Author Topic: Race from $1M to $2M  (Read 71598 times)

LindseyS

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Re: Race from $1M to $2M
« Reply #550 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 #551 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.
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




markbike528CBX

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Re: Race from $1M to $2M
« Reply #552 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 :-).

dougules

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Re: Race from $1M to $2M
« Reply #553 on: April 12, 2018, 03:45:55 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 :-).

You would likely get there in a decade-ish even if you didn't put in another dime. 

CanuckExpat

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Re: Race from $1M to $2M
« Reply #554 on: April 13, 2018, 08:46:10 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...

At $1.36M  at end of 2017
NW increase of almost $180k without jobs. I'll take that for markets doing their magic

Still approximately at $1.36M  at end of Q1 2017*. Down a little bit, but it's lost in the rounding error. That run up couldn't have lasted for ever, but given the previous years gains, I'll take it. We'll see how we keep doing without jobs.

*Being retired, not contributing anymore, and busy with travel and life, I am not being as good about updating our financials at regular intervals, so that Q1 is approximate. I was lazy and missed the end of the month/quarter.

talltexan

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Re: Race from $1M to $2M
« Reply #555 on: April 17, 2018, 09:58:28 AM »
Markets are having a big day today, but still more than 5% off their all-time highs (meaning there's time to get in).

couponvan

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Re: Race from $1M to $2M
« Reply #556 on: April 17, 2018, 10:52:45 AM »
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!
I guess I should be a bit more precise with my numbers....

12/31/17 - $1,518,400
03/31/18 - $1,578,900

Increase between 12/31 and 3/31 was mainly bonus related. The markets are wiggly this year.
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




Dicey

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Re: Race from $1M to $2M
« Reply #557 on: April 18, 2018, 01:54:33 AM »
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!
I guess I should be a bit more precise with my numbers....

12/31/17 - $1,518,400
03/31/18 - $1,578,900

Increase between 12/31 and 3/31 was mainly bonus related. The markets are wiggly this year.
Wow! That's a good-looking bonus!
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...

couponvan

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Re: Race from $1M to $2M
« Reply #558 on: April 18, 2018, 07:42:55 AM »
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!
I guess I should be a bit more precise with my numbers....

12/31/17 - $1,518,400
03/31/18 - $1,578,900

Increase between 12/31 and 3/31 was mainly bonus related. The markets are wiggly this year.
Wow! That's a good-looking bonus!

Yeah - DH's bonus is up to 45% of his compensation for the year (in great years it can be 65%). It was a bad year this year, so the # was actually lower than in the past.  It's a big part of how we plan for FIRE - save the bonus, live on the lower salary.  It's also why he risks getting fired right before bonus payout days....
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




Jenny1974

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Re: Race from $1M to $2M
« Reply #559 on: April 18, 2018, 08:07:13 AM »
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??


couponvan

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Re: Race from $1M to $2M
« Reply #560 on: April 18, 2018, 08:25:57 AM »
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Congrats!! You stay in the thread until you feel you've really reached the finish line.  :-).  Does $2MM feel more exciting than $1MM?
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




Bateaux

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Re: Race from $1M to $2M
« Reply #561 on: April 18, 2018, 11:13:16 AM »
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Congrats!! You stay in the thread until you feel you've really reached the finish line.  :-).  Does $2MM feel more exciting than $1MM?

We just tipped over the 2M liquid point a couple of months ago.   It's retracted a few times.  Personally I'm ready to put that milestone behind and move forward.  The 2M point is pretty much what I'm planning to benchmark as the low watermark for FIRE.   The goal is 2.5M then retire.  However, any dips below 2M would immediately call for emergency spending only measures and possibly job hunting.  Currently home shopping in Florida right now and will budget 300k to 400k for that.  That will have us working a two to five more years to pay down that debt.  Not sure what we do with current paid off home and property.  Selling it could bring 250k maybe more and would help offset the new home and work less years.  May just give it to our kids.  Time will tell.  By the way, the 1M mark excited me briefly.  Then realized that would barely pay for health care, the excitement faded.
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Jenny1974

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Re: Race from $1M to $2M
« Reply #562 on: April 18, 2018, 11:35:38 AM »
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Congrats!! You stay in the thread until you feel you've really reached the finish line.  :-).  Does $2MM feel more exciting than $1MM?

More like a "well, that's pretty cool" moment!

couponvan

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Re: Race from $1M to $2M
« Reply #563 on: April 18, 2018, 12:02:22 PM »
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Congrats!! You stay in the thread until you feel you've really reached the finish line.  :-).  Does $2MM feel more exciting than $1MM?

More like a "well, that's pretty cool" moment!

I'm with @Bateaux that I want $2.0M plus a paid off house ($400K-$500K ish range) and I have to have "crossed" that line for sure before I'm comfortable pulling back.  It's super cool you've hit that # even if it didn't stick.  I've got plenty of time in this race left before I get to where I'm aiming.
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




ysette9

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Re: Race from $1M to $2M
« Reply #564 on: April 19, 2018, 02:33:38 PM »
This thread made me pull up some stuff and do some arithmetic. I just realized that if you include home equity (which I don’t), then we crossed over the $2M mark recently. Since home equity doesn’t pay my bills, i don’t include it, but at least we can unequivocally say now that we are millionaires. :) Previously it wasn’t certain since you could argue that with two people, the individual net worth is half of the total household net work.

It is embarrassing to be on this forum, report those numbers, and not be FI. HCOL for the win!
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