Author Topic: Hit 1 million net worth (Read 6805 times)

Midwestache · « **on:** March 31, 2016, 01:01:03 PM »

Since I can't tell anyone but my wife I'd like to share with everyone here I have hit $1 million in net worth today. I also want to thank everyone in the community for helping me become more Mustachian. A major reason the net worth increased so much within the last year is house appreciation.

Breakdown
3/31/16
Net worth $1003K
$413K investable assets (401K, brokerage account, Roth IRA)
$20K cash
$570K real estate (main residence and rental property)

Last year I saved 257K.

okits · « **Reply #1 on:** March 31, 2016, 01:04:51 PM »

High five! Congratulations, and that's a killer NW jump for one year!

onlykelsey · « **Reply #2 on:** March 31, 2016, 01:05:00 PM »

Congrats! Holy crap, you SAVED 257K? What's your savings rate? I was all excited about my ~100K savings anticipated this year.

Midwestache · « **Reply #3 on:** March 31, 2016, 01:08:58 PM »

Thanks for the support! Savings rate was 69.5%.

lemanfan · « **Reply #4 on:** March 31, 2016, 01:09:32 PM »

That's impressive!

saijoe · « **Reply #5 on:** March 31, 2016, 01:14:41 PM »

Congrats. Midwesterner here who got to double commas last November. We're more of the 30-35% Savings Rate type. Very impressed by yours. ;)

Vertical Mode · « **Reply #6 on:** March 31, 2016, 01:22:43 PM »

That's impressive. Congrats! I'm reasonably sure I'll have FIRE'd by the time I cross that threshold myself in another 15-20 years.

I'm reasonably sure I haven't made $257k in my entire working career... That's an enormous year-over-year improvement.

Parizade · « **Reply #7 on:** March 31, 2016, 01:25:06 PM »

truly badass! congratulation

iris lily · « **Reply #8 on:** March 31, 2016, 01:27:01 PM »

Super job, fellow midwestian!

mamagoose · « **Reply #9 on:** March 31, 2016, 01:29:30 PM »

Congratulations!

Fishindude · « **Reply #10 on:** March 31, 2016, 01:45:19 PM »

Congrats!

Roots&Wings · « **Reply #11 on:** March 31, 2016, 02:30:32 PM »

Congrats on the major milestone! Care to share any further details of your progress/how you got there? The $257k jump last year and nearly 70% savings rate are huge help :)

sulaco · « **Reply #12 on:** March 31, 2016, 03:08:56 PM »

I did today too! We have the same 2-comma-club birthday!

$281K - Real Eastate
$720K - Investments, Cash, etc.

Net worth up $272K YoY. >100% increase compared to income last year (our savings rate wasn't that high, but that's the magic of compounding and asset appreciation)!

This year I've set a goal of $300K YoY.

Midwestache · « **Reply #13 on:** March 31, 2016, 03:35:36 PM »

Congrats Sulaco👍👍. That's awesome. It's great that your assets are mostly in the market compared to real estate. That will appreciate more in the long term.

falsekrakk808 · « **Reply #14 on:** March 31, 2016, 05:34:24 PM »

Congrats to the Two Comma Club members! I'm very jealous but very eager to get into this club and I know I will with all the help/feedback from this forum. Good job peeps!

Secretly Saving · « **Reply #15 on:** March 31, 2016, 07:43:36 PM »

Congratulations. It's such a great feeling. Ride the high!

LateToTheParty · « **Reply #16 on:** April 01, 2016, 05:32:00 AM »

Hoping to get to the two comma club next year. Congrats to you, and thanks for the motivation.

SMCx3 · « **Reply #17 on:** April 01, 2016, 05:52:07 AM »

Very nice.....congratulations!

With the recent market uptick I am sure we will see more networth milestones accomplished. When the stash grows larger you will see these market swings having a much larger effect both positive and negative in your net worth. Stay the course!

275k is a huge amount.

felizcortez · « **Reply #18 on:** April 01, 2016, 07:57:46 AM »

Congrats on the milestone definitely a huge accomplishment. I'm assuming for the real estate section you subtracted out any loans you have on the properties?

My wife and I hit $1M last year with all liquid assets (stocks, bonds, cash, equivalents) which was quite a feeling for about a day and then we just got right back to socking more away in investments. I've found the stress level declines quite a bit after $1M. Investment returns start making up larger and larger portions of your portfolio movement and your regular contributions end up getting masked by those since you can have relatively large swings of 50-100k.

londonbanker · « **Reply #19 on:** April 01, 2016, 08:21:27 AM »

Congrats !! That's a huge accomplishment. The next million will come much faster; it took me almost 10 professional years to break that 1m mark and I then hit the 2m mark 2 years later!

Enjoy that special moment. It feels good.

Midwestache · « **Reply #20 on:** April 01, 2016, 08:41:43 AM »

Awesome London, I have very similar goals as you as far as amount needed to retire. I'm looking for around 3 million without including real estate. I think I should be around this number hopefully in 9 years. Thanks for all the support. The real estate amount is estimated value minus mortgage left.

londonbanker · « **Reply #21 on:** April 01, 2016, 11:40:34 AM »

Quote from: Midwestache on April 01, 2016, 08:41:43 AM

I'm looking for around 3 million without including real estate.

That's roughly where I'm at as well indeed !

Davids · « **Reply #22 on:** April 01, 2016, 11:47:09 AM »

Congrats. I hope to hit $1M networth in 2-3 years if everything works out.

albireo13 · « **Reply #23 on:** April 02, 2016, 05:51:57 AM »

Nice. I am at 1.3M now and hoping to hit 2M in a few years before retiring.

Rosy · « **Reply #24 on:** April 02, 2016, 02:30:47 PM »

Hot damn - I'm green eyed:) well, a little anyway. CONGRATULATIONS - you did it!

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Author Topic: Hit 1 million net worth (Read 6805 times)