My Net Worth Update 2024 | Real Numbers
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- Опубліковано 4 жов 2024
- #financialfreedom #debtfreejourney #networth
This is our family's net worth as of August. Our debts are slowly decreasing
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**This video is not financial advice. I am not a financial advisor and am just sharing my own experience.
I’m 50 and my husband is 54. Currently our net worth is 1.7 million. 1.2 million of that is in retirement accounts. I track out net worth monthly. We still have $180,000 left of our mortgage -that we hope to pay off before we retire. We are making extra payments and the interest rate is 2.75%. Sometimes it’s good to be old and have outstanding credit. 😉 We have $475,000 in equity, but we prefer to think of it as our place to live rather than an investment. I only track it in case of catastrophe. We have one kid in college right now that we support financially ( we did save a 529 for her) she has one more year and the money is almost gone. We have another daughter going in 2 years. She has a 529 as well. We spaced them out 5 years apart so we wouldn’t have to pay 2 day care fees but it worked out for college as well. 😂. Let me tell you a little secret. Our neighbors think we are broke. We don’t live flashy. If I picked up a rock and threw it I would hit boats, RV’s, 4 wheelers and multiple new cars that my neighbors have. We chose to invest instead of buy toys. Keep going. It pays off.
@loveandjoy810 That is so awesome! We definitely try to live below our means and invest as much as we can. Right now it's hard to add to our investments so I'm so happy we were contributing a lot the last 4 years because now we can take advantage of much more compounding.
I took out a retirement "loan" but the interest and payment pays me back. I just did a NW video and call it a grey area. But since the payment is automatically deducted from my paycheck, it leans onto the loan side. Thank you for sharing the NW. Nice job!
@frugaltofi that is exactly what my loan is like.Technically I owe it (to myself) but every payment towards it is actually a retirement contribution.
1.2m net worth, zero debts. Retired at 55 to Asia. Geo Arbitrage. Smarter not Harder 😊
Nice!
Looking at NW to feel less bad about debt. Chuckle. We had $3M for a while. Thank you for sharing!
@7SideWays oof $3M. Our half million is stressful enough!
Thanks for sharing! 😊 I always find it fascinating what other people’s net worth is! I’m at 452k for retirement investments and 282k equity in my home. I’m 52 but started very late after raising 4 children and a divorce 7 years ago.
@cecciliaruns72 that's great progress!
Bought too much house?. Downsize clear the debt........
I definitely bought too much house but it would cost way more to sell or downsize right now.