stoptothink wrote: ↑Tue Oct 26, 2021 6:58 am
esqu1re wrote: ↑Mon Oct 25, 2021 6:54 pm
Whenever I feel pretty good about my NW, I come here to feel more humble. It never fails.
I never feel good about my financial situation because I'm on here almost daily...and I am (for all intents and purposes) financially independent at 40. Waiting until January 1st to update the spreadsheet, but back-of-the-napkin math suggests we're inching up to $1.5M. Nothing for this thread, but I have to remind myself that's about a 10-fold increase since my wife and I met 8yrs ago.
I've been mulling posting our NW progression on here for a while, but wasn't sure I wanted to. But your comment made me decide to and I hope it is an encouragement to others. You are a lot further along than we where at 40, so just keep that in mind. I've always tracked my finances so I can start at 15 until now at 51. I'll spare everyone the details of the first couple decades though and just give the highlights.
Just a note, I've always valued my real estate at the price I payed for it and only include the gains on it when I sell it, which I have done quite a bit over the years between rentals and raw land. All values are year end.
Year - Age - Net Worth
1985 - 15 - $ 2,900 - worked a summer job at $3.35 an hour
1990 - 20 - $ 9,900 - worked various part time jobs while going to community college and high school
1995 - 25 - $ 50,500 - started full time job at 23 after looking for over a year and only doing part time jobs
2000 - 30 - $ 112,000 - same job, salary $30,000
2005 - 35 - $ 181,000 - same job, met future wife who encouraged me to find a better paying job
2006 - 36 - $ 197,000 - Got a new job at double my old salary
2007 - 37 - $ 503,000 - Got married (combined finances about equal net worth at marriage)
2008 - 38 - $ 511,000
2009 - 39 - $ 686,000
2010 - 40 - $ 842,000
2011 - 41 - $ 901,000
2012 - 42 - $1,084,000
2013 - 43 - $1,309,000
2014 - 44 - $1,451,000
2015 - 45 - $1,543,000
2016 - 46 - $1,750,000
2017 - 47 - $2,118,000
2018 - 48 - $2,196,000
2019 - 49 - $2,706,000
2020 - 50 - $3,100,000
2021 - 51 - $3,550,000 so far
We have maxed both our 401k & IRAs since 2006. HSA since 2011.
We have been blessed more than I could ever dream, so don't get discouraged at the numbers you see on here, slow and steady saving and investing will get you a lot farther than you think.