WIR Net Worth Board

[minnesotapaintlady]

I probably won't max my 401K this year because they keep raising the bar and this year I was eligible to up HSA to $9300/year too.  401K is currently set to 46% and will probably end up being about 27K of the available 30K. 

I thought about just cutting back to the match until the end of 2025 (then I have financial aid to worry about again), but it would be SO expensive to do so. We're talking I get $300-$400 back in Earned Income and State credits for every $1000 I put in 401K.  It's basically how I've funded my Roth the past 10 years or so.

[ners]

Update


Assets



Cash                    26,707.98
Retirement          206,460.12
House                  80,000.00
Car                        1,000.00
Stock                     8,579.57
HSA                       6,743.98

Total Assets         329,491.65


Liabilities

Mortgage               47,410.65


Total Liabilities        47,410.65


Net Worth             282,081.00

Happy with the progress Hoping this direction continues.

[aricia]

7/1/2024

Assets:

House: $300,000+

Cash: $395,000

I bonds: $300,000

Brokerage: $320,000

401k/IRAs: $1,740,000

HSA: $50,000

529s: $90,000

Cars (5): $60,000


Net worth: $3,255,000

Bought a new (to us) car, haven’t sold the old one yet. One more new car coming our way, will keep the one it is replacing for DD to drive.

[Rukh O'Rorke]

Update.....

	08.31.2023	05.01.2024	06.01.2024	06.29.2024	07.03.2024
401k and rollovers	1,528,917	1,494,750	1,605,348	1,718,654	1,833,645
Roth	152,845	107,175	105,829	116,578	139,509
I-bonds	34,754	35,808	35,917	39,017	39,017
Notes, Bills, TIPS	6,500	4,500	4,500	4,500	4,500
Other: EF, ESOP, HSA	7,445	-22,902	-12,985	-6,849	1,380
Total	1,730,961	1,619,331	1,738,608	1,871,899	2,018,051

If you all will indulge me for an additional update! I want to document this milestone, and I am not very hopeful it will last until next month! Sometimes, it felt like I would never get back here, despite it feeling like I was shovelling loads and loads of new money into the accounts!

[Ombud]

This month has been brutal and yet ....

Schwab Accts:	%
June 30th:	1,154,187
Stocks
Fixed Income
Current	1,155,201
Difference	+1014??

I didn't break it into stocks / fixed income as it's too close to count. Plus I'll never have multiple 7 digits (unless I count my paid off house under prop 13) but then my pension is greater than SSA will be so my $$s will primarily go to beneficiaries. At least I don't owe anyone right now

[Rukh O'Rorke]

Update.....

	08.31.2023	05.01.2024	06.01.2024	06.29.2024	07.03.2024	07.31.2024
401k and rollovers	1,528,917	1,494,750	1,605,348	1,718,654	1,833,645	1,775,686
Roth	152,845	107,175	105,829	116,578	139,509	135,634
I-bonds	34,754	35,808	35,917	39,017	39,017	39,017
Notes, Bills, TIPS	6,500	4,500	4,500	4,500	4,500	4,500
Other: EF, ESOP, HSA	7,445	-22,902	-12,985	-6,849	1,380	1,318
Total	1,730,961	1,619,331	1,738,608	1,871,899	2,018,051	1,956,271

I knew it wouldn't last until the usual update time! Still, I am well ok with the current balance!

Everyone should be up somewhat over the past month! Although - down a bit from midmonth, based on SP500 charting....been quite a ride this month for sure!!

[minnesotapaintlady]

Well, despite debt growing and paying Carrot's tuition for next year in full last week, NW still hit an all-time high. Need to do something about the cluster f#$% in red though.

Mortgage - $69,614

HELOC - $40,100 (6.49% until November)

Greensky (water mitigation system) - $14,496 (0% until May 2025)

Citi Card (Moved some of HELOC) - $7210 (0% until March 2026)

Discover (Winter LP) - $795 (0% until Oct 2025)

Total Debt $132,215

Cash and Savings - $12,235
529s - $64,149
Retirement - $1,114,554
House - $350,000

Total Assets $1,540,938

Net Worth  $1,408,723

[Rukh O'Rorke]

Aug 1, 2024 9:22:56 GMT -5 minnesotapaintlady said:

Well, despite debt growing and paying Carrot's tuition for next year in full last week, NW still hit an all-time high. Need to do something about the cluster f#$% in red though.

Mortgage - $69,614

HELOC - $40,100 (6.49% until November)

Greensky (water mitigation system) - $14,496 (0% until May 2025)

Citi Card (Moved some of HELOC) - $7210 (0% until March 2026)

Discover (Winter LP) - $795 (0% until Oct 2025)

Total Debt $132,215

Cash and Savings - $12,235
529s - $64,149
Retirement - $1,114,554
House - $350,000

Total Assets $1,540,938

Net Worth  $1,408,723

yay to the ATH on NW!!

That is the most important, although I can attest to the ongoing worry of the debt side of the equation. Bring the red over to the red racers?

[minnesotapaintlady]

Aug 1, 2024 10:17:37 GMT -5 Rukh O'Rorke said:

Aug 1, 2024 9:22:56 GMT -5 minnesotapaintlady said:

Well, despite debt growing and paying Carrot's tuition for next year in full last week, NW still hit an all-time high. Need to do something about the cluster f#$% in red though.

Mortgage - $69,614

HELOC - $40,100 (6.49% until November)

Greensky (water mitigation system) - $14,496 (0% until May 2025)

Citi Card (Moved some of HELOC) - $7210 (0% until March 2026)

Discover (Winter LP) - $795 (0% until Oct 2025)

Total Debt $132,215

Cash and Savings - $12,235
529s - $64,149
Retirement - $1,114,554
House - $350,000

Total Assets $1,540,938

Net Worth  $1,408,723

yay to the ATH on NW!!

That is the most important, although I can attest to the ongoing worry of the debt side of the equation. Bring the red over to the red racers?

In reality, the bottom three lines I have a plan for and they should be gone in about a year and a half with no interest on any of them.  It's the HELOC that isn't working for me and has to go.  Just not sure how I want to go about it yet. 

[tcu2003]

Whoops...realized I haven't updated here for a few months.

July 2024 update:

ASSETS:
Checking/Savings: $253,430
House: $675,000
Retirement: $2,474,629
Brokerage: $89,095
529s: $138,009
ESOP: $22,136

DEBTS:
$0

Total NW: $3,652,299

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.

I added in the value of DH's and my ESOP accounts. We're at the same employer, and the company switched to an ESOP in 2022, so it's a very young ESOP, and expectations are that this will significantly increase over the next 10 years, especially as we'll continue to get stock annually. That said, it'll only update each July as that's when we find out the new share price. 

We are up about 1% over last month (about 7.5% since I last updated), but based on the market and taking a large vacation (to us, at least), no complaints here. 

[Rukh O'Rorke]

sounds like all is going well tcu2003! kudos!

[ners]

Update

These numbers are from August 1.  Happy with the progress.  Hope it continues.

Assets



Cash                26,779.12
Retirement      213,173.48
House              80,000.00
Car                    1,000.00
Stock                 8,699.50
HSA                 $6,943.98
Total Assets     336,596.08

Mortgage           47,180.92


Total Liabilities   47,180.92



Net Worth       $289,415.16

 

[Ombud]

Ok. Need another account for the 4 littlest GKs. 18F (only 1 living with me), 11M, 10F, 8F. 18F is off to college next weekend. Despite filling out FAFSA, every scholarship she could find, borrowing $1750 per semester, and starting an online business she's still short $1350 this semester assuming $900 books. She's filled out job applications but doesn't drive so I guess I'm paying the $1350 shortage but have visions of what it'll look like when those last 3 go.

Just started another account, reinvesting all dividends & will pay taxes with my tax return to have more control, 25% to each on their graduation to hopefully pay off highest interest rate loan. Right now only:
125sh SCHB
200sh PWZ (taxfree)

[Ombud]

Schwab Accts:	%
July 30th:	1,155,201
Stocks	1,039,319	87%
Fixed Income	152,868	13%
Current	1,192,187
Difference	+36,986

College:
125 SCHB
200 PWZ
$1350 which is what she was short after scholarships + 1 loan hit. So she'll be short that in Spring as well


I want to be 15% cash / cds / bonds so I'm out of whack.

[minnesotapaintlady]

A little early for the update, but nothing will change between now and Sunday.

This past month was rough. I finally sucked it up and did what I needed to do which was raid my retirement and 529 savings to pay down some debt. I hated doing it, especially since I was so close to my FI number, but I think it was my best option outside of take a second job which at this point in my life I don't want to do unless I have no choice. I took out a 22K 401K loan (which I'm not going to count as debt since I'm paying myself back), 20K out of my Roth IRA ad 10K non-qualified 529 withdrawal. I also withdrew another 10K from the 529 to pay off DS's student loans.  So lots of money shifting around. Still sitting on the 10K 529 withdrawal and am trying to decide what to do with it.

Mortgage - $69,614

HELOC - $40,100 (6.49% until November)

Greensky (water mitigation system) - $13,842 (0% until May 2025)

Citi Card (Moved some of HELOC) - $7210 (0% until March 2026)

Discover (Winter LP) - $795 (0% until Oct 2025)

Total Debt $90,666

Cash and Savings - $23,585
529s - $45,864
Retirement - $1,096,232
House - $350,000

Total Assets $1,515,681

Net Worth  $1,425,015  (another all-time high by 16K!)

 

[Rukh O'Rorke]

Aug 30, 2024 19:09:22 GMT -5 minnesotapaintlady said:

especially since I was so close to my FI number

what is your number?? I thought you mentioned you were about 5 years away from retirement?

another all-time high by 16K!

woohoo!!!

[minnesotapaintlady]

Aug 30, 2024 21:14:14 GMT -5 Rukh O'Rorke said:

Aug 30, 2024 19:09:22 GMT -5 minnesotapaintlady said:

especially since I was so close to my FI number

what is your number?? I thought you mentioned you were about 5 years away from retirement?

1.2 Million.  48K/year with a 4% draw.

[Rukh O'Rorke]

Update.....

	08.31.2023	05.01.2024	06.01.2024	06.29.2024	07.03.2024	07.31.2024	08.30.2024
401k and rollovers	1,528,917	1,494,750	1,605,348	1,718,654	1,833,645	1,775,686	1,790,160
Roth	152,845	107,175	105,829	116,578	139,509	135,634	124,731
I-bonds & notes,bills	41,254	40,308	40,417	43,517	43,517	43,417	44,244
Other: EF, ESOP, HSA	7,445	-22,902	-12,985	-6,849	1,380	1,318	-1,827
Total	1,730,961	1,619,331	1,738,608	1,871,899	2,018,051	1,956,271	1,957,307

Up just very slightly this month...less than my contributions actually.....

Better than down, of course!

the treasuries are just going to cash out slowly over time, I had originally put them on their own line as I thought I'd be adding monthly to it. But instead they are just going to dwindle away as I'm not as flush as I once was! So combining with ibonds, and will try to direct that money into the ibonds as much as possible.

[snapdragon]

I am doing decent and am still happy with a majority of my money earning interest or dividends. 

Spent just over 20K (including taxes, fees and insurance) for a new to me 2nd vehicle. It took several weeks but I am really content with my 2006 Honda Ridgeline with under 70K miles. Filling up the gas tank after being used to the smaller tank in the Focus is a different matter entirely. But Ridge is for hauling, major grocery or home improvement runs. The Focus is for all my usual driving and getting around.  

[Rukh O'Rorke]

Aug 30, 2024 22:15:34 GMT -5 minnesotapaintlady said:

Aug 30, 2024 21:14:14 GMT -5 Rukh O'Rorke said:

what is your number?? I thought you mentioned you were about 5 years away from retirement?

1.2 Million.  48K/year with a 4% draw.

will you still work 5 more years though?

what if you get to 1.5M? will you quit early then?

[minnesotapaintlady]

Aug 31, 2024 11:48:07 GMT -5 Rukh O'Rorke said:

Aug 30, 2024 22:15:34 GMT -5 minnesotapaintlady said:

1.2 Million.  48K/year with a 4% draw.

will you still work 5 more years though?

what if you get to 1.5M? will you quit early then?

My original plan was retiring at 59.5 which is a little less than 4 years from now. I will not quit working before then no matter what the accounts get to (unless something happens that I have to).  Might not even quit then depending on what my younger son's plans are.  He will have just graduated high school so there's a lot of unknowns yet.

[tcu2003]

August 2024 update:

ASSETS:
Checking/Savings: $253,196
House: $675,000
Retirement: $2,539,555
Brokerage: $107,667
529s: $144,198
ESOP: $22,136

DEBTS:
$0

Total NW: $3,741,752

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 are up about 2.25% over last month.

[tcu2003]

DH and I also need to figure out what our next goals are and what we want to do with excess cash. It's too high, even by our too-conservative standards. We're in a super lucky position. We're each maxing our 401ks (DH is oldest and only 48, so still a couple of years before one of us can do the catch-up) and backdoor Roths. We've funded the kids 529s each to the max that we get a credit for on our state income taxes, and looks like both kids should be more than covered for any in-state tuition school (and likely okay for many out-of-state tuition options). I haphazardly put money in our brokerage accounts (this month I put in $10k from savings, and our cash ended up being even from last month to this month). 

It feels like the right answer is to likely just chunk over $40k or something like that from savings to brokerage, but for some (stupid) reason, that makes me nervous. No idea why, though. Someone just tell me to do it! Or give me a better idea! Honestly, part of my hesitance is likely that I'm doing this solo, based on what I've picked up here and elsewhere over the past 20-ish years. So maybe baby step 1 is to meet with someone. Or maybe not since it seems like what I'm doing is working (with lots of luck like good health, degrees that paid off, no job loss, etc). 

[azucena]

Fwiw, I've been trying to move my cash savings into 5% cds in 5 or 10k increments as our cash builds up. At least then I feel like it's earning something.

I think you drop $500-$800 on fee for service investment/financial advice. Ameriprise is who I used. They confirmed my current and 5 yr game plan based on my stated goals and helped reallocate assets to match my risk tolerance and retirement timeline.

Me personally, I'd consider retiring earlier if I had $3M+ if I could figure out Healthcare. My current plan is 60 and my HRA will be about a yr short of funding DH anf I to Medicare elig at 65 which I would make up in cash.

[Annie7]

As of 8/31/2024:

Cash: $84,026.91
Retirements: $1,106,132.25
HSA: $82,083.08
Pension: $124,873.43
Home: $1,014,200
Total Assets: $2,411,315.67

Mortgage: $233,917.39

Net Worth: $2,177,398.28


My networth was $1,394,138 at the end of 3/31/2021. So, nearly a million increase in 3.5 years. But about $300K of the increase is in the value of the house.

Jun 3, 2024 16:09:35 GMT -5 Annie7 said:

As of 5/31/2024:

Cash: $84,749.09
Retirements: $1,035,357.91
HSA: $75,896.42
Pension: $121,649.07
Home: 1,001,000
Total Assets: $2,318,652.49

Mortgage: $238,682.24

Net Worth: $2,079,970.25

I feel like this is not realistic since nearly half of my networth is in the value of my home. That seems so fickle. I think I have to work until 60 to retire (currently 53). The retirement calculator at Fidelity also says that I need to work until 60.

[tcu2003]

Sept 1, 2024 20:24:07 GMT -5 azucena said:

Fwiw, I've been trying to move my cash savings into 5% cds in 5 or 10k increments as our cash builds up. At least then I feel like it's earning something.

I think you drop $500-$800 on fee for service investment/financial advice. Ameriprise is who I used. They confirmed my current and 5 yr game plan based on my stated goals and helped reallocate assets to match my risk tolerance and retirement timeline.

Me personally, I'd consider retiring earlier if I had $3M+ if I could figure out Healthcare. My current plan is 60 and my HRA will be about a yr short of funding DH anf I to Medicare elig at 65 which I would make up in cash.

I'm not opposed to retiring early, but I like my job (most days), get paid fairly well, and for the moment, still want my boss' job (well, sort of - I actually hope I grow my group enough to where we add another sector and I get to lead that one so I'd be a peer to my boss). As long as I'm enjoying work, and am still relatively young, I want to work, but am okay if that changes in the future. And agreed on healthcare - that'll be a major deciding factor. DH will likely retire when M graduated high school or is in her first year of college. C should be graduating college about that time, so hopefully one kid will be close to self-supporting. I definitely like that we should have the option if things go haywire with our work situations. 

There's a local firm that I know several senior/executive leaders use, so maybe I'll check that out to get a review of our finances. I've done the free option through our 401k brokerage firm, and it was fine, but basically we were told that we're way ahead of our peers, and the monte carlo analysis they did shows we will almost certainly not run out of money if we retire at 60. Though it's been a few years, so guessing it is only a stronger position now.

Thanks for letting me ramble - I don't have a ton of IRL people to talk to about this. Mostly it's my boss and my former boss who I both still work with, as they are in similar positions, just older. Former boss could walk away at any time, and current boss also could, but for now, both like their jobs and people they work with so want to stick around. 

[minnesotapaintlady]

Sept 1, 2024 15:13:40 GMT -5 tcu2003 said:

DH and I also need to figure out what our next goals are and what we want to do with excess cash. It's too high, even by our too-conservative standards. We're in a super lucky position. We're each maxing our 401ks (DH is oldest and only 48, so still a couple of years before one of us can do the catch-up) and backdoor Roths. We've funded the kids 529s each to the max that we get a credit for on our state income taxes, and looks like both kids should be more than covered for any in-state tuition school (and likely okay for many out-of-state tuition options). I haphazardly put money in our brokerage accounts (this month I put in $10k from savings, and our cash ended up being even from last month to this month). 

It feels like the right answer is to likely just chunk over $40k or something like that from savings to brokerage, but for some (stupid) reason, that makes me nervous. No idea why, though. Someone just tell me to do it! Or give me a better idea! Honestly, part of my hesitance is likely that I'm doing this solo, based on what I've picked up here and elsewhere over the past 20-ish years. So maybe baby step 1 is to meet with someone. Or maybe not since it seems like what I'm doing is working (with lots of luck like good health, degrees that paid off, no job loss, etc). 

Do it!


I'd be twitchy with that much sitting in cash. Even the money market accounts at Vanguard and Fidelity are paying close to 5% so at least park it there. Ladder some CDs if you want 100% safe but still making money.

[ners]

Update

Assets
Cash                26,839.78
Retirement      218,158.13
House               80,000.00
Car                    1,000.00
Stock                 8,897.00
HSA                   7,124.31
Total Assets     342,019.22

Liabilities
Mortgage           46,049.06

Net Worth        295,068.26
Moved in the correct direction again.  Hope this continues.

[aricia]

Sept 1, 2024 15:13:40 GMT -5 tcu2003 said:

DH and I also need to figure out what our next goals are and what we want to do with excess cash. It's too high, even by our too-conservative standards. We're in a super lucky position. We're each maxing our 401ks (DH is oldest and only 48, so still a couple of years before one of us can do the catch-up) and backdoor Roths. We've funded the kids 529s each to the max that we get a credit for on our state income taxes, and looks like both kids should be more than covered for any in-state tuition school (and likely okay for many out-of-state tuition options). I haphazardly put money in our brokerage accounts (this month I put in $10k from savings, and our cash ended up being even from last month to this month). 

It feels like the right answer is to likely just chunk over $40k or something like that from savings to brokerage, but for some (stupid) reason, that makes me nervous. No idea why, though. Someone just tell me to do it! Or give me a better idea! Honestly, part of my hesitance is likely that I'm doing this solo, based on what I've picked up here and elsewhere over the past 20-ish years. So maybe baby step 1 is to meet with someone. Or maybe not since it seems like what I'm doing is working (with lots of luck like good health, degrees that paid off, no job loss, etc). 

What I do is take the money I’m semi-willing to invest and move it the brokerage cash position. Then I set automatic investments monthly so the whole amount will be in the market within a year. If I add more money to the account, I increase the automatic investments so it’s always invested within a year. And while it’s sitting in cash, at least it’s getting the ~5% like MPL pointed out.

[countrygirl2]

We are in worse condition then we have been in for years.

Total Investments               $570,193

Houses and I'm low balling     350,000              listed for sale at $499,000
Other Ind house                      80,000              will list at $110 as is or $140 with things fixed
Wa modular                             70,000              listed for $129,000 right now
Our newest house                   300,000              paid $290,000 cash in July, good price and would resell, 2 houses here went up for sale at this price range
                                                                       and sold in 3 days since we moved in, good safe area, lovely gated community, over 55 only

 Total  houses                        $800,000

  Total All                            $1,370,193 

Debt                                    $           0               Retired 10 years now

2 cars 2020 Buick Envision, 2020 Ford F-150 not added in


I hope the housing market doesn't crash like it did years ago. We bought a house here before selling, mistake I'm sure, but its done. Way, way top heavy in real estate, not by intent.

We are making this house energy efficient too, but bills here are not cheap. But we are ok. If the rates go down and after election may be able to sell. If the guy gets in we could be screwed, time will tell.