Did you have some form of windfall that significantly contributed to Networth?

[SLC Tortfeasor]

Not really a windfall, but my grandmother and my parents both paid most of my college education. I worked and contributed a few thousand, and took out a loan for a few thousand, but most of it was just a gift from my family.

Thanks to their help, my college loans were really small when I got out of law school. That allowed me to buy a house at the right time in the right neighborhood, and when I sold the house I pocketed a profit of about $70K.

There's no question that my mostly free college education gave me a huge leg up. Thanks family!

 

[OKLibrarian]

Re: Did you have some form of windfall that significantly contributed to Networt

DH and I both got full rides for our bachelors (national merit) basically for testing really well. We both probably would have gone to college, but there would have been loans involved. I also got a full scholarship for my Masters.

I was hit by a drunk driver senior year of college--the insurance money furnished my first apartment and set me up with an emergency fund. (don't know if I'd call that a windfall though, as I paid for that one with 2 broken bones and a lot of angst...)

Inheritance from DH's grandfather should be clearing probate in another month or so--it's probably about 20k, which will enable us to buy our first house this fall without completely draining the bank account (we have down payment saved up). He was an abusive jerk though, so I think DH earned that simply by never telling him off in the manner he richly deserved.

So some little things that have helped at key points along the way, but nothing like a lottery win either.

 

[SLC Tortfeasor]

Re: Did you have some form of windfall that significantly contributed to Networt

So some little things that have helped at key points along the way, but nothing like a lottery win either.

Yeah, I know what you mean about not having a true huge windfall. Most people never do get big windfalls. But there's obviously a lot of value in simply being smart enough not to fritter away the small windfalls, such as bonuses, raises, gifts, and unexpectedly profitable investments.

 

[missionfinder]

My answer is yes, and no. Yes, I had a "wealth event" that contributed significantly to my networth. No, because I worked my tail off for a decade building a business that I recently sold.

My investments went from 60K to 2 million overnight when I sold the business, and will be about 2.5 million by the time the earn-out is complete. For years I poured everything back into this business with the knowledge that it would pay off in the long haul and it did. Friends laughed about my choosen business the first few years, then some begged me for jobs later when the tech market collapsed after Y2K.

 

[kcowan]

Another windfall I just thought of was an early retirement offer from a big corporation. It was a five years one time bonus so that, instead of age plus years of service equal to 80, it was reduced to 75. This enabled me to retire at 49 (for the first time) and immediately draw the pension. It was worth about $250k.

More important, it enabled me to pursue an entrepreneurial life that generated substantially more wealth.

 

[calmloki]

In the windfall - pure luck category:
Born in USA rather than Nairobi or some other war/disease/economic disaster area.
Intelligent parents I admired who stayed together.
White, male, tall, deep voice, neither deformed nor hideous in aspect.
Didn't get blown up or away, no serious accidents or illnesses.
An easy going personality that keeps stress low.
Almost 30 years with a hard working, honest, loving, thrifty honey whose personality enriches my life.


About $120k in recent inheritances after we had made our nut.

 

[mathjak107]

my wife got an unplanned inheiratance of a piece of a family business that gave us a quick million to the bottom line.

 

[unclemick]

Didn't notice - except in hindsight:

1. Born an American.

2. And was lucky enough to get canned(layed off at age 49) in the early nineties - one of the better decades Mr Market wise.

heh heh heh 8). Cool huh?