Author Topic: 1MM networth by the end of 2018  (Read 19088 times)

Bateaux

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Re: 1MM networth by the end of 2018
« Reply #100 on: November 28, 2018, 12:08:40 AM »
Optimists say the current economic downturn is temporary.  I've been told that when you invest your savings in a time when the market is down that you are getting "more bang for the buck."  If this is true, if you were at or close to a million before this recent downturn, with additional contributions at this time into VTSAX or similar index fund, you should overshoot it when the economy begins it's rebound.

https://www.fool.com/investing/2018/04/11/how-long-do-stock-market-corrections-last.aspx

It kind of puts a positive spin on the situation.
That's what I keep telling myself. I hit $1M in NW last year, but have been part of this challenge to hit it in investments only. A number of events have slowed that process and I'm backsliding. I keep telling myself it's ok because I'm buying on sale. It's just hard to watch it. I know that's irrational because it's not lost unless I have to sell, but it's still hard to watch.
It helps to watch the number of shares you own. They go up even faster when the stock market's "on sale".

True Dat.  I got pissed when the backsliding started.  Now I'm enjoying going to work a hell of a lot more knowing I'm buying at a discount.

sisto

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Re: 1MM networth by the end of 2018
« Reply #101 on: November 28, 2018, 11:50:47 AM »
Optimists say the current economic downturn is temporary.  I've been told that when you invest your savings in a time when the market is down that you are getting "more bang for the buck."  If this is true, if you were at or close to a million before this recent downturn, with additional contributions at this time into VTSAX or similar index fund, you should overshoot it when the economy begins it's rebound.

https://www.fool.com/investing/2018/04/11/how-long-do-stock-market-corrections-last.aspx

It kind of puts a positive spin on the situation.
That's what I keep telling myself. I hit $1M in NW last year, but have been part of this challenge to hit it in investments only. A number of events have slowed that process and I'm backsliding. I keep telling myself it's ok because I'm buying on sale. It's just hard to watch it. I know that's irrational because it's not lost unless I have to sell, but it's still hard to watch.
It helps to watch the number of shares you own. They go up even faster when the stock market's "on sale".
@Dicey Yes, that's a great idea. I try to do that, but I have so many accounts it gets tedious. I just know it will be fine, but it's still hard to watch. I've sat through it in other downturns, just was much better back then about not checking it all the time. Ever since I got MMM and got a serious plan together I watch too much. It doesn't hurt that I'm 2.5 years away from FIRE.

jgoody

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Re: 1MM networth by the end of 2018
« Reply #102 on: December 11, 2018, 11:02:45 PM »
12/2017:   785K
3/2018:    822K
6/2018:    847K
9/2018:    887K
12/2018:   823K

Bwah bwah... this may be my first negative quarter.  Oddly, I feel better about things now - like some balance has returned to the fiscal universe.  It seemed like the stock market had been on too long of a tear without any back-sliding and it was making me nervous.  Let's see how long the back-sliding lasts and just how good the stock "sales" get.

pecunia

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Re: 1MM networth by the end of 2018
« Reply #103 on: December 12, 2018, 08:03:28 AM »
12/2017:   785K
3/2018:    822K
6/2018:    847K
9/2018:    887K
12/2018:   823K

Bwah bwah... this may be my first negative quarter.  Oddly, I feel better about things now - like some balance has returned to the fiscal universe.  It seemed like the stock market had been on too long of a tear without any back-sliding and it was making me nervous.  Let's see how long the back-sliding lasts and just how good the stock "sales" get.

With very little frugality, you can live for 10 years from that money (eating the principal).  With moderate frugality utilizing the 4 percent rule, you'd have $32,920 / year and live for maybe 35 years or more on what you have now.

Despite the loss in the market, perhaps overall you still have a gain.


Ricksun

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Re: 1MM networth by the end of 2018
« Reply #104 on: January 01, 2019, 07:50:34 AM »


$933k ($700k Investments/Cash) here for DW and I.  With a really good last quarter in the market, there's a chance, but likely early/mid 2019 for us.

Wow - this thread lost a lot of momentum in the last quarter!  I guess predictably so! Ended year with $897k, so its mid 2019 for us, unless the market crashes some more!  Here's to on-sale buying to start the new year!  (if only they pass a budget so DW and I can get paid)

Ricksun


ToughMother

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Re: 1MM networth by the end of 2018
« Reply #105 on: January 01, 2019, 05:54:21 PM »
Well, I almost tasted the sweet success of $1M.  At some point in Oct, I was at $998K!  And then it was a march downward -- went below $900K at one point.  So here's the stats for the year, and hoping for $1M success in 2019.

1/1/2018   $860.9K
2/1/2018   $879.5K
3/1/2018   $868.2K
4/1/2018   $881.2K
5/1/2018   $917.4K
6/1/2018   $937.9K
7/1/2018   $943.7K
8/1/2018   $968.8K
9/1/2018   $988.4K
10/1/2018 $990.1K
11/1/2018 $955.6K
12/1/2018 $972.0K
1/1/2019   $926.0K

Dicey

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Re: 1MM networth by the end of 2018
« Reply #106 on: January 01, 2019, 10:45:24 PM »


$933k ($700k Investments/Cash) here for DW and I.  With a really good last quarter in the market, there's a chance, but likely early/mid 2019 for us.

Wow - this thread lost a lot of momentum in the last quarter!  I guess predictably so! Ended year with $897k, so its mid 2019 for us, unless the market crashes some more!  Here's to on-sale buying to start the new year!  (if only they pass a budget so DW and I can get paid)

Ricksun
Understandable, since its author, boarder42, was banned in Q4. I've been thinking about him and hoping he hit his audacious goal.

Chrissy

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Re: 1MM networth by the end of 2018
« Reply #107 on: January 02, 2019, 08:13:48 AM »
We crapped out at $900k.  Still a $40k gain from last year.  Maybe we'll hit $1M in 2019.

sisto

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Re: 1MM networth by the end of 2018
« Reply #108 on: January 02, 2019, 12:16:00 PM »
I was shooting for this goal just with invested assets since I had already hit it in NW. I fell short for a few reasons. The market was definitely not on my side and only working half time due to my accident caused the savings to slip too. I actually closed out the year over $100K shorter than the peak from an investment perspective. I'm buying on sale though, so at some point I'll make this goal.

Carrie

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Re: 1MM networth by the end of 2018
« Reply #109 on: February 28, 2019, 02:37:18 PM »
We hit it January 2019, along with a layoff. It's all good, new job started and heading for the next NW goal.

PNW Lady

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Re: 1MM networth by the end of 2018
« Reply #110 on: March 16, 2019, 02:53:07 PM »
I haven't been paying much attention to our investments this year, which has been a nice break. After we hit $1M NW last year the market dropped and we went below $950K at some point. It's crazy that we are sitting at $1.07 today and not even done with Q1. I 'm hoping we'll be able to maintain a 50% savings rate this year.

ToughMother

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Re: 1MM networth by the end of 2018
« Reply #111 on: March 16, 2019, 03:52:53 PM »
We hit it in Feb and have holding on to it since then by a mere few hundred bucks st one point. I expect we’ll bounce around the mark for a while. Congrats to all the new millionaires!

 

Wow, a phone plan for fifteen bucks!