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am sitting on just shy of 6 figures at the moment in liquid cash
just trying to get myself the courage to write the checks to pay off my $14k in student loans and will clear out all my debts besides my mortgage.
then need to figure out what i want to do next since i've basically checked all the boxes, pay off debt, built emergency fund, maxing 401k, etc. since i am so young, my mortgage is 1.5 years old and a starter home, not sure how motivated i should be to pay that off early vs. investing some of this.
Last edited by stargirl007; 04-17-2016 at 02:49 PM..
I stopped playing the local big games a few years ago as well . My net worth has increased significantly since then but I miss the days of 5k being average walk around money in case I got that phone call. Or the cage extending me 10k in credit.
I miss playing as well but I was afraid of other issues because of the crowd I was playing with. I will still hit up a casino but that action has died down
To me, the question "What is the most money you've ever had?" is not looking for answers in an "accurate accounting, net worth" kind of way.
So from a more emotionally-driven perspective, there are 2 times that stand out in my memory as "wow! That's a lot of money!"
1) When I first started college I had some scholarships that didn't kick in right away, and I had to use all of my savings/investments/gifts given to me by my great-parents (basically my entire college fund) to pay for the first semester. The money was transferred to my checking account, and I remember almost fainting as I wrote the check to the bursars office. I feel anxiety now just thinking about it! And that was close to 20 years ago
2) Once, my husband got a huge, unexpected, six-figure bonus. His boss called while we were on vacation, said "wanted to thank you for a great job, and don't want you to think there's been a mistake when your paycheck direct deposits tonight." My husband woke me up in the hotel room that night to show me when the money hit our bank account We just laid there and stared at it. I kept looking from our personal info. Yep correct. To the account number. Yep. To the balance? What, what?! That can't be right!! It was pretty awesome.
A few years ago, I had a confluence of a good year at work, capital gains on stock, my wife had a good year, etc....I ended up writing a personal check to the IRS for over $60K. That hurt.
I used to work at a bank, so I've seen and handled hundreds and hundreds of thousands of dollars. I've seen several million dollar checks as well.
But me, personally, the most cash I had on hand (not counting my retirement) was around $10K when I was frugal in my very early 20s. Things went downhill from there.
Now I'm 30 and I'm this close to being debt-free and then I'll be saving for an emergency fund of six months expenses.
Live and learn. I never want to be in debt again (mortgage being the only exception in the very far future).
Aged 32 here.. most I've had is right now, $40K in a bank account. I have about double that in retirement accounts. My car is paid off this December, so the gains will accelerate.
I suppose that for a minute or maybe only a millisecond I had over half a million at the closing when I sold my last house and before the wire transfers when out to pay off that mortgage, to put down 40% on my new place, etc.
If anyone had told me 50 years ago when I was making $1.10 an hour working part time at my first job while in high school that I'd EVER have that sort of money I'd think they were lying.
Stocks yes, retirement no because you can't touch it.
Why can't you touch retirement? I can touch all my contributions to my Roth IRA penalty free at any point.
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We just laid there and stared at it. I kept looking from our personal info. Yep correct. To the account number. Yep. To the balance? What, what?! That can't be right!! It was pretty awesome.
