Race from $2M to $4M...and Beyond!

[Car Jack]

Exflyboy needs a boat.  Then he will spend all his excess time and money keeping it afloat.

I highly recommend a boat.  Nothing beats cocktails on the boat watching the sunset.  :)

I already had a boat.  For me, reality would be to watch the sun set, then slam into a rock, bending the prop.  I don't miss that stupid stink pot.

[pecunia]

The two happiest days of a boat owner  - The day he buys it and the day he sells it.

[Dancin'Dog]

If you've got $2M-$4M what's the big deal about owning a boat? 


As they say, "You can't take it with you." 


And, "Your kids will buy a boat with their inheritance."  ;)

[itchyfeet]

If you've got $2M-$4M what's the big deal about owning a boat? 


As they say, "You can't take it with you." 


And, "Your kids will buy a boat with their inheritance."  ;)

😂 blame the kids

[soccerluvof4]

Crickets.................

[BeanCounter]

It’s getting a little scary!!
What happens if Corona virus takes me under $2M? Do I have to find another thread to post in?

[Dicey]

It’s getting a little scary!!
What happens if Corona virus takes me under $2M? Do I have to find another thread to post in?

Maybe not, if the "Corona virus" gets you first... (black humor)

[Dancin'Dog]

It’s getting a little scary!!
What happens if Corona virus takes me under $2M? Do I have to find another thread to post in?

It might be time to start a "Crying in your beer" thread.  Or maybe a "Damn I wish I hadn't bought that boat!" thread. 

[EscapeVelocity2020]

It might be time to start a "Crying in your beer" thread.  Or maybe a "Damn I wish I hadn't bought that boat!" thread.

Just make sure it's not a Corona... ba dum, cha...

[soccerluvof4]

It’s getting a little scary!!
What happens if Corona virus takes me under $2M? Do I have to find another thread to post in?

Maybe not, if the "Corona virus" gets you first... (black humor)

Is Black Humor ok these days? lol , your not running for any future office I hope!

[Dicey]

It’s getting a little scary!!
What happens if Corona virus takes me under $2M? Do I have to find another thread to post in?

Maybe not, if the "Corona virus" gets you first... (black humor)

Is Black Humor ok these days? lol , your not running for any future office I hope!

Well, I wasn't sure what to call it. It wasn't sarcasm, for which there is a known symbol (/s), and dark humor didn't really fit the bill. Since it's referring to black as in "black of night", I think it's  okay. However, I fully intend to never run for any future office, lol.

[ysette9]

I’m pretty sure @Dicey would do a much better job in some high office than our current illustrious leaders.

You got my vote!

[Exflyboy]

@Dicey .. Whats your position on landmines? The goon seems to like them..

[Dicey]

@Dicey .. Whats your position on landmines? The goon seems to like them..

That guy makes my head want to explode. I can't even.

[desk_jockey]

@Dicey .. Whats your position on landmines? The goon seems to like them..

That guy makes my head want to explode. I can't even.

Yes, but I come here as a respite from all the talk by and of that asshat.  So back on topic, the market recovered a bit today thus postponing my fall from this thead to the one below.

[soccerluvof4]

@Dicey .. Whats your position on landmines? The goon seems to like them..

That guy makes my head want to explode. I can't even.

Yes, but I come here as a respite from all the talk by and of that asshat.  So back on topic, the market recovered a bit today thus postponing my fall from this thead to the one below.

I dont think dipping in and out makes you have to leave! Or dipping out on the market for that matter.  Your in.. ! imo

[LightTripper]

@Dicey .. Whats your position on landmines? The goon seems to like them..

That guy makes my head want to explode. I can't even.

Yes, but I come here as a respite from all the talk by and of that asshat.  So back on topic, the market recovered a bit today thus postponing my fall from this thead to the one below.

I dont think dipping in and out makes you have to leave! Or dipping out on the market for that matter.  Your in.. ! imo

I know I'm new and all, so not sure I get a vote, but I agree, once you're in you're in (sorry!)

It seems the more I think I've got my finances sorted the more there is to learn about/fix.  Just come across some weird UK tax thing that means some of the investments I bought in my non-tax--wrapper accounts in September and January are going to be an admin pain from a tax point of view, so had to switch those over... still, at least I learned within the tax year, so I should only have to do the tax admin once (and it might actually not generate any liability at all: at worst just a small one if I got unlucky on dates).  Also looking properly at the costs on all my ancient ISAs (like a UK Roth) and wondering if I am mad to have my pension/two GIAs split across three providers.  they all have platform fees that cap out at a certain level and I didn't do enough research on that when I set them up, so it could be that I could save a couple of hundred a year by consolidating... and some easier wins that I could get with less work, just by shifting my mix of products in each place.

I wonder if this will ever end - or is there always "something else to learn/do" with investments/savings/taxes etc?

[Dicey]

@Dicey .. Whats your position on landmines? The goon seems to like them..

That guy makes my head want to explode. I can't even.

Yes, but I come here as a respite from all the talk by and of that asshat.  So back on topic, the market recovered a bit today thus postponing my fall from this thead to the one below.

Totally agree. Never have I had a deeper appreciation for the Low Information Diet than now.

[Bateaux]

Ready to make a major move into wealth preservation within my 401K.

I have 165K in VBTLX and will keep that there.   The total 401K is about 1.25M.  Looking to go to 50 percent preservation in the 401K.   Buy more of the VBTLX or go Morley Stable Value?   Thinking of moving 500 or 600K into the Stable Value right now while I decide on where to park it long term.

My wifes 401K and rollover IRA are about 425K combined.  Probably will move some of that to more preservation as well.

Going to leave the Roth IRAs almost 300K in VTSAX.   

The Cash Balance pension 400K is with Prudential and the company is still pouring in money.  It earns 5%.

Probably will keep about one million in growth/risk and look to preserve the rest.  I hate throwing in the towel, but I have rolled the dice long enough.   Not quiiting work yet but it's on the radar.

[Car Jack]

Personally, I'd do VBTLX rather than a stable value fund.  While bonds are known to quiet the volatility of the portfolio, it does go up over time.  More so than a stable value fund would.

I just did a small rebalance this morning from equity to bond.

[Bateaux]

Personally, I'd do VBTLX rather than a stable value fund.  While bonds are known to quiet the volatility of the portfolio, it does go up over time.  More so than a stable value fund would.

I just did a small rebalance this morning from equity to bond.

I did buy some VBTLX, now my 401K has 15 percent, I moved to 50 percent Stable Value,  25 percent Index 500 and 10 percent Mainstay Large Cap Growth.  I may adjust from Stable Value later .   For my wife's401K , I moved to 70 percent Vanguard 2020, 20 percent Index 500 and 10 percent Vanguard REIT. 

[DavidAnnArbor]

What's the expense ratio of Morley Stable Value ? 

[Bateaux]

What's the expense ratio of Morley Stable Value ?

Kind of pricey.   Looks like 0.49% VBTLX is what?  0.05%.   I definitely took thaf into consideration.   

I'm using Stable Value as a parking place till I figure it out.   I had family members get wiped out pretty bad who'd retired prior to 2008.  I see nothing to prevent a 40 to 50 percentage drop coming again.  I hate giving up on the huge gains I've been making by being invested almoat 90 percent growth.  But, my plan is to definitely not work past 2023.  Potentially be done within 12 months.

[2sk22]

I was just compiling our tax data for 2019 and it looks like our W2 gross income alone for the year will be more than the entire stash for many people on this forum. Although my wife and I were fairly well paid early in our careers, this all still feels unreal.

Making good money later in life feels very different from the situation for a lot of young hot-shots in Silicon Valley. Our situation has the feel of hitting a lottery. At this point, like @Bateaux I will be grateful to just hold on to what we have earned.

[Taran Wanderer]

We’re in a similar situation. Kind of amazed by our earnings this year. We both had personal records, and it makes FIRE both possible and seem kind of crazy to give up this kind of income.

[Exflyboy]

I was just compiling our tax data for 2019 and it looks like our W2 gross income alone for the year will be more than the entire stash for many people on this forum. Although my wife and I were fairly well paid early in our careers, this all still feels unreal.

Making good money later in life feels very different from the situation for a lot of young hot-shots in Silicon Valley. Our situation has the feel of hitting a lottery. At this point, like @Bateaux I will be grateful to just hold on to what we have earned.

Wait.. Your W2 income is more than $2million?  I'm impressed..:)

[Bateaux]

I was just compiling our tax data for 2019 and it looks like our W2 gross income alone for the year will be more than the entire stash for many people on this forum. Although my wife and I were fairly well paid early in our careers, this all still feels unreal.

Making good money later in life feels very different from the situation for a lot of young hot-shots in Silicon Valley. Our situation has the feel of hitting a lottery. At this point, like @Bateaux I will be grateful to just hold on to what we have earned.

We know who the and Beyond's are.  I finally have enough equities, to not count pension or houses or baseball cards for 2M.

Wait.. Your W2 income is more than $2million?  I'm impressed..:)

[2sk22]

I was just compiling our tax data for 2019 and it looks like our W2 gross income alone for the year will be more than the entire stash for many people on this forum. Although my wife and I were fairly well paid early in our careers, this all still feels unreal.

Making good money later in life feels very different from the situation for a lot of young hot-shots in Silicon Valley. Our situation has the feel of hitting a lottery. At this point, like @Bateaux I will be grateful to just hold on to what we have earned.

Wait.. Your W2 income is more than $2million?  I'm impressed..:)

No - I meant the mrmoneymustache forums as a whole - definitely not the group in this topic :-)
Our household's W2 total is less than a million dollars but not by too much!

[soccerluvof4]

Ahhhh tax time... Going to be paying about 10xs as much this year per my calculations because of the large draw I took when purchasing the new house. Fortunately In negotiating for the house I negotiated some of that off the price but still sucks when for the most part Fire'd working a side gig but also dumping $ into the new place. My choice so gotta live by the decision.

[Dicey]

Ahhhh tax time... Going to be paying about 10xs as much this year per my calculations because of the large draw I took when purchasing the new house. Fortunately In negotiating for the house I negotiated some of that off the price but still sucks when for the most part Fire'd working a side gig but also dumping $ into the new place. My choice so gotta live by the decision.

Ha! We feel the same way because of the flip house. Definitely Mustachian People Problems! So glad to have them.

[DavidAnnArbor]

I was just compiling our tax data for 2019 and it looks like our W2 gross income alone for the year will be more than the entire stash for many people on this forum. Although my wife and I were fairly well paid early in our careers, this all still feels unreal.

Making good money later in life feels very different from the situation for a lot of young hot-shots in Silicon Valley. Our situation has the feel of hitting a lottery. At this point, like @Bateaux I will be grateful to just hold on to what we have earned.

Wait.. Your W2 income is more than $2million?  I'm impressed..:)

No - I meant the mrmoneymustache forums as a whole - definitely not the group in this topic :-)
Our household's W2 total is less than a million dollars but not by too much!

I never made much income, I think I only got above $100k a few times in my life.
I still managed to save quite a bit, though it took me longer than most people on mrmoneymustache

[Exflyboy]

Haha.. If anything if I ever made close to $1M in income I would probably never retire..:)

[SwordGuy]

Ahhhh tax time... Going to be paying about 10xs as much this year per my calculations because of the large draw I took when purchasing the new house. Fortunately In negotiating for the house I negotiated some of that off the price but still sucks when for the most part Fire'd working a side gig but also dumping $ into the new place. My choice so gotta live by the decision.

I get to do that next year. :(

Can't complain either.  :)

[Dancin'Dog]

Haha.. If anything if I ever made close to $1M in income I would probably never retire..:)

That's a trap that I've seen a number of successful friends caught in.  They like the money and the prestige, and hate it when I point out that my schedule is wide-open while theirs is filled with "important" things.


I tell them that "my" time is very important to me.  ;) 

[Taran Wanderer]

DW and I were just talking about the prestige thing today. My work connects me to people, and this gives me access that is pretty nice to have. And while we don’t flaunt our money, people know we do okay. So DW’s question was, “If/when you FIRE, are you worried about loss of access or prestige?”  It’s a good question that I get to ponder as I participate in “important” and boring meetings.

[ysette9]

I will definitely miss some things about working, the perks mostly. Free food, a nice place to hang out with snack and drinks and WiFi, the freebies and outings and whatnot. I don’t think I care as much about the prestige part but I may very well be mistaken there.

[SwordGuy]

I will definitely miss some things about working, the perks mostly. Free food, a nice place to hang out with snack and drinks and WiFi, the freebies and outings and whatnot. I don’t think I care as much about the prestige part but I may very well be mistaken there.

No place I ever worked had nice enough facilities or WiFi that I wanted to be there working instead of somewhere else.   A cheap polo shirt ever year or five.  Nope, not worth it.   Outings with people I usually have nothing in common with other than work.   Nope, not worth it.

Getting to travel to Europe or around the US on business was nice -- in moderation.    It wasn't always in moderation. :(    Worth it for a few years, but no more.

I can have the status of "programmer" or "author" any time I want them just by doing those tasks for myself.   So far, I haven't wanted them enough to bother.   I'll eventually start writing again, I'm starting to get that bug, just not enough yet to finish anything.

[ysette9]

I certainly never said that the perks were worth working for. I am quitting soon, after all.
But there is no getting around that fact that the food is free and way better at work than at home. :)

[SwordGuy]

But there is no getting around that fact that the food is free and way better at work than at home. :)

Food wasn't free where I worked and my wife's a great cook.    I'm a passable cook who cooks well enough that I can do better than anyplace I've ever worked. :)

[webguy]

I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

I made it to $748k! Keep saving everybody!!

I made it to $988k and was getting excited... and then taxes hit! Looks like it'll be another few months yet :(

I finally did it!! Crawled over the line to $1,000,330 today!  Feels pretty surreal. Never thought I'd actually be worth a million dollars. Now I guess I keep on saving towards the next million!

Currently at $1.11m.  Don't really have a goal number at this point. I love running my own business so just tryna ride it out as long as possible and "make hay while the sun shines" as they say.

Passed the half way point!  Somehow we have $1.535m. Not sure how long the next 0.465 will take but I'll report back if we get there!

It took a little longer than I’d hoped due to the market being a douchebag lately but we Just hit 2 million today! We’re officially multi-millionaires I guess! I crunched the numbers and I think our “fat fire” number is around 2.5-3M so I’ll probably keep trucking away till we hit that, then I’m not sure what I’ll do.

Can I join your thread?  We just hit 2M yesterday! And with the friendly market today we're up another 15k already!  I'm carrying over our progress from the race to 2M thread if that's OK as I like keeping track of it this way.

Felt like we got stuck around 2.3M forever but finally hit 2.5M today! Next stop 3M... and beyond!

It’s been a long time coming but finally hit 3M today! Next stop... beyond! :)

16 more pages of this thread have gone by since I last checked in but I can now report we made it to $3.5M!  I see the name of the thread has changed so I guess I have no choice but to keep going till I get past $4M now :D

[markbike528CBX]

Awesome webguy!  I joined the forum in 2015. My progress has not been that fast, but I am FIREd since June 2018.
Any yes, you DO have a choice :-)

[Bateaux]

I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

I made it to $748k! Keep saving everybody!!

I made it to $988k and was getting excited... and then taxes hit! Looks like it'll be another few months yet :(

I finally did it!! Crawled over the line to $1,000,330 today!  Feels pretty surreal. Never thought I'd actually be worth a million dollars. Now I guess I keep on saving towards the next million!

Currently at $1.11m.  Don't really have a goal number at this point. I love running my own business so just tryna ride it out as long as possible and "make hay while the sun shines" as they say.

Passed the half way point!  Somehow we have $1.535m. Not sure how long the next 0.465 will take but I'll report back if we get there!

It took a little longer than I’d hoped due to the market being a douchebag lately but we Just hit 2 million today! We’re officially multi-millionaires I guess! I crunched the numbers and I think our “fat fire” number is around 2.5-3M so I’ll probably keep trucking away till we hit that, then I’m not sure what I’ll do.

Can I join your thread?  We just hit 2M yesterday! And with the friendly market today we're up another 15k already!  I'm carrying over our progress from the race to 2M thread if that's OK as I like keeping track of it this way.

Felt like we got stuck around 2.3M forever but finally hit 2.5M today! Next stop 3M... and beyond!

It’s been a long time coming but finally hit 3M today! Next stop... beyond! :)

16 more pages of this thread have gone by since I last checked in but I can now report we made it to $3.5M!  I see the name of the thread has changed so I guess I have no choice but to keep going till I get past $4M now :D

Incredible gains webguy.  Checking Mint, we've reached 2.4M, our gains will slow a bit since I've moved all but about 1M into safety.   Welcome back.

[itchyfeet]

Wow. At the rate you are making bank I am not sure MMM is at all relevant but still happy to watch your story with some level of awe.

I have also enjoyed an incredible run over the past 5 years, like everyone on this thread I guess, but I certainly wasn’t starting from $540K. It’s been a very investor friendly time.

[pecunia]

Wow!  Another record high!

https://www.cnbc.com/2020/02/12/us-futures-point-to-higher-open-after-stocks-hit-fresh-record-highs.html

If things keep going like this, I may actually get to 4 million dollars some day.

[DavidAnnArbor]

Well because of the frothy stock market my liquid assets crossed the $2 million mark, to $2,007,000

On top of that I have another $425,000 in equity.

The Top is In.  The market will promptly crash now.

[Dancin'Dog]

Any of you rich guys looking for a beautiful lake lot, or two?  It's a great deal, same price it was when the S&P was 50% ago.  Now's the perfect time to cash out & build your dream house, before the market crashes.   ;) 

[ysette9]

Well because of the frothy stock market my liquid assets crossed the $2 million mark, to $2,007,000

On top of that I have another $425,000 in equity.

The Top is In.  The market will promptly crash now.

Sorry for the minor correction, but a crash is scheduled for mid next month when I will be quitting work for good.

Mark your calendars, folks.

[2sk22]

Exactly twenty years ago in February 2000, I was wondering if the stock market bubble would burst and sure enough it did the very next month :-)

[soccerluvof4]

My Couch prediction is the Market really wants to get to 30/10 and then correct BUT will the Virus or Politics keep that from happening first...........

[LightTripper]

Well because of the frothy stock market my liquid assets crossed the $2 million mark, to $2,007,000

On top of that I have another $425,000 in equity.

The Top is In.  The market will promptly crash now.

Sorry for the minor correction, but a crash is scheduled for mid next month when I will be quitting work for good.

Mark your calendars, folks.

Congratulations on your impending freedom!!

Do you know the "Retired Syd" blog?  She doesn't update very much any more (because she's retired, natch) but the market crashed just after she quit work and her posts from around that time are a reassuring read (of course, the market also recovered very quickly that time, so all turned out fine: but nonetheless she writes some good stuff about the psychology of it).