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Old 10-03-2007, 08:10 PM   #41
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Wife and I were 31 in 2005 and 2 years ago our NW was 225K. Today we are 33, and our NW is 440K.
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Old 10-03-2007, 11:04 PM   #42
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When I was 31 I was living at the beach, working part time and a very happy and proud possessor of $10,000.

Ha
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Old 10-03-2007, 11:23 PM   #43
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That was 7yrs ago for me. I had a NW of about $75000. Approx. $15000 was in liquid investments. This was also the year that I purchased my business, and am now FI and contemplating RE.

The fact that you are on this forum at such a young age, talking about FIRE, and presumably working toward it suggests to me that you are probably of a higher intellect and drive than almost every 31yr old in the world. I'm even something of an oddity at 38.

I'd like to offer up a few words of advice........ If you have a creative mind and can stomach temporarily working for less pay than many of your friends,then get out there and start a business, or preferably buy a fairly valued successful existing one (I never buy IPO's). If you go this route, research the hell out of what you are buying, and know where you plan to take it. If you are a bit more risk averse, then get something started in your garage after hours, but work hard at it, and if it doesn't fly, try something else. Time is on your side right now. On average, you have a sharper brain, and more physical drive now than you'll ever again have in your life. Remember, being somewhat naive in business can be your best friend. The potential upside is huge, and if you have a setback now, it will be much easier to get back on course than if you were 50 and your new venture didn't pan out.
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Old 10-03-2007, 11:48 PM   #44
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Probably in Nordstrom's trying to buy yet another pair of shoes on maxed out credit cards. Ahh the good old days when life was about making minimum payments on the credit cards and getting angry when the bank would deny me a purchase.
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Old 10-04-2007, 01:04 AM   #45
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What a good reflection on how far we've come!

Age 31: $20-30K in retirement accounts. No savings. Very little home equity.
Age 35: Divorced. Everything split in half. My spouse, a grad student who never intended to graduate, was richly 'rewarded' for leaving the marriage.
Today (10 years later): $600K in retirement accounts. House paid off. Early retirement is in sight.
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Old 10-04-2007, 09:24 AM   #46
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NW somewhere around 400k (split evenly between home and RE accts)
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Old 10-04-2007, 09:30 AM   #47
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What a good reflection on how far we've come!

Age 31: $20-30K in retirement accounts. No savings. Very little home equity.
Believe it or not, that was WAY AHEAD of most folks at the time.....

Quote:
Age 35: Divorced. Everything split in half. My spouse, a grad student who never intended to graduate, was richly 'rewarded' for leaving the marriage.
He's probably still in school.........

Quote:
Today (10 years later): $600K in retirement accounts. House paid off. Early retirement is in sight.
Great job..........
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Old 10-04-2007, 10:29 AM   #48
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31, one year out of graduate school. NW neg 40k.
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Old 10-04-2007, 11:13 AM   #49
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When I was 31 I was living at the beach, working part time and a very happy and proud possessor of $10,000.

Ha
Way to go!
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Old 10-04-2007, 10:57 PM   #50
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Believe it or not, that was WAY AHEAD of most folks at the time.....
No! Tell me that the young dreamers are doing better than that, please!

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He's probably still in school.........
The money only lasted for two years. He has to w*rk now.

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Great job..........
I just posted it with the hope of inspiring the younger dreamers. At 31, I would have found it surprising that so many people went from very little money to a lot of money in such a short time (if you call 10-15 years a short time). Yet there are quite a few stories in this thread that confirm how possible this is. LYBM works!
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Old 10-04-2007, 11:23 PM   #51
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I was 31 in 2000. At the time I was married and six years into my engineering job, and our net worth was about $219K. Divide that by two if you want, because I lost half of my net worth in my divorce last year.

All of that was not on my own, though. My parents helped out a great deal and were very generous to me.

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Old 10-05-2007, 01:05 AM   #52
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Well, that was 2 years ago, and I think judging from how the housing market has crashed in my area, I think my net worth is the same! Probably somewhere in the 75-90 range for liquid/retirement assets, ~150-200k in home equity, no debt outside of the house. Now the liquid is around 130k.
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Old 10-05-2007, 01:44 AM   #53
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Boy, those were the good ol' days. My 31st birthday was in 1991, a year when I made a six-month deployment last for eight and combined the Mount Pinatubo eruption with Subic Bay liberty. I think I was starting to question the conventional wisdom of going for 20.

By then spouse & I had piled up nearly a decade of two-income savings with not much opportunity to spend it. We'd been socking it away in Fidelity mutual funds (and a hot runner called 20th Century Ultra) so our net worth was pushing the lower six figures. Of course that foundation plus additional DCA leveraged quite nicely in the subsequent decade.

A couple months later we decided to start a family...
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Old 10-05-2007, 05:57 AM   #54
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I turned 31 in November 2005 and my net worth was about $36K.....then i sold the condo in Jan 2006 which brought my net worth up to $136K. I started renting a place and getting my plans finalized to move to NC in the spring of 2007.
But life happened and I am still in NJ...net worth is about $155K...hoping to break $160K by the end of the year.
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Old 10-05-2007, 09:26 AM   #55
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Turned 31 in July and DW and I are at ~$325k invested, prob another $125-150k house equity, and ($60k) in school loans.
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Old 10-05-2007, 09:11 PM   #56
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In 2001 I was 31 and hubby 34. We had about $95K in RRSPs and $55K equity in our house. We started putting money into RRSPs in 1990 ($1000) and bought our house in 1998.

Now, 6 years later, we have about $275K in investments and $200K equity in our house.
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Old 10-06-2007, 01:45 AM   #57
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I only started keeping a record of my NW in Feb 04 when I was few months older than 31.

At that time we had 150K in stocks and around 100K in house equity. Today at age 35 we have about 1 million in stocks and no house.

Great advice from Grizz. Try to use your after office hours to increase your income.
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Old 10-06-2007, 10:54 AM   #58
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26 years ago I was in my last year of residency, my wife had recently finished her residency, we had a child, no house, no savings, and ~$80k in educational debt. We now have 2 grown children, a house, nice (but not spectacular) savings, and will begin collecting 85k of cola'd government pensions next year with SS to follow in 4 and 6 years. We lived a little below our means, but many of you put us greatly to shame on that count (and with your investment success).
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Old 10-06-2007, 12:42 PM   #59
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That was two years ago for me. Hey, it's right here in my welcome to the board thread: Another new guy

I claimed $575k in net worth. The way it turned out was more like $370k because we couldn't sell the business at what we bought it at, and we had $30k of car debt.

Two and a half years later we have no debt, $400k-ish house value, $248k in retirement accounts, and a token $3k after-tax account that will grow quickly. Our goal is at leasta $1.5 mil in liquid assets, so we are around 1/6 of the way there.
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Old 10-07-2007, 10:07 PM   #60
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just turned 31 4 months ago. I have since reached my first milestone of 103k NW. This includes 45k in 401k/RothIRA/MF and 40k in house equity. Yeeah!! New goal is 1mil by 40.
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