Author Topic: Race from $2M to $4M...and Beyond!  (Read 427103 times)

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #2100 on: December 16, 2019, 01:53:57 PM »

jeroly

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Re: Race from $2M to $3M.....and beyond!
« Reply #2101 on: December 16, 2019, 02:19:14 PM »
If doing well at school is still a big deal in a person’s life, then that’s great for them!

You aren't listening.    You've got a smug idea and it's interfering with learning something.

We're not talking about doing well at school "being a big deal" like we're proud of winning a touchdown or something.   We're not talking about being some boozy, paunchy and balding ex-football player still pining about our glory days in high school.

We're talking about what we learned in school making a real difference in our success.

I self-taught myself to design databases and program because times were hard, the town I moved to for love was in double-digit unemployment and didn't like strangers, I needed to make a living, I found an opportunity and I ran with it.

Professionally, I've written 1 book and published and/or presented about 80 professional technical articles or papers.
I was invited to speak at technical conferences in four countries and I've been published in 3 countries that I know of.

Generally, to present at major technical conferences, one has to submit an abstract that sells your presentation idea to the conference committee.   There were a number of conferences where they just contacted me and asked me what I wanted to talk about because they assumed if it was worth my time to present it, it was worth their time to learn it.

I've published two different technical publications, been the editor of another, and a contributing editor for two others. 

One US government agency designated me personally as a "unique, sole source provider" of the information that they needed, which meant they did not have put that particular contract out for competitive bidding.

A major international company invented a job for me because they wanted my unique professional skillsets.  I turned them down because my current employer gave me a better deal.   That included sending my wife, daughter and I to Europe for a month, most expenses paid, to write material for them simply because my wife needed to do research for her degree over there.

I wrote most of a report to a commission set up by the US congress on behalf of an entire branch of the US military, and I edited the other 40% of the report.

Oh, yeah, I made a bunch of money and after I learned about MMM, I invested enough to FIRE.

That's a fair bit of professional success.

Those English classes where they taught reading, writing, spelling, grammar and textual analysis?    I paid attention and I learned it!   Plus I did lots of extra reading on top of my assignments.    All that writing I did?   It was a whole lot easier because of it.

Those math classes where they taught arithmetic, trigonometry, and algebra?   I paid attention and learned it.   It was invaluable in my programming work and in business. Ditto with the economics courses.

Those history, sociology, anthropology classes?    I paid attention and learned it.   It gave me a wide range of experience and lots of real-life examples to use when thinking thru "what could happen?" when I was designing a software or business system.   It helped me communicate better with coworkers from other countries and cultures..   

Those political science courses?   I paid attention and learned it.   I got better database design training from Political Science classes than programmers got from computer science classes.    Socrates kicks butt! 

History and Political Science also got me interested in simulations.   Learning complex simulations meant reading complex game rule manuals and then turning those rules into strategies and tactics to win the simulation.    Software language manuals were a cake walk compared to some of the simulations I worked with.

Shop class made it a lot easier for me to renovate real estate property for profit and to keep repair costs on my own home lower than otherwise.

Because I took the time to learn lots of things well, I had a lot of different knowledge and skills I could draw upon to improvise, adapt and overcome whatever difficulties were in front of me.   I don't compartmentalize what I know, I try to use anything useful I've learned in everything I do.   

All those things made it possible for me to succeed and flourish professionally.   

Not because I made an "A" or got inducted into some silly club in high school or college, but because I learned lots of useful
information and I then made use of it.

Lots of people I went to school with never bothered to learn much in school and, after awhile, they lost the skills and willingness to learn.  They lacked the knowledge to recognize opportunities and lacked the habits to take advantage of them anyway.

That's how "what I learned in school" was a major driver of the success I have achieved.

I hope that clears things up.

+1 to all of this, and it's worth adding that for many people, academic success opens the door to more job opportunities paying higher wages.  It's not necessary to have a higher income to eventually become part of the wealthiest 1%, but it certainly helps make the path a lot easier.

AdrianC

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Re: Race from $2M to $3M.....and beyond!
« Reply #2102 on: December 16, 2019, 02:32:12 PM »
https://dqydj.com/net-worth-percentile-calculator-united-states/

Who are the top one percent in America by net worth?
Net worth of over $10,374,030.10 would put a household in the top 1%.



DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #2103 on: December 16, 2019, 02:38:52 PM »
I certainly am sympathetic to NancyFrank's description of having, "succeeded despite years of misinformation, indoctrination, and school-imposed limitations"
Not everyone's experience with school was rosy and involved obstacle free opportunities for learning along with mentoring from teachers.

I did well in school but I had some negative experiences with some of my classmates and even one or two of the teachers. I think prejudice and classism was involved in some of these interactions.

As an aside, going to school offers the opportunity to learn soft skills, emotional skills on how to interact with others, assuming that the teachers and peers provide this chance.

Not that long ago I got a Master's in accounting at a local medium size college, and one of the professors used to roast the students in his classroom. It was really a repulsive display of raw power by the professor over the students.


EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #2104 on: December 16, 2019, 03:02:10 PM »
https://dqydj.com/net-worth-percentile-calculator-united-states/

Who are the top one percent in America by net worth?
Net worth of over $10,374,030.10 would put a household in the top 1%.


There's also a percentile net worth by age calculator
https://dqydj.com/net-worth-by-age-calculator-united-states/

And a percentile income by state calculator
https://dqydj.com/income-percentile-by-state-calculator/

I can still be in the 1%, for the time being....


Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #2105 on: December 16, 2019, 09:26:16 PM »
https://dqydj.com/net-worth-percentile-calculator-united-states/

Who are the top one percent in America by net worth?
Net worth of over $10,374,030.10 would put a household in the top 1%.


There's also a percentile net worth by age calculator
https://dqydj.com/net-worth-by-age-calculator-united-states/

And a percentile income by state calculator
https://dqydj.com/income-percentile-by-state-calculator/

I can still be in the 1%, for the time being....

Strangely every one I checked came back nearly the same.  93 to 95 percentile.

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #2106 on: December 16, 2019, 11:29:41 PM »
https://dqydj.com/net-worth-percentile-calculator-united-states/

Who are the top one percent in America by net worth?
Net worth of over $10,374,030.10 would put a household in the top 1%.


There's also a percentile net worth by age calculator
https://dqydj.com/net-worth-by-age-calculator-united-states/

And a percentile income by state calculator
https://dqydj.com/income-percentile-by-state-calculator/

I can still be in the 1%, for the time being....

Strangely every one I checked came back nearly the same.  93 to 95 percentile.

Well, there aren't any perfect calculators out there, but I'd bet if you put in the right combination of your income or net worth vs (age + location) - you'd probably move from 95th percentile upwards a bit.

I'm probably not 1% in 2019 since the slope gets awfully steep from 95 percent onward and I'd imagine 2016 and 2017 numbers aren't good enough given the favorable economy, but I'm still amazed that I am living in this rarefied air and was scarcely aware of it.  MMM is also probably close to a 1%-er if his income was 400k two years ago...

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #2107 on: December 17, 2019, 01:49:13 AM »
I suppose 1% is not really all that special as it includes more than 3million people in the US. Not exactly an exclusive club.

Much Fishing to Do

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Re: Race from $2M to $3M.....and beyond!
« Reply #2108 on: December 17, 2019, 06:04:06 AM »
Hit $4M Net Worth with market rise yesterday ($3M LNW I'll base a flexible 4%SWR off of + paid off home, 529s for 3 kids about to start being used, and a DAF).  This is likely the last big number I'll cross while working as I was planning on Summer 2020 RE, so going forward will pretty much be determined by market performance.

nancyfrank232

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Re: Race from $2M to $3M.....and beyond!
« Reply #2109 on: December 17, 2019, 06:35:29 AM »
I suppose 1% is not really all that special as it includes more than 3million people in the US. Not exactly an exclusive club.

+1

Completely agree

There’s no shortage of money out there. There’s tons of it actually

AdrianC

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Re: Race from $2M to $3M.....and beyond!
« Reply #2110 on: December 17, 2019, 07:15:52 AM »
https://dqydj.com/net-worth-percentile-calculator-united-states/

Who are the top one percent in America by net worth?
Net worth of over $10,374,030.10 would put a household in the top 1%.


There's also a percentile net worth by age calculator
https://dqydj.com/net-worth-by-age-calculator-united-states/

And a percentile income by state calculator
https://dqydj.com/income-percentile-by-state-calculator/

I can still be in the 1%, for the time being....

Yeah, by age the net worth required to be a 1%er is going to be lower. There's a big step up in the mid-forties. Are most of the tech billionaires older than 44? Probably.

Here is the top one percent net worth in America by age, with and without a primary residence:
40-44  $2,864,334.14  $2,593,198.67
45-49  $9,666,729.57  $6,650,285.48
50-54  $14,746,583.81  $13,761,137.50
55-59 $14,590,118.46 $14,026,472.57


I'm certainly not 1%...not complaining, though!

(The "by state" link was income percentile. Not relevant for those of us FIRE'd already.)

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #2111 on: December 17, 2019, 07:23:00 AM »
I suppose 1% is not really all that special as it includes more than 3million people in the US. Not exactly an exclusive club.

+1

Completely agree

There’s no shortage of money out there. There’s tons of it actually

If I weren't so lazy, I'd make a few extra grand a year selling covered calls on the stock I'm sitting on.  But that's just it, I have more than enough so I'm not motivated by doing even this tiny bit of extra 'work'.  There's also real estate investing, all those bank account and credit card offers, selling tradeline hustles, etc.  It feels a bit unfair just how easy it is to make money once you have good credit and plenty of assets...  That's probably why I like my current line of work, I enjoy putting my mind to work and creating new things, not just scooping up passive income (although I still do plenty of that too with bonds and equities).
« Last Edit: December 17, 2019, 07:24:56 AM by EscapeVelocity2020 »

Car Jack

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Re: Race from $2M to $4M
« Reply #2112 on: December 18, 2019, 06:49:07 AM »
In light of the new thread "Train from $4M to $8M" https://forum.mrmoneymustache.com/throw-down-the-gauntlet/train-from-$4m-to-$8m/   I've changed the title here to contain us to "just" $2M to $4M. 

AdrianC

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Re: Race from $2M to $3M.....and beyond!
« Reply #2113 on: December 18, 2019, 07:17:41 AM »
If I weren't so lazy, I'd make a few extra grand a year selling covered calls on the stock I'm sitting on.  But that's just it, I have more than enough so I'm not motivated by doing even this tiny bit of extra 'work'.

That's not without risk, and why risk what you have and need to try to get what you don't have and don't need (paraphrasing Buffett)?

I feel this way about any kind of leverage or option strategy. Why bother? We're doing great without it.

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #2114 on: December 18, 2019, 07:41:46 AM »
If I weren't so lazy, I'd make a few extra grand a year selling covered calls on the stock I'm sitting on.  But that's just it, I have more than enough so I'm not motivated by doing even this tiny bit of extra 'work'.

That's not without risk, and why risk what you have and need to try to get what you don't have and don't need (paraphrasing Buffett)?

I feel this way about any kind of leverage or option strategy. Why bother? We're doing great without it.

I'll definitely do more with covered calls, spreads, and low-risk / limited-loss option strategies when I'm ER just because I like following the market and individual stocks.  Might as well have some time -value payoff.  I'm also interested in hard money lending, seems like a low risk way to play real estate.  Actual flipping and land-lording sounds like real work and does not excite me, although there is good money in it.  Maintaining my own home (and maybe a vacation home or RV) is enough physical real estate for me.

But yeah, while I'm working I don't need to take on even a smidgen of risk or extra work (more tax forms, ugh) for having more than I need.  There is also value in keeping life relatively simple.

Also, I'm staying on this thread, not moving to that other one.  This thread will always be '2-3M and beyond' to me :)
« Last Edit: December 18, 2019, 07:43:20 AM by EscapeVelocity2020 »

trashtalk

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Re: Race from $2M to $4M
« Reply #2115 on: December 18, 2019, 09:24:50 AM »
In light of the new thread "Train from $4M to $8M" https://forum.mrmoneymustache.com/throw-down-the-gauntlet/train-from-$4m-to-$8m/   I've changed the title here to contain us to "just" $2M to $4M.

Well that's awesome.


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itchyfeet

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Re: Race from $2M to $4M
« Reply #2116 on: December 18, 2019, 09:32:53 AM »
In light of the new thread "Train from $4M to $8M" https://forum.mrmoneymustache.com/throw-down-the-gauntlet/train-from-$4m-to-$8m/   I've changed the title here to contain us to "just" $2M to $4M.

Well that's awesome.


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Haha.... I know I shouldn’t encourage you, but it’s pretty funny on MMM that members want an $8M thread...

Dicey

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Re: Race from $2M to $4M
« Reply #2117 on: December 18, 2019, 09:47:04 AM »
I liked the old title because it always made me think of Toy Story...To infinity and beyond!

I like it here and do not aspire to having boatloads more than I could ever spend, even for charity. Should we happen to get past that number, it will be due to inheritance or investment gains, neither of which I can take much pride in "achieving".

I also think it might mean a person (or couple) is working far too long, which I consider fairly anti-mustachian. It even feels like -dare I say - a losing proposition. Hard pass for me.

I'm fine with folks who want to amass lots of money and maybe never retire, but this hardly seems the place to vaunt that.

itchyfeet

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Re: Race from $2M to $4M
« Reply #2118 on: December 18, 2019, 10:03:44 AM »
I can certainly easily imagine am $8 million lifestyle. I have been doing my best to convince myself I don’t want to work to have it.

I could easily spend $5million on a beachfront home if I had that kind of money, but know a house 1 street back for 20% of the cost will have the same practical benefits.

I could blow a tonne on cars... but DW wouldn’t let me even if we had $8m.

Don’t start me on airplanes (again)... travel not owning... hmmm 🤔

Beyond that, with our “measly” minor millions we will get by fine 😬

But congrats and best wishes to the lucky and/or diligent few.

Here’s to “a bit better off than most” and beyond!!

Exflyboy

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Re: Race from $2M to $4M
« Reply #2119 on: December 18, 2019, 10:27:35 AM »
Just when I think I'm doing OK you guys move the goalposts!...:)

secondcor521

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Re: Race from $2M to $4M
« Reply #2120 on: December 18, 2019, 11:31:51 AM »
PTF.

2sk22

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Re: Race from $2M to $4M
« Reply #2121 on: December 18, 2019, 01:45:13 PM »
I can certainly easily imagine am $8 million lifestyle. I have been doing my best to convince myself I don’t want to work to have it.

I could easily spend $5million on a beachfront home if I had that kind of money, but know a house 1 street back for 20% of the cost will have the same practical benefits.

I could blow a tonne on cars... but DW wouldn’t let me even if we had $8m.

Don’t start me on airplanes (again)... travel not owning... hmmm 🤔

Beyond that, with our “measly” minor millions we will get by fine 😬

But congrats and best wishes to the lucky and/or diligent few.

Here’s to “a bit better off than most” and beyond!!

I had a quiet chuckle when I read this. When I was sixteen, my dearest ambition in life was to eventually buy a supercar. Now, there is a Lamborghini dealership across the street from the Trader Joe's where I go to shop. I see the Huracans and the Urus' parked in a row outside and I don't feel even the slightest stirring of interest in them. I could buy one of them for cash and yet, all I can think of is how stupid these cars are.


flyingaway

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Re: Race from $2M to $4M
« Reply #2122 on: December 18, 2019, 09:16:49 PM »
In light of the new thread "Train from $4M to $8M" https://forum.mrmoneymustache.com/throw-down-the-gauntlet/train-from-$4m-to-$8m/   I've changed the title here to contain us to "just" $2M to $4M.

I will be more interested in spending money and enjoying my life, not in racing to a higher level, although I am sure my portfolio will keep growing. Life is short.

nancyfrank232

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Race from $2M to $4M
« Reply #2123 on: December 18, 2019, 11:38:47 PM »
.

soccerluvof4

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Re: Race from $2M to $4M
« Reply #2124 on: December 19, 2019, 04:28:17 AM »
Throwing these big numbers around suddenly I feel broke! As long as I get by :-)

carstenjames

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Re: Race from $2M to $4M
« Reply #2125 on: December 19, 2019, 08:36:47 AM »
I liked the old title because it always made me think of Toy Story...To infinity and beyond!

I also liked the old title. There have been several high net worth threads but this is the one that has endured!

PhrugalPhan

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Re: Race from $2M to $4M
« Reply #2126 on: December 19, 2019, 12:38:26 PM »
Throwing these big numbers around suddenly I feel broke! As long as I get by :-)
Go to the Bogleheads forum and look up the threads on net worth if you want to feel broke.  My GF & my net worth grew over $300k this year, yet reading some of those threads made me feel so ….. inadequate.

carstenjames

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Re: Race from $2M to $4M
« Reply #2127 on: December 19, 2019, 12:53:23 PM »
Go to the Bogleheads forum and look up the threads on net worth if you want to feel broke.  My GF & my net worth grew over $300k this year, yet reading some of those threads made me feel so ….. inadequate.

Haha, yeah I think it was Teddy Roosevelt that said comparison was the thief of joy! Fact is money, nor poverty, buys happiness and most everyone in this thread is doing really well. 300k is an awesome gain congrats!

pecunia

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Re: Race from $2M to $4M
« Reply #2128 on: December 19, 2019, 06:57:32 PM »
Ever feel like a broken record.

Another record high for the Dow Jones.

https://www.barrons.com/articles/dow-jones-industrial-average-closes-at-record-high-51576793795

Yeh, I liked the old title.  I'll never get to the new goal post.  On the other hand, it is not necessary.  Reaching the old one will provide adequate sustenance.

Is it real wealth?  With deficit spending by many governments and the increase in the money supply by central banks, is the stock market rise simply an indication of the increase in the money supply where the actual tangible assets that are being held are not increasing in real value?   Supposedly, we do not live in inflationary times, yet I just don't trust this thing going up and up.  It is an ever expanding bubble and many say it will burst.  I've got to wonder who are the people dumping all the cash in to keep driving the price up  Is the better part by big businesses buying back stock?

Per past posts, there are lots of well educated people making entries herein who have probably got this figured out.  You've all tried to explain it to me, but it just never completely sinks in.

SwordGuy

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Re: Race from $2M to $4M
« Reply #2129 on: December 19, 2019, 07:48:56 PM »
Another record high for the Dow Jones.

...

Is it real wealth?  With deficit spending by many governments and the increase in the money supply by central banks, is the stock market rise simply an indication of the increase in the money supply where the actual tangible assets that are being held are not increasing in real value?   Supposedly, we do not live in inflationary times, yet I just don't trust this thing going up and up.  It is an ever expanding bubble and many say it will burst.  I've got to wonder who are the people dumping all the cash in to keep driving the price up  Is the better part by big businesses buying back stock?

Per past posts, there are lots of well educated people making entries herein who have probably got this figured out.  You've all tried to explain it to me, but it just never completely sinks in.

Darned if I know.   That's why we have multiple income streams in retirement instead of just stock and bonds.

Rental house income, rental farm income, social security and stocks/bonds.   

secondcor521

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Re: Race from $2M to $3M.....and beyond!
« Reply #2130 on: December 19, 2019, 11:28:17 PM »
A stack of one million, $1 bills is 358 feet tall and over a ton.  We could judge our goals in feet.  1000 feet or bust!

Which means, for most people on this thread, they literally have tons of money.

Interestingly, I think I figured out that $1M in USD converted to Canadian loonies is almost 9 tons of cash.  So even if you're "just" a millionaire, you could move North and still have tons of money.

And $1M in US dollar coins is also close to 9 tons.  It's also about 16.5 miles if you set the coins next to each other in a line.  Kind of odd to say that you have "miles and miles" of money, though.  For some here you could have "marathons" of money.

Or Statues of Liberty of money, if you wanted to go back to the height thing.

EscapeVelocity2020

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Re: Race from $2M to $4M
« Reply #2131 on: December 20, 2019, 08:31:21 AM »
Is it real wealth?  With deficit spending by many governments and the increase in the money supply by central banks, is the stock market rise simply an indication of the increase in the money supply where the actual tangible assets that are being held are not increasing in real value?   Supposedly, we do not live in inflationary times, yet I just don't trust this thing going up and up.  It is an ever expanding bubble and many say it will burst.  I've got to wonder who are the people dumping all the cash in to keep driving the price up  Is the better part by big businesses buying back stock?

Yes, it is real wealth.  If I want to use my appreciated equities to go buy a house or a new car, the number published as the value has not gone up at the same rate as the stock market.  I can buy lots more stuff than I could at the beginning of the year.  On the other hand, it is also real inequality.  People who do not own equities are still just getting by and their income has not gone up at the same rate.

The Fed is back on QE which forces cheap cash in to banks coupled with fiscal easing from USTCJA in 2017.  Also, yes, the US is running huge deficits with no end in sight. 

But, unless inequality bothers you, I'm not sure worrying about it does much good.  Everyone will be in the same boat when/if the bubble bursts - it will be like the Great Recession except now the government is the 'too big to fail' bank that needs to be bailed out.

terran

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Re: Race from $2M to $3M.....and beyond!
« Reply #2132 on: December 20, 2019, 08:56:51 AM »
Interestingly, I think I figured out that $1M in USD converted to Canadian loonies is almost 9 tons of cash.  So even if you're "just" a millionaire, you could move North and still have tons of money.

I think they'd have tonnes of money, not tons of money. And 1 US ton ~ 0.907 metric tonnes.

secondcor521

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Re: Race from $2M to $3M.....and beyond!
« Reply #2133 on: December 20, 2019, 11:58:51 AM »
Interestingly, I think I figured out that $1M in USD converted to Canadian loonies is almost 9 tons of cash.  So even if you're "just" a millionaire, you could move North and still have tons of money.

I think they'd have tonnes of money, not tons of money. And 1 US ton ~ 0.907 metric tonnes.

Good point.  I just did all the math in Google, so it's whatever Google considers a "ton".  They're probably smart enough to know me well enough to use US tons in their answers.

"Decatonnes of loonies" could be a nice turn of phrase, depending on your exact NW level.

Bateaux

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Re: Race from $2M to $4M
« Reply #2134 on: December 20, 2019, 10:09:02 PM »
I guess it starts to feel real once you're spending it everyday.  For now, it really doesn't seem real.  The digits keep going up, up, up.  They have to turn back for at least a little while it seems.  All I know is, I've got six working days till a cool vacation.  My wife and I will be headed to our Florida home for a few days.  We'll have a driver pick us up at our home and bring us to the Tampa cruise terminal.  We board a luxury ship for 11 fun filled days in the Sun.  The driver then recovers us from the cruise terminal and drops us back home for a few more relaxed days.  It's almost February before we return to Louisiana and our jobs.   Kinda a mini Fat FIRE period.  Prelude to what is soon to come.🤩

DavidAnnArbor

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Re: Race from $2M to $4M
« Reply #2135 on: December 21, 2019, 07:22:06 AM »
I guess it starts to feel real once you're spending it everyday.  For now, it really doesn't seem real.  The digits keep going up, up, up.  They have to turn back for at least a little while it seems.  All I know is, I've got six working days till a cool vacation.  My wife and I will be headed to our Florida home for a few days.  We'll have a driver pick us up at our home and bring us to the Tampa cruise terminal.  We board a luxury ship for 11 fun filled days in the Sun.  The driver then recovers us from the cruise terminal and drops us back home for a few more relaxed days.  It's almost February before we return to Louisiana and our jobs.   Kinda a mini Fat FIRE period.  Prelude to what is soon to come.🤩

Which cruise line are you going with ?

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Re: Race from $2M to $3M.....and beyond!
« Reply #2136 on: December 21, 2019, 03:11:09 PM »
Interestingly, I think I figured out that $1M in USD converted to Canadian loonies is almost 9 tons of cash.  So even if you're "just" a millionaire, you could move North and still have tons of money.

I think they'd have tonnes of money, not tons of money. And 1 US ton ~ 0.907 metric tonnes.

Good point.  I just did all the math in Google, so it's whatever Google considers a "ton".  They're probably smart enough to know me well enough to use US tons in their answers.

"Decatonnes of loonies" could be a nice turn of phrase, depending on your exact NW level.

Remember that "proper" English tons are 2240 pounds!..:)

Bateaux

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Re: Race from $2M to $4M
« Reply #2137 on: December 21, 2019, 03:30:00 PM »
I guess it starts to feel real once you're spending it everyday.  For now, it really doesn't seem real.  The digits keep going up, up, up.  They have to turn back for at least a little while it seems.  All I know is, I've got six working days till a cool vacation.  My wife and I will be headed to our Florida home for a few days.  We'll have a driver pick us up at our home and bring us to the Tampa cruise terminal.  We board a luxury ship for 11 fun filled days in the Sun.  The driver then recovers us from the cruise terminal and drops us back home for a few more relaxed days.  It's almost February before we return to Louisiana and our jobs.   Kinda a mini Fat FIRE period.  Prelude to what is soon to come.🤩

Which cruise line are you going with ?

Norwegian Dawn is the ship.  We've sailed on it before, previously before a refit it's home port was New Orleans. We do like to cruise, and when work no longer gets in the way we can take advantage of some great bargins.

wannabe-stache

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Re: Race from $2M to $4M
« Reply #2138 on: December 21, 2019, 07:38:16 PM »
Been a while since i visited this thread.  We cruised from $3.3M to $4.1M net worth as of 12/20/2019.  It is amazing how fast it goes up in a soaring market and how little it manages to really make an emotional uplift in your personal life.  My wife and i were walking with our 2 year old and i mentioned to her that dividends came through last night and oh by the way we crossed over $4M a few days ago.

She shrugged her shoulders and questioned whether she should stop for that iced coffee she loves.

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Re: Race from $2M to $4M
« Reply #2139 on: December 21, 2019, 08:00:42 PM »
Been a while since i visited this thread.  We cruised from $3.3M to $4.1M net worth as of 12/20/2019.  It is amazing how fast it goes up in a soaring market and how little it manages to really make an emotional uplift in your personal life.  My wife and i were walking with our 2 year old and i mentioned to her that dividends came through last night and oh by the way we crossed over $4M a few days ago.

She shrugged her shoulders and questioned whether she should stop for that iced coffee she loves.

To which you reply.."Well.. I think we can afford it"...:)

EscapeVelocity2020

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Re: Race from $2M to $4M
« Reply #2140 on: December 21, 2019, 10:55:36 PM »
Been a while since i visited this thread.  We cruised from $3.3M to $4.1M net worth as of 12/20/2019.  It is amazing how fast it goes up in a soaring market and how little it manages to really make an emotional uplift in your personal life.  My wife and i were walking with our 2 year old and i mentioned to her that dividends came through last night and oh by the way we crossed over $4M a few days ago.

She shrugged her shoulders and questioned whether she should stop for that iced coffee she loves.

To which you reply.."Well.. I think we can afford it"...:)
Also, just to state the obvious, it is easier to spend a bit more while the gains roll in (uh, free money).  When the market starts to falter, you think more about building assets at a discount.  I almost miss those times when I used effort to go against the grain and build assets.

Nothing wrong with carrying the frugal torch after FI if that is your happy place, you won't go broke doing that, but you will have more incentive to be frugal in a bear market, so don't miss out on enjoying the wealth when times are good.

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Re: Race from $2M to $4M
« Reply #2141 on: December 21, 2019, 11:59:23 PM »
My DH pointed out this morning that REI is having another 25% off special on their clearance section.

I replied that I save 100% by not buying something I don't really need.

We can afford anything we want.  We want little compared to most people.  That's the sweet spot, in my book.

Yes!...:)

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Re: Race from $2M to $4M
« Reply #2142 on: December 22, 2019, 07:42:00 AM »
My DH pointed out this morning that REI is having another 25% off special on their clearance section.

I replied that I save 100% by not buying something I don't really need.

We can afford anything we want.  We want little compared to most people.  That's the sweet spot, in my book.

Since people are always interested, I tallied up some of the luxuries that we pay for:

  • Living near New York City - this is mainly reflected in high property taxes for a modest house. Its great to be able to go into the city on a whim. Also, I have a very short public transit commute into the city.
  • Gym membership and once-a-week training session (both wife and myself). We started this just last year and it has been life changing.
  • Hiring a trusted but somewhat expensive contractor for major home renovation projects - but this is quite rare. Until now I lacked the time and skill to do the work myself but with my impending retirement that will change. Hope to reach @Exflyboy and @soccerluvof4 levels of proficiency eventually :-)   
  • Business class tickets for over-night international flights. Can't beat a life flat bed. This is a couple times a year.
  • Organic eggs from a particular farm in Massachusetts - twice the price of Trader Joe's but well worth it!

soccerluvof4

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Re: Race from $2M to $4M
« Reply #2143 on: December 22, 2019, 01:21:11 PM »
My DH pointed out this morning that REI is having another 25% off special on their clearance section.

I replied that I save 100% by not buying something I don't really need.

We can afford anything we want.  We want little compared to most people.  That's the sweet spot, in my book.

Since people are always interested, I tallied up some of the luxuries that we pay for:

  • Living near New York City - this is mainly reflected in high property taxes for a modest house. Its great to be able to go into the city on a whim. Also, I have a very short public transit commute into the city.
  • Gym membership and once-a-week training session (both wife and myself). We started this just last year and it has been life changing.
  • Hiring a trusted but somewhat expensive contractor for major home renovation projects - but this is quite rare. Until now I lacked the time and skill to do the work myself but with my impending retirement that will change. Hope to reach @Exflyboy and @soccerluvof4 levels of proficiency eventually :-)   
  • Business class tickets for over-night international flights. Can't beat a life flat bed. This is a couple times a year.
  • Organic eggs from a particular farm in Massachusetts - twice the price of Trader Joe's but well worth it!


Its good that you allow yourself to afford somethings that are important to you. Some people think or treat being Fire'd almost like its a prison sentence or a finish line but what good is it if you cant enjoy or have some indulgences.

For me/ Us it was living on a lake which we just accomplished to thoroughly enjoy our boat , view and have the cabin feel in what is hopefully our forever home.

Traveling with or to see our kids around the country play soccer

We have a gym membership but its just the Y. But I am one that needs to go somewhere to workout so its a good tradeoff as it offers something for everyone in the family to do.

Were pretty much dead center between two good size cities which enables us the opportunity to find all sorts of entertainment which we do as well indulge in occasionally but mostly the sporting events since all our pro teams have been pretty good of late.


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Re: Race from $2M to $4M
« Reply #2144 on: December 23, 2019, 08:04:12 AM »
My DH pointed out this morning that REI is having another 25% off special on their clearance section.

I replied that I save 100% by not buying something I don't really need.

We can afford anything we want.  We want little compared to most people.  That's the sweet spot, in my book.

Yes!...:)

Yeah, I think it's all relative.  Compared to people with my net worth (and income, although I could live off of my passive income), I'm Super-Frugal!  But compared to folks on this forum, I'm spendy-pants.

We live well but within our means.  We take lots of vacations, eat out quite a bit, don't pay close attention to our grocery budget, our teenagers have cell phones, decent clothes, a car and insurance, etc.  The beauty of FI is that you only need to glance at your finances every once in a while to ensure that the feeling of spending too much isn't, in reality, that you are living beyond your passive income means.  And we have plenty of spots where we could cut back with a little effort if it became necessary, but with this bull market roaring, I'm doing my best to 'let it go'.  If anything, we should probably be spending more but I'm proud of our stealth wealth and that our kids don't have outrageous expectations (no iPhone 11s or designer clothes, BMW, etc.).  We are still on the same page that those things are silly, overpriced, and ultimately make the owners less happy.

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Re: Race from $2M to $4M
« Reply #2145 on: December 23, 2019, 11:59:27 AM »
A vote to restore the previous name of the thread.   ...and beyond!

We can always link to the 4+M thread occasionally,. Since this isn't Bogleheads, and the thread is full of fear for bad thoughts directed at people with 4+M, I don't think it will be active enough to justify changing this thread's title.

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Re: Race from $2M to $4M
« Reply #2146 on: December 23, 2019, 02:26:23 PM »
Seconded - Going past three is already the great beyond.  It boggles the mind.


Bateaux

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Re: Race from $2M to $4M
« Reply #2147 on: December 23, 2019, 10:20:17 PM »
Seconded - Going past three is already the great beyond.  It boggles the mind.

3M won't happen until after retirement for us.  But, it will happen.

Bateaux

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Re: Race from $2M to $4M
« Reply #2148 on: December 24, 2019, 06:11:21 PM »
Woo-hoo!  We just made an offer on a 4 acre plot of land near our Florida home.  Since the Florida house is in a golf community and has HOA rules, I need some space.  The house sits on a big acre lot and is surrounded by acre lots.  There are two empty acre lots behind us currently and have been for 30 years now.   So, I guess we have plenty of space, but not free to do what I want space.  Anyway, it's only 1.1 miles away, so I can walk to it, bike to it, golf cart to it, you get the idea.  Hell, one day we may build on it if we choose.  It's listed for $32,500 for the whole 660 foot by 265 foot rectangle.  It's half wooded and half cleared, which is perfect.  I hope to put a large barn or shop on the property to keep my stuff.  Yeah, not very MMM I know.  But at least the garage at the house won't be cluttered then.  For now it's just going to be the land.  We'll decide on what we'll put on it later.  We're excited and have been looking for a nearby property for over a year.  This is as perfect as it gets location wise.  It abuts a nice church property for it's entire northern boundary.  A secondary paved road to the East, a secondary paved road to the South and a newly build home which is within our golf community to the west.  We're paying cash because we're going on a cruise in a week and just don't have time for banker's bullshit.  Damn I love being a millionaire.  Anyway.  Fun times.
« Last Edit: December 24, 2019, 06:13:00 PM by Bateaux »

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