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.
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Moondawg
Posts: 77
Joined: Sun Dec 15, 2019 1:56 pm

Re: Share your net worth progression

Post by Moondawg »

WhiteMaxima wrote: Fri Oct 22, 2021 12:57 pm My net worth is my personal matter. Won't share.
thanks for sharing that you won't share.
Zeno
Posts: 1042
Joined: Wed Sep 12, 2018 10:44 am

Re: Share your net worth progression

Post by Zeno »

WyomingFIRE wrote: Wed Nov 17, 2021 12:06 pm deleted
toto238
Posts: 1914
Joined: Wed Feb 05, 2014 1:39 am

Re: Share your net worth progression

Post by toto238 »

toto238 wrote: Wed Oct 27, 2021 8:16 pm
bigtex wrote: Wed Nov 25, 2020 12:11 pm
toto238 wrote: Tue Nov 24, 2020 1:29 pm I haven't been keeping meticulous track of my net worth but a few milestones that are worth mentioning:

2013: Graduated college, net worth -$80k approximately due to student loans

2016: Bought first home, net worth finally hit approximately $0

2019: Net worth surpassed +$100k

November 2020: My calculated net worth has surpassed +$250k

A large portion of the big jump in the last year and change has been due to estimated appreciation in the value of my home. Of my total net worth, $97k of that $250k is home equity.

Assets (493k) - liabilities (243k) gets us that quarter million figure.

I'm wary of counting on home equity as part of my net worth, as it's somewhat impossible to know exactly what your home is worth until you actually go to market to sell it. Not to mention real estate transactions are generally way more expensive than other types of financial transactions, with losing 5-10% in fees being somewhat common.

At the pace I'm currently on, I could be surpassing $1m as soon as 2033 (age 41). But that would require the 10.5% ROI i've been getting to continue, which is an aggressive assumption. Assuming a more reasonable 8% nominal ROI i'd still be hitting $1mil at age 43. Using a conservative 6% then I get there at age 46. Which puts hitting $2m sometime in my 50s a very reasonable target, and with luck from the markets and if i'm able to increase my savings rate hitting $2m in my 40s could even be achievable. I have hope that i'm nearing a point in my career where I might start to see substantial increases in pay without substantial increases in expenses, so we will see how that pans out.
If you don’t mind me asking, what was your income during this time frame and also your savings rate?
Sure I don't mind. Our household's joint gross income started in 2013 at about 55k when I was the only one working. my wife got her first post-college job in 2014 and our income jumped to about 80k. It has grown continually since then and last year sat at 128k for the household.

I don't know my exact savings rate, but over our entire household income it's likely in the 10-20% range.

Since my last post, my home appreciated significantly in value adding another $100k to my net worth, meanwhile my general savings have improved another roughly 30-40k. So things are looking up.
An update from crunching these numbers together recently.

I have pretty accurate figures for my retirement saving figures over time, but not for cash reserves, loan balances, etc. So i'll do two little bits here. One is just my growth in retirement savings over time, the other is my current net worth calculation.

Retirement Savings:
November 2013 - started first retirement account with $5,000
September 2014 - hit $10,000 for first time
July 2015 - hit $20,000 for first time
February 2017 - $40,000
June 2019 - $100,000
December 2020 - $150,000
August 2021 - $200,000

This year I've finally begun maxing out my Roth IRA contributions and my 401k contributions (including employer match) are up to about $13k per year. Today my retirement accounts sit at a balance of $203k, of which $115k is contributions, and the remaining $88k is earnings.

Current net worth calculation:

Assets:
My retirement Accounts - $203k
Wife's pension surrender value - $40k
Cash on hand - $58k
Value of house - $344k (zillow)
Value of cars - $31k (KBB)

Liabilities:
Mortgage - $136k
Student loans - $71k
Auto loans - $3k
Solar loan - $11k
Credit card balances - $6k (paid off every month)

Total net worth comes out to $447,589.68 with the latest figures that I have.

As for my net worth over time, I have the following numbers approximately:

Sometime 2016 (age 24) net worth reaches $0 (mostly negative due student loans prior to this).

June 2019 (Age 27) net worth $91k

November 2020 (Age 28) net worth $250k

November 2021 (Age 29) net worth $448k
GodzillaBorland
Posts: 52
Joined: Sat Dec 14, 2019 5:46 pm

Re: Share your net worth progression

Post by GodzillaBorland »

RotzehMasayim wrote: Mon Oct 18, 2021 6:46 pm
unknownfuture wrote: Mon Oct 18, 2021 5:37 pm Our net worth progress
2012: -$50,000
2013: $50,000
2017: $500,000
2019: $2,500,000
2021: $10,000,000

Wanted to share the $10M milestone somewhere anonymous. Only my wife knows about it, and her reaction was the equivalent of "that's great honey" before moving on. I can confirm that it brings peace of mind knowing that we could stop working for money. It removes financial stress from our lives, and gives us a feeling of accomplishment. Money doesn't make you happy, but lack of money can make you unhappy.

The source of wealth is about about 50% salary, 25% stock index fund appreciation, and 25% returns from lucky individual stock investments. The money is about 75% invested in broad stock index funds and 25% individual stocks (that we're not selling for tax reasons). I'm aware that 100% stocks is an aggressive portfolo but we're relatively young, are planning to hold forever, and our nerves can handle downturns. Stocks are also kind of OK in case of inflation, if you hold long enough. If bond yields are better at some future point, we'll add some bonds to the portfolio.

We don't pay any financial advisors; the Bogleheads community has taught us more than enough to do it ourselves! Thanks all! :sharebeer
CHEERS TO YOU!!! :sharebeer :sharebeer

10 Million is crazy from on 500k 4 years ago? That is insane growth.

What was you and your wifes combined annual salaries during that time?
That's crazy return. Can you share some of your strategies. if it is Crypto I haven't done anything with it yet so far :shock:
Last edited by GodzillaBorland on Sun Nov 28, 2021 2:17 pm, edited 1 time in total.
Planner01
Posts: 579
Joined: Mon Dec 26, 2016 1:44 pm

Re: Share your net worth progression

Post by Planner01 »

pasadena wrote: Thu Nov 04, 2021 12:20 pm
pasadena wrote: Thu Dec 31, 2020 7:26 pm Assets are 100% financial (I'm a renter).

31/12/2011 - 6k€ - 37 yo
31/12/2012 - $(15k) - Moved to the US. Bought a $20k car financed by a 0% employer loan, and spent the 6k€ on home country income taxes for 2011.
31/12/2014 - $52k
31/12/2015 - $93k - Car and relocation loans paid off in February. Opened first Roth IRA.
31/12/2016 - $164k - Started maxing out 401(k), Opened first brokerage account.
31/12/2017 - $251k
31/12/2018 - $330k - Nice retention bonus from ex-employer
31/12/2019 - $519k - New job with mega backdoor Roth, Pension lump-sum from ex-employer in January ($70k)
31/12/2020 - $715k - 46 yo. Bought a car with a loan

All in all a very good year, from a NW point of view. My goal is to retire a 55-56 if I'm lucky, before 60 max.
I wasn't supposed to update this thread until January, but I want to mark the milestone, as I hit the $1M mark yesterday. It's on very shaky legs, but it's there :)
You got to $1M within 10 years! Congratulations- amazing!
JS-Elcano
Posts: 992
Joined: Wed Jun 10, 2020 7:29 pm

Re: Share your net worth progression

Post by JS-Elcano »

AnnetteLouisan wrote: Mon Oct 18, 2021 7:01 pm 1976- $100 (check from dad)
1986- minus 30k (student loans)
1993- minus 70k (more loans)
1996- $40,000
-started saving-
2000- $80,000 no net worth decline despite market correction
2006- $290,000
2008- $410,000 no net worth decline despite market correction
2010- $560,000
-started investing-
2014-$1,000,000
2021- $1,900,000

only here is that meh 😂
the above is pre-BH forum! so from here on, 🚀🚀
Not 'meh' at all. I wish I was where you're already! Well done!
GodzillaBorland
Posts: 52
Joined: Sat Dec 14, 2019 5:46 pm

Re: Share your net worth progression

Post by GodzillaBorland »

sjl333 wrote: Sat Oct 23, 2021 10:43 am Just crossed back over one million, holding 1110 shares of tesla :sharebeer

(age, networth, salary)

Age 22 -120K 65K
Age 32 1.01 million 400K+

(crossed over 1.5 mill. earlier this year but lost 750K, climbed my way back up to 1.00 mill, holding TSLA long until 2030!)
Was $750K loss in stocks or other assets? Thats a pretty big loss if it was in Stocks
Ripcord
Posts: 48
Joined: Mon Oct 14, 2019 9:56 pm

Re: Share your net worth progression

Post by Ripcord »

Household net worth around $4.5M if you count dual military pensions, dual IRAs, dual TSPs and home equity. But...such a fungible number IMO. What is the tangible purpose of networth? Income streams seams a more valuable metric to me...
sjl333
Posts: 305
Joined: Sun Apr 20, 2014 2:59 pm

Re: Share your net worth progression

Post by sjl333 »

GodzillaBorland wrote: Mon Nov 29, 2021 10:12 pm
sjl333 wrote: Sat Oct 23, 2021 10:43 am Just crossed back over one million, holding 1110 shares of tesla :sharebeer

(age, networth, salary)

Age 22 -120K 65K
Age 32 1.01 million 400K+

(crossed over 1.5 mill. earlier this year but lost 750K, climbed my way back up to 1.00 mill, holding TSLA long until 2030!)
Was $750K loss in stocks or other assets? Thats a pretty big loss if it was in Stocks
750k loss was in a stock I was gambling with lost it in one day …. Overall went up on that trade like 200k in profit so the 750k loss was just paper gains that went to a paper loss
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Lehninger
Posts: 19
Joined: Thu Mar 07, 2019 3:12 pm

Re: Share your net worth progression

Post by Lehninger »

Lehninger wrote: Sat Nov 28, 2020 6:27 am
Lehninger wrote: Fri Nov 29, 2019 1:39 pm Net worth currently -$285,000.

I went to an expensive out of state medical school so I've got a beast of a student loan. However, in the past 18 months we've paid off my wife's student loans and saved about $45000 across accounts. I'm still in residency and we save ~30% of income each month. Looking ahead I've got a signed partnership contract for $400,000 salary starting. Salary will double after two years approximately upon acceptance to partnership.

Will update next year.
Saved greater than 40% of income in the past year but income has gone up significantly so it doesn't feel too tight. We are beginning to maximize all pretax accounts. I could save more but I'm searching for balance in my life. Currently in my final year of radiology residency and am looking forward to my attending job. I am a meticulous budgeter and planner so am working on an outline for student loan debt repayment and savings plan. Bogleheads is one of my favorite sites and I'm always amazed at the depth of discussion and wealth of knowledge. Thank you for the guidance and opportunity for growth. Catch you next year...

YEAR AGE ASSETS NW
2019 30 $47000 -$285000
2020 31 $115000 -$226000
Graduated radiology residency this past summer. Sold everything I owned and moved back to my hometown. Started a new job as a partner track radiologist and started to pay down my massive student loans. Bought a comfortable house that is only 1.25x my income and plan to stay here for a long time. The transition was expensive but after a couple of months we are settling into a groove. Hoping to be positive net worth next year. See you then...

YEAR AGE ASSETS NW
2019 30 $47000 -$285000
2020 31 $115000 -$226000
2021 32 $165619 -$156320
MHoffy
Posts: 4
Joined: Mon Jan 21, 2019 6:55 pm
Location: USA

Re: Share your net worth progression

Post by MHoffy »

MHoffy wrote: Thu Dec 24, 2020 3:48 pm
MHoffy wrote: Sat Nov 02, 2019 12:31 pm 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.
2020 NW update: 367K - sold our previous home at a significant increase, another year of max 401k contributions, decent returns in the market

Ready for 2021! Merry Christmas all
2019 - 257K
2020 - 367K
2021 - 492K - Another solid year in the markets, I expect market returns to dip significantly the next decade, but plan to stay the course; I'm also very surprised to see nearly a doubling of our net worth in 2 years.
DataFientist
Posts: 11
Joined: Tue Jan 30, 2018 10:00 am

Re: Share your net worth progression

Post by DataFientist »

Fat Tails wrote: Tue Feb 09, 2021 5:21 pm
DataFientist wrote: Tue Feb 09, 2021 3:35 pm
DataFientist wrote: Wed Jan 08, 2020 10:08 am Graduated college with student loans, $200 in my bank account, and a consultant job. I had always been interested in personal finance and tracked my budget with YNAB. Proud of my (small) progress so far.

2017: -30k — Graduated w/ student loans
2018: -11k — Changed jobs. Salary went from 60k to 105k
2019: 24k — Positive net worth! Maxed out 401k and IRA
Update with 2020 numbers

2017: -30k
2018: -11k
2019: 24k
2020: 57k
Tremendous progress! The first $100K is the hardest part, according to Charlie Munger, and I agree 😂.
Thank you! I have actually hit a little over $100k net worth this year due to a job change and pay bump.
Fat Tails
Posts: 519
Joined: Wed Oct 30, 2019 12:47 am
Location: New Mexico

Re: Share your net worth progression

Post by Fat Tails »

DataFientist wrote: Wed Dec 01, 2021 11:20 am
Fat Tails wrote: Tue Feb 09, 2021 5:21 pm
DataFientist wrote: Tue Feb 09, 2021 3:35 pm
DataFientist wrote: Wed Jan 08, 2020 10:08 am Graduated college with student loans, $200 in my bank account, and a consultant job. I had always been interested in personal finance and tracked my budget with YNAB. Proud of my (small) progress so far.

2017: -30k — Graduated w/ student loans
2018: -11k — Changed jobs. Salary went from 60k to 105k
2019: 24k — Positive net worth! Maxed out 401k and IRA
Update with 2020 numbers

2017: -30k
2018: -11k
2019: 24k
2020: 57k
Tremendous progress! The first $100K is the hardest part, according to Charlie Munger, and I agree 😂.
Thank you! I have actually hit a little over $100k net worth this year due to a job change and pay bump.
Congrats! :sharebeer
“Doing well with money has little to do with how smart you are and a lot to do with how you behave.” - Morgan Housel
orjones
Posts: 7
Joined: Fri Feb 02, 2018 1:34 pm

Re: Share your net worth progression

Post by orjones »

Household NW figures for married couple, no kids.

2017: $374,500 (age 36)
2018: $515,900
2019: $531,700 (bought house)
2020: $744,500 (age 40)
2021: $878,100 (down to one income as of mid-2020, bought second car)

Calculated with home as asset recorded at lower of purchase price or FMV.
Accounts for debt, which is the mortgage and a small auto loan (<$3k). (Assets crossed the $1 million line this year!)

Pretty happy with this. One of us left their full-time job mid-2020 and the other works freelance in a field that was all but shut down by the pandemic until fall 2021... which meant the last two years introduced uncertainty in our earned income. Happy we followed our personal compasses and pulled the trigger on some big professional shifts despite the uncertainty, and to see how long-term diligence in saving and frugality has meant that things on paper look less chaotic than they have felt in recent times.
CoastLawyer2030
Posts: 989
Joined: Wed Dec 30, 2020 7:44 am
Location: The Buckeye State

Re: Share your net worth progression

Post by CoastLawyer2030 »

November 2014: -$227,000 -- Wife and I were recent grad school graduates with massive student loans and no assets (except cars, which I don't count)

December 2017: $102,000 -- Paid off wife's student loans, made a dent in mine, maxed retirement accounts for three years

Present: $354,000 -- I've had a good couple years with work. Hoping next year gets us to the $500,000 mark.
GodzillaBorland
Posts: 52
Joined: Sat Dec 14, 2019 5:46 pm

Re: Share your net worth progression

Post by GodzillaBorland »

sjl333 wrote: Mon Nov 29, 2021 10:53 pm
GodzillaBorland wrote: Mon Nov 29, 2021 10:12 pm
sjl333 wrote: Sat Oct 23, 2021 10:43 am Just crossed back over one million, holding 1110 shares of tesla :sharebeer

(age, networth, salary)

Age 22 -120K 65K
Age 32 1.01 million 400K+

(crossed over 1.5 mill. earlier this year but lost 750K, climbed my way back up to 1.00 mill, holding TSLA long until 2030!)
Was $750K loss in stocks or other assets? Thats a pretty big loss if it was in Stocks
750k loss was in a stock I was gambling with lost it in one day …. Overall went up on that trade like 200k in profit so the 750k loss was just paper gains that went to a paper loss
I can relate. I was up $17K in /ES, /NQ and Micro Futures and down nearly $90K in a week. I hate having to climb back to breakeven or profit. I know it can be down but under pressure now to perform :annoyed

On TSLA never held it for but thinking of selling out of the money puts, say at the $850 strike price week or two out. The premiums are very good
User avatar
AnnetteLouisan
Posts: 7261
Joined: Sat Sep 18, 2021 10:16 pm
Location: New York, NY

Re: Share your net worth progression

Post by AnnetteLouisan »

1993- minus 78k
2002 $240k
2008- $535k
2010- $385k
2014- $1 MM
2019- $1.5MM
2020- $1.66MM
11/2021- $1.83MM, 1/3 of which is tax deferred
Last edited by AnnetteLouisan on Sat Jan 08, 2022 2:56 am, edited 1 time in total.
bovineplane
Posts: 180
Joined: Wed Jul 26, 2017 5:24 am

Re: Share your net worth progression

Post by bovineplane »

Good year for us. Two income working in health care. Calculated early as I will be busy the next few weeks.

- COVID job change = 35k annual raise.
- Sold my truck for 38k, paid 40k for it 5 years ago. Bought something cheaper with cash.
- increase in home value conservative 40k
- We have 3 somewhat collectible cars which increased in value, no car loans (2016 CTS-V, 2013 GT500, 2002 911)
- maxed both 401k plus 5% for both of us.
- bought an older RV for 30k

31 Dec 2019: 504k ($40k home equity)
31 Dec 2020: 686k (488k in retirement accounts, rest taxable/checking/savings, 60k home equity)
8 Dec 2021: 850k
darrvao777
Posts: 293
Joined: Wed Sep 10, 2014 1:34 pm

Re: Share your net worth progression

Post by darrvao777 »

12/21 = $4.2M
12/20 = $3.3M
12/19 = $2.8M
12/18 = $2.2M
12/17 = $500k
12/16 = $330k
12/15 = $45k
12/14 = $37k
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Bogle101
Posts: 468
Joined: Mon Oct 01, 2012 10:14 am

Re: Share your net worth progression

Post by Bogle101 »

I have made some serious mistakes in my life, and I am very aware that I have never really had to "pay" for those mistakes. I will elaborate below.

Age 18: $25k in my roth ira. Parents guided me there to save as I worked as a teen.

Age 26: This is when I graduated from an ivy league, instead of at age 22. I wasted 4 years because I was too immature to handle college and the partying and living without the guiding hand of my parents. 4 years wasted. I think about that all the time. Where my classmates are now Managing Directors at banks and tech companies, I am still a lowly Vice President, all because I was immature. But I remind myself that not everyone can handle the stress of a top college at 18, but to be fair so many classmates did.

Age 29: $500k cash/taxable account. Working in finance and saving everything and living in a low cost city, plus a great bull market.

Age 30: $50k cash/taxable account. I literally blew $450k after tax cash gambling. I played ultra high stakes black jack and craps and poker. Again, I thought I was some sort of genius who could beat seasoned pros. Then would chase losses. Never tapped any retirement accounts thankfully, so those kept chugging along. Was quite devastating mentally, but was able to stop cold turkey.

Age 36: I am now in a much better place financially. The most important thing you can do in your life is marry the right woman. It is obviously not easy to find an attractive, educated, rich, loyal and caring person, but you have to try. Tackling life and building wealth with the right person is much more important than what fund you choose, etc.

So marrying a great woman helped. Together we earn well, help each other save and have found that each other's company is more important than expensive toys. Since my low point of gambling all that cash away, I have been able to (with parental help) have a ~$900k wedding, pay ~$200k for business school, buy a $1.7mm apartment and a $500k investment apartment. With these large expenses, I don't have a taxable account since I have had huge cash outlays, but my retirement accounts have never been touched and are always maxed out. Today, I think I have $900k in there.

I am aware that people cannot choose their parents. I was lucky enough to have a dad who was born literally dirt poor, but was able to claw his way to America and give me a debt free education. But what you do have power over is educating yourself financially, always saving for retirement and marrying the right person. I cannot stress enough these things:

1. Don't settle or get married because you feel you are getting older. Do not ignore red flags.
2. Start saving as soon as you can, even if it is $100 bucks a month.
3. Material things weigh you down, they don't life you up. No one can tell the difference between my $350 suit and my $4k suit. No one can tell if my watch costs $1k or $50k.
4. When evaluating a job, do not just go with the total compensation as the main factor. Consider your boss and his demeanor. Working for a jerk is not worth it. If you are happy, the money will come.
5. No matter what life, relationship or financial mistakes you make, you can always recover. Don't chase your losses like I did. Attitude determines your altitude.
40% Extended Market | 40% S&P 500 | 10% REIT | 5% State Muni Bond | 5% Cash
stoptothink
Posts: 15368
Joined: Fri Dec 31, 2010 8:53 am

Re: Share your net worth progression

Post by stoptothink »

Bogle101 wrote: Thu Dec 09, 2021 8:49 am I have made some serious mistakes in my life, and I am very aware that I have never really had to "pay" for those mistakes. I will elaborate below.

Age 18: $25k in my roth ira. Parents guided me there to save as I worked as a teen.

Age 26: This is when I graduated from an ivy league, instead of at age 22. I wasted 4 years because I was too immature to handle college and the partying and living without the guiding hand of my parents. 4 years wasted. I think about that all the time. Where my classmates are now Managing Directors at banks and tech companies, I am still a lowly Vice President, all because I was immature. But I remind myself that not everyone can handle the stress of a top college at 18, but to be fair so many classmates did.

Age 29: $500k cash/taxable account. Working in finance and saving everything and living in a low cost city, plus a great bull market.

Age 30: $50k cash/taxable account. I literally blew $450k after tax cash gambling. I played ultra high stakes black jack and craps and poker. Again, I thought I was some sort of genius who could beat seasoned pros. Then would chase losses. Never tapped any retirement accounts thankfully, so those kept chugging along. Was quite devastating mentally, but was able to stop cold turkey.

Age 36: I am now in a much better place financially. The most important thing you can do in your life is marry the right woman. It is obviously not easy to find an attractive, educated, rich, loyal and caring person, but you have to try. Tackling life and building wealth with the right person is much more important than what fund you choose, etc.

So marrying a great woman helped. Together we earn well, help each other save and have found that each other's company is more important than expensive toys. Since my low point of gambling all that cash away, I have been able to (with parental help) have a ~$900k wedding, pay ~$200k for business school, buy a $1.7mm apartment and a $500k investment apartment. With these large expenses, I don't have a taxable account since I have had huge cash outlays, but my retirement accounts have never been touched and are always maxed out. Today, I think I have $900k in there.

I am aware that people cannot choose their parents. I was lucky enough to have a dad who was born literally dirt poor, but was able to claw his way to America and give me a debt free education. But what you do have power over is educating yourself financially, always saving for retirement and marrying the right person. I cannot stress enough these things:

1. Don't settle or get married because you feel you are getting older. Do not ignore red flags.
2. Start saving as soon as you can, even if it is $100 bucks a month.
3. Material things weigh you down, they don't life you up. No one can tell the difference between my $350 suit and my $4k suit. No one can tell if my watch costs $1k or $50k.
4. When evaluating a job, do not just go with the total compensation as the main factor. Consider your boss and his demeanor. Working for a jerk is not worth it. If you are happy, the money will come.
5. No matter what life, relationship or financial mistakes you make, you can always recover. Don't chase your losses like I did. Attitude determines your altitude.
I have a hard time juxtaposing the anti-consumerism slant of this post with the mention of the $900k wedding.
sc9182
Posts: 2179
Joined: Wed Aug 17, 2016 7:43 pm

Re: Share your net worth progression

Post by sc9182 »

stoptothink wrote: Thu Dec 09, 2021 9:18 am
Bogle101 wrote: Thu Dec 09, 2021 8:49 am I have made some serious mistakes in my life, and I am very aware that I have never really had to "pay" for those mistakes. I will elaborate below.

Age 18: $25k in my roth ira. Parents guided me there to save as I worked as a teen.

Age 26: This is when I graduated from an ivy league, instead of at age 22. I wasted 4 years because I was too immature to handle college and the partying and living without the guiding hand of my parents. 4 years wasted. I think about that all the time. Where my classmates are now Managing Directors at banks and tech companies, I am still a lowly Vice President, all because I was immature. But I remind myself that not everyone can handle the stress of a top college at 18, but to be fair so many classmates did.

Age 29: $500k cash/taxable account. Working in finance and saving everything and living in a low cost city, plus a great bull market.

Age 30: $50k cash/taxable account. I literally blew $450k after tax cash gambling. I played ultra high stakes black jack and craps and poker. Again, I thought I was some sort of genius who could beat seasoned pros. Then would chase losses. Never tapped any retirement accounts thankfully, so those kept chugging along. Was quite devastating mentally, but was able to stop cold turkey.

Age 36: I am now in a much better place financially. The most important thing you can do in your life is marry the right woman. It is obviously not easy to find an attractive, educated, rich, loyal and caring person, but you have to try. Tackling life and building wealth with the right person is much more important than what fund you choose, etc.

So marrying a great woman helped. Together we earn well, help each other save and have found that each other's company is more important than expensive toys. Since my low point of gambling all that cash away, I have been able to (with parental help) have a ~$900k wedding, pay ~$200k for business school, buy a $1.7mm apartment and a $500k investment apartment. With these large expenses, I don't have a taxable account since I have had huge cash outlays, but my retirement accounts have never been touched and are always maxed out. Today, I think I have $900k in there.

I am aware that people cannot choose their parents. I was lucky enough to have a dad who was born literally dirt poor, but was able to claw his way to America and give me a debt free education. But what you do have power over is educating yourself financially, always saving for retirement and marrying the right person. I cannot stress enough these things:

1. Don't settle or get married because you feel you are getting older. Do not ignore red flags.
2. Start saving as soon as you can, even if it is $100 bucks a month.
3. Material things weigh you down, they don't life you up. No one can tell the difference between my $350 suit and my $4k suit. No one can tell if my watch costs $1k or $50k.
4. When evaluating a job, do not just go with the total compensation as the main factor. Consider your boss and his demeanor. Working for a jerk is not worth it. If you are happy, the money will come.
5. No matter what life, relationship or financial mistakes you make, you can always recover. Don't chase your losses like I did. Attitude determines your altitude.
I have a hard time juxtaposing the anti-consumerism slant of this post with the mention of the $900k wedding.
Heh - who says - top quality DeBeers /Tiffany comes cheap !? Though some may portray it as cost, a good wedding ring may be considered an investment (Ring itself May be retaining 30% resale value) - heh, at least you got top-tier/earning Spouse with that wedding/ring — May be a super positive investment after all !
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novolog
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Re: Share your net worth progression

Post by novolog »

Bogle101 wrote: Thu Dec 09, 2021 8:49 am ~$900k wedding
bruh...
S&P 500 + Bitcoin
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Bogle101
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Re: Share your net worth progression

Post by Bogle101 »

novolog wrote: Thu Dec 09, 2021 9:26 am
Bogle101 wrote: Thu Dec 09, 2021 8:49 am ~$900k wedding
bruh...
Listen I was against the wedding from the start, but then my father told me something. He said who are you to tell you new family how to spend their own money? How would you feel if you saved all your life for your only daughter and then someone told you how to spend your savings? I said I would tell them to eff off. And he said exactly.

The compromise was that my family would pay for our guests and my wife's family would pay for hers. So my father in law assumed my dad would pay for his guests. However, my dad thought the entire thing was insane and refused to pay a dime more than 30k. So I quietly bridged the gap of 125k. My father in law assumed my dad covered his guests and my dad assumed my father in law paid anything over 30k because it was insane to force someone to pay more than they wanted to, no matter how important weddings are to some families.

Anyway, that's not the point. I was trying to give advice on how to not get deflated when you make stupid mistakes and to always save what you can. I am well aware 900k wedding in a tier 1 US city is something even celebs cant do and of course I wish I had that money to pay down some of my mortgages, but like my dad said, who am I to tell someone how to spend the money they earned.
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stoptothink
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Re: Share your net worth progression

Post by stoptothink »

Bogle101 wrote: Thu Dec 09, 2021 9:44 am
novolog wrote: Thu Dec 09, 2021 9:26 am
Bogle101 wrote: Thu Dec 09, 2021 8:49 am ~$900k wedding
bruh...
Listen I was against the wedding from the start, but then my father told me something. He said who are you to tell you new family how to spend their own money? How would you feel if you saved all your life for your only daughter and then someone told you how to spend your savings? I said I would tell them to eff off. And he said exactly.

The compromise was that my family would pay for our guests and my wife's family would pay for hers. So my father in law assumed my dad would pay for his guests. However, my dad thought the entire thing was insane and refused to pay a dime more than 30k. So I quietly bridged the gap of 125k. My father in law assumed my dad covered his guests and my dad assumed my father in law paid anything over 30k because it was insane to force someone to pay more than they wanted to, no matter how important weddings are to some families.

Anyway, that's not the point. I was trying to give advice on how to not get deflated when you make stupid mistakes and to always save what you can. I am well aware 900k wedding in a tier 1 US city is something even celebs cant do and of course I wish I had that money to pay down some of my mortgages, but like my dad said, who am I to tell someone how to spend the money they earned.
I got hints of it in your initial post, but this is more evidence that you live in a different world than I do. Sounds like we're similar age and our NW's are pretty comparable, but these numbers are hard for me to swallow. But, sounds like a party; hope everybody got what they were wanting/expecting.
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Bogle101
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Re: Share your net worth progression

Post by Bogle101 »

It was a shock to my system too, but when you try to throw a 600 person wedding in a city like SF or NYC or Boston, the price tag escalates alarmingly. But my thought process was that I wasn't marrying an airhead, I was marrying a doctor with a good head on her shoulders. And if her Dad wanted to use the wedding as a statement for everything he accomplished and saved for his whole life, I was gonna have to get on board.

While I am reminiscing about that time, I remember a funny story. I asked my parents about how one buys an engagement ring. They said she's a great girl, dont be your usual cheap self and get a 5k ring. So that was the number I had in my mind.

My wife at that time said listen I realize you dont know anything about jewelry and suits and expensive things, so lets go to a store to just browse and talk to a person about diamonds. So we went to harry winston just to browse. I had never even heard of this company. So the lady shows us around and then sits down with us and starts talking to my wife about cut and clarity and all that marketing nonsense. I finally interject with rough price. My wife shoots me daggers and later tells me that you save that discussion for later, when shes not there lol. Even though we discuss everything anyway. The lady looks at me and says this particular ring your wife likes is about 250 and then goes back to talking to my wife.

I remember sitting there dazed and confused for like 30 seconds. I was thinking to myself, 250? She can't mean 250 dollars. Is 250 inside speak for 25.0k? I then it slowly dawns on me that this ring cost 250 thousand dollars! Over time, I realized that places like this mark things up by thousands of percent due to name brand, and even though my wife wanted what I thought was a very larger ring, she wasn't hung up on name brand thank god. Like anyone can tell if you're ring came from Harry Winston or not. Its not like women walk around with the box. That being said, I paid a crazy amount anyway, but let me tell you, she is the best investment I ever made. It's funny how I used to think men who spent money on material things for women were delusional idiots. I guess I am one of those idiots now. Love seeing her smile.
40% Extended Market | 40% S&P 500 | 10% REIT | 5% State Muni Bond | 5% Cash
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HomerJ
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Re: Share your net worth progression

Post by HomerJ »

esqu1re wrote: Tue Oct 26, 2021 1:01 pm
CFOKevin wrote: Mon Oct 25, 2021 9:50 pm Looks like a good time time to update from my post about 4 years ago:

I've always been a record keeper on this stuff and it is great to have a place to share. The rest of the story is (most often) two earners, four kids including one with special needs, an inclination toward saving, investing in equities and staying the course.

1990 $57K age 29
1991 $94K
1992 $141K
1993 $258K
1994 $259K
1995 $345K
1996 $526K
1997 $688K
1998 $847K
1999 $1,132K
2000 $1,050K
2001 $1,001K
2002 $965K
2003 $1,099K
2004 $1,117K
2005 $1,062K
2006 $1,176K
2007 $1,242K
2008 $931K
2009 $1,133K
2010 $1,333K
2011 $1,307K
2012 $1,545K
2013 $1,908K
2014 $2,109K
2015 $2,241K
2016 $2,539K
2017 $2,938K
2018 $2,916K
2019 $3,708K retired at 58
2020 $3,930K
now $4,377K

Cheers,

Kevin
That 1998-2008 stretch of time must have been very difficult emotionally. I'm glad it turned out ok by retirement!
Not really. Note all the years in the middle when his money was still going up.

People here always talk about the "lost decade" of 2000-2010, but living it through it, it wasn't 10 straight years of bad... Plus one is still contributing the whole time, so your new contributions help.

Look at his numbers from 1998 - The losses aren't that bad. When he updated his spreadsheet each year, it was okay. No emotional trauma
1998 $847K
1999 $1,132K
2000 $1,050K
2001 $1,001K
2002 $965K
2003 $1,099K

Then decent growth for the next 4 years, so feeling pretty good really.
2004 $1,117K
2005 $1,062K
2006 $1,176K
2007 $1,242K

Then a scary crash, that turned out not to last too long. THAT one year was difficult emotionally, very difficult. But the "lost decade" didn't feel like a lost decade at all. As long as you kept your job (or found a new one quickly), the 2000s were just fine. It was just 2008 that was scary as heck.
2008 $931K
2009 $1,133K
2010 $1,333K
"The best tools available to us are shovels, not scalpels. Don't get carried away." - vanBogle59
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beernutz
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Re: Share your net worth progression

Post by beernutz »

beernutz wrote: Sat Nov 21, 2020 3:30 pm I don't go more than 10 days without calculating our net worth. I have the process down to about 10 minutes including logging into and/or checking online:
Schwab
Vanguard
TIAA
Regions
Zillow - saved homes
check Fedex stock value

Current (11/2020) net worth is $3.44 million broken down as
68% retirement accounts
15% real estate equity
17% liquid assets
Our progression over the last year has been good in that current (12/2021) net worth is $4.09 million, a $650k increase from 11/2020.

I inherited $165k from my mom's estate and the rest of the increase was due to investment gains and new savings. Thank you low cost index funds.

Good timing for that NW increase since I'm retiring 1/1/2022.
AA: 40/41/19 - equities/positive return-zero volatility/bonds
bogcir
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Re: Share your net worth progression

Post by bogcir »

Bogle101 wrote: Thu Dec 09, 2021 10:05 am It was a shock to my system too, but when you try to throw a 600 person wedding in a city like SF or NYC or Boston, the price tag escalates alarmingly. But my thought process was that I wasn't marrying an airhead, I was marrying a doctor with a good head on her shoulders. And if her Dad wanted to use the wedding as a statement for everything he accomplished and saved for his whole life, I was gonna have to get on board.

While I am reminiscing about that time, I remember a funny story. I asked my parents about how one buys an engagement ring. They said she's a great girl, dont be your usual cheap self and get a 5k ring. So that was the number I had in my mind.

My wife at that time said listen I realize you dont know anything about jewelry and suits and expensive things, so lets go to a store to just browse and talk to a person about diamonds. So we went to harry winston just to browse. I had never even heard of this company. So the lady shows us around and then sits down with us and starts talking to my wife about cut and clarity and all that marketing nonsense. I finally interject with rough price. My wife shoots me daggers and later tells me that you save that discussion for later, when shes not there lol. Even though we discuss everything anyway. The lady looks at me and says this particular ring your wife likes is about 250 and then goes back to talking to my wife.

I remember sitting there dazed and confused for like 30 seconds. I was thinking to myself, 250? She can't mean 250 dollars. Is 250 inside speak for 25.0k? I then it slowly dawns on me that this ring cost 250 thousand dollars! Over time, I realized that places like this mark things up by thousands of percent due to name brand, and even though my wife wanted what I thought was a very larger ring, she wasn't hung up on name brand thank god. Like anyone can tell if you're ring came from Harry Winston or not. Its not like women walk around with the box. That being said, I paid a crazy amount anyway, but let me tell you, she is the best investment I ever made. It's funny how I used to think men who spent money on material things for women were delusional idiots. I guess I am one of those idiots now. Love seeing her smile.
Your wife’s family sounds very wealthy. It takes a lot I think for someone to assume a $250k ring is within the norm. And them wanting and paying for a $900k wedding.

Those numbers are rightfully insane for your history of net worth and earnings but if your wife’s family is worth 8-9 figures and lived that way growing up, the picture makes at least some sense.
jarjarM
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Re: Share your net worth progression

Post by jarjarM »

novolog wrote: Thu Dec 09, 2021 9:26 am
Bogle101 wrote: Thu Dec 09, 2021 8:49 am ~$900k wedding
bruh...
Yeah, can't imagine a wedding like that without watching the E! channel.
plasticofantastico
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Re: Share your net worth progression

Post by plasticofantastico »

I’m 59 and recently retired, and my wife is 60 and about to retire. Our portfolio value over the past 10 years:

2011: $3M
2017: $5M
2020: $8M
2021: $10M

The above assets are invested about 50/50 in taxable and retirement accounts.

We have no debt and own our home, which is probably worth~ $2M. No fancy investment strategy, but we consistently saved or deferred about 1/3 of our income for the past 20+ years, stayed in the market when it tanked, and lived below our means.

Edit: corrected 2011 NW
Last edited by plasticofantastico on Fri Dec 10, 2021 2:34 pm, edited 4 times in total.
toto238
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Re: Share your net worth progression

Post by toto238 »

Bogle101 wrote: Thu Dec 09, 2021 10:05 am It was a shock to my system too, but when you try to throw a 600 person wedding in a city like SF or NYC or Boston, the price tag escalates alarmingly. But my thought process was that I wasn't marrying an airhead, I was marrying a doctor with a good head on her shoulders. And if her Dad wanted to use the wedding as a statement for everything he accomplished and saved for his whole life, I was gonna have to get on board.

While I am reminiscing about that time, I remember a funny story. I asked my parents about how one buys an engagement ring. They said she's a great girl, dont be your usual cheap self and get a 5k ring. So that was the number I had in my mind.

My wife at that time said listen I realize you dont know anything about jewelry and suits and expensive things, so lets go to a store to just browse and talk to a person about diamonds. So we went to harry winston just to browse. I had never even heard of this company. So the lady shows us around and then sits down with us and starts talking to my wife about cut and clarity and all that marketing nonsense. I finally interject with rough price. My wife shoots me daggers and later tells me that you save that discussion for later, when shes not there lol. Even though we discuss everything anyway. The lady looks at me and says this particular ring your wife likes is about 250 and then goes back to talking to my wife.

I remember sitting there dazed and confused for like 30 seconds. I was thinking to myself, 250? She can't mean 250 dollars. Is 250 inside speak for 25.0k? I then it slowly dawns on me that this ring cost 250 thousand dollars! Over time, I realized that places like this mark things up by thousands of percent due to name brand, and even though my wife wanted what I thought was a very larger ring, she wasn't hung up on name brand thank god. Like anyone can tell if you're ring came from Harry Winston or not. Its not like women walk around with the box. That being said, I paid a crazy amount anyway, but let me tell you, she is the best investment I ever made. It's funny how I used to think men who spent money on material things for women were delusional idiots. I guess I am one of those idiots now. Love seeing her smile.
i don't know if I can emphasize this enough.

You literally don't live in the same universe as 99.9% of humans. The numbers you're throwing around are complete insanity to everyone else.

I'm happy for your that you're happy and you have a great wife and great marriage.

But you need to understand that RICH was where you were when you had $100k to your name before age 30. That is RICH in America.

You're so many levels beyond that, literally nothing in your life is even relatable to normal people financially at least.

A 5K ring is NOT cheap. When I proposed to my wife I spent $800 on a ring and it was my life savings at the time, and she cherishes it to this day knowing that it represents the fact that we loved each other when we both had close to nothing.

A $250k ring is beyond insane, it's the kind of money people literally kill and die for. Ask 100 people whether they would be willing to die tomorrow if it meant their family got $250,000 and a huge number of people would take you up on it. Many people would pull the trigger themselves for that kind of money. That's the kind of money you're talking about. You spent that on a ring. A piece of metal.

Basically, the fact is that you are so beyond rich it's absolutely ridiculously unthinkable for literally everyone on this planet except your extremely tiny insulated community you're in of uber-rich individuals. What your wife seems to have done is taught you how to not blow everything you have on a regular basis. Which is also insane. It's the equivalent of you throwing money by the fistful into a volcano and she told you to stop and that makes her amazing. No that makes her slightly closer to sane.

And a $900k wedding? Jesus. A $30K wedding is ridiculously expensive and insane! Do you understand that? It's a party. It's one day. For what was spent on that wedding a family of 4 could live the rest of their lives on and never work again. $30k is already stupid expensive. You're talking about a wedding that was literally 30 TIMES more expensive than a very expensive wedding.

How do you even KNOW 600 people? I know like maybe 100 people in existence, and only like 50 of them would I want them there for my wedding. We had like 60 people at our wedding because we included a few people we didn't know super well but felt obligated. 600 is astronomical. There is no words to describe how insane these numbers are.

Like literally, you may as well be living on the Moon for how relatable your life is to the rest of humanity. You may as well be a different species. You're an alien from another planet and nothing about your existence makes any logical sense to the human race.

I'm happy that you're happy, but you should know that I strongly believe that there is literally nothing any human being on the planet does that actually deserves those levels of rewards. There is no job that creates that much economic value for society, in my opinion. Not that quickly. I don't know exactly what your company does that is so profitable, but the portion of that profit you receive is at least an order of magnitude larger than what you actually contribute to it. Happy for you that you've figured this out. But remember when you go talking to normal humans about your existence if they don't understand it, or get mad at you, or seem jealous, it's because you're not even the same species as them anymore and your mere existence is proof to them that the world is extremely unfair.
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marti038
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Re: Share your net worth progression

Post by marti038 »

So...back to normal broadcasting?
“Having, first, gained all you can, and, secondly saved all you can, then give all you can.” - John Wesley
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Re: Share your net worth progression

Post by LadyGeek »

Yes. Please stay on-topic.
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blueberrypi
Posts: 250
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Re: Share your net worth progression

Post by blueberrypi »

2018 - I finished college and started working, with about 15k left from working and a small inheritance.
2019 - 30k. Working full time, saving, started investing in company 401k.
2020 - 60k. Doubled down after March when the markets tanked.
2021 - 85k. Opened Roth IRA and taxable accounts.
Last edited by blueberrypi on Thu Dec 09, 2021 5:11 pm, edited 2 times in total.
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Bogle101
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Re: Share your net worth progression

Post by Bogle101 »

Just to be clear, I only spent 50k on the ring, not 250k. I just wanted to put in perspective why I was ok contributing 125k to the wedding, I didn’t want my new family to think I was being cheap.
40% Extended Market | 40% S&P 500 | 10% REIT | 5% State Muni Bond | 5% Cash
stoptothink
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Re: Share your net worth progression

Post by stoptothink »

Bogle101 wrote: Thu Dec 09, 2021 3:54 pm Just to be clear, I only spent 50k on the ring, not 250k. I just wanted to put in perspective why I was ok contributing 125k to the wedding, I didn’t want my new family to think I was being cheap.
You need your own thread...for entertainment purposes. Or just mosey on over here viewtopic.php?p=6372172, where a few other posters told us all that not much is left over of a $500k+/yr income if you have a family in a HCOL area.
Last edited by stoptothink on Thu Dec 09, 2021 4:17 pm, edited 1 time in total.
theorist
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Re: Share your net worth progression

Post by theorist »

plasticofantastico wrote: Thu Dec 09, 2021 1:25 pm I’m 59 and recently retired, and my wife is 60 and about to retire. Our portfolio value over the past 10 years:

2011: $1M
2017: $5M
2020: $8M
2021: $10M

The above assets are invested about 50/50 in taxable and retirement accounts.

We have no debt and own our home, which is probably worth~ $2M. No fancy investment strategy, but we consistently saved or deferred about 1/3 of our income for the past 20+ years, stayed in the market when it tanked, and lived below our means.
Congratulations! What was your annual contribution like from 2011-20, and what was your approximate asset allocation?
plasticofantastico
Posts: 53
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Re: Share your net worth progression

Post by plasticofantastico »

theorist wrote: Thu Dec 09, 2021 4:17 pm
plasticofantastico wrote: Thu Dec 09, 2021 1:25 pm I’m 59 and recently retired, and my wife is 60 and about to retire. Our portfolio value over the past 10 years:

2011: $1M
2017: $5M
2020: $8M
2021: $10M

The above assets are invested about 50/50 in taxable and retirement accounts.

We have no debt and own our home, which is probably worth~ $2M. No fancy investment strategy, but we consistently saved or deferred about 1/3 of our income for the past 20+ years, stayed in the market when it tanked, and lived below our means.
Congratulations! What was your annual contribution like from 2011-20, and what was your approximate asset allocation?
Thanks. We've been 85/15 for most of that time, with a healthy cash reserve. 'Contributions' ranged from ~$50K in 2011 to ~$150K last year.

I just went into Quicken and double checked my numbers and realized our assets in 2011 were about $3M. So the growth was not as spectacular as I had thought. Sorry for that error! I updated my original post to reflect this.
Last edited by plasticofantastico on Fri Dec 10, 2021 2:36 pm, edited 1 time in total.
Firemenot
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Re: Share your net worth progression

Post by Firemenot »

stoptothink wrote: Thu Dec 09, 2021 4:11 pm
Bogle101 wrote: Thu Dec 09, 2021 3:54 pm Just to be clear, I only spent 50k on the ring, not 250k. I just wanted to put in perspective why I was ok contributing 125k to the wedding, I didn’t want my new family to think I was being cheap.
You need your own thread...for entertainment purposes. Or just mosey on over here viewtopic.php?p=6372172, where a few other posters told us all that not much is left over of a $500k+/yr income if you have a family in a HCOL area.
It’s his money, and his in-law’s money. Money is just a tool. Seems like he’s done fine enough. Not bogleheadish spending, but whatever. As long as one is fine with net worth progression who cares about spending. As my net worth has progressed my spending has loosened up. Still drive older Japanese cars, but I like simple things that don’t break.
jarjarM
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Re: Share your net worth progression

Post by jarjarM »

plasticofantastico wrote: Thu Dec 09, 2021 4:58 pm
theorist wrote: Thu Dec 09, 2021 4:17 pm
plasticofantastico wrote: Thu Dec 09, 2021 1:25 pm I’m 59 and recently retired, and my wife is 60 and about to retire. Our portfolio value over the past 10 years:

2011: $1M
2017: $5M
2020: $8M
2021: $10M

The above assets are invested about 50/50 in taxable and retirement accounts.

We have no debt and own our home, which is probably worth~ $2M. No fancy investment strategy, but we consistently saved or deferred about 1/3 of our income for the past 20+ years, stayed in the market when it tanked, and lived below our means.
Congratulations! What was your annual contribution like from 2011-20, and what was your approximate asset allocation?
Thanks. We've been 85/15 for most of that time, with a healthy cash reserve. 'Contributions' ranged from ~$50K in 2011 to ~$150K last year.

I just went into Quicken and double checked my numbers and realized our assets in 2011 were about $3M. So the growth was not as spectacular as I had thought. Sorry for that error!
Still quite impressive with 3x from 2011 to 2021. Shows the power of compounding.
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life in slices
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Re: Share your net worth progression

Post by life in slices »

blueberrypi wrote: Thu Dec 09, 2021 3:29 pm 2018 - I finished college and started working, with about 15k left from working and a small inheritance.
2019 - 30k. Working full time, saving, started investing in company 401k.
2020 - 60k. Doubled down after March when the markets tanked.
2021 - 85k. Opened Roth IRA and taxable accounts.
Congrats! You are off to a great start
toto238
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Re: Share your net worth progression

Post by toto238 »

blueberrypi wrote: Thu Dec 09, 2021 3:29 pm 2018 - I finished college and started working, with about 15k left from working and a small inheritance.
2019 - 30k. Working full time, saving, started investing in company 401k.
2020 - 60k. Doubled down after March when the markets tanked.
2021 - 85k. Opened Roth IRA and taxable accounts.
Wow you're doing a great job. Keep up on this track my friend! I didn't hit a zero net worth until 3 years after I graduated. You're way ahead of where I was. You'll find some great advice here but you're already making great decisions and are well on your way!
toto238
Posts: 1914
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Re: Share your net worth progression

Post by toto238 »

stoptothink wrote: Thu Dec 09, 2021 4:11 pm
Bogle101 wrote: Thu Dec 09, 2021 3:54 pm Just to be clear, I only spent 50k on the ring, not 250k. I just wanted to put in perspective why I was ok contributing 125k to the wedding, I didn’t want my new family to think I was being cheap.
You need your own thread...for entertainment purposes. Or just mosey on over here viewtopic.php?p=6372172, where a few other posters told us all that not much is left over of a $500k+/yr income if you have a family in a HCOL area.
Honestly, at this point i'm 50/50 on whether the guy is just a troll. I have trouble believing someone like that would bother visiting us in our little forum here. Don't know for what purpose he's wasting his time here. He clearly doesn't need our advise, since it doesn't really apply to someone living in his universe.
stoptothink
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Re: Share your net worth progression

Post by stoptothink »

Firemenot wrote: Thu Dec 09, 2021 5:26 pm
stoptothink wrote: Thu Dec 09, 2021 4:11 pm
Bogle101 wrote: Thu Dec 09, 2021 3:54 pm Just to be clear, I only spent 50k on the ring, not 250k. I just wanted to put in perspective why I was ok contributing 125k to the wedding, I didn’t want my new family to think I was being cheap.
You need your own thread...for entertainment purposes. Or just mosey on over here viewtopic.php?p=6372172, where a few other posters told us all that not much is left over of a $500k+/yr income if you have a family in a HCOL area.
It’s his money, and his in-law’s money. Money is just a tool. Seems like he’s done fine enough. Not bogleheadish spending, but whatever. As long as one is fine with net worth progression who cares about spending. As my net worth has progressed my spending has loosened up. Still drive older Japanese cars, but I like simple things that don’t break.
Oh, I do not disagree in the least. If the guy and his family are loaded, I hope they are living it up and it is not my (or anybody's) place to judge. It was the anti-consumer slant ("3. Material things weigh you down, they don't life you up. No one can tell the difference between my $350 suit and my $4k suit. No one can tell if my watch costs $1k or $50k...") of his long initial post, where the cost of their lifestyle was sort of hidden, that made me raise an eyebrow...then the stories came out. Strong likelihood of a troll.
Firemenot
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Re: Share your net worth progression

Post by Firemenot »

stoptothink wrote: Thu Dec 09, 2021 7:47 pm
Firemenot wrote: Thu Dec 09, 2021 5:26 pm
stoptothink wrote: Thu Dec 09, 2021 4:11 pm
Bogle101 wrote: Thu Dec 09, 2021 3:54 pm Just to be clear, I only spent 50k on the ring, not 250k. I just wanted to put in perspective why I was ok contributing 125k to the wedding, I didn’t want my new family to think I was being cheap.
You need your own thread...for entertainment purposes. Or just mosey on over here viewtopic.php?p=6372172, where a few other posters told us all that not much is left over of a $500k+/yr income if you have a family in a HCOL area.
It’s his money, and his in-law’s money. Money is just a tool. Seems like he’s done fine enough. Not bogleheadish spending, but whatever. As long as one is fine with net worth progression who cares about spending. As my net worth has progressed my spending has loosened up. Still drive older Japanese cars, but I like simple things that don’t break.
Oh, I do not disagree in the least. If the guy and his family are loaded, I hope they are living it up and it is not my (or anybody's) place to judge. It was the anti-consumer slant ("3. Material things weigh you down, they don't life you up. No one can tell the difference between my $350 suit and my $4k suit. No one can tell if my watch costs $1k or $50k...") of his long initial post, where the cost of their lifestyle was sort of hidden, that made me raise an eyebrow...then the stories came out. Strong likelihood of a troll.
Could be.
Firemenot
Posts: 1497
Joined: Wed Apr 01, 2020 8:48 pm

Re: Share your net worth progression

Post by Firemenot »

Wish I’d documented my net worth like others have. Never did. As I recall:

2003: 0
2014: Broke 1 million NW
2016/2017: 1.8 million NW
Current: 5.5 million NW

My current NW is misleading though as a fair amount will owe a lot of taxes.
Yefuy.Goje
Posts: 67
Joined: Fri Oct 29, 2021 3:29 pm

Re: Share your net worth progression

Post by Yefuy.Goje »

stoptothink wrote: Thu Dec 09, 2021 7:47 pm
Firemenot wrote: Thu Dec 09, 2021 5:26 pm
stoptothink wrote: Thu Dec 09, 2021 4:11 pm
Bogle101 wrote: Thu Dec 09, 2021 3:54 pm Just to be clear, I only spent 50k on the ring, not 250k. I just wanted to put in perspective why I was ok contributing 125k to the wedding, I didn’t want my new family to think I was being cheap.
You need your own thread...for entertainment purposes. Or just mosey on over here viewtopic.php?p=6372172, where a few other posters told us all that not much is left over of a $500k+/yr income if you have a family in a HCOL area.
It’s his money, and his in-law’s money. Money is just a tool. Seems like he’s done fine enough. Not bogleheadish spending, but whatever. As long as one is fine with net worth progression who cares about spending. As my net worth has progressed my spending has loosened up. Still drive older Japanese cars, but I like simple things that don’t break.
Oh, I do not disagree in the least. If the guy and his family are loaded, I hope they are living it up and it is not my (or anybody's) place to judge. It was the anti-consumer slant ("3. Material things weigh you down, they don't life you up. No one can tell the difference between my $350 suit and my $4k suit. No one can tell if my watch costs $1k or $50k...") of his long initial post, where the cost of their lifestyle was sort of hidden, that made me raise an eyebrow...then the stories came out. Strong likelihood of a troll.
Those who know know.
Kookaburra
Posts: 2045
Joined: Thu Apr 02, 2020 11:14 pm

Re: Share your net worth progression

Post by Kookaburra »

Yefuy.Goje wrote: Thu Dec 09, 2021 8:14 pm
stoptothink wrote: Thu Dec 09, 2021 7:47 pm
Firemenot wrote: Thu Dec 09, 2021 5:26 pm
stoptothink wrote: Thu Dec 09, 2021 4:11 pm
Bogle101 wrote: Thu Dec 09, 2021 3:54 pm Just to be clear, I only spent 50k on the ring, not 250k. I just wanted to put in perspective why I was ok contributing 125k to the wedding, I didn’t want my new family to think I was being cheap.
You need your own thread...for entertainment purposes. Or just mosey on over here viewtopic.php?p=6372172, where a few other posters told us all that not much is left over of a $500k+/yr income if you have a family in a HCOL area.
It’s his money, and his in-law’s money. Money is just a tool. Seems like he’s done fine enough. Not bogleheadish spending, but whatever. As long as one is fine with net worth progression who cares about spending. As my net worth has progressed my spending has loosened up. Still drive older Japanese cars, but I like simple things that don’t break.
Oh, I do not disagree in the least. If the guy and his family are loaded, I hope they are living it up and it is not my (or anybody's) place to judge. It was the anti-consumer slant ("3. Material things weigh you down, they don't life you up. No one can tell the difference between my $350 suit and my $4k suit. No one can tell if my watch costs $1k or $50k...") of his long initial post, where the cost of their lifestyle was sort of hidden, that made me raise an eyebrow...then the stories came out. Strong likelihood of a troll.
Those who know know.
Some might know. But nobody cares.
StoopieHippo
Posts: 167
Joined: Sat Sep 15, 2018 10:42 am
Location: Seattle, WA

Re: Share your net worth progression

Post by StoopieHippo »

toto238 wrote: Thu Dec 09, 2021 6:05 pm
blueberrypi wrote: Thu Dec 09, 2021 3:29 pm 2018 - I finished college and started working, with about 15k left from working and a small inheritance.
2019 - 30k. Working full time, saving, started investing in company 401k.
2020 - 60k. Doubled down after March when the markets tanked.
2021 - 85k. Opened Roth IRA and taxable accounts.
Wow you're doing a great job. Keep up on this track my friend! I didn't hit a zero net worth until 3 years after I graduated. You're way ahead of where I was. You'll find some great advice here but you're already making great decisions and are well on your way!
I didn't hit 0 till 9 years after graduating! You're both doing AWESOME!
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