May I brag for just a minute?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Congratulations, OP!

Do you mind breaking down how you did it? I mean, what your asset breakdown looks like? Just curious, if you're comfortable sharing.

Sure. All numbers are rounded a bit

$75,000 cash. That's a combo of $10,000 emergency savings sitting in a plain savings account and $65,000 in a rainy day fund for a job loss kind of thing-- almost a year of basic bills. That's in CDs that come up every 2 months.
$200,000 in home equity-- $450,000 home value says Zillow and a $250,000 mortgage.
$125,000 in stocks and mutual funds that I started investing in when I had a bit more money to save after retirement. And recently includes some stock options I received through work in my latest job.
$80,000 in a 529 for my son.
$550,000 or so in 401(k)s.

Never been married so none of it comes via an ex. Saving, trying not to spend, and a lot of good fortune. While I am proud of what I have done to get where I am in life, I also recognize how much of my 'success' is really the result of being lucky enough to have good health, a good mind, a healthy child, and a lot of lucky breaks.

Thanks again for the support, DCUM!

Serious question. You said your net worth is $1M+. What you listed here are your assets. Do you have no debts or liabilities? Surely you should factor those in to really know your net worth?

She factored in her mortgage above -- unless she has serious credit card debt or student loans that's pretty much the only debt you'd expect from someone in her fifties, right? It's not like she's including the value of a car and not the note.

OP -- very, very impressive job! Doing this all on your own is incredible, and the fact that you've saved so much in a 529 on one income is amazing. Your kiddo is lucky to have you as a mom and as an example.

[Anonymous]

Anonymous wrote:
Serious question. You said your net worth is $1M+. What you listed here are your assets. Do you have no debts or liabilities? Surely you should factor those in to really know your net worth?

NP here. Her mortgage is listed and she's only including her home equity as an asset. It's entirely possible that that is her only debt or liability - I know that's the case for us.

Congrats OP!

[Anonymous]

Props for amassing well over half a million dollars in your 401k, while juggling everything else. That is not an easy thing under the circumstances.

[Anonymous]

Congratulations!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Congratulations, OP!

Do you mind breaking down how you did it? I mean, what your asset breakdown looks like? Just curious, if you're comfortable sharing.

Sure. All numbers are rounded a bit

$75,000 cash. That's a combo of $10,000 emergency savings sitting in a plain savings account and $65,000 in a rainy day fund for a job loss kind of thing-- almost a year of basic bills. That's in CDs that come up every 2 months.
$200,000 in home equity-- $450,000 home value says Zillow and a $250,000 mortgage.
$125,000 in stocks and mutual funds that I started investing in when I had a bit more money to save after retirement. And recently includes some stock options I received through work in my latest job.
$80,000 in a 529 for my son.
$550,000 or so in 401(k)s.

Never been married so none of it comes via an ex. Saving, trying not to spend, and a lot of good fortune. While I am proud of what I have done to get where I am in life, I also recognize how much of my 'success' is really the result of being lucky enough to have good health, a good mind, a healthy child, and a lot of lucky breaks.

Thanks again for the support, DCUM!

I never really knew how to calculate my worth so using your numbers

100k in cash
200k in stock
800k in home equity house A
500k in home equity house B
100k in home equity house C
5k/month in rents after mortgages are all paid for house A and B so covers mortgage in house C
300k in Ameriprise
500k in 401k

this is great

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Congratulations, OP!

Do you mind breaking down how you did it? I mean, what your asset breakdown looks like? Just curious, if you're comfortable sharing.

Sure. All numbers are rounded a bit

$75,000 cash. That's a combo of $10,000 emergency savings sitting in a plain savings account and $65,000 in a rainy day fund for a job loss kind of thing-- almost a year of basic bills. That's in CDs that come up every 2 months.
$200,000 in home equity-- $450,000 home value says Zillow and a $250,000 mortgage.
$125,000 in stocks and mutual funds that I started investing in when I had a bit more money to save after retirement. And recently includes some stock options I received through work in my latest job.
$80,000 in a 529 for my son.
$550,000 or so in 401(k)s.

Never been married so none of it comes via an ex. Saving, trying not to spend, and a lot of good fortune. While I am proud of what I have done to get where I am in life, I also recognize how much of my 'success' is really the result of being lucky enough to have good health, a good mind, a healthy child, and a lot of lucky breaks.

Thanks again for the support, DCUM!

Serious question. You said your net worth is $1M+. What you listed here are your assets. Do you have no debts or liabilities? Surely you should factor those in to really know your net worth?

New poster, but actually she does list a mortgage. I'm guessing that's it for significant liabilities.

OP here -- didn't realize this thread was still going. Yes, my mortgage is my only debt, aside from the monthly credit card flow, which I always pay off. My car is paid off.

[Anonymous]

Anonymous wrote:Apologies...

So, I'm a millionaire. My net worth just crossed 7-digits. That may not be the same achievement it once was, but for this single mom, daughter of a school teacher and a SAHM, who worked my way through high school, college, and grad school, it feels pretty good. All the extra dollars I've been putting into Retirement, Emergency Savings, Rainy Day Savings, 529s, the choice to live in a modest but stable neighborhood over the pricier 'stretch' house so I could save more, the dinners out with friends I have skipped to save money, etc. make seeing my net worth add a comma feels awesome.

And now back to work. As one of the DCUM trolls will say any moment, $1 million isn't nearly enough. But it is something.

Congratulations! Job well done!

[Anonymous]

OP, great job!! I hope one day I can say the same thing