Author Topic: Single (Retirement) Account hit $1 mil  (Read 3830 times)

JoJo

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Single (Retirement) Account hit $1 mil
« on: June 07, 2018, 05:41:38 PM »
I hadn't logged on for awhile, but discovered my current account at my current employer (401k + deferred comp) just crossed the $1m mark.  It's crazy seeing that number on one computer screen (not in my spreadsheet aggregate of all accounts). 

My housing valuation has also gone up quite a bit since I last checked.  A very good day indeed!

Maybe it's time to pull the plug and RE.

Acorns

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Re: Single (Retirement) Account hit $1 mil
« Reply #1 on: June 07, 2018, 08:03:18 PM »
Wow! That is a huge accomplishment! Congratulations! How long have you had this account? Does it have any rollover funds? I don't know that I will ever get to $1 Million in a single account, but maybe someday!

ThatGuy

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Re: Single (Retirement) Account hit $1 mil
« Reply #2 on: June 07, 2018, 08:17:57 PM »
I'm jealous!  I won't hit a million in a single account but I might hit a million net worth.  I'll settle for that.

ian89T

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Re: Single (Retirement) Account hit $1 mil
« Reply #3 on: June 07, 2018, 10:49:42 PM »
Congratulations! How long did it take you to get there? Also, what kind of networth are you looking at now?

JoJo

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Re: Single (Retirement) Account hit $1 mil
« Reply #4 on: June 08, 2018, 12:47:03 PM »
Congratulations! How long did it take you to get there? Also, what kind of networth are you looking at now?

This is maximizing 401k for 12 years + deferring 50% of salary & 100% of bonus for a few years.  I'm not disclosing the other number :)


MilesTeg

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Re: Single (Retirement) Account hit $1 mil
« Reply #5 on: June 08, 2018, 01:24:56 PM »
Congratulations! How long did it take you to get there? Also, what kind of networth are you looking at now?

This is maximizing 401k for 12 years + deferring 50% of salary & 100% of bonus for a few years.  I'm not disclosing the other number :)

Awesome to see that in one account, but are you saying you put taxable funds into your 401k? If so, why?

Bird In Hand

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Re: Single (Retirement) Account hit $1 mil
« Reply #6 on: June 08, 2018, 02:01:15 PM »
Awesome job, OP!  To do that in 12 years is impressive.

It took my wife and I about 18 years to reach that milestone (2 years ago), but that's our combined accounts.  I never really tallied up my personal retirement accounts, but I just did so and realized I'm at $1.02MM.  I must have crossed that threshold sometime this year.  Cool!

JoJo

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Re: Single (Retirement) Account hit $1 mil
« Reply #7 on: June 08, 2018, 04:01:51 PM »
Congratulations! How long did it take you to get there? Also, what kind of networth are you looking at now?

This is maximizing 401k for 12 years + deferring 50% of salary & 100% of bonus for a few years.  I'm not disclosing the other number :)

Awesome to see that in one account, but are you saying you put taxable funds into your 401k? If so, why?

No.  This entire account is tax deferred.  It's an executive Deferred Comp Plan - I have to take it out in 15 year payment (I had other choices but wanted to spread it over the most years).


Norioch

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Re: Single (Retirement) Account hit $1 mil
« Reply #8 on: June 09, 2018, 03:52:55 AM »
That's awesome! Congratulations!

UnleashHell

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Re: Single (Retirement) Account hit $1 mil
« Reply #9 on: June 09, 2018, 05:13:15 AM »
nice. you should travel more now :D

Bateaux

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Re: Single (Retirement) Account hit $1 mil
« Reply #10 on: June 10, 2018, 06:30:28 AM »
My company 401K is currently at an all time high of $997,996.
 I'm gonna be pissed if the market drops on Monday and it doesn't turn $1,000,000 for the very first time. 

JoJo

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Re: Single (Retirement) Account hit $1 mil
« Reply #11 on: June 11, 2018, 12:43:21 PM »
nice. you should travel more now :D

Seriously thinking about it.

JoJo

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Re: Single (Retirement) Account hit $1 mil
« Reply #12 on: June 11, 2018, 12:43:53 PM »
My company 401K is currently at an all time high of $997,996.
 I'm gonna be pissed if the market drops on Monday and it doesn't turn $1,000,000 for the very first time.

Well, how'd you do?

Bateaux

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Re: Single (Retirement) Account hit $1 mil
« Reply #13 on: June 11, 2018, 01:18:52 PM »
My company 401K is currently at an all time high of $997,996.
 I'm gonna be pissed if the market drops on Monday and it doesn't turn $1,000,000 for the very first time.

Well, how'd you do?

$998,908  My Mason Jar money would kick it over the top!  There is always tomorrow.
« Last Edit: June 11, 2018, 10:36:26 PM by Bateaux »

Bateaux

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Re: Single (Retirement) Account hit $1 mil
« Reply #14 on: June 13, 2018, 01:14:55 AM »
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

The day has come!   1,000,763 in the 401K alone!

dude

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Re: Single (Retirement) Account hit $1 mil
« Reply #15 on: June 13, 2018, 08:44:26 AM »
congrats! Wife and I have @$1.2mil invested, of which my accounts cover roughly $800k. Still hard for me to fathom, since I come from a lower middle class family that lived paycheck to paycheck.

MilesTeg

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Re: Single (Retirement) Account hit $1 mil
« Reply #16 on: June 13, 2018, 10:35:50 AM »
Congratulations! How long did it take you to get there? Also, what kind of networth are you looking at now?

This is maximizing 401k for 12 years + deferring 50% of salary & 100% of bonus for a few years.  I'm not disclosing the other number :)

Awesome to see that in one account, but are you saying you put taxable funds into your 401k? If so, why?

No.  This entire account is tax deferred.  It's an executive Deferred Comp Plan - I have to take it out in 15 year payment (I had other choices but wanted to spread it over the most years).

Ahh, I'd not heard of those. Sweet deal...

Dragonswan

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Re: Single (Retirement) Account hit $1 mil
« Reply #17 on: June 19, 2018, 08:49:19 AM »
I hadn't logged on for awhile, but discovered my current account at my current employer (401k + deferred comp) just crossed the $1m mark.  It's crazy seeing that number on one computer screen (not in my spreadsheet aggregate of all accounts). 

My housing valuation has also gone up quite a bit since I last checked.  A very good day indeed!

Maybe it's time to pull the plug and RE.
Well done JoJo.  I know you're not disclosing your net worth, but if the non housing portion will cover all your expenses and the cost of amusing yourself in retirement, I say retire.

Dicey

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Re: Single (Retirement) Account hit $1 mil
« Reply #18 on: June 19, 2018, 09:05:56 AM »
This shit works, it really works! Congratulations, JoJo!

JoJo

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Re: Single (Retirement) Account hit $1 mil
« Reply #19 on: June 20, 2018, 04:21:38 PM »
I'm super interested to maybe sell the condo... found out this morning  identical condo next to mine has 2 offers above asking price of $784K.  For an 813 s.f. apartment.  It's crazy times.  Maybe time to pull the plug.   They did some reno, but surprisingly little.  Amazing what some paint, staging, and good pictures do.

 

Bateaux

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Re: Single (Retirement) Account hit $1 mil
« Reply #20 on: June 20, 2018, 07:50:36 PM »
I'm super interested to maybe sell the condo... found out this morning  identical condo next to mine has 2 offers above asking price of $784K.  For an 813 s.f. apartment.  It's crazy times.  Maybe time to pull the plug.   They did some reno, but surprisingly little.  Amazing what some paint, staging, and good pictures do.

Dump it on the market and be a citizen of the world if you choose.

Bateaux

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Re: Single (Retirement) Account hit $1 mil
« Reply #21 on: June 20, 2018, 07:52:15 PM »
The recent market slide on trade has gutted me back sub 1 million in the 401k.  It was pretty to look at while it lasted.

Car Jack

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Re: Single (Retirement) Account hit $1 mil
« Reply #22 on: June 21, 2018, 12:42:06 PM »
I hate when that happens....

Davids

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Re: Single (Retirement) Account hit $1 mil
« Reply #23 on: June 24, 2018, 02:54:12 PM »
I have a NW over $1M but not one account is anywhere near $1M. I think maybe I could get one individual account to $500K at some point.

JoJo

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Re: Single (Retirement) Account hit $1 mil
« Reply #24 on: June 25, 2018, 11:23:46 AM »
The recent market slide on trade has gutted me back sub 1 million in the 401k.  It was pretty to look at while it lasted.

I was nervous to look, but as of Friday, mine was still a few $s more than $1m.  It helps that there's still money + matching going in every 2 weeks.


Bird In Hand

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Re: Single (Retirement) Account hit $1 mil
« Reply #25 on: June 25, 2018, 12:27:55 PM »
I have a NW over $1M but not one account is anywhere near $1M. I think maybe I could get one individual account to $500K at some point.

D'oh, somehow I totally misread the intent of the OP's thread.  I thought he was saying he was single, with $1MM in retirement savings (often a bigger accomplishment than a couple who saved $1MM in combined accounts).

Yeah...yeesh, we have about 10 retirement accounts, and it's possible that one or two of them will reach $1MM eventually.  But I'm just as happy if all 10 in aggregate enable our SWR!

Slee_stack

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Re: Single (Retirement) Account hit $1 mil
« Reply #26 on: July 11, 2018, 12:42:32 PM »
I have a NW over $1M but not one account is anywhere near $1M. I think maybe I could get one individual account to $500K at some point.

D'oh, somehow I totally misread the intent of the OP's thread.  I thought he was saying he was single, with $1MM in retirement savings (often a bigger accomplishment than a couple who saved $1MM in combined accounts).

Yeah...yeesh, we have about 10 retirement accounts, and it's possible that one or two of them will reach $1MM eventually.  But I'm just as happy if all 10 in aggregate enable our SWR!
I also track based an $$ per person.  We are not individual MMs ....yet.

Still...I'm fairly certain I'll never have a single account with $1MM in it.  Right, wrong, or indifferent, my assets are spread all over the place.