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Re: $100k Milestone!
Old 12-15-2005, 01:25 PM   #21
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Re: $100k Milestone!

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Now I have remarried a much more physcally conservative woman.
Missionary position only?

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Re: $100k Milestone!
Old 12-15-2005, 01:28 PM   #22
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Re: $100k Milestone!

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Missionary position only?* *

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Re: $100k Milestone!
Old 12-15-2005, 01:31 PM   #23
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Re: $100k Milestone!

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Missionary position only?
When I can get it.
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Re: $100k Milestone!
Old 12-15-2005, 01:38 PM   #24
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Re: $100k Milestone!

Congrats!

DH and I were hoping for our net worth to hit $1 million by the end of 2006 but I don't think that's going to happen with the baby on the way. We're now hoping for 2007.
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Re: $100k Milestone!
Old 12-15-2005, 02:30 PM   #25
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Re: $100k Milestone!

Keep us posted every $50K. I used $50K as a milestone for the first $300K, but have since made each $100K my new milestone. It's true that the next $100K is easier to earn than the prior $100K.
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Re: $100k Milestone!
Old 12-15-2005, 03:02 PM   #26
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Re: $100k Milestone!

Congrats! Since the beginning of this year when we hit 100k we haven't been making forward progress. Retirement accounts have been increasing, but savings has gone down almost as much. Then again, it was (partly) to pay off home mortgage/equity loan, so how does that work? We also added a Jacuzzi and a Volvo, I haven't been completely responsible....
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Re: $100k Milestone!
Old 12-15-2005, 03:29 PM   #27
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Re: $100k Milestone!

I'm still at the point that I get excited every time I hit another $10,000 milestone! I'll admit though, that the excitement there is waning, and pretty soon I'll probably start using $20K or 50K milestones. Doesn't seem that long ago that I'd get excited every time I hit a new $1000 milestone!

I also noticed that when I hit my second $100,000, it wasn't as exciting as the first. Part of that though was because it all came on so quickly when I sold my condo and invested the profits fairly quickly in rather large chunks. But at least I'm at the point where I don't cry if my grand total drops by several thousand dollars in a day anymore. Doesn't seem that long ago that I'd get excited about a $500 sway in either direction.
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Re: $100k Milestone!
Old 12-15-2005, 03:31 PM   #28
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Re: $100k Milestone!

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Originally Posted by Laurence
Congrats!* Since the beginning of this year when we hit 100k we haven't been making forward progress.* Retirement accounts have been increasing, but savings has gone down almost as much.* Then again, it was (partly) to pay off home mortgage/equity loan, so how does that work?
This goes back to your total net worth vs. your net worth for retirement purposes.

Your total net worth has gone up by the same amount that your mortgage principle balance has gone down (assuming FMV stayed the same), but unless you plan on using your home to fund your retirement, it's a sunk cost. *

Either way, paying down the mortgage usually always makes sense.
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Re: $100k Milestone!
Old 12-15-2005, 04:24 PM   #29
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Re: $100k Milestone!

Good work BigMoney!
Now if your bucks are just earning MM rates you ought to be knocking down about .50 cents per hour, every hour of the day--sooo, you posted this at about 10 this AM, so come midnight you will have earned enough for a 6 pac of Corona and a celebration.*
Ain't life great?* 8)
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Re: $100k Milestone!
Old 12-15-2005, 04:35 PM   #30
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Re: $100k Milestone!

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Now if your bucks are just earning MM rates you ought to be knocking down about .50 cents per hour, every hour of the day--sooo, you posted this at about 10 this AM, so come midnight you will have earned enough for a 6 pac of Corona and a celebration.
Except the car, furniture, electronics and toothpicks aren't earning a thing. And after taxes, the net is even lower. He might have to settle for a 6 pac of Buds instead.
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Re: $100k Milestone!
Old 12-15-2005, 04:56 PM   #31
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Re: $100k Milestone!

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Originally Posted by Andre1969
I'm still at the point that I get excited every time I hit another $10,000 milestone!* I'll admit though, that the excitement there is waning, and pretty soon I'll probably start using $20K or 50K milestones.* Doesn't seem that long ago that I'd get excited every time I hit a new $1000 milestone!

I also noticed that when I hit my second $100,000, it wasn't as exciting as the first.* Part of that though was because it all came on so quickly when I sold my condo and invested the profits fairly quickly in rather large chunks.* But at least I'm at the point where I don't cry if my grand total drops by several thousand dollars in a day anymore.* Doesn't seem that long ago that I'd get excited about a $500 sway in either direction.
Yep, I'm still thrilled by $500 milestones. Right now my cash, stocks, funds, and retirement accounts total about $45,000, so I still have a long way to go.

I think that probably the greatest thing about this forum for me is being able to get encouragement from everyone about savings goals. I could never talk to my friends face to face about my net worth or how much money I'm saving. Thanks everyone.
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Re: $100k Milestone!
Old 12-15-2005, 05:09 PM   #32
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Re: $100k Milestone!

Congratulations! I know it feels good to accomplish something that most cannot understand. I reached $100 K when I was 39 married with two kids. Single income family. Now 9 years later I am a little further ahead. I think itís important to track net worth year to year to see how you are doing. I count all assets. Home equity, cars, cash, stocks, bonds, cash value of pension. Probably not the furniture, clothes and toothpicks.
I will share my net worth records with the board. I estimate that I will cross the 1 Million mark in about 3 years. I donít separate out the investments for retirement from the house equity or anything else. Just one simple number to see how I am doing. Before long one year of growth will exceed the value of my house anyway. Try to avoid negative impacts to your net worth. Divorce would top the list. Kids will put a dent in it. Job loss which is always a threat. (Keep a reserve fund.). Addictions to shiny things.

Net Worth

Dec-94 $ 50,000
Dec-95 $ 81,000
Dec-96 $ 108,000
Dec-97 $ 136,000
Dec-98 $ 189,000
Dec-99 $ 246,000
Dec-00 $ 263,000
Dec-01 $ 268,000
Dec-02 $ 268,000
Dec-03 $ 338,000
Dec-04 $ 430,000
Dec-05 $ 495,000
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Re: $100k Milestone!
Old 12-15-2005, 05:25 PM   #33
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Re: $100k Milestone!

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Originally Posted by Lazarus
Congratulations! I know it feels good to accomplish something that most cannot understand. I reached $100 K when I was 39 married with two kids. Single income family. Now 9 years later I am a little further ahead. I think itís important to track net worth year to year to see how you are doing. I count all assets. Home equity, cars, cash, stocks, bonds, cash value of pension. Probably not the furniture, clothes and toothpicks.
I will share my net worth records with the board. I estimate that I will cross the 1 Million mark in about 3 years. I donít separate out the investments for retirement from the house equity or anything else. Just one simple number to see how I am doing. Before long one year of growth will exceed the value of my house anyway. Try to avoid negative impacts to your net worth. Divorce would top the list. Kids will put a dent in it. Job loss which is always a threat. (Keep a reserve fund.). Addictions to shiny things.

Net Worth * *

Dec-94 $* * * * 50,000
Dec-95 $* * * * 81,000
Dec-96 $* * * *108,000
Dec-97 $* * * *136,000
Dec-98 $* * * *189,000
Dec-99 $* * * *246,000
Dec-00 $* * * *263,000
Dec-01 $* * * *268,000
Dec-02 $* * * *268,000
Dec-03 $* * * *338,000
Dec-04 $* * * *430,000
Dec-05 $* * * *495,000
Interesting post. Just a note about "divorce". Many have referred to
it causing economic disaster. In my case, it enabled me to retire.
Even though we split the net worth about 50/50, I could do just fine
with my half since I was no longer "The Jones". 8 years since the split
and it has worked out just fine, at least financially. An aside.............
the Dec., 05 number shown above is about as much as I ever saw in my life,
even when combined with my spouse.

JG

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Re: $100k Milestone!
Old 12-15-2005, 06:25 PM   #34
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Re: $100k Milestone!

Well, its only money. Just numbers. Inflation adjusted it would look different. If you want to consider what its worth cashed out it would be less. Sell the house- realtor fees. Raid the 401K pay penalty and taxes. Have a garage sale-sell the furnature. Just numbers to estimate how I am doing. New hires at my company probably make 80% of what I make after 20 years. The important point is not how much you have. It's how free are you?
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Re: $100k Milestone!
Old 12-15-2005, 07:45 PM   #35
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Re: $100k Milestone!

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Originally Posted by SLC Tortfeasor
Yep, I'm still thrilled by $500 milestones.* Right now my cash, stocks, funds, and retirement accounts total about $45,000, so I still have a long way to go.
I'm thrilled by $50 milestones.

JG
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Re: $100k Milestone!
Old 12-15-2005, 08:14 PM   #36
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Re: $100k Milestone!

Yep, the distrbution mode is different. Hopeing to get there some day.
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Re: $100k Milestone!
Old 12-15-2005, 08:15 PM   #37
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Re: $100k Milestone!

I to crossed the $100k mark in my 401k this year at 34 and was happy. *Now I see how the rich get richer, it amazes me when I see the value of the acount go up $500 with a good day on wall street. *It amazes me that you can make a couple of grand of month just having money sit there. *Now I just need to grow my "non-retirement" accounts. *I got a late start, but hopefully someday they'll get there. *Just kicking myself that I didn't match my retirement account contribuitions to non-retirement, I believe I could've easily had the same amount in those today, where at this time it is only around $10k
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Re: $100k Milestone!
Old 12-15-2005, 08:30 PM   #38
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Re: $100k Milestone!

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Originally Posted by deafcat
I to crossed the $100k mark in my 401k this year at 34 and was happy. Now I see how the rich get richer, it amazes me when I see the value of the acount go up $500 with a good day on wall street. It amazes me that you can make a couple of grand of month just having money sit there. Now I just need to grow my "non-retirement" accounts. I got a late start, but hopefully someday they'll get there. Just kicking myself that I didn't match my retirement account contribuitions to non-retirement, I believe I could've easily had the same amount in those today, where at this time it is only around $10k
Yea, It's amazing. I have frends that have their net worth vary day to day by more than my total. You have to have a strong heart!
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Re: $100k Milestone!
Old 12-15-2005, 08:37 PM   #39
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Re: $100k Milestone!

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Originally Posted by BigMoneyJim
With today's paycheck and yesterday's market results I topped $90k in savings and investments. It occurred to me several months ago that $100k by the end of the year was possible with a very favorable market, but I'm going to cheat a little by adding in my car, furniture, electronics and toothpicks and celebrate 2005 as the year I hit $100k in assets. I am 35 (and still debt free, and still single with no kids).* (I also have a non-COLA vested DB pension and 15+ years of SS contributions.)

I often feel like the poor guy around here, but looking back I'm pretty happy with my situation. 2004 saw the end of my debt. 2005 has been a celebratory year of spending loosely, and looking back I see I spent around $3000 on air travel and $3000 on electronic goodies among other general financial looseness. To reach $100k in spite of that is quite encouraging. I am eyeing to reduce spending in 2006 while still having plenty of fun. I'm sure I could've done better with my finances over the past 17 years, but I can't beat myself up too much, either.
Yeah, congratulations. It's always nice to set a target, work hard and then enjoy achieving it. *

As posted earlier, if the 100k is left alone and added to, the next 100k is easier, then at 200k then next 200k is easier than the first 100k and so. The old snowball effect. *

Soon the notable milestones will 250k increments!! *

I don't usually do the detailed calcs until 31st March for financial year end, but we are now on course for $1.75m by then. I have a target in mind of $2m by the end of 2006, but conservativley it is more likely by mid 2007. * 8)

Cheers

Honkie
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Re: $100k Milestone!
Old 12-15-2005, 08:40 PM   #40
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Re: $100k Milestone!

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Originally Posted by Honkie
Yeah, congratulations. It's always nice to set a target, work hard and then enjoy achieving it.

As posted earlier, if the 100k is left alone and added to, the next 100k is easier, then at 200k then next 200k is easier than the first 100k and so. The old snowball effect.

Soon the notable milestones will 250k increments!!

I don't usually do the detailed calcs until 31st March for financial year end, but we are now on course for $1.75m by then. I have a target in mind of $2m by the end of 2006, but conservativley it is more likely by mid 2007. 8)

Cheers

Honkie
All true. Hope to be there soon!
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