Author Topic: Anyone interested in a race from ~7xx,000 to 1 million?  (Read 213 times)

i_have_so_much_to_learn

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Anyone interested in a race from ~7xx,000 to 1 million?
« on: February 06, 2019, 05:49:57 PM »
We can count any investable asset (to make it simple, we don't have to subtract tax liabilities) or cash, 401k, etc.

i_have_so_much_to_learn

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Re: Anyone interested in a race from ~7xx,000 to 1 million?
« Reply #1 on: February 06, 2019, 06:00:51 PM »
Sorry if i missed the thread on this :). If i did, lmk and i'll delete this post.

I'm at:
post-tax Investments:~514k
401k: ~183k
hsa investments: ~5.5k
Cash (including non-invested HSA): ~43k

Total: ~746k

pretax income: ~200k (150k in biweekly checks, ~50k in equity split into 4 annual vestings)
rent: $4200
utilities: $300
other expenses: ~2k per month

Current strategy:
- frontloaded my pre-tax 401k, doing $175 twice a month for after-tax -> roth rollover
~3k per month in cash
~$400 per month added to my index accounts
- pretty risky (only because 90% of my investments are in 7 bluechip stocks) (90.3%), along with a small percentage (9.7%) being indexed via wealthfront.
- 401k is in vanguard retirement 2055 account.
- I haven't yet sold my annual equity vests

With these savings, I should be theoretically able to get there in ~3-4 years, but planning for steady investment growth that investments pay off (even with small 3-5% increases) instead of going bust ;).

Hope is that I can save ~70k per year plus 3-5% per year in stock growth, which would be ~35k a year from current valuations (though the market is quite volatile right now).

katscratch

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Re: Anyone interested in a race from ~7xx,000 to 1 million?
« Reply #2 on: February 06, 2019, 06:01:29 PM »
If someone wants to venmo me $423,000 I'm in ;)

i_have_so_much_to_learn

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Re: Anyone interested in a race from ~7xx,000 to 1 million?
« Reply #3 on: February 06, 2019, 07:14:13 PM »
hah. I tried but venmo blocked me. Sorry ;)