^^ should be $42K checking/savings, not just $42

Early 40s:

$950k home ---- $685k mortgage
$42 checking/savings ---- $3-4k current cc balance, we pay off every month
$1.03M retirement, $93K 529, $40K brokerage ---- paid off student loans
two 15 year old cars we paid cash for, so maybe $2K each?

Net worth: $1.469M

So what’s your follow-up question?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Every year or so I look at our net worth. Thought I would share ours.
I don't really want to share our income/spending, because I think the net worth is a snapshot of *right now.* However, there is a followup question I'll pose after I share the details.

Asset ---- Liability
$575,900 home ---- $354,383.18 mortgage
$13,393.40 checking right now ---- $1,182.77 current cc balance that we pay off every single month
$73,204.73 retirement (I know it's small) ---- $105,265.44 student loans (I know it's huge)
$10,777 auto values, low-end ---- paid off

Net worth: 212,443.74

**Share yours, or feel free to comment on mine.**

This doesn't mean much without stating your age. E.g. If you're in your early 20s, you're fine. If you're in your 30s...uh-oh, would be my reaction.

We are in our mid 30s. It’s hard to state how far we have come. Negative worth not too long ago.

Income has hit a huge increase a few years ago, and only going up now.

We are not wealthy, but above the average American, which may not be saying much.

I’ve asked for help on this a year ago. And it seems, we are sort of stuck. Just waiting out the end of the student loan, which could be as soon as 3 years, maybe a bit more. Then we will have more $ to invest.

What did you guys go to school for? That’s a huge student loan bill, unless you’re doctors or something.

I feel like sharing would doxx me. Medical field, work with the public. Not quite a public figure but yes to people who know.

I can share this screenshot to show something about the field and how normal (and maybe better) our situation is


I was reviewing refi again when I saw this note about average debt and income for the field.

Now, the income listed IS representative of our experience 6y ago, just starting out. Has doubled since and will absolutely hold steady or increase..

The student loan balance on the screenshot is interesting. What we borrowed is much much lower than the screenshot. But the balance at its highest—due to interest and also delay in appropriate salary, and combine those two factors. We have made so much progress. I once calculated this on our account, and I think I figured out we should have almost paid off the original balance, if that interest weren’t there.

The career is like an uneven financial experience. Definitely lost financial ground for years, but now we’re making up for it quickly. Again, we’re not talking on the scale of a doctor. People stop having any pity on you if you’re a doctor and your salary is insane. Dh’s net is 120,000k. However, the financial experience and the field is similar, again, at a smaller scale.

I think we are doing fine from here on out. We have to
-keep working that student loan balance down
-figure out if there is *anything* else that we can do to apply any leverage to our situation. DW re-entering workforce in fall. Low expectations for re-entering, but it will give us some wiggle room.

We’ve have friends talk about investing or working on retirement, and they explained their perspective on paying the debt with that money later. I just can’t picture how that makes sense. The highest rate, when interest starts up again, is 6.8%. They’re saying we could invest, with liquid gains more than 6.8? AND not have our investing/minimums spread so thin that it’s actually effective. No way, sounds risky.

I’m often wishing we could sell the house, cash in the 401k and start all over. Because at least they debt would be gone. This is not really what we intend to do. ………

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Every year or so I look at our net worth. Thought I would share ours.
I don't really want to share our income/spending, because I think the net worth is a snapshot of *right now.* However, there is a followup question I'll pose after I share the details.

Asset ---- Liability
$575,900 home ---- $354,383.18 mortgage
$13,393.40 checking right now ---- $1,182.77 current cc balance that we pay off every single month
$73,204.73 retirement (I know it's small) ---- $105,265.44 student loans (I know it's huge)
$10,777 auto values, low-end ---- paid off

Net worth: 212,443.74

**Share yours, or feel free to comment on mine.**

This doesn't mean much without stating your age. E.g. If you're in your early 20s, you're fine. If you're in your 30s...uh-oh, would be my reaction.

We are in our mid 30s. It’s hard to state how far we have come. Negative worth not too long ago.

Income has hit a huge increase a few years ago, and only going up now.

We are not wealthy, but above the average American, which may not be saying much.

I’ve asked for help on this a year ago. And it seems, we are sort of stuck. Just waiting out the end of the student loan, which could be as soon as 3 years, maybe a bit more. Then we will have more $ to invest.

What did you guys go to school for? That’s a huge student loan bill, unless you’re doctors or something.

I feel like sharing would doxx me. Medical field, work with the public. Not quite a public figure but yes to people who know.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Every year or so I look at our net worth. Thought I would share ours.
I don't really want to share our income/spending, because I think the net worth is a snapshot of *right now.* However, there is a followup question I'll pose after I share the details.

Asset ---- Liability
$575,900 home ---- $354,383.18 mortgage
$13,393.40 checking right now ---- $1,182.77 current cc balance that we pay off every single month
$73,204.73 retirement (I know it's small) ---- $105,265.44 student loans (I know it's huge)
$10,777 auto values, low-end ---- paid off

Net worth: 212,443.74

**Share yours, or feel free to comment on mine.**

This doesn't mean much without stating your age. E.g. If you're in your early 20s, you're fine. If you're in your 30s...uh-oh, would be my reaction.

We are in our mid 30s. It’s hard to state how far we have come. Negative worth not too long ago.

Income has hit a huge increase a few years ago, and only going up now.

We are not wealthy, but above the average American, which may not be saying much.

I’ve asked for help on this a year ago. And it seems, we are sort of stuck. Just waiting out the end of the student loan, which could be as soon as 3 years, maybe a bit more. Then we will have more $ to invest.

What did you guys go to school for? That’s a huge student loan bill, unless you’re doctors or something.

Late 50s:

Primary home (plus 3 rentals on site) $425K -- no mortgage
Second home (plus 2 rentals on site) $385K -- no mortgage
$24K checking
$57K savings
$52K HSA
$1.6M retirement and brokerage
No debt -- all ccs paid monthly

Net worth: $2.5M roughly

Obviously not in the DMV

I am 38, my husband is 42. We have two kids, ages 4 and 6, both in private school.

We have about 2.5M in equity between two houses (happened to buy both homes at very good times in the market, this could change quickly if the market crashes)

Retirement for both is combined at 1.3M

400K in brokerage/cash accounts

So somewhere roughly just north of about 4M all in for NW, the vast majority of which is in housing equity

We also have 110K combined in 529 for kids but I don't count that towards our NW

I hope you are young

Anonymous wrote:

Anonymous wrote:Every year or so I look at our net worth. Thought I would share ours.
I don't really want to share our income/spending, because I think the net worth is a snapshot of *right now.* However, there is a followup question I'll pose after I share the details.

Asset ---- Liability
$575,900 home ---- $354,383.18 mortgage
$13,393.40 checking right now ---- $1,182.77 current cc balance that we pay off every single month
$73,204.73 retirement (I know it's small) ---- $105,265.44 student loans (I know it's huge)
$10,777 auto values, low-end ---- paid off

Net worth: 212,443.74

**Share yours, or feel free to comment on mine.**

This doesn't mean much without stating your age. E.g. If you're in your early 20s, you're fine. If you're in your 30s...uh-oh, would be my reaction.

We are in our mid 30s. It’s hard to state how far we have come. Negative worth not too long ago.

Income has hit a huge increase a few years ago, and only going up now.

We are not wealthy, but above the average American, which may not be saying much.

I’ve asked for help on this a year ago. And it seems, we are sort of stuck. Just waiting out the end of the student loan, which could be as soon as 3 years, maybe a bit more. Then we will have more $ to invest.

Early 30s:
$850k home ---- $806k mortgage
$359k checking/savings right now (just sold first house and need to recast new house mortgage) ---- $15k current cc balance that we pay off every single month (buying lots of furniture for new house)
$566k retirement and brokerage accounts ---- no student loans
$8k auto value ---- paid off

Net worth: $962k

how old are you op? are you married? w/ or w/o kids?

Anonymous wrote:Every year or so I look at our net worth. Thought I would share ours.
I don't really want to share our income/spending, because I think the net worth is a snapshot of *right now.* However, there is a followup question I'll pose after I share the details.

Asset ---- Liability
$575,900 home ---- $354,383.18 mortgage
$13,393.40 checking right now ---- $1,182.77 current cc balance that we pay off every single month
$73,204.73 retirement (I know it's small) ---- $105,265.44 student loans (I know it's huge)
$10,777 auto values, low-end ---- paid off

Net worth: 212,443.74

**Share yours, or feel free to comment on mine.**

This doesn't mean much without stating your age. E.g. If you're in your early 20s, you're fine. If you're in your 30s...uh-oh, would be my reaction.

OP Here: It kills me that our student loans take so much of our monthly budget. That's where we get into income, etc..... The minimum is LOW, which only makes the balance grow, and the Trump/Biden student loan forbearance makes the minimum and interest 0 for the past two years. Because the balance would actually grow if paying minimums, during normal times, we regularly put in 1800-2000 monthly to bring the balance down. We have continued this during forbearance. The loan is related very very very specifically and directly to DH's career, and the job pays well.

Every year or so I look at our net worth. Thought I would share ours.
I don't really want to share our income/spending, because I think the net worth is a snapshot of *right now.* However, there is a followup question I'll pose after I share the details.

Asset ---- Liability
$575,900 home ---- $354,383.18 mortgage
$13,393.40 checking right now ---- $1,182.77 current cc balance that we pay off every single month
$73,204.73 retirement (I know it's small) ---- $105,265.44 student loans (I know it's huge)
$10,777 auto values, low-end ---- paid off

Net worth: 212,443.74

**Share yours, or feel free to comment on mine.**