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.
smitcat
Posts: 13737
Joined: Mon Nov 07, 2016 9:51 am

Re: Share your net worth progression

Post by smitcat »

LITeacher wrote: Tue Jul 09, 2024 8:20 am
smitcat wrote: Tue Jul 09, 2024 8:14 am
LITeacher wrote: Mon Jul 08, 2024 10:57 pm Age 38 and Wife 37

Date Net Worth
2011 $2,056.00
2012 $1,258.00
2013 $32,335.00
2014 $48,786.00
2015 $166,877.00
2016 $235,574.00
2017 $342,958.24
2018 $436,500.00
2019 $629,316.00
2020 $961,047.00
2021 $1,159,012.03
2022 $1,239,922.96
2023 $1,425,894.71

Current: $1,813,000

Home equity is included in these numbers, but our investment accounts just passed 1 million this week which is a nice milestone for us.
Fantastic - but....your net worth is not nearly as important due to the pensions.
Yes we will have one nice pension (my wife is not a teacher/public worker). However, our plan is to have her retire when I do, at 55, so our net worth will help the loss of the two salaries that the pension cannot make up (especially in pre-social security years).
Our kids are there as well - I think you will find that comparing that pension with no deductions to your current salaries less these: taxes, pension payments, savings, medical is a good method.
Then perhaps adjust for additional changes such as: mortgage payoff, savings for college, kids costs , etc.
LITeacher
Posts: 197
Joined: Mon Aug 07, 2017 11:29 pm

Re: Share your net worth progression

Post by LITeacher »

stay.the.course wrote: Tue Jul 09, 2024 9:37 am
LITeacher wrote: Tue Jul 09, 2024 8:11 am
stay.the.course wrote: Tue Jul 09, 2024 7:41 am let me help out the 50's cohort by adding ours.

early 50's
two income family
married filing jointly

Net wealth (excluding homes, 529's, custodian Roth): I have limited this to taxable and retirement accounts (403, 457, cash balance plan, SEP)

2015 $1.1 mil
2016 $1.2 mil
2017 $1.5 mil
2018 $2.1 mil
2019 $2.1 mil
2020 $2.65 mil
2021 $3.5 mil
2022 $4.2 mil
2023 $5.9 mil
2024 $7.65 mil
Nice growth -- would you mind sharing your income and what % you're saving in your investment accounts? We're at around 1.8 so between your 2017 and 2018 number and I can't imagine being anywhere near your 2024 number in 20 years let alone in 6 years.
Dear LITeacher:

Let me preface my answer by telling you that I love teachers.
In fact, I am the product of two teachers (my mother and my father). Both my wife and I are in medicine.
we are blessed.

We save over $400k-$450k per year (between the cash balance plan, the employer contributions to 403b, 457b, 457F and our contribution to 403b and 457B). A cash balance plan has been funded north of $250k per year for the past 3 years (which I will terminate soon, start paying the taxes, and save the rest in my taxable account).

I have two funds in all my accounts: VTSAX and VFIAX.
I have never sold anything.
100% equity.
Wow that's awesome. We manage to put around $78,800 a year away into our accounts annually:
23K my 403b
23K my 457b
10.5K her 401k
8.3K her HSA
7K my Roth IRA
7K her Roth IRA

Wife makes about $105,000 annually and I'm pulling in around $148k (128k in salary in a high paying district and around another 20k in side jobs). We are able to sock away what we can in part due to an annual family gift we get from my parents in January (though I started aggressively saving in retirement well before they started gifting us 3 years ago). I certainly doubt I will see your numbers but my wish is to hit $5million later on in life (38 right now) for no reason whatsoever except it's a random numerical milestone I have in my head.
DelMar
Posts: 43
Joined: Wed Feb 17, 2021 2:29 pm

Re: Share your net worth progression

Post by DelMar »

Retired former business owner adding another entry to the Over 50 Cohort (I'm 61):

Started Internet based CPG Brand in 1999...around the same time a friend lent me a book and recommended I follow its principles. The book was Common Sense On Mutual Funds by John Bogle. Thank-you Paul! It wasn't until 2013 I actually began tracking finances in a homemade spreadsheet.

These #s were taken from the first entry at the beginning of each new year except for 2021 where I used a # AFTER I was done paying huge LTCG taxes from business sale. I've been updating this spreadsheet every week or 2 since it began.

2013: 987K
2014: 911K
2015: 1.3M
2016: 1.4M
2017: 2.5M
2018: 8.3M (Began including Real Estate Equity in Net Worth)
2019: 10.7M
2020: 17.1M
2021: 33.6M (Sold Business to Private Equity. This was my # AFTER I was done paying State & Federal Taxes (California) :annoyed
2022: 35M
2023: 33.8M
2024 (January 1st): 39.3M
07/05/2024: 43.6M

Yes, it's nuts...I know. Happy to provide additional details.
jarjarM
Posts: 2614
Joined: Mon Jul 16, 2018 1:21 pm

Re: Share your net worth progression

Post by jarjarM »

DelMar wrote: Tue Jul 09, 2024 12:39 pm Retired former business owner adding another entry to the Over 50 Cohort (I'm 61):

Started Internet based CPG Brand in 1999...around the same time a friend lent me a book and recommended I follow its principles. The book was Common Sense On Mutual Funds by John Bogle. Thank-you Paul! It wasn't until 2013 I actually began tracking finances in a homemade spreadsheet.

These #s were taken from the first entry at the beginning of each new year except for 2021 where I used a # AFTER I was done paying huge LTCG taxes from business sale. I've been updating this spreadsheet every week or 2 since it began.

2013: 987K
2014: 911K
2015: 1.3M
2016: 1.4M
2017: 2.5M
2018: 8.3M (Began including Real Estate Equity in Net Worth)
2019: 10.7M
2020: 17.1M
2021: 33.6M (Sold Business to Private Equity. This was my # AFTER I was done paying State & Federal Taxes (California) :annoyed
2022: 35M
2023: 33.8M
2024 (January 1st): 39.3M
07/05/2024: 43.6M

Yes, it's nuts...I know. Happy to provide additional details.
Congrats on your success! Based on your jump from 2017 to 2018 (when real estate equity was started to be included), are you heavily tilt RE during those years? After the business was sold, did you continue to tilt heavily to RE? Just curious to see how assets are allocated at this level. Thanks.
pasadena
Posts: 2385
Joined: Sat Jul 02, 2016 1:23 am
Location: PNW

Re: Share your net worth progression

Post by pasadena »

A little mid-year update:

Assets are 100% financial (I'm a renter).

31/12/2011 - 6k€ - 37 yo
31/12/2012 - $(15k) - Moved to the US. Bought a $20k car financed by a 0% employer loan, and spent the 6k€ on home country income taxes for 2011.
31/12/2014 - $52k
31/12/2015 - $93k - Car and relocation loans paid off in February. Opened first Roth IRA.
31/12/2016 - $164k - Started maxing out 401(k), Opened first brokerage account.
31/12/2017 - $251k
31/12/2018 - $330k - Nice retention bonus from ex-employer
31/12/2019 - $519k - New job with mega backdoor Roth, Pension lump-sum from ex-employer in January ($70k)
31/12/2020 - $715k - 46 yo. Bought a car with a loan
31/12/2021 - $994k - Reached $1M on 11/03
31/12/2022 - $856k
31/12/2023 - $1.184k - Went over $1M again in May.
-----
07/08/2024 - $1.422k

Starting to really feel like I'm firmly in the back half of this accumulation thing, and getting the "last few years" itch.
DelMar
Posts: 43
Joined: Wed Feb 17, 2021 2:29 pm

Re: Share your net worth progression

Post by DelMar »

Real Estate is limited but has served me well. Bought home in Del Mar, CA in 2001 a few weeks after 9/11 for 960K. Zillow puts its current value at about 4M. In 2017 I moved what was my home based business for 15 years into a 2400 Sq. Ft. Industrial Unit which I purchased. 2 years later I bought a 2nd one. The two of them together are valued at about 1.8M. I'm renting out the larger one ($2.15/Sq. Ft. + Triple Net) and using the smaller one for my own office/warehouse/man cave.

I've been looking to buy another unit(s) similar to the ones above...Industrial "Flex" units in the range of 1K to 5K Sq. Ft. but will only do so if it's within my specific parameters and in over 3 years of looking haven't found one.
stay.the.course
Posts: 34
Joined: Thu Apr 04, 2024 4:29 am

Re: Share your net worth progression

Post by stay.the.course »

DelMar wrote: Tue Jul 09, 2024 12:39 pm Retired former business owner adding another entry to the Over 50 Cohort (I'm 61):

Started Internet based CPG Brand in 1999...around the same time a friend lent me a book and recommended I follow its principles. The book was Common Sense On Mutual Funds by John Bogle. Thank-you Paul! It wasn't until 2013 I actually began tracking finances in a homemade spreadsheet.

These #s were taken from the first entry at the beginning of each new year except for 2021 where I used a # AFTER I was done paying huge LTCG taxes from business sale. I've been updating this spreadsheet every week or 2 since it began.

2013: 987K
2014: 911K
2015: 1.3M
2016: 1.4M
2017: 2.5M
2018: 8.3M (Began including Real Estate Equity in Net Worth)
2019: 10.7M
2020: 17.1M
2021: 33.6M (Sold Business to Private Equity. This was my # AFTER I was done paying State & Federal Taxes (California) :annoyed
2022: 35M
2023: 33.8M
2024 (January 1st): 39.3M
07/05/2024: 43.6M

Yes, it's nuts...I know. Happy to provide additional details.
you have to give us details! come on!

this is amazing. congratulations on your success.

Questions: ( I am sure I will have more as I process this further)

1. what are you invested in now? can you break down your wealth please and your investments? qualified vs. non qualified accounts? Roth vs. traditional?

2. bonds? what are your thoughts on bonds?

3. do you use a financial planner?

4. any kids? any estate planning? if yes, what kind?
DelMar
Posts: 43
Joined: Wed Feb 17, 2021 2:29 pm

Re: Share your net worth progression

Post by DelMar »

stay.the.course wrote: Tue Jul 09, 2024 1:04 pm
DelMar wrote: Tue Jul 09, 2024 12:39 pm Retired former business owner adding another entry to the Over 50 Cohort (I'm 61):

Started Internet based CPG Brand in 1999...around the same time a friend lent me a book and recommended I follow its principles. The book was Common Sense On Mutual Funds by John Bogle. Thank-you Paul! It wasn't until 2013 I actually began tracking finances in a homemade spreadsheet.

These #s were taken from the first entry at the beginning of each new year except for 2021 where I used a # AFTER I was done paying huge LTCG taxes from business sale. I've been updating this spreadsheet every week or 2 since it began.

2013: 987K
2014: 911K
2015: 1.3M
2016: 1.4M
2017: 2.5M
2018: 8.3M (Began including Real Estate Equity in Net Worth)
2019: 10.7M
2020: 17.1M
2021: 33.6M (Sold Business to Private Equity. This was my # AFTER I was done paying State & Federal Taxes (California) :annoyed
2022: 35M
2023: 33.8M
2024 (January 1st): 39.3M
07/05/2024: 43.6M

Yes, it's nuts...I know. Happy to provide additional details.
you have to give us details! come on!

ANSWERS BELOW

this is amazing. congratulations on your success.

Questions: ( I am sure I will have more as I process this further)

1. what are you invested in now? can you break down your wealth please and your investments? qualified vs. non qualified accounts? Roth vs. traditional?

About 1.5M in Qualified (mix of Traditional & Roth). About 35M in Regular Brokerage. Majority of that is in VTI...though even at a Dividend rate of about 1.4% or so it throws off more than I need so not tax efficient. I've been reinvesting extra funds into BRK-B & VUG to try and throttle the dividends a bit.

2. bonds? what are your thoughts on bonds?

A couple years ago I began apportioning money into T-Bills. It's a mix of maturities ranging from 4 weeks to 52 weeks. Ultimately I'll probably streamline into 4 1M Bills maturing quarterly. Every quarter I will top off daily living accounts back to their limits which I have structured in my "Flywheel" systemized portfolio. Frankly, between the 4M in Bills, Cashflow from Real Estate Rental (6K/Month), and forthcoming SS my wife & I will be collecting in a few years I may never need to touch the current VTI/VUG/BRK-B ... leaving free to grow & compound for many years to come. At the very least I believe I'll be able to stomach the inevitable drawdowns (big & small) with the 4M in Bills, Rental Income, SS.

3. do you use a financial planner?

Other than a few calls with Rick Ferri over the last few years...no. I hate the idea. In the last 20 years I have spent many hours on this forum as well as, literally, thousands of hours listening to a wide selection of podcasts, reading books, etc. from the usual suspects. I am confident in my wisdom, experience & temperament and for the most part feel that the majority of Financial Advisors, Wealth Managers are, at best, charlatans.

Once my M&A journey began through to its final event it was comical how many "cockroaches" found their way to my Phone/Inbox and wanted to "help" me.

4. any kids? any estate planning? if yes, what kind?

One daughter (24) who is enrolled and getting her Masters/PhD. Only estate planning is the Revocable Trust we created 5 or 6 years ago. Most assets are in that Trust.
MalteseLover
Posts: 7
Joined: Thu Mar 07, 2024 2:17 pm

Re: Share your net worth progression

Post by MalteseLover »

@ DelMar, I assume you're aware the current estate tax exemption amount ($13.6mm) is scheduled to sunset after the end of 2025, and will then be roughly half the current amount. So it could be use it or lose it, With your wife, the two of you could shelter $27.2mm by using some irrevocable trust (not to mention the creditor protection benefits). I don't think the revocable trust by itself does it.
DelMar
Posts: 43
Joined: Wed Feb 17, 2021 2:29 pm

Re: Share your net worth progression

Post by DelMar »

MalteseLover wrote: Tue Jul 09, 2024 2:09 pm @ DelMar, I assume you're aware the current estate tax exemption amount ($13.6mm) is scheduled to sunset after the end of 2025, and will then be roughly half the current amount. So it could be use it or lose it, With your wife, the two of you could shelter $27.2mm by using some irrevocable trust (not to mention the creditor protection benefits). I don't think the revocable trust by itself does it.
Yes, I'm aware of the sunset...not overly concerned. My issue with Irrevocable is my personal priority on both keeping things SIMPLE & maintaining total control over assets without restriction. Beyond that, I'm also of the mind that with both of us being in our early 60s and healthy...tax policy will continue to evolve and change in the coming years/decades. I have no desire to re-visit this subject and continually sit down with lawyers, accountants, etc. every few years when it's apparent another in a long line of changes is possibly on the horizon.

Lastly, with regards to the near-term...in the last 2 weeks it would appear that the "odds" of some of these "sunsets" coming to fruition are fading and we may even have a few "sunrises" on the way. :)
stay.the.course
Posts: 34
Joined: Thu Apr 04, 2024 4:29 am

Re: Share your net worth progression

Post by stay.the.course »

Del Mar wrote:

A couple years ago I began apportioning money into T-Bills. It's a mix of maturities ranging from 4 weeks to 52 weeks. Ultimately I'll probably streamline into 4 1M Bills maturing quarterly. Every quarter I will top off daily living accounts back to their limits which I have structured in my "Flywheel" systemized portfolio. Frankly, between the 4M in Bills, Cashflow from Real Estate Rental (6K/Month), and forthcoming SS my wife & I will be collecting in a few years I may never need to touch the current VTI/VUG/BRK-B ... leaving free to grow & compound for many years to come. At the very least I believe I'll be able to stomach the inevitable drawdowns (big & small) with the 4M in Bills, Rental Income, SS.

----------------------------------------------------

Del Mar:

do you mind explaining to me how T Bills work?
i understand it's part of fixed income and essentially you are lending the government money for a set period of time for a set return rate. if you buy four 1 million T Bills, are you basically doing that in the event of a market downturn so you don't sell from your brocherage at a time when the market is low? what happens as they mature? do you have to take all the $1 million out? would you buy new ones? how often do they issue them? can you access the proceeds before the bill matures?
jarjarM
Posts: 2614
Joined: Mon Jul 16, 2018 1:21 pm

Re: Share your net worth progression

Post by jarjarM »

DelMar wrote: Tue Jul 09, 2024 12:58 pm Real Estate is limited but has served me well. Bought home in Del Mar, CA in 2001 a few weeks after 9/11 for 960K. Zillow puts its current value at about 4M. In 2017 I moved what was my home based business for 15 years into a 2400 Sq. Ft. Industrial Unit which I purchased. 2 years later I bought a 2nd one. The two of them together are valued at about 1.8M. I'm renting out the larger one ($2.15/Sq. Ft. + Triple Net) and using the smaller one for my own office/warehouse/man cave.

I've been looking to buy another unit(s) similar to the ones above...Industrial "Flex" units in the range of 1K to 5K Sq. Ft. but will only do so if it's within my specific parameters and in over 3 years of looking haven't found one.
Thanks for sharing, great to see you leverage your business to accumulate RE assets :beer

P.S. User ID checks out here :D
DelMar
Posts: 43
Joined: Wed Feb 17, 2021 2:29 pm

Re: Share your net worth progression

Post by DelMar »

stay.the.course wrote: Tue Jul 09, 2024 3:38 pm Del Mar wrote:

A couple years ago I began apportioning money into T-Bills. It's a mix of maturities ranging from 4 weeks to 52 weeks. Ultimately I'll probably streamline into 4 1M Bills maturing quarterly. Every quarter I will top off daily living accounts back to their limits which I have structured in my "Flywheel" systemized portfolio. Frankly, between the 4M in Bills, Cashflow from Real Estate Rental (6K/Month), and forthcoming SS my wife & I will be collecting in a few years I may never need to touch the current VTI/VUG/BRK-B ... leaving free to grow & compound for many years to come. At the very least I believe I'll be able to stomach the inevitable drawdowns (big & small) with the 4M in Bills, Rental Income, SS.

----------------------------------------------------

Del Mar:

do you mind explaining to me how T Bills work?
i understand it's part of fixed income and essentially you are lending the government money for a set period of time for a set return rate. if you buy four 1 million T Bills, are you basically doing that in the event of a market downturn so you don't sell from your brocherage at a time when the market is low? what happens as they mature? do you have to take all the $1 million out? would you buy new ones? how often do they issue them? can you access the proceeds before the bill matures?
Yes...you pretty much have it. My goal is to not suffer emotionally (or at least as little as possible) during market downturns and be able to ride out the inevitable storms. Currently, I manage my financial day to day life with a Fidelity CMA linked with a Brokerage Acct. Fidelity's recent inclusion of SPAXX as a Core within the CMA as well as my holdings in FSIXX on the brokerage side as the next level up of my spillover...followed by the an even higher spillover represented by the quarterly maturing T-Bills means that I'm always getting at least 5% - 5.5% on my "CASH". Furthermore...with FSIXX and the T-Bills I'm avoiding State & Local Tax as a California resident...which is nice.

My strategy is evolving but my current outlook is to continually top-off all of the above (including other income sources) to have a Perennial 10 Year Buffer against Sequence Of Return Risk so I can let that Tranche of VTI/VUG/BRK-B grow & compound in the hopes of "9 figure bragging rights" at some point. With my business sold...I still need "something" to shoot for. :beer
DelMar
Posts: 43
Joined: Wed Feb 17, 2021 2:29 pm

Re: Share your net worth progression

Post by DelMar »

jarjarM wrote: Tue Jul 09, 2024 3:42 pm
DelMar wrote: Tue Jul 09, 2024 12:58 pm Real Estate is limited but has served me well. Bought home in Del Mar, CA in 2001 a few weeks after 9/11 for 960K. Zillow puts its current value at about 4M. In 2017 I moved what was my home based business for 15 years into a 2400 Sq. Ft. Industrial Unit which I purchased. 2 years later I bought a 2nd one. The two of them together are valued at about 1.8M. I'm renting out the larger one ($2.15/Sq. Ft. + Triple Net) and using the smaller one for my own office/warehouse/man cave.

I've been looking to buy another unit(s) similar to the ones above...Industrial "Flex" units in the range of 1K to 5K Sq. Ft. but will only do so if it's within my specific parameters and in over 3 years of looking haven't found one.
Thanks for sharing, great to see you leverage your business to accumulate RE assets :beer

P.S. User ID checks out here :D
Yes...in fact, as I've been learning...at current prices it really only makes sense for someone to by the kind of real estate I'm interested in (small industrial flex units) if they are a business owner of a successful, profitable, cash flowing business and the property will be used to run that business. Otherwise, as an investor, at current prices...it is really tough to make it pencil. Been looking to buy something for almost 4 years and have found nothing. Granted...my parameters are pretty narrow.
User avatar
Lawrence of Suburbia
Posts: 776
Joined: Mon Aug 08, 2022 12:04 pm

Re: Share your net worth progression

Post by Lawrence of Suburbia »

Age 70, retired at 65. Zero net worth at age 30 (apart from guitars and a rusted-out 1975 Toyota Celica. I miss that car!)

Net worth (portfolio & studio flat),
$575,000 & $325,000

Worked as a musician much of my life (i.e., mostly destitute with occasional brief periods of accidental prosperity); last 20 years of my working life, made little more than Seattle minimum wage (year I retired, I made $16/hour) as a lab courier. Have to pull $7-8k out of my portfolio every year, makes me nervous seeing it increase due to inflation; but what can you do? ...

I'll never be a millionaire.

But I'm incredibly grateful for everything, every day, all day.
VTHRX/DODWX/TIAA Traditional
AlaskaTeach
Posts: 277
Joined: Fri May 27, 2022 8:51 pm

Re: Share your net worth progression

Post by AlaskaTeach »

On a much smaller scale, an update. 400k, the other day. Huge for me because I was at about 320k January 1. I have read the first 100k is the hardest. In my case it was the easiest the first time, because the first time was in the late 90s. The second time it didn't happen until 2018, with the sale of a house. July 2021 to July 2024...165k to 400k.
wunwun1
Posts: 121
Joined: Fri May 24, 2024 7:47 am

Re: Share your net worth progression

Post by wunwun1 »

Lawrence of Suburbia wrote: Tue Jul 09, 2024 5:35 pm Age 70, retired at 65. Zero net worth at age 30 (apart from guitars and a rusted-out 1975 Toyota Celica. I miss that car!)

Net worth (portfolio & studio flat),
$575,000 & $325,000

Worked as a musician much of my life (i.e., mostly destitute with occasional brief periods of accidental prosperity); last 20 years of my working life, made little more than Seattle minimum wage (year I retired, I made $16/hour) as a lab courier. Have to pull $7-8k out of my portfolio every year, makes me nervous seeing it increase due to inflation; but what can you do? ...

I'll never be a millionaire.

But I'm incredibly grateful for everything, every day, all day.
I think you are underspending. You can do better if you convert part of your asset, say 400k, to SPIA.

$400k income in 1 month at 70 years old
Male: $34,824/year
Female: $33,384/year
https://www.immediateannuities.com/

That will leave you $175k and the condo for incidentals.
Triple digit golfer
Posts: 10574
Joined: Mon May 18, 2009 5:57 pm

Re: Share your net worth progression

Post by Triple digit golfer »

Triple digit golfer wrote: Fri May 10, 2024 9:10 am
Triple digit golfer wrote: Mon Jan 29, 2024 8:01 am
Triple digit golfer wrote: Sat Jan 01, 2022 7:47 am We're 36, married couple with a child. Last 5 years net worth at 12/31:

2017: $658k
2018: $672k
2019: $873k
2020: $1,098k
2021: $1,404k
We're now 38 years old.

2017: $658k
2018: $672k
2019: $873k
2020: $1,098k
2021: $1,404k
2022: $1,288k
2023: $1,586k
We're up to about $1,725-1,750k net worth, but a recent milestone reached is $1,500k between investment and savings accounts. In other words, our investment portfolio topped $1,500k for the first time. The other $225-250k is home equity, 529 plan, and a conservative amount included for our cars.
Roughly $1,840k net worth today at age 39, though I'm fully aware that it could be cut in half in the blink of an eye. The odd thing is, if you'd have told me ten years ago that I'd be married and we'd have a net worth of $1.84 million, I'd have thought we'd feel a little different. I don't feel any different or any richer than I did then. We don't spend any more money (other than maybe due to inflation in recent years), don't drive nicer cars, don't go on any different types of vacations or live in a fancy house. Our neighbors very likely think we're struggling like they are, taking out loans for windows and dental work. We drive less expensive cars than almost all of them. I'm okay with and actually prefer that perception.

I wonder at what level of net worth I'll feel different. I assume that I'll never get there. Now, my priority is securing retirement and covering our daughter's education, both of which are obviously on a great track. After that, maybe my priority will be a cushion for potential long term care. After that, maybe a cushion for our daughter. My mindset is and probably always will be that there is always something to save for. It's just how I'm wired. I doubt I'd feel rich with a $5 or $10 million net worth. I always said I'd retire at 25x expenses, but I assume that as long as I'm able to work, I'll at least do something for some income because there's always something to save for or something that might come up. Can't re-wire my brain!
OatmealAddict
Posts: 1240
Joined: Fri Sep 27, 2013 4:03 pm

Re: Share your net worth progression

Post by OatmealAddict »

Triple digit golfer wrote: Wed Jul 10, 2024 7:44 am
Triple digit golfer wrote: Fri May 10, 2024 9:10 am
Triple digit golfer wrote: Mon Jan 29, 2024 8:01 am
Triple digit golfer wrote: Sat Jan 01, 2022 7:47 am We're 36, married couple with a child. Last 5 years net worth at 12/31:

2017: $658k
2018: $672k
2019: $873k
2020: $1,098k
2021: $1,404k
We're now 38 years old.

2017: $658k
2018: $672k
2019: $873k
2020: $1,098k
2021: $1,404k
2022: $1,288k
2023: $1,586k
We're up to about $1,725-1,750k net worth, but a recent milestone reached is $1,500k between investment and savings accounts. In other words, our investment portfolio topped $1,500k for the first time. The other $225-250k is home equity, 529 plan, and a conservative amount included for our cars.
Roughly $1,840k net worth today at age 39, though I'm fully aware that it could be cut in half in the blink of an eye. The odd thing is, if you'd have told me ten years ago that I'd be married and we'd have a net worth of $1.84 million, I'd have thought we'd feel a little different. I don't feel any different or any richer than I did then. We don't spend any more money (other than maybe due to inflation in recent years), don't drive nicer cars, don't go on any different types of vacations or live in a fancy house. Our neighbors very likely think we're struggling like they are, taking out loans for windows and dental work. We drive less expensive cars than almost all of them. I'm okay with and actually prefer that perception.

I wonder at what level of net worth I'll feel different. I assume that I'll never get there. Now, my priority is securing retirement and covering our daughter's education, both of which are obviously on a great track. After that, maybe my priority will be a cushion for potential long term care. After that, maybe a cushion for our daughter. My mindset is and probably always will be that there is always something to save for. It's just how I'm wired. I doubt I'd feel rich with a $5 or $10 million net worth. I always said I'd retire at 25x expenses, but I assume that as long as I'm able to work, I'll at least do something for some income because there's always something to save for or something that might come up. Can't re-wire my brain!
Similar boat here. We're just a touch older than you and almost the exact same net worth...and I still feel that every month is a bit of a struggle to get through. Despite decent incomes, it takes a lot of effort to get everything paid for and all the needed savings allocated.

With that said, we are paying extra on our mortgage and are maxing retirement accounts out, but when it comes time to replace a car or something similar, it's going to hurt, no doubt, since we don't have much taxable savings and can't seem to get much in there after expenses & retirement savings.
Triple digit golfer
Posts: 10574
Joined: Mon May 18, 2009 5:57 pm

Re: Share your net worth progression

Post by Triple digit golfer »

OatmealAddict wrote: Wed Jul 10, 2024 7:56 am
Triple digit golfer wrote: Wed Jul 10, 2024 7:44 am
Triple digit golfer wrote: Fri May 10, 2024 9:10 am
Triple digit golfer wrote: Mon Jan 29, 2024 8:01 am
Triple digit golfer wrote: Sat Jan 01, 2022 7:47 am We're 36, married couple with a child. Last 5 years net worth at 12/31:

2017: $658k
2018: $672k
2019: $873k
2020: $1,098k
2021: $1,404k
We're now 38 years old.

2017: $658k
2018: $672k
2019: $873k
2020: $1,098k
2021: $1,404k
2022: $1,288k
2023: $1,586k
We're up to about $1,725-1,750k net worth, but a recent milestone reached is $1,500k between investment and savings accounts. In other words, our investment portfolio topped $1,500k for the first time. The other $225-250k is home equity, 529 plan, and a conservative amount included for our cars.
Roughly $1,840k net worth today at age 39, though I'm fully aware that it could be cut in half in the blink of an eye. The odd thing is, if you'd have told me ten years ago that I'd be married and we'd have a net worth of $1.84 million, I'd have thought we'd feel a little different. I don't feel any different or any richer than I did then. We don't spend any more money (other than maybe due to inflation in recent years), don't drive nicer cars, don't go on any different types of vacations or live in a fancy house. Our neighbors very likely think we're struggling like they are, taking out loans for windows and dental work. We drive less expensive cars than almost all of them. I'm okay with and actually prefer that perception.

I wonder at what level of net worth I'll feel different. I assume that I'll never get there. Now, my priority is securing retirement and covering our daughter's education, both of which are obviously on a great track. After that, maybe my priority will be a cushion for potential long term care. After that, maybe a cushion for our daughter. My mindset is and probably always will be that there is always something to save for. It's just how I'm wired. I doubt I'd feel rich with a $5 or $10 million net worth. I always said I'd retire at 25x expenses, but I assume that as long as I'm able to work, I'll at least do something for some income because there's always something to save for or something that might come up. Can't re-wire my brain!
Similar boat here. We're just a touch older than you and almost the exact same net worth...and I still feel that every month is a bit of a struggle to get through. Despite decent incomes, it takes a lot of effort to get everything paid for and all the needed savings allocated.

With that said, we are paying extra on our mortgage and are maxing retirement accounts out, but when it comes time to replace a car or something similar, it's going to hurt, no doubt, since we don't have much taxable savings and can't seem to get much in there after expenses & retirement savings.
Totally get it. We're in positions that most people would be envious of, yet, because of our high savings standards, don't feel like we're doing all that great. But deep down, I know we are.
Nebraska_Drought
Posts: 387
Joined: Fri Nov 13, 2020 10:19 am
Location: Lincoln, NE

Re: Share your net worth progression

Post by Nebraska_Drought »

Started our net worth calculations in August 2017:

2017: $966,090
2018: $1,114,031
2019: $1,202,972
2020: $1,404,122
2021: $1,752,705
2022: $1,673,792
2023: $ 1,872,232
current in 2024: $2,110,025

Preface to say that we are working couple who have never made over $175,000 combined in any year. 2 kids in college and no mortgage or debt of any kind. Early 50's/late 40's couple who will retire in 10 years and we are contributing about $80,000 a year now to retirement and our kids have zero college debt. It felt good to get over that $2M mark this year ! House equity makes up about $400,000 of my estimates.
Bird Watcher
Posts: 1
Joined: Wed May 29, 2024 1:23 pm

Re: Share your net worth progression

Post by Bird Watcher »

How exciting that this is my first post on the forum. I’ve been reading here for a few years; long before making an account and this forum is what finally helped me realize I needed to be better about paying off debt, saving, and investing for retirement. I’m very late to the party, but thankful to have gotten here.

Age: 51

Before 2021: I’m not sure, but it wasn’t great. The highest year I remember was about $27,000. I’m sure 2019 and 2020 were better than that due to my 2021 figure.

2021: $129,000
2022: $152,000
2023: $184,000
2024: $203,000 (as of 07/05)

My tax bracket is at the upper end of the 12% range, and I live in an HCOL, but rent from friends so my overall expenses are pretty low and my hobbies are cheap. I put 20% into my 401k, and pile as much into my other retirement accounts as I can.
jarjarM
Posts: 2614
Joined: Mon Jul 16, 2018 1:21 pm

Re: Share your net worth progression

Post by jarjarM »

Nebraska_Drought wrote: Wed Jul 10, 2024 3:03 pm Started our net worth calculations in August 2017:

2017: $966,090
2018: $1,114,031
2019: $1,202,972
2020: $1,404,122
2021: $1,752,705
2022: $1,673,792
2023: $ 1,872,232
current in 2024: $2,110,025

Preface to say that we are working couple who have never made over $175,000 combined in any year. 2 kids in college and no mortgage or debt of any kind. Early 50's/late 40's couple who will retire in 10 years and we are contributing about $80,000 a year now to retirement and our kids have zero college debt. It felt good to get over that $2M mark this year ! House equity makes up about $400,000 of my estimates.
Congrats on the net worth, especially since it's achieved without high income (by BH standard). Your saving rate is amazing. Also, how did your kids avoid college debt, scholarships?
Nebraska_Drought
Posts: 387
Joined: Fri Nov 13, 2020 10:19 am
Location: Lincoln, NE

Re: Share your net worth progression

Post by Nebraska_Drought »

jarjarM wrote: Wed Jul 10, 2024 3:35 pm
Nebraska_Drought wrote: Wed Jul 10, 2024 3:03 pm Started our net worth calculations in August 2017:

2017: $966,090
2018: $1,114,031
2019: $1,202,972
2020: $1,404,122
2021: $1,752,705
2022: $1,673,792
2023: $ 1,872,232
current in 2024: $2,110,025

Preface to say that we are working couple who have never made over $175,000 combined in any year. 2 kids in college and no mortgage or debt of any kind. Early 50's/late 40's couple who will retire in 10 years and we are contributing about $80,000 a year now to retirement and our kids have zero college debt. It felt good to get over that $2M mark this year ! House equity makes up about $400,000 of my estimates.
Congrats on the net worth, especially since it's achieved without high income (by BH standard). Your saving rate is amazing. Also, how did your kids avoid college debt, scholarships?
My son had a full ride academic scholarship and graduated with a BS in Engineering this last May. My daughter earned a full-ride D-1 volleyball scholarship and is starting her 2nd year of that this year. They both had 529's that totaled about $100K that were allocated back to each of them in case of grad school or the like.

Slow and steady. I bought my first mutual fund when I was 14 and switched over to Vanguard around 2000. It works !
Jimsad
Posts: 972
Joined: Mon Mar 20, 2017 5:54 pm

Re: Share your net worth progression

Post by Jimsad »

stay.the.course wrote: Tue Jul 09, 2024 9:41 am
if i take a guess (based on 2018-2019 numbers on later) - this BH has a big shovel- at bare minimum $200k+ annually being invested into portfolio (assumption his/her based on some 80-90% equities based mostly on S&P500)
[/quote]

Dear Sc9182, you are exactly right.
we started the cash balance plan in 2020 and super funded it in 2020, 2021 and 2022 and 2023.
I am sure we benefited from both dips in 2020 and 2022.
[/quote]
Are you 100% stock funds in cash balance plan too ?
Are you the only one in cash balance plan or do you have employees in it too?
User avatar
Lawrence of Suburbia
Posts: 776
Joined: Mon Aug 08, 2022 12:04 pm

Re: Share your net worth progression

Post by Lawrence of Suburbia »

wunwun1 wrote: Wed Jul 10, 2024 7:31 am
Lawrence of Suburbia wrote: Tue Jul 09, 2024 5:35 pm Age 70, retired at 65. Zero net worth at age 30 (apart from guitars and a rusted-out 1975 Toyota Celica. I miss that car!)

Net worth (portfolio & studio flat),
$575,000 & $325,000

Worked as a musician much of my life (i.e., mostly destitute with occasional brief periods of accidental prosperity); last 20 years of my working life, made little more than Seattle minimum wage (year I retired, I made $16/hour) as a lab courier. Have to pull $7-8k out of my portfolio every year, makes me nervous seeing it increase due to inflation; but what can you do? ...

I'll never be a millionaire.

But I'm incredibly grateful for everything, every day, all day.
I think you are underspending. You can do better if you convert part of your asset, say 400k, to SPIA.

$400k income in 1 month at 70 years old
Male: $34,824/year
Female: $33,384/year
https://www.immediateannuities.com/

That will leave you $175k and the condo for incidentals.
Believe me, as someone who adores guaranteed income (along with S.S. I've got $500/month income from a SPIA), that sounds very tempting save one issue: inflation. Most of the conventional CFP wisdom seems to suggest leaving a majority in stocks/mutual funds to keep up with increasing cost of living. I've also heard that insurance companies are very reluctant to let clients put more than 50% of their savings into SPIA's (a legal liability issue? I'm not clear on that).

I do plan on converting my TIAA Traditional to a SPIA at age 73 (to elude RMDs), which will get me another ~$500/month. But further SPIA purchases will depend (at least in part) upon how serious the U.S. government is on keeping inflation in check.
VTHRX/DODWX/TIAA Traditional
wunwun1
Posts: 121
Joined: Fri May 24, 2024 7:47 am

Re: Share your net worth progression

Post by wunwun1 »

Lawrence of Suburbia wrote: Wed Jul 10, 2024 4:37 pm
wunwun1 wrote: Wed Jul 10, 2024 7:31 am
Lawrence of Suburbia wrote: Tue Jul 09, 2024 5:35 pm Age 70, retired at 65. Zero net worth at age 30 (apart from guitars and a rusted-out 1975 Toyota Celica. I miss that car!)

Net worth (portfolio & studio flat),
$575,000 & $325,000

Worked as a musician much of my life (i.e., mostly destitute with occasional brief periods of accidental prosperity); last 20 years of my working life, made little more than Seattle minimum wage (year I retired, I made $16/hour) as a lab courier. Have to pull $7-8k out of my portfolio every year, makes me nervous seeing it increase due to inflation; but what can you do? ...

I'll never be a millionaire.

But I'm incredibly grateful for everything, every day, all day.
I think you are underspending. You can do better if you convert part of your asset, say 400k, to SPIA.

$400k income in 1 month at 70 years old
Male: $34,824/year
Female: $33,384/year
https://www.immediateannuities.com/

That will leave you $175k and the condo for incidentals.
Believe me, as someone who adores guaranteed income (along with S.S. I've got $500/month income from a SPIA), that sounds very tempting save one issue: inflation. Most of the conventional CFP wisdom seems to suggest leaving a majority in stocks/mutual funds to keep up with increasing cost of living. I've also heard that insurance companies are very reluctant to let clients put more than 50% of their savings into SPIA's (a legal liability issue? I'm not clear on that).

I do plan on converting my TIAA Traditional to a SPIA at age 73 (to elude RMDs), which will get me another ~$500/month. But further SPIA purchases will depend (at least in part) upon how serious the U.S. government is on keeping inflation in check.
... at least spend 4% of your portfolio, which is a little over $20k/year. I really think you have more room to spend if you want.
jarjarM
Posts: 2614
Joined: Mon Jul 16, 2018 1:21 pm

Re: Share your net worth progression

Post by jarjarM »

Nebraska_Drought wrote: Wed Jul 10, 2024 3:39 pm
jarjarM wrote: Wed Jul 10, 2024 3:35 pm
Nebraska_Drought wrote: Wed Jul 10, 2024 3:03 pm Started our net worth calculations in August 2017:

2017: $966,090
2018: $1,114,031
2019: $1,202,972
2020: $1,404,122
2021: $1,752,705
2022: $1,673,792
2023: $ 1,872,232
current in 2024: $2,110,025

Preface to say that we are working couple who have never made over $175,000 combined in any year. 2 kids in college and no mortgage or debt of any kind. Early 50's/late 40's couple who will retire in 10 years and we are contributing about $80,000 a year now to retirement and our kids have zero college debt. It felt good to get over that $2M mark this year ! House equity makes up about $400,000 of my estimates.
Congrats on the net worth, especially since it's achieved without high income (by BH standard). Your saving rate is amazing. Also, how did your kids avoid college debt, scholarships?
My son had a full ride academic scholarship and graduated with a BS in Engineering this last May. My daughter earned a full-ride D-1 volleyball scholarship and is starting her 2nd year of that this year. They both had 529's that totaled about $100K that were allocated back to each of them in case of grad school or the like.

Slow and steady. I bought my first mutual fund when I was 14 and switched over to Vanguard around 2000. It works !
Congrats again to starting early and raised such amazing kids :beer
angelescrest
Posts: 1747
Joined: Tue May 27, 2008 10:48 am
Location: West Coast

Re: Share your net worth progression

Post by angelescrest »

JS-Elcano wrote: Mon Jul 08, 2024 10:24 pm
snackdog wrote: Thu Jul 04, 2024 8:04 am Mid year update with 2022-2024 results from 417 responses (only shows those who included their age in post), in millions of USD net worth:

age count p10 p50 p90
20s 35 0.1 0.2 1.0
30s 180 0.3 0.9 2.8
40s 155 0.8 2.4 7.2
50s 37 1.0 4.0 12.3
60s 10 1.4 3.7 9.8

Median age of respondents is 39 years and median NW $1.5 million.

We still have a real droop in responses above age 50. Need more!
Age: 50s

1999 -- -$500 (started first job fresh out of grad school)
2000 -- $2k (estimate)
2001 -- $4k (estimate)
2002 -- $7k
2003 -- $21k
2004 -- $33k
2005 -- $29k
2006 -- $52k
2007 -- $75k
2008 -- $93k
2009 -- $53k
2010 -- $39k
2011 -- $73k
2012 -- $119k
2013 -- $191k
2014 -- $247k
2015 -- $283k
2016 -- $347k
2017 -- $426k
2018 -- $485k
2019 -- $655k
2020 -- $827k
2021 -- $1,122k
2022 -- $1,152k
2023 -- $1,411k
2024 YTD -- 1,584k
Well done, I always appreciate when you post an update. 👏
njdealguy
Posts: 267
Joined: Wed Jul 26, 2017 8:15 am

Re: Share your net worth progression

Post by njdealguy »

Wasnt regularly tracking my nw before 2014 except couple months, had hardly anything before 2010 except home equity.

Believe if I were more conservative with investments during and post pandemic (just going 100% vti instead of bad individual stock bets like PTON, ZOOM, and TDOC, should've had 2 mill plus by now). Age is early 40s, and the figures are just my own, combining with spouse have about another 550k

April, 2011: 345k
Nov, 2013: 451k
End of year
2014: 512k
2015: 545k
2016: 606k
2017: 689k
2018: 702k
2019: 827k
2020: 934k
2021: 1021k
2022: 915k (Bad individual tech stock holdings tanked)
2023: 1162k
current: 1355k
User avatar
Darth Xanadu
Posts: 1122
Joined: Sat Jan 27, 2018 12:47 am
Location: MA

Re: Share your net worth progression

Post by Darth Xanadu »

Terrific progress by so many Bogleheads! Inspiration abounds...

It's only been a couple of years since I've tracked "net worth" so I'll list our (joint) "investable assets" instead, as of year end:

2015: $586k (married the prior year)
2016: $651k
2017: $815k (first kid born)
2018: $880k
2019: $1.24M (2nd kid born, sold condo)
2020: $1.55M
2021: $1.79M (purchased long-term home)
2022: $1.68M (ouch!)
2023: $2.15M
2024: $2.55M (YTD)

Will keep slogging away, hoping to call it in the next 5-10 years!

Thanks,
DX
JS-Elcano
Posts: 1063
Joined: Wed Jun 10, 2020 7:29 pm

Re: Share your net worth progression

Post by JS-Elcano »

angelescrest wrote: Wed Jul 10, 2024 6:26 pm
JS-Elcano wrote: Mon Jul 08, 2024 10:24 pm
snackdog wrote: Thu Jul 04, 2024 8:04 am Mid year update with 2022-2024 results from 417 responses (only shows those who included their age in post), in millions of USD net worth:

age count p10 p50 p90
20s 35 0.1 0.2 1.0
30s 180 0.3 0.9 2.8
40s 155 0.8 2.4 7.2
50s 37 1.0 4.0 12.3
60s 10 1.4 3.7 9.8

Median age of respondents is 39 years and median NW $1.5 million.

We still have a real droop in responses above age 50. Need more!
Age: 50s

1999 -- -$500 (started first job fresh out of grad school)
2000 -- $2k (estimate)
2001 -- $4k (estimate)
2002 -- $7k
2003 -- $21k
2004 -- $33k
2005 -- $29k
2006 -- $52k
2007 -- $75k
2008 -- $93k
2009 -- $53k
2010 -- $39k
2011 -- $73k
2012 -- $119k
2013 -- $191k
2014 -- $247k
2015 -- $283k
2016 -- $347k
2017 -- $426k
2018 -- $485k
2019 -- $655k
2020 -- $827k
2021 -- $1,122k
2022 -- $1,152k
2023 -- $1,411k
2024 YTD -- 1,584k
Well done, I always appreciate when you post an update. 👏
Thank you! :sharebeer

Slowly but surely saving my way to retirement on a W2 job and maxing out everything I have access to. 30% of this year's gain so far are my contributions, so savings help a lot pushing my portfolio higher.

In 2022, my contributions offset my losses, and my portfolio was pretty much flat that year, which felt good considering the steep declines that year.

I started a projection in 2018 and I am 4 years ahead of where I thought I would be in 2024. That feels good, but I also know that a crash at any time could knock me back a couple of years.
User avatar
Lawrence of Suburbia
Posts: 776
Joined: Mon Aug 08, 2022 12:04 pm

Re: Share your net worth progression

Post by Lawrence of Suburbia »

wunwun1 wrote: Wed Jul 10, 2024 5:00 pm
Lawrence of Suburbia wrote: Wed Jul 10, 2024 4:37 pm
wunwun1 wrote: Wed Jul 10, 2024 7:31 am
Lawrence of Suburbia wrote: Tue Jul 09, 2024 5:35 pm Age 70, retired at 65. Zero net worth at age 30 (apart from guitars and a rusted-out 1975 Toyota Celica. I miss that car!)

Net worth (portfolio & studio flat),
$575,000 & $325,000

Worked as a musician much of my life (i.e., mostly destitute with occasional brief periods of accidental prosperity); last 20 years of my working life, made little more than Seattle minimum wage (year I retired, I made $16/hour) as a lab courier. Have to pull $7-8k out of my portfolio every year, makes me nervous seeing it increase due to inflation; but what can you do? ...

I'll never be a millionaire.

But I'm incredibly grateful for everything, every day, all day.
I think you are underspending. You can do better if you convert part of your asset, say 400k, to SPIA.

$400k income in 1 month at 70 years old
Male: $34,824/year
Female: $33,384/year
https://www.immediateannuities.com/

That will leave you $175k and the condo for incidentals.
Believe me, as someone who adores guaranteed income (along with S.S. I've got $500/month income from a SPIA), that sounds very tempting save one issue: inflation. Most of the conventional CFP wisdom seems to suggest leaving a majority in stocks/mutual funds to keep up with increasing cost of living. I've also heard that insurance companies are very reluctant to let clients put more than 50% of their savings into SPIA's (a legal liability issue? I'm not clear on that).

I do plan on converting my TIAA Traditional to a SPIA at age 73 (to elude RMDs), which will get me another ~$500/month. But further SPIA purchases will depend (at least in part) upon how serious the U.S. government is on keeping inflation in check.
... at least spend 4% of your portfolio, which is a little over $20k/year. I really think you have more room to spend if you want.
Thanks for the encouragement! Seriously.

I'm actually living a pretty plush life ... by my modest standards (material needs are few). I've been retired not quite six years, and in the back of my mind is staying financially flexible in case a bad sequence of returns coupled with inflation occurs (think 1966-1982). But I'm also mentally planning a possible extended trip through India, Bhutan and Nepal that will be deluxe and spendy, possibly two years from now.
VTHRX/DODWX/TIAA Traditional
peterwantstosave
Posts: 519
Joined: Fri Nov 24, 2017 7:28 pm

Re: Share your net worth progression

Post by peterwantstosave »

Dec 21, 2017

$10,000 Emergency Fund
$27,000 Retirement (S&P 500 Index Funds)
$5,000 Hard Assets (Bonds, Gold, Silver)
$1,000 Vanguard STAR Fund (Taxable Brokerage Account)
$110,000 Home

$153,000 (or so) net worth

Aug 8, 2023

$25,000 Emergency Fund
$142,000 Retirement (403b & IRAs)
$0 Hard Assets
$30,000 (100% FSKAX) Taxable Brokerage Acct
$20,000 State Retirement
$140,000 House

$360,000 (or so) net worth.

July 10, 2024

$25,000 Emergency Fund
$210,812.32 Retirement (403b, IRAs & HSA)
$0 Hard Assets
$33,111.34 Taxable Brokerage Acct.(100% Cash Eqv., JPST, ICSH, SGOV, TBIL ETFs, Fidelity Treasury Only MMF (FDLXX)) (Sinking Fund for Taxes and Maxing Out IRA & HSA)
$48,798.91 State Retirement (100% iShares 500 Idx)
$140,000 House

$456,000 (or so) net worth.

Onward, thank you Bogleheads!

Peter
Happy at Fidelity: FNILX/FXAIX/BSPIX
Pepper11
Posts: 231
Joined: Fri Jun 13, 2014 9:22 pm

Re: Share your net worth progression

Post by Pepper11 »

Are any of the multimillionaires in this thread retiring?
User avatar
Darth Xanadu
Posts: 1122
Joined: Sat Jan 27, 2018 12:47 am
Location: MA

Re: Share your net worth progression

Post by Darth Xanadu »

Pepper11 wrote: Wed Jul 10, 2024 8:53 pm Are any of the multimillionaires in this thread retiring?
I would like to, but my family expenses are too high to do so. It would require a drastic lifestyle change, which would also involve uprooting my young children.
Jimsad
Posts: 972
Joined: Mon Mar 20, 2017 5:54 pm

Re: Share your net worth progression

Post by Jimsad »

Pepper11 wrote: Wed Jul 10, 2024 8:53 pm Are any of the multimillionaires in this thread retiring?
Don’t think so as they may not want to give up their bragging rights !
moneybags
Posts: 68
Joined: Wed Jul 13, 2011 4:55 am

Re: Share your net worth progression

Post by moneybags »

Net worth is shared with spouse, as of Jan 1 of each year:
2010: -20K (Loans, Graduated University)
2011: <0
2012: <0
2013: 0
2014: 20k (Married)
2015: 40k
2016: 55k (Single Income -> Dual Income)
2017: 160k
2018: 290k
2019: 470k
2020: 756k
2021: 1.28M
2022: 1.79M
2023: 1.58M
2024: 2.02M
TimmyD
Posts: 6
Joined: Tue Mar 21, 2023 11:18 am

Re: Share your net worth progression

Post by TimmyD »

2023 saw a 28% year over year growth rate. So far in 2024 we are at a mid-year point of 18% YTD growth. Hoping to end the year in the range of 20-25% year over year NW growth.
User avatar
ranger3
Posts: 38
Joined: Wed Jul 14, 2021 9:21 pm
Location: Great Lakes

Re: Share your net worth progression

Post by ranger3 »

ranger3 wrote: Sat Dec 30, 2023 7:33 am
Married, 28/28 in MCOL - plugging away. Both nice raises this year and finally convinced DW to max out her 403(b). Planning for children in the near future, so anticipating we won’t be able to shovel as much into the accounts as we have been able to over the last two years or so. I’m hoping that by front-loading things now, we’ll be comfortable later in life without needing to save as aggressively.

Year | Age | Net Worth | HHI

2020 Q4 | 24 | $200,000 | $125,000
2021 Q4 | 25 | $295,000 | $133,000
2022 Q4 | 26 | $425,000 | $165,000
2023 Q4 | 27 | $625,000 | $224,000
2024 Q2 | 28 | $750,000 | $255,000
Go Bills
wunwun1
Posts: 121
Joined: Fri May 24, 2024 7:47 am

Re: Share your net worth progression

Post by wunwun1 »

moneybags wrote: Thu Jul 11, 2024 1:44 pm Net worth is shared with spouse, as of Jan 1 of each year:
2010: -20K (Loans, Graduated University)
2011: <0
2012: <0
2013: 0
2014: 20k (Married)
2015: 40k
2016: 55k (Single Income -> Dual Income)
2017: 160k
2018: 290k
2019: 470k
2020: 756k
2021: 1.28M
2022: 1.79M
2023: 1.58M
2024: 2.02M
Impressive growth. Are you aiming to retire early?
moneybags
Posts: 68
Joined: Wed Jul 13, 2011 4:55 am

Re: Share your net worth progression

Post by moneybags »

wunwun1 wrote: Thu Jul 11, 2024 5:33 pm
moneybags wrote: Thu Jul 11, 2024 1:44 pm Net worth is shared with spouse, as of Jan 1 of each year:
2010: -20K (Loans, Graduated University)
2011: <0
2012: <0
2013: 0
2014: 20k (Married)
2015: 40k
2016: 55k (Single Income -> Dual Income)
2017: 160k
2018: 290k
2019: 470k
2020: 756k
2021: 1.28M
2022: 1.79M
2023: 1.58M
2024: 2.02M
Impressive growth. Are you aiming to retire early?
Yes very much so. The goal/amount keeps getting pushed as our living expenses creep up but tentatively targeting 3-3.5M in the next 3-5 years
e5116
Posts: 875
Joined: Mon Oct 05, 2009 11:22 am

Re: Share your net worth progression

Post by e5116 »

Triple digit golfer wrote: Wed Jul 10, 2024 7:44 am
Triple digit golfer wrote: Fri May 10, 2024 9:10 am
Triple digit golfer wrote: Mon Jan 29, 2024 8:01 am
Triple digit golfer wrote: Sat Jan 01, 2022 7:47 am We're 36, married couple with a child. Last 5 years net worth at 12/31:

2017: $658k
2018: $672k
2019: $873k
2020: $1,098k
2021: $1,404k
We're now 38 years old.

2017: $658k
2018: $672k
2019: $873k
2020: $1,098k
2021: $1,404k
2022: $1,288k
2023: $1,586k
We're up to about $1,725-1,750k net worth, but a recent milestone reached is $1,500k between investment and savings accounts. In other words, our investment portfolio topped $1,500k for the first time. The other $225-250k is home equity, 529 plan, and a conservative amount included for our cars.
Roughly $1,840k net worth today at age 39, though I'm fully aware that it could be cut in half in the blink of an eye. The odd thing is, if you'd have told me ten years ago that I'd be married and we'd have a net worth of $1.84 million, I'd have thought we'd feel a little different. I don't feel any different or any richer than I did then. We don't spend any more money (other than maybe due to inflation in recent years), don't drive nicer cars, don't go on any different types of vacations or live in a fancy house. Our neighbors very likely think we're struggling like they are, taking out loans for windows and dental work. We drive less expensive cars than almost all of them. I'm okay with and actually prefer that perception.

I wonder at what level of net worth I'll feel different. I assume that I'll never get there. Now, my priority is securing retirement and covering our daughter's education, both of which are obviously on a great track. After that, maybe my priority will be a cushion for potential long term care. After that, maybe a cushion for our daughter. My mindset is and probably always will be that there is always something to save for. It's just how I'm wired. I doubt I'd feel rich with a $5 or $10 million net worth. I always said I'd retire at 25x expenses, but I assume that as long as I'm able to work, I'll at least do something for some income because there's always something to save for or something that might come up. Can't re-wire my brain!
I'm in a similar situation to you at about same age/net worth. For me, my major fixed expenses and spending has remained the same (well actually gone done now that my kids are out of daycare/preschool!). I think the change to me is psychologically I feel okay spending money on things that before I was still doing but felt more angst at the time like a nice dinner out or travel. One key for me is we bought a house we could afford at the time and our salaries have since grown and we've stayed in place even though we could afford a lot more.

I've also been big on travel, and likely do spend a bit more on travel now with the kids because it's important to my family to have those experiences. I still don't stay in luxury properties typically and try to maximize points/dollars but also am okay with a few nice splurges in there now. I did also get a (used) BMW when we needed a new car to replace the one I has since college that died but justified that in my head as it was the same price as the equivalent new Kia or Hyundai! (Those SUVs be expensive....but needed it with the fam).

So I haven't changed behavior much and don't feel all that different than I did several years ago, but I do think that I'm more willing to spend money on things that drive happiness for my family.

It's an interesting paradox though to some extent. People get wealthy by not spending money and then when they can spend more, they don't because they've so ingrained it in themselves to save. Gotta strike the balance that works for you! But you only live once. But I always have in my head about the power of compounding too so saving $100 now is worth a lot more later, ha!
wunwun1
Posts: 121
Joined: Fri May 24, 2024 7:47 am

Re: Share your net worth progression

Post by wunwun1 »

moneybags wrote: Thu Jul 11, 2024 11:06 pm
wunwun1 wrote: Thu Jul 11, 2024 5:33 pm
moneybags wrote: Thu Jul 11, 2024 1:44 pm Net worth is shared with spouse, as of Jan 1 of each year:
2010: -20K (Loans, Graduated University)
2011: <0
2012: <0
2013: 0
2014: 20k (Married)
2015: 40k
2016: 55k (Single Income -> Dual Income)
2017: 160k
2018: 290k
2019: 470k
2020: 756k
2021: 1.28M
2022: 1.79M
2023: 1.58M
2024: 2.02M
Impressive growth. Are you aiming to retire early?
Yes very much so. The goal/amount keeps getting pushed as our living expenses creep up but tentatively targeting 3-3.5M in the next 3-5 years
I would love to hear about your decision making process. From your net worth history, you seem to be a high earner in your 30s. If you believe 3.5m is enough to retire such a young age, you must have low household expenses and/or plan to live in a low cost area. Plus you are giving up high income, so you must not enjoy working very much. Fair characterization?

I am asking all these because we are in very similar net worth and work history (only one year ahead of you) and have a hard time relocating to a more desirable area, let alone calling it quits, by impacting our income. Thank you in advance for sharing!
tj
Posts: 10071
Joined: Wed Dec 23, 2009 11:10 pm

Re: Share your net worth progression

Post by tj »

wunwun1 wrote: Fri Jul 12, 2024 6:20 am
moneybags wrote: Thu Jul 11, 2024 11:06 pm
wunwun1 wrote: Thu Jul 11, 2024 5:33 pm
moneybags wrote: Thu Jul 11, 2024 1:44 pm Net worth is shared with spouse, as of Jan 1 of each year:
2010: -20K (Loans, Graduated University)
2011: <0
2012: <0
2013: 0
2014: 20k (Married)
2015: 40k
2016: 55k (Single Income -> Dual Income)
2017: 160k
2018: 290k
2019: 470k
2020: 756k
2021: 1.28M
2022: 1.79M
2023: 1.58M
2024: 2.02M
Impressive growth. Are you aiming to retire early?
Yes very much so. The goal/amount keeps getting pushed as our living expenses creep up but tentatively targeting 3-3.5M in the next 3-5 years
I would love to hear about your decision making process. From your net worth history, you seem to be a high earner in your 30s. If you believe 3.5m is enough to retire such a young age, you must have low household expenses and/or plan to live in a low cost area. Plus you are giving up high income, so you must not enjoy working very much. Fair characterization?

I am asking all these because we are in very similar net worth and work history (only one year ahead of you) and have a hard time relocating to a more desirable area, let alone calling it quits, by impacting our income. Thank you in advance for sharing!
3.5M for low expenses?!? I would have thought $1M for low expenses...
wunwun1
Posts: 121
Joined: Fri May 24, 2024 7:47 am

Re: Share your net worth progression

Post by wunwun1 »

tj wrote: Fri Jul 12, 2024 9:46 am
wunwun1 wrote: Fri Jul 12, 2024 6:20 am
moneybags wrote: Thu Jul 11, 2024 11:06 pm
wunwun1 wrote: Thu Jul 11, 2024 5:33 pm
moneybags wrote: Thu Jul 11, 2024 1:44 pm Net worth is shared with spouse, as of Jan 1 of each year:
2010: -20K (Loans, Graduated University)
2011: <0
2012: <0
2013: 0
2014: 20k (Married)
2015: 40k
2016: 55k (Single Income -> Dual Income)
2017: 160k
2018: 290k
2019: 470k
2020: 756k
2021: 1.28M
2022: 1.79M
2023: 1.58M
2024: 2.02M
Impressive growth. Are you aiming to retire early?
Yes very much so. The goal/amount keeps getting pushed as our living expenses creep up but tentatively targeting 3-3.5M in the next 3-5 years
I would love to hear about your decision making process. From your net worth history, you seem to be a high earner in your 30s. If you believe 3.5m is enough to retire such a young age, you must have low household expenses and/or plan to live in a low cost area. Plus you are giving up high income, so you must not enjoy working very much. Fair characterization?

I am asking all these because we are in very similar net worth and work history (only one year ahead of you) and have a hard time relocating to a more desirable area, let alone calling it quits, by impacting our income. Thank you in advance for sharing!
3.5M for low expenses?!? I would have thought $1M for low expenses...
1/ Expenses are highly correlated with income. They definitely have high income (from looking at how fast they accumulate their wealth).
2/ Withdrawal rates (from the 3.5m) are highly dependent on the expected number.of years in retirement. I think they are in their 30s, max early 40s, so they are looking at 50+ years of retirement income.
moneybags
Posts: 68
Joined: Wed Jul 13, 2011 4:55 am

Re: Share your net worth progression

Post by moneybags »

wunwun1 wrote: Fri Jul 12, 2024 6:20 am I would love to hear about your decision making process. From your net worth history, you seem to be a high earner in your 30s. If you believe 3.5m is enough to retire such a young age, you must have low household expenses and/or plan to live in a low cost area. Plus you are giving up high income, so you must not enjoy working very much. Fair characterization?

I am asking all these because we are in very similar net worth and work history (only one year ahead of you) and have a hard time relocating to a more desirable area, let alone calling it quits, by impacting our income. Thank you in advance for sharing!

We are late 30s/early 40s. Our HHI is about 550K and our annual spend is about 140K in a VHCOL with 1 kid. However our plan is to retire abroad on 100-120K. We don't hate our jobs at all, just a bit bored and wish we could spend more time doing what we love.

Part of it is that we have been on the early retirement track for almost 10 years now and our goal amount and annual spend keeps increasing. At some point, we do need to say enough is enough but it is hard when each one more year will increase net worth by 10% (new contributions + not drawing down).

It's unfortunate that in our industry, there's little options to work PT any make anywhere close to what we make on an hourly basis ($150+). I've been thinking about what kind of small business I could operate remotely and maybe make $40k/year as that would help a lot but haven't figured it out. Ideas welcome!

Id love to meet others in similar boats, if you happen to live in the Bay area, feel free to PM me!
case_of_ennui
Posts: 322
Joined: Mon Aug 17, 2020 5:07 pm
Location: Montana

Re: Share your net worth progression

Post by case_of_ennui »

Image


I replaced the Y axis with multiple of current yearly expenses instead of $ amount.

I started tracking in Google Sheets when I joined this forum and update the number weekly. I'm 36, single, and renting in a MCOL area. 80/20 3-fund with 25% equities in Intl. and a small REIT allocation in Roth. Pretty crazy to me what the markets have returned since late October of last year.

Bring on the next dip!
stay.the.course
Posts: 34
Joined: Thu Apr 04, 2024 4:29 am

Re: Share your net worth progression

Post by stay.the.course »

Jimsad wrote: Wed Jul 10, 2024 4:13 pm
stay.the.course wrote: Tue Jul 09, 2024 9:41 am
if i take a guess (based on 2018-2019 numbers on later) - this BH has a big shovel- at bare minimum $200k+ annually being invested into portfolio (assumption his/her based on some 80-90% equities based mostly on S&P500)
Dear Sc9182, you are exactly right.
we started the cash balance plan in 2020 and super funded it in 2020, 2021 and 2022 and 2023.
I am sure we benefited from both dips in 2020 and 2022.
[/quote]
Are you 100% stock funds in cash balance plan too ?
Are you the only one in cash balance plan or do you have employees in it too?
[/quote]

No. That’s being professionally managed. I think that they have bonds, cash and others.

I am the only person in the cash balance plan
Jimsad
Posts: 972
Joined: Mon Mar 20, 2017 5:54 pm

Re: Share your net worth progression

Post by Jimsad »

stay.the.course wrote: Sun Jul 14, 2024 6:12 am
Jimsad wrote: Wed Jul 10, 2024 4:13 pm
stay.the.course wrote: Tue Jul 09, 2024 9:41 am
if i take a guess (based on 2018-2019 numbers on later) - this BH has a big shovel- at bare minimum $200k+ annually being invested into portfolio (assumption his/her based on some 80-90% equities based mostly on S&P500)
Dear Sc9182, you are exactly right.
we started the cash balance plan in 2020 and super funded it in 2020, 2021 and 2022 and 2023.
I am sure we benefited from both dips in 2020 and 2022.
Are you 100% stock funds in cash balance plan too ?
Are you the only one in cash balance plan or do you have employees in it too?
[/quote]

No. That’s being professionally managed. I think that they have bonds, cash and others.

I am the only person in the cash balance plan
[/quote]
I had cash balance plan with employees from 2017 to 2023
It forced me to be more conservative than I would have liked to be and I ran into overfunding problems with huge potential penalties
I was happy to finally get rid of it which was a tricky process in itself
I now feel I would have been better off without it
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