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
Autiger144
Posts: 1
Joined: Sat Sep 03, 2016 10:42 pm

Re: Share your net worth progression

Post by Autiger144 »

Male, Married, 1 kid, 35 y/o

No debt other than mortgage

2015 $53,000
2016 $114,000
2017 $170,000
2018 $225,000
2019 $329,000
YTD '20 $419,000

Hope to hit $1M net worth by 39 y/o

2020 Savings Rate - 58%
TravelforFun
Posts: 2174
Joined: Tue Dec 04, 2012 11:05 pm

Re: Share your net worth progression

Post by TravelforFun »

Keenobserver wrote: Tue Sep 08, 2020 7:06 am
TravelforFun wrote: Mon Sep 07, 2020 11:23 am
Ciel wrote: Sat Sep 05, 2020 11:33 pm In case any readers of this thread need a healthy dose of reality/perspective, check out the NY Times net worth ranker: https://www.nytimes.com/interactive/201 ... ealth.html

Many of the responses in this thread are those in the 99th percentile for their age range (or thereabouts).
Be careful when using the chart. Net worth is total assets minus total liabilities and can consist of many things including savings, investments, home equities, business asset, etc. If your net worth is mostly in 401ks or IRAs, make sure you subtract out 20-30% because that's Uncle Sam's money.

TravelforFun
Its uncle Sam's money only if you are up and are cashing out whilst still earning salary.
It's Uncle Sam's money if you are in any tax bracket greater than 0%.

TravelforFun
SovereignInvestor
Posts: 593
Joined: Mon Aug 20, 2018 4:41 pm

Re: Share your net worth progression

Post by SovereignInvestor »

Keenobserver wrote: Tue Sep 08, 2020 7:06 am
TravelforFun wrote: Mon Sep 07, 2020 11:23 am
Ciel wrote: Sat Sep 05, 2020 11:33 pm In case any readers of this thread need a healthy dose of reality/perspective, check out the NY Times net worth ranker: https://www.nytimes.com/interactive/201 ... ealth.html

Many of the responses in this thread are those in the 99th percentile for their age range (or thereabouts).
Be careful when using the chart. Net worth is total assets minus total liabilities and can consist of many things including savings, investments, home equities, business asset, etc. If your net worth is mostly in 401ks or IRAs, make sure you subtract out 20-30% because that's Uncle Sam's money.

TravelforFun
Its uncle Sam's money only if you are up and are cashing out whilst still earning salary.
Not exactly. There are many on here that have 1M+ in tax deferred accounts. Assuming 1M, Unless it is nearly all in fixed income and never grows much it is essentially impossible to get it all out of the account in ones life with having to take maybe 40K to 50K or a lot more per year which is very likely to trigger income tax of some form.

If one assumes low 3% annual returns on 1M in 401K at age 62 they likely need to withdraw at least 50K a year to actually draw it down to actually enjoy the net worth. That would trigger some tax. If one has net worth but can never actually use it because of tax then the tax liability is real. Minumum required distributions also support ideanof tax haircut.

People should haircut their pretax accounts for some assumed tax liability. 20-30% may be too high but for most it won't be 0% either especially if one never plans on living in an income tax free state and has smaller balance and low outside taxable income.
Keenobserver
Posts: 401
Joined: Thu Aug 13, 2015 1:05 pm

Re: Share your net worth progression

Post by Keenobserver »

TravelforFun wrote: Tue Sep 08, 2020 4:19 pm
Keenobserver wrote: Tue Sep 08, 2020 7:06 am
TravelforFun wrote: Mon Sep 07, 2020 11:23 am
Ciel wrote: Sat Sep 05, 2020 11:33 pm In case any readers of this thread need a healthy dose of reality/perspective, check out the NY Times net worth ranker: https://www.nytimes.com/interactive/201 ... ealth.html

Many of the responses in this thread are those in the 99th percentile for their age range (or thereabouts).
Be careful when using the chart. Net worth is total assets minus total liabilities and can consist of many things including savings, investments, home equities, business asset, etc. If your net worth is mostly in 401ks or IRAs, make sure you subtract out 20-30% because that's Uncle Sam's money.

TravelforFun
Its uncle Sam's money only if you are up and are cashing out whilst still earning salary.
It's Uncle Sam's money if you are in any tax bracket greater than 0%.

TravelforFun
deleted
Keenobserver
Posts: 401
Joined: Thu Aug 13, 2015 1:05 pm

Re: Share your net worth progression

Post by Keenobserver »

SovereignInvestor wrote: Wed Sep 09, 2020 6:39 am
Keenobserver wrote: Tue Sep 08, 2020 7:06 am
TravelforFun wrote: Mon Sep 07, 2020 11:23 am
Ciel wrote: Sat Sep 05, 2020 11:33 pm In case any readers of this thread need a healthy dose of reality/perspective, check out the NY Times net worth ranker: https://www.nytimes.com/interactive/201 ... ealth.html

Many of the responses in this thread are those in the 99th percentile for their age range (or thereabouts).
Be careful when using the chart. Net worth is total assets minus total liabilities and can consist of many things including savings, investments, home equities, business asset, etc. If your net worth is mostly in 401ks or IRAs, make sure you subtract out 20-30% because that's Uncle Sam's money.

TravelforFun
Its uncle Sam's money only if you are up and are cashing out whilst still earning salary.
Not exactly. There are many on here that have 1M+ in tax deferred accounts. Assuming 1M, Unless it is nearly all in fixed income and never grows much it is essentially impossible to get it all out of the account in ones life with having to take maybe 40K to 50K or a lot more per year which is very likely to trigger income tax of some form.

If one assumes low 3% annual returns on 1M in 401K at age 62 they likely need to withdraw at least 50K a year to actually draw it down to actually enjoy the net worth. That would trigger some tax. If one has net worth but can never actually use it because of tax then the tax liability is real. Minumum required distributions also support ideanof tax haircut.

People should haircut their pretax accounts for some assumed tax liability. 20-30% may be too high but for most it won't be 0% either especially if one never plans on living in an income tax free state and has smaller balance and low outside taxable income.
Agreed. Assuming 30% off the back seems too high.
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Hawaiishrimp
Posts: 476
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Re: Share your net worth progression

Post by Hawaiishrimp »

moneywise3 wrote: Sat Aug 29, 2020 1:51 pm
Hawaiishrimp wrote: Thu Aug 27, 2020 9:19 pm I did. My 1st post with >10M. See above.
If my hypothesis is right, this might be the last time you posted you NW progression here :happy
Haha, I am still here. Happy to report back.
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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Hawaiishrimp
Posts: 476
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Re: Share your net worth progression

Post by Hawaiishrimp »

JamalJones wrote: Sat Sep 05, 2020 12:49 pm
Hawaiishrimp wrote: Thu Aug 27, 2020 7:45 pm Update: As of end of Aug 2020

2020: $10.1M (As of today: $10,173,394)
That’s hot. That’s a hot way to live.
Stay the course. Invest for the long term. Live below our means. I'm doing the same thing just like before. No lifestyle change whatsoever. Still having a full time job work from home. It's just a number honestly.
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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Hawaiishrimp
Posts: 476
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Re: Share your net worth progression

Post by Hawaiishrimp »

mikejuss wrote: Sat Sep 05, 2020 1:43 pm Well done, all.

But I wonder how much of these extraordinary wealth progressions is basically owing to windfalls such as raises, inheritances, or sales (and the resultant savings), rather than to index investing (which, at best, grows one's capital at relatively modest rates). I say this as a committed Boglehead. I think there's value in remaining clear-eyed about the many factors that drive wealth creation, and it seems that a high income and one's willingness to save a substantial amount of it are the prerequisites to successful index investing.
In my case:
1. No inheritance, no lottery.
2. I have stock options from my job.
3. I did have individual stocks on top of index funds.
4. Just an average joe with a household income ~200k annually.
5. I do save & invest a decent amount. Probably 25-30% of my income.
6. Compound interest is the key.
7. Take educated risk is also important to me.

Good luck to you. Cheers.
I save and invest my money, so money can make money for me, so I don't have to make money eventually.
justsomeguy2018
Posts: 1185
Joined: Wed Oct 03, 2018 8:11 pm

Re: Share your net worth progression

Post by justsomeguy2018 »

Hawaiishrimp wrote: Sun Sep 13, 2020 8:43 pm
mikejuss wrote: Sat Sep 05, 2020 1:43 pm Well done, all.

But I wonder how much of these extraordinary wealth progressions is basically owing to windfalls such as raises, inheritances, or sales (and the resultant savings), rather than to index investing (which, at best, grows one's capital at relatively modest rates). I say this as a committed Boglehead. I think there's value in remaining clear-eyed about the many factors that drive wealth creation, and it seems that a high income and one's willingness to save a substantial amount of it are the prerequisites to successful index investing.
In my case:
1. No inheritance, no lottery.
2. I have stock options from my job.
3. I did have individual stocks on top of index funds.
4. Just an average joe with a household income ~200k annually.
5. I do save & invest a decent amount. Probably 25-30% of my income.
6. Compound interest is the key.
7. Take educated risk is also important to me.

Good luck to you. Cheers.
How helpful can compound interest be when interest rates have been less than 2% for the better half of 10+ years??
latesaver
Posts: 217
Joined: Thu Aug 03, 2017 3:35 pm

Re: Share your net worth progression

Post by latesaver »

justsomeguy2018 wrote: Sun Sep 13, 2020 8:46 pm
Hawaiishrimp wrote: Sun Sep 13, 2020 8:43 pm
mikejuss wrote: Sat Sep 05, 2020 1:43 pm Well done, all.

But I wonder how much of these extraordinary wealth progressions is basically owing to windfalls such as raises, inheritances, or sales (and the resultant savings), rather than to index investing (which, at best, grows one's capital at relatively modest rates). I say this as a committed Boglehead. I think there's value in remaining clear-eyed about the many factors that drive wealth creation, and it seems that a high income and one's willingness to save a substantial amount of it are the prerequisites to successful index investing.
In my case:
1. No inheritance, no lottery.
2. I have stock options from my job.
3. I did have individual stocks on top of index funds.
4. Just an average joe with a household income ~200k annually.
5. I do save & invest a decent amount. Probably 25-30% of my income.
6. Compound interest is the key.
7. Take educated risk is also important to me.

Good luck to you. Cheers.
How helpful can compound interest be when interest rates have been less than 2% for the better half of 10+ years??
It isn't so much interest rates, but return on any investment in general. If the stock market gains 2-3% a year, you'll notice the growth. if it grows 6-7% it isn't that hard for it to outpace your salary.
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JamalJones
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Re: Share your net worth progression

Post by JamalJones »

Hawaiishrimp wrote: Sun Sep 13, 2020 8:37 pm
JamalJones wrote: Sat Sep 05, 2020 12:49 pm
Hawaiishrimp wrote: Thu Aug 27, 2020 7:45 pm Update: As of end of Aug 2020

2020: $10.1M (As of today: $10,173,394)
That’s hot. That’s a hot way to live.
Stay the course. Invest for the long term. Live below our means. I'm doing the same thing just like before. No lifestyle change whatsoever. Still having a full time job work from home. It's just a number honestly.
Impressive nonetheless! I plan on having that much myself. Should get there by the time I turn 95. :)
TSP + Vanguard Roth IRA + Vanguard Taxable: 80% equities / 20% bonds | "I don't shine shoes, I don’t tape ankles, I don't cut checks - straight cash homie!!" --R. Moss
stoptothink
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Joined: Fri Dec 31, 2010 9:53 am

Re: Share your net worth progression

Post by stoptothink »

justsomeguy2018 wrote: Sun Sep 13, 2020 8:46 pm
Hawaiishrimp wrote: Sun Sep 13, 2020 8:43 pm
mikejuss wrote: Sat Sep 05, 2020 1:43 pm Well done, all.

But I wonder how much of these extraordinary wealth progressions is basically owing to windfalls such as raises, inheritances, or sales (and the resultant savings), rather than to index investing (which, at best, grows one's capital at relatively modest rates). I say this as a committed Boglehead. I think there's value in remaining clear-eyed about the many factors that drive wealth creation, and it seems that a high income and one's willingness to save a substantial amount of it are the prerequisites to successful index investing.
In my case:
1. No inheritance, no lottery.
2. I have stock options from my job.
3. I did have individual stocks on top of index funds.
4. Just an average joe with a household income ~200k annually.
5. I do save & invest a decent amount. Probably 25-30% of my income.
6. Compound interest is the key.
7. Take educated risk is also important to me.

Good luck to you. Cheers.
How helpful can compound interest be when interest rates have been less than 2% for the better half of 10+ years??
Net worth more than tripling in less than a year, growing about 60x more than it had any previous year, didn't occur as a result of saving 25-30% of a $200k HHI and compound interest. Very clearly, #2 should be bolded and italicized.
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Hawaiishrimp
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Re: Share your net worth progression

Post by Hawaiishrimp »

justsomeguy2018 wrote: Sun Sep 13, 2020 8:46 pm
How helpful can compound interest be when interest rates have been less than 2% for the better half of 10+ years??
Sorry, I meant to say investing (+dividend reinvestment) compound growth over the years.
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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Hawaiishrimp
Posts: 476
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Re: Share your net worth progression

Post by Hawaiishrimp »

stoptothink wrote: Mon Sep 14, 2020 12:15 pm
Net worth more than tripling in less than a year, growing about 60x more than it had any previous year, didn't occur as a result of saving 25-30% of a $200k HHI and compound interest. Very clearly, #2 should be bolded and italicized.
#2 makes a difference (about $1M). Mainly #3, significant return of some individual stocks (e.g. TSLA 10x in one year, NVDA & other tech stocks that are doing exceptionally well).
I save and invest my money, so money can make money for me, so I don't have to make money eventually.
goos_news
Posts: 20
Joined: Mon Jun 10, 2019 7:14 pm

Re: Share your net worth progression

Post by goos_news »

stoptothink wrote: Mon Sep 14, 2020 12:15 pm
justsomeguy2018 wrote: Sun Sep 13, 2020 8:46 pm
Hawaiishrimp wrote: Sun Sep 13, 2020 8:43 pm
mikejuss wrote: Sat Sep 05, 2020 1:43 pm Well done, all.

But I wonder how much of these extraordinary wealth progressions is basically owing to windfalls such as raises, inheritances, or sales (and the resultant savings), rather than to index investing (which, at best, grows one's capital at relatively modest rates). I say this as a committed Boglehead. I think there's value in remaining clear-eyed about the many factors that drive wealth creation, and it seems that a high income and one's willingness to save a substantial amount of it are the prerequisites to successful index investing.
In my case:
1. No inheritance, no lottery.
2. I have stock options from my job.
3. I did have individual stocks on top of index funds.
4. Just an average joe with a household income ~200k annually.
5. I do save & invest a decent amount. Probably 25-30% of my income.
6. Compound interest is the key.
7. Take educated risk is also important to me.

Good luck to you. Cheers.
How helpful can compound interest be when interest rates have been less than 2% for the better half of 10+ years??
Net worth more than tripling in less than a year, growing about 60x more than it had any previous year, didn't occur as a result of saving 25-30% of a $200k HHI and compound interest. Very clearly, #2 should be bolded and italicized.
I think substantial options and higher risk individual stocks are more exceptional gains, to be honest, versus more Bogle-esque index gains.

I'm a bit behind Hawaiishrimp and have benefited from NQs/RSUs and a $900K inheritance. But aside from the latter, I've been able to make substantial gains since 2014 with just index fund investing and a 80% savings rate. Once you get to $5m, adding index gains to 80% gross savings on some really good years can really accelerate the accumulation. So I would say for me it is mostly index investing and the willingness to save.

on the other thread...
Tax deferred accounts are just that, I agree. But other types of investments also have a tax burden, so the classic definition of NW doesn't normally factor all of these in. I always look look at both. It is important to know where you really stand, especially if your future draw rate is at higher levels.
stoptothink
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Re: Share your net worth progression

Post by stoptothink »

Hawaiishrimp wrote: Tue Sep 15, 2020 4:01 am
stoptothink wrote: Mon Sep 14, 2020 12:15 pm
Net worth more than tripling in less than a year, growing about 60x more than it had any previous year, didn't occur as a result of saving 25-30% of a $200k HHI and compound interest. Very clearly, #2 should be bolded and italicized.
#2 makes a difference (about $1M). Mainly #3, significant return of some individual stocks (e.g. TSLA 10x in one year, NVDA & other tech stocks that are doing exceptionally well).
Good for you. That's amazing, you won. As someone in their mid-late 30's with a ~$220k HHI and a 55%+ gross savings rate, the chances of ever reaching where you are now with just basic savings and compounding is slim to none without access to company stock. Well, I could invest in individual stocks, but my stomach for high risk investing is very low. Congrats.
tibbitts
Posts: 11525
Joined: Tue Feb 27, 2007 6:50 pm

Re: Share your net worth progression

Post by tibbitts »

Hawaiishrimp wrote: Sun Sep 13, 2020 8:43 pm 4. Just an average joe with a household income ~200k annually.
Average household income would be more like $60k/year.
tibbitts
Posts: 11525
Joined: Tue Feb 27, 2007 6:50 pm

Re: Share your net worth progression

Post by tibbitts »

Keenobserver wrote: Wed Sep 09, 2020 9:07 am Agreed. Assuming 30% off the back seems too high.
It's not that much of a stretch for a single person, particularly if you add the average state income tax at roughly, oh, 5%. It does depend if you count things like potential social security taxation and medicare/IRMAA as "taxes." And if you want to add in other taxes like real estate taxes and sales taxes, various governments can easily take more than 30% combined from someone who might not have had a high income but saved diligently (maybe overly so) in deferred accounts.
wldlndfirefghtr
Posts: 55
Joined: Tue Jul 28, 2009 12:22 pm

Re: Share your net worth progression

Post by wldlndfirefghtr »

Currently 42, married two kids. Always been an 'uber saver/investor'.

Net Worth Progression;

Started tracking in 2012, every December 31st. I was 35.

2012 $513,987
2013 $564,166
2014 $621,146
2015 $689,213
2016 $781,488
2017 $947,022
2018 $990,186
2019 $1,224,533

This year on August 6th I finally made the two comma club (savings/checking, taxable account, ROTH IRAs, TSP/401K's).

I started early, got my wife onboard and we live beneath our means. We are very fortunate.
Normchad
Posts: 1149
Joined: Thu Mar 03, 2011 7:20 am

Re: Share your net worth progression

Post by Normchad »

wldlndfirefghtr wrote: Tue Sep 15, 2020 6:02 pm Currently 42, married two kids. Always been an 'uber saver/investor'.

Net Worth Progression;

Started tracking in 2012, every December 31st. I was 35.

2012 $513,987
2013 $564,166
2014 $621,146
2015 $689,213
2016 $781,488
2017 $947,022
2018 $990,186
2019 $1,224,533

This year on August 6th I finally made the two comma club (savings/checking, taxable account, ROTH IRAs, TSP/401K's).

I started early, got my wife onboard and we live beneath our means. We are very fortunate.
Nice work! I'm super impressed whenever somebody hits $1M at 40. If you do that, you've got the hard part out of the way, and the rest of the journey should be relatively easy! Keep up the good work!
bck63
Posts: 1308
Joined: Fri Sep 28, 2018 4:59 pm

Re: Anybody near retirement with mid-six figures?

Post by bck63 »

I see a lot of big numbers on this site. Just wondering if anyone is at or near retirement with mid-six figure portfolios? Or is it all 7-8 figures or more?
bluebolt
Posts: 1233
Joined: Sat Jan 14, 2017 9:01 am

Re: Share your net worth progression

Post by bluebolt »

tibbitts wrote: Tue Sep 15, 2020 3:15 pm
Hawaiishrimp wrote: Sun Sep 13, 2020 8:43 pm 4. Just an average joe with a household income ~200k annually.
Average household income would be more like $60k/year.
Depends whether you are talking about mean or median. Mean is over $100K.
https://fred.stlouisfed.org/series/MAFAINUSA672N
Keenobserver
Posts: 401
Joined: Thu Aug 13, 2015 1:05 pm

Re: Share your net worth progression

Post by Keenobserver »

Ok. So everyone here is smarter and richer than I. Cool.
5280Tim
Posts: 48
Joined: Wed Jul 26, 2017 9:33 pm

Re: Share your net worth progression

Post by 5280Tim »

Keenobserver wrote: Tue Sep 15, 2020 6:35 pm Ok. So everyone here is smarter and richer than I. Cool.
It’s certainly easy to feel that way sometimes.
l1am
Posts: 357
Joined: Wed Mar 02, 2016 2:27 pm

Re: Anybody near retirement with mid-six figures?

Post by l1am »

bck63 wrote: Tue Sep 15, 2020 6:15 pm I see a lot of big numbers on this site. Just wondering if anyone is at or near retirement with mid-six figure portfolios? Or is it all 7-8 figures or more?
All depends what your expenses are, but yes most Americans retire on a lot less than 7 figures just fine.
mikejuss
Posts: 89
Joined: Tue Jun 23, 2020 1:36 pm

Re: Share your net worth progression

Post by mikejuss »

stoptothink wrote: Mon Sep 14, 2020 12:15 pm
justsomeguy2018 wrote: Sun Sep 13, 2020 8:46 pm
Hawaiishrimp wrote: Sun Sep 13, 2020 8:43 pm
mikejuss wrote: Sat Sep 05, 2020 1:43 pm Well done, all.

But I wonder how much of these extraordinary wealth progressions is basically owing to windfalls such as raises, inheritances, or sales (and the resultant savings), rather than to index investing (which, at best, grows one's capital at relatively modest rates). I say this as a committed Boglehead. I think there's value in remaining clear-eyed about the many factors that drive wealth creation, and it seems that a high income and one's willingness to save a substantial amount of it are the prerequisites to successful index investing.
In my case:
1. No inheritance, no lottery.
2. I have stock options from my job.
3. I did have individual stocks on top of index funds.
4. Just an average joe with a household income ~200k annually.
5. I do save & invest a decent amount. Probably 25-30% of my income.
6. Compound interest is the key.
7. Take educated risk is also important to me.

Good luck to you. Cheers.
How helpful can compound interest be when interest rates have been less than 2% for the better half of 10+ years??
Net worth more than tripling in less than a year, growing about 60x more than it had any previous year, didn't occur as a result of saving 25-30% of a $200k HHI and compound interest. Very clearly, #2 should be bolded and italicized.
This topic might well be worth a separate message thread.

I'll reiterate that the net-worth progressions here--many of which show figures doubling and tripling year in and year out--have little to do with index investing and much more to do with X factors (inheritances, single stock picks, company options).
Last edited by mikejuss on Fri Sep 18, 2020 10:11 pm, edited 4 times in total.
Tingting1013
Posts: 228
Joined: Mon Aug 24, 2020 5:44 pm

Re: Share your net worth progression

Post by Tingting1013 »

Keenobserver wrote: Tue Sep 15, 2020 6:35 pm Ok. So everyone here is smarter and richer than I. Cool.
Probably better looking too!

:sharebeer
slyfox1357
Posts: 56
Joined: Tue Dec 26, 2017 6:13 pm

Re: Share your net worth progression

Post by slyfox1357 »

mikejuss wrote: Fri Sep 18, 2020 7:59 pm
This topic might well be worth a separate message thread.

I'll reiterate that the net-worth progressions here--many of which show figures doubling and tripling year in and year out--have little to do with index investing. I'm not sure that the posters on this site understand that.
[ quote fixed by admin LadyGeek]

+1, very important point
Keenobserver
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Re: Share your net worth progression

Post by Keenobserver »

slyfox1357 wrote: Fri Sep 18, 2020 9:43 pm
mikejuss wrote: Fri Sep 18, 2020 7:59 pm
This topic might well be worth a separate message thread.

I'll reiterate that the net-worth progressions here--many of which show figures doubling and tripling year in and year out--have little to do with index investing. I'm not sure that the posters on this site understand that.
[ quote fixed by admin LadyGeek]

+1, very important point
I disagree. I think this thread is a prime example of how one can accumulate wealth whilst minimizing risk i.e indexing. Many posts here are an illustration of the Booglehead approach. In fact, to me this thread is one of the most important as it encapsulates the end goal in a measurable manner. Most people here explain that they did it the simple Booglhead way, routine investing in low index funds and ignoring the noise. I dont see anyone talking about taking a mortage out on their primary house to go all in on Bitcoin or penny stocks. So I respectfully disagree. I have read most if not all the posts on this thread.
Keenobserver
Posts: 401
Joined: Thu Aug 13, 2015 1:05 pm

Re: Share your net worth progression

Post by Keenobserver »

Tingting1013 wrote: Fri Sep 18, 2020 8:09 pm
Keenobserver wrote: Tue Sep 15, 2020 6:35 pm Ok. So everyone here is smarter and richer than I. Cool.
Probably better looking too!

:sharebeer
Definately better looking.
mptfan
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Joined: Mon Mar 05, 2007 9:58 am

Re: Share your net worth progression

Post by mptfan »

bluebolt wrote: Tue Sep 15, 2020 6:28 pm
tibbitts wrote: Tue Sep 15, 2020 3:15 pm
Hawaiishrimp wrote: Sun Sep 13, 2020 8:43 pm 4. Just an average joe with a household income ~200k annually.
Average household income would be more like $60k/year.
Depends whether you are talking about mean or median. Mean is over $100K.
https://fred.stlouisfed.org/series/MAFAINUSA672N
Median household income is a more meaningful measure of the "average household" because the mean is skewed higher by a very small number of ultra high income households.
Jablean
Posts: 522
Joined: Sat Jun 02, 2018 2:38 pm

Re: Share your net worth progression

Post by Jablean »

Here is my compressed 25 year timeline

96 - (65,000)...Started underwater in 96, just married, no kids, 2nd small house, in our 30s, paid off DH college loans, got a dog
99 - (88,000)...Started kid, bought new (30yrold) house rented out the other one for a few years before selling
05 - 9,000......Broke even for the 1st time, able to buy some newish cars, DW started w2 job
09 - 150,000...15,000 inheritance from DH father, Had enough cash could pay off all bills including mortgage if needed
14 - 400,000...Best income year on w2 jobs was $140,000 combined , DW went part-time contractor
16 - 500,000...Slow and steady, DH went full contractor - less money more family time, pretty proud of that 1/2 mill
17 - 800,000...Sad year - inherited $ from DW mother
19 -1,035,000..The stock market is not the economy but it had good returns, paid off mortgage
20 -1,100,000..DH still working, kid finally in virtual college. All numbers are w/o real estate value DH63 DW59
wtfire
Posts: 21
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Re: Share your net worth progression

Post by wtfire »

Jablean wrote: Sat Sep 19, 2020 10:50 pm Here is my compressed 25 year timeline

96 - (65,000)...Started underwater in 96, just married, no kids, 2nd small house, in our 30s, paid off DH college loans, got a dog
99 - (88,000)...Started kid, bought new (30yrold) house rented out the other one for a few years before selling
05 - 9,000......Broke even for the 1st time, able to buy some newish cars, DW started w2 job
09 - 150,000...15,000 inheritance from DH father, Had enough cash could pay off all bills including mortgage if needed
14 - 400,000...Best income year on w2 jobs was $140,000 combined , DW went part-time contractor
16 - 500,000...Slow and steady, DH went full contractor - less money more family time, pretty proud of that 1/2 mill
17 - 800,000...Sad year - inherited $ from DW mother
19 -1,035,000..The stock market is not the economy but it had good returns, paid off mortgage
20 -1,100,000..DH still working, kid finally in virtual college. All numbers are w/o real estate value DH63 DW59
Congratulations!! This is an amazing accomplishment! Any plan on retirement?
rexhat
Posts: 68
Joined: Sat Jun 08, 2013 4:56 pm

Re: Share your net worth progression

Post by rexhat »

rexhat wrote: Thu Jun 13, 2019 9:52 am
rexhat wrote: Sun Jan 07, 2018 9:29 pm 2011 $-27k
2012 $8.9k
2013 $77.5k
2014 $102k
2015 $294k
2016 $610k
2017 $1,037k
2018 $1,214k
As of 1/1
2011 $-27k
2012 $8.9k
2013 $77.5k
2014 $102k
2015 $294k
2016 $610k
2017 $1,037k
bought a house
2018 $1,214k
2019 $1,463k
to date $1,683k
As of 1/1
2011 $-27k
2012 $8.9k
2013 $77.5k
2014 $102k
2015 $294k
2016 $610k
2017 $1,037k
bought a house
2018 $1,214k
2019 $1,463k
2020 $2,237k
2020 to date 2,650k
mikejuss
Posts: 89
Joined: Tue Jun 23, 2020 1:36 pm

Re: Share your net worth progression

Post by mikejuss »

rexhat wrote: Thu Sep 24, 2020 8:55 pm
rexhat wrote: Thu Jun 13, 2019 9:52 am
rexhat wrote: Sun Jan 07, 2018 9:29 pm 2011 $-27k
2012 $8.9k
2013 $77.5k
2014 $102k
2015 $294k
2016 $610k
2017 $1,037k
2018 $1,214k
As of 1/1
2011 $-27k
2012 $8.9k
2013 $77.5k
2014 $102k
2015 $294k
2016 $610k
2017 $1,037k
bought a house
2018 $1,214k
2019 $1,463k
to date $1,683k
As of 1/1
2011 $-27k
2012 $8.9k
2013 $77.5k
2014 $102k
2015 $294k
2016 $610k
2017 $1,037k
bought a house
2018 $1,214k
2019 $1,463k
2020 $2,237k
2020 to date 2,650k
Terrific. What was your average income during this period?
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