Author Topic: Race from $1M to $2M  (Read 157916 times)

beeboy

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Re: Race from $1M to $2M
« Reply #850 on: May 21, 2019, 01:44:35 PM »
Hello all.

It was recommended to me from Couponvan that I join this thread. I'm currently at about 1.4 mil in invested assets (a mix of a brokerage account, annuity, REIT, 401K, cash and savings). Much of my gains lately have been thanks to the unbelievable stock market and I'm hoping to hit 2 mil within four years at which point I'll consider myself FIRE-D at 48 (I'm currently 44). Happy to be here and add to the discussion or answer any questions.

Hi everyone. I thought I'd check back in and provide an update on my finances. Currently at around 1.7 mil in invested assets (about 2.0 mil NW, but I'm not counting my home in this calculation, so I'm staying in this 1M - 2M group). Most of the extra 300K since Jan. 2018 has come via market returns, and additional savings (including 100K from the partial sale of part of the business I have a stake in). My current assets breakdown is approx.:

-Morgan Stanley Brokerage Acct. - 850K
-Fidelity Acct. (cash and ETFs) - 30K
-401k - 535K
-CDs - 200K
-Savings - 65K
-Checking - 20K

In addition, I've moved my FIRE date up to March/April 2020 (or sooner, can't take the rat race anymore), lowered my FIRE age to 46 (I'm currently 45) and I've lowered my desired FIRE stash to 1.8 mil. (or whatever I have in 10 or 11 months from now). Anyway, I hope everyone is well on their way to their goal and making good progress towards freedom!

Bird In Hand

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Re: Race from $1M to $2M
« Reply #851 on: June 05, 2019, 12:18:41 PM »
We're pretty much flat over the last ~12 months.  LNW is up around 6%, mostly due to pre-tax contributions.  We've been oscillating around $1.4M for most of the last year.  TNW is up just a bit more than LNW due to the dwindling mortgage.

Herbert Derp

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Re: Race from $1M to $2M
« Reply #852 on: June 10, 2019, 09:54:33 PM »
Making some progress again, hopefully I can hit the $1.5MM mark soon! After that, it's all downhill from there! Well at least until the recession kicks in, then it'll be a different kind of downhill lol

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
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50

SparkyPeanut

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Re: Race from $1M to $2M
« Reply #853 on: June 12, 2019, 07:29:39 PM »
Making some progress again, hopefully I can hit the $1.5MM mark soon! After that, it's all downhill from there! Well at least until the recession kicks in, then it'll be a different kind of downhill lol

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
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50

That's amazing progress!  How did you accomplish this at such a young age - are you a very high earner, hardcore saver or expert investor...?

Bateaux

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Re: Race from $1M to $2M
« Reply #854 on: June 13, 2019, 02:55:25 AM »
Making some progress again, hopefully I can hit the $1.5MM mark soon! After that, it's all downhill from there! Well at least until the recession kicks in, then it'll be a different kind of downhill lol

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
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50

That's amazing progress!  How did you accomplish this at such a young age - are you a very high earner, hardcore saver or expert investor...?

I'm thinking he's a preacher at a mega-church.

arebelspy

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Re: Race from $1M to $2M
« Reply #855 on: June 13, 2019, 08:37:32 AM »

That's amazing progress!  How did you accomplish this at such a young age - are you a very high earner, hardcore saver or expert investor...?

He was spending in the realm of 5-7k/yr for most of those years, while making a good salary. Check out his journal for more details.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

tipster350

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Re: Race from $1M to $2M
« Reply #856 on: June 13, 2019, 08:37:53 AM »
His parents buy his underwear and socks.

Bateaux

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Re: Race from $1M to $2M
« Reply #857 on: June 13, 2019, 08:48:38 AM »
Cheering him on to the next thread.  He'll be there and passing us soon!

beeboy

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Re: Race from $1M to $2M
« Reply #858 on: June 19, 2019, 01:53:12 PM »
The last few days have been really good in the market. I was a good amount below 1.7 mil (which was where I was at when I first posted here about a month ago), but now at about 1.715 mil at market close. I hope everyone here has been pushing closer (or even getting a little over) the 2 mil mark!

cloudsail

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Re: Race from $1M to $2M
« Reply #859 on: June 19, 2019, 03:28:48 PM »
Yep, I'm at 1.87M now, hoping to reach 2M soon!

TempusFugit

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Re: Race from $1M to $2M
« Reply #860 on: June 19, 2019, 04:17:26 PM »
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.


Phew!  I can finally leave the vestibule and come in to hang out by the champagne and caviar : )

The recent uptick has pushed my LNW into double commas.  No going back now!*

I have saved a Cuban cigar that a coworker gave me about a year ago that I plan to light up while enjoying an Old Fashioned cocktail. 

* I dont plan to check account balances anytime soon.  No upside to that in the near future. 

cloudsail

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Re: Race from $1M to $2M
« Reply #861 on: June 19, 2019, 04:30:50 PM »
What does LNW stand for?

arebelspy

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Re: Race from $1M to $2M
« Reply #862 on: June 19, 2019, 04:38:34 PM »
Liquid net worth, I'd guess (versus total net worth).
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

cloudsail

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Re: Race from $1M to $2M
« Reply #863 on: June 19, 2019, 04:48:24 PM »
Liquid net worth, I'd guess (versus total net worth).

Ah, makes sense now, thanks.

Yes, that's what I'm tracking too, not including real estate. We have two rental properties, not planning to acquire any more.

TempusFugit

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Re: Race from $1M to $2M
« Reply #864 on: June 19, 2019, 05:01:01 PM »
Liquid net worth, I'd guess (versus total net worth).

Ah, makes sense now, thanks.

Yes, that's what I'm tracking too, not including real estate. We have two rental properties, not planning to acquire any more.

Yep, liquid net worth, since that is the number i use for calculating safe withdrawal rate during my eventual retirement.  I don't own any rental properties, just my primary residence.   

beeboy

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Re: Race from $1M to $2M
« Reply #865 on: June 20, 2019, 09:10:13 AM »
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.


Phew!  I can finally leave the vestibule and come in to hang out by the champagne and caviar : )

The recent uptick has pushed my LNW into double commas.  No going back now!*

I have saved a Cuban cigar that a coworker gave me about a year ago that I plan to light up while enjoying an Old Fashioned cocktail. 

* I dont plan to check account balances anytime soon.  No upside to that in the near future.

Congrats! That's the big one - reaching millionaire status (even though they say 1 million isn't what it used to be) is still an amazing feat and definitely worth celebrating. It's that big number (omg - that person's a millionaire!) that seemed like such a huge deal when you were a kid and an unreachable goal during your first years of working. It's crazy that by saving diligently year after year and making investments in the market, it's a goal that is attainable for so many. Even with making financial mistakes - and I've made more than a few.

BTW - you may want to look at your account balances again today. I'm up to 1.722 mil (11k higher than just yesterday). The market is really crazy and a little scary right now. It can't keep going up forever so I'll have to prepare myself to be significantly down at some point, but you should enjoy days/weeks like this.