$ Milestone

[citrine]

Just wanted to share with everyone....I have passed the 150K milestone....
reached $154,594.17!!!
I am 32 and make less than 50K in the state of NJ.

 

[Calgary_Girl]

Way to go! That's fantastic.

 

[My Dream]

That's amazing, you should be very proud. Congrats.

 

[Sisyphus]

Congratulations to one 30-something from another!

Nice going. Next stop, 200K. See you there.

 

[laurence]

Getting pretty close to that myself, but I turn 33 in a month and DW and I have a significantly higher combined income. That's just amazing you got that much socked away!

 

[citrine]

Thank you! About 70K is profit from selling the condo at the right time. The other 80K is from socking away 25% of my salary into the 401K and maxing out my Roth....anything extra from windfalls/bonus went into the mutual funds.

 

[Milton]

At the risk of being pedantic: such financial results are neither "fantastic" nor "amazing". If one has the intelligence and discipline to LBYM, impressive numbers like that are "inevitable".

Good work, citrine!

 

[pj86]

At the risk of being pedantic: such financial results are neither "fantastic" nor "amazing". If one has the intelligence and discipline to LBYM, impressive numbers like that are "inevitable".

Good work, citrine!

Probably a newby question, but what is LBYM?

I guess it has something to do with indexing?

 

[Khan]

Probably a newby question, but what is LBYM?

I guess it has something to do with indexing?

Living Below Your Means

 

[Meadbh]

Well done citrine: you are indeed a jewel!
When I was your age in 1989 I had no idea what NW was. Looking back, it was probably in the region of $75K in today's dollars.

 

[JDARNELL]

Congrats! It want be long and you will be crossing the $250K mark then the $500K. Plan your work and work your plan!


Tomcat98

 

[Alex]

Way to go! keep up the good habits.

 

[citrine]

I am hoping to reach the 170K mark by the end of the year....and now with me boycotting goods made in China.....that should not be a problem at all!
Thank you for your support....I think of this board every time I want to make an impulsive purchase!

 

[bldgengineer]

Congratulations!

I wish I had access to a 401k...

 

[Fireup2020]

WTG fellow Jersey girl! Income poor here too! Very impressive savings!

 

[slepyhed]

At the risk of being pedantic: such financial results are neither "fantastic" nor "amazing". If one has the intelligence and discipline to LBYM, impressive numbers like that are "inevitable".

Good work, citrine!

I'd agree, the intelligence and discipline required to achieve that result is amazing. I'm in awe!

 

[citrine]

I have basically read the frugal/finance section of the library in the last year and the three things that have stood the test of time are:

Patience---you are in it for the long haul.
Capital---25% of my salary in 401K and max out Roth IRA
No Debt!!!

I still love diamonds....but I am going to just appreciate the ones I have at the moment.....maybe get 2 carat princess cut, platinum studs the day I retire!!!

 

[Jay_Gatsby]

I still love diamonds....but I am going to just appreciate the ones I have at the moment.....maybe get 2 carat princess cut, platinum studs the day I retire!!!

Why not simply buy jewelry that looks like diamond, but isn't? Sure, you'll know it's not, but it will still sparkle and impress other people.

 

[NinjaPigeon]

Why not simply buy jewelry that looks like diamond, but isn't? Sure, you'll know it's not, but it will still sparkle and impress other people.

Surely you aren't trying to insinuate that diamonds are an artificially scarce stone that isn't actually worth what they are sold for? (note: that was sarcasm)

At any rate, if you love diamonds, then I think that's a fitting reward for yourself after reaching your goal. Probably better than what I'll blow my money on

 

[citrine]

Jay:

Cubic Zirconia just doesn't sparkle like diamonds do!
And Jewelry is an investment....they would retain their value if I ever need to sell them!

Citrine

 

[Meadbh]

With a name like Citrine, you must be partial to gemstones.

My favourites are amethyst and blue topaz......but I have a spectacular citrine set in a silver ring that I bought for a couple of hundred dollars.

Who needs diamonds anyway?

 

[citrine]

Citrine is my birthstone.....and I love gems of all sorts....amethyst is also one of my favorites. I also love the fact that each stone has its own healing power and qualities.

Not to stray too far from the topic....but except from a few indulgences, I sock away as much as I can from my salary, windfall, my paintings. This year has been a bit expensive already.....medical complications with my cat, setting up the studio in the apartment, adopting two new kittens, and hopefully a trip to Arizona in November.
But I still hope to pass the 170K by 12/31/07! Will keep you posted

 

[Meadbh]

Aha.....an artist!

Guess we know what you plan to do in RE!!!!

 

[smileydog]

Re: Milestone

Probably a newby question, but what is LBYM?

I guess it has something to do with indexing?

LBYM... isn't that "Leave ($) beneath your matress"

 

[NinjaPigeon]

LBYM... isn't that "Leave ($) beneath your matress"

Might be kinda lumpy - I only keep rolled change around the house