Rukh O'Rorke
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Post by Rukh O'Rorke on Jun 14, 2023 16:23:34 GMT -5
Some interesting trivia about that account (because the power of compounding fascinates me). I started back to work and opened that 401K late 2005. I remember quite distinctly when it hit 100K in early 2017...it took almost 12 years! Five years later it's quadrupled.
Of course, contributions the past 5 years were a lot higher than the first 12. Like 120K vs 60K, but still...
I have a 401k rollover that I remember it hit 100k right before the 2008 thing got started. That 100k included everything I'd saved for from 1999, including a cashed out pension from one long ago employer. Then, I added about 58k-ish (??not sure exact amount) when my company was sold in 2010 and we moved to new company's 401k, I beleive the 100k had not yet recouped itself at that point, but I can't remember and some documentation was lost with scottrade being acquired by tdameritrade. Today - right this second.....that account balance is 1,134,373.71 (that is the account that includes my netflix and most of my tesla shares, so has had a lot of boost to the growth from those two.....). No new money added since 2010. From my most recent former company, my rollover is at vanguard, I did that 2020. that one started at 153, now only to 170 3 years later....trying to keep that one in less volatile stuff, but questioning myself, as usual! |
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Ava
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Posts: 4,319
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Post by Ava on Jun 29, 2023 9:59:31 GMT -5
Update for June 29, 2023
Assets
Cash $3,769
Car $14,775 per Kelley Blue Book
Condo $106,400 per Zillow
Retirement Accounts (Roth IRA, Trad. IRA, 401K, ESOP) $274,661
HSA $30,817
Total Assets $430,422
Liabilities
Credit Card $4,422- This is a Fidelity Visa card that I use for everything and it gives 2% back.
Car Loan- $8,317
Mortgage- $49,738
Student Loan- $77,153
Total Liabilities- $139,630
Total Net Worth $290,792
Prior Net Worth $260,065
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Ombud
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Post by Ombud on Jun 30, 2023 15:08:00 GMT -5
| Schwab Accts: | | % | | Previous: | 926,581
| | Stocks | 823,348
| 84.2%
| | Fixed Income | 154,216
| 15.8%
| | Current | 977,564
| | Difference | +50,983
| | YTD | +15.6%
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jun 30, 2023 18:14:18 GMT -5
Update.....
| April 2021 | April 2022 | April 2023 | 04.30.2023 | 05.31.2023 | 06.30.2023 | | 401k and rollovers | $1,304,844
| $1,629,256
| 1,259,436
| 1,147,663
| 1,303,553
| 1,514,727
| | Roth | $197,893
| 213,577
| 122,508
| 98,903
| 122,305
| 158,660
| | I-bonds |
| 17,142
| 24,215
| 26,715 | 34,349
| 34,349 | | Notes, Bills, TIPS |
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| 7,500
| 7,500
| 7,500
| 7,500 | | Other: EF, ESOP, HSA | $49,159
| 40,640
| -5,101 | -13,712
| -7,924
| 2,731
| | Total |
$1,551,896
| $1,900,615
| 1,408,558
| 1,267,069 | 1,459,783
| 1,717,968
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another upward month that has me wondering if I could swing it, lol! Time to get cracking on my other pre-retirement tasks checklist! AA 96/0/4 - movement to more stocks just due to growth mostly - but have not added to cash positions since may while usual 401k is going to all stocks......will need to think more about how to get to 90/0/10..... |
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Post by minnesotapaintlady on Jun 30, 2023 19:17:42 GMT -5
I bonds haven't updated for July yet, but good enough. Finally broke my all time high record that was set in January of 22!  Mortgage - $74,320 CC debt - $5076 Total Debt $79,396Cash and Savings - $59,297 529s - $61,941 Retirement - $853,976 House - $300,000 Total Assets $1,275,204Net Worth $1,195,808
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jun 30, 2023 19:33:59 GMT -5
I bonds haven't updated for July yet, but good enough. Finally broke my all time high record that was set in January of 22!
Mortgage - $74,320 CC debt - $5076 Total Debt $79,396Cash and Savings - $59,297 529s - $61,941 Retirement - $853,976 House - $300,000 Total Assets $1,275,204Net Worth $1,195,808
awesome!!  |
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ners
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Post by ners on Jun 30, 2023 20:43:58 GMT -5
Update
Asset
Cash 25,480.31
Retirement 180,712.55
House 80,000.00
Car 1,600.00
Stock 7,074.44
HSA $7,630.13
Total Assets 302,497.43
Liabilities
Mortgage 50,125.71
Helco 5,160.48
Total Liabilities 55,286.19
Net Worth $247,211.24
Movement in the correct direction.
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tcu2003
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Post by tcu2003 on Jul 1, 2023 13:56:18 GMT -5
Here is my June 2023 update:
ASSETS:
Checking/Savings: $230,837
House: $512,700
Retirement: $1,897,800
Brokerage: $43,792
529s: $100,370
DEBTS:
$0
Total NW: $2,785,499
As usual, the list above excludes our cars, which are worth around $30k combined, but I leave them out because we're unlikely to sell, and need them to get to/from work, kids schools, etc. in the land of suburbia.
We're up over 5% over the previous month, but still down from December 2021, which was our high so far (we are getting pretty close to that, though). After I updated my spreadsheet, I moved some cash over to our brokerage account. Probably should have done more of that a few months ago before stocks started going up.
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aricia
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Post by aricia on Jul 1, 2023 19:07:42 GMT -5
7/1/2023
Assets:
House: $300,000+
Cash: $385,000
I bonds: $265,000
Brokerage: $195,000
401k/IRAs: $1,400,000
HSA: $45,000
529s: $75,000
Cars (4): $30,000
Net worth: $2,695,000
So much cash… got rid of some of it by extra spending but not enough 😂 Planning on spending some more on a new roof soon but probably need to increase investments, too. Or buy a more expensive house.
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tcu2003
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Post by tcu2003 on Jul 3, 2023 12:42:13 GMT -5
7/1/2023 So much cash… got rid of some of it by extra spending but not enough 😂 Planning on spending some more on a new roof soon but probably need to increase investments, too. Or buy a more expensive house. I always vote for more vacations! That helps spend money! 🤪 |
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Deleted
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Post by Deleted on Jul 3, 2023 16:04:49 GMT -5
Perhaps someone here can give me a little guidance on how to state our net worth. We are retired, and DH's pension plan does not have a cash value. He receives a monthly sum for life, with some COLA adjustment. It can't be reduced during his life; upon his death I will get 50% for the rest of my life. At one point, a financial advisor said we would need several million in assets to produce that yield; how do I calculate that sum?
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CCL
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Post by CCL on Jul 3, 2023 20:45:15 GMT -5
Perhaps someone here can give me a little guidance on how to state our net worth. We are retired, and DH's pension plan does not have a cash value. He receives a monthly sum for life, with some COLA adjustment. It can't be reduced during his life; upon his death I will get 50% for the rest of my life. At one point, a financial advisor said we would need several million in assets to produce that yield; how do I calculate that sum? You might try an annuity calculator. Here's Schwab's calculator: www.schwab.com/annuities/fixed-income-annuity-calculator |
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Post by minnesotapaintlady on Jul 3, 2023 20:47:42 GMT -5
Perhaps someone here can give me a little guidance on how to state our net worth. We are retired, and DH's pension plan does not have a cash value. He receives a monthly sum for life, with some COLA adjustment. It can't be reduced during his life; upon his death I will get 50% for the rest of my life. At one point, a financial advisor said we would need several million in assets to produce that yield; how do I calculate that sum? Well, if you take whatever he gets annually in a pension and divide it by .04 that would give you what you would need in savings to safely draw that pension amount for about 30 years. Maybe go down to .03 if he retired early or you know you'd be drawing more than 30 between the two of you.
It's a quick and dirty and doesn't take into account a lot of variables (like dropping to 50% if it is just you) but would give you an idea.
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CCL
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Post by CCL on Jul 3, 2023 20:53:03 GMT -5
I was thinking of that, too, MPL, except calculating it that way doesn't take into account all the principal that will be left over.
Haven't found an annuity calculator yet that let's you include cost of living and 50% payouts.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jul 4, 2023 10:29:14 GMT -5
Perhaps someone here can give me a little guidance on how to state our net worth. We are retired, and DH's pension plan does not have a cash value. He receives a monthly sum for life, with some COLA adjustment. It can't be reduced during his life; upon his death I will get 50% for the rest of my life. At one point, a financial advisor said we would need several million in assets to produce that yield; how do I calculate that sum? Well, if you take whatever he gets annually in a pension and divide it by .04 that would give you what you would need in savings to safely draw that pension amount for about 30 years. Maybe go down to .03 if he retired early or you know you'd be drawing more than 30 between the two of you.
It's a quick and dirty and doesn't take into account a lot of variables (like dropping to 50% if it is just you) but would give you an idea.
I don't think that's quite right - .04 and .03 are not meant to exhaust the asset base at death, which the annuity will do. I've used .06 as a proxy for "using something up" as it gives a 50% chance of 0 after 30 years. but for the 50% spousal benefit .... I think an annuity calculator is going to be more accurate! |
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Deleted
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Post by Deleted on Jul 4, 2023 10:32:09 GMT -5
Thanks minnesotapaintlady and CCL I ran the Schwab one which, as you both noted, doesn't allow for reduction to 50% for survivor. I also did the annual divided by .04 which I think is more realistic. The two methods resulted in about $1.5 million needed for current yield. The structure of his pension has always been problematic in terms of net worth statements for lending as they simply do not understand or allow for inclusion of that value. Fortunately, our lending needs are low, just the occasional car. |
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Post by minnesotapaintlady on Jul 4, 2023 11:14:13 GMT -5
Well, if you take whatever he gets annually in a pension and divide it by .04 that would give you what you would need in savings to safely draw that pension amount for about 30 years. Maybe go down to .03 if he retired early or you know you'd be drawing more than 30 between the two of you.
It's a quick and dirty and doesn't take into account a lot of variables (like dropping to 50% if it is just you) but would give you an idea.
I don't think that's quite right - .04 and .03 are not meant to exhaust the asset base at death, which the annuity will do. I've used .06 as a proxy for "using something up" as it gives a 50% chance of 0 after 30 years. but for the 50% spousal benefit .... I think an annuity calculator is going to be more accurate! No, it's going to be impossible to know it's true value without knowing her and her spouse's death date, but it would give her an idea of what she would need to have to produce that income. |
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Post by Deleted on Jul 4, 2023 13:33:40 GMT -5
Many of DH's fellow retirees took the cash option when they left, certain they could beat the odds by self-investing or using it to start a business or flip properties. They did not beat the odds and most had to return to work within 10 years, taking whatever they could find. Some of the older ones are now getting by on SS only or dependent on their children.
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CCL
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Post by CCL on Jul 4, 2023 15:11:14 GMT -5
IME, lender's don't care at all about net worth, only income.
At on time I tried to calculate the value of hubby's pension. I kinda got lost trying to figure out the value to assign the health insurance, so I gave up.
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Ombud
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Post by Ombud on Jul 31, 2023 15:41:09 GMT -5
Many of DH's fellow retirees took the cash option when they left, certain they could beat the odds by self-investing or using it to start a business or flip properties. They did not beat the odds and most had to return to work within 10 years, taking whatever they could find. Some of the older ones are now getting by on SS only or dependent on their children. That's so sad! IME, lender's don't care at all about net worth, only income. At on time I tried to calculate the value of hubby's pension. I kinda got lost trying to figure out the value to assign the health insurance, so I gave up. Why is that relative? On a different note: it was a very good month (even though I took out 3k): | Schwab Accts: | | % | | Previous: | 977,564
| | Stocks | 853,085
| 85%
| | Fixed Income | 153,264
| 15%
| | Current | 1,006,349
| | Difference | 27,785
| | YTD | 19.05%
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Lizard Queen
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103/2024
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Post by Lizard Queen on Jul 31, 2023 16:05:15 GMT -5
My FIL took the cash option from his pension. He's still doing alright, but he can't seem to stop switching vehicles. He and his late also would switch housing constantly, but his new wife is more careful with money, which is a good thing.
As for us, we are saving like fiends since my DH got a new job this year making~$20k more. Our NW, last I heard, was $1.1M, but that was before paying for a couple vacations. Since we hit the magic number, I feel the need to loosen the purse strings somewhat. We're still driving the old cars, though. If we end up buying something newer, we'll tighten spending back up a bit.
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ners
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Post by ners on Jul 31, 2023 19:38:42 GMT -5
Update
Assets:
Cash 25,547.19
Retirement 185,684.75
House 80,000.00
Car 1,550.00
Stock 7,230.36
HSA 7,454.67
Total Assets 307,466.97
Liabilities
Mortgage 49,967.83
Helco 4,830.03
Total Liabilities 54,797.86
Net Worth 252,669.11
Net Worth up again this month to the highest it has been.
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Post by minnesotapaintlady on Aug 1, 2023 9:45:46 GMT -5
Update for August. Nice bump in the retirement accounts again, but of course, now having to pay more per share again. I had a couple individual stocks in my HSA and sold them last month to lock in the profit. Nothing huge but enough to boost my HSA from 12 to 16K. I pay for all medical out of there rather than cash flow, so don't want to be too risky. Mortgage - $73,989 CC debt - $4763 Total Debt $78,752Cash and Savings - $59,840 529s - $63,009 Retirement - $885,049 House - $300,000 Total Assets $1,307,898Net Worth $1,229,146
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steph08
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Post by steph08 on Aug 1, 2023 10:11:07 GMT -5
Assets
House $325,000.00
401k $41,329.38
Me IRA $206,153.90
DH IRA $60,658.88
Savings $20,000.00
9 acres $27,000.00
DD1 529 $11,684.76
DD2 529 $8,776.84
SUV $41,500
Truck $48,000
$790,103.76
Liabilities
Mortgage $209,154.33
Truck Loan $31,597.45
SUV Loan $31,254.73
$272,006.51
Net Worth $518,097.25
Added in vehicles because even though they have loans, they still do have equity in them. House is probably worth more, but haven't had it appraised since we built it two years ago.
Net worth up almost $31,000 from end of May.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Aug 1, 2023 15:34:13 GMT -5
Update Assets: Cash 25,547.19 Retirement 185,684.75 House 80,000.00 Car 1,550.00 Stock 7,230.36 HSA 7,454.67 Total Assets 307,466.97 Liabilities Mortgage 49,967.83 Helco 4,830.03 Total Liabilities 54,797.86 Net Worth 252,669.11
Net Worth up again this month to the highest it has been. awesome sauce! I love hiting new ATHs!! |
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Rukh O'Rorke
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Post by Rukh O'Rorke on Aug 1, 2023 15:50:07 GMT -5
Update.....
| April 2021 | April 2022 | April 2023 | 04.30.2023 | 05.31.2023 | 06.30.2023 | 08.01.2023 | | 401k and rollovers | $1,304,844
| $1,629,256
| 1,259,436
| 1,147,663
| 1,303,553
| 1,514,727
| 1,550,244
| | Roth | $197,893
| 213,577
| 122,508
| 98,903
| 122,305
| 158,660
| 156,917
| | I-bonds |
| 17,142
| 24,215
| 26,715 | 34,349
| 34,349 | 34,754
| | Notes, Bills, TIPS |
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| 7,500
| 7,500
| 7,500
| 7,500 | 7,000 | | Other: EF, ESOP, HSA | $49,159
| 40,640
| -5,101 | -13,712
| -7,924
| 2,731
| 8,256
| | Total |
$1,551,896
| $1,900,615
| 1,408,558
| 1,267,069 | 1,459,783
| 1,717,968
| 1,757,171
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modest increase, wished i'd gotten numbers EOM, as usual..... but didn't record anything and most was down 1-2% today. Oh well! edited to correct last date - said 7/1 s/b 8/1 |
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Ombud
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Post by Ombud on Aug 9, 2023 16:19:03 GMT -5
Well that didn't last (for me anyway). Hope others are faring better
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Rukh O'Rorke
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Post by Rukh O'Rorke on Aug 9, 2023 19:02:23 GMT -5
Well that didn't last (for me anyway). Hope others are faring better lol it's been a rough week out there!! For sure! |
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Ombud
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Post by Ombud on Aug 31, 2023 14:47:38 GMT -5
Not a good month .... | Schwab Accts: | | % | | Previous: | 1,006,349
| | Stocks | 837,288
| 84.27%
| | Fixed Income | 156,190
| 15.73%
| | Current | 993,478
| | Difference | -12,871
| | YTD | 17.55%
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tcu2003
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Post by tcu2003 on Aug 31, 2023 19:34:35 GMT -5
We were on vacation at the end of July/beginning of August, so I didn't go back and look at our numbers for then until I did the August update today. And since our numbers went down slightly, I'll just report the August numbers.
Here is my August 2023 update:
ASSETS:
Checking/Savings: $214,693
House: $512,700
Retirement: $1,929,212
Brokerage: $64,460
529s: $102,101
DEBTS:
$0
Total NW: $2,823,166
As usual, the list above excludes our cars, which are worth around $30k combined, but I leave them out because we're unlikely to sell, and need them to get to/from work, kids schools, etc. in the land of suburbia.
DH is dangerously close again to 2 commas in his 401k, but not there yet. He hit it in late 2021 for a few months, and then things started tanking. So almost back there! I was above my all-time 401k high in July, but back under it again, so guessing I'll cross back over mine soon as well.
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