My net worth background story
I began tracking my household’s net worth in April 2017, at which point it was $63,207.51. My household income has increased a lot since then, as have my expenses (some by choice, some not).
My household income is around $105k pre-tax and we currently put 15% into husband’s 401(k). We live in a MCOL area and have no debt. Right now, I’m not putting away money for myself because my retirement savings are larger than his, and I’m younger (34) than him (37). We’re trying to play catch-up for him and once that’s done I’ll start investing in my IRA again.
This month was super exciting because we broke the $250k mark! My goal for the entire year was to hit $260k, but it looks like we’ll be higher than that! If all things go according to my very conservative estimates, we will hit $500k in 2027 and a million in 2034. This blows my mind because (as I’ve said on the site before), it took me 10 years to get to $100k, and then just two years to get to $200k. Compounding is magical!
Here are my current numbers:
Total Net Worth: $256,557.44
Charity Net Worth: $6,444.25 (started tracking April 2020, no numbers for prior)
Checking Account: $4,284.42
Savings Account: $30,535.32
My 401(k): $40,065.19
My IRA: $91,318.32
His 401(k): $72,865.02
His IRA: $17,489.12
Sometimes I worry that we don’t have enough in our savings account but it’s so much easier to save pre-tax. Open to advice/observations!
Oh and I’m also not really shooting for traditional FIRE. I already only work (super) part-time now. My main concern is having enough money so my husband can retire comfortably at a reasonable age!