tcu2003
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Post by tcu2003 on Jan 1, 2024 22:40:41 GMT -5
We have similar cash hoarding patterns- I was more intentional this year about at least starting and actively contributing to a post-tax investment account, so cash isn’t up a huge amount, but it’s still up.
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azucena
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Post by azucena on Jan 2, 2024 8:53:08 GMT -5
Alicia - mind me asking your ages and if you have any kids? I've begun hoarding cash too and been meaning to post a thread about where to put it and next steps for wealth building. We are very close to you, ages 43/45, two kids, 10 and 15. Midwest, LCOL. For 2023, DH gross income $220,000. Bonus and RSUs $110,000. My income $0. Total gross income $330,000 I'm planning to circle back and send you a PM. Would be great to compare notes on college search, funding, and places to put future savings. |
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azucena
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Post by azucena on Jan 2, 2024 8:57:19 GMT -5
We have similar cash hoarding patterns- I was more intentional this year about at least starting and actively contributing to a post-tax investment account, so cash isn’t up a huge amount, but it’s still up. I added post-tax account too, but my work limits it to $10,500. I guess I should maybe add/start another outside of work but that seems like one more to do. We've only had DH putting in $60/biweekly into his 401k bc his fees are high, limited kinda crappy invst choices, and no company match. I asked him t to bump it to $200 this year. Having it go in pre-tax should way more than offset fees. With his income around $40k, he direct pays so little in taxes and we go back and forth btwn filing joint and separately depending on CPA's numbers. I definitely need to start an advice thread and get community feedback. |
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midjd
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Post by midjd on Jan 2, 2024 11:28:58 GMT -5
I’m with Archie—I’m proud of what I’ve accomplished but have had a lot of good fortune (and good timing) along the way.
1) Being able to buy a house at the bottom of the market
2) Staying steadily employed at a salary that has let me max all retirement accounts since 2012 (and qualified me for PSLF during the pandemic)
3) Staying married (divorce is expensive!)
4) Only having one kid (kids are expensive!)
My net worth was about -$140,000 when I joined YM in 2009. I think I crossed the $0 threshold in late 2011.
Jan 2024 $1,679,202
Jan 2023 $1,153,574 (big promotion mid-2023)
Jan 2022 $1,152,977
Jan 2021 $842,940 (student loans forgiven 12/2020)
Jan 2020 $518,423
Jan 2019 $353,939
Jan 2018 $366,625
Jan 2017 $221,237
Jan 2016 $193,790
Jan 2015 $137,248
Jan 2014 $95,789 (kid born 11/2013)
Jan 2013 $58,634
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Post by minnesotapaintlady on Jan 2, 2024 12:01:49 GMT -5
I know I have lots of advantages and luck, but I am also proud that I have been able to leverage that into financial security. That said, about 1/3 of my net worth is in company stock, which is a small/mid sized construction company and therefore carries a lot of risk. My net worth over the years as of Dec 31 of each year: 2005 - $90,900 2006 - $148,000 2007 - $178,700- married in Aug, bought house in Nov 2008 - $161,900 - first child born 2009 - $219,300 2010 - $348,500 2011 - $401,300 - second child born 2012 - $487,000 2013 - $589,200 2014 - $682,000 - third child born 2015 - $734,500 2016 - $897,600 2017 - $1,166,900 2018 - $1,336,800 2019 - $1,856,000 2020 - $2,231,800 2021 - $2,744,200 2022 - $2,625,400 2023 - $3,267,500 I remember being always right on your tail. Then you just turned on the turbo and left me in the dust.  |
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azucena
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Post by azucena on Jan 2, 2024 12:03:35 GMT -5
Wow, Archie and Mid, great updates. I didn't realize how much you'd each banked!
Right there with you on the blessings and luck. Awfully proud of DH and me for not spending too much of it!
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azucena
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Post by azucena on Jan 2, 2024 12:05:00 GMT -5
I know I have lots of advantages and luck, but I am also proud that I have been able to leverage that into financial security. That said, about 1/3 of my net worth is in company stock, which is a small/mid sized construction company and therefore carries a lot of risk. My net worth over the years as of Dec 31 of each year: 2005 - $90,900 2006 - $148,000 2007 - $178,700- married in Aug, bought house in Nov 2008 - $161,900 - first child born 2009 - $219,300 2010 - $348,500 2011 - $401,300 - second child born 2012 - $487,000 2013 - $589,200 2014 - $682,000 - third child born 2015 - $734,500 2016 - $897,600 2017 - $1,166,900 2018 - $1,336,800 2019 - $1,856,000 2020 - $2,231,800 2021 - $2,744,200 2022 - $2,625,400 2023 - $3,267,500 I remember being always right on your tail. Then you just turned on the turbo and left me in the dust. Stock options are a magical thing. I'm just starting to see my own turbo boost ignite. |
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steph08
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Post by steph08 on Jan 2, 2024 13:24:36 GMT -5
Assets
House $325,000.00
Me 401k $52,778.07
Me IRA $212,372.03
DH IRA $62,684.60
DH TSP $4,449.53
Savings $20,000.00
9 acres $27,000.00
DD1 529 $13,118.26
DD2 529 $10,112.50
SUV $40,000.00
Truck $48,000.00
$815,514.99
Liabilities
Mortgage $203,312.41
Truck Loan $28,097.45
SUV Loan $28,244.15
$259,654.01
Net Worth $555,860.98
I'm pretty happy with where we are, but I'm looking to significantly reduce vehicle debt this year and moving forward.
We make good money for the LCOL area we live in, but we also spend a lot, so I need to figure out a balance.
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azucena
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Post by azucena on Jan 2, 2024 13:50:05 GMT -5
Assets House $325,000.00 Me 401k $52,778.07 Me IRA $212,372.03 DH IRA $62,684.60 DH TSP $4,449.53 Savings $20,000.00 9 acres $27,000.00 DD1 529 $13,118.26 DD2 529 $10,112.50 SUV $40,000.00 Truck $48,000.00 $815,514.99 Liabilities Mortgage $203,312.41 Truck Loan $28,097.45 SUV Loan $28,244.15 $259,654.01 Net Worth $555,860.98
I'm pretty happy with where we are, but I'm looking to significantly reduce vehicle debt this year and moving forward. We make good money for the LCOL area we live in, but we also spend a lot, so I need to figure out a balance. FWIW, several years ago, we wiped out vehicle loans and haven't taken one since, and I think that was a tipping point for starting to save more. We also choose to spend less, buy used, and keep them a long time. It helps that we aren't car people. Will likely pull the trigger on something for DD15 to drive in a couple months. She turns 16 in July. Realized that it's best if she gets a lot of practice in 'her' vehicle instead of my mini-van. Have my eye out for Rav4 or Highlander in the $10-12k range as we've had great longevity with Toyotas. Haunting fb marketplace and seems doable for one several years old with 150k-175k miles on them. Will pay cash. |
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tcu2003
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Post by tcu2003 on Jan 2, 2024 17:16:26 GMT -5
Love the updates, archie and mid! And I'm right there with you on luck and good fortunes - DH isn't a spender, he's super handy around the house, and we've been fortunate to stay employed at good jobs over the years.
And yay for stock options, archie! 11 months after I was invited to the ownership group at my engineering firm, we switched to an ESOP, so while I did okay on the shares I had, it wasn't nearly the gain that others had who held onto stocks for longer, or what it might have been had we not flipped to an ESOP. That said, it's definitely the best move for our employees, and I'm looking forward to seeing what those are worth in 5-10 years once the rest of the company debt is paid off and we keep growing.
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tcu2003
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Post by tcu2003 on Jan 2, 2024 17:18:52 GMT -5
We have similar cash hoarding patterns- I was more intentional this year about at least starting and actively contributing to a post-tax investment account, so cash isn’t up a huge amount, but it’s still up. I added post-tax account too, but my work limits it to $10,500. I guess I should maybe add/start another outside of work but that seems like one more to do. We've only had DH putting in $60/biweekly into his 401k bc his fees are high, limited kinda crappy invst choices, and no company match. I asked him t to bump it to $200 this year. Having it go in pre-tax should way more than offset fees. With his income around $40k, he direct pays so little in taxes and we go back and forth btwn filing joint and separately depending on CPA's numbers. I definitely need to start an advice thread and get community feedback. I've taken advantage of the post-tax account through work the last couple of years, but 2023 was the last year they were offering it ($10k was their max). Boo. But we did also open a taxable account at Vanguard about 18 months ago, so I need to keep plugging away at that. I don't have it set up to auto invest, so maybe I should look at that this year. For now, I just move some money over when I think our cash is too high. But then never end up moving enough over to really offset our cash. |
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tcu2003
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Post by tcu2003 on Jan 2, 2024 17:19:32 GMT -5
We are very close to you, ages 43/45, two kids, 10 and 15. Midwest, LCOL. For 2023, DH gross income $220,000. Bonus and RSUs $110,000. My income $0. Total gross income $330,000 I'm planning to circle back and send you a PM. Would be great to compare notes on college search, funding, and places to put future savings. I'll be pinging you both about this in a few years since mine are 11 and 7!  |
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jan 2, 2024 18:40:34 GMT -5
I know I have lots of advantages and luck, but I am also proud that I have been able to leverage that into financial security. That said, about 1/3 of my net worth is in company stock, which is a small/mid sized construction company and therefore carries a lot of risk. My net worth over the years as of Dec 31 of each year: 2005 - $90,900 2006 - $148,000 2007 - $178,700- married in Aug, bought house in Nov 2008 - $161,900 - first child born 2009 - $219,300 2010 - $348,500 2011 - $401,300 - second child born 2012 - $487,000 2013 - $589,200 2014 - $682,000 - third child born 2015 - $734,500 2016 - $897,600 2017 - $1,166,900 2018 - $1,336,800 2019 - $1,856,000 2020 - $2,231,800 2021 - $2,744,200 2022 - $2,625,400 2023 - $3,267,500 I remember being always right on your tail. Then you just turned on the turbo and left me in the dust.  |
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myrrh
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Posts: 478
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Post by myrrh on Jan 3, 2024 17:03:44 GMT -5
Last year
1/4/2023
Roth $162,869.56
TIRA $33,975.03
457 $160,049.50
Taxable $56,660.73
Total $413,554.82
This year
12/30/2023
Roth $192,346.41
TIRA $35,761.60
457 $207,257.66
Taxable $69,128.78
Total $504,494.45
Contributions: $27,040 (457 and Roth)
It took two years to make my prediction of becoming a half millionaire and the 457 eclipsing the Roth true. Money feels tighter than ever, I didn't even contribute to the kid's 529s this past year because of unexpected expenses. I'm hoping to get a raise this year, we'll see.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jan 3, 2024 20:50:25 GMT -5
Last year 1/4/2023 Roth $162,869.56 TIRA $33,975.03 457 $160,049.50 Taxable $56,660.73 Total $413,554.82 This year 12/30/2023 Roth $192,346.41 TIRA $35,761.60 457 $207,257.66 Taxable $69,128.78 Total $504,494.45 Contributions: $27,040 (457 and Roth) It took two years to make my prediction of becoming a half millionaire and the 457 eclipsing the Roth true. Money feels tighter than ever, I didn't even contribute to the kid's 529s this past year because of unexpected expenses. I'm hoping to get a raise this year, we'll see. Yes it is tougher these days, but you're making progress!  |
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countrygirl2
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Post by countrygirl2 on Jan 16, 2024 0:43:24 GMT -5
We are on the spending down side. Retired 8 years going on 9, at $1,500,000 +- so won't be growing more and I expect it to go down. But at 77 it's ok. As hubs said that's what we saved it for, to live on in retirement years.
Congratulations to all of you doing so well, you will need it, believe me. I don't get the cheaper living in retirement deal.
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soupandstew
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Post by soupandstew on Jan 19, 2024 18:28:07 GMT -5
So many here have made amazing progress, and I am in awe of the dedication and sacrifices it took to be where you are. I personally never heard that living would be cheaper in retirement. For us, the spending categories changed a lot, and continue to do so. When we first retired, the big shift was that we no longer contributed to IRA's, 403b's, and such, but my insurance premiums (pre-Medicare) were astronomical. We did begin to travel, a luxury we could not enjoy with max 14 vacation days each working year, so that spending category went up. Now, in a later stage of retirement, we aren't traveling as much, so that category went down but our aging house requires more maintenance so that's gone up. During the work years, we needed tuxedos and evening gowns; that's behind us now.
It's obviously very different for those focused on creating a wealth legacy for their heirs. Perhaps that's why there is no cookie-cutter approach to wealth accumulation or retirement planning.
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Ombud
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Post by Ombud on Jan 31, 2024 12:53:50 GMT -5
January wasn't too shabby. Withdrew 11k for trip & insurance co-pay | Schwab Accts: | | % | | Dec 31, 2023: | 1,047,065
| | Stocks | 893,395
| 84.8%
| | Fixed Income | 159,430
| 15.2%
| | Current | 1,052,825
| | Difference | miniscule
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azucena
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Joined: Jan 17, 2011 13:23:14 GMT -5
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Post by azucena on Jan 31, 2024 12:57:24 GMT -5
January wasn't too shabby. Withdrew 11k for trip & insurance co-pay | Schwab Accts: | | % | | Dec 31, 2023: | 1,047,065
| | Stocks | 893,395
| 84.8%
| | Fixed Income | 159,430
| 15.2%
| | Current | 1,052,825
| | Difference | miniscule
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Where you going? And do share stories when you get back. Reading Mich's cruise stuff helps make retirement savings real to me! |
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Ombud
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Post by Ombud on Jan 31, 2024 13:06:31 GMT -5
January wasn't too shabby. Withdrew 11k for trip & insurance co-pay | Schwab Accts: | | % | | Dec 31, 2023: | 1,047,065
| | Stocks | 893,395
| 84.8%
| | Fixed Income | 159,430
| 15.2%
| | Current | 1,052,825
| | Difference | miniscule
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Where you going? And do share stories when you get back. Reading Mich's cruise stuff helps make retirement savings real to me! I fly to Sydney April 2nd, spend a few days there, then a slow cruise up to and around Japan. Will arrive home on April 28th! So excited 😁 |
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Rukh O'Rorke
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Post by Rukh O'Rorke on Feb 1, 2024 8:43:26 GMT -5
Update.....
| 08.31.2023 | 09.30.2023 | 11.01.2023 | 12.01.2023 | 12.31.2023 | 02.01.2024 | | 401k and rollovers | 1,528,917 | 1,434,154 | 1,319,318
| 1,490,478
| 1,548,069 | 1,466,132
| | Roth | 152,845 | 147,280 | 121,865
| 140,631
| 146,465
| 111,888
| | I-bonds | 34,754 | 34,899 | 35,172
| 35,291
| 35,395
| 35,491
| | Notes, Bills, TIPS | 6,500 | 6,000 | 5,500 | 5,000 | 4,500 | 4,500 | | Other: EF, ESOP, HSA | 7,445 | 6,149 | -2,080 | 5,270
| 6,815 | -8,619
| | Total | 1,730,961 | 1,628,482 | 1,479,775
| 1,676,670
| 1,741,244 | 1,609,391
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Been knowing was going to be a negative update for me for last week or so.....Glad I at least held the 1.6 number.....but market is going to open soon, so who knows? |
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Rukh O'Rorke
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Post by Rukh O'Rorke on Feb 1, 2024 9:45:53 GMT -5
whew! market up so far today!
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Post by minnesotapaintlady on Feb 1, 2024 10:47:07 GMT -5
Creeped up a little, but I'm going to be bleeding money this year starting very soon. The cash and 529 lines are going to take a huge hit and the debt is going to go up when I add the HELOC. But, for this month. It's all still good. Meanwhile I'm in our corporate meeting and it's sounding a little ugly. Merit schedule changes, only partial bonus, hiring freeze... Mortgage - $71,986 CC debt - $5180 Total Debt $77,166Cash and Savings - $52,537 529s - $67,276 Retirement - $951,548 House - $300,000 Total Assets $1,371,361Net Worth $1,294,195
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Rukh O'Rorke
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Post by Rukh O'Rorke on Feb 1, 2024 14:51:05 GMT -5
Creeped up a little, but I'm going to be bleeding money this year starting very soon. The cash and 529 lines are going to take a huge hit and the debt is going to go up when I add the HELOC. But, for this month. It's all still good. Meanwhile I'm in our corporate meeting and it's sounding a little ugly. Merit schedule changes, only partial bonus, hiring freeze... Mortgage - $71,986 CC debt - $5180 Total Debt $77,166Cash and Savings - $52,537 529s - $67,276 Retirement - $951,548 House - $300,000 Total Assets $1,371,361Net Worth $1,294,195
looks like you are over the 1M mark on liquid assets!  Good luck on the job front! |
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ners
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Post by ners on Feb 1, 2024 21:50:07 GMT -5
Update - Net worth about the same.
Assets
Cash 25,514.03
Retirement 191,898.13
House 80,000.00
Car 1,250.00
Stock 7,594.08
HSA 6,651.19
Total Assets 312,907.43
Liabilities
Mortgage 48,701.75
Helco 2,333.26
Total Liabilities 51,035.01
Net Worth $261,872.42
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tcu2003
Senior Member
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Post by tcu2003 on Feb 3, 2024 15:30:28 GMT -5
January 2024 update:
ASSETS:
Checking/Savings: $227,066
House: $675,000 (finally upped this to be closer to market value; I lasted updated it in 05/21, so it's definitely gone up since then)
Retirement: $2,104,914
Brokerage: $74,263
529s: $111,529
DEBTS:
$0
Total NW: $3,192,772
As usual, the list above excludes our cars, which are worth around $28k 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% this month, but most of that is because I revised our house value to be closer in line to what we'd get if we sold it.
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steph08
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Post by steph08 on Feb 4, 2024 17:01:34 GMT -5
Assets
House $325,000.00
Me 401k $55,924.85
Me IRA $215,013.48
DH IRA $63,685.99
DH TSP $5,079.89
Savings $20,000.00
9 acres $27,000.00
DD1 529 $13,657.53
DD2 529 $10,640.90
SUV $40,000.00
Truck $48,000.00
$824,002.64
Liabilities
Mortgage $200,963.70
Truck Loan $27,397.45
SUV Loan $27,639.73
$256,000.88
Net Worth $568,001.76
After all this time, we are finally one-third-millionaires in our retirement accounts. Woohoo!
Still working on reducing car payments. We will keep DH's truck, but I'm going to get something different / cheaper, just not sure what yet.
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Post by minnesotapaintlady on Feb 22, 2024 22:39:44 GMT -5
I have to post this today because tomorrow it will probably be gone. Retirement accounts have TWO COMMAS now! Just barely. $1,004,785.00
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azucena
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Post by azucena on Feb 23, 2024 11:27:46 GMT -5
I have to post this today because tomorrow it will probably be gone. Retirement accounts have TWO COMMAS now! Just barely. $1,004,785.00 Woot, woot! Made me go look at mine which I never do. I'm up 5% YTD. Winning! |
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Rukh O'Rorke
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Post by Rukh O'Rorke on Feb 23, 2024 14:00:14 GMT -5
I have to post this today because tomorrow it will probably be gone. Retirement accounts have TWO COMMAS now! Just barely. $1,004,785.00 woohoo!!!! whens the party?  |
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