Five years ago, I was single, clueless about stocks, made some money in real estate, and had a net worth of about 470k.
Now, I'm married with a toddler and another kid along the way, not touching anymore stocks, and have a joint net worth of just over $2 million.
The wife's income has been the real factor, grossing about 300k annually in the past 5 years. Other things that helped include selling another property for profit and reinvesting the gains into an income property, an online business that's generating a decent cash flow, and a sizable inheritance. And I'm still chugging along at my steady job which i still hate.
This is how we stack up:
870k in equity from properties.
600k+ in cash
200k+ in 401k/Pension/IRA
240k+ in investment partnerships
200k+ in vesting/vested equity bonus
30k+ in vehicle
My wife and I can't believe we've come this far, but we still don't feel rich. A 3BR condo around here costs more than 1.2 mil, and a house is over 1.8 mil. It's crazy, I know.
Even if we can live somewhere else, we still gotta figure out health insurance. When I did a quote online, the insurance premium for a family of 4 with a high deductible costs 1700/mo. Is there anyway around this? Some advice would be helpful.
I've revised our FIRE to commence in 2020, 2 years later than previously hoped for. By 2020, I would have accumulated enough years at my job to qualify for retirement benefits, which includes participation in the health care benefits. Granted, it won't be subsidized, but I am thinking it'd still be cheaper getting the group rate vs getting insurance on our own. It also seems "safer".
We're still trying to figure things out, and our somewhat "conservative" approach is taking us in the right direction. However, wife's job is taking a toll on her health and time with the family, so a job switch may occur which would lead to lower income. We continue to live below our means and don't have expensive habits. We travel cheap and often free (with points accumulated from online business). I just gotta shed the 30 lbs I've gained in the past 5 years, and I should be good.
Now, I'm married with a toddler and another kid along the way, not touching anymore stocks, and have a joint net worth of just over $2 million.
The wife's income has been the real factor, grossing about 300k annually in the past 5 years. Other things that helped include selling another property for profit and reinvesting the gains into an income property, an online business that's generating a decent cash flow, and a sizable inheritance. And I'm still chugging along at my steady job which i still hate.
This is how we stack up:
870k in equity from properties.
600k+ in cash
200k+ in 401k/Pension/IRA
240k+ in investment partnerships
200k+ in vesting/vested equity bonus
30k+ in vehicle
My wife and I can't believe we've come this far, but we still don't feel rich. A 3BR condo around here costs more than 1.2 mil, and a house is over 1.8 mil. It's crazy, I know.
Even if we can live somewhere else, we still gotta figure out health insurance. When I did a quote online, the insurance premium for a family of 4 with a high deductible costs 1700/mo. Is there anyway around this? Some advice would be helpful.
I've revised our FIRE to commence in 2020, 2 years later than previously hoped for. By 2020, I would have accumulated enough years at my job to qualify for retirement benefits, which includes participation in the health care benefits. Granted, it won't be subsidized, but I am thinking it'd still be cheaper getting the group rate vs getting insurance on our own. It also seems "safer".
We're still trying to figure things out, and our somewhat "conservative" approach is taking us in the right direction. However, wife's job is taking a toll on her health and time with the family, so a job switch may occur which would lead to lower income. We continue to live below our means and don't have expensive habits. We travel cheap and often free (with points accumulated from online business). I just gotta shed the 30 lbs I've gained in the past 5 years, and I should be good.