Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Chicago IL
35
~$200k household income including bonuses
$375k NW
Quote:
Originally Posted by numberfive
Chicago IL
36
~$175k household income including bonuses*
$492k NW
Quote:
Originally Posted by numberfive
Nashville TN
37
~$190k household income including bonuses
$581k NW
Quote:
Originally Posted by numberfive
Nashville TN
38
~$190k household income including bonuses
$621k NW
Quote:
Originally Posted by numberfive
Nashville TN
39
~$190k household income
$719k NW
Nashville TN
40
~$200k household income
$851k NW
This year's reflections: it's been 5 years already? Wow time flies. In the first post @ 35 I was predicting a $1MM net worth at 40. Welp that didn't happen. Might be my wife's drop to part time at 36, our spending, different stock allocations, who knows. Probably doesn't matter much in the long run, just a data point as we're all looking at how everybody is doing over the years.
Everyone else here seems to be doing a MUCH better job saving than us, so kudos to all of you! I don't mind though, we're all overachievers here so to be the least overachieving among you is still a good place to be.
$565,000 - primary residence estimated value
-120,000 - primary residence mortgage balance
$190,000 - second home estimated value (no mortgage)
Total: $1,421,500
Comments: while I look at our account balances and I am extremely militant about tracking my own, I've never tracked our total net worth before. My husband needs to contribute more to his retirement accounts, and he will be with his 401(k) at his new position. I am going to school right now (MBA) so I can't really afford to contribute more to my Roth 401(k) than I already am (15%) but I know I need to. I started from nowhere when I finished college, so I'm really proud of my balances, even though they seem kind of low. I knew nothing about finances except I did know that saving was important. My husband grew up very fortunate, which is evident in his net worth and our ability to purchase our home in the mid-2010s which has appreciated considerably since then.
This is a strange thread. Not so sure I feel like revealing all that much info on the interweb, why would I? I'll just say I'm 56 and my net worth is around $800,000. It helps to own a house free and clear. Yeah, do that.
Iâ€m with Dave. We’re 67 and 64 and retired living in California.
Income from pension: 35K + 2000 in Social Security
Portfolio is $1M
Savings is way way north of that.
No mortgage. No debt.
NW is enough for a comfortable life.
CA - SF Bay Area
Age 44
Household income - ~$600k (this has more than doubled in the past 5 years)
Net worth - ~$2M (about $1.3-1.4M in retirement and taxable investments and the remaining in home equity)
With our sharp income rise, our expenses have been relatively flat, so we're saving a ton (this year, we've contributed about $200k into retirement + taxable investments, in addition to $20k for our two kids' 529 plans). The problem is that our income has gone up so fast that the retirement calculators show us as behind. However, if we can continue living below our means and saving a ton, we'd like to be able to retire early, by our late 50s (or at least have options to do what we want).
Might not be much to some, but considering that 7 years ago I was making 35K a year and staring down a net worth of -35K thanks to cancer, it's huge for me. When I realized that I hit that milestone, I cried for about 2 days. I might even take my first *real* vacation away since college!
Note: I generally don't count my vehicle in my net worth, but I like the psychological boost here.
Moral of the story: if you're in a rough patch, even a prolonged rough patch, it can get better. Make compound interest work for you. I'd like my retirement savings to be more, but they're pretty good given how little money I made for so many years because I consistently put at least 13% away and increased that a little bit with every raise.
Posted the above about a year ago when my net worth crossed 100K.
Currently:
Age: 32 year old woman. 32 year old partner's income not considered because it's variable (he owns a small business) and he has significant law school debt
Income: 80K, professional career with a master's degree. My MBA (paid for through tuition remission) is on pause due to my current pandemic workload
Net Worth: 128K, with 70% of that in retirement. No debt.
I am anticipating a family gift of $50K to go toward a house downpayment this year as well.
Growth this year was slowed by retirement matching cut at work and no salary increase this year, paired with a pretty dramatic increase in rent, some high medical costs, and huge utility bills from working from home.
While it seems nuts to do in a pandemic and global economic crisis, I am very actively applying for jobs in lower cost of living areas. One of the biggest hindrances for to building wealth is renting, and rent on a 1 bedroom apartment an hour from work is almost double what I could pay for PITI, even with potential condo fees, for a 3 bed/2 bath in Atlanta, where I'm from originally. My budget of $300,000 gets me a 2 bed/1 bath condo even further from work and in a not-too-great building/town here in Massachusetts, and I'm not sure how I feel about committing to that lifestyle when I could have a shorter commute and a much nicer home for less elsewhere... if I can find a job, that is! I'm hoping that remote work encourages employers to consider people who are willing to relocate themselves.
I dunno.. I just spent 20 minutes trying to find all of mine. I might not have gotten all of them and apparently I didn't give my NW until #64.
#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
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.
Quote:
Originally Posted by JakeinChina
And out of the 4 people who recently posted to this thread and shared how your net worth grew by so much, how many of you voted for Trump or decided a change was necessary for whatever reason and went Biden?
Not to get all political or that I think Trump is solely responsible for the excellent economy we've had the past few years. Just thought it would be interesting to hear from you.
Congrats on your wealth!
My husband was in his last semester of a five year PhD program in January 2009 and landed his first post-grad position that March... 2 months after Obama took office... our net worth has been on an upward trajectory for nearly 12 years so I don't see a reason to single out, and get political with, the last three years.
Maybe you aren't posting about your wealth because you've been too busy attaching personal finance to politics instead of practicing it? Just a thought....
And out of the 4 people who recently posted to this thread and shared how your net worth grew by so much, how many of you voted for Trump or decided a change was necessary for whatever reason and went Biden?
Not to get all political or that I think Trump is solely responsible for the excellent economy we've had the past few years. Just thought it would be interesting to hear from you.
Congrats on your wealth!
My net worth has increased considerably over the Trump years, though that has everything to do with my own career development.
But 4 more years of Trump would likely mean financial disaster to me, particularly around his battle against the ACA as a cancer survivor.
Universal healthcare is my top priority for building wealth. If I hadn't spent my entire 20s buried under debt from cancer even while insured, my wealth would be far greater both due to the compound interest of putting all of that money into property or investment, as well as being able to take more risks with regard to employment without having to worry about losing access to health insurance. A moderate increase in taxation to cover healthcare for all would still result in a net increase for me and millions of other Americans.
Texas
Ages 44 and 45, 3 kids
Household income- around $300K including bonus (one salary- income has risen significantly over the past several years)
Only debt is mortgage
Net Worth approx $1.45 million
Age: 50
HH Income: $60,000
Net Worth: ~$625,000
Location: San Jose, CA
I'm single & a renter, so no home equity. Income is a little high this year because I will get an extra paycheck because of the way the payroll calendar falls. 60k will be the most I've ever made.
My general net worth trajectory:
Age 26: -$14,000
Age 35: $100,000
Age 41: $200,000
Age 43: $300,000
Age 46: $400,000
Age 48: $500,000
Age 50: $600,000
Most of it is because I was a save-a-holic, especially from age 26 to 35, not because I got amazing investment returns.
I have had parental gifts, but never more than $1200 a year. They almost always go toward savings and investments.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
3.5 and 1.5. 
