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About Me:

ceejay74

I'm the CFO of a three-adult, two-child, two-cat household. There's me (CJ, age 49), my husband (NT, age 50), my wife (AS, age 44), and our kids AA (age 13) and SL (age 11). The cats are named Whiskey and Clue and they're about 12 years old.

Until July 2007 we hadn't been serious about financial stability, but then we started focusing on paying down our massive debt, building an emergency fund and saving for retirement. In October 2010, we finished paying off all of our credit card debt--over $70,000! Adding in student loans and mortgages, we've paid off more than $250,000 of debt so far. In June 2015, we used a windfall to pay off all our remaining non-home-related debt!

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Big picture goals:

Buy a rental property in Minneapolis in 2022

8x income by age 65 OR Coast FIRE by 2031 (tracking retirement in two ways at the moment)

Completely debt-free by age 65 (2039)

My Pages

I have positive net worth!

September 21st, 2009 at 04:28 pm

I just updated the Individual Net Worth page and realized that my net worth is finally positive for the first time in my adult life! Yep folks, I'm worth $598 more than I owe. Woo hoo!

AS is the only one who still has negative individual net worth. The main reasons we're not making faster progress on hers are that all her debt is "better" debt than mine (meaning we at least get tax relief on the interest), and she doesn't have much of a retirement fund yet so it doesn't reflect the big ups and downs of the market. But we're chipping away at her debt and gradually building up some retirement savings, So her net worth has improved by $4K-$5K this year. But it'll be awhile before her net worth starts to grow by leaps and bounds. (She's also the youngest, which is another reason her retirement funds aren't as big.)

Posted in Tracking Net Worth | 5 Comments »

5 Responses to “I have positive net worth!”

creditcardfree Says:
September 21st, 2009 at 04:34 pm 1253550877
1253550877

Congratulations!! Your hard work is paying off.
Broken Arrow Says:
September 21st, 2009 at 05:56 pm 1253555784
1253555784

Terrific! I have to say that, of all the milestones, crossing this one was the most important to me. Because, even when I was in debt, I knew that to even hit this meant that things were not as hopeless as it seems, and that at least I can go into black from this point on. Truly a great moment! Congratulations!
LuxLiving Says:
September 21st, 2009 at 05:56 pm 1253555796
1253555796

Congratulations! Inch by inch ba-beeeeeeee!
whitestripe Says:
September 21st, 2009 at 09:44 pm 1253569450
1253569450

oooh congratulations! that's wonderful news. i have to say i am amazed at how well you all work together - sometimes it's hard enough with DF and my own finances since we combined (who paid more on the mortgage this month? can we pay more off my personal loan? etc etc), there is a lot of trust involved and i think you guys do so well
boomeyers Says:
September 22nd, 2009 at 12:04 am 1253577871
1253577871

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Ceejay74's Personal Finance Blog

A blog to help me document my journey out of debt.

I have positive net worth!

5 Responses to “I have positive net worth!”

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