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Arizona. 42. Wife is 33. Combined HH Income was about $225k including investments/dividends (it was a good year).
Net Worth: $91k
We gained a lot this year given we finally hit a $0 net worth towards the beginning of this year after being negative for years before that (lots of student loan debt, etc.). Wife and mine combined income went up $55k plus good growth in investments. Paid down lots of student loan debt and gained a fair amount of equity in two properties (one our primary residence and one is an investment property we bought back in August).
I expect to hit $200k net worth by end of this year barring no major market collapse.
A year and a half later since I posted in here last and it's been...tumultuous...
Colorado. 43. Wife is 34. Combined HH Income about $160k estimated salary income this year. $120k me and rest from my wife.
Net worth: $70k (ouch)
2020 was a rough year. I got laid off early last year (COVID) and then we moved to a new state so wife has been rebuilding her business in a new locale. We also separated for a while last year after the move to CO which meant two separate places to pay for and maintain, which added even more expenses. I was out of work for ~ 6 months so that ate into savings and investments for sure. I got a new job a few months back and it's been great so far. A little less money than I was making in my previous gig but way more flexibility and less stress. Wife and I are back together now and moving forward... here's hoping 2021 and beyond is much better.
A year and a half later since I posted in here last and it's been...tumultuous...
Colorado. 43. Wife is 34. Combined HH Income about $160k estimated salary income this year. $120k me and rest from my wife.
Net worth: $70k (ouch)
2020 was a rough year. I got laid off early last year (COVID) and then we moved to a new state so wife has been rebuilding her business in a new locale. We also separated for a while last year after the move to CO which meant two separate places to pay for and maintain, which added even more expenses. I was out of work for ~ 6 months so that ate into savings and investments for sure. I got a new job a few months back and it's been great so far. A little less money than I was making in my previous gig but way more flexibility and less stress. Wife and I are back together now and moving forward... here's hoping 2021 and beyond is much better.
I'm so sorry for that stress. Best of luck pushing 2020 far back in the past as possible.
Net worth is total assets minus total liabilities. Why the definition gets messed with is boggling. As pointed out home equity isn’t part of the equation as it’s not an assets. Assets - liabilities = net worth or shockingly your total equity
It also reaches a point when you hit retirement or are close to retirement that there is no distinction as to what is for retirement vs just your nest egg in total.
We have nothing called retirement savings ..it is all just one big portfolio that supports us or will support us
We recently realized that we have over 1 million in investable assets in TSP, Roth and traditional IRA as well as brokerage accounts.
Only debt is our home at 74k and should be paid off in approximately 4 years.
41/working with a 37 SAHM.
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How much do you have in total retirement savings & how old are you?
