What is your net worth? I'm excited to reach zero!

[Anonymous]

Anonymous wrote:

Anonymous wrote:1.5M -- 2/3 in the market, 1/3 in equity. No debt of any kind.

We set a goal of having $1.0 million plus the house paid off by age 50. Reached it this year (48/49).

"equity" means stocks and "the market" means stocks.

?

I assume they meant home equity.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You have a higher net worth than the average NFL player - not a bad place to start from! Go you.

Our is $600k - keep saving - it keeps growing very quickly - every year I look back to see what it was the previous year and I am surprised it grows so fast.

Not OP
How long would it take to get from $0 to $600k for the average professional
(range of time) - understand it depends on many factors.

600k PP here- I've been working for 11 years and DH 8. I feel like we should have more... I wish we had saved more aggressively. Recently we've been trying to max out our 401ks, which has helped it increase. I also invest money in regular index funds and stocks. Basically I sprinkle it a lot of places and try to save more than spending too much, but we do spend and I think its important to have fun too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You have a higher net worth than the average NFL player - not a bad place to start from! Go you.

Our is $600k - keep saving - it keeps growing very quickly - every year I look back to see what it was the previous year and I am surprised it grows so fast.

Not OP
How long would it take to get from $0 to $600k for the average professional
(range of time) - understand it depends on many factors.

600k PP here- I've been working for 11 years and DH 8. I feel like we should have more... I wish we had saved more aggressively. Recently we've been trying to max out our 401ks, which has helped it increase. I also invest money in regular index funds and stocks. Basically I sprinkle it a lot of places and try to save more than spending too much, but we do spend and I think its important to have fun too.

Thanks.
You saved the whole time so you probably shouldn't feel like you should have saved more, you saved consistently so that's why you've done so well. Are you about 36?

[Anonymous]

All of you are 20 trillion richer than the United States .

[Anonymous]

Anonymous wrote:I just realized I finally don't have a negative net worth! And I am happy about it. My home equity and 401K netted against my students loans (90K) and credit cards (5K) equals zero. I know many of you would laugh at this as pathetic, but it truly is an accomplishment for anyone to crawl out of a negative net worth.

I hate to burst your bubble, OP, but it doesn't appear that you included mortgage debt in your calculations. You likely are still in the red.

[Anonymous]

Anonymous wrote:All of you are 20 trillion richer than the United States .

The US has better cash flow, though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You have a higher net worth than the average NFL player - not a bad place to start from! Go you.

Our is $600k - keep saving - it keeps growing very quickly - every year I look back to see what it was the previous year and I am surprised it grows so fast.

Not OP
How long would it take to get from $0 to $600k for the average professional
(range of time) - understand it depends on many factors.

600k PP here- I've been working for 11 years and DH 8. I feel like we should have more... I wish we had saved more aggressively. Recently we've been trying to max out our 401ks, which has helped it increase. I also invest money in regular index funds and stocks. Basically I sprinkle it a lot of places and try to save more than spending too much, but we do spend and I think its important to have fun too.

Thanks.
You saved the whole time so you probably shouldn't feel like you should have saved more, you saved consistently so that's why you've done so well. Are you about 36?

33. We have high incomes, so I think that is why I feel like we probably could have done more. I of course realize we are very fortunate, so don't want to come across as not thinking that.

[Anonymous]

I figured out once that we'd need to earn 250k gross to reach our "dream" savings rate without changing current (relatively frugal) lifestyle. This would include maxing out 401K, maxing out Roths, 20k to max out I Bonds, and 20k into regular savings for big expenses (ie, car, home repair, braces).

[Anonymous]

Congratulations OP! I remember that feeling too. We are at $1.3 million currently but we are 12 and 17 years into our careers. You'll get there - just keep saving!

[Anonymous]

Anonymous wrote:I just realized I finally don't have a negative net worth! And I am happy about it. My home equity and 401K netted against my students loans (90K) and credit cards (5K) equals zero. I know many of you would laugh at this as pathetic, but it truly is an accomplishment for anyone to crawl out of a negative net worth.

Good for you OP. Hopefully time is on your side. My family's net worth peaked around my 50th birthday when we we up about half a million and it's been downhill ever since. I'm about to pass you on the way down.

[Anonymous]

Anonymous wrote:Congratulations, OP!

Keep going!

We're struggling too, right now.

I think most families are struggling. I havent figured out our net worth, not sure I really want to know right now as I am out of a job for the time being. Life sucks at times but depends on what you make of it.

[Anonymous]

Anonymous wrote:I just realized I finally don't have a negative net worth! And I am happy about it. My home equity and 401K netted against my students loans (90K) and credit cards (5K) equals zero. I know many of you would laugh at this as pathetic, but it truly is an accomplishment for anyone to crawl out of a negative net worth.

Congrats OP. I, too, would be happy if I could hit a net worth of zero right now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You have a higher net worth than the average NFL player - not a bad place to start from! Go you.

Our is $600k - keep saving - it keeps growing very quickly - every year I look back to see what it was the previous year and I am surprised it grows so fast.

I remember being at $1M in 2008. Maybe you read about what happened next.

Smart people didn't sell but in fact bought more and more shares, and they are at $2 million today.

Exactly. Look up dollar-cost averaging.

[Anonymous]

Anonymous wrote:Some of these net worths don't make sense. Use this calculator to correctly determine net worth (you gotta include all your debt):

http://cgi.money.cnn.com/tools/networth/networth.html

According to this calculator we are at +$180K; mid to late 30's. That's about to go up after we sell our house. Sweet!

[Anonymous]

I will be at zero within the next few months! Never thought I would be so excited about this. I am a 30 something single mom and once I hit zero, I will start saving for a down payment for a condo.