atlast30
Initiate Member
Joined: Jan 1, 2011 21:29:49 GMT -5
Posts: 84
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Post by atlast30 on Mar 23, 2011 22:26:33 GMT -5
Hi Everyone!
I'm extremely pleased to share that my investment account balances totaled $300,643 as of yesterday! I am blessed. I'm hoping to hit the $350K milestone by December. Of course, the market willl have to cooperate for that to happen as my remaining contributions (including employer contributions) will total $39k during the next 9 months.
I am 30 years old.
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DVM gone riding
Senior Member
Joined: Dec 20, 2010 23:04:13 GMT -5
Posts: 3,383
Favorite Drink: Coffee!!
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Post by DVM gone riding on Mar 23, 2011 22:31:22 GMT -5
Wow I am impressed, esp since i will be 30 this year and am happy I have topped 30k! You are definitely ahead.
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schildi
Well-Known Member
3718 and no text
Joined: Jan 14, 2011 1:38:58 GMT -5
Posts: 1,799
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Post by schildi on Mar 24, 2011 0:03:49 GMT -5
Wow, congrats! Very impressive!
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azphx1972
Familiar Member
Joined: Mar 2, 2011 22:08:36 GMT -5
Posts: 809
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Post by azphx1972 on Mar 24, 2011 0:33:12 GMT -5
Very impressive! How did you achieve this at only 30 years of age?
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parker1b2
Established Member
Joined: Jan 4, 2011 21:51:28 GMT -5
Posts: 256
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Post by parker1b2 on Mar 24, 2011 6:34:09 GMT -5
Congrats.. that is awesome.. can you share how you did this at such a young age, would love to hear to give me more motovation... Great job!!!!!
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Deleted
Joined: May 2, 2024 16:47:09 GMT -5
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Post by Deleted on Mar 24, 2011 7:16:29 GMT -5
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Deleted
Joined: May 2, 2024 16:47:09 GMT -5
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Post by Deleted on Mar 24, 2011 7:24:34 GMT -5
Way to go!
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blackdiamond
Initiate Member
Joined: Jan 17, 2011 3:34:08 GMT -5
Posts: 85
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Post by blackdiamond on Mar 24, 2011 7:47:45 GMT -5
Congrats! Here's to smooth sailing  |
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Post by illinicheme on Mar 24, 2011 10:28:20 GMT -5
Congrats!
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TrixAre4Kids
Familiar Member
'Not all those who wander are lost' - J. R. R. Tolkien
Joined: Dec 22, 2010 22:33:15 GMT -5
Posts: 877
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Post by TrixAre4Kids on Mar 24, 2011 13:23:01 GMT -5
Congrats, you are a super-saver!  |
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Deleted
Joined: May 2, 2024 16:47:09 GMT -5
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Post by Deleted on Mar 24, 2011 17:40:41 GMT -5
CONGRATS!!! Pretty impressive  |
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atlast30
Initiate Member
Joined: Jan 1, 2011 21:29:49 GMT -5
Posts: 84
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Post by atlast30 on Mar 24, 2011 23:22:26 GMT -5
Thank you everyone! Being on the Your Money Message Board (MSN and now Proboards) definitely lit a fire under my butt regarding how much I truly could save. I remember when I joined the MSN Board back in December 2007, I was feeling pretty good about my financial accomplishments. That is, until I read posts by (i) people, my same age, that managed to save more than me or (ii) people that made less than me, but saved more in terms of % and absolute dollar. Being humbled by the posters on the MSN Board made me so much more ambitious about saving.
As for how I'm doing it, the short answer is that I live well below my means and I am blessed to make a good salary, while living in a low cost of living area. This year I will make $124k ($93k base and $31k bonus). I automatically save 44% ($41k) of my base salary; the money is removed before my paycheck is deposited. I find that this works best for me because the money is automatically invested regardless of how I feel about the market. My $31k bonus was distributed as follows: $10.5k savings, $10k tithing, $8.7k to the government, and $1.7k to me for fun. My company will also contribute $12k to my 401k and pension based on my current salary. My 12/31/2010 investment balance increased by $73k from the previous 12 months. I'm aiming for my accounts to grow by $79k this year (I need to make a $15.5k return in order to reach my target because all contribution sources will be $63k).
My mortgage of $159k ($1,026 PITI/month) is reasonable, my car is paid for, my student loans ($12K @ 1.875% interest) are manageable, and I don't have the latest gadgets or fancy new clothes. In fact, I spend most of my time consignment shopping. Again, I just live a frugal lifestyle. It's not glamorous, but it is a means to an end. My ultimate savings goals of reaching $1MM before I turn 39 year old is much bigger than my need to spend. I don't completely deprive myself, but I don't splurge too often either. I don't have children yet and I'm not married, so I figure this is the perfect time to save as much as I can while my expenses are low.
Lastly, I read a ton of financial articles and I frequently lurk on this message board. My success is definitely attributed to the contribution that has been made to my financial life thanks to poster that are willing to be real and share.
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azphx1972
Familiar Member
Joined: Mar 2, 2011 22:08:36 GMT -5
Posts: 809
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Post by azphx1972 on Mar 25, 2011 0:55:36 GMT -5
Awesome! Karma! |
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Deleted
Joined: May 2, 2024 16:47:09 GMT -5
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Post by Deleted on Mar 25, 2011 7:13:45 GMT -5
Awesome! Karma! X 2 That is beyond impressive! |
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ezorn33
New Member
Joined: Jan 31, 2011 9:46:35 GMT -5
Posts: 18
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Post by ezorn33 on Mar 25, 2011 8:47:12 GMT -5
Am I the only one who thinks it's kind of bad form to be shopping at consignment stores while making $124K in a LCOL? I mean, regardless of how I might feel about that lifestyle choice (and I do think it's overly ascetic, not an example for others to follow), I think consignment stores are meant for low-income individuals to be able to clothe themselves and their families. It seems a bit...greedy for someone making $124K to be going there and buying up their wares. Just my humble opinion.
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cpadvisor
Junior Member
Joined: Jan 14, 2011 11:46:00 GMT -5
Posts: 143
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Post by cpadvisor on Mar 25, 2011 9:19:20 GMT -5
Am I the only one who thinks it's kind of bad form to be shopping at consignment stores while making $124K in a LCOL? I mean, regardless of how I might feel about that lifestyle choice (and I do think it's overly ascetic, not an example for others to follow), I think consignment stores are meant for low-income individuals to be able to clothe themselves and their families. It seems a bit...greedy for someone making $124K to be going there and buying up their wares. Just my humble opinion. I hope you're kidding. |
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atlast30
Initiate Member
Joined: Jan 1, 2011 21:29:49 GMT -5
Posts: 84
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Post by atlast30 on Mar 25, 2011 11:02:13 GMT -5
I love consignment shopping because I can buy brand name (BeBe, BCBG, The Limited, White House/Black Market) and designer clothing (Elie Tahari, Ralph Lauren, Huminska, Ed Hardy) at incredible prices. I was never into Designer clothing until I started consignment shopping. I became addicted to consignment shopping after I purchased a formal, black strapless dress designed by White House/Black Market and black, sequined peep toe heels by BCBG for less than $50, total. I wore that dress to a wedding and I was complemented by almost everyone. That outfit would have cost at least $220 if I had purchased it new.
Honestly, it feels great to look like a million bucks for pennies on the dollar. I am very lucky that I live pretty close to a highend neighborhood where the local women aren't afraid to spend big bucks on nice clothing, barely wear them, and then take them to the consignment shop.
I whole-heartedly agree with T-Bird's statement that consignment shops are for anyone who is willing to buy.
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Deleted
Joined: May 2, 2024 16:47:09 GMT -5
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Post by Deleted on Mar 25, 2011 11:09:48 GMT -5
Congrats!
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Post by aries7 on Mar 25, 2011 12:36:37 GMT -5
Congrats!! This is fantastic!!
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TrixAre4Kids
Familiar Member
'Not all those who wander are lost' - J. R. R. Tolkien
Joined: Dec 22, 2010 22:33:15 GMT -5
Posts: 877
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Post by TrixAre4Kids on Mar 25, 2011 14:11:32 GMT -5
Holy cow, good for you OP!
I shop at thrift stores and NEVER feel guilty, that's just nuts. I'm not 'hard' on clothing and I donate stuff back to them when I get tired of it.
What goes around, comes around. Y'know? Kinda like, KARMA. ;D
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cpadvisor
Junior Member
Joined: Jan 14, 2011 11:46:00 GMT -5
Posts: 143
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Post by cpadvisor on Mar 25, 2011 15:06:00 GMT -5
OP - what do you do for a living?
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azphx1972
Familiar Member
Joined: Mar 2, 2011 22:08:36 GMT -5
Posts: 809
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Post by azphx1972 on Mar 25, 2011 15:17:44 GMT -5
I see nothing wrong with shopping consignment or thrift stores. There's enough waste in today's society; no need to add to the trash pile when you can recycle perfectly good clothing, especially when most of it has barely any wear. I wish more celebrities would wear consignment; it would set a great example for the masses.
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Deleted
Joined: May 2, 2024 16:47:09 GMT -5
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Post by Deleted on Mar 25, 2011 22:20:05 GMT -5
Am I the only one who thinks it's kind of bad form to be shopping at consignment stores while making $124K in a LCOL? I mean, regardless of how I might feel about that lifestyle choice (and I do think it's overly ascetic, not an example for others to follow), I think consignment stores are meant for low-income individuals to be able to clothe themselves and their families. It seems a bit...greedy for someone making $124K to be going there and buying up their wares. Just my humble opinion. Please tell me you are kidding? She is not getting it for free, she is actually paying for it. Next you will say people above a certain income should not shop at the dollar store? My mom makes more money than my wife and I combined and she LOVES her dollar store. You will hear her say alot of times: Why would I get it there, I can just go to the dollar store by the house. |
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formerexpat
Senior Member
Joined: Dec 18, 2010 12:09:05 GMT -5
Posts: 4,079
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Post by formerexpat on Mar 26, 2011 10:54:33 GMT -5
Congrats on your success and achievements. You sound like a woman right up my ally and a perfect catch for a lucky guy some day. Sounds like you've got a good balance in your life. You're living on a salary of $80k while saving over $40k. That's a nice living. Are you in pharma sales by chance? Sounds about the salary / bonus split of a pharma sale girl. As for the post questioning consignment shopping; probably one of the more stupid posts I've seen here. There are a lot of designed consignment shops that sell the labels for deep discounts and the clothes are barely worn. These stores are great for frugal people and are hardly the shopping location for the poor and low income - most of these prices are likely to still be too expensive for the low income. |
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woodwand
Initiate Member
My next boyfriend is going to have an RV.
Joined: Dec 27, 2010 19:00:07 GMT -5
Posts: 76
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Post by woodwand on Mar 27, 2011 17:40:45 GMT -5
Shopping at consignment stores? Lord have mercy, you probably don't have a housekeeper, either, depriving some poor soul of a job! With your income, you can certainly afford it.  Super job! |
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