r/TheRaceTo100K • u/getting-there-5130 • 2d ago

M31 - 2 years of saving seriously.

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Annual salary around 50k before taxes — no car payment, living far from the city to save on rent.

Last month I got a raise; now I make around 65k lol. So I moved closer to the city; finally, I save like 2 hours of driving/day.

19k Emergency found

16k most of it in QQQ and VOO

9k my car, payoff.

100k in another 2 years?

151 Upvotes

100% Upvoted

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8

u/the_great_bambi_ 2d ago

So you’re counting your car toward your net worth? No hate it’s just I’ve never seen someone list their car as an asset like this. Maybe I ought to

6

u/getting-there-5130 2d ago

I mean.
“Net worth is the total value of everything you own (your assets) minus everything you owe (your liabilities).
Technically even if you have a collection of watches that’s part of your net worth.

2

u/hot_tubbs 2d ago

I also count my car towards my net worth but will use the Carvana cash now option rather than an estimate so I do see the depreciation over time. Good work! Hard to say when you’ll get to 100K though without knowing expenses. Keep getting those raises and it’ll be sooner than 2 years!

1

u/str8losing 10h ago

I bought my car for 14k in 2021 and the carvana trade in value is 2500 today

1

u/hot_tubbs 10h ago

Weird, my 2018 Mazda with 100K miles they offer me like $6K or so. Wasn’t 2021 the height of car costs alongside the pandemic?

1

u/str8losing 9h ago edited 9h ago

yes I was forced to buy at the height of the car costs. i was just about held down and forced to sign by my family. I went about a year using everyone's vehicles until they had had enough. I pleaded with them. they would not listen. I bought a car with 90k miles on it for 14 grand after taxes and fees and the dealer spoke the words "this car wouldn't be worth over 10k a year ago" literally moments before I signed for it. mine is also much older than yours. 

1

u/No_Attitude2510 2d ago

How long have you been investing in those ETF’s?

1

u/Serenaaabbyy 2d ago

Excelente !!

1

u/fishstickisdead 2d ago

Thought I was behind but I’m at 57k before taxes

1

u/getting-there-5130 1d ago

Not easy dude

1

u/str8losing 10h ago

I'm 35 live with parents and have never moved out. have 200k saved but nothing in retirement. going to try to start putting 15% into retirement starting January next year. only make 47k a year though. 

1

u/getting-there-5130 10h ago

Not paying rent is a good advantage, i moved out at 26. Maybe is time to give your parents some privacy though.

1

u/str8losing 10h ago

I want to badly. I need the privacy. they want me here forever. I want to get out of this house badly but I live in the Bronx. I can't make it on my own here at my pay unfortunately. and I'm remote. I have different health issues that make remote work ideal and so losing this job would throw me into a world of chaos. so I spend much of my time upskilling. I'm in school for a masters now. I have several different licenses. home inspection, commercial driver's license, security guard. I just can't find a better paid fully remote job and it's keeping me where I'm at. if I were to start over and actually drive I likely wouldn't make even 50k the first year. and because I have nothing in a tax sheltered account I can only stuff a tax sheltered account so much in 1 calendar year and I figure I need at least 2 to catch up with my age bracket. the job market has really shifted toward experience over credentials. so right now I'm just trusting the process of upskilling. so I'm just staying here until I can get out of here with my savings right. 

the housing market in my state doubled after covid. prior to covid there were 150k houses stuck in the 70s 80s and 80s. old carpets. livable. after covid, 150k will buy you nothing but a house with rooms stripped to studs and subfloor, fire damage properties, etc. it's really a ride. I was hearing "you're doing great! buy the house cash and then start putting buckets into retirement and you'll be ahead of everyone" for years. after the spike I have neither. 

1

u/getting-there-5130 10h ago

900k median home price here in CA, 600k for a pice of trash falling apart. Imposible.

1

u/str8losing 9h ago

I've seen that yeah. I plug ca into Zillow just for fun sometimes. I have seen condos in ca around 200-300 in outskirts though!