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  • Hit a Big Milestone!

    So, this is going to be kind of a not-quite-so-humble brag. Sorry, but I really just want to share this with a community that might appreciate it, and I really can't share with anyone else, certainly not my family, unfortunately. My wife doesn't get nearly as excited about this stuff--in fact, she just says, "Yeah, we're doing OK." whenever I update her on this, ha! We started just shy of $200k in the hole, and today we officially crossed into a NW of $1,000,000! Yeah, we might drop a little bit back under before my next paycheck, and if the market has a correction we will then, too, but it's exciting!

    My wife and I are 34, and I graduated residency in the summer of 2016. She's been working as a nurse since about a year after that. These numbers include home equity, all investments (tax protected or not--mostly index funds in different places), but not any other personal belongings (jewelry, other things we'd never sell), cars, etc.

    The attached picture is a screengrab of our YNAB Net Worth Report.

  • #2
    Congratulations!

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    • #3
      +1 - Totally worth a brag and a pint of whatever your choice this New Years eve. Congrats.

      Steady elimination of that debt and worth is great to see and a little acceleration these past months it seems too. Nice. Watch out for the doctor home mortgage cause it is maybe getting near that time.

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      • #4
        Fun stuff! You got there quick. You must save a good chunk of your gross a year. Or just make a good chuck of change. But either way congratulations!

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        • #5
          Congrats!

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          • #6
            Originally posted by Laeno View Post
            So, this is going to be kind of a not-quite-so-humble brag. Sorry, but I really just want to share this with a community that might appreciate it, and I really can't share with anyone else, certainly not my family, unfortunately. My wife doesn't get nearly as excited about this stuff--in fact, she just says, "Yeah, we're doing OK." whenever I update her on this, ha! We started just shy of $200k in the hole, and today we officially crossed into a NW of $1,000,000! Yeah, we might drop a little bit back under before my next paycheck, and if the market has a correction we will then, too, but it's exciting!

            My wife and I are 34, and I graduated residency in the summer of 2016. She's been working as a nurse since about a year after that. These numbers include home equity, all investments (tax protected or not--mostly index funds in different places), but not any other personal belongings (jewelry, other things we'd never sell), cars, etc.

            The attached picture is a screengrab of our YNAB Net Worth Report.
            If your wife thinks a million bucks is “doing okay”, what is her retirement number?!

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            • #7
              congrats.
              my spouse also looks up briefly when i have net worth updates.....i worry its leading more towards "you mean we dont have to keep saving as much-itis"

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              • #8
                Thanks everyone!

                Originally posted by StarTrekDoc View Post
                a little acceleration these past months it seems too. Nice. Watch out for the doctor home mortgage cause it is maybe getting near that time.
                The market run helped quite a bit, as I was invested. Also I took some extra work when my hours got reduced to go do some COVID relief, and actually did OK with that. Market run up helped a ton, though (but... I also didn't document the dip in NW during the downturn, cause I figured that'd be a little disheartening, and I knew it'd come back.

                I actually already bought the doctor house with the doctor mortgage. Part of my NW increasing was extra payments on that mortgage, and got it to 80% LTV back in March, which was an excellent time to refi, got down to a 15 from a 30, and to 2.5% from a 4%, and now with a plain old boring conforming loan, though I haven't been paying a ton extra on it, 'cause 2.5%...

                Originally posted by Lordosis View Post
                Fun stuff! You got there quick. You must save a good chunk of your gross a year. Or just make a good chuck of change. But either way congratulations!
                Thanks! And, now that you mention it... looks like about 37.7% of take home pay if I'm playing with this YNAB tool correctly. Gets up to a rounding error of 50% if you include the mortgage. Of course, that's thrown off a bit by some of my income being 1099 intermittently over the last 4.5 years, which would make the number lower, but of course doesn't include my pre-tax savings in 401k and HSA. Still, goal is 30%-ish, which helps.

                Originally posted by endo4jc View Post

                If your wife thinks a million bucks is “doing okay”, what is her retirement number?!
                Originally posted by Peds View Post
                congrats.
                my spouse also looks up briefly when i have net worth updates.....i worry its leading more towards "you mean we dont have to keep saving as much-itis"
                My wife has no retirement number. She's pretty frugal (but has expensive tastes... it's a weird combo). She likes knowing that we'll be fine kind of no matter what, but her dad was a bit older (60 when she was born!) and kind of beat in the "Russians are coming! Need to save!" mindset into her. Her mom's doing fine with what he left for her, too. We loosened the purse strings a bit once we got out of debt, so her "Not saving as much" itis shouldn't be too bad.

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                • #9
                  The first mil’ really is the hardest.
                  Congrats.

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                  • #10
                    Congratulations! That’s so awesome! What a great milestone for the new year!

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                    • #11
                      Interesting how YNAB doesn't count mortgage as a liability on the chart -- not really accurate accounting practice IMHO. But that's just me being picky.

                      Absolutely true the first 1M is the hardest. The great thing seen in a continued 3 year upward climb. Compounding will start taking affect and the following intervals for M will come easier unless you loosen that strings too much! It's okay to enjoy that pint tonight though

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                      • #12
                        Originally posted by Peds View Post
                        congrats.
                        my spouse also looks up briefly when i have net worth updates.....i worry its leading more towards "you mean we dont have to keep saving as much-itis"
                        welcome to my life.

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                        • #13
                          Originally posted by BruinBones View Post
                          The first mil’ really is the hardest.
                          Congrats.
                          endorse.

                          i think this year will be the first time that the returns on our portfolio outstripped out contributions.

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                          • #14
                            Originally posted by MPMD View Post

                            welcome to my life.
                            Plus one.

                            Happy New Year

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                            • #15
                              Click image for larger version

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