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Since that last posting in 2021 our family grew from 2 kids to 3.
Virginia
43
$145k annually
$1.68m
(62% retirement/investment accounts
33% real estate equity
4% cash or equivalent)
Brokerage is higher, but TSP is still catching up to previous amount. Housing value has definitely increased. I'm tentatively scheduled for mid August to sell a house I co-own with my brother so by next update those ratios will definitely change.
I'm holding more cash since I'm banking the money I used to pay off the house faster. Mortgage is 1.875% on 40k, but ally is paying 4% so I'm making more in interest than paying in mortgage. If interested rates drop, I'll just use that to pay off the house since I'm already on track to pay it off 2025 anyways.
Since this thread got bumped I'll update from a few months ago. The house got sold and with the proceeds I just paid off the mortgage that was less than 40k. So I'm now completely debt free! Too bad the market isn't cooperating and the value of my retirement and investment accounts have dropped. I'm heavily weighed in equities because of my age and my high risk tolerance.
43
$145k annual salary
$1.53m net worth
(65% retirement/investment accounts
28% real estate equity
7% cash or equivalent)
How things change! I like updating from past posts. Below was the last in the thread in summer of 2021. I'm a year into a new job and have access to stocks, an ESPP, and bonus for the first time. I also a
Age: 35, female, rent in the Boston metro area
Income: 175K salary, ~30K bonus, 84K RSUs that vest over 3 years (first 1/3 vests next year)
Net worth: $278K
I have not made as much of gains as I'd like despite this big increase in salary because I had to move for the job (and pay first/last/broker's fee/security on a more expensive apartment and hire movers) and spent a very expensive last year with my elderly cat before he passed. With housing cost increases and current interest rates, home ownership and having kids is still a few years off - daycare and rent on a 2 bedroom alone is most of my take home income even with my current salary! But I feel like I've made some big moves.
Quote:
Originally Posted by charolastra00
I recently got a raise, so I'm taking stock and figuring out how to best position myself to buy my first home.
Age: 33, rent in the Boston metro area
Income: 100K (as of this week)
Net worth: 150K, with 70% in retirement and <5% in crypto. Company match has been re-instituted as of this month after more than a year on pause, which will more than double my retirement contributions from last year. Still no debt.
Unfortunately, the expected family gift for a down payment did not come through, which is disappointing especially as I've watched properties in towns and condo complexes that I've had my eye on skyrocket 10-15% in just the past few months. I may still be a few years off from my dream of homeownership.
I'm coming up on my 10 year "cancerversary" to when I ended treatment for stage IV cancer. I note that because at the time, I was maxed out on my credit cards, unable to fill all my Rxes because of cost, and going to a food bank thanks to the high cost of treatment even when insured and working full time. I couldn't have imagined then how much of a difference putting away even 5% for retirement and $25 a week into savings would snowball. I'm still far behind where I'd like to be, but by busting my tuches and a lot of good luck, my net worth has more than quadrupaled and my salary has doubled in 5 years. If you're looking at some of the huge numbers here and feel discouraged, keep making the best choices you are afforded and on the balance, it tends to trend upward.
Just redid our calculations.
Fayetteville, AR
33, 31, & 1
Income: $160k, up significantly over the past 2 years.
NW: Just crossed the $430k threshold.
Quote:
Originally Posted by mizzourah2006
Update about a year later:
Income is up to ~$225k, NW as of May 30th was $593k.
Quote:
Originally Posted by mizzourah2006
About another year later.
Age: 35 & 33.
2 kids now 3.5 and 1.5.
Income ~$235k + ~$20k+/yr in private equity.
NW as of May 30th was $732k
Quote:
Originally Posted by mizzourah2006
Age 37 & 35
kids 5 and 2.5
Income ~ $275k + ~$20k+/yr in private equity
NW as of end of October: 1.15 million
Looks like it's been about 3 years since I've updated. Still in Arkansas.
40 & 38
Kids: 8 & 6
Income: ~$380k
NW: 1.85 million
Started with a NW of about $80k about 11 years ago right after I finished grad school, PhD programs don't really pay much, but at least they also don't cost anything out of pocket.
Reading these posts is depressing, it makes me realize how much I don't have.
I'm right there with you. Too many dumb financial decisions in my 20s and part of my 30s led to where I am now. All that matters is whether your situation is improving. Luckily I can look back at where I was a few years ago and see that I'm on the right track (and improving quickly!).
28, MA, HHI is $171k. NW is $135k. I only count my house at cost though so probably a little understated.
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