Share: Age, Salary,profession, Total monthly expense, net worth, and stuff!

[Milton]

Total monthly expense: Don't know, have lived in a way that I haven't been forced to track it.

Start tracking it. It doesn't cost any money, and precious little time and effort, to record your daily expenses. If you have that basic information, it's easy to track your monthly and annual expenses. Knowledge is power!

See further Steps 2 and 3 in Your Money or Your Life [http://http://www.yourmoneyoryourlife.org/fom-about-summary.asp].

 

[Lagrange Multiplier]

It doesn't cost any money, and precious little time and effort, to record your daily expenses.

For the record, I should also mention that I am a slob who uses the "stack" method, so, currently, it would require sorting through some stacks to find my checkbook, my credit union statement, and my credit card statement. For me, it's a nontrivial affair.

I am looking into online banking somewhere else (my credit union does not offer it), so I may be able to manage it electronically before long. It will be interesting to see where it all goes.

 

[Simplygib]

No regrets

Anyone can retire. You can do it with a NW of $9m or or one that's in the red. But the latter might require you to destroy your credit rating, go to emergency rooms for your medical, and call the nearest bridge your home. There is no magical number at which one can retire. It has just as much to do with the lifestyle one desires post-retirement than anything else. I have a low-cost lifestyle by choice, so I don't fret that I'm not in the 6-figure income category and am not worth million$.

My NW was negative 14 years ago when I was 40. That's when I decided to get serious about retirement planning. I cut my expenses to the bone and started saving as much of my salary as humanly possible. I was saving 70% of it at one point. After a lot of twists and turns, I will retire next year with a modest pension (with COLA and medical) and a few belongings, which I can hopefully pare down some between now and then (the more stuff I have the less happy I am, it seems).

Current info:
Income: ~$71k
NW: ~$200k
Stuff: Houseboat (my home), rental house, 17-year old Toyota, 2 older motorcycles, 2 older kayaks, two older bicycles,

Addendum: The soon-to-be ex is taking another $200k in a divorce settlement.

2nd Addendum: I have nothing against a net worth in the million$. I wish mine was there. It would not have any affect on my lifestyle, but it would allow me to make an occupation out of giving it away (anonymously, to those whom I deem worthy, in my sole judgement), which I think would be a lot of fun.

 

[yona]

Age - both of us soon 35
Combined salaries - ~75K (was higher before when my wife worked more, but never got to 100K. Now she is semi retired. And we will both retire next year)
Profession - I am a programmer, and my wife teaches Chinese
Expenses - rent - ~1200, schools - ~650, food - ~300 all others - ~200. this is not including one time big items.
Net worth - ~ 1 million
Staff - too many things we don't need.

 

[DougViages]

Almost to FIRE!!!

Ages: 54 (Me)/56 (DW)
Income: $185,000 now, but we are both trying to go to 3 days/week, with worked income cut to $115,000 or so.
Professions: Hospital Director/Pharmacist - DW; Controller/CPA - me.
Expenses: Gets a little tricky here: Basic household maybe $3500/mth - Individual - $1000/mth each. We still have two 20-somethings in college - $1600/mth (for the next year to 18 months).
Net Worth: $2.9 million, with $2.7 million invested ($1.1 million IRA's & 401(k)'s)
Stuff: Nice house with only $100m mortgage, 2 moderate cars, no cottage, boat or golf club.

We want to cut back for a couple of years, and increase travel (Planning 12 weeks travel over the next 18 months).

 

[jerryo]

Age: just turned 58 (widower)
Income: about $165,000
Expenses: about $9,000/month (one kid still in college)
Net worth: about $3 million
Other Expected Income: 50k cola'd pension + ss
Plans: retire in the next year or two)

 

[genghis]

Age: just turned 58 (widower)
Income: about $165,000
Expenses: about $9,000/month (one kid still in college)
Net worth: about $3 million
Other Expected Income: 50k cola'd pension + ss
Plans: retire in the next year or two)

You must love your job cuz it sounds like you have more than enough to retire today

 

[gtmeouttahere]

Discussions :: View topic - THE CEDIS IS THE MOST WORTHLESS CURRENCY IN WEST AFRICA

I'm worth at least $1,000,000,000 in Cedis'.

 

[FancyBear]

2 cats (1 really, the other is the BFs, but I can't bear to say she isn't a part of MY/OUR family too. if we split, I get 1, he gets the other).

You will probably (hopefully) never have to think about this but the ex and I had 2 dogs, the male dog was his, female dog was mine. I got both dogs in the divorce. They howled like coyotes when they weren't around each other. Ex misses his dog terribly but at least he understands. The dog would not have.

 

[FancyBear]

Age: 32 (hope to retire 50-55)
Income: $ 75,000
Expenses: about $ 3000/mo
Net worth: about $ 300k
Other: I have no idea if this is good or not even after being on this forum for a while.

 

[lswswein]

Age: 32 (hope to retire 50-55)
Income: $ 75,000
Expenses: about $ 3000/mo
Net worth: about $ 300k
Other: I have no idea if this is good or not even after being on this forum for a while.

You are doing well if you hit your early 30's with more than 100K.

-h

 

[BunsGettingFirm]

Age: 27
Income: less than half of the post above me
Monthly expenses: the whole paycheck- savings included
Net Worth: negative because of student loans
Location: OR
Stuff: one car for the DW and I ride a 2003 Bianchi Pista (fixed gear)

Anyone who can ride a Bianchi Pista for transportation has my respect. I'd fall over at the first stop light.

 

[Webzter]

Age: 29 / wife is 28
Salary: Too much.
Profession: By day, integration architect for a large financial company. By night, freelance programmer for small companies.
Expenses: Too high. I figured out that expenses grow to the size of the salary, if not more!

Net worth: $140k in retirement, $15k in non-retirement, $15k in e-savings

Stuff: one car (we carpool), four bikes, two digital cameras, too many lenses for said cameras (we've all got to have our thing) and one lettuce patch on the deck of our townhouse.

 

[BUM]

I'm a newb and am curious to know how I stack up. Hopefully, this type of thread isn't considered too invasive for a "rook".

Age: 31
Income: $102,000/yr
Total monthly expense: $1,756.43
Net worth: $72,453
Stuff: Single, Didn't start 401-K until age 27 , still a renter, ~$15 K in debt to be paid off within the next 100 days.

Grade: ?

...back to the original poster.

Popular thread Wealth Health! By the look of your situation, you could double your net worth annually. ER in your 40's? Keep up the good w*rk.

 

[Milton]

For the record, I should also mention that I am a slob who uses the "stack" method, so, currently, it would require sorting through some stacks to find my checkbook, my credit union statement, and my credit card statement. For me, it's a nontrivial affair.

I use a cheapo pocket diary - you know the type, companies give them away every December as promotional items - to record all of my expenses, including small cash purchases. Perhaps that would be worth trying.

 

[thefed]

Age: 24, hope to retire at 39
Income: $ 55-85k/yr (self employed,varies)
Expenses: about $ 2500/mo
Net worth: about $ 140k
Other: Contribute to a Roth IRA, IRA, and the rest sits in a high yield savings (5.4%)

 

[ndfmnlf]

Age: 41 (me); 39 (wife)
Income: $225K
Profession: physician (me); med tech (wife)
Net worth: $700K

BTW, I'm impressed with some posters here who are 5 to 10 years younger than me, making 5 figure incomes, and yet have net worths in the 7 figures. How'd you guys do it? I thought I was frugal....apparently not frugal enough?

 

[lswswein]

BTW, I'm impressed with some posters here who are 5 to 10 years younger than me, making 5 figure incomes, and yet have net worths in the 7 figures. How'd you guys do it? I thought I was frugal....apparently not frugal enough?

I think it is more a combination of starting early and taking advantage of all that compounding and the ridiculously good returns out of the stock markets over the last few yrs

-h

 

[Meadbh]

BTW, I'm impressed with some posters here who are 5 to 10 years younger than me, making 5 figure incomes, and yet have net worths in the 7 figures. How'd you guys do it? I thought I was frugal....apparently not frugal enough?

Time in the market. While they were earning and saving, you and DW were at school. Viz The Wealthy Barber

 

[NinjaPigeon]

Time in the market. While they were earning and saving, you and DW were at school. Viz The Wealthy Barber

That's the book that got me started Alas, I am coming up on the big 3-0, and I haven't even gotten a net worth equal to my salary! But I'm optimistic for next year

 

[Webzter]

That's the book that got me started Alas, I am coming up on the big 3-0, and I haven't even gotten a net worth equal to my salary! But I'm optimistic for next year

Ask for a pay cut, quick!

Seriously, though. I'm in the same boat. It's depressing but at least I think I'm mostly on the right track now thanks to everything I've been learning here and at the Bogleheads forum.

 

[pj86]

Age: 21
Occupation: Student
Income: 5-8k/yr (tutoring and summer internship)
Expenses: about 130/mo (my parents support me for the normal living expenses)
Net worth: about 15,5k
Stuff: Already bought my own bed and furniture, own 1/3th of a sailboat type 470 (looking to flip and upgrade to 29er), decent ski equipment
Other: Desire to be free, hence my presence here

 

[farmboy42]

I'm game.

I feel grossly inadequate compared to other people in my age range, but here it is:

Age: 30
Occupation: IT Manager
Salary: $100,000 + 8% bonus (total=$108,000)
401k: $200,000 (it lost 20K in the last two weeks, but I have 30 years to recover it!)
IRA: No
Savings: $25,000
Other: Various gadgets that aren't really worth that much and a 7 year old car.
Home: Rent still (houses cost $500,000+ where I live if I don't want to get shot on my front doorstep)
Net worth: $145,000 (According to a calculator I used). I have about $12,000 in college loans. How do people get $300,000+ net worths without owning a house?

 

[bow-tie]

I'm game.

I feel grossly inadequate compared to other people in my age range, but here it is:

Age: 30
Occupation: IT Manager
Salary: $100,000 + 8% bonus (total=$108,000)
401k: $200,000 (it lost 20K in the last two weeks, but I have 30 years to recover it!)
IRA: No
Savings: $25,000
Other: Various gadgets that aren't really worth that much and a 7 year old car.
Home: Rent still (houses cost $500,000+ where I live if I don't want to get shot on my front doorstep)
Net worth: $145,000 (According to a calculator I used). I have about $12,000 in college loans. How do people get $300,000+ net worths without owning a house?

Grossly inadequate. Which part?? You lost me.

 

[laurence]

Yeah, really! I'm older and make less:

33 ( as of this last week )
IT Security
Salary ~80k
Various Retirement Accounts: ~$140,000
Savings: $13,000
Own home with ~$200,000 in equity
'02 Jeep GC and '05 Volvo S60 (both I hope hit the ten year mark)
Married, 2 kids
I do own lots of gadgets (multiple computers I built myself, digital SLR camera, 50 inch HDTV) but we are good about buying the gadgets we want and not spending on silly stuff like the latest fashions, clothes, kitchen utensils. etc.