Author Topic: Race from $1M to $2M  (Read 42645 times)

marty998

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Re: Race from $1M to $2M
« Reply #300 on: October 02, 2017, 03:09:31 AM »
I provide a monthly financial report to DW on Net Worth Growth by source and monthly income by source and our savings rate. I endeavor to engage in some discussion about our financial performance to no avail. The conversation quickly to reverts to topics like "when will you fix that broken light bulb/ door handle/ etc". Oh well.

So? When are you going to fix that broken light bulb?

Koogie

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Re: Race from $1M to $2M
« Reply #301 on: October 02, 2017, 08:16:56 AM »
I provide a monthly financial report to DW on Net Worth Growth by source and monthly income by source and our savings rate. I endeavor to engage in some discussion about our financial performance to no avail. The conversation quickly to reverts to topics like "when will you fix that broken light bulb/ door handle/ etc". Oh well.

So? When are you going to fix that broken light bulb?

Has to fix the door handle first, to get into the room to fix the light bulb..

ha
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itchyfeet

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Re: Race from $1M to $2M
« Reply #302 on: October 02, 2017, 09:22:11 AM »
There is always something I haven't done or have done wrong. Aah the joys of marriage.

Jenny1974

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Re: Race from $1M to $2M
« Reply #303 on: October 02, 2017, 02:49:52 PM »
Holy crap!  Just ran our numbers for September.  NW has increased almost $245,000 for the year.  $2MM . . . here I come!!!!

Bateaux

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Re: Race from $1M to $2M
« Reply #304 on: October 03, 2017, 06:15:22 AM »
Holy crap!  Just ran our numbers for September.  NW has increased almost $245,000 for the year.  $2MM . . . here I come!!!!

Congratulations!   The run up has been amazing.   We're 200k or so short of the 2M investments goal now.  Hard to believe we're 90% of the way.  Carjack has the light on for us in the 2M to 3M thread.
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Car Jack

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Re: Race from $1M to $2M
« Reply #305 on: October 03, 2017, 06:48:40 AM »
Picture you're racing a bicycle and I'm on the back of a pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!

Exflyboy

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Re: Race from $1M to $2M
« Reply #306 on: October 03, 2017, 09:06:15 AM »
Awesome.. we too have a mini goal.. Last night we were $125k short of $2m in investments. Another 6.6%.. woohoo..:)

We have small pensions, plus the paid off house in addition to the above.

Bateaux

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Re: Race from $1M to $2M
« Reply #307 on: October 03, 2017, 07:39:40 PM »
Picture you're racing a bicycle and I'm on the back of a pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!

Haha!
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Dicey

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Re: Race from $1M to $2M
« Reply #308 on: October 03, 2017, 07:42:32 PM »
There is always something I haven't done or have done wrong. Aah the joys of marriage.
Hah! When I was single, I used to say, "No one to ask, no one to blame."
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Dicey

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Re: Race from $1M to $2M
« Reply #309 on: October 03, 2017, 07:46:19 PM »
Picture you're racing a bicycle and I'm on the back of an old, paid for, and required for specific work pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
FTFY.

Seriously, is there a $2M to $3M thread? Is Car Jack the (ring)leader?

ETA: Complete Senior Moment. I could delete these comments, but I think I'll let my "stoopids" stand. Apparently I've been part of the other group for quite some time. It's kinda funny how fast it grows. As in, one can forget what ridiculously privileged category one "belongs" in. I've said it before, and I'll keep saying it: This shit works, man!
« Last Edit: October 03, 2017, 08:01:44 PM by Dicey »
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Goldy

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Re: Race from $1M to $2M
« Reply #310 on: October 03, 2017, 08:35:17 PM »
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.

Half way mark!  Ticked over 1.5 in September, it's really starting to pick up steam now.

Exflyboy

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Re: Race from $1M to $2M
« Reply #311 on: October 04, 2017, 10:53:04 AM »
Picture you're racing a bicycle and I'm on the back of an old, paid for, and required for specific work pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
FTFY.

Seriously, is there a $2M to $3M thread? Is Car Jack the (ring)leader?

ETA: Complete Senior Moment. I could delete these comments, but I think I'll let my "stoopids" stand. Apparently I've been part of the other group for quite some time. It's kinda funny how fast it grows. As in, one can forget what ridiculously privileged category one "belongs" in. I've said it before, and I'll keep saying it: This shit works, man!

One great thing about getting older.. You really don't care what other people think.. Probably being wealthy (I don't know what "rich" actually means) helps too..:)

Dicey

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Re: Race from $1M to $2M
« Reply #312 on: October 04, 2017, 11:10:47 AM »
Haha, thanks, EFB. I guess it depends what you count. We might be in one if I count invested assets and cash only, or another one if I count DH's defined benefit pension plan, including future retirement healthcare, paid-for HCOLA house, equity in rental properties, blah x3. If I look too hard, I might discover we "should" be in yet another group. I know you know what I mean, EFB. <wink>
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markbike528CBX

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Re: Race from $1M to $2M
« Reply #313 on: October 04, 2017, 12:49:47 PM »
Picture you're racing a bicycle and I'm on the back of an old, paid for, and required for specific work pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
FTFY.

Seriously, is there a $2M to $3M thread? Is Car Jack the (ring)leader?

ETA: Complete Senior Moment. I could delete these comments, but I think I'll let my "stoopids" stand. Apparently I've been part of the other group for quite some time. It's kinda funny how fast it grows. As in, one can forget what ridiculously privileged category one "belongs" in. I've said it before, and I'll keep saying it: This shit works, man!
Equivalent senior moment trying to be helpful:
Yes there is such a thread https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/ and yes, Car Jack is the ringleader (OP, thread starter).

Dicey

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Re: Race from $1M to $2M
« Reply #314 on: October 04, 2017, 10:33:16 PM »
Yeah, I'm on that thread, too. Erm. Fortunately,  our stache is big enough that I'm no imposter there. I consider myself in good company, either place.
I did it! I have a journal!
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Exflyboy

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Re: Race from $1M to $2M
« Reply #315 on: October 04, 2017, 11:56:23 PM »
Hehe.. of course I also have 3 three years to catch up..:)

Is any of this relevant?... nope!

farmecologist

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Re: Race from $1M to $2M
« Reply #316 on: October 05, 2017, 07:53:16 AM »
Picture you're racing a bicycle and I'm on the back of an old, paid for, and required for specific work pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
FTFY.

Seriously, is there a $2M to $3M thread? Is Car Jack the (ring)leader?

ETA: Complete Senior Moment. I could delete these comments, but I think I'll let my "stoopids" stand. Apparently I've been part of the other group for quite some time. It's kinda funny how fast it grows. As in, one can forget what ridiculously privileged category one "belongs" in. I've said it before, and I'll keep saying it: This shit works, man!
Equivalent senior moment trying to be helpful:
Yes there is such a thread https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/ and yes, Car Jack is the ringleader (OP, thread starter).


I'm also on the other thread.  However, in my opinion we have only 'partially graduated' there because we are currently counting our paid off house in the calculations.  However, we are getting close to 'full graduation' (investable assets only) possibly sometime late next year.


Bird In Hand

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Re: Race from $1M to $2M
« Reply #317 on: October 05, 2017, 08:51:53 AM »
I'm also on the other thread.  However, in my opinion we have only 'partially graduated' there because we are currently counting our paid off house in the calculations.  However, we are getting close to 'full graduation' (investable assets only) possibly sometime late next year.

I like this approach.  I also plan on partially graduating to the other thread by counting NW, and then fully graduating later when investable assets reach $2M.  There might be a year or two difference in the graduation dates -- any longer and it means the markets are pretty flat or falling.
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CanuckExpat

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Re: Race from $1M to $2M
« Reply #318 on: October 05, 2017, 02:32:41 PM »
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..

$1.31M for 10/1/2017 at the end of the third quarter
So this crazy run up hasn't slowed down. Still not working, not much else to report.
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bigchrisb

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Re: Race from $1M to $2M
« Reply #319 on: October 05, 2017, 03:33:41 PM »
I'm also on the other thread.  However, in my opinion we have only 'partially graduated' there because we are currently counting our paid off house in the calculations.  However, we are getting close to 'full graduation' (investable assets only) possibly sometime late next year.

I like this approach.  I also plan on partially graduating to the other thread by counting NW, and then fully graduating later when investable assets reach $2M.  There might be a year or two difference in the graduation dates -- any longer and it means the markets are pretty flat or falling.

I'm in the same boat with you - $2.94m net worth, $500k debt, $1.05m house value.  I'd rather house prices not be so silly in my country (Australia)! At the end of the day, this isn't a competition, so its not about an "absolute" metric, but one that helps drive you towards your own goals.  I think the most important thing is to keep your own metric (inc/ex house equity) consistent, to keep yourself accountable.

brooklynmoney

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Re: Race from $1M to $2M
« Reply #320 on: October 05, 2017, 09:16:06 PM »
The portfolio is growing so fast it feels like a runaway train about to careen off the track. Looking at Personal Capital scares me now. I keep thinking how long can this last? Also f-ck I don't want to work anymore haha. My motivation is inversely correlated with market performance.

Timmm

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Re: Race from $1M to $2M
« Reply #321 on: October 07, 2017, 07:06:35 AM »
Hey everyone, I've just read through this thread in the last couple of days. I find a lot of the comments very familiar to my own thoughts, including a little uncertainty in the smartest way to count home equity. I've been regularly tracking our assets and debts for five years, and have the details separated, and occasionally add a new row to my spreadsheet that adds another perspective - total net, net cash only, hypothetical budget for residence if all sold after setting aside enough for 4% swr...

The one I've watched most closely assumes selling rental houses at zillow estimates less 6% commission and paying off our current residence. It's had the smoothest, steadiest curve. Here's a history sample for it:

12/15: 590k
12/16: 1.05M
6/17:   1.25M
10/17: 1.4M

The assets are split roughly evenly in three groups: 401k/IRA, taxable investments, 2 sfh rentals. We probably have a bit more than that in equity in our residence - and it would be pretty decadent to pay it off and stay in it in retirement as the above projects. It's big and expensive, and we will likely sell all the houses and relocate just before retiring. We are considering a variety of retirement locations that are also pretty decadent, but with a smaller size might still cost $500k less than our current.

We still have two young adult children who are still dependent (one just starting college), and we are pretty scared of the potential medical insurance costs, so I expect retirement is a couple of years away. But our savings growth has also been exceeding gross income for a while, so I find it harder and harder to hustle at work.

talltexan

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Re: Race from $1M to $2M
« Reply #322 on: October 10, 2017, 01:18:03 PM »
I just checked mint last time and had the first moment of my life in which I was arguably a millionaire. I'd been lurking here some already because they say you should surround yourself with people you aspire to be like ;-)

Anyway, this wealth came to me despite some bad habits and was mainly because of my super-awesome wife who kicks ass at work. I've decided to try to focus on clearing some debts with any investment gains I have above today. Most of you guys will probably beat me to $2 million, but thanks for including me!

brooklynmoney

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Re: Race from $1M to $2M
« Reply #323 on: October 10, 2017, 08:19:03 PM »
Congrats tall Texan welcome to the club!!

Bateaux

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Re: Race from $1M to $2M
« Reply #324 on: October 10, 2017, 08:49:42 PM »
Welcome aboard Talltexan.  Best of luck.
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ysette9

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Re: Race from $1M to $2M
« Reply #325 on: October 10, 2017, 09:07:41 PM »
I haven’t posted this thread for a while as I was busy being pregnant and hospitalized and giving birth and buying a house and remodeling a house. Phew! I popped my head up the other day and realized that our invested assets are somewhere around $1.57 even though we took out $200k out of investments to buy a house. It was sad seeing that duo, but we are pleased with what we were able to get. Now there is the scary mortgage debt, but so it goes. On the plus side, I am getting skylights and insulated interior walls. Winning!

Amazing to see the number that high. I hope we can continue to sock it away at a good clip. I feel like we will have to see a good dip in the market before we reach $2M since the market is cyclical. I need to go through a good downturn and have a white-knuckle ride when I have substantial assets, right? Isn’t that how you earn your stripes in the index investing world? :)
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Exflyboy

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Re: Race from $1M to $2M
« Reply #326 on: October 10, 2017, 10:55:58 PM »
Yes thats exactly how it goes.. But if you're in the accumulation phase you actually WANT a big market downturn!

If you're FIRED like me.. well, hopefully you have been through enough downturns to be able to survive the next one..:)

mjr

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Re: Race from $1M to $2M
« Reply #327 on: October 18, 2017, 01:57:38 PM »
My net worth ex-PPOR has been wallowing in the low $1.9m for months with the sharemarket wallowing.  But my salary keeps flowing in and now with the market's recent uptick and October's dividends I suddenly find myself at $1.99m.

A good day in the market or next month's salary will see me there! 

$2m has been "the target" since I crossed $1m in early 2013.  Looks like 2018 will be the retirement year.

Exflyboy

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Re: Race from $1M to $2M
« Reply #328 on: October 18, 2017, 02:03:29 PM »
My net worth ex-PPOR has been wallowing in the low $1.9m for months with the sharemarket wallowing.  But my salary keeps flowing in and now with the market's recent uptick and October's dividends I suddenly find myself at $1.99m.

A good day in the market or next month's salary will see me there! 

$2m has been "the target" since I crossed $1m in early 2013.  Looks like 2018 will be the retirement year.

Woohoo..:)

marty998

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Re: Race from $1M to $2M
« Reply #329 on: October 18, 2017, 02:12:21 PM »
You guys are all killing it ☺️

Mine has gone up about 5 grand on account of our market having a 9 day winning streak.

I too can't help but feel we are due for a fall. Starting to see a few ridiculous run ups in small caps and sectors of the market.

Exflyboy

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Re: Race from $1M to $2M
« Reply #330 on: October 21, 2017, 04:30:39 PM »
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

DavidAnnArbor

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Re: Race from $1M to $2M
« Reply #331 on: October 21, 2017, 07:09:05 PM »
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

You might have to post in the Race from $2M to $3M group

Bateaux

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Re: Race from $1M to $2M
« Reply #332 on: October 21, 2017, 07:53:37 PM »
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

You might have to post in the Race from $2M to $3M group
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Jill P

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Re: Race from $1M to $2M
« Reply #333 on: October 21, 2017, 09:47:43 PM »
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

Fantastic!  Just let time do its job.

Exflyboy

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Re: Race from $1M to $2M
« Reply #334 on: October 22, 2017, 07:27:05 AM »
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

You might have to post in the Race from $2M to $3M group
He's slumming here with us common folk.

Hah.. I don't think I could ever regard millionaires as "common folk".. Having $1M in investments is a hell of an achievement (assuming you're not a trust fund baby)...:)

mjr

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Re: Race from $1M to $2M
« Reply #335 on: October 22, 2017, 05:05:30 PM »
My net worth ex-PPOR has been wallowing in the low $1.9m for months with the sharemarket wallowing.  But my salary keeps flowing in and now with the market's recent uptick and October's dividends I suddenly find myself at $1.99m.

A good day in the market or next month's salary will see me there! 

$2m has been "the target" since I crossed $1m in early 2013.  Looks like 2018 will be the retirement year.

Yaaaaaassssss !!!!

Dicey

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Re: Race from $1M to $2M
« Reply #336 on: October 22, 2017, 05:31:38 PM »
My net worth ex-PPOR has been wallowing in the low $1.9m for months with the sharemarket wallowing.  But my salary keeps flowing in and now with the market's recent uptick and October's dividends I suddenly find myself at $1.99m.

A good day in the market or next month's salary will see me there! 

$2m has been "the target" since I crossed $1m in early 2013.  Looks like 2018 will be the retirement year.

Yaaaaaassssss !!!!
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mjr

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Re: Race from $1M to $2M
« Reply #337 on: October 22, 2017, 05:32:08 PM »
Yes, Australian pesos.  But still.  Thanks!

Llewellyn2006

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Re: Race from $1M to $2M
« Reply #338 on: October 23, 2017, 06:13:13 AM »
We hit 7 figures about 4 weeks ago and it's increased each week since. They say the first million is the hardest - they might just be right.

talltexan

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Re: Race from $1M to $2M
« Reply #339 on: October 23, 2017, 11:58:06 AM »
Those of you who are worried about growth in $$$ to the point that you leave the pool, you still have nine weeks left for charitable contributions for this year to get back under the line.

FireLane

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Re: Race from $1M to $2M
« Reply #340 on: October 23, 2017, 06:48:30 PM »
Dang it! Just as I got here, everyone else is leaving.

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #341 on: October 23, 2017, 09:00:01 PM »
Dang it! Just as I got here, everyone else is leaving.
Don't worry!  I'll be here for awhile!

marty998

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Re: Race from $1M to $2M
« Reply #342 on: October 24, 2017, 03:35:52 AM »
Dang it! Just as I got here, everyone else is leaving.
Don't worry!  I'll be here for awhile!

Ahh me too... I'll be here for a while yet.

Well done mjr. Are you on tenterhooks with the ASX creeping up by 1-2 points a day?!?!?

Quite bizarre this level of non-movement in the market the past few days...

arebelspy

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Re: Race from $1M to $2M
« Reply #343 on: October 24, 2017, 12:18:43 PM »
Dang it! Just as I got here, everyone else is leaving.
Don't worry!  I'll be here for awhile!

Ahh me too... I'll be here for a while yet.

Well done mjr. Are you on tenterhooks with the ASX creeping up by 1-2 points a day?!?!?

Quite bizarre this level of non-movement in the market the past few days...

Why are you watching it daily? Especially with it affecting you ("on tenterhooks")?

Is it going to affect your investing in some way?
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marty998

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Re: Race from $1M to $2M
« Reply #344 on: October 26, 2017, 01:27:37 AM »
Dang it! Just as I got here, everyone else is leaving.
Don't worry!  I'll be here for awhile!

Ahh me too... I'll be here for a while yet.

Well done mjr. Are you on tenterhooks with the ASX creeping up by 1-2 points a day?!?!?

Quite bizarre this level of non-movement in the market the past few days...

Why are you watching it daily? Especially with it affecting you ("on tenterhooks")?

Is it going to affect your investing in some way?

I work for a funds management company. Can't escape it even if I tried ;)

RetirementDreaming

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Re: Race from $1M to $2M
« Reply #345 on: November 02, 2017, 10:21:26 AM »

Getting closer....

11/16 1.0M
5/17 1.2M
8/17 1.28M
10/17 1.34M

CCCA

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Re: Race from $1M to $2M
« Reply #346 on: November 03, 2017, 02:48:49 PM »
We just blew through the $2M mark(!!) partly because of AAPL, which is at an ATH. 
It is up 57% over the past year (vs 24% for the S&P500). 


It took us about 4 years from when we hit 1M (near the beginning of 2014) to hit $2M.  We saved about $200k in that time, so most of the increase was due to increases in the stock market ($800k). 


Now I'm in the enviable position of trying to unload some AAPL shares in the most tax-efficient manner possible and the plan is to keep most of my assets in index funds.
Check out some of our projects.

and the Financial Freedom Calculator.

RetirementDreaming

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Re: Race from $1M to $2M
« Reply #347 on: November 03, 2017, 02:53:35 PM »
Congrats CCCA!  That is quite an accomplishment.  You graduated.  On to the next race.....

Exflyboy

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Re: Race from $1M to $2M
« Reply #348 on: November 03, 2017, 03:50:56 PM »
Nice..

I bought $100k's worth of AAPL at $88 back in 2008 ... I sold it when I made 20%.. Since then it has split 7 to 1 and is now at about $185.. Oh my if only I'd kept it..:)

CCCA

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Re: Race from $1M to $2M
« Reply #349 on: November 03, 2017, 11:24:19 PM »
Congrats CCCA!  That is quite an accomplishment.  You graduated.  On to the next race.....
thanks!  Excited to start RE in a few months!


Nice..

I bought $100k's worth of AAPL at $88 back in 2008 ... I sold it when I made 20%.. Since then it has split 7 to 1 and is now at about $185.. Oh my if only I'd kept it..:)
Yeah I sold some earlier too but bought some dips and it's done very well for me over the past decade.
Check out some of our projects.

and the Financial Freedom Calculator.