Home > 10 years of finances - thank you

10 years of finances - thank you

January 3rd, 2020 at 11:26 pm

So I feel like I have grown a lot with many of the people on the board. My life has gotten significantly different and changed and I'm thrilled to have read about your lives as well. It's amazing to see people's lives and know that though we haven't meet I feel like I've been given a front row seats to important events in your lives. Anyone who reads this certainly has been given a front row seat to my life. Anyway thanks CCF. I have read about your girls since 2006ish and I cannot believe you have one ready to graduate college. It brings a tear to my eyes. Disneysteve I recall reading about the planning in his daughters baht mitzvah and now she's a young adult working. It's been quite a ride. Monkeymama had two small monkeys who are rather large now! I've read many of you getting married, moving, divorced, and joys and sadness. Thank you for sharing it with me.

Things have changed a lot for me. 10 years ago I was 8 months pregnant and eagerly awaiting the birth of my first child a girl. DK1 was born end of January but was due end of February. I was about to defend my thesis but had been mommy brained and lazy. I finished my thesis and defended in June of 2010 (yeah me!). Notice my biggest thrill this decade was becoming a mom? Anyway having a child changed my DH and I a lot. We lost 1 income and still haven't gone back to 2 full time incomes 10 years later. We added a second child in 2012, moved cross country, changed careers (both of us to entirely different fields), and didn't work or have income for an entire year! 8/2015-8/2016. OMG!!! If we had we'd likely be further ahead but we wouldn't be as happy as we are now. Something I tell people, we took a sabbatical in the the middle of our life rather than retiring a year early.

Finances 2010
LAL Roth IRA - $21,820
DH Roth IRA - $74,170
DH 401 - $100,378
Total - $196,398

Taxable Assets excluding home - $5k

DH has just finished his MBA which we cash flowed and he had NO LOANS. We spent $85k on this MBA. Our Net Worth was $201k. We took out a loan in 6/2010 to buy a subaru outback. And I think at that time we probably had $200k in home equity. We had maxed out the IRA and 401k since 2006 for $98,500 contributions and had $100k in gains.

Finances 2020
LAL IRA - $146,988 ($78k contributed)
DH IRA - $346,776 ($78k contibuted but some rolled over and paid taxes from old 401k)
DH 401k - $542,361 ($258,500 contributions from 2006)
Total - $1,036,129

Taxable accounts - ~$422k. So about $1.4m not counting home equity. So increase of $1.2M in net worth not counting home equity. Not bad for 9 years of savings and spending $100k that year for living. $60k living, $20k DH's course, and $20k for moving and expenses. It was crazy that we managed to break even 2015 and 2016 with investment income and savings from DH starting a new job.

2020 goal hit $600k in taxable accounts. I think in about 5 years we will hit $1m. I'm still on the fence with buying an investment property. Still looking.

Happy to read about everyone else! Have a wonderful 2020. I am soon celebrating DK1 10th birthday and I don't know where the time went. How can I be 40?

I certainly didn't expect my life to take these turns!

6 Responses to “10 years of finances - thank you”

  1. disneysteve Says:

    This is awesome. And thanks for the shout out.

    It's kind of funny that your numbers are quite close to ours. You went up $1.2 million; we went up $1.3 million (but we started with a little more so that makes sense). Our growth was almost identical.

    I forgot to mention in my post whether or not DW was working ten years ago. I honestly don't recall when she stopped. I have to look that up.

  2. LivingAlmostLarge Says:

    We made about the same in 2010 about $125kish, (DH got a promotion and raise same time I quit working so we didn't lose any income). Then his income started to go up a lot until 2015 when he took a year off. Our expenses however were significantly more because of our cost of living so it might have been in line with the raises. But I think it would have been very similar because of the time frame of investments.

    Interesting. I think you are 50 DS? How much longer? We have around 14-15 years. 2034 is the year my DK2 should be done with college so that would be ideal. DH gives me grief because he doesn't want to move and retire. He will be 56 and I'll be 54.

    Rule of 7 gives us around $3m in retirement and $1.5m in taxable. I think we'll hit $3m in retirement and $3m in taxable in 14 years because I think we're on pace to hit $1 m in the next 5 years and our savings pace is higher than these past 4 years in taxable accounts because we've been spending a lot on remodeling, buying cars, etc

  3. creditcardfree Says:

    Yay! Thanks for participating! It really has been fun to read and watch us all grow financially and in life too. You are on a great trajectory.

  4. CB in the City Says:

    I was in awe of your midlife sabbatical! Sounds like you are doing great! The forties are great time of life, enjoy them!

  5. rob62521 Says:

    You are right, I feel like SA folks are friends that I can celebrate with, mourn with, and just be with. It's been a great time reading about your life and how things have moved forward.

  6. LivingAlmostLarge Says:

    It is cool to watch people aging on blogs and forums. It's funny I realize quite a few on here have retired.

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