Author Topic: Well damn, I'm a millionaire.  (Read 24186 times)

BicycleB

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Re: Well damn, I'm a millionaire.
« Reply #50 on: September 30, 2018, 09:44:06 AM »
Congrats, @skyrefuge!

Give us another update sometime.  Third million, first child, The Day of Leaving Work, whatev.   :)

Rosy

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Re: Well damn, I'm a millionaire.
« Reply #51 on: September 30, 2018, 11:52:18 AM »
Wow Congrats man! Hope you are getting a prenup. Getting married is a risky thing when you have all that money.

You started working as an engineer at age 21? Nice! I am also an engineer, late 20's, and just recently started working. I got a masters degree and I am glad I did it, but sometimes I look at some of my older friends, and they all have like over five years of experience under their belt already, and I'm like "man, I am running behind!"

Well - duh - you started five years later:)! SO WHAT? - It's your time now to make hay while the sun shines - enjoy the hell out of it!

... and take it from an old lady - do not discount what the right woman can bring into your life and do not underestimate that anyone, incl. a woman:) can change their lives and turn their finances around big time with a bit of encouragement - but never with a BF who operates under the assumption that a marriage is risky business for his finances.
A team with the same goal and mutual encouragement is the key to financial happiness - but unfortunately, that is only part of the equation of a happy marriage.

OP - CONGRATULATIONS! on the upcoming nuptials and the finances.

skyrefuge

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Re: Well damn, I'm a millionaire.
« Reply #52 on: November 21, 2018, 11:02:21 AM »
LOL. So in my original post that began this thread (when I reached $1M), I jokingly mentioned that my milestones can be used as market-timing cues, because back in 2007, when I had reached $500k, I stayed there for one whole day before the bubble burst and the market crashed down, and it took 5 years to return to $500k.

When I reached $1M and started this thread, no such dramatics happened, so timing the market off my milestones was just a joke after all.

But now when I rebirthed the thread to note our $2M milestone on 2018-09-20, we got about a week bouncing around on either side of $2M before the market again came crashing down!  Two months later it's about 10% down and our net worth is around $1.85M. You all should have sold! It's not a joke after all! I'm genuinely cursed!

But hey, at least it's cool to not be particularly bothered by "losing" $150k! (and now that we're married, I decided we should spend the last couple months of the year filling up my wife's unused 401(k)/HSA/Roth IRA space, so the market drop is nice for that!)

I guess if the every-other pattern holds, my next milestone ($2.5M?) should be a safe one, while $3M will be your next "SELL!!!! THE TOP IS IN!!!" signal. You have been warned.

(in reality, we may never hit $2M again, if we retire before then anyway)

skyrefuge

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Re: Well damn, I'm a millionaire.
« Reply #53 on: November 21, 2018, 11:29:09 AM »
Wow Congrats man! Hope you are getting a prenup. Getting married is a risky thing when you have all that money.

When our relationship first reached the "hey, we might get married some day", I was envisioning the possibility of a prenup. She even mentioned it once or twice, in a "if you're feeling apprehensive about marrying me due to money stuff, don't worry, I'll sign a pre-nup" way. But as time went by, and she never gave me a reason to not trust her, I realized that there was no need for me to risk starting a trust downward-spiral by giving her some paper that implicitly said "I don't trust our relationship".

Plus, MMM wrote a great post on trust! http://www.mrmoneymustache.com/2012/06/11/get-rich-with-trust/

You started working as an engineer at age 21?

Yep, was lucky enough to get my bachelor's 3 years due to my high school having a great AP program. Probably more insane to you is that my entire college education (at a top-5 CompE department) cost $13k. So yeah, switching from spending (very little) money to earning money earlier than most people definitely gave me a big kickstart (though I made "only" $47k my first year).

Until the last few years though, my investment timing wasn't so lucky; I lived through two major market crashes, the first of which I didn't really take advantage of due to house-buying timing. So really, you just live the life you have, and no matter what that path is, there will always be some people who seem "better off" and some (a lot more!) who seem worse.

thriftycanuck

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Re: Well damn, I'm a millionaire.
« Reply #54 on: November 23, 2018, 07:03:38 PM »
Congrats on the milestones.

Are you able to share your asset allocation?  Current/past?  Earlier you mention index funds - stocks/bonds.  Curious how you broke it down to bring you to where you are.

Cheers,
Thrifty