Category Archives: Networth

April Networth Check-In: $575k

For a bit of a belated April networth checkin, I’m happy to report my networth is ticking upwards slowly, despite the stock market doing eh.

Given the larger gains of past months, it still feels flat, but at least it’s up. I started 2018 out with $544k in networth, and am now at $575.6k–so I’m up $31.6k of my $100k goal for the year, leaving $7.6k growth per month to hit that goal (or 5% growth for the rest of the year including saving additions and gains.)

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The plan is for about $40k-$50k of that to come from after-tax stock vesting before the end of the year. If I don’t keep my job until then for any reason, then I don’t think I will be hitting the $650k goal for the year. But, with that extra $50k, it should be doable for me to save $25k for the next nine months, even with my maternity leave. Continue reading

My Legitimate Path to $1 Million Dollars

My $1M networth goal is far away, yet also, it appears, achievable. “All I need to do” is keep my job. That’s it. It helps a lot if my company continues performing strongly, but I don’t need to get a raise in the next four years. I just need to remain employed at the same exact rate. Based on my calculations, if I do just that, the following is a reasonable outcome:

Year AGE Networth Increase
2017 33 $423,000
2018 34 $565,000 33.57%
2019 35 $685,374 21.31%
2020 36 $813,785 18.74%
2021 37 $945,160 13.63%
2022 38 $1,097,934 16.16%

Continue reading

March Networth: $573k

How did it get to be March 1 already? Oh, right, February was a short month. Amazing what a difference a few days make.

My networth in March was relatively flat – and down a little bit – but that was expected given I ended up having two weekend trips which cost more than planned (and were worth it, pre baby and the no-travel time of my life.) I wanted to be at about $576k by this month, so I’m down $3k. I’m supposed to be at $589k by April 1… which, unless stocks bolt up in the next few weeks, is highly unlikely. Continue reading

Taxable Portfolio Update: $267,538

As my portfolio increases, I’ve stopped paying enough attention to how it’s actually performing. My current taxable portfolio ($267.5k) is detailed below. I have about the same amount in my retirement portfolio, which I’ll cover in another post.

Note, a few stocks are listed twice because I’ve purchased them in two different accounts.  My taxable stock accounts include FolioFirst (formerly Loyal3), Robinhood, Sharebuilder and Vanguard. Continue reading

Why I don’t include Mr. HECC’s Savings in My Networth

We’re married – shouldn’t I look at “networth” as our family networth? I imagine many of the “networth” amounts listed on Rockstar Finance’s Blogger Networth Directory include total family networth. I choose to leave my independent.

Why? When one retires, she needs a specific amount of income to live life to her current standards. A partner may have different standards, and may not require to save as much. Personally, my goal has always been a minimum of $2M before I retire. Ideally I’ll see a number more like $3M-$5M. According to CNN’s Retirement Calculator I need $8M to retire. Yikes. Hubby “only” needs $3M. Continue reading

November Networth and Budget Recap ($541,989)

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November was a reasonably successful month for networth growth. According to NetworthIQ, my networth is now $541,989. This is a 2.98% (or $15.6k) monthly increase from the end of October.

End of Month Spend Report

Income: $7826
Spend: $3907
Remainder: $3919

Spend Breakdown

  • Rent: $1350
  • Auto: $284
  • Bills: $170
  • Entertainment: $48
  • Food & Dining: $707
  • Health: $114
  • Infertility: $563
  • Shopping: $1821*
  • Travel: $190
  • Other: $10

Went a little (ok a lot) crazy with shopping this month… mostly due to the Sephora Rouge sale. Don’t judge. I’m planning to return a chunk of items I bought that I don’t need, so that will hit December’s spend. Had I not gone psycho on shopping, this month would have actually not been that bad.

Despite spending way too much at Sephora (*this includes all of my hair products for the year, which I acquire for 20% off. And, other things I don’t need.)

My budget goal was $4400 in spend and I actually only spent $3907 so while that’s close, I’m $500 under my target spend. Not bad. I can do better, but not bad.

And all this spend was BEFORE I knew I was pregnant… so I’m definitely going to focus on cutting down the shopping habit going forward. The good thing about living in a 1 bedroom apartment is that it’s hard to go too crazy buying things for the soon-to-be newborn. And, I now have a very real “why to save” goal ahead of me… coming in 8 months! OH MY GOD. My objective is to save as much as possible before baby comes. That, and kick ass at my job so my boss allows me to work remotely and keep earning income when I return from a very brief maternity leave. (AH.)

December Spend Target: $2950 spent / $4876 saved

  • Rent/Home: $1350
  • Auto: $300
  • Bills: $200
  • Entertainment: $100
  • Food & Dining: $700
  • Health: $100
  • Infertility: $0
  • Shopping: $100
  • Travel: $0
  • Other: $100

 

My downsized goals: chasing the miniature American Dream

The baby (singular or plural) may – or may not – happen. But, I’m turning 34 NEXT FUCKING WEEK and I feel like I need to have some new goals in my life. Some new goals that involve not living like a just-graduated-from-college person for the rest of my life.

I was absolutely fine living my 20s in shared living situations to save money, and my early 30s were completely acceptable sharing a 1 bedroom apartment with my husband. But – as I’ve taken home $160k+ per year, minus taxes, for the last 3 years – I wonder what on earth am I doing this for if I can’t have some semblance of the adult life I want.

All the east coast dreams of the grande house with the huge backyard are gone. I’ve downsized my objectives – but I still have them. I’d like to own a house on not-the-crappiest street. I’d like to be able to take time off in the future (in health or in sickness) and not worrying about running out of money. I’ve made progress, but I still have a long way to go.

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The plan (with flat stocks):

2017 – close the year with ~$525k networth
2018 – savings = $45k investments + $30k after-tax bonus = $600k
2019 – savings = $45k investments + $40k after-tax bonus = $685k
2020 – savings = $45k investments + $40k after-tax bonus = $770k
2021 – savings = $45k investments + $40k after-tax bonus = $885k

OR

The plan (with ~5% growth):

2017 – close the year with ~$525k networth
2018 – savings = $45k investments + $30k after-tax bonus = $625k
2019 – savings = $45k investments + $40k after-tax bonus = $740k
2020 – savings = $45k investments + $40k after-tax bonus = $862k
2021 – savings = $45k investments + $40k after-tax bonus = $990k

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This all assumes I can perform well in my current job for the next four years, age 34-38, and not take significant time off, all while (hopefully) having two children.

My goal has always been to have $500k in the bank before having children. I have obtained that goal. My next goal is to have $1M in the bank before 40. Ideally well before 40. I’d like $1M in the back as my emergency fund and retirement fund and the fund which I do not touch. Over this same time, my husband will be doing what he does and not investing his money because he’s very risk averse. This is fine, because he will be saving up for the down payment on our (not in this part of the country) house.

Assuming I have one child in 2018/19 (age 34-35); and one in 2020/21 (36-37); by the time I have achieved this plan, I have one child who is ~3 and one who is ~1. This will enable us to, before we have to think about putting the kids into school, move to a part of the country where housing is more affordable. My husband can continue his career as a teacher in a region it is more cost effective, and I can perhaps pursue an entirely new career – or take time to spend at home with the kids.

I realize $1M is NOT “early retirement.” This is step two in my… however many step, not very well thought out plan…

Step 1: $500k before having children (age 30-35)
Step 2: $1M before 40 / + $200k cash downpayment (husband)
Step 3: $2M before 50 / + home 33% paid off (or more)
Step 4: $3M before 60 / + home 66% paid off
Step 5: $4M before 70 / + home 100% paid off / retirement

I’m not sure if any of that makes sense. So far steps 1 was achieved (woohoo) and step 2 seems like it might be achievable, if I can hold on to this job for the full four years. I am going to hold on to it with all my might. The having kids things definitely may throw a wrench in this plan regardless, but I’m hopeful I can take minimal time off for my kids when they’re really young (and/or work remote and still do my job, which might be possible)… then, after four years, we leave. We have to leave. We will never be able to afford a house here. I don’t know why that’s so important to me – I realize homeownership is a horrible financial decision – but it is. I can’t shake it. I want to design my own bathroom and kitchen… I’d like a backyard I can sit in and enjoy the sun without feeling the prying eyes of others all over me. I want a place for my children to grow up and a home to know.

So, that’s the plan. It suddenly seems all so very short term. I feel quite old. 34 is no joke. 34 is just a few years away from 40. And 40 is no longer fake adulthood. It’s serious, full-on, you’re an adult – and you’re only going to get MORE adult until you’re PAST that… and, I’m trying not to freak out about that, because I know life is so very short, and I need to just enjoy the moments and try to achieve some semblance of both freedom and control before I’m too old to enjoy it.

 

October Networth & Spend Report: $519k

Despite not having a job for four solid months this year (and spending $20k on travel during that time), with the stock market’s latest performance my net worth is still up significantly. I realize what goes up must come down, but for now I’m enjoying seeing a higher net worth than I expected given how the job situation has gone down this year, and my not-so-frugal global travels.

It’s a little upsetting that if I hadn’t taken the trips and if I was able to obtain a job sooner, my net worth would be much higher — but my goal was always to close 2017 with $500k in net worth, and I’m really happy that I likely will accomplish that, barring any crazy stock market crash.

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I do owe my husband a lot of money (we keep our accounts separate) but he’s a good lender with really great rates (no interest, just hugs.) 🙂

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October spending definitely was high, given all the traveling. But I’m hoping for Nov and December expenses will be significantly reduced. I am taking one weekend trip but otherwise it should be a relatively cheap month. Here’s how October played out:

*note – believe it or not, this is my portion of monthly spend only. My husband has a separate budget, including his portion of the rent.

  • TOTAL SPEND: $7640
  • Home – $1400 (rent)
  • Auto & Transport – $621 (car detailing, new battery, gas)
  • Bills & Utilities – $331 (accidentally had international call for $75)
  • Entertainment – $154 (concert, netflix, etc)
  • Food & Dining – $583 (only half of month when not traveling)
  • Health & Fitness – $930 (infertility treatment, glasses)
  • Shopping – $1280 (new clothes for job, prob returning some)
  • Travel – $2234 (last part of honeymoon)
  • Other – $107

Obviously, I can’t spend $7640 each month!

Spend Goals for November:

  • TOTAL SPEND: $4400
  • Home – $1400 (rent)
  • Auto & Transport – $300 (gas)
  • Bills & Utilities – $200
  • Entertainment – $200
  • Food & Dining – $800
  • Health & Fitness – $1000 (infertility treatment costs)
  • Shopping – $200
  • Travel – $200
  • Other – $100
  • (Not included – investments ~$3000)

 

Quick Update: Personal Finance this Fall

Wow, it’s been too long since I’ve updated this blog. I’ve been heads down focused on finding a new job and figuring out my life, all while trying not too dip too much into my savings. Fortunately, it seems all as worked out, for now.

My net worth this month hit $509k, which feels really good given my goal for the year was $500k and I haven’t had a job since June (though that doesn’t feel good.) I’m finally getting caught up on all of my money issues (hired an accountant to do our 2016 taxes so those will be turned in on time…) and mostly have old medical bills reimbursed properly after my COBRA election turned into a bit of an administrative nightmare.

This is all really good because I’m starting a new job NEXT WEEK! That’s right, I finally have a new job. I am really trying to be optimistic about this opportunity because, while it isn’t the most exciting job I’ve had, it’s one I think I might actually be able to succeed in. Without going into too many details, it’s a role still in tech, but it’s in a larger company where I’ll get to focus on what I’m good at (writing, mostly) instead of trying to do way too much and running an entire department in a smaller company. I had a few offers for the “run it all” in a small company but I turned them down because I know that’s a recipe for disaster.

While this role was a considerable pay cut in base salary from my last few positions, it more than makes up for that in potential bonus and stock. I’m pretty stoked about the RSUs, since I’ve never had them and they actually are worth something if you stay at the company for a year – versus stock options where you have the privilege of buying them for “lower than their worth” (even though you can’t sell them and they’re really worth $0) and then paying taxes on what they’re supposedly worth based on a whole lot of lies (I’m not bitter. Am I bitter? Ok, I’m bitter.) Meanwhile, RSUs are basically a promise that you’ll be given a certain number of shares if you keep your job each year, and you can immediately sell those shares for cash. Yes, the taxes on RSUs are high, but they’re worth something – and if the company performs well they can be worth a lot. I’m very fortunate that the company I’m joining has a lot of room to grow, and seems to be in a really great spot, so all signs are pointing towards this being the right move.

As I’ve been out of work for four months, I’m REALLY ready to get back into the swing of things. The forced sabbatical has been nice, but it’s time to have a day job again. Consulting didn’t work out this time around — my one client couldn’t raise money and only gave me a small project, and I’m not great at drumming up business. Maybe one day in the future I’ll have a good enough reputation to land me projects with the full time security, but for now — my main focus is figuring out how to and if I can have kids, which means I need good health insurance, a stable income, and a role that doesn’t require me to be on a plane every week. And that’s what I’ve got. Woohoo. More on all of this later… but I wanted to check in since I haven’t written anything since August!

10th Anniversary of Her Every Cent Counts and Exciting News

10 years ago, I wrote my first post on Her Every Cent Counts. Well, I missed the exact anniversary date, but it was on May 29, 2007 when I started writing, noting that my networth at the time was $27,000 and that my income was $35,000 a year.

Over the last 10 years, as I started to save money each year, investing in retirement and taxable accounts, I got this crazy idea that I wanted to save $500,000 before having my first child. Given I had less than $100k to my name when this idea popped into my head, it seemed to be an impossible quest.

I ran my networth numbers on June 1 and discovered that due to growth in my portfolio and other savings, I have achieved my goal of $500,000 in networth (before having kids.) It feels kind of surreal – on one hand, it feels like a huge accomplishment, to have saved $500k before my 34th birthday — on the other, as I confront the realities of unemployment and consider changing careers, I wonder if I should fight through life in a role that isn’t suited for me in order to move on to my next goal of $1M by 40 – or, do I find peace with living a simple life, find a job I can actually be good at, and not touch the $500k (outside of educational funds) so it can blossom into a substantial retirement account to enjoy later in life?

There is no one in my real life to be able to celebrate this moment with — so I’m celebrating it here with you, my anonymous and semi-anonymous readers. Thanks to you, I have kept up savings for the last 10 years – have turned down opportunities to live closer to work and in nicer housing, have generally been more frugal than my income would enable me to be, esp in the last few years, and have been heads down on achieving this arbitrary goal that nonetheless is incredibly rewarding to achieve. With 32 years left to retirement, not touching the $ and it growing an average of 5% YoY gets me to my retirement savings goal of >$2M. The trick, now, is not touching that money, and still managing to make enough to live a decent life.

Happy 10th Anniversary HECC, and to all of you who read my blog regularly or occasionally or are brand-new readers, thank you for inspiring me to be a good saver, and for making it possible to achieve this major life goal.

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