Took some money for the upcoming kitchen renovation this month. Yesterday’s pullback means that we are down with that withdrawal, but at some points we were still up.
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This graph starts Jan 1 2022, which is what our FIRE numbers are primarily benchmarked against.
the markets remain irrational
we plan to pull out some more for the kitchen renovation, some in this calendar year and some in next (to reduce the overall tax hit). In which case at current levels it would take us back to ~Aug 2024 numbers.
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Thank you for saying this! It is something I need to consider doing before year end.
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Lost my job last month…but hoping I’ll find another before severance runs out. Good to see this progress in NW and our retirement savings over time, and a good increase last month… and nice progress since I last posted!
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aw man, i’m sorry about your job, but that graph is looking incredible! what is the blue line vs. red line?
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Thanks, was a long ride at nearly 19 years at the same place… Change of leadership started the process to a later Private Equity sale…and that put the nails in the coffin for a bunch of us.
I wasn’t very clear…red line is retirement savings, blue is our net worth.
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Here’s my net worth in Dec of each year since 2016.
This was a baller year.
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Booooo Hisssssss
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it is very eye opening to look at how a difference in withdrawal strategy can make such a difference in taxes owed. I estimate the shadowy one could be paying 12k more in taxes for 2024 if we choose one tactic over another.
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Listened to a podcast that referenced this data:
You can find where you stand with this link:
Interesting to see the 25, 50, 75, and 90th percentiles outside of the min, max, mean, and median for the age groups.
Some commentary from the podcast: the age group of 20’s has such a large gap because the difference between 20 and in college is a lot different than 29 at the start of a career. In the 50’s is when most folks receive an inheritance so there is a larger jump at that age than 40s or 60s.
This is for household data and shows data for both including home equity and excluding home equity.
Interesting to noodle on. It’s easy to say “I’m no where near the 1%” which is true but not really relevant. It is interesting to see where I fall on the curve. I’m not the top 1% but I’m in the top 80% and that is helping me focus on the fact that we are extremely privileged and it is helping me work on my mindset shift from scarcity to abundance.
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I was just thinking this morning about how little it takes to move up percentiles at the beginning, but it gets a bigger and bigger gap to the next group when you’re in the upper brackets.
And this shows it perfectly
e.g. for 45-49 years old, excluding home equity, to move from 97 percentile to 98 takes 1.2MM, but from 87 to 88 is 40k. and from 77 to 78 is 10k.
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