WIR Net Worth Board

[azucena]

Not net worth but related. My W-2 showed a significant milestone that I didn't realize I'd reached...gross income including bonus topped $200k for the first time. Dh and I just sat and stared at it in awe thinking about how far we've come. He said this is huge and sad that we can't share the news with anyone.

Thanks for being a safe place WIR.

[buystoys]

Congratulations azucena!  That's a HUGE milestone to reach!

[minnesotapaintlady]

I'm fast-forwarding and pretending it's Monday and the mortgage is paid. Nothing else will change before then.

Mortgage - $89,941
CC debt - $0

Total Debt $89,941

Cash and Savings - $57,040
529s - $63,230
Retirement - $643,822
House - $300,000

Total Assets $1,064,092

Net Worth $974,151 (increase of $640 since 1/1/21) Woohoo! It stayed positive.

[ners]

January 2021


Assets

Cash              $16,927.50
Retirement    $169,460.12
House             $80,000.00
Car                  $4,300.00
Stock               $6,240.96
HSA                 $5,667.39


Total Assets   $282,595.97


Liabilities

Mortgage        $54,902.26
Helco              $12,432.17
Car                  $6,680.10

Total Liabilities $74,014.53
 

Net Worth 208,581.44

Increase of 2237.00

[tcu2003]

Congrats, azucena!! That is huge and I am so happy for you - what an awesome milestone!!

[tcu2003]

January 2021 Update:

Checking/Savings: $164k
House: $428k
Retirement: $1.614M
Brokerage: $4.9k
529s: $55.5k

Total NW: $2,267,152

We're up a whopping 0.54% since last month...we'll see what the stock market does this year!

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.

Notes for me to look back on - we started a major home improvement project this month to finish out most of our unfinished basement, so lots of money has been spent at the home improvement store. DH is doing the work himself, so labor costs are low (though this will also mean that at some point we'll get very annoyed with each other...more than likely more than once...), but the materials are still not cheap. We also decided not to send DS to the daycare's summer program, so I had to prepay for a bunch of summer day-camp stuff for him this month for the first time, so his summer care is mostly paid for, minus a couple weeks where I'm still ironing out possible vacation plans.

[minnesotapaintlady]

I posted this on YM yesterday, but I broke the million mark!  Barely.  It won't take much of a market blip to wipe it out and then some.

Mortgage - $88,846
CC debt - $0

Total Debt $88,846

Cash and Savings - $69,802
529s - $63,852
Retirement - $662,904
House - $300,000

Total Assets $1,096,558

Net Worth $1,007,712 (increase of $33,561 since 2/1/21)

[ners]

February 2021


Cash              $16,964.04
Retirement    $172,564.61
House            $80,000.00
Car                  $4,150.00
Stock               $6,431.94
HSA                 $5,967.67

Total Assets   $286,078.26



Mortgage        $54,752.78
Helco              $12,262.61
Car                  $6,497.79

Total Liabilities $73,513.18


Net Worth      $212,565.08

Increase of almost 4000.00 for the month

[tcu2003]

YAY, msp!! So excited for you!! 

[tcu2003]

February 2021 Update:


Checking/Savings: $166k
House: $428k
Retirement: $1.669M
Brokerage: $5k
529s: $57.6k

Total NW: $2,325,210

We're up 2.56% since last month, which is better than last month's percentage change!

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.

Notes for me to look back on:

We are in the middle of our major home improvement project this month to finish out most of our unfinished basement, so lots of money has been spent at the home improvement store. 

[shanendoah]

Update takes into account tomorrow's mortgage payment, but not tomorrow's paycheck and subsequent retirement account distributions. Getting paid every 2 weeks again is still throwing me off in little ways (after 6.5 years of getting paid 2x/month). And even with some hits in the last month in investment accounts, we're up another $40k from January. A lot of that is still house appreciation due to this market, but I'll take it.

Age: Shanendoah- 45;  C-46
Income: ~$124k/yr 

Mortgage: $515,076
Car Note: $30,025
Furnace: $4,873
Debts Total: $553,974

Savings: $13,811
S Retirement Accounts: $274,382
C Retirement Accounts: $39,748
House: $782,350
Timeshare: $1,500
Car: $30,000
Assets Total: $1,141,791

Net Worth: $587,816
Previous : $543,619
Change: $44,197

[buystoys]

Ages: 57/64

Retired on disability

Dec 31 update                   Mar 31 update

IRA/Roth: $1016K            $1021K
Cash: $86k                         $100k
House value: $165k           $209k
Rental value: $100k           $100k
House mortgage: -$80k     -$78k
Total: $1.287m                   $1.352m

DH pension: $12.5k
DH SSDI: $21k
Me SSDI: $30k

I took the Zillow price for our house as it's lower than the bank price.  I know what our neighbor's house sold for and the Zillow price is right in that ball park.  We've already paid for our major project this year, so there shouldn't be a lot of movement in the numbers that's not directly related to the stock market.

[ners]

Update


Cash $19,627.44

Retirement $176,093.76

House $80,000.00

Car $4,000.00

Stock $6,589.79

Health Savings Account $6,228.51

Total Assets $292,539.50



Mortgage $54,602.61

Helco $12,098.51

Car $6,315.64


Total Liabilities $73,016.76


Net Worth $219,522.74

Due to stimulus and tax refund a nice increase in net worth of 6900

[tcu2003]

March 2021 Update:

ASSETS:
Checking/Savings: $135k
House: $428k
Retirement: $1.688M
Brokerage: $5k
529s: $58.7k
Company Stock: $205k

DEBTS:
Company Stock Loan (to shareholder I'm buying stock from, at 0.52% for 7 years): $175k

Total NW: $2,345,300

We're up 0.85% since last month.

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.



Notes for me to look back on:

As seen above, I had to pay the down payment on my company stock this month to officially join the shareholder group, and owe the equivalent of some mortgages to the shareholder I'm buying my shares from. But since I just bought, it's more or less a net zero for me as they're worth what I paid for them (they evaluate stock prices quarterly, so it'll probably go up slightly soon, but it takes our CFO a bit to figure that out).

DH is also still shelling out money left and right for the basement remodel. Slight exaggeration, but that's what it seems like to me.

[minnesotapaintlady]

Update for April.

Mortgage - $87,747
CC debt - $0

Total Debt $87,747

Cash and Savings - $69,802
529s - $64,608
Retirement - $691,977
House - $300,000

Total Assets $1,130,558

Net Worth $1,042,811 (increase of $35,099 since 3/1/21)

As a side note, I'm been car shopping (which I'm hating tremendously), so this might take a hit soon. 

[Rukh O'Rorke]

Apr 1, 2021 8:09:37 GMT -5 minnesotapaintlady said:

Update for April.

Mortgage - $87,747
CC debt - $0

Total Debt $87,747

Cash and Savings - $69,802
529s - $64,608
Retirement - $691,977
House - $300,000

Total Assets $1,130,558

Net Worth $1,042,811 (increase of $35,099 since 3/1/21)

As a side note, I'm been car shopping (which I'm hating tremendously), so this might take a hit soon. 

Just make sure you keep the double comma action going on!!

I am down, so no excitement to post. I guess I should cuz EOQ? Sigh......I prefer to only post new highs, but - this could be a while.....

[minnesotapaintlady]

Apr 1, 2021 11:10:56 GMT -5 Rukh O'Rorke said:

Apr 1, 2021 8:09:37 GMT -5 minnesotapaintlady said:

As a side note, I'm been car shopping (which I'm hating tremendously), so this might take a hit soon. 

Just make sure you keep the double comma action going on!!

Right?  This is totally playing into my shopping.  How much would it suck to lose millionaire status because of a Honda?

[Rukh O'Rorke]

Dec 31, 2020 11:13:06 GMT -5 Rukh O'Rorke said:

Happy and prosperous New Year everyone!!

End of year accounting, and feel like I'm ringing in the new year on a fantastic financial footing. Will try to extend that to other areas in life in 2021.



                                       September 28     November 4      November 24           December 31
Roths                               130,568.03         138,188.33        150,872.28               169,155.11
401k and Rollovers            995,183.56      1,016,815.58      1,122,928.04           1,287,553.45
Other: EF, ESOP, HSA          45,291.93           49,249.66           53,084.56               44,358.38

Total Liquid                    1,171,043.52      1,204,253.57       1,326,884.88          1,501,066.94

Have I really not updated in over 3 months? Weird.

Will start a table for 2021 to keep it neater...

	April 2 2021
401k and rollovers	$1,304,844.84
Roth	$197,893.19
Other: EF, ESOP, HSA	$49,159.49
Total	$1,551,897.52

I guess I am up 50k from first of year. It had shot up at end of Jan so I was just looking at it as a general loss for the past two months - I guess that is why you don't check too often?

so one thing - it looks like I vested in new company's 401k match. You only need to work 900 hours in your 3rd year to vest, so not on the anniversary. That is about 19k, but it will be more fun to watch it grow with each match becoming immediately mine.....

but ya, the 50k increase is mostly new month, not a lot of growth. It is good though to have tesla calm down for a bit. Felt like funny money.

Roth balance went up, so that is good. Not adding anything new there....

[Annie7]

I would like to participate too. Got divorced in Nov and we kept each of our retirements. I got the marital house he got the two investment properties. I took over DS1's parent plus loan and DS2 is still in college and we are sharing the cost.

Age - almost 50 
Income - $154K

Assets:               3/31/2021
Cash                     $61,200

Retirements           $785,811

HSA                      $42,864

Pension                 $156,547

Home                   $712,410

Total Assets     $1,758,832





Liabilities:
Mortgage               $298,942

Car                       $4,880

DS2 Tuition            $32,000

DS1 Parent Loan    $28,872

Total Liabilities     $364,694





Net Worth $1,394,138

[Rukh O'Rorke]

Welcome Annie!!

[cktc]

Quarterly update 4/2/21
Ages: 37, 37, 5 and 3
Income: ~$156k

Omitting: DH pension, 529s, and Car values. Using lowest online estimate for home value.

Savings: $47,253
IRA: $110,632
DH 401k: $94,484
Investment: $12,625
House Value: $382,549
Total Assets: $647,563

Mortgage: $233,683
Car Loan: $0
Total Liabilities: $233,683
Net Worth: $413,880 up $54,416 (~15.14%) from last quarter ($359,464)

[Lizard Queen]

Sept 1, 2020 14:43:52 GMT -5 Lizard Queen said:

I guess we're at about $750k now. Market gains plus no commuting or daycare costs.

Update from this 9-1-2020 post. Current NW ~ $870,000.
House went up a bit (valued around $200k now, owe very little), my income pretty much doubled as of 2-01-21, and I'm working on maxing the 457 account ($19,500), for the first and probably only time of my life. Turning 50 next year, so it will be harder to do.

I'm looking at buying a newer van, so will take a hit if that happens.

ETA. The van is a no-go for now. Currently in the body shop, previously had 2 accidents,  and went to auction after it failed emissions test in NY.  The idea was to get less potential problems with a newer vehicle, not more. 

[aricia]

4/1/2021
Me and DH, early 40s, 2 kids
DH’s income $190,000 base plus $45,000 bonus

Assets:
House: $300,000
Cash: $300,000
I bonds: $195,000
Brokerage: $85,000
401k/IRAs: $1,170,000
HSA: $30,000
529s: $65,000
Cars (4): $40,000

Net worth: $2,185,000

[tcu2003]

Do you guys have a plan for the cash, aricia? We tend to hoard cash, so I’m always curious what others are doing if they’re in a somewhat similar position.

[aricia]

Yes, I am a cash hoarder! Actually, I was a little shocked it had gotten quite that high. There are some reasons it is exceptionally high right now.

COVID affected DH’s industry and it wasn’t clear how things would end up.

Our two daily drivers are getting old, ~$50,000 is a sinking fund for replacing 2 cars.

$20,000 will go to I-bonds for 2021.

$6,000 will be a back door Roth for DH for 2021.

Our house is 20 years old, and needs some TLC. We need a new roof either this summer or next and it will be at least $15,000. Our master bathroom needs to be gutted, our kitchen cabinets refaced or possibly a total kitchen remodel, lots of new flooring throughout house, and an egress window in the basement. However, contractors are in high demand around here so it might be a while....

$150,000 is from a bit of a windfall from DH’s job many years ago when it was a lot of money for us. It was/is my sleep at night money and made me feel better about becoming a SAHM. I have a mental block around investing this money. 🙄 Let me know if you have any advice!

I think I will increase the amount I put in the taxable investment account this year because I really don’t want our cash position to grow. Over the past several years that’s been my goal more than actually decreasing our amount of cash. Dh’s income has grown a fair amount over the last 4 years and I’m constantly having to revise my plans just to keep up! Good problem to have, right?

And that’s my cash hoarding story! I feel like I -should- invest more of it but have a hard time actually doing it.

[azucena]

Why I-bonds?

Thanks for laying out so much detail. I'm roughly the same age and family stats with about 600k in retirement and 100k in cash so I'm comparing.

[azucena]

A few more nosy questions...

Do you work or single income house?

Are you maxing 401k and if so for how long? Trying to gauge my 600k going to your 1.2M. This will be our 4th yr maxing. Any other insights?

[aricia]

Apr 13, 2021 18:38:52 GMT -5 azucena said:

A few more nosy questions...

Do you work or single income house?

Are you maxing 401k and if so for how long? Trying to gauge my 600k going to your 1.2M. This will be our 4th yr maxing. Any other insights?

I would love to answer your questions on an anonymous message board! 😀

I started buying the I bonds because they were very conservative and were earning more than a high yield savings account. I continue to buy them because our other investments are aggressive at a 90/10 asset allocation and I consider them part of our bond allocation. They are also additional tax deferred space.

I do not currently work, we are a single income household.

We have been maxing DH’s 401k since 2014. He also gets a 6% match on pretax contributions. However, that retirement number also includes my rollover IRA and two Roth IRAs. Last year, we also contributed ~$23,000 after tax to DH’s 401k to do a mega back door Roth and plan to continue this year.

We live in a LCOL area and have low expenses and high income so we are lucky to be able to save a ton of money without really trying.

If I break out the 401k, it was worth $600,000 in 1/2020, $500,000 4/2020, and $815,000 4/2021.

It looks like you have a pension but neither of us do, so you probably don’t need as much in retirement savings. Just remember that as your income goes up, the percentage of savings that occurs with a maxed 401k will drop. Depending on your retirement goals, you may need to save elsewhere in addition.

[Rukh O'Rorke]

Apr 14, 2021 9:37:24 GMT -5 aricia said:

Apr 13, 2021 18:38:52 GMT -5 azucena said:

A few more nosy questions...

Do you work or single income house?

Are you maxing 401k and if so for how long? Trying to gauge my 600k going to your 1.2M. This will be our 4th yr maxing. Any other insights?

I would love to answer your questions on an anonymous message board! 😀

I started buying the I bonds because they were very conservative and were earning more than a high yield savings account. I continue to buy them because our other investments are aggressive at a 90/10 asset allocation and I consider them part of our bond allocation. They are also additional tax deferred space.

I do not currently work, we are a single income household.

We have been maxing DH’s 401k since 2014. He also gets a 6% match on pretax contributions. However, that retirement number also includes my rollover IRA and two Roth IRAs. Last year, we also contributed ~$23,000 after tax to DH’s 401k to do a mega back door Roth and plan to continue this year.

We live in a LCOL area and have low expenses and high income so we are lucky to be able to save a ton of money without really trying.

If I break out the 401k, it was worth $600,000 in 1/2020, $500,000 4/2020, and $815,000 4/2021.

It looks like you have a pension but neither of us do, so you probably don’t need as much in retirement savings. Just remember that as your income goes up, the percentage of savings that occurs with a maxed 401k will drop. Depending on your retirement goals, you may need to save elsewhere in addition.

Can you explain how that works? I keep hearing about this, but no clue what that means or if I could try to do it?

Thanks!!

[aricia]

Apr 15, 2021 12:27:21 GMT -5 Rukh O'Rorke said:

Can you explain how that works? I keep hearing about this, but no clue what that means or if I could try to do it?

Thanks!!

I can try! First, not all 401k plans will allow you to do this. The plan needs to allow after tax contributions and allow in service withdrawals.
There’s a total limit for 401k contributions that was $57,000 (plus catchup I think if old enough) for 2020. This includes the $19,500 that is pretax plus employer contributions. If you haven’t met the limit, and your plan allows it, you can put in more money that is after tax. Then, if you have in service withdrawals, you can withdraw just the after tax money plus any earnings without leaving the company. This lets you pull the money out of the 401k and have it directly deposited into a Roth IRA account while the earnings are tiny. This is the part Fidelity took care of so I’m not sure on the details or technical terms but they seemed to know exactly what we wanted and it was easy. You do have to pay tax on the earnings. Then it continues just as a Roth IRA account would.
There are some slight variations, but this is the version that we did.

I’m a little iffy on the details because it’s not what I was doing but....
If you don’t have in service withdrawals but have after tax contributions, you could still make after tax contributions and then when you leave the company you could roll the after tax money and earnings to a Roth IRA. This would work best if you were planning on leaving the company soon and didn’t end up with a lot of earnings that would be taxed. You’d have to research this yourself but I know I read something about it!

One thing that I did not see much about and am a little confused on.... It looks like even if your plan is a safe harbor plan, so that Highly Compensated Employees are not limited on their pretax contributions, you may still be limited on after tax contributions. So far no excess contributions have been returned to us. 🤞