by Mofire » Thu Aug 06, 2020 9:38 am

Long time lurker, first time poster. :)

Hit a new high watermark right at the end of July:

Aug 2015: $1.0
Apr 2018: $2.0
Jul 2019: $2.8
Dec 2019: $3.6
Jul 2020: $5.0 (age 43)

Net worth goals:
- $10
- $30
- $100 (primary)
- $500 (secondary)
- $1000 (tertiary)

Keep on, keeping on!

-Jay

novemberrain
Posts: 381
Joined: Wed May 09, 2018 12:26 pm

Re: Share your net worth progression

Post by novemberrain » Fri Aug 07, 2020 12:14 am

Badger97 wrote:
Thu Aug 06, 2020 6:56 am
Hub wrote:
Thu Aug 06, 2020 12:23 am
It’s funny how similar so many of us are.

2009: $-19k
2020 : $1M
Age:40

Hopefully double in next 5 years by age 45. No windfalls of any kind, real estate equity only $150k, and very little contributed to taxable. Just been budgeting and living below our means for a decade. Now the income is there to move more quickly.
$0 to $1 took us about 15 years. $1 to $2 took us 4 years. $2 to $3 took us 3 years. $3 to $4 took us 1 year. We could see $4 to $5 in less than a year. If you manage your spending (although, live a little!), and your income increases, the compounding effect can be huge.
Couldn't agree more. And on very similar trajectory.
0-1 took 16 years
1-2 took 3 years
Hoping the rest of the trajectory looks like yours. And yes, we too had huge increase in income last few years. Plus I have wised up about market timing. So next decade should be fruitful barring any health emergencies.

I recently modeled a 20 year growth using
https://www.investor.gov/financial-tool ... calculator
Some numbers are eye popping (tens of millions !). But even the lowest numbers are far higher than what I previously thought possible. As you said, the "the compounding effect can be huge.".
I agree wholeheartedly .
That is : "long time horizon + large income" can result in astounding end numbers
Last edited by novemberrain on Fri Aug 07, 2020 2:42 pm, edited 4 times in total.

novemberrain
Posts: 381
Joined: Wed May 09, 2018 12:26 pm

Re: Share your net worth progression

Post by novemberrain » Fri Aug 07, 2020 12:16 am

Mofire wrote:
Thu Aug 06, 2020 9:38 am
Net worth goals:
- $10
- $30
- $100 (primary)
- $500 (secondary)
- $1000 (tertiary)
I assume these are in millions ?

Mofire
Posts: 10
Joined: Thu Aug 06, 2020 9:28 am

Re: Share your net worth progression

Post by Mofire » Fri Aug 07, 2020 12:54 am

novemberrain wrote:
Fri Aug 07, 2020 12:16 am
Mofire wrote:
Thu Aug 06, 2020 9:38 am
Net worth goals:
- $10
- $30
- $100 (primary)
- $500 (secondary)
- $1000 (tertiary)
I assume these are in millions ?
yes

novemberrain
Posts: 381
Joined: Wed May 09, 2018 12:26 pm

Re: Share your net worth progression

Post by novemberrain » Fri Aug 07, 2020 1:48 am

Mofire wrote:
Fri Aug 07, 2020 12:54 am
novemberrain wrote:
Fri Aug 07, 2020 12:16 am
Mofire wrote:
Thu Aug 06, 2020 9:38 am
Net worth goals:
- $10
- $30
- $100 (primary)
- $500 (secondary)
- $1000 (tertiary)
I assume these are in millions ?
yes
Awesome. Never a bad idea to have big goals.
Are you aiming to reach the biggest 3 numbers in your list by investment gains & DCA over long period (like say by the time you are 90 years old) ?
Or are you hoping to reach them through alternative income like say entrepreneurship ?

Hastur
Posts: 2
Joined: Thu Aug 06, 2020 1:14 am

Re: Share your net worth progression

Post by Hastur » Fri Aug 07, 2020 3:49 am

girvincn wrote:
Thu Aug 06, 2020 7:37 am
Hastur wrote:
Thu Aug 06, 2020 1:17 am
35 y.o., single. No debts, no house. Work as a union janitor.

2017 - Age 32: less than 10k
2018 - Age 33: $10k - moved to us from a 3rd world country with 4k in the pocket. Started working in august. Set up my emergency fund.
2019 - Age 34: $36K good year overall
2020 - Age 35: $60k as of july. Turned 35.

Target range 800k-1.2kk. Wanna retire sometime in my 40s.
This post makes me incredibly happy. Sometimes I look through this site and see mostly high-earners. Good for those individuals for having the foresight to save and manage their money wisely; I still appreciate seeing their leaps and bounds in net worth, but it doesn't feel as attainable for someone limited in future earnings (teacher). Thanks for posting, Hastur. I'm glad you're here, taking the reins on your future. You're an inspiration to me.
Oh, thanks. This forum creates an illusion that you are surrounded by millionaires and high earners, which is far from reality, at least mine.

girvincn
Posts: 23
Joined: Tue Dec 03, 2019 8:31 am

Re: Share your net worth progression

Post by girvincn » Fri Aug 07, 2020 6:39 am

Hastur wrote:
Fri Aug 07, 2020 3:49 am

Oh, thanks. This forum creates an illusion that you are surrounded by millionaires and high earners, which is far from reality, at least mine.
Exactly, same for me. Objectively, I know I'm doing better than most households out there, but within the context of this website, I know I'm pretty low on the totem pole. Either way, it's great to see others in the same range as me. By the way, I just finished reading The Millionaire Next Door and found it incredibly fascinating and informative. I would say I was already on the right path to accumulating wealth, and reading that book won't necessarily change any of my habits, but it really reinforced most of my beliefs. Looks like you're on the right path, too, but it might be worth a read! I knocked it out in two sittings; it was a real page-turner!

Mofire
Posts: 10
Joined: Thu Aug 06, 2020 9:28 am

Re: Share your net worth progression

Post by Mofire » Fri Aug 07, 2020 8:48 am

novemberrain wrote:
Fri Aug 07, 2020 1:48 am
Awesome. Never a bad idea to have big goals.
Are you aiming to reach the biggest 3 numbers in your list by investment gains & DCA over long period (like say by the time you are 90 years old) ?
Or are you hoping to reach them through alternative income like say entrepreneurship ?
Thanks. It’ll be mostly through alt income and private equity. Based on current longer term projections, assuming I don’t sell the business, the first target might take 10-12 years.

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