Also hit my significant milestone today!

[er33]

Agreed. I would suggest that if you are serious about reaching that target, sell the plot of land that is tying up 20% of your capital, and put the money to work in the markets. Absent special circumstances, raw land rarely does better than break even after inflation.

I would love to but its in a foreign country and with all the hoops I went through to buy it, I don't look forward to the flak I will get from the family on selling it.

 

[er33]

Agreed. I would suggest that if you are serious about reaching that target, sell the plot of land that is tying up 20% of your capital, and put the money to work in the markets. Absent special circumstances, raw land rarely does better than break even after inflation.

I think we can do it in 4 years. Goal is to save 150k a year. This is assuming both our compensations remain the same.

 

[er33]

Update - we are at 512 net worth now [investments and cash only]. The journey continues.

 

[haloFIRE]

Rock on ER33!
+112K in less than 5 months....wow!

 

[haloFIRE]

Assuming I did my math right!

 

[er33]

Update - we are at 600k today with the help of the run in the market and diligently saving more. I am happy about the excess from what I thought it would be at the beginning.

On the expenditure side, our eating out has decreased with the arrival of the baby but daycare at almost 1800 a month has compensated for it.

On the non financial side, I am eating healthier and getting in better shape - so it sucks that I am doing this during the holidays but I hope the positive result will be worth it. Happy holidays!

 

[er33]

Small update - we are at 721k today. Increase came mostly from wife + mine bonuses paid this year. Had to pay 7k extra in 2013 taxes which was not fun. Its going to be an even bigger bloodbath for taxes next year. Not complaining too much since it is a good problem to have.

Not being able to save much every month because of a lot of travel expenses which even though we wanted to do it, still is taking a huge chunk out of our monthly paycheck. So the risk is that most of our yearly savings are coming from an unpredictable annual bonus.

I read something once, that out of health, wealth and time, pick two. That certainly feels like the case at the moment. Still trying to get healthy and alarmed by all the aches and pains we both feel despite being only 33 and 30.

 

[er33]

Net worth finally hit 800k this week. It has been quite a ride so far. Wife is out for the weekend at annual company trip so I am parenting solo with the toddler. Both of us are sick so this post is to cheer me up as well Happy thanksgiving to all.

 

[dallas27]

I love this thread, for selfish reasons. You went from 400 to 800 in 2 years it seems. I crossed 400 this spring. I would love to cross 800 2 springs from now and this thread makes it seem possible! (480 now)


May I ask what your average contributions were (per year) ? We are contributing slightly over 100k this year.

 

[er33]

This year its been 83 k post tax, 35k 401k combined. Last year should have been something similar. Of course the market also went up like a rocket last year.

Hoping to put in 100k post + 36k pre next year.

 

[er33]

2016 post

Posting again, this time for 2016.

$828,390.40 Assets
$-554,705.82 Debts
$273,684.58 Net Worth

We bought a house and had a big downpayment. Plus the market downturn did not help!

Hoping to put in 200k for savings this year. Hope the new year is good to everyone!

 

[Senator]

Hoping to put in 200k for savings this year. Hope the new year is good to everyone!

That is a tremendous goal! It sort of helps you cope with the market down turns.

That was my 2015 goal. Hit it at ~$207,500. That includes my employer 401K match. After tax, 401K, and HSA. It doe snot include dividends.

 

[Omalley]

Are you including the value of your home in your 'Asset' value? If you are counting the mortgage in the 'Debt' value, you also need to include the home value with the assets.

 

[er33]

Are you including the value of your home in your 'Asset' value? If you are counting the mortgage in the 'Debt' value, you also need to include the home value with the assets.

If I add the value of our home in [valued by refin which is conservative vs zillow ], then our net worth is $966,378. However this also does not include the value of the land in another country which I do not even know the current value of.

 

[Omalley]

It sounds like your calculation is then Investable Assets minus Debt. This is the primary number I focus on myself, as these are the only amounts that I can rely on to generate 'income' during retirement.

 

[2017ish]

It sounds like your calculation is then Investable Assets minus Debt. This is the primary number I focus on myself, as these are the only amounts that I can rely on to generate 'income' during retirement.

This is what we are focusing on as well. Counting the months down, and we "know" that our house and its 20+ acres, which is adjacent to a new development (complete with streets deadending our way) is worth a lot more than what we will spend on a future abode. Nonetheless, not included in retirement calculations, since we don't know when/if we will receive the proverbial offer that we can't refuse.

 

[er33]

Updating for 2016:

Investable Assets Minus debts (to borrow Omalley's nomenclature): $1,005,060

Trying to max out 401k's, backdoor roths and then save as much as we can in vanguard post tax accounts.

We had our second kid, so now that's an additional $2500 a month in daycare. We refinanced our mortgage from 15 years to 30 years to give some breathing space in monthly cash outflow. Will probably accelerate payments in 3 years when 2nd kid also goes to (slightly) cheaper preK.

 

[gauss]

Excellent! First "M" is the hardest!

-gauss

 

[er33]

2017 Update: $1.2M in liquid investments. 200K equity in our home.

Still hoping to add $200k a year to our assets. Shooting for ER in 8 years.

 

[exnavynuke]

2017 Update: $1.2M in liquid investments. 200K equity in our home.

Still hoping to add $200k a year to our assets. Shooting for ER in 8 years.

Nice progress (and great savings rate!)

 

[laurence]

2017 Update: $1.2M in liquid investments. 200K equity in our home.

Still hoping to add $200k a year to our assets. Shooting for ER in 8 years.

Wow, we were feeling good about adding 80-100k during 2017. That's an incredible savings rate!

 

[er33]

2017 nearly EOY update

1.4M in net worth [without home loan and home equity].


So far so good, had to replace HVAC in may, travel has slowed some due to two kids but picking up again next year with Japan/Singapore and UK booked so far.


Hit goal of 100k deposits in after tax investments after maxing out 401k and roth accounts. Want to up that for 2018.

Also trying a little experiment of seeing if a 0% apr with 3% fee is worth borrowing and investing in S&P 500 till may 2019. Sums not included in net worth above.

 

[er33]

Latest update:
1.6M in net worth [without home loan and home equity].

A bit of a job scare and some reduction in yearly bonuses. Upping our cash fund as well so we are on our way to 6 month of expenses in cash vs. everything invested in our index funds.

Reducing travel as well as our kids near killed us on the japan/singapore trip. Going to wait till next year to go again with the kids, going solo to mexico city at the end of the month.

The experiment with 0% apr with 3% fee is ok so far but ultimately not worth the minor stress in a volatile market.

 

[er33]

2019 update:

1.88 M in net worth. Lost my job in January. Deep depression after many failed interviews. Started therapy. Then one offer at a lower salary, but amazing manager and decent work. Then two more offers in a row, dream job and higher than ever salary. Hopefully starting that in 3 weeks.

So a bit of a shaky start to the year, but between severance and new salary etc, we *should* make 500k before taxes for this year.

Wish everyone a happy 2019 and see you later.

 

[ponyboy]

It sounds like you guys are doing good and it seems like you're hitting your goals...you guys have large salaries so its much easier for your NW to grow.