Net Worth Comparison

Ikeh89's Profile

Currency
United States Dollar - USD
Date Joined
12/16/2020
Salary Range
80,000 - 89,999
Occupation
Government
Age Range
30-34
Cost Of Living
High Cost Of Living (HCOL)
About Me
Federal Employee. Married w/ Kids. Just trying to get by!

Goals:
07/2023 - Reach 1 million dollar total net worth by January 1, 2033
02/2024 - Reach 1 million dollars in my TSP account by January 1, 2040

Milestones:
09/2023 - Mortgage free - bought a house with cash
01/2024 - $500K net worth (34-me/28-wife, years old)
02/2024 - $100K in TSP Retirement (87 months since opened)


Salaries: (Mike+Wife)
Started with NWS
2016: 35K+20K (ages 26 & 20)
2017: 42K+25K (ages 27 & 21) - Kid #1
2018: 47K+50K (Wife got new job) (ages 28 & 22)
---Moved & Switched jobs--
Started with FAA-Wife decided to stay at home.
2019: 50K (ages 29 & 23) - bought house.
2020: 78K (ages 30 & 24) - Kid #2
2021: 81K (ages 31 & 25)
2022: 84K (ages 32 & 26)
2023: 89K (ages 33 & 27)
---Moved & Switched jobs--
Started with DoD
2024: 86K (ages 34 & 28)
Why I Joined
Compare and track. I also use Personal Capital, but due to dual authorization and security of banking sites, its getting harder to use without hassle.
Best Financial Decision
Buying my house in 2019. I bought a house that I knew would appreciate above average. It cost me a tad more than what I wanted, but I really loved it and knew others would do if I eventually moved. We bought at 260K in June 2019, and we sold August 2023 for $397K. While we were living there, we paid the $260K mortgage down to $160K. So, after realtor fees after selling we walked away with $220K. We moved to Illinois and bought our home in cash for $215K. This one move changed our trajectory and gave us options for our future!
Worst Financial Decision
When I bought my house in 2019 with a VA loan, I paid extra to buy a lower interest rate, then refinanced anyway 1 year later. Now my lender did give me a decent deal, so it didn't cost a ton to refinance but it was overall a dumb this from the start to pay the extra to lower my rate from 4.25% to 4% then refinance to 3%.
Current Investing Strategy
Invest in TSP and Roth IRA. I also have a little bit in crypto. I'm >90% Stocks, Aggressive Growth.

April 1, 2024 - Decided to just take the hit and bumped my TSP contribution to 15%: 9% traditional and 6% Roth. Still getting the bonus +5% match. Plan to go 7%(T)/8%(R) split when I get my pay raise in August.
How do you manage your finances?
I'm a combo of "The Money Guy" FOO and "Dave Ramsey" Baby Steps.
What tools do you use?
Personal Capital, Excel
I need financial help with...
Future Prospects, Plan for the future, Taxes
Favorite Authors
Dave Ramsey, The Money Guy Show, Caleb Hammer
Favorite Books
Total Money Makeover, Everyday Millionaires, Smart Money Smart Kids, Strong Fathers, Strong Daughters
Reading List:
07/11/2023 - The Landlords Troubleshooter
Website
https://www.sofi.com/invite/money?gcp=b1197a55-8be4-42a9-a6e6-521c8d6974a2&isAliasGcp=false&fbclid=IwZXh0bgNhZW0CMTEAAR2zYTQdMQPCBZAa_iTYViu2Z9q9-CbPxpS81lYvx1wTCXGiknWiV1kM0Kk_aem_ARFXbvXdmgC7L3fKkZ1pWt-H-e6VXE87fTO3lnfTZ3zbtn9z8ysKoOaJg1aGiezbI52KJYmUg5RTQ8qFdtdnRT8s
Last Login
6/13/2024
Budget
View Budget
Net Worth Entries
All values shown in USD ($)
2024 - June $571,151 $10,505 $560,646
2024 - May $543,098 $9,271 $533,827
2024 - April $546,469 $10,735 $535,734
2024 - March $545,144 $8,983 $536,161
2024 - February $521,517 $9,635 $511,882
2024 - January $522,844 $15,439 $507,405
2023 - December $512,675 $18,875 $493,800
2023 - November $495,234 $18,734 $476,500
2023 - October $480,962 $8,463 $472,499
2023 - August $619,917 $151,613 $468,304
2023 - July $607,094 $152,855 $454,239
2023 - June $593,049 $154,787 $438,262
2023 - May $586,725 $152,584 $434,141
2023 - April $527,582 $156,134 $371,448
2023 - March $519,533 $157,941 $361,592
2023 - February $519,239 $159,834 $359,405
2022 - January $549,871 $200,000 $349,871
2021 - January $485,047 $225,000 $260,047
2020 - January $449,197 $240,000 $209,197
2019 - June $434,900 $259,900 $175,000
2019 - January $161,559 $0 $161,559
2018 - January $106,424 $0 $106,424