Author Topic: Race from $2M to $3M.....and beyond!  (Read 46169 times)

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #350 on: April 30, 2018, 06:52:48 PM »
still hanging in there at 2.45 million. took a big hit in Jan/Feb in the market and in paying off the kitchen remodel but on the road to recovery now.  Still planning on June 1 retirement!!

At least you're well above the 2M dollar hump.  We came within $31k before the market turned.  Now we're over $90k short.  When the time comes I'm sure we'll flynright past the 2M mark.  Good luck!  June is so very close now.
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EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #351 on: May 01, 2018, 12:45:01 AM »
still hanging in there at 2.45 million. took a big hit in Jan/Feb in the market and in paying off the kitchen remodel but on the road to recovery now.  Still planning on June 1 retirement!!

At least you're well above the 2M dollar hump.  We came within $31k before the market turned.  Now we're over $90k short.  When the time comes I'm sure we'll flynright past the 2M mark.  Good luck!  June is so very close now.

In a queer opposition to frugality and Mustachianism, I'm finding that our initial forays into largess (donating more as we crest our monetary goals, and not being caught up in watching the numbers click up and down like a nightly basketball game (Go Rockets!)) are resulting in more tangible riches, both metaphysically and fundamentally. 

The world, as it is, provides 'sustainably' for our foreseeable existence, and so I give back as a gift in expectation that everyone will enjoy a similar lifestyle in the future.  I want this beautiful world to continue for our children, because it is more than I ever could have hoped for, but I do worry that it is being eroded.

I was drawn to Pete by his lofty 'save the world through environmentalism' verve. Hopefully this site doesn't end up in the dustbin of history as a money grab, since he seems pretty complacent nowadays that he's sitting on a gold mine.

I always wondered, just to be totally transparent, about how a home construction enthusiast could also be hardcore environmentalist.  There is nothing more wasteful than upgrading or gutting a home.  His description rebuilding their 2nd home ... 
Quote
The other challenge is the odd feeling of suddenly becoming one of the biggest consumers in town. Almost every day I have to buy stuff. Tools, materials, and supplies are needed in abundance for a project like this, and so I’ve spent about $20,000 in the past three months. On top of all that steel, there is a huge pile of engineered lumber taking up most of the back driveway and more deliveries on the way. I try to remind myself that it’s an investment, and the money will be returned many times over when we sell our current house (this downsizing will free up over $100,000, even after all these renovation costs). But I still see the trucks and forklifts, steel and wood, cardboard and plastic wrap, and can’t help but notice that for now I am chewing up a huge share of my own planet just to build myself a dwelling.
Transitioning to FIRE'd albeit somewhat cautiously...

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #352 on: May 03, 2018, 09:05:01 PM »
Didn't Pete also install solar panels, buy an electric car, but moreover mainly use a bicycle to get around?

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #353 on: May 10, 2018, 08:32:21 AM »
Checked off another million milestone recently (I try not to celebrate right away, just in case I meander up and down a few times, but I'm solidly there now).  Being in the oil industry doesn't hurt. 

I'm finding that my spending is beginning to tick up this year too.  I'm fortunate that this doesn't seem to be a problem.  Hope everyone's races are going well!
« Last Edit: May 10, 2018, 08:36:34 AM by EscapeVelocity2020 »
Transitioning to FIRE'd albeit somewhat cautiously...

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #354 on: May 10, 2018, 11:33:46 AM »
I'm getting closer to 2 million now that the market has gone back up, I was there in late January.

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #355 on: May 10, 2018, 08:32:01 PM »
The past few sessions have done a lot.  Within 50k or so of the 2 million liquid point.  We peaked at 1.969 million liquid previous.   The firehose is still flowing so we just need a little more market push to get past the next milestone.  I know it's only been a few months, but it seems we've been stuck in this range forever.
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MaybeBabyMustache

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Re: Race from $2M to $3M
« Reply #356 on: May 17, 2018, 04:56:09 PM »
We are past $3M with the crazy market, but plan to invest a bunch in a remodel, which may drop our cash flow, but positively increase our house value. So . . . I'll keep coming back & consider this my "home". I have no idea how property values in the bay area will continue to grow/drop/stabilize. After we pay for this remodel, we will do other facepunch worthy things like potentially buying a rental property in Hawaii. So, there's that.

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

itchyfeet

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Re: Race from $2M to $3M
« Reply #357 on: May 17, 2018, 10:58:00 PM »

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

Like you I have a house that is rather expensive, but in Sydney. Over the last year it has been dropping in value by around $10,000 a month. It is like my FIRE plans have a slow leak and I am working away feverishly to keep pumping more air in, but am proving a little ineffective due the the leak.

We internd to sell the house when we FIRE and move somewhere cheaper but for a variety of reasons are not ready to sell yet. I do hope that the slow leak does not become a full blown blow out, but I don’t think so. I do however, expect prices to continue to ease.

MaybeBabyMustache

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Re: Race from $2M to $3M.....and beyond!
« Reply #358 on: May 18, 2018, 07:23:51 AM »
that's what I worry about, @itchyfeet . We are on track for retirement without the house as anything more as shelter (e.g. no cash out), but our retirement plans would be much more flexible if the house at least maintains current value.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #359 on: May 19, 2018, 09:06:50 PM »
What if you were to sell the house now and then rent ?

MaybeBabyMustache

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Re: Race from $2M to $3M.....and beyond!
« Reply #360 on: May 20, 2018, 08:42:49 AM »
What if you were to sell the house now and then rent ?

Not sure if you're referring to me or @itchyfeet . For us, we have two kids in school, and there are few to no long term rental options in our area. We will stay the course until our youngest graduates, and then evaluate where things stand

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #361 on: May 20, 2018, 08:54:07 AM »
We are currently living in the Middle East, and our house in Sydney is rented out. Once we FIRE we will move back to Sydney and take stock of everything and start looking into where we will move to.

DW will do some casual work to pay ourselves a little rent until we move somewhere cheaper. We are thinking we might live in Sydney for 2 or 3 years after we repatriate as we would like to reconnect with friends and family, and just make sure I don’t need to go back to work to top up the finances. Job prospects for me are far better in Sydney compared to places we are considering to move to once we sell.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #362 on: May 21, 2018, 11:18:11 AM »
The past few sessions have done a lot.  Within 50k or so of the 2 million liquid point.  We peaked at 1.969 million liquid previous.   The firehose is still flowing so we just need a little more market push to get past the next milestone.  I know it's only been a few months, but it seems we've been stuck in this range forever.

Looks like we have also just crossed the $2M liquid judging by where we were when the S&P500 was at these levels in January.

It would be nice if the market started making new highs from here.. :)

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #363 on: May 21, 2018, 11:50:44 AM »
The past few sessions have done a lot.  Within 50k or so of the 2 million liquid point.  We peaked at 1.969 million liquid previous.   The firehose is still flowing so we just need a little more market push to get past the next milestone.  I know it's only been a few months, but it seems we've been stuck in this range forever.

Looks like we have also just crossed the $2M liquid judging by where we were when the S&P500 was at these levels in January.

It would be nice if the market started making new highs from here.. :)

Congrats to you freshly minted double millionaires, and here’s to yet another new mother of all tops. 😁

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #364 on: May 21, 2018, 12:07:10 PM »
Thanks Itchy.. I must say that 0.8% WR was getting scary with the market going down in Feb..:)

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #365 on: May 23, 2018, 07:03:07 PM »
2018 has seen my accounts nudge right to the edge of 2M liquid only to have the market immediately decline.   We're about to put a 20 percent down payment on a second home.  That won't be considered liquid so it may be even longer till.we reach the magic 2M liquid number.
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DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #366 on: May 23, 2018, 07:31:37 PM »
Having a second home to escape winter seems like a great idea as I get older.

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #367 on: May 23, 2018, 10:08:59 PM »
Having a second home to escape winter seems like a great idea as I get older.

The home will eventually be permanent and yes, Florida.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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Strick

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Re: Race from $2M to $3M.....and beyond!
« Reply #368 on: May 30, 2018, 07:58:35 AM »
I guess I've accidentally found myself here.  Used to make ~$120k year but was away from home traveling for work all the time, and couldn't stand the work, it was depressing.  I had always seen about $1M-$1.5M invested as the number I needed to get out as we seemed to get by fine on $50k/yr, realizing with a growing family there were a lot of unknowns.

9 years ago, at the age of 36, when I had about $300k in retirement savings and a paid for $200k house and had just had my third child I finally had the guts and the client contacts to start a business where I and my employees could all work from home, figuring if I failed I wouldn't be broke, would start a phase of semi-retirements, and most importantly at the time would just be home either way. After making less for a number of years (though plenty to cover our expenses and save well) the work and net profit exploded.  Over the past couple of years the amount of work got to me and I was close to checking out but I've since finally figured out how to shift much of the responsibility to employees and thru client partnership ventures.

Last year I netted about $500k and this year will likely be $1M+ (extremely volatile from month to month, next year could very well be $200k as it could be $1M).  For these years taxes are now by far the primary financial focus as what I'll pay in taxes this year alone is many times what we spend.  Needing new financial goals I've filled 529s to the tune of $120k for each child and started a DAF to help with taxes which I'll use throughout FIRE to make charitable donations from, and investments not including 529s have built to about $2.8M with a total net worth of about $3.6M.  We've let our spending increase and now basically buy everything we want to, go on any trip we want to (and can find the time for), etc, but for this family of 5, $100k pretty much covers all that.

The 'problem' that obviously emerged is how to downshift without quitting, as quitting is no longer the holy grail as it once was.  I feel personally obligated to employees to keep things rolling, my workday stresses me out and takes too much of my time but I certainly don't "hate" it, I'm actually quite proud of it now, and its hard to not notice what OMY of work can do right now, even though we obviously have more than enough.  I think I'm finally getting somewhere on the transfer of responsibilities and reducing stress.  Its really really funny how many people think you have a hidden agenda when you try to give up profit in return for handing off responsibility, no one seems to ever understand giving up profit potential and that has actually created some difficulties in this downshifting.

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #369 on: May 30, 2018, 12:41:58 PM »
I guess I've accidentally found myself here.  Used to make ~$120k year but was away from home traveling for work all the time, and couldn't stand the work, it was depressing.  I had always seen about $1M-$1.5M invested as the number I needed to get out as we seemed to get by fine on $50k/yr, realizing with a growing family there were a lot of unknowns.

9 years ago, at the age of 36, when I had about $300k in retirement savings and a paid for $200k house and had just had my third child I finally had the guts and the client contacts to start a business where I and my employees could all work from home, figuring if I failed I wouldn't be broke, would start a phase of semi-retirements, and most importantly at the time would just be home either way. After making less for a number of years (though plenty to cover our expenses and save well) the work and net profit exploded.  Over the past couple of years the amount of work got to me and I was close to checking out but I've since finally figured out how to shift much of the responsibility to employees and thru client partnership ventures.

Last year I netted about $500k and this year will likely be $1M+ (extremely volatile from month to month, next year could very well be $200k as it could be $1M).  For these years taxes are now by far the primary financial focus as what I'll pay in taxes this year alone is many times what we spend.  Needing new financial goals I've filled 529s to the tune of $120k for each child and started a DAF to help with taxes which I'll use throughout FIRE to make charitable donations from, and investments not including 529s have built to about $2.8M with a total net worth of about $3.6M.  We've let our spending increase and now basically buy everything we want to, go on any trip we want to (and can find the time for), etc, but for this family of 5, $100k pretty much covers all that.

The 'problem' that obviously emerged is how to downshift without quitting, as quitting is no longer the holy grail as it once was.  I feel personally obligated to employees to keep things rolling, my workday stresses me out and takes too much of my time but I certainly don't "hate" it, I'm actually quite proud of it now, and its hard to not notice what OMY of work can do right now, even though we obviously have more than enough.  I think I'm finally getting somewhere on the transfer of responsibilities and reducing stress.  Its really really funny how many people think you have a hidden agenda when you try to give up profit in return for handing off responsibility, no one seems to ever understand giving up profit potential and that has actually created some difficulties in this downshifting.
Good for you! In my career, I worked with a number of business owners. A surprising number of them kept the businesses going long after they had "enough", just to keep their employees' livelihoods intact. Eventually, many of them sold the businesses to the employees outright, often acting as the bank until they found their own footing. Win-win.
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DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #370 on: June 01, 2018, 06:09:57 PM »
Back over the 2 million dollar mark again

$1,631 in liquid net worth
$  383  in home equity if Zillow is to be believed

w@nker

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Re: Race from $2M to $3M.....and beyond!
« Reply #371 on: June 03, 2018, 08:05:47 PM »
I'll join this race.  Sounds like good company and discussion. 

Wife and I are at $2.3M net worth at 35.  I expect to hit $3M in two years at 37.  Even though we are already technically FI, we won't stop there, as we have some significant philanthropic interests that would ideally involve setting up a foundation during ER.  So, may stop at $5M in what will likely be five years at 40, or if not there, certainly the earlier of 45 or $10M.

This whole snowball thing is legit.  Insanity.

Roland of Gilead

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Re: Race from $2M to $3M.....and beyond!
« Reply #372 on: June 03, 2018, 08:34:53 PM »
We are retired but might get to the $2M mark with speculative biotech investing.  I only play around with $100k but already have generated $400,000 in gains from it.  Taxes start to put a crimp in things.


texxan1

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Re: Race from $2M to $3M.....and beyond!
« Reply #373 on: June 03, 2018, 08:46:01 PM »
I'm gonna join in this thread and see how long I can stay in it LOL

46 YO single
$1.57m in liquid assets
500k paid for house.

So that puts me barely here, going for 2m liquid before I pull the plug so should be there in about 2 years... but the more and more I calculate the more and more I think that with 1.75m liquid I can bolt..... then I will change my name to FIREnFishing

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #374 on: June 04, 2018, 07:10:32 AM »
I'm gonna join in this thread and see how long I can stay in it LOL

46 YO single
$1.57m in liquid assets
500k paid for house.

So that puts me barely here, going for 2m liquid before I pull the plug so should be there in about 2 years... but the more and more I calculate the more and more I think that with 1.75m liquid I can bolt..... then I will change my name to FIREnFishing

Wow.  I've need to FIRE quick so I can
steal FIREDnFishing as my handle. 🤣
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meatgrinder

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Re: Race from $2M to $3M.....and beyond!
« Reply #375 on: June 04, 2018, 02:46:58 PM »
I'm usually all about stealth wealth but fuck it!  Interwebs anonymity is partial stealth.....

$2.4M net worth. 38yo with stay at home wife and two young kids. Should reach $3M sometime in 2019 (market willing).  Already FI but I'm in the upside down world of not knowing what to do if I were to leave work.  Maybe once my current batch of RSUs vest in a couple years and if the wife joins the work force I'll sit on the couch and watch Jerry Springer reruns.


FireAndFree

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Re: Race from $2M to $3M.....and beyond!
« Reply #376 on: June 07, 2018, 02:33:23 AM »
Glad to join all of you on the adventure!

I'm already FIREd. My net worth is currently $2.98M. Hoping to hit $3M in the next 2-3 months.

soccerluvof4

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Re: Race from $2M to $3M.....and beyond!
« Reply #377 on: June 07, 2018, 03:04:13 AM »
I tip toed back and for over the 3 mark but did alot of remodeling, traveling and the dip in the market put me back under. Wouldnt take much to be towing the line again.
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Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #378 on: June 07, 2018, 06:21:49 AM »
I'm usually all about stealth wealth but fuck it!  Interwebs anonymity is partial stealth.....

$2.4M net worth. 38yo with stay at home wife and two young kids. Should reach $3M sometime in 2019 (market willing).  Already FI but I'm in the upside down world of not knowing what to do if I were to leave work.  Maybe once my current batch of RSUs vest in a couple years and if the wife joins the work force I'll sit on the couch and watch Jerry Springer reruns.

Stealth wealth is fabulous.   All cash-no flash. 

The last few market days have pushed us over the 2MM mark.  Putting a downpayment on the retirement house in a few weeks.   May be back in the class of 2019 if the market holds. 
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #379 on: June 07, 2018, 11:11:03 AM »
I'm usually all about stealth wealth but fuck it!  Interwebs anonymity is partial stealth.....

$2.4M net worth. 38yo with stay at home wife and two young kids. Should reach $3M sometime in 2019 (market willing).  Already FI but I'm in the upside down world of not knowing what to do if I were to leave work.  Maybe once my current batch of RSUs vest in a couple years and if the wife joins the work force I'll sit on the couch and watch Jerry Springer reruns.

Stealth wealth is fabulous.   


All cash - no flash.


The last few market ddays have pushed us over the 2MM mark.  Putting a downpayment on the retirement house in a few weeks.   May be back in the class of 2019 if the market holds.
Love this! Oh wait, is that too flashy?  It doesn't have sparkles, so it's okay, right?
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Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #380 on: June 07, 2018, 12:04:53 PM »
I'm usually all about stealth wealth but fuck it!  Interwebs anonymity is partial stealth.....

$2.4M net worth. 38yo with stay at home wife and two young kids. Should reach $3M sometime in 2019 (market willing).  Already FI but I'm in the upside down world of not knowing what to do if I were to leave work.  Maybe once my current batch of RSUs vest in a couple years and if the wife joins the work force I'll sit on the couch and watch Jerry Springer reruns.

Stealth wealth is fabulous.   


All cash - no flash.


The last few market ddays have pushed us over the 2MM mark.  Putting a downpayment on the retirement house in a few weeks.   May be back in the class of 2019 if the market holds.
Love this! Oh wait, is that too flashy?  It doesn't have sparkles, so it's okay, right?

Dicey, in my most southern accent possible.   YOU are a mess!
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #381 on: June 08, 2018, 02:31:48 AM »
I'm usually all about stealth wealth but fuck it!  Interwebs anonymity is partial stealth.....

$2.4M net worth. 38yo with stay at home wife and two young kids. Should reach $3M sometime in 2019 (market willing).  Already FI but I'm in the upside down world of not knowing what to do if I were to leave work.  Maybe once my current batch of RSUs vest in a couple years and if the wife joins the work force I'll sit on the couch and watch Jerry Springer reruns.

Stealth wealth is fabulous.   


All cash - no flash.


The last few market ddays have pushed us over the 2MM mark.  Putting a downpayment on the retirement house in a few weeks.   May be back in the class of 2019 if the market holds.
Love this! Oh wait, is that too flashy?  It doesn't have sparkles, so it's okay, right?

Dicey, in my most southern accent possible.   YOU are a mess!
Oh, Bateaux, bless your heart, thank you! (Snirt. Did you hear my southern accent too? )
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A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

MaybeBabyMustache

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Re: Race from $2M to $3M
« Reply #382 on: June 08, 2018, 08:19:57 AM »
We are past $3M with the crazy market, but plan to invest a bunch in a remodel, which may drop our cash flow, but positively increase our house value. So . . . I'll keep coming back & consider this my "home". I have no idea how property values in the bay area will continue to grow/drop/stabilize. After we pay for this remodel, we will do other facepunch worthy things like potentially buying a rental property in Hawaii. So, there's that.

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

We're now past $3.5M, which feels quite surreal. I'm a waffler on my FIRE date, but this sort of puts it into perspective. I keep promising I will set a revised target & actually do something. (Again, about 1/2 of that is in real estate, so not liquid).

Bateaux

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Re: Race from $2M to $3M
« Reply #383 on: June 08, 2018, 08:51:26 AM »
We are past $3M with the crazy market, but plan to invest a bunch in a remodel, which may drop our cash flow, but positively increase our house value. So . . . I'll keep coming back & consider this my "home". I have no idea how property values in the bay area will continue to grow/drop/stabilize. After we pay for this remodel, we will do other facepunch worthy things like potentially buying a rental property in Hawaii. So, there's that.

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

We're now past $3.5M, which feels quite surreal. I'm a waffler on my FIRE date, but this sort of puts it into perspective. I keep promising I will set a revised target & actually do something. (Again, about 1/2 of that is in real estate, so not liquid).

Pull the plug and enjoy the rest of your life.   You've won!  Now, get out there and enjoy the bliss.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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Dicey

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Re: Race from $2M to $3M
« Reply #384 on: June 08, 2018, 09:02:38 AM »
We are past $3M with the crazy market, but plan to invest a bunch in a remodel, which may drop our cash flow, but positively increase our house value. So . . . I'll keep coming back & consider this my "home". I have no idea how property values in the bay area will continue to grow/drop/stabilize. After we pay for this remodel, we will do other facepunch worthy things like potentially buying a rental property in Hawaii. So, there's that.

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

We're now past $3.5M, which feels quite surreal. I'm a waffler on my FIRE date, but this sort of puts it into perspective. I keep promising I will set a revised target & actually do something. (Again, about 1/2 of that is in real estate, so not liquid).

Pull the plug and enjoy the rest of your life.   You've won!  Now, get out there and enjoy the bliss.
That's me, over here, waving from my corner of the Bay Area, in my stupidly expensive house, not mansion.  My vote is eerily similar to Bateaux'. Get out there and enjoy the days as soon as you can!
I did it! I have a journal!
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markbike528CBX

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Re: Race from $2M to $3M
« Reply #385 on: June 08, 2018, 09:11:33 AM »
We are past $3M with the crazy market, but plan to invest a bunch in a remodel, which may drop our cash flow, but positively increase our house value. So . . . I'll keep coming back & consider this my "home". I have no idea how property values in the bay area will continue to grow/drop/stabilize. After we pay for this remodel, we will do other facepunch worthy things like potentially buying a rental property in Hawaii. So, there's that.

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

We're now past $3.5M, which feels quite surreal. I'm a waffler on my FIRE date, but this sort of puts it into perspective. I keep promising I will set a revised target & actually do something. (Again, about 1/2 of that is in real estate, so not liquid).

Pull the plug and enjoy the rest of your life.   You've won!  Now, get out there and enjoy the bliss.

@Bateaux, great advice!   You should take your own advice seriously.  Since you are in this thread, you should consider joining us in the 2018 cohort.  As OP of the 2019 thread, you have my permission, if that's what it takes :-)

MaybeBabyMustache

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Re: Race from $2M to $3M
« Reply #386 on: June 08, 2018, 09:13:48 AM »
We are past $3M with the crazy market, but plan to invest a bunch in a remodel, which may drop our cash flow, but positively increase our house value. So . . . I'll keep coming back & consider this my "home". I have no idea how property values in the bay area will continue to grow/drop/stabilize. After we pay for this remodel, we will do other facepunch worthy things like potentially buying a rental property in Hawaii. So, there's that.

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

We're now past $3.5M, which feels quite surreal. I'm a waffler on my FIRE date, but this sort of puts it into perspective. I keep promising I will set a revised target & actually do something. (Again, about 1/2 of that is in real estate, so not liquid).

Pull the plug and enjoy the rest of your life.   You've won!  Now, get out there and enjoy the bliss.
That's me, over here, waving from my corner of the Bay Area, in my stupidly expensive house, not mansion.  My vote is eerily similar to Bateaux'. Get out there and enjoy the days as soon as you can!

Whereabouts are you, Dicey? My current conundrum is, while I'm totally done with work (in my mind, haha), I've been offered an opportunity to have a side role (with current company) where I can teach leadership & development classes. I've always thought that would be something I'd want to try out in a flexible FIRE world, and this would be a risk free way to do that. Also, one of my people managers is leaving at the end of the month, and if I also leave, it would make things incredibly challenging for some of my favorite people at work. But, there is never a good time, and I need to remind myself of that. I've promised myself that a realistic end date (no wiggle room, no excuses) is something I need to come to emotional grips with.

Dicey

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Re: Race from $2M to $3M
« Reply #387 on: June 08, 2018, 09:41:26 AM »
We are past $3M with the crazy market, but plan to invest a bunch in a remodel, which may drop our cash flow, but positively increase our house value. So . . . I'll keep coming back & consider this my "home". I have no idea how property values in the bay area will continue to grow/drop/stabilize. After we pay for this remodel, we will do other facepunch worthy things like potentially buying a rental property in Hawaii. So, there's that.

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

We're now past $3.5M, which feels quite surreal. I'm a waffler on my FIRE date, but this sort of puts it into perspective. I keep promising I will set a revised target & actually do something. (Again, about 1/2 of that is in real estate, so not liquid).

Pull the plug and enjoy the rest of your life.   You've won!  Now, get out there and enjoy the bliss.
That's me, over here, waving from my corner of the Bay Area, in my stupidly expensive house, not mansion.  My vote is eerily similar to Bateaux'. Get out there and enjoy the days as soon as you can!

Whereabouts are you, Dicey? My current conundrum is, while I'm totally done with work (in my mind, haha), I've been offered an opportunity to have a side role (with current company) where I can teach leadership & development classes. I've always thought that would be something I'd want to try out in a flexible FIRE world, and this would be a risk free way to do that. Also, one of my people managers is leaving at the end of the month, and if I also leave, it would make things incredibly challenging for some of my favorite people at work. But, there is never a good time, and I need to remind myself of that. I've promised myself that a realistic end date (no wiggle room, no excuses) is something I need to come to emotional grips with.
One of the many gifts of having cancer in my early twenties is that I deeply understand how much it's not about work. It will always go on without me, no matter how fantastic I was at my job (Hint: quite competent, but no superstar). Same for my Post-FIRE volunteer activities. As to my whereabouts, I'll PM you. I may or may not be in the Witness* Protection Program.

* I live fairly close to a religious denomination's main meeting place. They regularly knock on my door. I call them my WPP and I'm always nice to them when I open the door.
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

Bateaux

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Re: Race from $2M to $3M
« Reply #388 on: June 08, 2018, 10:40:23 AM »
We are past $3M with the crazy market, but plan to invest a bunch in a remodel, which may drop our cash flow, but positively increase our house value. So . . . I'll keep coming back & consider this my "home". I have no idea how property values in the bay area will continue to grow/drop/stabilize. After we pay for this remodel, we will do other facepunch worthy things like potentially buying a rental property in Hawaii. So, there's that.

I'm concerned that the housing market just cannot maintain its current trajectory. I'm in the Bay Area. We've past the $3.4M mark, but much of that is in real estate, which is . . . unsteady IMO.

We're now past $3.5M, which feels quite surreal. I'm a waffler on my FIRE date, but this sort of puts it into perspective. I keep promising I will set a revised target & actually do something. (Again, about 1/2 of that is in real estate, so not liquid).

Pull the plug and enjoy the rest of your life.   You've won!  Now, get out there and enjoy the bliss.

@Bateaux, great advice!   You should take your own advice seriously.  Since you are in this thread, you should consider joining us in the 2018 cohort.  As OP of the 2019 thread, you have my permission, if that's what it takes :-)

We're absolutely working on it.   2019 is the earliest unfortunately.   We have two sons to keep in health care a we bit longer and help eject them into the working world.   BUT!  It is possible it's months to go and not years at this point.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #389 on: June 08, 2018, 11:20:23 AM »
If you're house rich you should consider Harry Sit's blog about how to utilize that toward financing one's life, and not have to move.

https://thefinancebuff.com/fund-retirement-paid-off-home.html

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #390 on: June 08, 2018, 04:16:56 PM »
S&P500 a mere 3.2% below all time high..:)

That puts us at about 2.544M if I count the silly pension valuations and probably cracks the $3M mark with house.

All seems quite surreal.

Now we have just dropped some serious coin this month i.e..

$4000 on new deck materials
$1000 on my TIG welding set up
$1700 on flights to Europe.

All said and done we will probably spend $40k this year.. but we get $20k in rent.. Like when will I stop worrying that we don't have enough $$$?

Habits of a lifetime I guess?

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #391 on: June 08, 2018, 08:54:22 PM »
S&P500 a mere 3.2% below all time high..:)

That puts us at about 2.544M if I count the silly pension valuations and probably cracks the $3M mark with house.

All seems quite surreal.

Now we have just dropped some serious coin this month i.e..

$4000 on new deck materials
$1000 on my TIG welding set up
$1700 on flights to Europe.

All said and done we will probably spend $40k this year.. but we get $20k in rent.. Like when will I stop worrying that we don't have enough $$$?

Habits of a lifetime I guess?

Love it.  Keep us posted.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
 ― Antoine de Saint Exupery-

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FireAndFree

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Re: Race from $2M to $3M.....and beyond!
« Reply #392 on: June 10, 2018, 03:19:15 AM »
Well that happened faster than expected. We just crossed the $3M mark. I guess it's time for a new thread?

Roland of Gilead

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Re: Race from $2M to $3M.....and beyond!
« Reply #393 on: June 10, 2018, 08:12:41 AM »
Well that happened faster than expected. We just crossed the $3M mark. I guess it's time for a new thread?

Might want to recalculate on Monday evening before getting too excited.   I think Trump's G7 tantrum is going to bring markets down 1% to 2% on Monday.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #394 on: June 10, 2018, 10:32:44 AM »
Nice job though.. Is that liquid or does that include the house?

Personally I ignore the house because its not clear to me how to accurately value it, so in effect you end up guessing at a number which seems less than meaningful to me at least.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #395 on: June 10, 2018, 07:59:19 PM »
Well that happened faster than expected. We just crossed the $3M mark. I guess it's time for a new thread?

Might want to recalculate on Monday evening before getting too excited.   I think Trump's G7 tantrum is going to bring markets down 1% to 2% on Monday.


Yes on that. And if Trump bungles us into a war with North Korea and/or Iran you can expect a 70% drop in the stock market.

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #396 on: June 10, 2018, 09:14:36 PM »
Well that happened faster than expected. We just crossed the $3M mark. I guess it's time for a new thread?

Might want to recalculate on Monday evening before getting too excited.   I think Trump's G7 tantrum is going to bring markets down 1% to 2% on Monday.


Yes on that. And if Trump bungles us into a war with North Korea and/or Iran you can expect a 70% drop in the stock market.
70%? Really? Is that a promise?  If it is, I'll be scrounging up all the cash I can and going on a stock shopping spree. Yippee!
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

Roland of Gilead

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Re: Race from $2M to $3M.....and beyond!
« Reply #397 on: June 10, 2018, 09:52:52 PM »
70%? Really? Is that a promise?  If it is, I'll be scrounging up all the cash I can and going on a stock shopping spree. Yippee!

If we get in a war with North Korea, which will probably draw in China and some type of nuclear exchange, you can go on a stock shopping spree while I go to Costco and buy bulk everything that lasts for awhile.

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #398 on: June 11, 2018, 12:05:26 AM »
70%? Really? Is that a promise?  If it is, I'll be scrounging up all the cash I can and going on a stock shopping spree. Yippee!

If we get in a war with North Korea, which will probably draw in China and some type of nuclear exchange, you can go on a stock shopping spree while I go to Costco and buy bulk everything that lasts for awhile.
Lol, I live in earthquake country and Costco is my usual grocery store, so we're fairly well covered in terms of supplies. I was mostly gently poking fun at the precision of DAA's prediction. 70%? Okay. I'm not going to shy away from stock shopping if a big drop happens.
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #399 on: June 11, 2018, 06:59:33 AM »
70%? Really? Is that a promise?  If it is, I'll be scrounging up all the cash I can and going on a stock shopping spree. Yippee!

If we get in a war with North Korea, which will probably draw in China and some type of nuclear exchange, you can go on a stock shopping spree while I go to Costco and buy bulk everything that lasts for awhile.
Lol, I live in earthquake country and Costco is my usual grocery store, so we're fairly well covered in terms of supplies. I was mostly gently poking fun at the precision of DAA's prediction. 70%? Okay. I'm not going to shy away from stock shopping if a big drop happens.

Ohhh nooo!  It's too late to buy beans!  Buy bullets!
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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