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Happy New Year!
New Year's is typically when I go in and tabulate our financial progress, and evaluate how the year has gone financially.
Overall, 2019 was pretty good to us! Obviously, the strong stock market returns have helped alot. Some notables from the year:
- We hit millionaire status on/around Independence Day! (seems appropriate) Pretty happy about that, especially with both of us just 33 y/o.
- DW became a SAHM in April (medical retirement from the military), which reduced our income by over $7k/mo. Gratefully, she still gets a small ($1.6k/mo) "retirement" pension, and most of her previous income was just going to childcare & heavy savings -- we knew ~6-8 months out that she was likely going to get the boot, so we were able to adjust our budget to prep for it.
- First full year of having our rental house paid off, so that income (net $1k/mo) offsets DW's income reduction somewhat.
- Maxed out Roth IRAs for DW & I, maxed my TSP, and managed to load DW's TSP with $10.7k before she left the military.
- Added $3k between both boys' 529s, plus $720 between both UTMAs
- We're very cash-heavy, building up for a $150k+ DP (we'll PCS in April) -- still need to sell another $23k of our taxable investments to hit that goal.
Annual Income: $220k
Total Net Worth: $1.09M (+$243k/27%)
-- Retirement: $525k
-- Real Estate: $352k (worth $625k, owe $267k)
-- Non-Retirement Investments: $65k (incl. $31k in 529s & $10k in UTMAs for our 2 & 4 y/o boys)
-- Cash/MM/EF: $149k
Savings rate: 32% (down from 48% before my wife left the military)
Average investment returns: ~20%, with an 85% stock/15% bond AA
ETA: When I sent these numbers to DW for her awareness, I realized a couple other notables... Our net worth went up more than we earned this year! Looking deeper, our investments earned 3-4x what we contributed to them! Not sure when that balance tipped in the "right" direction for us, but that's pretty cool! (of course, that again is helped by the strong stock market... but I'll take the win)
How did 2019 go for you all?
New Year's is typically when I go in and tabulate our financial progress, and evaluate how the year has gone financially.
Overall, 2019 was pretty good to us! Obviously, the strong stock market returns have helped alot. Some notables from the year:
- We hit millionaire status on/around Independence Day! (seems appropriate) Pretty happy about that, especially with both of us just 33 y/o.
- DW became a SAHM in April (medical retirement from the military), which reduced our income by over $7k/mo. Gratefully, she still gets a small ($1.6k/mo) "retirement" pension, and most of her previous income was just going to childcare & heavy savings -- we knew ~6-8 months out that she was likely going to get the boot, so we were able to adjust our budget to prep for it.
- First full year of having our rental house paid off, so that income (net $1k/mo) offsets DW's income reduction somewhat.
- Maxed out Roth IRAs for DW & I, maxed my TSP, and managed to load DW's TSP with $10.7k before she left the military.
- Added $3k between both boys' 529s, plus $720 between both UTMAs
- We're very cash-heavy, building up for a $150k+ DP (we'll PCS in April) -- still need to sell another $23k of our taxable investments to hit that goal.
Annual Income: $220k
Total Net Worth: $1.09M (+$243k/27%)
-- Retirement: $525k
-- Real Estate: $352k (worth $625k, owe $267k)
-- Non-Retirement Investments: $65k (incl. $31k in 529s & $10k in UTMAs for our 2 & 4 y/o boys)
-- Cash/MM/EF: $149k
Savings rate: 32% (down from 48% before my wife left the military)
Average investment returns: ~20%, with an 85% stock/15% bond AA
ETA: When I sent these numbers to DW for her awareness, I realized a couple other notables... Our net worth went up more than we earned this year! Looking deeper, our investments earned 3-4x what we contributed to them! Not sure when that balance tipped in the "right" direction for us, but that's pretty cool! (of course, that again is helped by the strong stock market... but I'll take the win)
How did 2019 go for you all?
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