Share your net worth progression

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
boston10
Posts: 46
Joined: Sun Aug 21, 2016 9:44 am

Re: Share your net worth progression

Post by boston10 »

The last 5 years have been pretty good...

1/2015 (age 25): in debt
7/2015 (age 26): $5k
1/2016 (age 26): $11k
7/2016 (age 27): $45k
1/2017 (age 27): $73k (purchased home)
7/2017 (age 28): $90k
1/2018 (age 28): $103k
7/2018 (age 29): $91k (employment gap)
1/2019 (age 29): $115k
7/2019 (age 30): $134k
zeal
Posts: 246
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Re: Share your net worth progression

Post by zeal »

Very fun reading through this topic, thank you all for sharing. Here are my year-end numbers with notes pertaining to what happened each year. I began tracking at 22, turned 30 this year.

2011: ($31k) Senior year of college in fall. Blown away upon realization of debt, discovered Dave Ramsey. Found part-time job in Sept making $9/hr, 20hrs/wk to pummel student loans.
2012: ($12k) Moved to full-time once graduated. Finished year at $11/hr, 45-55hrs/wk (business was good, boss offered as much overtime as I wanted). Biked to work from cheapest 2BR apartment I could find ($800/mo), ate any free food whenever available... lived as below my means as possible. Eggs, milk, bread, peanut butter, jelly... pretty much the only things I bought the entire year aside from rent. Got roommates a few times to save more, but all but one rarely paid so that didn't last long. This was the year I decided I'm too trusting to ever be a landlord :) removed physical rental property investment from my future plans!
2013: ($9k) Bought first home for $94k (3.5% down), quickly realized that mortgage<rent doesn't mean you'll save money.
2014: ($7k) Scraped by for another year, still making less than $13/hr and learning the ins and outs of homeownership.
2015: $16k Got married and took on a second job in July, wife began her career as a teacher. Felt like we were rich, finished the year with ~$80k income after the past few years of living off $20-30k income. First began contributing to our work-sponsored retirement plans.
2016: $24k Dropped first job to go back to a 40hrs/wk schedule with second job (career). Paid off the last $2k of student loans I'd kept around for a couple years after Dave Ramseying the first ~$30k. Stopped paying as close attention to finances, focused my time on new wife and new career.
2017: $58k Same as previous year; not much financial attention.
2018: $115k Same until December when we decided to upgrade to a new home and I discovered Bogleheads (<3). Sold our home and bought our current one.
Current: $140k Opened Roth IRAs earlier this year and we are $2500 shy of fully-funded for 2018/2019. We are adjusting to life in a larger home and trying to optimize savings automation--we're both happy in our careers and have ~$80k household income. Not including match or her pension, we save ~20% of it. Excited to keep tracking the progression and see if my projections of 1mil in our 40's is correct!
Last edited by zeal on Thu Sep 05, 2019 7:20 pm, edited 1 time in total.
scottr08
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Re: Share your net worth progression

Post by scottr08 »

Started first ROTH IRA in 2012 the month I graduated undergrad.

2013 - no records for this year, but worked full time at entry level job

2014 - Retirement accounts: $15,000
Student Loans: $19,000
Total: -$4,000
Notes: Was in the Peace Corps

2015 - Retirement accounts: $20,000
Student Loans: $18,000
Total: $2,000
Notes: Was in the Peace Corps

2016 - Retirement accounts: $20,000
Student Loans: $17,000
Total: $3,000
Notes: Grad school full time

2017 - Retirement accounts: $27,000
Student Loans: $18,000
Total: $3,000
Notes: Grad school full time

2018 - Retirement accounts: $45,000
Student Loans: $36,000
Total: $9,000
Notes: Grad school full time (took out loans)

2019 (today) - Retirement accounts: $53,000
Student Loans: $33,000
Total: $20,000
Notes: Full-time entry/mid level job with federal government
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abuss368
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Re: Share your net worth progression

Post by abuss368 »

In my opinion this thread is one fo the best on the forum.
John C. Bogle: “Simplicity is the master key to financial success."
Morik
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Re: Share your networth progression

Post by Morik »

Morik wrote: Mon Jun 15, 2015 11:19 am 1) Parents paid for college (no debt). (I did work during college, but just for spending money; they covered rent, food, tuition, books, etc). This is a huge boost to early wealth. (And I realize I had nothing to do with it.)

2) Parents helped with first house purchase to the tune of $250k (~half up front, ~half over 10 years)

3) I work in a high salary industry

4) Max out tax advantaged space annually. (Currently saving $92k/year tax-advantaged)

5) Would be better off with lower expenses... balance sheet is barely positive (but that is after all the tax-advantaged savings).

Current total savings: ~750k (250k taxable (earmarked for non-retirement stuff), 500k retirement)
Age: we are both 33
To update this:

Spouse & I are 37 now.
We had a $500k house in 2015. We sold it for ~$550k (after commissions, and got ~$250k after paying off the mortgage) and put that towards a new house, along with the money from the taxable account we had saved up.

New house is $1.1m, and we also spent around $200k on renovations.
Mortgage is a 15 year (13 to go, have refinanced but shaved time off the new one to keep maturity the same), ~$565k outstanding.

We have ~$1.1m in tax-advantaged accounts (a little over half is pre-tax, the rest roth).
Have ~$230k in cash ($125k earmarked for further renovations), $80k in ibonds (emergency fund).


I didn't post how much cash I had on hand in 2015, but we had a $60k emergency fund and probably ~40-60k in cash. The house was worth ~$500k and our mortgage had ~$350k outstanding.

So June 2015 (time of that quoted post) net worth was roughly $1.1m

Jan 2017 was ~$1.4m according to a post of mine I found from then.

2019 (adding $50k to house value as a conservative estimate of the $200k renovations to date if we were to sell): ~$2m
($1.15m house + $230k cash + $80k ibonds + $1.1m retirement accounts - $565k mortgage)

A lot of the increase is market returns on our tax-advantaged accounts.

We plan to stay in our current house forever--it is in a pretty good location (basically perfect for us in most ways, though my commute could be better).
Startingover2019
Posts: 64
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Re: Share your story of how you got wealthy

Post by Startingover2019 »

M_to_the_G wrote: Fri Jun 14, 2019 6:10 am
welsie wrote: Thu Jun 13, 2019 6:01 pm
InvestInLife wrote: Thu Jun 13, 2019 9:41 am
Professor Emeritus wrote: Tue May 13, 2014 10:17 am 1) marry the right partner
I disagree. There is no way to know if your partner will remain financially sound, and the odds are against you. Past performance is no indicator of future results. It is almost like saying make sure if you’re buying individual stocks to buy one that will go up. Instead, I view marriage as an increased risk of suffering a windfall loss, particularly if you are a high earner.
If you view marriage as an increased risk of suffering a windfall loss, then you didn't follow the instructions.

Also, why are the odds against you? Most people's earnings increase over time: https://taxfoundation.org/average-income-age/

Therefore, while it is possible there could be a reversal of fortunes, on average, that is not true. So I wouldn't say the odds are particularly bad.
See Bob's post here (bolding for emphasis is mine):
hicabob wrote: Tue May 13, 2014 11:03 am I became reasonably wealthy 3 times - lost it twice.

First time - got some nice stock options from a startup, invested heavily in tech - got "wealthy" but back to earth after 2k tech crash

Second time - very well paying job, saved religiously and real estate did well - job disappeared and got divorced (minus 50% hit) so back to earth

Third time - started small biz, it did very well. I became a boglehead type investor, sold the company for a nice lump and so far so good.

I don't want to repeat the cycle again!
I'd call a 50% hit a windfall loss. As I've understood things, that's the way things typically go. If ever she decides she's done with the relationship, she can lawyer up and leave with 50% of everything you have, plus your car, plus your house, plus your kids, and even your dog... and maybe even a contract from the court that mandates you to pay for her living expenses for years to come... and maybe even 50% of your pension decades later. I understand that things are changing, that this type of thing can happen to a woman, too (especially if she is the earner in the couple), that it depends on which state you get divorced in, etc., etc.

Okay, so all that said, I actually buy the concept that marrying the right partner is one of the most important financial decisions a person can make. I can't dispute that the research proves it, and, IIRC, it's even one of the main points made by Stanley and Danko in their research on American millionaires. But maybe you -- or others here -- can given us younger gents the magic formula to find "the right partner." Lots of bad eggs in the dating market. Add to that the risks outlined above, and marriage just doesn't look that attractive in this day and age. Besides... why take on a "full-timer" who can eventually leave you and take half of your stuff forever... when you can go with freelancers and part-timers with no such risk? :mrgreen: :mrgreen:
It’s not always the men who get taken. Please realize that times have changed and plenty of households are headed by higher earning women. Who when they get divorced get taken to the cleaners as well.

Ain’t right either way and divorce law is a windfall for a lot of users. But it ain’t always “she” asking for a divorce and taking “him” to the cleaners.
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LadyGeek
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Re: Share your net worth progression

Post by LadyGeek »

An off-topic post regarding relationship compatibility has been removed. Please stay on-topic, which are the financial aspects.
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mnsportsgeek
Posts: 384
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Re: Share your net worth progression

Post by mnsportsgeek »

Jan 2014 - $0
Jan 2015 - Unknown
Jan 2016 - Unknown
Jan 2017 - $150k
Jan 2018 - $178k
Jan 2019 - $341k
Last edited by mnsportsgeek on Wed Jun 10, 2020 7:20 am, edited 1 time in total.
capran
Posts: 195
Joined: Thu Feb 18, 2016 10:45 am

Re: Share your net worth progression

Post by capran »

Doubt I would be considered a Boglehead, but I am what I am.

70-74- enlisted and served in USAF
worked and went to school on GI Bill, BA in 77 and MS in 79 in counseling
in 86 quit mental health and sailed the Bahamas for 6 months, then came back and got certified for School system, and started my School career.
By 1988 paid off first house and had investments of 46,200
Paid off houses along the way, and in 93 moved where we are now, which took us 4 years to pay off, but it's on an acre with a nearly year round creek and lovely meadow.
By December 2000 portfolio was at 406,517.
Two years later ended year at 274,385 after heeding the buy and hold method.
By the end of 2007 had 983,850 and started to move to cash, sensing that things were overpriced.
By the end of 2008 was at 923,806 and moving back in to the market.
2010 was at 1,398917
2011= 1,571,004
2012= 1,738717
2013= 1,874,997 retired that September
2014= 1,882799 and went to mostly cash. Hind sight is 20-20, and who would have known the market would keep going, but we really just didn't want to accept the risk any more, so have mostly cash and bonds.
2019 We have cash assets of 2,032,000 and MAGI income of 167,000 a year. (2 pensions, 1 social security. will add a second SS in a few years)) and 5k in tax free bond income, and 10k in simple interest. We've been converting about 80k a year into Roth and expect RMDs will be about 34k in 5 years. I did a spreadsheet a while back with our IRA's and figure we can maintain the 165k income up through age 115. We don't really spend all our income, maybe 80k plus taxes. Live on a sailboat 2 months of the year. Rent a condo in Mexico for 2 months in the winter and do a month long land travel in the fall, concentrating in Utah, and northern Arizona. thinking about 2021 in Costa Rica instead of Mexico to switch it up. That's my story.
Last edited by capran on Sun Oct 27, 2019 5:07 pm, edited 1 time in total.
Liveware Problem
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Joined: Sun Nov 27, 2016 12:33 pm

Re: Share your net worth progression

Post by Liveware Problem »

Taxable household net worth, includes house, excludes car.

Used current date's currency NOK to USD. NOK is historically weak compared to USD now, however quite a lot of our index funds are in foreign currency anyway so I guess it evens out.

End of Year 2014 - 6161K NOK ($670K) - Start of tracking some time after discovering FI, MMM and Bogleheads
End of Year 2015 - 7008K NOK ($762K) - Savings and investment growth
End of Year 2016 - 8258K NOK ($898K) - Downsized house, savings and investment growth
End of Year 2017 - 9042K NOK ($983K) - Savings and investment growth
End of Year 2018 - 8578K NOK ($932K) - What happened - savings growth, investments declined, bought almost new car since our old one was spent, decided to increase liabilities to include ongoing support for adult kids through higher education / investment schooling for the next few years.
To Date 2019 - 9960K NOK ($1083K) - Closing in on the Norwegian version of $1M (10MNOK). A combination of savings, windfall, increased valuations and weakening currency from EOY 2018. I believe we have achieved financial security (warning: jinx), see https://www.getrichslowly.org/stages-of ... l-freedom/.

The numbers hide something important: our net value minus house has near quadrupled over this five year period.

The biggest contributors to increasing net worth:
1. Savings
2. Investments
3. Lifestyle changes, smart choices
4. Windfalls

Age 47, engineers
equiv-tech
uwbadgers
Posts: 83
Joined: Mon Aug 25, 2014 3:36 pm

Re: Share your net worth progression

Post by uwbadgers »

Posted here in this thread about 2 years ago so thought I’d take a closer look at things.


2013---227k Kid 1, bought house 1
2014---302k
2015---411k Kid 2
2016---546k
2017---702k sold house 1 (large profit), bought house 2
2018—790k
2019—838k

Big win for us, thanks to some wage increase, is maxing out a 401k and 2 ROTH’s (only have 401k offered for wife, not me).

Another fun win for us was this year we bought 2 new cars (both were used one year old). We had been driving 10 and 14 year old, paid off cars but were running into maintenance issues. Paid one car in cash and while have a 19k loan for other it’s reasonable at ~$375/month and we will pay ahead.

Have had some lifestyle creep over the last few years but spending vs net income still gives us on average about 2500 extra each month (we have fairly high variability in month to month incomes in our jobs). Going to Disneyworld (yikes!) in a month with the 4 and 5 year old but cash flowed and paid for trip over last year and have a surplus to spend while there.....heard we might need some :)

Half of NW is in paid off rental (value ~220k) and equity in current home (value ~600k, mortgage 425k). Selling rental in early 2020.

Retirement funds 408k.
Kids college savings 28k
997TRBO
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Re: Share your net worth progression

Post by 997TRBO »

Here is my journey:

1992: $2000 in bank with $13K in student loans. Started job as a chemical engineer in June.
Did not really know about investing till 1997. Fortunately, I did know to live below my means.

Married in 2000. Did not start tracking NW until 2005. Wife and I always maxed out 401K. When I did get into investing, I did make some good investments in some of the now big name tech stocks. The rest of invested in solid companies that paid good dividend and had growth.

2005: 1.3M
2006: 1.5M
2007:1.75M
2008: 1.6M
2009: 1.6M
2010: 2.0M
2011: 2.2M
2012: 2.7M
2013: 3.5M
2014: 4.1M
2015: 4.1M
2016: 4.5M
2017: 4.9M
2018: 5.8M

My career at work really started to takeoff in 2008 with a promotion that brings stock options as part of the compensation. My wife is a lawyer who works part time and we have saved/invested her entire take-home pay our whole marriage. The jump from 2010 onwards is due to coming out of the recession with a strong base in good stocks and investing more during the recession. The other factor is the big appreciation in the stock options from my company.. We invested in good companies like Home Depot and Apple during the recession which have had amazing returns. I am now shifting over to index and bond funds while managing/minimizing the tax consequences.
broncocountry25
Posts: 70
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Re: Share your net worth progression

Post by broncocountry25 »

2013 (Graduated): Basically zero, cash in an account and student loans from undergrad. Jumped in with a start up (non tech) didn't work got a corp job.
2014: 32K
2015: 97K
2016: 238K
2017: 359K
2018: 468K
2019: 604K

My strategy has been to live cheap but enjoy the simple pleasures. I am married so that is 2 incomes which is obviously a big difference maker. I think the biggest benefit is that I have options which I place a high value on. I am going to pivot my career path and get into something that is higher risk but more earning upside. Hopefully I don't shoot myself in the foot.

Wife and I both turn 30 this year. My advice to anyone starting your 20's is live cheap, have fun, house hack.

:sharebeer
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corn18
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Re: Share your net worth progression

Post by corn18 »

broncocountry25 wrote: Sat Nov 02, 2019 12:33 am 2013 (Graduated): Basically zero, cash in an account and student loans from undergrad. Jumped in with a start up (non tech) didn't work got a corp job.
2014: 32K
2015: 97K
2016: 238K
2017: 359K
2018: 468K
2019: 604K

My strategy has been to live cheap but enjoy the simple pleasures. I am married so that is 2 incomes which is obviously a big difference maker. I think the biggest benefit is that I have options which I place a high value on. I am going to pivot my career path and get into something that is higher risk but more earning upside. Hopefully I don't shoot myself in the foot.

Wife and I both turn 30 this year. My advice to anyone starting your 20's is live cheap, have fun, house hack.

:sharebeer
Awesome job! I wish I had your clarity and vision @ that age. I would be replying from my yacht right now, sipping champagne and telling Billy Ray that he is looking good.
Don't do something, just stand there!
financeguy88
Posts: 86
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Re: Share your net worth progression

Post by financeguy88 »

2006: -25k (graduated college, owed parents money for a car, got a job in investment banking)
2007: 75k (moved to a direct investing role, performed well)
2008: 250k
2009: 650k
2010: 700k (left a good role to help start a company, bad career move in hindsight)
2011: 725k
2012: 750k
2013: 1.1M (changed jobs again, re-joined a more stable, performed very well to date)
2014: 1.3M
2015: 2.2M
2016: 3.5M
2017: 5.5M
2018: 5.8M
present: ~6.7M

In my mid-30's now, I've had financial success by working hard / being competitive high achiever most of my life, as well as being lucky and finding a career in finance that I'm passionate about and good at, but that also pays a lot. Also I've cumulatively spent only about 11% of my pre-tax wage income and paid about 44% in income taxes, so saved about 45% of pre-tax income. I've also in my view made some big mistakes given the great opportunities I've been given, such as investing way too conservatively for many years, and leaving a very high paying job to do something more entrepreneurial. I would recommend my career path only to someone who is very passionate about finance and willing to do whatever it takes, as it is stressful / filled with a lot of uncertainty, and not as lucrative as it used to be.
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Abe
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Re: Share your net worth progression

Post by Abe »

capran wrote: Sun Oct 27, 2019 12:06 am Doubt I would be considered a Boglehead, but I am what I am.
capran: You're a Boglehead :beer
Slow and steady wins the race.
broncocountry25
Posts: 70
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Re: Share your net worth progression

Post by broncocountry25 »

corn18 wrote: Sat Nov 02, 2019 8:31 am
broncocountry25 wrote: Sat Nov 02, 2019 12:33 am 2013 (Graduated): Basically zero, cash in an account and student loans from undergrad. Jumped in with a start up (non tech) didn't work got a corp job.
2014: 32K
2015: 97K
2016: 238K
2017: 359K
2018: 468K
2019: 604K

My strategy has been to live cheap but enjoy the simple pleasures. I am married so that is 2 incomes which is obviously a big difference maker. I think the biggest benefit is that I have options which I place a high value on. I am going to pivot my career path and get into something that is higher risk but more earning upside. Hopefully I don't shoot myself in the foot.

Wife and I both turn 30 this year. My advice to anyone starting your 20's is live cheap, have fun, house hack.

:sharebeer
Awesome job! I wish I had your clarity and vision @ that age. I would be replying from my yacht right now, sipping champagne and telling Billy Ray that he is looking good.
Thanks, I think I was naturally wired because it feels more fun to me most of the time to think about this stuff then consume. Just happy to have options and choices living in a great place (Colorado). Have a good one!
financeguy88 wrote: Sat Nov 02, 2019 9:55 am 2006: -25k (graduated college, owed parents money for a car, got a job in investment banking)
2007: 75k (moved to a direct investing role, performed well)
2008: 250k
2009: 650k
2010: 700k (left a good role to help start a company, bad career move in hindsight)
2011: 725k
2012: 750k
2013: 1.1M (changed jobs again, re-joined a more stable, performed very well to date)
2014: 1.3M
2015: 2.2M
2016: 3.5M
2017: 5.5M
2018: 5.8M
present: ~6.7M

In my mid-30's now, I've had financial success by working hard / being competitive high achiever most of my life, as well as being lucky and finding a career in finance that I'm passionate about and good at, but that also pays a lot. Also I've cumulatively spent only about 11% of my pre-tax wage income and paid about 44% in income taxes, so saved about 45% of pre-tax income. I've also in my view made some big mistakes given the great opportunities I've been given, such as investing way too conservatively for many years, and leaving a very high paying job to do something more entrepreneurial. I would recommend my career path only to someone who is very passionate about finance and willing to do whatever it takes, as it is stressful / filled with a lot of uncertainty, and not as lucrative as it used to be.
Curious if you could expand on leaving your job to start the company? I am not starting a company but I am thinking of transitioning to selling high end real estate through a great mentor (working on his team). Seems like more upside but I am leaving the stable finance world (back office/middle office however not front office like yourself). I would echo that margins are being pinched overall in the industry.

Cheers
stoptothink
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Re: Share your net worth progression

Post by stoptothink »

corn18 wrote: Sat Nov 02, 2019 8:31 am
broncocountry25 wrote: Sat Nov 02, 2019 12:33 am 2013 (Graduated): Basically zero, cash in an account and student loans from undergrad. Jumped in with a start up (non tech) didn't work got a corp job.
2014: 32K
2015: 97K
2016: 238K
2017: 359K
2018: 468K
2019: 604K

My strategy has been to live cheap but enjoy the simple pleasures. I am married so that is 2 incomes which is obviously a big difference maker. I think the biggest benefit is that I have options which I place a high value on. I am going to pivot my career path and get into something that is higher risk but more earning upside. Hopefully I don't shoot myself in the foot.

Wife and I both turn 30 this year. My advice to anyone starting your 20's is live cheap, have fun, house hack.

:sharebeer
Awesome job! I wish I had your clarity and vision @ that age. I would be replying from my yacht right now, sipping champagne and telling Billy Ray that he is looking good.
+1. I basically had to start from nothing at age 30 after a divorce. 8yrs later we are just a little ahead of broncocountry. I love to see young(er) people with their head on straight.
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zaboomafoozarg
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Re: Share your net worth progression

Post by zaboomafoozarg »

Mine's a lot less than it should be.

- didn't take enough risks
- didn't change jobs often enough
- didn't move to a high-paying part of the US like SV
- didn't join a FAANG company

I think the only thing I have going for me is that I started investing relatively young, so time is on my side. Hopefully in 10 or 20 years it snowballs into a decent amount.
MHoffy
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Re: Share your net worth progression

Post by MHoffy »

Wife and I are fairly new to BH, but as of this month we're at 257K NW, ages 29 and 30. Maxing our pre-tax 401ks and saving for our 2 YO and 4 MO college some day, but not much else. Both in daycare limits the after tax investing we can do. Both of us are fairly sensible spenders. Hope to check back in a few years and see how far we've come. Very much appreciate this community and the insights/experience everyone has.
Elena
Posts: 387
Joined: Mon Nov 21, 2016 5:42 pm

Re: Share your net worth progression

Post by Elena »

I have not tracked my net worth until last Dec. I have tracked my spending since 2002. I started at a 40K salary in 2001, which has doubled but will never be higher. No debt, no mortgage. I have saved ca. 50% of my salary since 2005. My current savings rate is ca. 75%.

- Dec. 2018, 1,060,000.
- Nov. 2019, 1,320,000. This figure reflects $50,000 extra from moving to a smaller place last year.

56% of my net worth is pre-tax, and 44% is taxable.

I am short of 47 and would like to retire, but am scared of healthcare premiums, and of the fact that the market seems high. I can live on very little, but would like to have some disposable income to travel a bit. I have been in aggressive accumulation mode for a very long time.
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goodenyou
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Re: Share your net worth progression

Post by goodenyou »

It is interesting to see whether the progression slows with age and/or asset levels. That is, do investors de-risk by changing their asset allocation (more bonds) once they reach their "number". It doesn't appear that way from many of the posts I've read.

Started at -$100,000 in 1996. Got out of debt in 1998. Paid off house in 2011. Our net worth has climbed significantly over the last 8 years due to saving levels since my wife (previous SAH mom) re-entered the workforce into a highly-compensated position (after 15 years) with great benefits. We are fortunate to be able save her salary since we always lived and saved off mine. I have recently sold several commercial properties that I could never value due to the uncertainty of when and if they would sell. It has pushed us to a number that makes work unnecessary. Now I want to be a SAH dad since the kids are out of the house. :D One marriage is/was key.
"Ignorance more frequently begets confidence than does knowledge" | “Do you know how to make a rain dance work? Dance until it rains”
CJF
Posts: 40
Joined: Fri Aug 15, 2014 8:41 am

Re: Share your net worth progression

Post by CJF »

Net Worth since we(two people) got serious about our finances.
(Investments + house)
Year Total Saving Rate
2014: 69K 15%
2015: 83K 15%
2016: 97K 17%
2017: 130K 21%
2018: 154K 23%


We are hoping this year to be able to save, dollar amount wise, more than we did in years 2014-2016 combined.
2014 is the year we were fortunate to buy a home for nearly half price. We "froze" our budget at that point, and committed to saving every salary increase. We are hoping to be around 30% saving rate this year, although our only soft rule is to be at a minimum of whatever the previous year was. The least we've made in a year is 44k. The most is 72k.
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GeneralPerson
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Joined: Wed Sep 29, 2010 4:06 pm

Re: Share your net worth progression

Post by GeneralPerson »

zaboomafoozarg, I could have posted this verbatim and it would be all true.
zaboomafoozarg wrote: Sat Nov 02, 2019 11:56 am Mine's a lot less than it should be.

- didn't take enough risks
- didn't change jobs often enough
- didn't move to a high-paying part of the US like SV
- didn't join a FAANG company

I think the only thing I have going for me is that I started investing relatively young, so time is on my side. Hopefully in 10 or 20 years it snowballs into a decent amount.
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GeneralPerson
Posts: 65
Joined: Wed Sep 29, 2010 4:06 pm

Re: Share your net worth progression

Post by GeneralPerson »

Congratulations, CJF - nice progress year over year. Impressive savings rate.
CJF wrote: Sat Nov 02, 2019 5:08 pm Net Worth since we(two people) got serious about our finances.
(Investments + house)
Year Total Saving Rate
2014: 69K 15%
2015: 83K 15%
2016: 97K 17%
2017: 130K 21%
2018: 154K 23%


We are hoping this year to be able to save, dollar amount wise, more than we did in years 2014-2016 combined.
2014 is the year we were fortunate to buy a home for nearly half price. We "froze" our budget at that point, and committed to saving every salary increase. We are hoping to be around 30% saving rate this year, although our only soft rule is to be at a minimum of whatever the previous year was. The least we've made in a year is 44k. The most is 72k.
StoopieHippo
Posts: 102
Joined: Sat Sep 15, 2018 10:42 am
Location: Seattle, WA

Re: Share your net worth progression

Post by StoopieHippo »

We're kinda just starting to gain some traction... (property value not included)

January 2018: -$131,354 due to student loans
July 2018: -$21,427 due to student loans
January 2019: $45,907 (still paying down student loans...)
July 2019: $97,691 DONE with student loans!

Starting next year, DH and I will be maxing out two 401k, two IRAs (backdoor roths in our future!), and putting $1.5k/mo into taxable savings (combined gross income: $280k). Currently, we're paying a little extra on our condo mortgage (not included in above numbers), but that will stop come March 2020.

I feel like we started behind the 8 ball due to our student loans. We had a combined $330k between the two of us from grad school. We're finally out from under that though and now our only debt is the mortgage. As of today, we've over the $100k mark though not by much. I'm excited to see the ball start rolling...!
theplayer11
Posts: 1535
Joined: Tue Jul 22, 2014 8:55 pm

Re: Share your net worth progression

Post by theplayer11 »

Husband and wife small business owners. Never netted more than $170k. Funded 2 kids private college. Really started to hit retirement savings hard the last 3 years.
Retirement savings progression:
2008-$113.7K
2009-$191k
2010-$237.3k
2011-$223.6k
2012-$264.3k
2013-$356.3k
2014-$420.5k
2015-$489.4k
2016-$526.9k
2017-$679.2k
2018-$730.3k
2019-$960k
Last edited by theplayer11 on Sun Nov 03, 2019 7:00 am, edited 1 time in total.
ThreeBears
Posts: 163
Joined: Mon Nov 28, 2016 11:13 am

Re: Share your net worth progression

Post by ThreeBears »

Best post on the site?

I don't get most of the posts. Most posts are completed by people who say, "we started taking taking retirement seriously 3 years ago and now we almost have $1 million dollars." I just think people who post are filtered by those who have a good story.
Green Street
Posts: 108
Joined: Tue Jan 02, 2018 5:00 pm

Re: Share your net worth progression

Post by Green Street »

[/quote]
I think I’m close to your trajectory.
2010: 67k - Age 21
2011: 79k
2012: 103k
2013: 115k
2014: 129k
2015: 177k
2016: 261k
2017: 399k - age 28
[/quote]

Figured I’d update this
2019: 610k
The grind still isn’t fun. Hoping things move quicker and easier from here.
Searching Through The FiRE
User avatar
Cheese
Posts: 66
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Re: Share your net worth progression

Post by Cheese »

-mid 30's
-married with three kids
-single income in MCOL area
  • 2010: $60k
    2011: $72k
    2012: $147k [promotion]
    2013: $235k [market]
    2014: $317k [promotion]
    2015: $360k
    2016: $499k [market, company equity]
    2017: $622k [promotion, company equity]
    2018: $749k
    2019: $850k [higher role @ new company]
-income went from $100k in 2010 to $400k+ today (mix of luck (mostly), hard work, good timing)
-mortgage of $300k on $500k house
-retirement assets of $600k, $200k home equity, $50k cash
-pay down debt as fast as you can
-save 1/2 of all raises
-find a good partner who is on the same page fiscally
-LBYM but be generous to others
StoopieHippo
Posts: 102
Joined: Sat Sep 15, 2018 10:42 am
Location: Seattle, WA

Re: Share your net worth progression

Post by StoopieHippo »

ThreeBears wrote: Sat Nov 02, 2019 7:49 pm Best post on the site?

I don't get most of the posts. Most posts are completed by people who say, "we started taking taking retirement seriously 3 years ago and now we almost have $1 million dollars." I just think people who post are filtered by those who have a good story.
I guess I started taking retirement seriously ~6 years ago, when I just wanted to be done with student loans. Baby steps, right? To be fair, the market's been...wild. I guess my swing from negative to positive was pretty darn big, but I have to thank my 24 year old self who maxed out the 401k match in the beginning and then forgot about it...! :)

I think all progressions are interesting. Sure, it's a little crazy to see those $0 to $1mil in 5 years stories (and then I wonder where I went wrong in my plan...) and even more interesting to see the people with blips and bumps in their progression. I don't count my condo in my net worth (mostly cuz...I can't eat it...) but it seems most people add it into their NW. I wonder why my outlook is so different...? :T
financeguy88
Posts: 86
Joined: Thu Feb 23, 2017 3:58 pm

Re: Share your net worth progression

Post by financeguy88 »

broncocountry25 wrote: Sat Nov 02, 2019 10:58 am
corn18 wrote: Sat Nov 02, 2019 8:31 am
broncocountry25 wrote: Sat Nov 02, 2019 12:33 am 2013 (Graduated): Basically zero, cash in an account and student loans from undergrad. Jumped in with a start up (non tech) didn't work got a corp job.
2014: 32K
2015: 97K
2016: 238K
2017: 359K
2018: 468K
2019: 604K

My strategy has been to live cheap but enjoy the simple pleasures. I am married so that is 2 incomes which is obviously a big difference maker. I think the biggest benefit is that I have options which I place a high value on. I am going to pivot my career path and get into something that is higher risk but more earning upside. Hopefully I don't shoot myself in the foot.

Wife and I both turn 30 this year. My advice to anyone starting your 20's is live cheap, have fun, house hack.

:sharebeer
Awesome job! I wish I had your clarity and vision @ that age. I would be replying from my yacht right now, sipping champagne and telling Billy Ray that he is looking good.
Thanks, I think I was naturally wired because it feels more fun to me most of the time to think about this stuff then consume. Just happy to have options and choices living in a great place (Colorado). Have a good one!
financeguy88 wrote: Sat Nov 02, 2019 9:55 am 2006: -25k (graduated college, owed parents money for a car, got a job in investment banking)
2007: 75k (moved to a direct investing role, performed well)
2008: 250k
2009: 650k
2010: 700k (left a good role to help start a company, bad career move in hindsight)
2011: 725k
2012: 750k
2013: 1.1M (changed jobs again, re-joined a more stable, performed very well to date)
2014: 1.3M
2015: 2.2M
2016: 3.5M
2017: 5.5M
2018: 5.8M
present: ~6.7M

In my mid-30's now, I've had financial success by working hard / being competitive high achiever most of my life, as well as being lucky and finding a career in finance that I'm passionate about and good at, but that also pays a lot. Also I've cumulatively spent only about 11% of my pre-tax wage income and paid about 44% in income taxes, so saved about 45% of pre-tax income. I've also in my view made some big mistakes given the great opportunities I've been given, such as investing way too conservatively for many years, and leaving a very high paying job to do something more entrepreneurial. I would recommend my career path only to someone who is very passionate about finance and willing to do whatever it takes, as it is stressful / filled with a lot of uncertainty, and not as lucrative as it used to be.
Curious if you could expand on leaving your job to start the company? I am not starting a company but I am thinking of transitioning to selling high end real estate through a great mentor (working on his team). Seems like more upside but I am leaving the stable finance world (back office/middle office however not front office like yourself). I would echo that margins are being pinched overall in the industry.

Cheers
It is easy to underweight the benefits of working for a well-run organization especially when you're in you're early in your career, as you might eventually realize there are many terribly run organizations. The start-up life is very different from working for a big corporation. All that said your situation sounds less risky though if the organization already exists / is well run with a solid leader.
larry82
Posts: 92
Joined: Tue Nov 23, 2010 12:57 pm

Re: Share your net worth progression

Post by larry82 »

I am 38 years old small business owner (IT), 2 kids and a happy wife. I am only tracking my investment portfolio value, i dont keep track of house value, cars, etc.

Once i started earning good money i soon realised that the investment industry was a real minefield. I read a tons of bogleheads books and started investing on my own in your typical low cost bogleheads portfolio. I dont keep track of the exact number but i probably save 90% of my annual income.

I am currently living in Canada so this is in CAD.

2010 - $320,000 (29 years old)
2011 - $579,000
2012 - $1,221,000
2013 - $1,876,000
2014 - $2,307,000
2015 - $2,908,000
2016 - $3,861,000
2017 - $4,881,000
2018 - $5,376,000
2019 - $6,974,000 (YTD)

2019 was a good year, 800k YTD return and about the same amount saved (and invested).

Hope to reach 7M$ this year :)
unknownfuture
Posts: 47
Joined: Fri Feb 15, 2019 3:30 pm

Re: Share your net worth progression

Post by unknownfuture »

My net worth progress
2012: ~ -$50,000
2013: ~ $50,000
2017: ~$500,000
2019: ~$2,500,000
Last edited by unknownfuture on Thu Aug 20, 2020 10:55 pm, edited 5 times in total.
stoptothink
Posts: 9289
Joined: Fri Dec 31, 2010 9:53 am

Re: Share your net worth progression

Post by stoptothink »

unknownfuture wrote: Sun Nov 03, 2019 4:59 pm My net worth progress
2012: ~ -$50,000 (student debt)
2013: ~ $150,000 (Sold startup)
2017: ~$500,000 (Researcher at big corp)
2019: ~$2,500,000 (Researcher at big corp)

When I did a startup, I earned $200K in two years. As a researcher in industry, I make ~ 30x as much on a yearly basis, with much less stress, more freedom, and more happiness. After seeing some friends fail for years in trying to start a business, I now think that working for a company is generally a better idea than startup a business.
:shock: Every metric I have ever seen suggests that ~25% of those making 7-figures a year are "employees", the overwhelming majority of those in that sphere are business owners. I am very happy with my (low-6-figure) job, but you have to understand that your situation isn't the norm.
langlands
Posts: 1011
Joined: Wed Apr 03, 2019 10:05 pm

Re: Share your net worth progression

Post by langlands »

unknownFuture, are you an ML researcher by any chance? That is a rather incredible salary for any researcher, never mind a young one (it seems you graduated fairly recently?). You must have published some pretty amazing papers. I'm just curious because I thought those kinds of salaries only went to well established hot shot professors like Yann LeCun, Geoffrey Hinton, etc. The only researchers I can imagine in your age range (20's and 30's) making that kind of salary are people like Ian Goodfellow (head of AI at Apple) and a handful of others. In any case, I am extremely impressed.
HEDGEFUNDIE
Posts: 4801
Joined: Sun Oct 22, 2017 2:06 pm

Re: Share your net worth progression

Post by HEDGEFUNDIE »

unknownfuture wrote: Sun Nov 03, 2019 4:59 pm My net worth progress
2012: ~ -$50,000 (student debt)
2013: ~ $50,000 (Sold startup)
2017: ~$500,000 (Researcher at big corp)
2019: ~$2,500,000 (Researcher at big corp)

When I did a startup, I earned $50K per year, post tax. As a researcher in industry, I make ~ 30x as much on a yearly basis, with much less stress, more freedom, and more happiness. After seeing some friends fail for years in trying to start a business, I now think that working for a company is generally a better idea than starting a business.

EDIT: fixed one number, now everything is post tax
What kind of “research” pays $1.5M?
stoptothink
Posts: 9289
Joined: Fri Dec 31, 2010 9:53 am

Re: Share your net worth progression

Post by stoptothink »

HEDGEFUNDIE wrote: Sun Nov 03, 2019 6:18 pm
unknownfuture wrote: Sun Nov 03, 2019 4:59 pm My net worth progress
2012: ~ -$50,000 (student debt)
2013: ~ $50,000 (Sold startup)
2017: ~$500,000 (Researcher at big corp)
2019: ~$2,500,000 (Researcher at big corp)

When I did a startup, I earned $50K per year, post tax. As a researcher in industry, I make ~ 30x as much on a yearly basis, with much less stress, more freedom, and more happiness. After seeing some friends fail for years in trying to start a business, I now think that working for a company is generally a better idea than starting a business.

EDIT: fixed one number, now everything is post tax
What kind of “research” pays $1.5M?
+1. As one of 3 heads of "research" for a corporation with $4B+ in annual revenue, definitely not the type that I do.
larry82
Posts: 92
Joined: Tue Nov 23, 2010 12:57 pm

Re: Share your net worth progression

Post by larry82 »

larry82 wrote: Sun Nov 03, 2019 2:59 pmHope to reach 7M$ this year :)
achievement unlocked !
User avatar
InvestorNewb
Posts: 1655
Joined: Mon Sep 03, 2012 11:27 am

Re: Share your net worth progression

Post by InvestorNewb »

InvestorNewb wrote: Thu Jun 14, 2018 2:29 pm
InvestorNewb wrote: Wed Jun 14, 2017 3:01 pm Here are the amounts that I recall with a little story for each:

Age 22 - $30,000
I graduated university with $30k in savings. I was ahead of most of my peers because my parents paid for my schooling and I did not have to go into debt. After graduating, I spent the next few years working on my business that was already generating a small income of about $1k per month.

Age 26 - $100,000
My efforts proved to be valuable and the business saw an uphill trend in profit. I moved out of my parent's home late at age 26 with this amount saved. My mom was going to start charging my brother and I for rent (and rightfully so). We decided it was time to move out and we each got our own apartment.

Age 30 - $500,000
Between the ages of 26-30 my business had strong growth and I saved almost all of the profits. I was able to save the profits because I've been working a separate 9-5 job since the age of 24 to cover my expenses. I also use my day job as safety net in case the business goes to $0. The business began to see a downhill trend starting at age 30. At age 30, I also discovered this forum and invested most of my net worth into US stocks to compensate for the decline in active business income.

Age 33 - $900,000
By age 33, my account grew to $900k mostly due to the bull market and strong USD. I also save about 15k per year from my day job and put that into the market as well. I love saving and look forward to making contributions in my tax free/deferred accounts every year.

Age 34 (current) - $1,065,000
From the previous entry, the updated balance is mostly due to the continued bull market. I'm also working on revamping my business to make it profitable again. This isn't easy when I work 40 hours per week at my day job, but I'm squeezing time in on weekends to make it happen.
Wow - it's been exactly one year since I made the post above and I coincidentally happened to stumble upon it today. My update is below:

Age 35 (current) - $1,180,000
The updated balance is due to the continued bull market. It's amazing to see how money can grow when you save a lot of it and don't touch it. The project that I mentioned in my last entry is still in progress, but it is only 3 or 4 months away from completion. This year also marked a significant milestone in that after over a decade on contract in the public sector, I finally secured a permanent position with a pension. My job will continue to support my living expenses and I don't need to worry about being out of work or having to dip into my savings anymore.
Age 36 - $1,265,000
I'm slightly late updating this thread. I am now 37 and want to document my NW on here every year. I relaunched my business at age 36 after over three years in development. Things are very slow starting out but I'm confident that the persistence will pay off in a year or two. In terms of my career, I having been acting in a senior position for almost a year and hope that it will become a full-time position soon.
My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest)
jory1804
Posts: 37
Joined: Sat Dec 31, 2016 4:24 pm

Re: Share your net worth progression

Post by jory1804 »

larry82 wrote: Sun Nov 03, 2019 2:59 pm I am 38 years old small business owner (IT), 2 kids and a happy wife. I am only tracking my investment portfolio value, i dont keep track of house value, cars, etc.

Once i started earning good money i soon realised that the investment industry was a real minefield. I read a tons of bogleheads books and started investing on my own in your typical low cost bogleheads portfolio. I dont keep track of the exact number but i probably save 90% of my annual income.

I am currently living in Canada so this is in CAD.

2010 - $320,000 (29 years old)
2011 - $579,000
2012 - $1,221,000
2013 - $1,876,000
2014 - $2,307,000
2015 - $2,908,000
2016 - $3,861,000
2017 - $4,881,000
2018 - $5,376,000
2019 - $6,974,000 (YTD)

2019 was a good year, 800k YTD return and about the same amount saved (and invested).

Hope to reach 7M$ this year :)
This is impressive; great job!
Nathan Drake
Posts: 948
Joined: Mon Apr 11, 2011 12:28 am

Re: Share your net worth progression

Post by Nathan Drake »

This thread really is enlightening. Folks not recommending their career path because the money’s not as good as it used to, meanwhile they’re saving 1M+ per year and are well on their way to an 8 figure net worth barely over 10 years into their career.

Only on Bogleheads I suppose.

Few common threads if you want to be a 1%er - go into finance, sales, or start your own business. Not really possible in many other traditional fields.
rexhat
Posts: 68
Joined: Sat Jun 08, 2013 4:56 pm

Re: Share your net worth progression

Post by rexhat »

rexhat wrote: Thu Jun 13, 2019 9:52 am
rexhat wrote: Sun Jan 07, 2018 9:29 pm 2011 $-27k
2012 $8.9k
2013 $77.5k
2014 $102k
2015 $294k
2016 $610k
2017 $1,037k
2018 $1,214k
As of 1/1
2011 $-27k
2012 $8.9k
2013 $77.5k
2014 $102k
2015 $294k
2016 $610k
2017 $1,037k
bought a house
2018 $1,214k
2019 $1,463k
to date $1,683k
And the good times continue to date $2,006k
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abuss368
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Re: Share your net worth progression

Post by abuss368 »

Incredible thread.
John C. Bogle: “Simplicity is the master key to financial success."
student
Posts: 5421
Joined: Fri Apr 03, 2015 6:58 am

Re: Share your net worth progression

Post by student »

larry82 wrote: Sun Nov 03, 2019 2:59 pm I am 38 years old small business owner (IT), 2 kids and a happy wife. I am only tracking my investment portfolio value, i dont keep track of house value, cars, etc.

Once i started earning good money i soon realised that the investment industry was a real minefield. I read a tons of bogleheads books and started investing on my own in your typical low cost bogleheads portfolio. I dont keep track of the exact number but i probably save 90% of my annual income.

I am currently living in Canada so this is in CAD.

2010 - $320,000 (29 years old)
2011 - $579,000
2012 - $1,221,000
2013 - $1,876,000
2014 - $2,307,000
2015 - $2,908,000
2016 - $3,861,000
2017 - $4,881,000
2018 - $5,376,000
2019 - $6,974,000 (YTD)

2019 was a good year, 800k YTD return and about the same amount saved (and invested).

Hope to reach 7M$ this year :)
Wow. Congratulations.
student
Posts: 5421
Joined: Fri Apr 03, 2015 6:58 am

Re: Share your net worth progression

Post by student »

unknownfuture wrote: Sun Nov 03, 2019 4:59 pm My net worth progress
2012: ~ -$50,000 (student debt)
2013: ~ $50,000 (Sold startup)
2017: ~$500,000 (Researcher at big corp)
2019: ~$2,500,000 (Researcher at big corp)

When I did a startup, I earned $50K per year, post tax. As a researcher in industry, I make ~ 30x as much on a yearly basis, with much less stress, more freedom, and more happiness. After seeing some friends fail for years in trying to start a business, I now think that working for a company is generally a better idea than starting a business.

EDIT: fixed one number, now everything is post tax
So much progress on a few years. Congratulations.
student
Posts: 5421
Joined: Fri Apr 03, 2015 6:58 am

Re: Share your net worth progression

Post by student »

InvestorNewb wrote: Mon Nov 04, 2019 9:45 pm
InvestorNewb wrote: Thu Jun 14, 2018 2:29 pm
InvestorNewb wrote: Wed Jun 14, 2017 3:01 pm Here are the amounts that I recall with a little story for each:

Age 22 - $30,000
I graduated university with $30k in savings. I was ahead of most of my peers because my parents paid for my schooling and I did not have to go into debt. After graduating, I spent the next few years working on my business that was already generating a small income of about $1k per month.

Age 26 - $100,000
My efforts proved to be valuable and the business saw an uphill trend in profit. I moved out of my parent's home late at age 26 with this amount saved. My mom was going to start charging my brother and I for rent (and rightfully so). We decided it was time to move out and we each got our own apartment.

Age 30 - $500,000
Between the ages of 26-30 my business had strong growth and I saved almost all of the profits. I was able to save the profits because I've been working a separate 9-5 job since the age of 24 to cover my expenses. I also use my day job as safety net in case the business goes to $0. The business began to see a downhill trend starting at age 30. At age 30, I also discovered this forum and invested most of my net worth into US stocks to compensate for the decline in active business income.

Age 33 - $900,000
By age 33, my account grew to $900k mostly due to the bull market and strong USD. I also save about 15k per year from my day job and put that into the market as well. I love saving and look forward to making contributions in my tax free/deferred accounts every year.

Age 34 (current) - $1,065,000
From the previous entry, the updated balance is mostly due to the continued bull market. I'm also working on revamping my business to make it profitable again. This isn't easy when I work 40 hours per week at my day job, but I'm squeezing time in on weekends to make it happen.
Wow - it's been exactly one year since I made the post above and I coincidentally happened to stumble upon it today. My update is below:

Age 35 (current) - $1,180,000
The updated balance is due to the continued bull market. It's amazing to see how money can grow when you save a lot of it and don't touch it. The project that I mentioned in my last entry is still in progress, but it is only 3 or 4 months away from completion. This year also marked a significant milestone in that after over a decade on contract in the public sector, I finally secured a permanent position with a pension. My job will continue to support my living expenses and I don't need to worry about being out of work or having to dip into my savings anymore.
Age 36 - $1,265,000
I'm slightly late updating this thread. I am now 37 and want to document my NW on here every year. I relaunched my business at age 36 after over three years in development. Things are very slow starting out but I'm confident that the persistence will pay off in a year or two. In terms of my career, I having been acting in a senior position for almost a year and hope that it will become a full-time position soon.
Congratulations.
indexlover
Posts: 165
Joined: Mon May 11, 2015 10:39 am

Re: Share your net worth progression

Post by indexlover »

Every time i feel rather proud about my net worth/2comma club status etc, i come here to this bookmarked thread to get a good dose of needed humility . Thank you for this great thread. This thread serves me very well :D
“If a statue is ever erected to honor the person who has done the most for American investors, the hands-down choice should be Jack Bogle.” - Mr. Buffett - Berkshire Hathaway ’s 2016 annual report.
honestreader
Posts: 5
Joined: Wed Apr 25, 2018 6:01 am

Re: Share your net worth progression

Post by honestreader »

ye 2012 - 12k (graduated college, started first job, 21 y/o)
ye 2013 - 73k
ye 2014 - 145k
ye 2015 - 282k (bought house, promotion, equity liquidation event)
ye 2016 - 374k
ye 2017 - 509k (promotion)
ye 2018 - 665k (job switch, got married and combined finances)
ytd 2019 - 757k (job switch, unemployed 4 months)

I am hoping with the new job we can hit 1MM by the time we plan to start having kids, circa mid-2021.
bck63
Posts: 1528
Joined: Fri Sep 28, 2018 4:59 pm

Re: Share your net worth progression

Post by bck63 »

Reality check: Half of the urban population in Sub-Saharan Africa lives in slums.
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