Author Topic: Race from $1M to $2M  (Read 532261 times)

StackOfCoins.com (Jay)

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Race from $1M to $2M
« on: August 23, 2016, 02:00:22 AM »
Enjoyed reading the other race threads!

I am 39yr old, married.  I work in technology operations, wife works in education.

Numbers below exclude current residence.

April 2015 - hit $1M (yay! big milestone for us :)
August 2016 - $1.2M

Happy investing!
« Last Edit: August 23, 2016, 02:02:26 AM by bluerunner »

TheAnonOne

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Re: Race from $1M to $2M
« Reply #1 on: August 23, 2016, 09:18:28 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...)

MishMash

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Re: Race from $1M to $2M
« Reply #2 on: August 23, 2016, 11:32:47 AM »
I'll join in too, our number is 2 million (not including DHs pension).  Stupid high for this forum, I know, DH still isn't 100% on the frugality thing, and we plan on living in a HCOL area.  DH also has to do 5 more years to secure the lifelong health care and pension sooo why not continue to build the stash.

33 (me) and 36 (DH) here TNW 1.34 Investable 1.21

And before anyone asks, we don't include DHs pension in the calculations because if he gets booted prior to his 20 year mark he gets zip, nada, nilch.  So until he hits that 20 year mark we have chosen to not include it in NW or income calculations since it is not a sure thing.

StackOfCoins.com (Jay)

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Re: Race from $1M to $2M
« Reply #3 on: August 24, 2016, 12:13:26 AM »
It's fun to support & encourage one another on this journey.

@TheAnonOne Good to know.  I'm curious if there is better forum for this race?  You will join us soon enough, especially if this market keeps grinding higher & higher!

@Mishmash Thanks for joining & sharing your progress!

OurTown

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Re: Race from $1M to $2M
« Reply #4 on: August 24, 2016, 07:57:14 AM »
Good luck to these participants!  Before anyone gets all self righteous, a 4% SWR on $2 million is only $80,000 per year. 

FWIW I think my magic number will be a modest $1.25 million.

TheAnonOne

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Re: Race from $1M to $2M
« Reply #5 on: August 24, 2016, 10:07:13 AM »
It's fun to support & encourage one another on this journey.

@TheAnonOne Good to know.  I'm curious if there is better forum for this race?  You will join us soon enough, especially if this market keeps grinding higher & higher!

@Mishmash Thanks for joining & sharing your progress!

Nope, I think this forum is the perfect spot. Just my thoughts on the matter. For a lot of people here it might as well be the "Race from 10 million to 1 billion"

Like I said though, I will be in this high 1-2 zone in another 6-10 years, so it's technically a race for me, but one I can't join yet!

boarder42

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Re: Race from $1M to $2M
« Reply #6 on: August 24, 2016, 10:18:32 AM »
this is the right place.  my number is around 2MM we spend around 50-60k plus our mortgage.  but we wont hit 1MM til 2020 so it will be awhile before we're here.

chesebert

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Re: Race from $1M to $2M
« Reply #7 on: August 24, 2016, 10:24:06 AM »
Good luck to these participants!  Before anyone gets all self righteous, a 4% SWR on $2 million is only $80,000 per year. 

FWIW I think my magic number will be a modest $1.25 million.

I completely understand how hard it is to live on $80k a year. Just yesterday, I had a friend showing me $400k is barely enough in his neck of the woods. Why stop at $2M when you can march onto $8-10M, you are almost halfway there already!
« Last Edit: August 24, 2016, 10:39:58 AM by chesebert »

RetirementDreaming

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Re: Race from $1M to $2M
« Reply #8 on: August 24, 2016, 10:29:55 AM »
I'll join.  2M is higher than I expect to go.  Our FIRE number is 1.6M (investable assets) but who knows 2M may be possible.  I'll be under 50 when I retire and might go a year or so more.  After 20 years with my employer I just can't think I'll walk away.  I want some sort of package or lay me off so I can collect unemployment for 6 months.  Either one of those options is likely but I need the timing to work out.  We are at 985K today.  I was hoping to hit 1M by the end of August but looks like I will fall short.

rahby1us

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Re: Race from $1M to $2M
« Reply #9 on: August 24, 2016, 02:44:28 PM »
1.47M invested
74 cash

Plan is to FIRE at the end of Jan, if the market doesn't move either way, with a 3.26% WR. Should be able to continue contributing until then, but hoping the market doesn't peak within 6 months before or after bon voyage!

boarder42

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Re: Race from $1M to $2M
« Reply #10 on: August 24, 2016, 02:57:11 PM »
1.47M invested
74 cash

Plan is to FIRE at the end of Jan, if the market doesn't move either way, with a 3.26% WR. Should be able to continue contributing until then, but hoping the market doesn't peak within 6 months before or after bon voyage!

3.26% SWR is ultra safe with the current Shiller PE ratio you'll be fine regardless of whether or not it peaks then. sitting around a 3.7 right now

marty998

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Re: Race from $1M to $2M
« Reply #11 on: August 24, 2016, 04:17:23 PM »
I may be joining this race at the end of next year if all goes well. How long will it take after that? Perhaps 6 more years assuming current trajectory.

It's hard to predict compounding.

webguy

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Re: Race from $1M to $2M
« Reply #12 on: August 24, 2016, 07:53:54 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.

dogboyslim

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Re: Race from $1M to $2M
« Reply #13 on: August 26, 2016, 09:52:29 AM »
Our number is 2.5M liquid (currently at 1.3 tax sheltered).  I track debt reduction and contributions rather than net worth at this point since swings in the market dominate any changes in my net worth.  One month I did a great job of contributing, doubling the normal contribution, but my net worth dropped $62k due to market declines.  The next month I did terribly but my net worth made back all that loss and then some.  So I don't mean to put a downer on your goal here, but do realize that unless your income is REALLY high, your month to month changes will be subject more to the market whims than to responsible behavior.

(I'm assuming an invested asset base rather than a RE asset base here.  I don't know enough about RE to comment.)

Bateaux

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Re: Race from $1M to $2M
« Reply #14 on: August 27, 2016, 08:58:36 PM »
Approaching 1.5M plus real estate.   Goal is 2M going to FIRE by 50 so no later than Spring 2019.  Hopefully no later than 2018.

Goldy

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Re: Race from $1M to $2M
« Reply #15 on: August 30, 2016, 06:26:17 AM »
We are approaching 1.2M Net Worth with 1.05 invested.  Our goal has always been 2.4M but I have recently started to realize that we spend way less than 100k per year that I was budgeting for so our number may be significantly less than 2.4, maybe closer to the mid 1's 

Its amazing how fast the NW number can grow with a firehose of 10k/mo going to investments and now that my invested portion has some size to it the market gains can be really fun to watch. 

My goal is to retire by the time we are 40 in 8 years and barring some finacial disaster I think we are in good shape to hit that.

markbike528CBX

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Re: Race from $1M to $2M
« Reply #16 on: August 30, 2016, 07:19:25 AM »
.....now that my invested portion has some size to it the market gains can be really fun to watch.  .....

Also "fun" to watch drop, in a roller coaster sort of way.   The key is to joyfully anticipating the bottom for juicy buying opportunities, instead of feeling the paper losses.

Us, 1.7M, goal of 2M as "enough".   

Another goal is to withdraw/spend ~70k and pay no taxes for a year.

muckety_muck

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Re: Race from $1M to $2M
« Reply #17 on: September 01, 2016, 03:21:10 PM »
We just passed $1M for the first time this month, and plan to work another 5-6 years based on our vested retirement balances, healthcare at current jobs continuing in retirement, etc. so we're not really trying to hit $2M necessarily, but it likely the number we will be very close to mid-2022 when we plan to FIRE.

Count us in! :)

Fomerly known as something

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Re: Race from $1M to $2M
« Reply #18 on: October 26, 2016, 06:29:23 PM »
I'll join as well. 

I'm just under 1.1 million right now and will likely reach 2 million if I continue to my full retirement age for my Pension and reduced Health Care for Life.  There is a chance that I'll say f* that if I feel that I can live the like I want to before that though.

ETA:  even though I'm vested I don't pay attention to my pension other than to calculate how much I am eligible for.  I don't count it as part of my net worth at this time.
« Last Edit: October 26, 2016, 06:31:22 PM by neverrun »

Koogie

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Re: Race from $1M to $2M
« Reply #19 on: October 26, 2016, 06:45:20 PM »
Hit 7 figs in August 2008.  Took 6 years to go from approx.  -200k to there.   
Semi retired in September 2015.
Currently at 1.95 and holding, holding, holding.  Hoping to hit 2.0 in May 2018 and retire at 45.


p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.

marty998

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Re: Race from $1M to $2M
« Reply #20 on: October 27, 2016, 01:21:54 AM »
Hit 7 figs in August 2008.  Took 6 years to go from approx.  -200k to there.   
Semi retired in September 2015.
Currently at 1.95 and holding, holding, holding.  Hoping to hit 2.0 in May 2018 and retire at 45.


p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.

Are you ok? Anger won't solve this. Let it go... you can't argue with the internet.

How did you get from -200 to +1000 in 6 years? Thats a big gain. Also... why do you think it will take 18 months to get the remaining 50k from 1.95 to 2.00?

boarder42

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Re: Race from $1M to $2M
« Reply #21 on: October 27, 2016, 05:42:25 AM »
Hit 7 figs in August 2008.  Took 6 years to go from approx.  -200k to there.   
Semi retired in September 2015.
Currently at 1.95 and holding, holding, holding.  Hoping to hit 2.0 in May 2018 and retire at 45.


p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.

Are you ok? Anger won't solve this. Let it go... you can't argue with the internet.

How did you get from -200 to +1000 in 6 years? Thats a big gain. Also... why do you think it will take 18 months to get the remaining 50k from 1.95 to 2.00?

my guess would be when he semi retired he dropped down to just working to sustain his lifestyle and let his stash grow.  though that is projecting super conservative market gains over the next 18 months.

Koogie

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Re: Race from $1M to $2M
« Reply #22 on: October 27, 2016, 10:50:07 AM »
Are you ok? Anger won't solve this. Let it go... you can't argue with the internet.
How did you get from -200 to +1000 in 6 years? Thats a big gain. Also... why do you think it will take 18 months to get the remaining 50k from 1.95 to 2.00?

Not particularly angry but you are right. Let morons be morons.. :o)

That is the time when I started my business (2003).  Man, those years were roaring and we were making money hand over fist.  But of course the recession ended that party.   
It probably won't take 18 mos. to make that next 50K but I prefer to be conservative in my plans.  Avoids disappointment... :o)

Koogie

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Re: Race from $1M to $2M
« Reply #23 on: October 27, 2016, 10:51:47 AM »
my guess would be when he semi retired he dropped down to just working to sustain his lifestyle and let his stash grow.  though that is projecting super conservative market gains over the next 18 months.

Right on the nose.  We are also drawing a bit from the dividend stream to supplement the "salary" so that slows down growth a bit as well.

oldtoyota

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Re: Race from $1M to $2M
« Reply #24 on: October 28, 2016, 01:21:34 PM »

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


This leads me to wonder if people who are done with $750K have income from real estate and/or pensions? I do not have a pension and would not feel comfortable retiring with only $750K. That's why I ask.


Metric Mouse

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Re: Race from $1M to $2M
« Reply #25 on: November 01, 2016, 01:28:46 AM »

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


This leads me to wonder if people who are done with $750K have income from real estate and/or pensions? I do not have a pension and would not feel comfortable retiring with only $750K. That's why I ask.

No pension or RE for me. (Besides primary residence.)

Libertea

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Re: Race from $1M to $2M
« Reply #26 on: November 01, 2016, 06:46:30 AM »
p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.
Besides the fact that it's rude to judge others on their goals, those who think $2 million is way more than they'd ever need to save for retirement also ought to take into account the effect of inflation.   It's all well and good to want to retire on $750k in current dollars.  But if you're in your 30s or even your 40s at FIRE, you could easily have a 50-60 year retirement life expectancy.  Over that time, your $750k will need to become much greater as your money becomes worth less.  In fact, you would likely need to exceed the $1 million mark within a decade or so after FIRE, depending on what you assume for a rate of inflation.

My goal for FI is $800k in 2015 dollars, and I am assuming a 3.5% inflation rate.  This means that I will need to have accumulated $1 million in 2022, and $2 million within about 27 years.  Since I'm only 41 now, yes, I intend to live long enough to need to accumulate $2 million.  And I won't even be collecting SS yet when I do!

chesebert

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Re: Race from $1M to $2M
« Reply #27 on: November 01, 2016, 06:26:44 PM »
Where do I sign up for race to 10 million?

Metric Mouse

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Re: Race from $1M to $2M
« Reply #28 on: November 01, 2016, 07:57:57 PM »
p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.
Besides the fact that it's rude to judge others on their goals, those who think $2 million is way more than they'd ever need to save for retirement also ought to take into account the effect of inflation.   It's all well and good to want to retire on $750k in current dollars.  But if you're in your 30s or even your 40s at FIRE, you could easily have a 50-60 year retirement life expectancy.  Over that time, your $750k will need to become much greater as your money becomes worth less.  In fact, you would likely need to exceed the $1 million mark within a decade or so after FIRE, depending on what you assume for a rate of inflation.

I'm pretty sure the 4% rule covers this. So that's one less worry.

ysette9

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Re: Race from $1M to $2M
« Reply #29 on: November 01, 2016, 08:44:12 PM »
Quote
Besides the fact that it's rude to judge others on their goals, those who think $2 million is way more than they'd ever need to save for retirement also ought to take into account the effect of inflation.

Yes, as another poster hinted at, the math on this doesn't add up at all unless you are keeping your $750K in cash under your mattress. Keep it invested in a reasonable asset allocation with at least 50% equities and you should more than keep up with inflation. Read the sticky thread on why you shouldn't worry about the 4% rule for more details.

Back to the original thread, I'd love to join this race! We hit the $1M mark just around the time our baby was born in the middle of 2014. We are somewhere in the neighborhood of $1.35M right now. We don't have a number firmed up quite yet (haven't figured out the housing thing yet), but would like to call it quits by 2020. Let's see where this ride takes us. :)

Libertea

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Re: Race from $1M to $2M
« Reply #30 on: November 02, 2016, 07:21:56 PM »
I understand that a balanced investment portfolio will (theoretically) keep up with inflation over the long term if one's withdrawal rate is sufficiently conservative.  I'm not advocating for having to actually CONTRIBUTE $2 million to one's retirement account if one plans to FIRE now, just pointing out that $2 million in assets isn't all that astronomical of an amount to accumulate over the multi-decade lifespan of many people who are posting here.  Even without assuming doomsday hyperinflation types of scenarios, many of us will ultimately have and need assets of $2 million or more if we reach our full lifespans.  At a 3.5% inflation rate, you will need roughly twice your current amount of assets every 20 years or so to maintain the same lifestyle.  So a 30 or 40-year-old who needs $750,000 now almost certainly will need to eventually accumulate $2 million if they live long enough.  That this growth comes via market gains instead of further contributions is besides the point, unless you are suggesting that only people who are still making contributions from their paychecks should be posting in this thread.

lostamonkey

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Re: Race from $1M to $2M
« Reply #31 on: November 02, 2016, 08:48:20 PM »
I don't think some of the previous posters understand the 4% rule. The 4% rule assumes you increase your annual spend and annual draw from your investments by the rate of inflation each year. The risk of going broke at a given SWR does increase as you increase your estimated retirement period from the traditional 25 years to 40+ years but this increase in risk is pretty minor.
« Last Edit: November 02, 2016, 08:51:38 PM by lostamonkey »

Bateaux

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Re: Race from $1M to $2M
« Reply #32 on: November 05, 2016, 09:41:39 PM »
One more year syndrome may go on for a while for me.  The larger the portfolio gets, the easier it is to go to work.  I get my sixth week of vacation next year's, that's going to make it even easier.  The market hasn't really added any huge gains since we hit the 1.5M investment equities mark.   Bob Brinker calls it Critical Mass.  There is no requirement to retire, you have the option of throttling back a bit at work and watching your assets grow. Maybe take a lesser paying job you always wanted just to cover day to day expenses.

Metric Mouse

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Re: Race from $1M to $2M
« Reply #33 on: November 06, 2016, 12:31:27 AM »
I don't think some of the previous posters understand the 4% rule. The 4% rule assumes you increase your annual spend and annual draw from your investments by the rate of inflation each year. The risk of going broke at a given SWR does increase as you increase your estimated retirement period from the traditional 25 years to 40+ years but this increase in risk is pretty minor.

The increase in risk is minor and the upside is HUGE!

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #34 on: January 01, 2017, 07:20:42 PM »
Hello, everyone!  This is a fun thread to join.  As of December 15, 2016 I am at $1,114,912.

Looking forward to following everyone's journeys to $2MM!

mr_orange

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Re: Race from $1M to $2M
« Reply #35 on: January 01, 2017, 08:13:14 PM »
We're currently just north of $1.4M.  Our geometric average growth rate over the last 13 years has been 18.6%, which means we double our net worth roughly every 4 years.  My lower-bound FIRE number is 1.586M and our upper-bound number is around $2.5M.   So FIRE should be in the cards in the next 4 years.  A lot depends on how much I want to de-risk everything before we start working on our companies full time.

brooklynmoney

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Re: Race from $1M to $2M
« Reply #36 on: January 01, 2017, 09:03:16 PM »
I'm joining as of today I have $1 million liquid and am now setting my sights  of course on getting to the next milestone which I'm hoping will come much sooner. Thanks Cornbread for sharing this thread!

Koogie

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Re: Race from $1M to $2M
« Reply #37 on: January 02, 2017, 09:28:25 AM »
my guess would be when he semi retired he dropped down to just working to sustain his lifestyle and let his stash grow.  though that is projecting super conservative market gains over the next 18 months.
Right on the nose.  We are also drawing a bit from the dividend stream to supplement the "salary" so that slows down growth a bit as well.

Well, that happened a lot faster than it should have.  Just squeaked over the top based on figures from the 30th. Much of it thanks to the the post election bump in the US.   So a lot of those gains could evaporate as quickly as they accrued.
Nevertheless, the view is fine and I'm going to enjoy it today (while the markets are closed... lol)

brooklynmoney

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Re: Race from $1M to $2M
« Reply #38 on: January 02, 2017, 12:06:22 PM »
Congrtas, Koogie. I'm also enjoying the Santa Claus or Trump or whoever's rally.

Icecreamarsenal

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Re: Race from $1M to $2M
« Reply #39 on: January 02, 2017, 05:09:46 PM »
Posting to follow not join.  If I include home equity I'd be in it but using my own (most would say stupid and incorrect) way to calculate NW, just liquid invested.

CanuckExpat

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Re: Race from $1M to $2M
« Reply #40 on: January 03, 2017, 12:27:55 AM »
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...

HappierAtHome

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Re: Race from $1M to $2M
« Reply #41 on: January 03, 2017, 01:03:07 AM »
I may be joining this race at the end of next year if all goes well. How long will it take after that? Perhaps 6 more years assuming current trajectory.

It's hard to predict compounding.

I'm hoping to join at roughly the same time (by end of 2017) so this could get ugly, Marty ;-) West Coast rules, East Coast drools.

boarder42

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Re: Race from $1M to $2M
« Reply #42 on: January 03, 2017, 06:49:20 AM »
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...

whats your WR.  4% of 1.17M or less?

chesebert

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Re: Race from $1M to $2M
« Reply #43 on: January 03, 2017, 05:12:56 PM »
Do you all count rentals as investable assets for this exercise?

CanuckExpat

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Re: Race from $1M to $2M
« Reply #44 on: January 04, 2017, 01:23:35 AM »
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...

whats your WR.  4% of 1.17M or less?

Hard to say because we have a lot of changes and went into permanent travelling mode, so don't know what our expenses are. Will aim to keep them below $40,000. Long term it will depend on cost of housing in whatever area we settle in.

Metric Mouse

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Re: Race from $1M to $2M
« Reply #45 on: January 04, 2017, 04:20:02 AM »
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...

whats your WR.  4% of 1.17M or less?

Hard to say because we have a lot of changes and went into permanent travelling mode, so don't know what our expenses are. Will aim to keep them below $40,000. Long term it will depend on cost of housing in whatever area we settle in.

I love the attitude!

dogboyslim

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Re: Race from $1M to $2M
« Reply #46 on: January 04, 2017, 11:06:19 AM »
Do you all count rentals as investable assets for this exercise?

I count money that is employed for me, so rentals would be included.  Mostly I'm excluding money set aside for college and my home equity since I know both of those are not going to be accessible for spending.  I also exclude the value of cars/furniture/toys etc, but I don't think that needs to be said with this group.
Year end invested assets at 1.4M.

Bateaux

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Re: Race from $1M to $2M
« Reply #47 on: January 05, 2017, 07:29:09 PM »
Ok new year update.  Liquid investments are bubbling near 1.6M now.  Crazy rally has really boosted the portfolio.   Hard to believe that it's really real.

Car Jack

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Re: Race from $1M to $2M
« Reply #48 on: January 10, 2017, 01:04:19 PM »
So here's my brief story:

Tallied up our investments for the first time ever 3 years ago.  $1.54M.  Have corrected the investments by moving everything into simple 3 fund index funds and ETFs.  Rolled over a bunch of old 401k's and 403b's to simplify further.  Opened my first taxable account last year.

I'm now about $25k away from $2MM invested.  I don't count net worth because I can value my house and cars wherever I want, so that's sort of cheating to me.  Just paid spring semester tuition for my son and there's a 529 check coming our way to replenish some of that.  I do chase CC and Bank bonus money so have a good chunk waiting to hit the time in account to collect $400 at Citi, then that'll be free and I can get back to putting money into the taxable.  Oh, come to think of it, we can do 2017 Roth contributions first and since we're old, that's $13k right there for the 2 of us.  If the stock market stays somewhat stable (which it won't), I'll hit that "2" number in the next couple months.

I plan to retire in 2 or 3 years which has my wife all freaked out.  Son #1 graduates before I do so that leaves one more son.  And of course medical insurance.

I've been decluttering over the last few months which brings in a tiny bit of cash but more importantly rids the house of unwanted crap.  It's also nice to sell 3 good tires to someone for $15 who really needs them (we have a subaru that destroyed one tire....worn enough that we had to replace 4).  Oh, I love Craigslist!

farmecologist

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Re: Race from $1M to $2M
« Reply #49 on: January 10, 2017, 02:12:03 PM »
We are at a net worth of 1.9M-ish ( liquid investments at 1.6M, 1.3M are tax sheltered )....no debt.   One of us also has a pension which we are not taking into account right now ( treating that as a potential 'bonus' ).

You are probably wondering why we are still working, etc.... Well, we have two almost-college-aged kids, and one of us has a "pre-existing" medical condition.  Very worried about the future of the ACA, etc...  Probably will keep going until we have 2M in liquid investments.  However, it is becoming harder and harder to do every year ( corporate culture at my company sucks )!

By the way, for those wondering about retirement planning...Personal Capital has a very nice retirement planner under the 'advisor tool' tab.  It does take inflation into account, allows quite a few variables to be changed, and runs all sorts of simulations.  It then outputs a nice graph of the median (expected) and 10th percentile ( worst case ) scenarios.  I'd recommend Personal Capital for this tool alone.


Edit: Forgot to add that we are also a bit worried about the super high stock market valuations these days.  We have switched some of our holdings to somewhat more conservative funds ( Vanguard Wellesley - VWIAX ).  Not to be a downer but I also fear that we could see a stock market correction in 2017...but then again who knows!


« Last Edit: January 10, 2017, 02:19:38 PM by farmecologist »

 

Wow, a phone plan for fifteen bucks!