Author Topic: Race from $1M to $2M  (Read 38795 times)

Melisande

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Re: Race from $1M to $2M
« Reply #200 on: July 06, 2017, 04:57:42 AM »
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

Thanks, found the thread!

webguy

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Re: Race from $1M to $2M
« Reply #201 on: July 06, 2017, 10:11:54 PM »
Count me in. I love these threads as I like seeing progress over time.  I'm carrying over my progress from the 500k-1m thread if that's OK..

I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

I made it to $748k! Keep saving everybody!!

I made it to $988k and was getting excited... and then taxes hit! Looks like it'll be another few months yet :(

I finally did it!! Crawled over the line to $1,000,330 today!  Feels pretty surreal. Never thought I'd actually be worth a million dollars. Now I guess I keep on saving towards the next million!

Currently at $1.11m.  Don't really have a goal number at this point. I love running my own business so just tryna ride it out as long as possible and "make hay while the sun shines" as they say.

Passed the half way point!  Somehow we have $1.535m. Not sure how long the next 0.465 will take but I'll report back if we get there!

Bateaux

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Re: Race from $1M to $2M
« Reply #202 on: July 07, 2017, 01:42:04 AM »
I truly love these threads, all of them. You can feel the positive energy in every post, whether it's the 100k or $1,2,3 and beyond million dollar threads.  I can't sleep and work is in a few hours.  Nice to know you really don't have if you choose not to anymore.
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neverrun

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Re: Race from $1M to $2M
« Reply #203 on: July 08, 2017, 04:31:29 AM »
Dollar change since January 1, 2017 to investment accounts 83,000; Gross pay 82,000; winning. 
« Last Edit: July 08, 2017, 04:33:15 AM by neverrun »

talltexan

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Re: Race from $1M to $2M
« Reply #204 on: July 10, 2017, 01:42:30 PM »
how much of that dollar change is your own saving versus how much is change in value of existing 'stache?

DavidAnnArbor

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Re: Race from $1M to $2M
« Reply #205 on: July 10, 2017, 07:23:35 PM »
My Vanguard accounts are up 8.7% for the year so far.

neverrun

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Re: Race from $1M to $2M
« Reply #206 on: July 11, 2017, 05:45:22 AM »
how much of that dollar change is your own saving versus how much is change in value of existing 'stache?

I would guess 'stache growth is more than 50% at least for this year.

farmecologist

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Re: Race from $1M to $2M
« Reply #207 on: July 11, 2017, 07:27:49 AM »
how much of that dollar change is your own saving versus how much is change in value of existing 'stache?

I would guess 'stache growth is more than 50% at least for this year.

Our stache has grown at an amazing rate lately too.  The only problem is that I've become less motivated at work...which isn't good!  I think the inevitable stock market 'correction' will be the kick in the pants I need...although I'm certainly not hoping for one.


desk_jockey

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Re: Race from $1M to $2M
« Reply #208 on: July 11, 2017, 01:42:11 PM »
Our stache has grown at an amazing rate lately too.  The only problem is that I've become less motivated at work...which isn't good!  I think the inevitable stock market 'correction' will be the kick in the pants I need...although I'm certainly not hoping for one.

I'm hoping for one.   I'm ~3 years away from FI and around halfway through this race.  I'd prefer to have a correction in these next few years than see the market keep climbing steadily and see a PE 10 north of 37 around the time that I'm thinking to pull the trigger.   

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #209 on: July 15, 2017, 10:52:11 AM »
Our stache has grown at an amazing rate lately too.  The only problem is that I've become less motivated at work...which isn't good!  I think the inevitable stock market 'correction' will be the kick in the pants I need...although I'm certainly not hoping for one.

I'm hoping for one.   I'm ~3 years away from FI and around halfway through this race.  I'd prefer to have a correction in these next few years than see the market keep climbing steadily and see a PE 10 north of 37 around the time that I'm thinking to pull the trigger.
This is my mindset too.

Exflyboy

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Re: Race from $1M to $2M
« Reply #210 on: July 16, 2017, 03:02:24 PM »
Not exactly sure what the accounting rules are for measuring the $2M.. but..

We are at

$1824k.. investible.
 $519 k.. Pension value
 
$2343k Total liquid.

House (including rentals I'm guessing at maybe $400k),

We don't have any kids.. yearly spend is around $35k and we get about $20k/yr in rent. We are now both RE'd and intend to do some travel.

Bateaux

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Re: Race from $1M to $2M
« Reply #211 on: July 21, 2017, 12:38:22 AM »
All that and you're gonna spend 35K ?

Holy smokes.   Hope you have a good charty since you have no kids.  Enjoy it.  You've arrived!
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Exflyboy

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Re: Race from $1M to $2M
« Reply #212 on: July 21, 2017, 10:48:19 AM »
All that and you're gonna spend 35K ?

Holy smokes.   Hope you have a good charty since you have no kids.  Enjoy it.  You've arrived!

Well what we need to spend vs what we will spend might be slightly different.. Gee we might take a huge trip every year and spend $60k... Wait.. Thats still only 1.7% WR..:)

In seriousness though, we don't expect to be landlords forever, maybe another 5 years perhaps.

brooklynmoney

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Re: Race from $1M to $2M
« Reply #213 on: July 21, 2017, 02:22:54 PM »
The more the market goes up and my stash goes along with it has an inverse correlation to my motivation at work. It's really hard to make myself get up and go everyday.

Exflyboy

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Re: Race from $1M to $2M
« Reply #214 on: July 21, 2017, 02:37:33 PM »
Yup.. I totally get that and I remember it well..:)

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #215 on: July 21, 2017, 03:21:26 PM »
The more the market goes up and my stash goes along with it has an inverse correlation to my motivation at work. It's really hard to make myself get up and go everyday.
Me too!!

brooklynmoney

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Re: Race from $1M to $2M
« Reply #216 on: July 21, 2017, 08:55:25 PM »
The more the market goes up and my stash goes along with it has an inverse correlation to my motivation at work. It's really hard to make myself get up and go everyday.
Me too!!

It's so bad that some mornings I wake up and my first thought is "What would happen if I didnt go in today" haha

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #217 on: July 22, 2017, 11:35:30 AM »
It's so bad that some mornings I wake up and my first thought is "What would happen if I didnt go in today" haha
I caught myself thinking this too as morale in my office deteriorated since January 2017.  When things started sucking my mind drifted off to dream of better things; I knew I had an exit plan.  But most of my mates don't.  I knew I couldn't slack off and increase the burden on my office mates; I still had to carry my weight in the office.  Fortunately for me my time in my current job is coming to a close, and I'm departing in a positive light as a guy who contributed to the team.  I'll be moving on to bigger and better things and retirement paperwork is not long away.

Bateaux

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Re: Race from $1M to $2M
« Reply #218 on: July 22, 2017, 01:13:40 PM »
Riding my bike alone in the rain yesterday, I was just thinking how much I loved just riding my bike.  How little money it costs to just ride my bike.  Then I think about being forced to work overtime this weekend.   What if I just don't go?  I have no debt so bill collecters won't be calling. Some quick 25X math in my head told me $70,000.  That's what you'd draw from your stash if you just kept riding.  2019
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Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #219 on: July 23, 2017, 02:48:47 PM »

Itchyfeet

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Re: Race from $1M to $2M
« Reply #220 on: July 24, 2017, 02:18:05 PM »
Riding my bike alone in the rain yesterday, I was just thinking how much I loved just riding my bike.  How little money it costs to just ride my bike.  Then I think about being forced to work overtime this weekend.   What if I just don't go?  I have no debt so bill collecters won't be calling. Some quick 25X math in my head told me $70,000.  That's what you'd draw from your stash if you just kept riding.  2019

I am currently on vacation cycling across a chunk of Europe. I am in Hungary at the moment, and realised I am spending signicantly less than a 4% withdrawal rate would permit, yet I am still working.

I said to DW we could just keep doing this amd not go back to work... but we couldn't afford to have an empty home base to return to when the cycling gets old.

Working till 2019 would mean owning a home base amd still having enough cash to cycle across Europe, staying in pretty nice hotels amd eating out most days.

Acorns

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Re: Race from $1M to $2M
« Reply #221 on: July 25, 2017, 03:34:38 PM »

I am currently on vacation cycling across a chunk of Europe. I am in Hungary at the moment, and realised I am spending signicantly less than a 4% withdrawal rate would permit, yet I am still working.


Totally o/t of the thread, but this sounds like an awesome vacation! I would love to hear more of the details.

Cache Stash

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Re: Race from $1M to $2M
« Reply #222 on: July 26, 2017, 12:16:44 PM »
Dollar change since January 1, 2017 to investment accounts 83,000; Gross pay 82,000; winning.
I'm almost there with you!  Investment change: $78,000; Gross pay: $72,500.



Itchyfeet

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Re: Race from $1M to $2M
« Reply #223 on: July 26, 2017, 12:45:56 PM »

I am currently on vacation cycling across a chunk of Europe. I am in Hungary at the moment, and realised I am spending signicantly less than a 4% withdrawal rate would permit, yet I am still working.


Totally o/t of the thread, but this sounds like an awesome vacation! I would love to hear more of the details.

DW and I are just cycling from Germany to Budapest, generally following the Danube. The section from Passau to Vienna is extremely popular with peeps on bikes (especially older folk and families) as it is quite flat and really well set up for cycling holidays. Maybe too popular for some. We didn't mind it. Now we are in Hungary and we only see a handful of touring cyclists each day, which also has some appeal.

We have been cycling 50-90kms each day. It is just a 2 week vacation for us.

plainjane

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Re: Race from $1M to $2M
« Reply #224 on: July 30, 2017, 05:39:35 AM »
I am currently on vacation cycling across a chunk of Europe. I am in Hungary at the moment, and realised I am spending signicantly less than a 4% withdrawal rate would permit, yet I am still working.
Totally o/t of the thread, but this sounds like an awesome vacation! I would love to hear more of the details.
DW and I are just cycling from Germany to Budapest, generally following the Danube. [...]
We have been cycling 50-90kms each day. It is just a 2 week vacation for us.

Do you know the next space you are staying at and send your belongings ahead, or are you carrying them with you?What/how much are you carrying? How are you scheduling rest days, if at all? Always hostels/hotels, or are you doing any camping along the way? 

Have you ever done something like this before?  How did you prepare? I love the idea, but the SO is resistant, so I need to offer the steps slowly and point to other people who have had success. :)
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Itchyfeet

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Re: Race from $1M to $2M
« Reply #225 on: July 30, 2017, 10:33:16 AM »
Haha, so many questions.

We had a company shuttle our suitcases to hotels for us as this was DW's first time cycling as an adult.

The trip was a success and She is keen to ride unsupported next, and to take on a bigger challenge. Meeting others on the road carrying camping gear etc helped to show what was possible.

DW was basically scared of bikes prior to doing this. It was a big deal that she agreed to do this.

We did very little preparation. We borrowed a bike for DW about a month ahead of going, and we rode together maybe twice a week for that month, building up to 50km rides.

Due to the lack of prep, the first few days were tiring and our legs were sore, but we got cycle fit pretty quick and by the end of the two weeks our legs were good.

We had no rest days. Just rode 12 days straight from Passau to Budapest. I'd recommend to anyone else doing it to have a rest day in Vienna mid ride, although it was ok without one as day 8 was only 20kms so was basically a rest day (day 9 was 85kms our longest day). Anyhow, having only half a day in Vienna didn't allow for much sight seeing so an extra day there would have been good.

The section from Passau to Vienna is perfect for non-cyclists as it is pretty much dead flat (unless you do some side trips like we did into the surrounding hills) and there are restaurants every few kms to act as a distraction.

The scenery is also probably more spectacular over this section, but the downside is that you will see hundreds of cyclists every day. Most cyclists are over 60s retirees. Many are families. This didn't detract from our enjoyment, but undoubtedly will be a big turn off to some. I have heard that in August it's pretty painful with so many kids on the route.

From Vienna onward we saw only a handful of cyclists each day, and a lot of the riding was through farming areas without the glorious views of quaint riverside villages we had on the first part. But the pay-off on the section from Vienna to Budapest was that the towns and cities we stopped at each night were more interesting places than the first part of the trip (eg: Bratislava, Gyor, Visegrad). The last 2 days into Budapest were really nice rides.

In the end, I'd recommend both halves of the ride. The whole trip is a great, safe, easy introduction to cycle touring. The distances were 50-60kms each day. We ended up riding a little over 600kms over the 12 days.

plainjane

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Re: Race from $1M to $2M
« Reply #226 on: July 30, 2017, 06:21:45 PM »
Haha, so many questions.
[...]
In the end, I'd recommend both halves of the ride. The whole trip is a great, safe, easy introduction to cycle touring. The distances were 50-60kms each day. We ended up riding a little over 600kms over the 12 days.

Thank you for the detailed answers. This is great info for my nefarious planning :)
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chasesfish

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Re: Race from $1M to $2M
« Reply #227 on: July 31, 2017, 04:55:51 AM »
Does anyone else feel like your numbers get "stuck" for a while...?  I'm there...invested assets can't seem to crack $1.2mil

I've been out of the individual stock game for a long time, but still carry about 25% of my portfolio in a nice mix of companies.  The Amazon/Whole Foods announcement whacked 12% off Costco's value then a bad report by an auto parts firm whacked my Genuine Parts holdings...

I've owned them for a while and they pay nice dividends, so my basis is low and I'm holding off/selling these until ER when I have a 0% Capital Gains rate.  It just kills me to be 60%+ passive investing and trailing the market.
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wannabe-stache

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Re: Race from $1M to $2M
« Reply #228 on: July 31, 2017, 07:58:02 AM »
My #Number is 1.4M to 1.625M, but I only have ~230k invested (330k+ total) right now. (though increasing fast)

I think you'll find that MOST here never plan on hitting 2 million and quite a few are done in the 750k zone.

By the time I can officially join this race, you'll probably be done! (another 6-8 years or so...)

We are at $1.6M but that excludes the house and $150K in cash.  i always like to be conservative but wondered what others do when modeling FI.  i don't want to include cash in my net worth as it won't earn 5/6/7% like equities will.  And i don't include the house as well, but perhaps if i turned it to a rental i would.

Itchyfeet

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Re: Race from $1M to $2M
« Reply #229 on: August 01, 2017, 12:57:45 AM »
I do include equity in my home (although currently we are not living there and have rented it out) when calculating NW. However, for FIRE I do not include the home equity in calculating the stash I need for funding FIRE. Maybe this is inconsistent but whatever!

Regarding cash, I do include that in the stash amount. I only plan to hold 2% of
my stash in cash (ie: 6 months costs, which could be stretched to last 12 months in a crisis). Yes, the cash is a slight drag on returns, but is also a hedge against market volatility, as are bonds/ fixed income Investments.

For my stash to last 40 years it needs to average 2.6% real returns. So whilst stocks might return 4-7% above inflation, the average return doesn't need to be this high so the lower returning investments protect against sequence of return risk.
« Last Edit: August 01, 2017, 11:26:51 AM by Itchyfeet »

farmecologist

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Re: Race from $1M to $2M
« Reply #230 on: August 01, 2017, 11:04:56 AM »
I do include equity in my home (although currently we are not living there and have rendered it out) when calculating NW. However, for FIRE I do not include the home equity in calculating the stash I need for funding FIRE. Maybe this is inconsistent but whatever!

Regarding cash, I do include that in the stash amount. I only plan to hold 2% of
my stash in cash (ie: 6 months costs, which could be stretched to last 12 months in a crisis). Yes, the cash is a slight drag on returns, but is also a hedge against market volatility, as are bonds/ fixed income Investments.

For my stash to last 40 years it needs to average 2.6% real returns. So whilst stocks might return 4-7% above inflation, the average return doesn't need to be this high so the lower returning investments protect against sequence of return risk.

Pretty much the same here.   Since it is fully paid off, we include the house for net worth calculations.  However, we do not include the house for FIRE (investment) calculations.


BoonDogle

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Re: Race from $1M to $2M
« Reply #231 on: August 01, 2017, 02:45:13 PM »
At 1.147M at 6/30/17.  Looks like I am here to stay for a while based on projections - at least another 4.5 years.  Unfortunately, I have a chunk of assets not earning a dime.  Company stock payout is only at cost unless you stay beyond a certain age - no thanks.

DavidAnnArbor

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Re: Race from $1M to $2M
« Reply #232 on: August 01, 2017, 04:56:29 PM »
Does anyone else feel like your numbers get "stuck" for a while...?  I'm there...invested assets can't seem to crack $1.2mil

I've been out of the individual stock game for a long time, but still carry about 25% of my portfolio in a nice mix of companies.  The Amazon/Whole Foods announcement whacked 12% off Costco's value then a bad report by an auto parts firm whacked my Genuine Parts holdings...

I've owned them for a while and they pay nice dividends, so my basis is low and I'm holding off/selling these until ER when I have a 0% Capital Gains rate.  It just kills me to be 60%+ passive investing and trailing the market.

I think my investments are approaching a 10% return this year so far, not even counting what I contributed, and this is because I'm in index funds, US and international.

talltexan

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Re: Race from $1M to $2M
« Reply #233 on: August 02, 2017, 02:34:53 PM »
just logged into my Roth IRA fund and checked...up another 3% over the past quarter...If I can maintain 3%/quarter forever I'm good!

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Re: Race from $1M to $2M
« Reply #234 on: August 02, 2017, 11:02:58 PM »
I can still remember the first time I heard of the 4% rule.  I think it was in the 90s listening to Bob Brinker.  My tiny stash was less than 6 figures.  My heart was broken.  Where'd this voice on the radio come up with such a figure.  My whole stash would yield me less than $4000 a year.  Who am I kidding?  Why do I even bother saving at all.  It's two decades later now.  The stash has been untouched and growing all the while.  Now it's worth something.  Now we could actually live on 4%.  In fact, we're down to the last 1/8 of our savings goal.  It won't take nearly 1/8 of the time to get there.  That first 1/8 was hard and long.   Now we're like a boat with it's engine cut and drifitng to the dock.  The momentum will take us to the finish.
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Itchyfeet

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Re: Race from $1M to $2M
« Reply #235 on: August 02, 2017, 11:40:36 PM »
I can still remember the first time I heard of the 4% rule.  I think it was in the 90s listening to Bob Brinker.  My tiny stash was less than 6 figures.  My heart was broken.  Where'd this voice on the radio come up with such a figure.  My whole stash would yield me less than $4000 a year.  Who am I kidding?  Why do I even bother saving at all.  It's two decades later now.  The stash has been untouched and growing all the while.  Now it's worth something.  Now we could actually live on 4%.  In fact, we're down to the last 1/8 of our savings goal.  It won't take nearly 1/8 of the time to get there.  That first 1/8 was hard and long.   Now we're like a boat with it's engine cut and drifitng to the dock.  The momentum will take us to the finish.

Yes, the race to the finish line is rapid. So far for this year our investment returns are higher than our salaries, and our growth in Net Worth is double what we are spending (since we only spend half our salary).

However, I don't want to cut our engines until  our boat is well and truly beached.... somewhere nice and sunny with lush forest fringing the beach :-).

We will keep full throttle the whole way - maybe it is through fear that if we cut the engines and coast the tides of the bull market will turn and the bear tide will push us back out to sea.
« Last Edit: August 03, 2017, 03:24:37 AM by Itchyfeet »

Exflyboy

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Re: Race from $1M to $2M
« Reply #236 on: August 03, 2017, 03:08:37 AM »
Yup same here.. 50% pullback would still leave us enough but I'd be nervous :)

Bateaux

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Re: Race from $1M to $2M
« Reply #237 on: August 03, 2017, 06:07:34 AM »
Still pushing with both screws for another 22 months.
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RetirementDreaming

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Re: Race from $1M to $2M
« Reply #238 on: August 31, 2017, 06:34:28 PM »
Getting closer....

11/16 1.0M
5/17 1.2M
8/17 1.28M

Bateaux

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Re: Race from $1M to $2M
« Reply #239 on: August 31, 2017, 07:04:39 PM »
I get all excited when I see a new post here.  Great job RetirementDreaming
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Itchyfeet

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Re: Race from $1M to $2M
« Reply #240 on: September 01, 2017, 01:38:33 AM »
Getting closer....

11/16 1.0M
5/17 1.2M
8/17 1.28M

280K increase in 9 months is pretty f&cking impressive :-)

We are having a similarly good time of it ATM as well.... reminds me I should tally up where we have ended August at.

Bateaux

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Re: Race from $1M to $2M
« Reply #241 on: September 01, 2017, 03:55:54 AM »
We've just kinda held the last month or so.  Had some annual expenses hit.  Home insurance,  flood insurance,  car insurance and losts of home maintenance costs. 
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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Itchyfeet

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Re: Race from $1M to $2M
« Reply #242 on: September 01, 2017, 04:46:49 AM »
We've just kinda held the last month or so.  Had some annual expenses hit.  Home insurance,  flood insurance,  car insurance and losts of home maintenance costs.

We went backwards a little too (as detailed in the Class of 2019 thread).

C'est la Vie.

I am still in awesome financial shape!!

Bateaux

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Re: Race from $1M to $2M
« Reply #243 on: September 01, 2017, 06:59:35 AM »
Rechecked Mint.  Actually net worth is a smidge above previous all time high.  Cash is lower but investments have grown.  We're still working so unless we spend like idiots or the market tanks the trend will be new all time highs in NW by at least 15k a month. 
“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

bernieb

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Re: Race from $1M to $2M
« Reply #244 on: September 01, 2017, 07:28:06 AM »
I'm in.

Canadian $

TNW 1.88 M based on - Invested and cash 1.45 M and home equity 430 k

Looking to get to 2 M total invested and then convince my wife that I can retire.....

zinethstache

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Re: Race from $1M to $2M
« Reply #245 on: September 01, 2017, 07:20:59 PM »
I am in too!

However, the race for me might be very, very slow! I am FIREd so the increase in our stash is based on appreciation and our profits from increases in the stock market.

We started the year somewhere around 1.3m and were inching along and are closer to 1.4m now due to our rentals increasing according to Zillow (the only real measure I have, but typically Zillow has been below actual selling price in my region so this is pretty conservative) and my IRA is going crazy even though I am 70/30 AA. It was 367k in Jan and is now 413k as of today.

This thread will make me pay more attention to these factors. We are not technically drawing off of our investments at this time, but we will be cashing out one of my two pensions next year. We live almost exclusively on our rental income having dipped into my stashed 2017 income for a few travel items (I worked through most of January and got my annual bonus in March).

It is fun to see how everyone is doing! I hope it doesn't end up making me want to work again:(

marty998

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Re: Race from $1M to $2M
« Reply #246 on: September 01, 2017, 10:48:10 PM »
Hi guys, finally made it to this thread. Start today at $1,009,000.

Onwards we go, should get to $1,024,000 by the end of September... bonus season at work :)

Good luck, inspired by you all!

Dicey

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Re: Race from $1M to $2M
« Reply #247 on: September 02, 2017, 12:34:03 AM »
Hi guys, finally made it to this thread. Start today at $1,009,000.

Onwards we go, should get to $1,024,000 by the end of September... bonus season at work :)

Good luck, inspired by you all!
Congratulations, marty998! The first one is the hardest. From here, you'll pick up speed.
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

marty998

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Re: Race from $1M to $2M
« Reply #248 on: September 02, 2017, 03:16:36 AM »
Hi guys, finally made it to this thread. Start today at $1,009,000.

Onwards we go, should get to $1,024,000 by the end of September... bonus season at work :)

Good luck, inspired by you all!
Congratulations, marty998! The first one is the hardest. From here, you'll pick up speed.

Thankyou Dicey :)

I've noticed a little bit of moss growing on the compounding rock...

Magic that stuff is ha

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #249 on: September 02, 2017, 05:07:40 AM »
Hi guys, finally made it to this thread. Start today at $1,009,000.

Onwards we go, should get to $1,024,000 by the end of September... bonus season at work :)

Good luck, inspired by you all!
Come right aboard!