Alright everyone,
I discovered this site last night when I was rolling around in bed unable to sleep. I feel like I'm an above average saver for my age/income group, but I also feel like I'm not doing enough when it comes to the crowd here.
Early retirement, life on a sailboat crusing has always appealed to me. I know things like that come and go, but if there's one thing I've learned so far in life, its to leave your options open for as long as you can. I would at least like to give early retirement the best shot I can, and if I fall short, I'll likely still be ahead of the curve.
I would like someone to give me a bit of an assesment as to where I'm at on that road so far...so here are my stats:
Age: Just turned 24
Relationship Status: Single and kinda looking
Income: 48k gross, 42k net
Occupation: Military
Career expectations: ~1.5-3% pay raise per year and a promotion to about an 80-90k income within the next 4-5 years.
Assets:
Roth IRA - $20,500 (5k addition every year since 2009)
TSP (military version of a 401k with no matching) - $4,500 (3500 addition each year)
Stocks/bonds/funds - $28,000
Savings account - $17,000
Checking - $1,000
Total: $71,000
Debt:
35k Student loan (.5% interest on a 60 month repayment plan) - $28000
Monthly Expenses:
Rent - $600
Groceries - $200
Loan - $600
Phone - $70
Gas - $160
Insurance - $80
Random - $200
Total: $1910
I've been working since I graduated college 15 months ago. My best estimate is that my net worth has gone from about $3000 when I graduated college to about $43,000 today. I don't include things like my car, photography equipment, jewelry, or other personal possessions in my net worth calculation since I don't see myself ever selling most of this stuff and therefore I don't think it really contributes to how much I'm worth.
Sorry for the long post and thanks in advance for the help!
I discovered this site last night when I was rolling around in bed unable to sleep. I feel like I'm an above average saver for my age/income group, but I also feel like I'm not doing enough when it comes to the crowd here.
Early retirement, life on a sailboat crusing has always appealed to me. I know things like that come and go, but if there's one thing I've learned so far in life, its to leave your options open for as long as you can. I would at least like to give early retirement the best shot I can, and if I fall short, I'll likely still be ahead of the curve.
I would like someone to give me a bit of an assesment as to where I'm at on that road so far...so here are my stats:
Age: Just turned 24
Relationship Status: Single and kinda looking
Income: 48k gross, 42k net
Occupation: Military
Career expectations: ~1.5-3% pay raise per year and a promotion to about an 80-90k income within the next 4-5 years.
Assets:
Roth IRA - $20,500 (5k addition every year since 2009)
TSP (military version of a 401k with no matching) - $4,500 (3500 addition each year)
Stocks/bonds/funds - $28,000
Savings account - $17,000
Checking - $1,000
Total: $71,000
Debt:
35k Student loan (.5% interest on a 60 month repayment plan) - $28000
Monthly Expenses:
Rent - $600
Groceries - $200
Loan - $600
Phone - $70
Gas - $160
Insurance - $80
Random - $200
Total: $1910
I've been working since I graduated college 15 months ago. My best estimate is that my net worth has gone from about $3000 when I graduated college to about $43,000 today. I don't include things like my car, photography equipment, jewelry, or other personal possessions in my net worth calculation since I don't see myself ever selling most of this stuff and therefore I don't think it really contributes to how much I'm worth.
Sorry for the long post and thanks in advance for the help!