I didn’t think it was possible, but with the solid growth of the stock market this year, a $10k raise mid-year, and mild frugality (let’s not go so far as calling myself frugal because I definitely wasn’t), I hit my goal of saving $250,000 before I turned 30!
I’m mostly amazed because this year I bought a car (for ~$19k cash including warranty, I’m counting $10k of that towards my networth currently) and took a $3000+ trip to Southeast Asia. While I still feel like $250k is a drop in the bucket in terms of affording life in Silicon Valley, it represents a major victory for my personal goals (remember I started at $25k in 2007 and was down to $18k in 2008.)
Now I am going to try to save above and beyond $250k this month as I want to get to $300k minimum by Jan 1, 2015 – and I’d like to max out my 401k early on next year (ie put 90% of my income for first few months into the 401k, so keeping more cash liquid right now than I normally would.)
Here is my full NetworthIQ report for Dec 1.