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What a crazy time for us. We're now 31 and 32 and our NW is $2.4M. Paid off the mortgage late last month and now have no debt. We're extremely fortunate and attribute most of this growth to family assistance, with a gift made for estate planning purposes. I wake up some days and just think about how fortunate we are. Our goal is (very) early retirement so I can pursue my true passion/interest in working or volunteering for a nonprofit.
I agree that base pay is only 15-25% higher. However, have you looked at RSU's vs what you could get in Arkansas? This often makes up 50% of total compensation or more. Until recently, these type of jobs weren't that plentiful outside of the Bay Area, and when they were it was only in a few select markets (Austin, Seattle, etc.). Might be different now with more employer receptiveness to remote working post COVID.
I would also say that we got lucky and bought our first townhouse in the valley in 2010. We took the equity we earned in 2014 to buy a nice home. I think it would be a lot harder starting out right now here in the Bay Area, unless you have a large amount for a down payment.
Well, We'll find out. I'm in the matching phase with FB for a senior quant ux research scientist role. Also, very possible that next week I'll be in the matching phase for FB for a lead data scientist role as well as I just finished the final round of interviewing for that role late last week.
What a crazy time for us. We're now 31 and 32 and our NW is $2.4M. Paid off the mortgage late last month and now have no debt. We're extremely fortunate and attribute most of this growth to family assistance, with a gift made for estate planning purposes. I wake up some days and just think about how fortunate we are. Our goal is (very) early retirement so I can pursue my true passion/interest in working or volunteering for a nonprofit.
Congratulations! That is an impressive accomplishment for such a young couple.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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We are 68 & 69 planning to retire next year or the year after. Not counting our home equity of about $800k, we have about $100k in our 401K and 457 accounts, which we will use as "fun money" for vacations, eating out and other entertainment. Our living expenses will be from both of our pensions and social security. We are planning to sell the house and buy in a less expensive area with smaller house, pay off any other bills, and retain a few hundred thousand of the sale in savings.
#25 - comment only
#64 - 2/16/17 - $835k (hoped to be a millionaire by 40!)
#74 - 6/11/18 - $1.19mm (not yet 40!)
#86 - 3/25/19 - $1.41mm
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Older stuff:
I guess I'll update now at page #101(?) 9/10/19 - $1.47mm
Our momentum has definitely slowed down. We are only minimally investing in the market right now with all available cash going towards our mortgage's remaining balance of $239k. Next month we get about $40k in stock awards. We are hoping to end 2019 with a mortgage balance of $145k.
It sucks paying this thing off, but it's the only way to get my husband to stop whining.
It maybe premature to talk about some of this, but a lot of it is legally certain so I'm willing to put it down here:
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More old stuff
I had made a post last summer about my father-in-law's will.. it had us inheriting $2.5mm in the form of cash, commercial property and a family business...
But guess what? He never signed the will!
Everything resorts to a will he signed in 2012. Nobody is happy with the arrangement and the siblings are trying to figure out their options. The will doesn't even include my father-in-law's dutiful wife of 10 years... lame!
Legally we are to receive cash and residential property, specifically my husband's large childhood home in Mexico City and a cliff-side vacation home in Acapulco. The asset assignment changed, but distribution didn't so I think the value still comes out to $2mm+.
In addition... My mother also passed and we are working on her estate as well. My sister and I have determined her net worth was $1.8mm.
I'm not quite willing to make the claims just yet.. our net worth is still $1.5mm, but we are truly in a transitional time.
I think when the dust settles (within the next 18 months) our net worth will land between $4 and $4.5mm.
Our lives are already significantly impacted. The situation of having either parent die would have been a game changer for us.
Life as I knew it before 2020 is over.
Last update
My last net worth calculation was done on the 10/30/2020 and it is $1,940,239. Supposedly my share of mom's taxable is coming this week and that will add ~$80k. Also, this is too conservative as I'm not including the market values of the properties, but what I think I would make after paying for real estate agents, fees and taxes. I'm probably off by $100k. So let's say it's something like $2.2mm.
Good news: Mom's estate should be finishing up with probate in the coming months. My sister has been transparent through the process and I am waging that I WILL actually get another $400k from mom's estate when it settles.
This is EXCELLENT news as we have college educations coming up real fast...
Bad news: My father-in-law's estate became a utter sh1tsh0w. There is a lawsuit from the wife of two years saying that my sister-in-law intentionally hid the unsigned will the night before my father-in-law passed away. My husband and his brother are preparing their own lawsuits against their sister. She is obstructing the process for one... and today my husband signed documents to obtain ancilliary to the executor here in the States so they can find out if they need to start another lawsuit of fraud. It's possible that my sister-in-law stole (or is trying to steal) $1mm. Everything hinges on answering two questions: Survivorship and beneficiaries. My husband has to be recognized as ancilliary to the executor to ask these two questions.... I really think it could go either way, but I'm leaning towards her lying and fraud based on her actions these last few months.
I don't know what we will end up with from my father-in-law's estate. The only part of the estate regarding my husband NOT contested is a home in Acapulco. I have no clue what it is worth, but I would be happy to have the value of it and renovate our little homestead bungalow we recently bought...
TODAY
Net worth: $2.16mm
As you can see, we've not gone up much. My BIG mistake: I bought a rundown hobby farm, put tens of thousands into it and now I'm going to try to sell it later this month. It's not the kind of property that will fly off the shelf either. We can sell it for a loss. Still a seller's market.
Inheritance news:
Mom's: Still waiting to exit probate. I'm tired of saying "it should be soon". F- if I know. Maybe it will never come. Maybe my sister is di(king me around and instead of giving me my half she's building an awesome addition to her home.
Father-in-law's: SCORCHED. EARTH... It's VERY, VERY bad. Brothers are about two weeks away from burning it all to the ground. Business is currently functioning outside of the law and in order to fix it there will need to be a dissolution of a partnership, but the partners will not agree to it. So that leaves the brother-in-law no choice but to fire every single employee and give them a severance package and then start over, which won't be possible... because the partners won't agree to it. It's an actual Mexican standoff!
Additionally there are already 3 lawsuits against the sister-in-law. She has one against my brother-in-law. There will likely be more from the employee union and business partners as the S hits the F, but I'm not sure which direction they will go. My sister-in-law is the legal representative and administrator for the business so I'm assuming they will go against her, but... you never know! Team of ten lawyers. Talking to my husband earlier today he says it's like the Matrix and the bullets have been shot already but everything is in slow motion. Unfortunately it's not like in the movie where you can do really cool tricks to avoid the fallout.
There will be nothing when this is over (in ten years).
Nada.
I'm pretty broken ya'll. I nearly took a bunch of drugs and walked into the lake the other day. I really hurt my kids. I refused to talk to them (anyone) the whole day. NOTHING is okay right now.
Actual numbers are discussed all the time on many financial forums …..the most popular being the early retirement forum created by the firecalc creator .
No problems at all ever discussing people’s actual numbers .
Actual numbers determine the input they get and the various course of actions posters chime in with .
Sure anyone can lie but they better have a good memory if they are regular posters because eventually things won’t make sense as they lose track .
When we did our thing with money magazine our info was up their on the cnn website for a decade exposed to millions , not to mention millions who got the magazine back then as well as millions more who saw us interviewed in fidelity’s investment magazine since they saw we used all fidelity funds in the money magazine article and thought it was good publicity for their own publication .
At the end of the day Having that info up there and out there was much ado about nuttin.
But these other forums have that info posted for help , not just how much ya got so it is very different and far more in context then like here…
But From a posting it stand point where appropriate , meh no big deal
Last edited by mathjak107; 07-13-2021 at 02:42 PM..
Don't you guys think that's too much info to post on public forum?
Also - on the Internet everyone can be a millionaire
Yes, it is. There is a lack of appropriate caution in this forum that I find concerning. There is really no such thing as anonymity on the internet. Post accordingly.
Don't you guys think that's too much info to post on public forum?
Also - on the Internet everyone can be a millionaire
What are your personal concerns?
I've been posting for about 10 years and I have yet to have any issues arise from CD. Nobody really cares. Other people's posts is entertainment. My posts are cathartic.
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