Anyone interested in a race from ~7xx,000 to 1 million?

[i_have_so_much_to_learn]

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]

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]

If someone wants to venmo me $423,000 I'm in ;)

[i_have_so_much_to_learn]

hah. I tried but venmo blocked me. Sorry ;)

[YoungGranny]

I'll join in! I'm at $708k at the beginning of March. $615k in 401k's and taxable accounts + $78k in equity in our house and rental property + $7k in HSAs and a $11k emergency fund.

We're currently maxing out 2 401ks (38k)
maxing out 2 HSAs ($7k)
aiming to save $100k per year in a taxable account for an increase of $145k per year.

So we should get to $1m in a little under 2 years with employer contributions to 401k's and any market gains. Leggo!

[i_have_so_much_to_learn]

I'll join in! I'm at $708k at the beginning of March. $615k in 401k's and taxable accounts + $78k in equity in our house and rental property + $7k in HSAs and a $11k emergency fund.

We're currently maxing out 2 401ks (38k)
maxing out 2 HSAs ($7k)
aiming to save $100k per year in a taxable account for an increase of $145k per year.

So we should get to $1m in a little under 2 years with employer contributions to 401k's and any market gains. Leggo!

Woot woot!

[fattest_foot]

Seems like we'd want a $500k-750k, and $750k-1M.

I guess the reason we don't is that the time period to go from $250k-500k is probably similar to $500k-1M, due to compounding. So those two races in $250k increments would be short.

[i_have_so_much_to_learn]

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).

Hi all, just wanted to share that I hit a net worth of 1 million today. I cannot believe it. Thanks for the support and friendship.

[terran]

Total: ~746k

... I hit a net worth of 1 million today...

lol ... I guess that's why the "Race to" threads double for each bracket instead of "only" going up by $250k for each race. 2019 was a crazy year for sure. 

[YoungGranny]

Great job @i_have_so_much_to_learn! Way faster than your original 3-4 year estimate! Was it mostly market growth or were you also able to save more than anticipated in 2019?


We're currently sitting at $933k. Hoping to hit it by this summer which is also ~8 months faster than my original estimate mostly due to market gains in 2019.

[clarkfan1979]

We're at 730K in January 2020.

I'm in.

[Herbert Derp]

I'm at $1.705MM as of January 1st. Like you, I've also got the about the same distance to go until the next milestone. Let's see how long it takes to get to the next million!

[i_have_so_much_to_learn]

Hi all, just wanted to share that I hit a net worth of 1 million today. I cannot believe it. Thanks for the support and friendship.

I don't understand what's going on. Net worth today is 1,080,000. This time last year, I was at ~746,000. This means a NW growth of over 300k in one year alone. The stock market is freaking me out!

[Herbert Derp]

I'm at $1.705MM as of January 1st. Like you, I've also got the about the same distance to go until the next milestone. Let's see how long it takes to get to the next million!

50 days, apparently. O_o

01/01/2020: $1,705,284.27
02/02/2020: $1,838,397.87
02/13/2020: $1,961,653.87
02/19/2020: $2,000,505.43

[i_have_so_much_to_learn]

I'm at $1.705MM as of January 1st. Like you, I've also got the about the same distance to go until the next milestone. Let's see how long it takes to get to the next million!

Fascinating... What are you invested in?

50 days, apparently. O_o

01/01/2020: $1,705,284.27
02/02/2020: $1,838,397.87
02/13/2020: $1,961,653.87
02/19/2020: $2,000,505.43

[Herbert Derp]

Fascinating... What are you invested in?

My largest position is in index funds. Aside from that, I have a sizable position in several individual stocks (one of which is my employer), a condo, and a tiny amount of cryptocurrency.

[i_have_so_much_to_learn]

Well, It's 14 months later and my NW is 1,800,000. I'm both confused, grateful, and nervous :).

Hi all, just wanted to share that I hit a net worth of 1 million today. I cannot believe it. Thanks for the support and friendship.

I don't understand what's going on. Net worth today is 1,080,000. This time last year, I was at ~746,000. This means a NW growth of over 300k in one year alone. The stock market is freaking me out!