I just updated my spreadsheet of all of our financial assets and it brought our total holdings to over $500,000 for the first time. We are officially half-millionaires! Of course, technically we had reached that point a while ago if you include home equity, of which we have about 200K, but we now have 500K just in savings and investments not counting hard assets like the home, car, jewelry, etc. We are not yet 100% debt free as we still owe about 78K on our mortgage but that still gives us a nicely positive net worth. Also, the 500K does include DD's 529 plan (42.6K) but that is still technically our money. If I really needed to (or wanted to), I could pull it out and pay the penalty.
Not a bad place to be at 46 years of age. The house should be paid off in about 7 years, possibly sooner. We should be on track to have over $2 million by the time we retire. To think that it all started with a $50 opening deposit in our first mutual fund in 1992 shortly after we got married just goes to support the value of investing steadily over time.
Not a bad place to be at 46 years of age. The house should be paid off in about 7 years, possibly sooner. We should be on track to have over $2 million by the time we retire. To think that it all started with a $50 opening deposit in our first mutual fund in 1992 shortly after we got married just goes to support the value of investing steadily over time.
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