Author Topic: Crossed the 3M mark!  (Read 3557 times)

soccerluvof4

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Crossed the 3M mark!
« on: January 05, 2018, 02:47:10 AM »
With the run up the last 3 days by about 7k I limped over conservatively the 3M mark. This despite my withdrawals and being fired what will be 3 years in April. If you see my goals below I posted its due in big part to the Huge market run up and the difference in when I sold and downsized. This does include my paid for house with a conservative value of 300k. Now lets see if it will stay here, grow and for how long. I could honestly not have done this without the help of the MMM family as I am learning stuff everyday here and a couple other sites but 90% here. Yes I am very happy but not sure I will ever be content. Not sure why that is but its just my nature I guess. In fairness I must also add that about a year ago my DW for simply getting Healthcare took a easy peasy flexible job that doesnt pay much but has great benefits. With 4 kids and all the political crap we just couldnt afford to take a chance. Now with 2 off to college in 2 years she will rejoin me. 100% of her earnings goes to 401k and HSA as I said its not much but it all adds up. And that we are just starting. I also put about 50k into remodeling the downsized house we bought and am doing a bathroom remodel starting next week I have saved for once my daughter leaves for college. Anyhow I felt I wanted to share with you guys because its been an adventure to say the least.


Re: Journal for a piece of mind
« Reply #1 on: February 26, 2014, 10:54:49 AM »
QuoteModifyRemove
These are my financial goals i posted the other day on another thread so figure I better put them in my Journal so I can reflect on them as much as possible.

Ok, See if this works out as planned. Been running these numbers conservatively for 2 months now. Currently slightly above 1.35M excluding Paid for house worth 550k.(No Mortgage) 350k Vacation Home (no Mortgage)

End of 2014 - 1.7M Figured tad low. Sale of paid for Vacation home @ 300 plus 50k savings
End of 2015-  1.8M
End of 2016- 1.9Mk
End of 2017- 2.3M 100K from savings and we will then downsize as kids go to college no more than 300k on house preferably 250k but still will have 2 kids living with us.  Want this to be at 2.5 and above so working on that now and should be higher. But then be both done!
" In life you don't get what you deserve you get what you negotiate"

marty998

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Re: Crossed the 3M mark!
« Reply #1 on: January 05, 2018, 02:50:27 AM »
Oh my god, isn't that a grand set of numbers!

Kudos to you!

Roots&Wings

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Re: Crossed the 3M mark!
« Reply #2 on: January 05, 2018, 07:06:18 AM »
Wow, that's incredible, congrats! What are the other sites you find useful?

MaybeBabyMustache

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Re: Crossed the 3M mark!
« Reply #3 on: January 05, 2018, 09:12:19 AM »
A big congrats! We've gone around that mark a few times, and passed it in 2017. Nice to close out the year end net worth with that number. Now we're working on our house remodeling plans, which will definitely drop the cash flow.

Awesome work - great to see people working hard for their goals.

soccerluvof4

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Re: Crossed the 3M mark!
« Reply #4 on: January 05, 2018, 01:35:44 PM »
Wow, that's incredible, congrats! What are the other sites you find useful?

Bogleheads.org is primarily the other one I have on screen at the same time as they have a lot of traffic. I will visit alot of smaller ones on occasion like rootofgood or Frugalwoods.com but as I said not as often. Whitecoatinvestors is another good one. I check in occasionally at ERE but thats a bit to extreme for me.



A big congrats! We've gone around that mark a few times, and passed it in 2017. Nice to close out the year end net worth with that number. Now we're working on our house remodeling plans, which will definitely drop the cash flow.

Awesome work - great to see people working hard for their goals.


Yea , I have done a lot of remodeling as I stated and have another 15k slotted thats not in my numbers above for project I am starting so that would of been another 65k. But there is always something. Congrats to you as well.
" In life you don't get what you deserve you get what you negotiate"

Bateaux

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Re: Crossed the 3M mark!
« Reply #5 on: January 05, 2018, 07:59:49 PM »
Congrats on such a huge crossover. 
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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nancy33

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Re: Crossed the 3M mark!
« Reply #6 on: January 05, 2018, 08:44:24 PM »
Congratulations

soccerluvof4

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Re: Crossed the 3M mark!
« Reply #7 on: January 06, 2018, 02:18:13 AM »
Congratulations
Congrats on such a huge crossover.


Would it be not awesome if woke up every morning and just kept going up. Crossed the line further with yet again market melt up! Sadly it will come to an end. Kinda fun though while it lasts! a 50% correction now would be still double of what it was in 08. Crazy
" In life you don't get what you deserve you get what you negotiate"

Bateaux

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Re: Crossed the 3M mark!
« Reply #8 on: January 06, 2018, 04:08:31 AM »
Congratulations
Congrats on such a huge crossover.


Would it be not awesome if woke up every morning and just kept going up. Crossed the line further with yet again market melt up! Sadly it will come to an end. Kinda fun though while it lasts! a 50% correction now would be still double of what it was in 08. Crazy

I'm thinking if you haven't already,  it's time to be diversified.  But you didn't get where you are making bad decisions, so I'm sure you'll be fine. 
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soccerluvof4

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Re: Crossed the 3M mark!
« Reply #9 on: January 06, 2018, 04:21:56 AM »
Congratulations
Congrats on such a huge crossover.


Would it be not awesome if woke up every morning and just kept going up. Crossed the line further with yet again market melt up! Sadly it will come to an end. Kinda fun though while it lasts! a 50% correction now would be still double of what it was in 08. Crazy

I'm thinking if you haven't already,  it's time to be diversified.  But you didn't get where you are making bad decisions, so I'm sure you'll be fine.


I am diversified amongst my funds BUT for 2-3 years I have been looking for investment/rental properties following alot of principles I have read or found on MMM but just havent had any luck and I look all the time. So i do look all the time for different investment opportunities be it a small business that just needs someone to oversee it from time to time etc... striking out though.
" In life you don't get what you deserve you get what you negotiate"

HAPPYINAZ

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Re: Crossed the 3M mark!
« Reply #10 on: January 06, 2018, 11:21:48 AM »
Congratulations! 

Accidental Miser

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Re: Crossed the 3M mark!
« Reply #11 on: January 06, 2018, 11:30:20 AM »
Congrats!  You're an inspiration to us all!

SwordGuy

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Re: Crossed the 3M mark!
« Reply #12 on: January 06, 2018, 11:31:46 AM »
Congrats!   

We're FIREing in May, so I expect our progress to $3M from $2.5M will slow down.    Then again, a few more good years in the market...



soccerluvof4

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Re: Crossed the 3M mark!
« Reply #13 on: January 07, 2018, 02:32:56 AM »
Congrats!   

We're FIREing in May, so I expect our progress to $3M from $2.5M will slow down.    Then again, a few more good years in the market...


Oh, wow! Thats right around the corner! Exciting I bet! Yea it will be interesting with this market but is what it is. One would think 2018 should be ok but there is no logic for what its done so who knows.
" In life you don't get what you deserve you get what you negotiate"

ginjaninja

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Re: Crossed the 3M mark!
« Reply #14 on: January 10, 2018, 10:15:59 AM »
Awesome Job!  I bet you guys are getting excited.
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birdman2003

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Re: Crossed the 3M mark!
« Reply #15 on: January 11, 2018, 07:04:54 AM »
Congratulations, that is a fantastic milestone!

FIRE_at_45

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Re: Crossed the 3M mark!
« Reply #16 on: January 11, 2018, 07:53:23 AM »
That's a huge pot of money!  You are fortunate to have a house and only need to put $300 K into it.  Wow!  Here houses go for $1.6 M and owning one is now out of reach for me. 

What type of withdrawal rate are you using?  With that much cash if you withdrew 4% on $2 M and left the house and $1 M growing you will be mega rich! 

Congratulations!  With a family of 6 that's impressive. 
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Midwestache

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Re: Crossed the 3M mark!
« Reply #17 on: January 11, 2018, 10:13:17 AM »
Congrats! That's awesome, my goal is to have 3MM also.

soccerluvof4

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Re: Crossed the 3M mark!
« Reply #18 on: January 13, 2018, 03:36:16 AM »
That's a huge pot of money!  You are fortunate to have a house and only need to put $300 K into it.  Wow!  Here houses go for $1.6 M and owning one is now out of reach for me. 

What type of withdrawal rate are you using?  With that much cash if you withdrew 4% on $2 M and left the house and $1 M growing you will be mega rich! 

Congratulations!  With a family of 6 that's impressive.


2 are off to college this year. One went in Fall my oldest and then my daughter graduated early and left a week a go. Both are far away but are on basically full rides for their sports but it still costs us money when you think of the money to go see them and we did fire them some $ here and there when I come under budget.

To answer your question we Budget 80k a year. Last 2 years were a bit higher closer to 5% withdrawal because we did a lot of remodeling in our paid for house and to be honest I took profits with the market rise. This year we are going back to under 4% as I only have a bathroom to do UNLESS we  have a repeat of last year because I have to much cash so instead of a 80k withdrawal we will do 50k and 30 of cash till we get back down to 2-3 years in savings vs 3-5 years. I could dump it all in now but would prefer to do it this way so if we do have a correction I have more to buy on sale. I know other word argue that BUT its what helps me sleep at night!
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FIRE_at_45

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Re: Crossed the 3M mark!
« Reply #19 on: January 13, 2018, 10:58:40 AM »
Congratulations also on your kids with scholarships for sports.  I assume soccer?  I have a daughter who is playing high level but we will likely opt to have her play one level down so she can continue to play other sports. Today they make sports all consuming and I don’t agree with it.  There’s also the risk of injury from almost exclusively playing on turf in our rain filled climate.

Wait, we aren’t talking soccer ;)

Good idea to take advantage of the market returns. You have such a great nest egg that you can be extremely flexible on you WR rate.  Even a 2% dividend return would net close to 60 K! 

Awesome job!
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soccerluvof4

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Re: Crossed the 3M mark!
« Reply #20 on: January 19, 2018, 04:54:04 AM »
Congratulations also on your kids with scholarships for sports.  I assume soccer?  I have a daughter who is playing high level but we will likely opt to have her play one level down so she can continue to play other sports. Today they make sports all consuming and I don’t agree with it.  There’s also the risk of injury from almost exclusively playing on turf in our rain filled climate.

Wait, we aren’t talking soccer ;)

Good idea to take advantage of the market returns. You have such a great nest egg that you can be extremely flexible on you WR rate.  Even a 2% dividend return would net close to 60 K! 

Awesome job!


You would be correct on the soccer scholarships.  And I agree, today sports have become all almost a year round commitment and its been kinda lost those days were kids could play multiple sports and still go onto college to play. Not to mention just makes it more expensive. We laugh because we basically over the years paid for the scholarships but the memories and good times we had traveling will always be remembered. 2 down 2 to go!
" In life you don't get what you deserve you get what you negotiate"

dude

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Re: Crossed the 3M mark!
« Reply #21 on: January 19, 2018, 08:49:01 AM »
That's a lot of money anywhere, but in the "arctic Midwest"? That's a princely sum! Congrats!

soccerluvof4

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Re: Crossed the 3M mark!
« Reply #22 on: January 19, 2018, 03:14:22 PM »
That's a lot of money anywhere, but in the "arctic Midwest"? That's a princely sum! Congrats!


Very much do to downsizing, cutting back things I didnt need and then putting in the market and letting it do what its done. I had no direction till finding MMM about 4-5 years ago. Thanks!
" In life you don't get what you deserve you get what you negotiate"