Author Topic: Race from $1M to $2M  (Read 115354 times)

Bateaux

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Re: Race from $1M to $2M
« Reply #500 on: February 10, 2018, 04:54:09 AM »
It's times like these, watching over 100k melt away that make it worthwhile to still be working.  It was fresh gains in a mania market and probably will drop more.  Oh well, I'm buying.

aspiringnomad

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Re: Race from $1M to $2M
« Reply #501 on: February 10, 2018, 10:31:56 AM »
Still hanging in there and still have a decent buffer, but if this turns into a full-blown bear market I might crash out of this group.

Holyoak

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Re: Race from $1M to $2M
« Reply #502 on: February 11, 2018, 11:19:08 AM »
It's times like these, watching over 100k melt away that make it worthwhile to still be working.  It was fresh gains in a mania market and probably will drop more.  Oh well, I'm buying.

Funny how 'losing' about the same amount from the peak, has us feeling different emotions.  Even fully ER'd in spend-down mode, and not having worked for about 4 yrs, I'm absolutely calm, and almost comatose about this correction...  I only know I'm down about $108k from the peak on paper, cause I had to go to VG and update a beneficiary.  Come what may come I continue to stick to my plan, continue to live WAY under my means, and grateful for every day I don't have to work.

Having been an investor since just after the 87 crash has taught me a lot, and puts much into perspective; the 2008-ish time period, really was an acid test to see if you could truly stick by your convictions, and live your investing truth.  Remember the pundits literally saying it was the end of the USA, Dow down daily for what seemed a never bottoming panic eternity, martial law suggested, etc...  It was an absolutely binary choice, and I accelerated $$$  additions into the market and stocks.  Hell, if the USA went bust, we all would anyway, but as it turns out choices then have my ER finances in a much better position.  This recent blip, does not even make my radar, and would have to drop a hell of lot more, before I would be even remotely"anxious".     

Exflyboy

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Re: Race from $1M to $2M
« Reply #503 on: February 11, 2018, 11:50:52 AM »
@Holyoak Actually it almost WAS the end of the economy! I just hope we have learned something since then.. OK, of course we haven't, now we have VIX derivatives that have been bid up to insanely high levels and all have to come crashing down.

Thankfully this time it looks like these silly pieces of paper (laughingly called securities) have not been allowed to go on for too long before collapsing the the credit defaults did back in 2008.

Maybe thats why these corrections are considered healthy?

Its also interesting about emotional responses. The "loss aversion" where the bad feelings associated with a "loss" are far more powerful than then the happy feelings associated with the same sized "gain".

Like you I stuck with it during 2008, eventually went to a 100% stock (ETF) portfolio and near the bottom came up with cash I was finding under the cushions. Best thing I ever did. In fact most of my gains today are a result of that strategy.

Would I do that if the same thing happened today?.. Probably not as being RE'd now, one still has to eat..:).. And if you have already won the game there is no sense in betting the farm to get more.

Herbert Derp

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Re: Race from $1M to $2M
« Reply #504 on: February 28, 2018, 10:48:50 PM »
Doing monthly updates now. Looks like I just barely managed to post a gain for the month thanks to the market correction.

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48

talltexan

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Re: Race from $1M to $2M
« Reply #505 on: March 01, 2018, 09:31:58 AM »
pretty impressive increase of $600 K in two years, Herbert!

ozbeach

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Re: Race from $1M to $2M
« Reply #506 on: March 01, 2018, 12:21:46 PM »
I've just updated my numbers for the end of the month and managed to stay in this race by the skin of my teeth: $1,006,013  LNW :)

TempusFugit

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Re: Race from $1M to $2M
« Reply #507 on: March 01, 2018, 04:29:16 PM »
^  you're comfortably in compared to me.  I'm only $498.00 over the $1MM mark as of this morning.  I will do myself the favor of not recalculating it tonight.   

aspiringnomad

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Re: Race from $1M to $2M
« Reply #508 on: March 01, 2018, 05:30:36 PM »
^  you're comfortably in compared to me.  I'm only $498.00 over the $1MM mark as of this morning.  I will do myself the favor of not recalculating it tonight.

Sorry, your second comma has been revoked. ;)

Zoot

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Re: Race from $1M to $2M
« Reply #509 on: March 02, 2018, 09:17:43 AM »
First day of a new month--time for another update!  :)

MonthLiquidNet Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K
Feb-18$823K$1,087K

We paid the last of our installments ($7K) for the home renovations, and now will start saving for the next round (finishing the basement).  I upped the value of our home in our net worth calculations by a few thousand to account for the completion of the renovations.

The wild swings in the market affected the numbers, of course, but not horribly so.  Looks like we're off to another bumpy start here in March with the announcement of the increase in tariffs on aluminum and steel; should be fascinating to watch how that plays out.

Onward!

(posting also in the $500K to $1M thread for investment value)

couponvan

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Re: Race from $1M to $2M
« Reply #510 on: March 02, 2018, 09:41:08 AM »
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!

$1.54 as of 1/31/18
$1.53 as of 2/28/18

This is a 3 paycheck month and also a bonus month. Hoping March looks better for the markets. We're probably going to hit a standstill this year with a basement renovation and the college tuition gauntlet starting.

marty998

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Re: Race from $1M to $2M
« Reply #511 on: March 03, 2018, 09:08:12 PM »
I've stalled a bit too this year with the market gyrations. Haven't really progressed at all in the last two months.

Better than being down, but have been feeling like I'm a hamster spinning a wheel...

beeboy

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Re: Race from $1M to $2M
« Reply #512 on: March 05, 2018, 09:37:39 AM »
I've stalled a bit too this year with the market gyrations. Haven't really progressed at all in the last two months.

Better than being down, but have been feeling like I'm a hamster spinning a wheel...

I hear ya Marty. Especially after the past year where it felt like an express train chugging along nicely towards FIRE. Now, it seems more like a roller coaster or a local train that keeps going backwards and forwards. We just have to stay calm, remain on the train and hopefully it picks back up after a little while. I'm trying to decide when I may want to throw some extra into the markets (maybe when it hits 22,000/23,000), but they aren't behaving normally :0). Oh well, it was a great ride while it lasted.

webguy

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Re: Race from $1M to $2M
« Reply #513 on: March 08, 2018, 09:55:55 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!

It took a little longer than Iíd hoped due to the market being a douchebag lately but we Just hit 2 million today! Weíre officially multi-millionaires I guess! I crunched the numbers and I think our ďfat fireĒ number is around 2.5-3M so Iíll probably keep trucking away till we hit that, then Iím not sure what Iíll do.

couponvan

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Re: Race from $1M to $2M
« Reply #514 on: March 09, 2018, 12:18:51 PM »
Congratulations webguy!  I look forward to seeing you in the post-FIRE section!

PseudoStache

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Re: Race from $1M to $2M
« Reply #515 on: March 12, 2018, 04:14:48 PM »
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.

I can taste the Primary Residence $2MM Net worth!  Mint has us at $1.945MM today.
Without Primary: $1.720MM (ie. $225K Home Equity)

Last April I had Zillow doing my Primary valuation through Mint - Since then, I've decided to enter in my valuation manually and am holding it at a fairly conservative "Sell it NOW!" price...  If Zillow had it's way I'd be over the $2MM mark today.

Over the next 10 months, we are set to contribute another $40K - $50K to various accounts, so if we don't experience a correction, and end up just +1% from now till 12/31, I should hit the Primary Residence milestone this year!

montgomery212

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Re: Race from $1M to $2M
« Reply #516 on: March 14, 2018, 10:33:13 PM »
Got used to the steady incline where net worth could easily go up 5-10k in a day. Now itís 2 steps forward and one step back and the journey to the next 100k marker is painful.

Bateaux

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Re: Race from $1M to $2M
« Reply #517 on: March 15, 2018, 05:43:00 AM »
Got used to the steady incline where net worth could easily go up 5-10k in a day. Now itís 2 steps forward and one step back and the journey to the next 100k marker is painful.

I like it when the market doesn't make huge jumps.  Higher highs and higher lows excite me.

TempusFugit

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Re: Race from $1M to $2M
« Reply #518 on: March 15, 2018, 07:15:09 AM »
I can say that these wild swings every day are helping break my habit of checking balances very often.  By the time I look, it's changed again by significant amounts. 

Even with all the drama, the S&P is up almost 3% so far on the year.  If that keeps up and we have a 10-12% return on the year, I think that would be the bee's knees. 

itchyfeet

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Re: Race from $1M to $2M
« Reply #519 on: March 15, 2018, 09:30:41 AM »
I agree.

Since my NW started bouncing around more of late, I have stopped looking so much. Which is how it should be.

For the 20+ years before I came across the Concept of FIRE, in my search to find a way out of the 9-5, I rarely looked at my NW. In fact, my knowledge of my net worth was a bit grey and fuzzy to be honest. I had some general idea of what I was worth and that was enough.

But then I started tracking my pathway to FIRE and telling DW about every $5K rise. Itís a bit of a relief that some market volatility has steered my obsessions elsewhere. I know that over the loooong term it will rise and I am caring less and less what is going on each day or week.

I hope this trend continues. It was a bit silly working my outmy NW most weeks.

Megs193

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Re: Race from $1M to $2M
« Reply #520 on: March 20, 2018, 06:59:43 PM »
I'm new and would like to join!  I'm 34 and my husband is 38.  We don't have a solid plan of when we will retire because we both enjoy our jobs right now and don't want to leave them. I only work 1-2 days per week but he is still working FT.  As of today our NW is $1,198,693.75 without our home equity and 1,648,223.42 with it.
« Last Edit: March 20, 2018, 09:36:43 PM by Megs193 »

couponvan

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Re: Race from $1M to $2M
« Reply #521 on: March 20, 2018, 07:48:57 PM »
I'm new and would like to join!  I'm 34 and my husband is 38.  We don't have a so,I'd plan of when we will retire because we both enjoy our jobs right now and don't want to leave them. I only work 1-2 days per week but he is still working FT.  As of today our NW is $1,198,693.75 without our home equity and 1,648,223.42 with it.

Welcome Megs!  You're solidly in the race.

Bateaux

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Re: Race from $1M to $2M
« Reply #522 on: March 24, 2018, 03:19:22 AM »
Seem to have lost a Tesla again.   A Model X 90D.

itchyfeet

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Re: Race from $1M to $2M
« Reply #523 on: March 25, 2018, 07:32:40 AM »
Seem to have lost a Tesla again.   A Model X 90D.

Ouch

Bateaux

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Re: Race from $1M to $2M
« Reply #524 on: March 25, 2018, 09:21:00 AM »
Seem to have lost a Tesla again.   A Model X 90D.

Ouch

No big deal.  Planning to work till at least 2020 now building the war chest. 

Exflyboy

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Re: Race from $1M to $2M
« Reply #525 on: March 25, 2018, 01:01:51 PM »
Yup my 1.5 Teslas have left the garage again.... I hope they come back and bring their offspring..:)

montgomery212

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Re: Race from $1M to $2M
« Reply #526 on: March 25, 2018, 05:14:15 PM »
How much does a Model X 90D go for? Google says starting MSRP at $93,500. If that's the $ amount you're assuming for a Tesla, that's 0.45 Teslas out the door for me between retirement and the investment accounts. Ugh. Fingers crossed they come back and bring other cars with them.

Bateaux

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Re: Race from $1M to $2M
« Reply #527 on: March 25, 2018, 10:03:00 PM »
How much does a Model X 90D go for? Google says starting MSRP at $93,500. If that's the $ amount you're assuming for a Tesla, that's 0.45 Teslas out the door for me between retirement and the investment accounts. Ugh. Fingers crossed they come back and bring other cars with them.

I'd add a premium package and round my losses up to 100k, maybe a bit more.   Getting into 100D range

itchyfeet

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Re: Race from $1M to $2M
« Reply #528 on: March 26, 2018, 02:21:47 PM »
How much does a Model X 90D go for? Google says starting MSRP at $93,500. If that's the $ amount you're assuming for a Tesla, that's 0.45 Teslas out the door for me between retirement and the investment accounts. Ugh. Fingers crossed they come back and bring other cars with them.

I'd add a premium package and round my losses up to 100k, maybe a bit more.   Getting into 100D range

You got a 2nd hand base model back today 😁

DavidAnnArbor

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Re: Race from $1M to $2M
« Reply #529 on: March 28, 2018, 04:50:08 PM »
And then you lost it again.

Bateaux

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Re: Race from $1M to $2M
« Reply #530 on: March 28, 2018, 11:31:54 PM »
2019 is making my choice to push the FIRE date out an easy one.

aspiringnomad

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Re: Race from $1M to $2M
« Reply #531 on: March 29, 2018, 09:47:53 PM »
2019 is making my choice to push the FIRE date out an easy one.

Wait, what happens in 2019 and can I get a ride in the DeLorean?

couponvan

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Re: Race from $1M to $2M
« Reply #532 on: April 02, 2018, 06:12:14 AM »
2019 is making my choice to push the FIRE date out an easy one.

Wait, what happens in 2019 and can I get a ride in the DeLorean?

lol

I'm feeling the need to actually work the next year vs. quit now and let the DH continue working and spending. It's easier to quit when the market is going up than down....

Roboturner

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Re: Race from $1M to $2M
« Reply #533 on: April 02, 2018, 01:57:13 PM »
Q2 2016:
LNW: 528k
TNW: 720k

Q3 2016:
LNW: 652k
TNW: 845k

YE 2016:
LNW: 685k
TNW: 893k

Q1 2017:
LNW: 800k
TNW: 1001k

Q2 2017:
LNW: 845k
TNW: 1060k

Q3 2017:
LNW: 921k
TNW: 1142k

YE 2017:
LNW: 1,012k
TNW: 1,230k

Q1 2018:
LNW: 1.09 MM
TNW: 1.33 MM

What a roller-coaster, doing +/- 30k+ on any given day is exhilarating :/ (TRADE WARRRRRRRRRRRRR)

ozbeach

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Re: Race from $1M to $2M
« Reply #534 on: April 02, 2018, 02:26:22 PM »
I've just updated my numbers for the end of the month and managed to stay in this race by the skin of my teeth: $1,006,013  LNW :)

Down, but not out -- still hanging on at the end of March with LNW = $1,001,005, and that's after pumping $6K into retirement accounts this month.

Last day at work tomorrow :)

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #535 on: April 02, 2018, 04:11:54 PM »
I welcome these up and down swings in the market.  I figure as long as I keep contributing to my investments as I've done for the past 18 years this volatility is going to leave me in a stronger financial position when I RE in 17 months.

itchyfeet

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Re: Race from $1M to $2M
« Reply #536 on: April 03, 2018, 10:40:07 AM »
I welcome these up and down swings in the market.  I figure as long as I keep contributing to my investments as I've done for the past 18 years this volatility is going to leave me in a stronger financial position when I RE in 17 months.

I keep giving myself similar pep talks too..... But, I canít help but get a little frustrated busting my a$$ shovelling into a leaky bucket, where it feels that no matter how fast i shovel the leaks are draining my bucket even faster.

Of course last year I was also shovelling really hard, but the heavens were raining down so hard on my bucket that the rain was filling my bucket even faster than my shovelling was filling it.

dougules

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Re: Race from $1M to $2M
« Reply #537 on: April 03, 2018, 10:56:34 AM »
I welcome these up and down swings in the market.  I figure as long as I keep contributing to my investments as I've done for the past 18 years this volatility is going to leave me in a stronger financial position when I RE in 17 months.

I keep giving myself similar pep talks too..... But, I canít help but get a little frustrated busting my a$$ shovelling into a leaky bucket, where it feels that no matter how fast i shovel the leaks are draining my bucket even faster.

Of course last year I was also shovelling really hard, but the heavens were raining down so hard on my bucket that the rain was filling my bucket even faster than my shovelling was filling it.

You need a new metaphor.  As soon as you buy you no longer have money.  It's equity, so if you don't sell anything you haven't lost anything.  You still have exactly the same number of shares, and the $ number is just imaginary.  The bucket analogy doesn't work. 

Instead you can get excited about shares going on sale.  If gas went down to $1/gallon would you get upset that the gas sitting in the tank of your car is worth less?  No!  You'd go top it off. 

texxan1

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Re: Race from $1M to $2M
« Reply #538 on: April 03, 2018, 11:36:39 AM »
Hold on and go for the RIDE!!!!!!!!!!!!!!!

I'm sitting at
655k in 401k  (taken a beating lately but still smiling)
590k in Vanguard (after tax)   ( will be happy when market goes up, but ive got plenty of time)
350k lump sum pension I will receive in 3 years time.. .My fire date is jan 2021

I hope to hit the 2mil mark by the fire date I want.. But if I'm close, it wont matter

Currently dumping 20k a month into my vanguard account and 2900 in 401k plus a company match of 7percent on gross.

So looks like as long as nothing catastrophic happens, I will be at 2.2 by the time my fire date hits.

Holding back on selling my home, as its paid for and has renters in it now.. I'm living of the rental income at the moment.....

total bills right now are less than 1k a month (living in Thailand) and my spending ranges each month... even though I'm not spending much, I'm still trying to cut spending lol

FIRE HERE I COME


TempusFugit

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Re: Race from $1M to $2M
« Reply #539 on: April 03, 2018, 04:39:53 PM »
I welcome these up and down swings in the market.  I figure as long as I keep contributing to my investments as I've done for the past 18 years this volatility is going to leave me in a stronger financial position when I RE in 17 months.

I keep giving myself similar pep talks too..... But, I canít help but get a little frustrated busting my a$$ shovelling into a leaky bucket, where it feels that no matter how fast i shovel the leaks are draining my bucket even faster.

Of course last year I was also shovelling really hard, but the heavens were raining down so hard on my bucket that the rain was filling my bucket even faster than my shovelling was filling it.

You need a new metaphor.  As soon as you buy you no longer have money.  It's equity, so if you don't sell anything you haven't lost anything.  You still have exactly the same number of shares, and the $ number is just imaginary.  The bucket analogy doesn't work. 

Instead you can get excited about shares going on sale.  If gas went down to $1/gallon would you get upset that the gas sitting in the tank of your car is worth less?  No!  You'd go top it off.

I read a good analogy that Warren Buffett used somewhere, in which he compared stock ownership to owning a bunch of chickens, which you purchased for the eggs (dividends).  The stock price is more akin to your weird neighbor yelling over the fence how much he thinks your chickens are worth, and it changes every day.  You shouldn't really care what he thinks your chickens are worth because you're not selling them, so long as they keep laying eggs.  And when chickens are cheap, you maybe buy some more.

Exflyboy

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Re: Race from $1M to $2M
« Reply #540 on: April 03, 2018, 11:28:19 PM »
Hold on and go for the RIDE!!!!!!!!!!!!!!!

I'm sitting at
655k in 401k  (taken a beating lately but still smiling)
590k in Vanguard (after tax)   ( will be happy when market goes up, but ive got plenty of time)
350k lump sum pension I will receive in 3 years time.. .My fire date is jan 2021

I hope to hit the 2mil mark by the fire date I want.. But if I'm close, it wont matter

Currently dumping 20k a month into my vanguard account and 2900 in 401k plus a company match of 7percent on gross.

So looks like as long as nothing catastrophic happens, I will be at 2.2 by the time my fire date hits.

Holding back on selling my home, as its paid for and has renters in it now.. I'm living of the rental income at the moment.....

total bills right now are less than 1k a month (living in Thailand) and my spending ranges each month... even though I'm not spending much, I'm still trying to cut spending lol

FIRE HERE I COME

You're saving $23,000 a month?.. What do you for a living.. Rob banks?.:)

texxan1

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Re: Race from $1M to $2M
« Reply #541 on: April 04, 2018, 11:49:18 AM »
LOL No bank robber here

Oil and Gas construction...



Dicey

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Re: Race from $1M to $2M
« Reply #542 on: April 04, 2018, 12:30:06 PM »
Holy shit!

Zoot

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Re: Race from $1M to $2M
« Reply #543 on: April 04, 2018, 02:37:27 PM »
First day of a new month--time for another update!  :)

MonthLiquidNet Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K
Feb-18$823K$1,083K
Mar-18$812K$1,081K

Another rough month; overall net worth was boosted by the addition of the $5K to the value of our house in our balance sheet, and we made our usual retirement account contributions and accrued the usual company match, but still pretty brutal.  Still, NW is up roughly 16% over this time last year; I'll take it!

Onward!

(posting also in the $500K to $1M thread for account balance)

talltexan

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Re: Race from $1M to $2M
« Reply #544 on: April 06, 2018, 07:02:09 AM »
Since we're all millionaires here, I figure I can share another milestone that I didn't expect to pass: 2017 is the first year in which my wife and I are not allowed to make direct contributions to Roth IRA's (our income is too high).

My wife is setting up a backdoor Roth.

I faxed paperwork in to convert all my contributions to 2018 contributions. (capital gains distributions were what put us too high, and I do not expect those to repeat this year)

If we wind up too high again in 2018, I'll just take it out and pay down some debt. Probably what I should have been doing anyway.

Car Jack

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Re: Race from $1M to $2M
« Reply #545 on: April 06, 2018, 07:52:04 AM »
We got into the phaseout zone for Roth, which was a pain in the neck.  Figured it out with taxes.  Had to pull out "excess contributions" for 2017 which means that we'll be taxed on the gains as if they were in a brokerage account.  I won't complain.....the reason we made so much was because of my employer's stock flying way up.  It is fun to get about $60k extra money, but having to undo Roth wasn't fun.  For 2018, we'll wait till our taxes are complete before putting in dime one.

talltexan

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Re: Race from $1M to $2M
« Reply #546 on: April 09, 2018, 07:21:13 AM »
I know there is not a lot of love for American Funds on this site. (they are the custodians of my Roth)

Within eight hours of my faxing the "excess contributions" form to them, they had reflected the changes in my online account. All those extra fees must pay for something 8-)

But--thinking about how to manage Roth contributions in the phase-out zone, I think I would take the "lump sum at the start of the year" approach:

Step 1: contribute $5,500 on Jan 1; these are 2018 contributions made on 1/1/2018
Step 2: start setting aside 2019 contributions into a separate savings account, $458.33 each month.
Step 3: Now it's Feb 2019: I am doing my taxes for 2018 and know what my AGI will be...this allows me to roll any excess contributions from 2018 forward to 2019 (the nice thing is that you can also do an annual rebalance within your Roth at this time)
Step 4: I can fill out my 2019 contributions up to $5,500 from what I was saving monthly
Step 5: re-adjust monthly set aside for Roth based on what's left

Gosh, this still looks like a pain. But it's really only making one Roth contribution per year, which sounds a lot simpler than the 17 I made for tax year 2017 ;-)

LindseyS

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Re: Race from $1M to $2M
« Reply #547 on: April 12, 2018, 12:11:16 PM »
I am mainly a lurker here at MMM, but I have been waiting for the day when I can post on this thread!  Our official networth is finally upwards of $1M at $1,003,225.49.   I am so proud of myself for making the decision to turn mine and my husbands financial lives around.  Strangely enough, the book that started me on this journey was Smart Money, Smart Kids by Dave Ramsey and his daughter.  I have no idea how long it will take us to reach $2M - my husband is a high income earner, but I am not, so it will most likely be years and years.  I am just so happy and feel so lucky to be here though!

couponvan

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Re: Race from $1M to $2M
« Reply #548 on: April 12, 2018, 12:14:11 PM »
I am mainly a lurker here at MMM, but I have been waiting for the day when I can post on this thread!  Our official networth is finally upwards of $1M at $1,003,225.49.   I am so proud of myself for making the decision to turn mine and my husbands financial lives around.  Strangely enough, the book that started me on this journey was Smart Money, Smart Kids by Dave Ramsey and his daughter.  I have no idea how long it will take us to reach $2M - my husband is a high income earner, but I am not, so it will most likely be years and years.  I am just so happy and feel so lucky to be here though!

Barring a major stock market correction, I predict you will cross the finish line of this race in under 7 years.

markbike528CBX

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Re: Race from $1M to $2M
« Reply #549 on: April 12, 2018, 03:14:11 PM »
I am mainly a lurker here at MMM, but I have been waiting for the day when I can post on this thread!  Our official networth is finally upwards of $1M at $1,003,225.49.   I am so proud of myself for making the decision to turn mine and my husbands financial lives around.  Strangely enough, the book that started me on this journey was Smart Money, Smart Kids by Dave Ramsey and his daughter.  I have no idea how long it will take us to reach $2M - my husband is a high income earner, but I am not, so it will most likely be years and years.  I am just so happy and feel so lucky to be here though!

Awesome LindseyS !   
Just remember, you can only leave this thread in the upward direction (race 2M+ etc), even if there is a market correction/crash.    A major Antimustachian move will be forgiven if you repent and rejoin us :-).