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I'm 27 and my wife is 25. I graduated in 2007 with about $200 to my name and $27k left in student loans (paid for some with a job in college). She graduated without student loans in 2009 thanks to scholarships and working jobs. No kids. No loans/debt other than our mortgage payment today since I paid off my student loans and our cars were bought cash. I work as an engineer and she does multiple things (degrees in English and Education).
Right now our net worth is about $260k. $150k of that is in our 401ks and Roth IRAs that we max each year. $30k of that is in taxable mutual funds that are long-term/"retirement" accounts (retirement to us but not official tax-deferred retirement accounts). $60k in "cash" (money markets, CDs, savings accounts) and the other $20k is home equity.
We live fairly frugally but also live to have fun and enjoy life. It's tough finding that balance. Since we are both making good salaries and are young we are trying to save and invest as much as we can now since who knows what will happen farther down the line. A lot of our friends in a similar situation seem to spend, spend, spend.
(sorry for the double post. deleted the duplicate)
Last edited by Sunbather; 10-09-2012 at 06:41 AM..
My wife (35) and I (29) are big savers. So about 260K in investments*, 350K retirement (401k, TSP and IRAs), 40K checkings/savings, ~100K house equity (420 - 307 - selling costs), and then about 55K in student loans between us. So that's around 700K net.
HHI is 220K now, but our average since graduating college has been about 110 for me, 65 for her.
* We inherited 100K from her grandfather which was nice, but we used 10K for home improvements. That's the only family money except for maybe 10K my dad had initially put into my Roth IRA when I was in college.
I hope my wife doesn't read this - she's still 34, not 35 yet! Oooops!
I'm 27 and my wife is 25. I graduated in 2007 with about $200 to my name and $27k left in student loans (paid for some with a job in college). She graduated without student loans in 2009 thanks to scholarships and working jobs. No kids. No loans/debt other than our mortgage payment today since I paid off my student loans and our cars were bought cash. I work as an engineer and she does multiple things (degrees in English and Education).
Right now our net worth is about $260k. $150k of that is in our 401ks and Roth IRAs that we max each year. $30k of that is in taxable mutual funds that are long-term/"retirement" accounts (retirement to us but not official tax-deferred retirement accounts). $60k in "cash" (money markets, CDs, savings accounts) and the other $20k is home equity.
We live fairly frugally but also live to have fun and enjoy life. It's tough finding that balance. Since we are both making good salaries and are young we are trying to save and invest as much as we can now since who knows what will happen farther down the line. A lot of our friends in a similar situation seem to spend, spend, spend.
(sorry for the double post. deleted the duplicate)
It is good that you guys can still manage to save and not cave to the peer pressure to party and buy extravagant stuff.
I'm 27 and my wife is 25. I graduated in 2007 with about $200 to my name and $27k left in student loans (paid for some with a job in college). She graduated without student loans in 2009 thanks to scholarships and working jobs. No kids. No loans/debt other than our mortgage payment today since I paid off my student loans and our cars were bought cash. I work as an engineer and she does multiple things (degrees in English and Education).
Right now our net worth is about $260k. $150k of that is in our 401ks and Roth IRAs that we max each year. $30k of that is in taxable mutual funds that are long-term/"retirement" accounts (retirement to us but not official tax-deferred retirement accounts). $60k in "cash" (money markets, CDs, savings accounts) and the other $20k is home equity.
We live fairly frugally but also live to have fun and enjoy life. It's tough finding that balance. Since we are both making good salaries and are young we are trying to save and invest as much as we can now since who knows what will happen farther down the line. A lot of our friends in a similar situation seem to spend, spend, spend.
(sorry for the double post. deleted the duplicate)
If you plan to have kids you will be able to adjust to the cost and change of live a child brings much easier than they will.
No, I said I waited tables through college, something I enjoyed doing
I have always been expected to work and pull my share, see you're assuming that if someone has money they sit on their tail, I work very hard and have worked hard all my life and that has made me a better person.
What’s wrong with working?
Actually, most of the people I know were/are go getters... not one to sit around and as my Grandmother would say... they always have a couple of irons in the fire.
I started paying into Social Security at age 12 when I made $50 a week... $20 went to the bank, 20 to Mom and Dad and about $4.75 withholding and what was left was mine...
Each day I would walk about 10 blocks to the local burger joint and buy a shake and Burger for $1
What I don't understand is the 20 somethings I continue to meet that have never earned a single dollar... how is this possible?
Actually, most of the people I know were/are go getters... not one to sit around and as my Grandmother would say... they always have a couple of irons in the fire.
I started paying into Social Security at age 12 when I made $50 a week... $20 went to the bank, 20 to Mom and Dad and about $4.75 withholding and what was left was mine...
Each day I would walk about 10 blocks to the local burger joint and buy a shake and Burger for $1
What I don't understand is the 20 somethings I continue to meet that have never earned a single dollar... how is this possible?
31 years old. Married. No kids yet.
125k cash/CD/MMK
125k 401k
15k stocks
311k equity on primary home
-30k equity on rental property
55k paid off cars
Total Net: ~596,000
tempting to just liquidate it all and go live on a tiny Polynesian island like gods! :-D
a man after my own heart. keep it up.
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