Hit a real million today

[MilesTeg]

So, I consider the following stages of having a 'million' dollars.

Fake Million: Net worth pre tax
Hopeful Million: Net worth post tax
Real Million: net worth post tax and with a a 50% buffer on equities and other volatile assets.

I consider not having the buffer not being real because equities can easily lose ~50% of their value overnight (as we saw in March). Though I could buy the argument even that is not real hah.

[TheAnonOne]

So, I consider the following stages of having a 'million' dollars.

Fake Million: Net worth pre tax
Hopeful Million: Net worth post tax
Real Million: net worth post tax and with a a 50% buffer on equities and other volatile assets.

I consider not having the buffer not being real because equities can easily lose ~50% of their value overnight (as we saw in March). Though I could buy the argument even that is not real hah.

A million is just a number. Becoming a millionaire is simply a net worth of 1m. I don't see why we really need 1,500,000 to actually have 1 000 000. Obviously this can fluctuate. Are you a real multimillionaire when you have 1.5 mil because your stocks could go up?

[ixtap]

Is that taxes if you took it all tomorrow or taxes with your expected withdrawal rate and strategy?

[MilesTeg]

Is that taxes if you took it all tomorrow or taxes with your expected withdrawal rate and strategy?

Taxes if we liquidated it all at once.

Obviously that's not the plan, and what I'm saying is, of course, just another arbitrary milestone. But it's an important one to me.

[Simpli-Fi]

Cool, another made up Milestone...with seemingly random rules.

Yea, me too!

[YttriumNitrate]

Cool, another made up Milestone...with seemingly random rules.
Yea, me too!

It's fun making up milestones.

I'm (hopefully) about 5-10 years away from being an Inigo Montoya Millionaire. Since people who have six fingers on their right hand would naturally count with a base-11 numbering system, becoming an Inigo Montoya Millionaire requires $1,000,000 in base-11 (or about $1.77 M for those who count with 10 fingers).

[MilesTeg]

Cool, another made up Milestone...with seemingly random rules.

Yea, me too!

Arbitrary, not random:p

[FIRE Artist]

Cool, another made up Milestone...with seemingly random rules.

Yea, me too!

I think whatever keeps people motivated is good. 

[Rosy]

First off congrats on that cool million! and a half:).
You rock!!!

Heck yeah, we get to be arbitrary curmudgeons or slick operators behind a wall of stealth wealth or whatever else we please!
Considering the impact of tax is a smart, realistic move.
Well done!

[rmorris50]

If you want to take it to the next level make a pie chart that shows how much of your assets you expect to go to what, assuming you spend it all. Gotta eat to right, why not deduct your net worth for that?

I view taxes just like any other expense I plan for in my household cash flow projections. Net Worth is Net Worth, and not a good indicator of when to retire. Projecting out sources of income and expenses year over year is the best way to do that. NW is one source of creating income. Jobs, social security, child support, rental income, pension, inheritance, etc are others.


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[cooking]

Any way you slice it or dice it, it's a good place to be.