Just reached 4M NW
Today I'm celebrating a personal milestone. I started late in my career after a failed startup with little in the pocket at age 29. After 8 years stressful career climb, and intense management of finances ... finally I can breathe. 37, TC 800k (last two year's TC 600k, 500k) NW 2014 $200k 2015 $500k 2016 $700k 2017 $1.1m 2018 $1.25m 2019 $1.6m 2020 $2m 2021 $4m
Nice, Can you share a breakdown of the $4M?
2.8m equity (2 properties) 1.2m stocks (across all pre and post tax accounts)
That is pretty amazing. You made it mostly through real-estate. Not with some risky stock/crypto investments.
How did you go from 2 to 4 in a year?
Uhhh look at how the market has performed
Stocks about 1/4 of that (I think most people did well there). But overall got very lucky timing the real estate market. Around last year we invested in a high end property before prices exploded - that alone jumped us $1m in value. And our existing property also jumped 500k.
Cool. Have you paid your tax?
Nice, how did you manage the 100% yoy net worth jump?
Got lucky in a few places, but also it was the discipline. Value of primary residence jumped significantly in HCOL area - we were tempted to sell and move out a few times, but held back. I pumped every dollar saved into indices (QQQ, VTI etc) and that took care of itself.
Wow, simple and straightforward strategy. Love it
Most of us couldn’t care less but good for you.
Congrats! How did you achieve 800K tc at Msft?
Strangely, never spent a lot of time worrying or trying to optimize my TC at MS. Never negotiated or threatened to leave to my manager ... for me, just having a salary (/survival) was enough after the painful startup. And having fun at my job kept me focused. I'm now L68 partner, and with the stock appreciation, next year TC at target will be 900k.
Congrats then. I did the same and grew nicely. My 2018 SSA are delivering pretty amazingly But after many solid years, this year was one re-org too many and I ended in a not great place and I am leaving for better TC.
How did your NW increase from 200k to 500k in 1 year? 2014 wasn’t a crazy year for the general stock market.
Primary home equity went up. Also, we settled a medical lawsuit that netted us 100k.
You had a 200k NW in 2014, but you also owned a home? Wouldn't the home be worth >200k by itself to begin with? I have never dealt with property so don't know how this works.
Nice job finally catching up. Better late than never. I'm on track for $1m NW by the time I will be 2 years younger than when you started, and I'm extremely late and slow.
Congratulations, I’m 30 with just pocket change. I hope I get where you are at 37 😀
I don't know what your career or life situation is, but anything's possible! One thing always served me well is to go outside of comfort zone. Take a risk here and there - career or investment. Don't play it safe 100%.