Author Topic: Race from $1M to $2M  (Read 39275 times)

Cobaka

  • 5 O'Clock Shadow
  • *
  • Posts: 7
Re: Race from $1M to $2M
« Reply #150 on: April 19, 2017, 01:37:17 PM »
I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

It is. once you get in this group I would(and am) start building passive assets that can support you until it meets expenses, then you can let your money grow on it's own and work if you want to. Mine projects out to over 10mil now doing that just not adding another dime by the time I would normally retire and I do not really want to retire early, I like my job and career; but I do want to get to where I no longer need an income and can just live off my assets in case something happens where I can no longer work in my 40s or above.

PseudoStache

  • 5 O'Clock Shadow
  • *
  • Posts: 90
Re: Race from $1M to $2M
« Reply #151 on: April 19, 2017, 02:19:56 PM »
I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

It is. once you get in this group I would(and am) start building passive assets that can support you until it meets expenses, then you can let your money grow on it's own and work if you want to. Mine projects out to over 10mil now doing that just not adding another dime by the time I would normally retire and I do not really want to retire early, I like my job and career; but I do want to get to where I no longer need an income and can just live off my assets in case something happens where I can no longer work in my 40s or above.

Joining.

Mint puts me at $1.625MM today including my primary residence... If I remove that equity I'm at about $1.4MM invested.  I should be able to get to 2MM invested in about 4-5 years if the market plays nice.

However, my mortgage still has about 12 years left.. and I work from home so my job is not high-stress... so I will probably keep chugging along for a bit past 2MM - Would actually like to see the PseudoStache turn into 3MM invested before I call it quits... but if life gets in the way... or I start hating or lose my job, I'll FIRE with a little a little real estate investing on the side.


Jenny1974

  • 5 O'Clock Shadow
  • *
  • Posts: 78
Re: Race from $1M to $2M
« Reply #152 on: April 19, 2017, 03:58:47 PM »
We're at about $1.56M including home equity of about $170K.  Currently adding at least $100 - $200K to that balance annually.  Hope to hit the $2M mark within the next couple years.  Goal is about $2.5M with a paid off house. 

mr_orange

  • Handlebar Stache
  • *****
  • Posts: 1238
  • Age: 38
  • Location: Round Rock, TX
Re: Race from $1M to $2M
« Reply #153 on: April 19, 2017, 08:36:02 PM »
We're at about $1.56M including home equity of about $170K.  Currently adding at least $100 - $200K to that balance annually.  Hope to hit the $2M mark within the next couple years.  Goal is about $2.5M with a paid off house.

We have roughly the same goals.  We've been able to do a bit better adding about $250k/year recently, but I can see this decreasing some in future years. 
« Last Edit: April 19, 2017, 09:26:55 PM by mr_orange »
12/30/16                                       06/30/17
Fire Totals:                                   Fire Projections:
-$7k/month - 68.1% Funded             86.1% Funded
-$8k/month - 59.6% Funded             75.4% Funded
-$9k/month - 53.0% Funded             67.0% Funded
-$10k/month - 47.7% Funded           60.3% Funded

-Calculus gives speculation the deceptive guise of investment ~Benjamin Graham
-The future ain’t what it used to be ~Yogi Berra

Itchyfeet

  • Bristles
  • ***
  • Posts: 363
Re: Race from $1M to $2M
« Reply #154 on: April 19, 2017, 08:54:04 PM »
We're at about $1.56M including home equity of about $170K.  Currently adding at least $100 - $200K to that balance annually.  Hope to hit the $2M mark within the next couple years.  Goal is about $2.5M with a paid off house.

We have roughly the same goals.  We've been about to do a bit better adding about $250k/year recently, but I can see this decreasing some in future years.

Yeah, we're a aiming a little lower, but in the ball park. We're Looking for  about $1.7M USD (we're Australian) plus a paid off house. We will buy the house post-fire, and are setting a budget of $500K USD for that. We are just about to pass the $2M USD mark (we passed $2.5M AUD past month)  so now just $300K USD or thereabouts to go. Less than 2 years and we'll be done if markets behave.

PseudoStache

  • 5 O'Clock Shadow
  • *
  • Posts: 90
Re: Race from $1M to $2M
« Reply #155 on: April 19, 2017, 11:53:42 PM »
so now just $300K USD or thereabouts to go. Less than 2 years and we'll be done if markets behave.

Isn't it absurd that what you just said sounds so normal... like it ain't no thang.

It's like, "Doesn't everyone grow their net worth by $300k in two years?"

KBecks

  • Pencil Stache
  • ****
  • Posts: 930
Re: Race from $1M to $2M
« Reply #156 on: April 20, 2017, 05:19:05 AM »
I am struggling with the passive assets thing.  Of course we're new into this group and our I'm including our home in our NW, so we are around $850 invested and $150k home equity, roughly.  It is nice to see how your 'staches are growing!   A few years ago I was interested in real estate and started to learn about that but it's probably not our calling.  What are your categories of passive income and how are you making them work for you? 

mr_orange

  • Handlebar Stache
  • *****
  • Posts: 1238
  • Age: 38
  • Location: Round Rock, TX
Re: Race from $1M to $2M
« Reply #157 on: April 20, 2017, 08:14:09 AM »
so now just $300K USD or thereabouts to go. Less than 2 years and we'll be done if markets behave.

Isn't it absurd that what you just said sounds so normal... like it ain't no thang.

It's like, "Doesn't everyone grow their net worth by $300k in two years?"

Yeah....people on this forum are definitely leading a charmed existence. 
12/30/16                                       06/30/17
Fire Totals:                                   Fire Projections:
-$7k/month - 68.1% Funded             86.1% Funded
-$8k/month - 59.6% Funded             75.4% Funded
-$9k/month - 53.0% Funded             67.0% Funded
-$10k/month - 47.7% Funded           60.3% Funded

-Calculus gives speculation the deceptive guise of investment ~Benjamin Graham
-The future ain’t what it used to be ~Yogi Berra

CanuckExpat

  • Magnum Stache
  • ******
  • Posts: 2522
  • Age: 34
  • Location: Travelling
    • Freedom35
Re: Race from $1M to $2M
« Reply #158 on: April 20, 2017, 08:43:00 AM »
so now just $300K USD or thereabouts to go. Less than 2 years and we'll be done if markets behave.

Isn't it absurd that what you just said sounds so normal... like it ain't no thang.

It's like, "Doesn't everyone grow their net worth by $300k in two years?"

Yeah....people on this forum are definitely leading a charmed existence.

My guess would be "most people" don't know what Net Worth is in general, let alone know how or care to measure their own.

What doesn't get measured can't be managed :)
Retired, or just homeless and jobless.
Blog
Journal

Bateaux

  • Pencil Stache
  • ****
  • Posts: 811
  • Location: Port Vincent
Re: Race from $1M to $2M
« Reply #159 on: April 20, 2017, 02:23:09 PM »
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
 ― Antoine de Saint Exupery-

Class of 2019

mr_orange

  • Handlebar Stache
  • *****
  • Posts: 1238
  • Age: 38
  • Location: Round Rock, TX
Re: Race from $1M to $2M
« Reply #160 on: April 20, 2017, 09:10:23 PM »
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?

I hope so.  I'm probably 1-2 years behind you.
12/30/16                                       06/30/17
Fire Totals:                                   Fire Projections:
-$7k/month - 68.1% Funded             86.1% Funded
-$8k/month - 59.6% Funded             75.4% Funded
-$9k/month - 53.0% Funded             67.0% Funded
-$10k/month - 47.7% Funded           60.3% Funded

-Calculus gives speculation the deceptive guise of investment ~Benjamin Graham
-The future ain’t what it used to be ~Yogi Berra

Car Jack

  • Bristles
  • ***
  • Posts: 447
Re: Race from $1M to $2M
« Reply #161 on: April 21, 2017, 06:26:09 AM »
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?

<reaches hand out> Come on, you're almost there......

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/

Bateaux

  • Pencil Stache
  • ****
  • Posts: 811
  • Location: Port Vincent
Re: Race from $1M to $2M
« Reply #162 on: April 21, 2017, 07:24:57 AM »
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?

<reaches hand out> Come on, you're almost there......

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/

Thanks for the warm welcome Carjack.  NW rising quickly now.  Be there with ya soon.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
 ― Antoine de Saint Exupery-

Class of 2019

Jenny1974

  • 5 O'Clock Shadow
  • *
  • Posts: 78
Re: Race from $1M to $2M
« Reply #163 on: April 21, 2017, 08:02:04 AM »
It's astounding how quickly the stache starts to grow once you hit a certain point.  I hadn't really looked how much our stache had grown year over year until responding to this post.  It jumped close to $250K over the last year .  . of course the market helped a lot .  .  but still . . . I remember when my goal in total was $250K and now I'm growing that much a year!

Ottoford

  • 5 O'Clock Shadow
  • *
  • Posts: 28
Re: Race from $1M to $2M
« Reply #164 on: April 21, 2017, 08:51:38 AM »
Close to $1.3M invested, about half of that in IRA's that we are 15 years away from being able to touch.  We already downsized and escaped the expensive NY metro area so we are mortgage free with low property/school taxes with views of farmland and smells of cows.  I don't tend to count home value in NW.

My SO pulled the plug on the day job and is now running a part-time at home business.  I also work from home and get paid well to do it.  Since we are still tied to home with our cats, we have a few years before we can hit the open road for extended trips.  So I figure I may as well work.

I was ready to stop working when we hit the $1M, but having more doesn't seem like a bad thing.  I'm not sure the $2M will be the endgame.  I'd like to opt out before then.  Although it would be a nice cushion.  See why I'm still working, I'm indecisive.  I'll never pursue more workload for my current day job, but if existing clients want to keep paying me, I'm going to ride it out for a bit.

Another interesting opportunity that I want to look into is my neighbor with the very poorly maintained house and yard says he's moving out.  I think they are just looking to cover what they owe.  If I could get it for what they owe, I think it could be solid investment.  Plus I can clean up the yard.


albireo13

  • Bristles
  • ***
  • Posts: 289
  • Location: New England
Re: Race from $1M to $2M
« Reply #165 on: April 22, 2017, 04:39:06 AM »
Currently at:
$1.44M  -   tax-advantaged accounts + a lump sum pension available to pull when I retire

we also have 3 other pension accounts which will provide annuity income ...  probably about  $54K/yr

I would love to get to $2M but ... I plan to retire in 2019 either way.






Bateaux

  • Pencil Stache
  • ****
  • Posts: 811
  • Location: Port Vincent
Re: Race from $1M to $2M
« Reply #166 on: April 22, 2017, 06:47:08 AM »
Love hearing all the responses.   I think that 2M invested is actually a real life changing point.  Crossing 1M broke the chains of depending upon any job if you so choose. You can take gap years, take lesser paying jobs you'll love, move to where you want to live or choose to live frugal and happy never working again.   2M gives you what I call projection power.  Working further is truly a personal choice.  You can be ultraconservative with withdrawal rate and still live a luxurious life.  You've likely guaranteed legacy funds for the heir or charity of choice.  Your stash will likely rise perpetually. The happiness level of  $75,000 annually is within 4% withdrawal rate.  Inflation will move this point in time to 3, 4 or 5 million for sure.  For the present  I think 2M is the sweet spot. It's not too hard to reach on an average salary if dedicated early in life. 
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
 ― Antoine de Saint Exupery-

Class of 2019

Cornbread OMalley

  • Handlebar Stache
  • *****
  • Posts: 1763
  • Location: Kansas
Re: Race from $1M to $2M
« Reply #167 on: April 26, 2017, 03:33:40 AM »
Crested $1.2 million today.  Next stop is $1.3.

Car Jack

  • Bristles
  • ***
  • Posts: 447
Re: Race from $1M to $2M
« Reply #168 on: April 26, 2017, 07:41:37 AM »
Crested $1.2 million today.  Next stop is $1.3.

You sound like me.  :D  that "7" spot takes a loooooong time to move but the "6" spot can click in with some good market days in a row (like this week).  I might splurge on a stash comb this week.

PathtoFIRE

  • Bristles
  • ***
  • Posts: 323
  • Age: 38
  • Location: Dallas
Re: Race from $1M to $2M
« Reply #169 on: April 26, 2017, 09:34:21 AM »
Didn't see this thread until today, our FIRE Networth crossed $1M in February 2017. This ignores the house, the mortgage, and the college funds; so just counts the bank accounts, pre- and post-tax retirement accounts, and the vested portion of my deferred compensation account. Assuming our jobs hold and barring unforeseeable disaster, we plan on directly adding about $150k/yr to the FIRE Net Worth, so assuming 7% yearly nominal market growth, we should cross the $2M threshold in about 4 years, although I like to think we are being a bit conservative, both in expected returns as well as being in a position to add more than $150k in the future. Pretty good number in line with some of you all, but it still depresses me a little because 1) I won't cross $2M before I need to re-certify for my boards [although good sense tells me I should do that anyway to have something to fall back on if I need to go back to earning $], 2) my youngest will still be almost half way to adulthood, and 3) $2m is not our final number. So to be honest I'm banking a little on being pleasantly surprised.

ysette9

  • Handlebar Stache
  • *****
  • Posts: 1803
  • Location: Bay Area, CA
Re: Race from $1M to $2M
« Reply #170 on: April 26, 2017, 10:46:05 AM »
Update on our situation: We are in contract to buy a house! We are both very excited about that and looking forward to moving in. The bummer side of it was that I had to move a bunch of $ out of Vanguard for the down payment, so our invested assets are only around $1.3+ now. It is a little sad to see that number drop, though it is for a good cause. I won't be included house equity in our numbers since our plan is to stay long-term. 
"It'll be great!"

Cornbread OMalley

  • Handlebar Stache
  • *****
  • Posts: 1763
  • Location: Kansas
Re: Race from $1M to $2M
« Reply #171 on: April 26, 2017, 08:12:34 PM »
Crested $1.2 million today.  Next stop is $1.3.

You sound like me.  :D  that "7" spot takes a loooooong time to move but the "6" spot can click in with some good market days in a row (like this week).  I might splurge on a stash comb this week.
Yessir!  Love the effects of compounding!

brooklynmoney

  • Bristles
  • ***
  • Posts: 330
  • Location: Crooklyn
Re: Race from $1M to $2M
« Reply #172 on: April 26, 2017, 08:36:38 PM »
Crested $1.2 million today.  Next stop is $1.3.

Congrats Cornbread. I am 100k behind you. Maybe I will rob a bank this weekend. If I do I will make sure to take at least 101k haha

Cornbread OMalley

  • Handlebar Stache
  • *****
  • Posts: 1763
  • Location: Kansas
Re: Race from $1M to $2M
« Reply #173 on: April 27, 2017, 01:48:21 PM »
Congrats Cornbread. I am 100k behind you. Maybe I will rob a bank this weekend. If I do I will make sure to take at least 101k haha
lol!  Well, I plan to contribute money for the next two years until I FIRE.  Then all contributions will stop.

CanuckExpat

  • Magnum Stache
  • ******
  • Posts: 2522
  • Age: 34
  • Location: Travelling
    • Freedom35
Re: Race from $1M to $2M
« Reply #174 on: May 01, 2017, 08:27:37 AM »
$1.235M for 3/31/2017 at the end of the quarter. Not bad for not working. I keep saying it can't last much longer!

Well done. Gotta be great to see the stash still growing after having given the finger to the rat race.
23+% return in 10 months ?   Imagine if it was indicative though... ha ha...

And we are relatively conservative compared to some people here (about 80% equities, 20% bonds/cash/fixed income). Our equities are evenly split US and international, the latter has been quite under performing. I can only imagine what's been happening to someone's portfolio who is 100% US stocks!

I don't intend on changing anything, stay the course and not chase returns. I also mentally imagine a 20% drop so hopefully I will be ok with the shock when that happens!

Another month of not working, and more large increases. I won't bore with the numbers, but it is getting to the point where I worry a bit about this long sustained period of outsized returns. I don't know what else to do except stay the course.

I'm worried, in theory, but don't have a better alternative! Guess the best thing to do is forget about it and stay the course.
Retired, or just homeless and jobless.
Blog
Journal

farmecologist

  • Stubble
  • **
  • Posts: 249
Re: Race from $1M to $2M
« Reply #175 on: May 01, 2017, 08:38:41 AM »
$1.235M for 3/31/2017 at the end of the quarter. Not bad for not working. I keep saying it can't last much longer!

Well done. Gotta be great to see the stash still growing after having given the finger to the rat race.
23+% return in 10 months ?   Imagine if it was indicative though... ha ha...

And we are relatively conservative compared to some people here (about 80% equities, 20% bonds/cash/fixed income). Our equities are evenly split US and international, the latter has been quite under performing. I can only imagine what's been happening to someone's portfolio who is 100% US stocks!

I don't intend on changing anything, stay the course and not chase returns. I also mentally imagine a 20% drop so hopefully I will be ok with the shock when that happens!

Another month of not working, and more large increases. I won't bore with the numbers, but it is getting to the point where I worry a bit about this long sustained period of outsized returns. I don't know what else to do except stay the course.

I'm worried, in theory, but don't have a better alternative! Guess the best thing to do is forget about it and stay the course.

Yep..just stay the course.  Just don't freak out when the inevitable downturn happens!

 

Itchyfeet

  • Bristles
  • ***
  • Posts: 363
Re: Race from $1M to $2M
« Reply #176 on: May 01, 2017, 08:39:28 AM »
I am still working, but when I look at the gains that have been rolling in, I start to wander why I am bothering.

Then I remember 20% annualized gains are not the norm, nor sustainable. Back to head down bum up for a little longer.

Nangirl17

  • Stubble
  • **
  • Posts: 131
Re: Race from $1M to $2M
« Reply #177 on: May 04, 2017, 11:40:25 AM »
I'm in! Sort of....
As of this month, our invested assets plus cash on hand = >1MM! BUT, that's Canadian dollars... however, if you include our paid off house, then it is back to the 1MM USD mark! =) If all agree, I'd love to join! 

Last year I went to part time work, joining my husband in his "semi-retirement", so the progression to 2MM will be much slower than some - I'm thinking around 10 years, at which point I suspect my husband will retire. I'm not sure what I'll do - for the most part I love my job, so we'll see how worn out I am in another 10 years! =)

I'm in the process of investing my tax return in ETFs and once I'm comfortable using the Questrade platform and figure out how to rebalance etc, I'll be switching over my investments from a financial planner (with an MER of >2.25%!) to ETFs with MERs between 0.18 and 0.35 - I'm following the Canadian Couch Potato portfolio recommendations. 


Itchyfeet

  • Bristles
  • ***
  • Posts: 363
Re: Race from $1M to $2M
« Reply #178 on: May 04, 2017, 12:16:36 PM »
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?

Nah, I hope not.... well not actively anyways. If I get lucky and I spend less than my passive income post Fire, then maybe I will get there in real dollars. I should get there in nominal $ or I will run into problems 20 years or more from now.

Cornbread OMalley

  • Handlebar Stache
  • *****
  • Posts: 1763
  • Location: Kansas
Re: Race from $1M to $2M
« Reply #179 on: May 04, 2017, 06:49:28 PM »
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?
I'll definitely keep tabs on my numbers in the future but with the focus on estate planning.

Cornbread OMalley

  • Handlebar Stache
  • *****
  • Posts: 1763
  • Location: Kansas
Re: Race from $1M to $2M
« Reply #180 on: May 06, 2017, 10:03:56 PM »
I'm in! Sort of....
As of this month, our invested assets plus cash on hand = >1MM! BUT, that's Canadian dollars... however, if you include our paid off house, then it is back to the 1MM USD mark! =) If all agree, I'd love to join! 
Methinks you fit this thread just fine.

farmecologist

  • Stubble
  • **
  • Posts: 249
Re: Race from $1M to $2M
« Reply #181 on: May 08, 2017, 07:19:23 AM »
I'm in! Sort of....
As of this month, our invested assets plus cash on hand = >1MM! BUT, that's Canadian dollars... however, if you include our paid off house, then it is back to the 1MM USD mark! =) If all agree, I'd love to join! 
Methinks you fit this thread just fine.


Our house is paid off and that's what I'm doing...why?  Because I want to.  ;-).  There are no 'net worth police' here..for the most part.


mr_orange

  • Handlebar Stache
  • *****
  • Posts: 1238
  • Age: 38
  • Location: Round Rock, TX
Re: Race from $1M to $2M
« Reply #182 on: May 08, 2017, 02:09:51 PM »
There are no 'net worth police' here..for the most part.

Good stuff ;-)
12/30/16                                       06/30/17
Fire Totals:                                   Fire Projections:
-$7k/month - 68.1% Funded             86.1% Funded
-$8k/month - 59.6% Funded             75.4% Funded
-$9k/month - 53.0% Funded             67.0% Funded
-$10k/month - 47.7% Funded           60.3% Funded

-Calculus gives speculation the deceptive guise of investment ~Benjamin Graham
-The future ain’t what it used to be ~Yogi Berra

Mama Bear

  • 5 O'Clock Shadow
  • *
  • Posts: 3
  • Age: 48
  • Location: Seattle
Re: Race from $1M to $2M
« Reply #183 on: May 11, 2017, 03:56:33 AM »
Hello!   I'm happy to join this forum.  We reached $1M in Nov 2016 (all investable assets in tax deferred accounts, no home equity included).   It feels good to have finally reached this point.  We've been married 15 years and I think we had a total of about $100K when we met.  They say the first million is the hardest!   We're up to $1.09M as of March 2017.   I'm secretly hoping for a market correction so we can pour some money into the market at a lower cost basis.   

Back in 2007-2008 we had a newborn baby and I was a stay at home mom... so we couldn't ramp up our savings to take advantage of the stock sale.  We stayed the course and kept maximizing my husband's 401k and it's turned out pretty well.  Now if we had a correction, we would make the most of it.  Of course it would hurt to drop below $1M, but we're used to the ups and downs.   

Our general plan is to have my husband quit work after we get to $2M.   I'll work 2-3 more years after that... until our son goes to college.  We want to rent out our house and hike the Appalachian Trail.   

Cornbread OMalley

  • Handlebar Stache
  • *****
  • Posts: 1763
  • Location: Kansas
Re: Race from $1M to $2M
« Reply #184 on: May 11, 2017, 08:04:05 AM »
I'm secretly hoping for a market correction so we can pour some money into the market at a lower cost basis.   
I think along the same lines having been able to take advantage of the tech bubble burst and the Great Recession by simply staying the course.  Getting more shares at a lower cost basis from a market correction would be another great boost for me.  I have the wherewithal to ride out another downturn.

Bird In Hand

  • Stubble
  • **
  • Posts: 139
Re: Race from $1M to $2M
« Reply #185 on: May 17, 2017, 07:05:25 PM »
I'm a little late to this party.  We crossed $1M in invested assets last May, and now it's $1.16.  If I include home equity, it's $1.45M, but I think that's based on a rather optimistic Zillow estimate.  Closer to $1.4M is probably about right.

Net worth (cash + taxable brokerage + retirement investments + home equity) has gone up by $122k this year.  Granted, it probably went down by $10k+ with the market falling today.  But I can't be worried about that -- life goes on!

We have no specific goal/timeline for reaching $2M.  We could retire now at 40-ish with ~$41k/year (96% FIRECalc success rate) if we cut our budget to the bone, but it wouldn't be pleasant, and healthcare would be a big question mark.  We could retire in ~3 years after the mortgage is paid off with a $55k/year.  But we like our jobs and I'll probably continue working part time indefinitely after the mortgage is gone to delay drawing down our accounts.
"Overcoming the inertia of status quo since tomorrow"

Goldy

  • Stubble
  • **
  • Posts: 102
Re: Race from $1M to $2M
« Reply #186 on: May 27, 2017, 06:53:49 AM »
Just passed the 1.4 mark (1.28 invested) and logged a 12 month gain of $308k.  If we can keep that annual gain going we might be done sooner than I thought. 

marty998

  • Magnum Stache
  • ******
  • Posts: 4899
  • Location: Sydney, Oz
Re: Race from $1M to $2M
« Reply #187 on: May 27, 2017, 07:00:17 AM »
Note quite here yet...

I appear to be stuck at about $950k - have not really moved for about 6 weeks now, which will delay my entry into this race from September maybe out to December or even 2018.

A little disappointing, but in a market that has come off 3% from the top it's nice to still be steady.

Itchyfeet

  • Bristles
  • ***
  • Posts: 363
Re: Race from $1M to $2M
« Reply #188 on: May 27, 2017, 12:01:12 PM »
Note quite here yet...

I appear to be stuck at about $950k - have not really moved for about 6 weeks now, which will delay my entry into this race from September maybe out to December or even 2018.

A little disappointing, but in a market that has come off 3% from the top it's nice to still be steady.

Yeah, Aussie stocks and Sydney property have slowed us down too, but thankfully the FTSE has been strong amd I have a bit invested in the UK ATM.

I will be interested to see how my NW looks for 31 May. It does seem that auction results in Sydney were quite good this week, so we shall see.

We are very close to $2M USD, but just can't quite get across the line yet.

chasesfish

  • Handlebar Stache
  • *****
  • Posts: 1736
  • Location: Texas
    • Years in the making, I created a journal!
Re: Race from $1M to $2M
« Reply #189 on: May 27, 2017, 12:10:47 PM »
I'll join in on this one..

$1mil on August of 2015...

Who knows if I'll hit $2mil, may retire before that.  Eclipsed $1.35mil this past week

Numbers include home equity
Counting down the days until I Stop Ironing Shirts

I occasionally Blog

RetirementDreaming

  • Stubble
  • **
  • Posts: 100
Re: Race from $1M to $2M
« Reply #190 on: June 01, 2017, 06:10:49 PM »
$1.2M as of end of May.  Hit 1M on 11/15/16 so it's been a good 6 months. 

Cornbread OMalley

  • Handlebar Stache
  • *****
  • Posts: 1763
  • Location: Kansas
Re: Race from $1M to $2M
« Reply #191 on: June 01, 2017, 06:54:14 PM »
$1.2M as of end of May.  Hit 1M on 11/15/16 so it's been a good 6 months.
Now that is the HEAT!

Itchyfeet

  • Bristles
  • ***
  • Posts: 363
Re: Race from $1M to $2M
« Reply #192 on: June 01, 2017, 09:43:05 PM »
$1.2M as of end of May.  Hit 1M on 11/15/16 so it's been a good 6 months.
Now that is the HEAT!

Arrgghh, meanwhile we have stalled and went backwards last month by 20K.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 26993
  • Age: -999
  • Location: Traveling the World
Re: Race from $1M to $2M
« Reply #193 on: June 16, 2017, 09:14:56 PM »
I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

Sure, it's a great goal.

But why would you need to get there while working?  ;)

I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

It is. once you get in this group I would(and am) start building passive assets that can support you until it meets expenses, then you can let your money grow on it's own and work if you want to.

+1

As MMM said, First retire, then get rich (see first link in that thread).

My plan is to have my net worth grow and grow in ER (see the quote in that thread re: "asset runaway").  So far, after two years of ER, NW is up 16%.

Sure, if I had kept working, maybe it'd be up 30% instead, but...who cares?

I have enough.  Would I sell those two years of my life for a little more money?

Hell no. I have enough. Why on earth would I need any more? :)

The last two years have probably been the best of my life. Even though I was in a job I loved doing, I very much am enjoying doing other things now, too. I wouldn't sell that time for mere money.
« Last Edit: June 16, 2017, 09:27:11 PM by arebelspy »
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

WildJager

  • Bristles
  • ***
  • Posts: 428
  • Age: 31
    • Can't complain.
Re: Race from $1M to $2M
« Reply #194 on: June 26, 2017, 05:24:06 PM »
I'm down to play.  Our current NW is already well above what we need.  Our current yearly spending is around $25k (budgeted $30k).  $1m was my goal for a 3% WR.  Due to contractual obligations, we've got another 4 years working.  Because of the healthcare flux, I'm not too upset to be forced into forced work, but on a day to day basis the grind can be exhausting.  We both have low paying work that we'd like to do part time, so being forced to do a job we're not thrilled of can be a burden.  Can't complain too much though, the pay is more than we deserve. 

Currently sitting at $1.25m.  Expect to be over $2m by the time we can punch.  We should be able to let the nest egg grow and sit very comfortably for the rest of our lives.  Future plans include slow travel, fun work we enjoy, and eventually homesteading once we're ready to settle down.  Life's good.

DavidAnnArbor

  • Handlebar Stache
  • *****
  • Posts: 1339
  • Age: 52
  • Location: Ann Arbor, Michigan
Re: Race from $1M to $2M
« Reply #195 on: June 28, 2017, 10:24:39 PM »
And the stock market marches on.

CanuckExpat

  • Magnum Stache
  • ******
  • Posts: 2522
  • Age: 34
  • Location: Travelling
    • Freedom35
Re: Race from $1M to $2M
« Reply #196 on: July 01, 2017, 10:57:00 AM »
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

And at $1.2M at 1/31/2017

Presumably this particular rally will end sooner or later, it won't be as long as I thought if it keeps up like this (not that I expect it to)

$1.235M for 3/31/2017 at the end of the quarter.
Not bad for not working. I keep saying it can't last much longer!

$1.267M for 6/30/2017 at the end of the second quarter.
Still not working, and we bought a car and had a baby during that time, so apparently the rally kept going..
Gains in June were relatively much smaller than in the months before
It's fun to project out those kind of quarterly gains to the entire year, but I image it will end up more modest
Retired, or just homeless and jobless.
Blog
Journal

talltexan

  • Handlebar Stache
  • *****
  • Posts: 1113
Re: Race from $1M to $2M
« Reply #197 on: July 05, 2017, 02:26:00 PM »
My net worth is still below $1 million (although it would be fun to hand wave away about $220,000 in debt and consider only the assets column). But I plan on graduating from the six-figure club some time in the next year, as long as there is decent market appreciation.

Melisande

  • Stubble
  • **
  • Posts: 165
Re: Race from $1M to $2M
« Reply #198 on: July 05, 2017, 07:56:00 PM »
We got our quarterly investment statements today so I recalculated our net worth. I came up with $1,993,000 (mostly in investments & cash). Seven thousand to the next big milestone!

Mr. Melisande is planning on working at least 8 more years (he doesn't want to retire early, although I have), so maybe we'll make it up to 2.5M or even more.


DavidAnnArbor

  • Handlebar Stache
  • *****
  • Posts: 1339
  • Age: 52
  • Location: Ann Arbor, Michigan
Re: Race from $1M to $2M
« Reply #199 on: July 05, 2017, 08:48:18 PM »
We got our quarterly investment statements today so I recalculated our net worth. I came up with $1,993,000 (mostly in investments & cash). Seven thousand to the next big milestone!

Mr. Melisande is planning on working at least 8 more years (he doesn't want to retire early, although I have), so maybe we'll make it up to 2.5M or even more.

I think there's also a thread on here in the race from $2 million to $3 million