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Old 06-21-2007, 02:57 PM   #121
Confused about dryer sheets
 
Join Date: Jun 2007
Posts: 8
Age: 39
Income: $85,000/yr
Profession: Software engineer
Total monthly expense: Don't know, have lived in a way that I haven't been forced to track it
Net worth: $778,399.59 at last count
Stuff: Single, Didn't have access to 401(k) until age 26 , still a renter, $419.55 in credit card debt to be paid off before the end of the month, 2003 Trek 7700 bike that's still in decent condition.

Other: Wondering how so many others stumble into these six-figure incomes.
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Old 06-21-2007, 06:53 PM   #122
Full time employment: Posting here.
 
Join Date: Oct 2003
Posts: 961
Thought I'd post to make all of the other young people feel good.

Age: 32 , DW 30
Salary: around $115,000
Total monthly expense: around $5,000 [mortgage and daycare is $3,500 ]
net worth: Just bought house in '05, so probably about negative $200,000 [$50,000 in 401(k)'s]. I screwed around in my 20's [credit card debt, bounced some checks, etc.], so didn't get a real job from which we could save until a couple years ago.
stuff!: minivan, 2 wonderful "whoopsie" kids.

Ahhh... there, feel better now OKlibrarian.

- Alec
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Old 06-21-2007, 06:54 PM   #123
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Location: At The Cafe
Posts: 6,866
Quote:
Originally Posted by Wealth Health View Post
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: ?
Good thread, Wealth Health. Your monthly expense looks to me very low for your income and I'm curious does the 1,756.43 include food at home and eating out or maybe do you take all your meals in the company cafeteria as a benefit of the job? Don't laugh too much I know many who do that. I spend about $2,800/month on about 60,000/yr, I don't own and operate a car, I also rent, buy all my own food and eat out a lot. I have enough $$ to retire now at age 60 but am not yet mentally ready. At 31, you are doing great, A+ in my grade book.

CuppaJoe, also a NewB
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Old 06-21-2007, 09:52 PM   #124
Dryer sheet wannabe
 
Join Date: May 2007
Posts: 14
Alright, I'll bite...

Age: 24, DW - 24
Combined Income: ~$115,000
Profession: Consultant, DW - Sales Analyst
Expenses: ~$2800
Net Worth: ~$150,000 (includes $40K home equity)
Stuff: 2003 Toyota Corrola and 2003 Chevy Cavalier both paid for, modest townhome which we purchased about a year ago w/ 20% down... Both DW and I started working immediately after graduating college at the age of 22 - I had a decent amount of student loans and cc debt out of school, she had none. We are both pretty natural at LBYM - I'd characterize myself as having an obsession with personal financial planning and analysis, which compliments DW who is very obsessive with saving money - I've never seen anyone clip so many coupons

Also, I'm fairly new to the forums and have thus far found the depth of information here invaluable. I look forward to contributing more of my insights in the future.
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Old 06-22-2007, 11:29 AM   #125
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Originally Posted by Celany View Post
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).
14 years ago I moved and took one of the 2 cats; I regret it to this day. One mourned painfully (he went behind the bath tub and screamed for a couple of days) and settled in with me to a new life slowly, found a cat friend in the building but he was never the same. The other died about 18 months later, suddenly maybe of a heart attack on Dec. 26. Three of us still feel guilty about him and believed he died of a broken heart; those cats so missed each other.
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Old 06-22-2007, 02:54 PM   #126
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Originally Posted by Lagrange Multiplier View Post
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.yourmoneyoryourlif...ut-summary.asp].
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Old 06-23-2007, 09:55 AM   #127
Confused about dryer sheets
 
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Posts: 8
Quote:
Originally Posted by Milton View Post
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.
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No regrets
Old 06-24-2007, 02:41 PM   #128
Confused about dryer sheets
 
Join Date: Sep 2003
Posts: 5
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.
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Old 06-26-2007, 12:20 AM   #129
Dryer sheet aficionado
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Join Date: Jun 2007
Posts: 45
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.
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Almost to FIRE!!!
Old 06-26-2007, 11:47 AM   #130
Recycles dryer sheets
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Join Date: May 2007
Location: Belmont
Posts: 160
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).
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Old 06-26-2007, 02:45 PM   #131
Recycles dryer sheets
 
Join Date: Jun 2005
Posts: 126
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)
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Old 06-28-2007, 01:00 PM   #132
Recycles dryer sheets
 
Join Date: Aug 2006
Posts: 78
Quote:
Originally Posted by jerryo View Post
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
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Old 06-28-2007, 11:48 PM   #133
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Discussions :: View topic - THE CEDIS IS THE MOST WORTHLESS CURRENCY IN WEST AFRICA

I'm worth at least $1,000,000,000 in Cedis'.
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Old 06-29-2007, 02:41 PM   #134
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Originally Posted by Celany View Post
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.
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Old 06-29-2007, 02:44 PM   #135
Dryer sheet wannabe
 
Join Date: Jun 2007
Posts: 11
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.
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Old 06-29-2007, 06:29 PM   #136
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Posts: 329
Quote:
Originally Posted by FancyBear View Post
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
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Old 06-29-2007, 08:06 PM   #137
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Posts: 1,502
Quote:
Originally Posted by Deetso View Post
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.
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Old 06-30-2007, 09:34 AM   #138
Full time employment: Posting here.
 
Join Date: Jun 2007
Posts: 567
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.
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Old 07-03-2007, 05:19 AM   #139
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Location: Mid Hudson Valley
Posts: 1,778
Quote:
Originally Posted by Wealth Health View Post
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.
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Old 07-03-2007, 01:58 PM   #140
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Quote:
Originally Posted by Lagrange Multiplier View Post
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.
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