A Year Later ….

This blog was born about a year ago and man, have things changed since! I have been thinking about how much harder it was to get to the first $100- $200k compared to how much faster things seem to be moving after we crossed the $300-400k line. Granted, our journey is a little strange as we kept taking random time off work and spending a lot of what we saved but, the end result in terms of asset accumulation is still is pretty interesting.

Obviously our strong focus on FIRE for about 1.5 years now, much larger dual incomes after a period of unemployment and work breaks have helped as much as the incredible market ride as of late which has propelled this forward. It does make it super fun to see that even small gains amount to a lot more $ these days compared to even last year. I have to remember to breath when it does the same when market decides to explore negative territory :).

Let’s revisit what I wrote a year ago, when the FIRE dream was just starting:

As of August 2016, our investable assets stand at $335k. I guesstimate that about $200k of this came from our savings from 2001 until 2009. We did not save anything from then until about 2012 really, the rest was saved from late 2013 to today. Our 529s ended 2015 with about $5k. Today (August 2016) we have a combined $26k balance for both kids, much of which was added this year as we started a super funding strategy.

A Year Later…

Assets: Liquid assets stand $525.2k. It is strange to see the market still going up and I keep reminding myself to stay the course when/if the correction comes. Our home has about $135k in equity assuming about 10% expense costs between real estate fees and random taxes, so total net worth is about: $660,000. Woot!

It is crazy to look back and see that exactly a year ago – August 2016, our assets stood at $335k – that is $190k dollars difference in one year! Check out this progression, feels almost surreal (liquid assets only, excludes 529s – those we count separate as money we won’t have available):

  • 2001 – 2009: $200k (8 years!)
  • 2009 – 2016: $335k (7 years to add an extra $100k+)
  • 2016 – 2017: $525K (1 year, $190 added! yikes!)

Debt: $125.1k, still on track to end at $118k without issues.

529 combined: $54.7k combined. A year ago our combined balance here was $26k! Huge accomplishment especially given how much we also saved for our retirement.

Expenses YTD: $42.9k. It is going to be a nail-biter ending within the $75k or under goal as we have a few unaccounted for car related expenses and a few other things to consider. I remain cautiously optimistic.

How are things going with you? At what point in your savings did you start feeling like things were really snowballing? How long did it take you to make each $100k?

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