Author Topic: Race from $2M to $3M.....and beyond!  (Read 69870 times)

Melisande

  • Stubble
  • **
  • Posts: 228
Re: Race from $2M to $3M.....and beyond!
« Reply #400 on: July 09, 2018, 04:06:31 PM »
Just did my semi-annual net worth calculation and we are now at $2,350,000, up $122,000 from the beginning of the year. Yay!

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #401 on: July 09, 2018, 05:03:02 PM »
Nice, so thats a 5.4% increase. But the S&P 500 is only up 3.2% (plus dividends).

So clearly you are invested in something that has paid a higher return.. Is a bunch of this home equity perhaps?

Care to share?

2Birds1Stone

  • Magnum Stache
  • ******
  • Posts: 4688
  • Age: 31
  • Location: Earth
  • K Thnx Bye
Re: Race from $2M to $3M.....and beyond!
« Reply #402 on: July 09, 2018, 05:06:38 PM »
Nice, so thats a 5.4% increase. But the S&P 500 is only up 3.2% (plus dividends).

So clearly you are invested in something that has paid a higher return.. Is a bunch of this home equity perhaps?

Care to share?
Contributions?

Sent from my SAMSUNG-SM-G930A using Tapatalk


Melisande

  • Stubble
  • **
  • Posts: 228
Re: Race from $2M to $3M.....and beyond!
« Reply #403 on: July 09, 2018, 05:57:54 PM »
Nice, so thats a 5.4% increase. But the S&P 500 is only up 3.2% (plus dividends).

So clearly you are invested in something that has paid a higher return.. Is a bunch of this home equity perhaps?

Care to share?

About $30,000 is additional home equity. We also contributed about $25,000 from current income, so that makes only about $67,000 investment returns. We have $1,920,000 in investments, so that means about a 3.5% return. Not that much above the market.  We just have a lot of high risk/high reward index funds with TIAA & Vanguard.

Bateaux

  • Handlebar Stache
  • *****
  • Posts: 1251
  • Location: Port Vincent
Re: Race from $2M to $3M.....and beyond!
« Reply #404 on: July 09, 2018, 11:44:32 PM »
I've dropped out of the 2MM plus club again.  Down payment and closing costs on Florida retirement home sucked away cash.  Sucks to be in debt again, even though it's less than 10 percent of our net worth.  I don't like counting real estate as an asset.  Now on to rebuilding the cash kitty so FIRE can get back on schedule.   Retirement accounts are blossoming nicely however.   

itchyfeet

  • Pencil Stache
  • ****
  • Posts: 639
Re: Race from $2M to $3M.....and beyond!
« Reply #405 on: July 10, 2018, 01:59:00 AM »
I've dropped out of the 2MM plus club again.  Down payment and closing costs on Florida retirement home sucked away cash.  Sucks to be in debt again, even though it's less than 10 percent of our net worth.  I don't like counting real estate as an asset.  Now on to rebuilding the cash kitty so FIRE can get back on schedule.   Retirement accounts are blossoming nicely however.

Easy come, easy go

MaybeBabyMustache

  • Handlebar Stache
  • *****
  • Posts: 1381
Re: Race from $2M to $3M.....and beyond!
« Reply #406 on: July 10, 2018, 11:21:11 AM »
Just wrapped up our mid year check in, and we're at $3.7M. (This includes our house value). We started the year at $2.9ish, so it's a good uptick. Gains are coming from: additional 401K investment (we max in January from our bonuses), stock market, corporate stock vests (part of our overall compensation package) + quite a big swing in housing value.

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #407 on: July 10, 2018, 11:36:45 AM »
Nice job on the 3.7M..:)

I have not added ours up but looking at the S&P500 we should be over $2M Liquid and pension valuations have increased to about $525k.

House seems to be worth about $500k but thats a SWAG due to very few direct comps in the area.

So roughly $3M total. No savings growth as we have FIRED.

Seems kind of irrelevant though as we will barely crack a 1% WR this year.

Saving4Fire

  • 5 O'Clock Shadow
  • *
  • Posts: 55
Re: Race from $2M to $3M.....and beyond!
« Reply #408 on: July 31, 2018, 01:17:07 PM »
I'm in the 1-2m club, however yesterday my wife received unexpectedly good news (not inheritance) and in the next few weeks we're going to be in the "and beyond" club.   I'm in a state of shock and I'm currently trying to reorient my life expectations.
« Last Edit: July 31, 2018, 01:18:48 PM by Saving4Fire »

MaybeBabyMustache

  • Handlebar Stache
  • *****
  • Posts: 1381
Re: Race from $2M to $3M.....and beyond!
« Reply #409 on: July 31, 2018, 01:26:18 PM »
I'm in the 1-2m club, however yesterday my wife received unexpectedly good news (not inheritance) and in the next few weeks we're going to be in the "and beyond" club.   I'm in a state of shock and I'm currently trying to reorient my life expectations.

Wow - that's great news! How are you thinking of adjusting your plans given the news?

Saving4Fire

  • 5 O'Clock Shadow
  • *
  • Posts: 55
Re: Race from $2M to $3M.....and beyond!
« Reply #410 on: July 31, 2018, 02:03:17 PM »
I'm in the 1-2m club, however yesterday my wife received unexpectedly good news (not inheritance) and in the next few weeks we're going to be in the "and beyond" club.   I'm in a state of shock and I'm currently trying to reorient my life expectations.

Wow - that's great news! How are you thinking of adjusting your plans given the news?

To be candid, I don't know and I'm still trying to process the change.  After this transaction completes we'll be worth around 3.5m.   We're dual income professionals with no kids in our early 40's, so we have a lot of options.

I'm sure this money will be in a trust for my wife, so technically if we ever divorce I wouldn't see any of it, which I'm fine with.   Regardless, this is a big change for me.  Most of our current net worth (1.75m) is from my super saver ways and higher compensation. Conversely, my wife is more of a spendypants by MMM standards (but way better than the average American).   I've never resented her spending and lower savings rate, however I planned on working longer to ensure she can retire comfortably too.   However, now that she has a large nest egg my decisions can be more selfish.

That said, I really like my job and I don't see myself leaving in the foreseeable future... but you never know.

It's also worth adding - her compensation is really starting to take off and she has no desire to retire, which I'm also fine with.   I'm more than happy to have her be the breadwinner of the family.  :)
« Last Edit: July 31, 2018, 02:28:11 PM by Saving4Fire »

itchyfeet

  • Pencil Stache
  • ****
  • Posts: 639
Re: Race from $2M to $3M.....and beyond!
« Reply #411 on: July 31, 2018, 08:56:37 PM »
My progress is quite slow these days due to my House in Sydney dropping in value by around $170K over the past 12 months.... luckily that AUD and not USD I suppose.


Bateaux

  • Handlebar Stache
  • *****
  • Posts: 1251
  • Location: Port Vincent
Re: Race from $2M to $3M.....and beyond!
« Reply #412 on: July 31, 2018, 09:12:45 PM »
Still temporally out of the 2MM class.  Buying the house in Florida stripped us of cash for the downpayment.   We're gaining that ground back rapidly though.  Got an offer to sell our least valuable real estate, a non-rented rental.  That would get us well on our way and rebuild our cash.  I don't consider real estate as an asset, more a liability and money pit in my experience.   JL Collins has it right, rent a nice place and let the landlord fix the toilets.   I should have followed his advice.

itchyfeet

  • Pencil Stache
  • ****
  • Posts: 639
Re: Race from $2M to $3M.....and beyond!
« Reply #413 on: August 01, 2018, 01:41:17 AM »
Still temporally out of the 2MM class.  Buying the house in Florida stripped us of cash for the downpayment.   We're gaining that ground back rapidly though.  Got an offer to sell our least valuable real estate, a non-rented rental.  That would get us well on our way and rebuild our cash.  I don't consider real estate as an asset, more a liability and money pit in my experience.   JL Collins has it right, rent a nice place and let the landlord fix the toilets.   I should have followed his advice.

In my case, I have made a good portion of my NW from property capital gains. But, now I have a stash, my appetite for further property speculation is pretty much zero. Slowly rebalancing to mostly stocks.


bigchrisb

  • Handlebar Stache
  • *****
  • Posts: 1114
Re: Race from $2M to $3M.....and beyond!
« Reply #414 on: August 01, 2018, 01:44:59 AM »
I've ticked up to $3.2m, mostly from stock market appreciation (Australian shares).  I'm up $267k since leaving my main job at the start of October last year, so nice to know I've dodged at least the first year of sequence of returns risk.   Income from investments (less interest) look like $126k this year, with spending well below that.  Staying in the $3m bracket really depends on what the markets choose to do.

Bateaux

  • Handlebar Stache
  • *****
  • Posts: 1251
  • Location: Port Vincent
Re: Race from $2M to $3M.....and beyond!
« Reply #415 on: August 01, 2018, 02:48:39 AM »
Still temporally out of the 2MM class.  Buying the house in Florida stripped us of cash for the downpayment.   We're gaining that ground back rapidly though.  Got an offer to sell our least valuable real estate, a non-rented rental.  That would get us well on our way and rebuild our cash.  I don't consider real estate as an asset, more a liability and money pit in my experience.   JL Collins has it right, rent a nice place and let the landlord fix the toilets.   I should have followed his advice.

In my case, I have made a good portion of my NW from property capital gains. But, now I have a stash, my appetite for further property speculation is pretty much zero. Slowly rebalancing to mostly stocks.

Some can work real estate to their advantage.  I just seem to lack the skill. 

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #416 on: August 01, 2018, 07:42:08 AM »
Still temporally out of the 2MM class.  Buying the house in Florida stripped us of cash for the downpayment.   We're gaining that ground back rapidly though.  Got an offer to sell our least valuable real estate, a non-rented rental.  That would get us well on our way and rebuild our cash.  I don't consider real estate as an asset, more a liability and money pit in my experience.   JL Collins has it right, rent a nice place and let the landlord fix the toilets.   I should have followed his advice.

In my case, I have made a good portion of my NW from property capital gains. But, now I have a stash, my appetite for further property speculation is pretty much zero. Slowly rebalancing to mostly stocks.

Funny how that happens. Our house (complete with rentals) has gradually reduced from 100% of our net worth to about 16%.

At one time I was "landlord of the year".. Now I secretly hope my renters burn the rental trailer house to the ground and leave!

Maybe then I could sell our property and then lease it back from the new owner?...:)
« Last Edit: August 01, 2018, 08:16:27 AM by Exflyboy »

Dicey

  • Walrus Stache
  • *******
  • Posts: 8727
  • Age: 60
  • Location: NorCal
Re: Race from $2M to $3M.....and beyond!
« Reply #417 on: August 01, 2018, 08:12:38 AM »
Still temporally out of the 2MM class.  Buying the house in Florida stripped us of cash for the downpayment.   We're gaining that ground back rapidly though.  Got an offer to sell our least valuable real estate, a non-rented rental.  That would get us well on our way and rebuild our cash.  I don't consider real estate as an asset, more a liability and money pit in my experience.   JL Collins has it right, rent a nice place and let the landlord fix the toilets.   I should have followed his advice.

In my case, I have made a good portion of my NW from property capital gains. But, now I have a stash, my appetite for further property speculation is pretty much zero. Slowly rebalancing to mostly stocks.

Some can work real estate to their advantage.  I just seem to lack the skill.
Time heals all wounds. It also creates a lot of real estate "success" stories.

In many cases, the investor would have done better in equities, but the threat of losing their home forces people to make mortgage payments. Without that incentive, humans are far less likely to fill their investment accounts with similar vigor.


itchyfeet

  • Pencil Stache
  • ****
  • Posts: 639
Re: Race from $2M to $3M.....and beyond!
« Reply #418 on: August 01, 2018, 11:34:41 AM »
Residential property has averaged 10.2% pa returns in Australia over the past 20 years (source: Russell Investments Long aterm Investing Report 2018). And with generous tax incentives adding fuel to the fire itís been an easy way to accumulate wealth.

But, of course such gains for an asset that provides no more and no less than it did 20 years ago must come to an end, and in fact globally there is a retreat in residential real estate prices in most major cities. The party is over, banks and governments have realised the dangers of the entire population being ridiculously leveraged, and speculator money is moving elsewhere. Unlike stocks there is a limit to what houses are worth, as ultimately housing needs to be able to be afforded by the local population.

I know I should sell my Sydney house, prices will certainly retreat further, but there is this damn emotional attachment which is stopping us pull the trigger for the time being.

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #419 on: August 01, 2018, 02:33:20 PM »
10.2% for 20 years?..Damn!

itchyfeet

  • Pencil Stache
  • ****
  • Posts: 639
Re: Race from $2M to $3M.....and beyond!
« Reply #420 on: August 01, 2018, 08:39:36 PM »
10.2% for 20 years?..Damn!

Yeah, if only I had a crystal ball in my early 20s

Meanwhile Australian shares would have given you 8.8%pa
« Last Edit: August 01, 2018, 08:42:11 PM by itchyfeet »

Bateaux

  • Handlebar Stache
  • *****
  • Posts: 1251
  • Location: Port Vincent
Re: Race from $2M to $3M.....and beyond!
« Reply #421 on: August 01, 2018, 08:46:44 PM »
10.2% for 20 years?..Damn!

Yeah, if only I had a crystal ball in my early 20s

Meanwhile Australian shares would have given you 8.8%pa

Holy crap!  How do young people ever save enough to buy a house in a market like that. 

itchyfeet

  • Pencil Stache
  • ****
  • Posts: 639
Re: Race from $2M to $3M.....and beyond!
« Reply #422 on: August 01, 2018, 09:35:19 PM »
Generally they canít. Parents, who own homes, are often footing the deposit. Young people are now far more likely to rent and invest in stocks than previous generations.

The whole thing is really unhealthy and totally unsustainable.

But as I said, the govt has realized a bit late that high house prices is not a good thing and has taken some measures to make housing investment less attractive to foreign investors, and had increased lending standards to reduce the capacity of locals to borrow so much. More still needs to be done, and will be with time I am sure. But unwinding the bubble needs to be done very slowly to avoid huge negative impacts on the economy.

If the last 20 years had 10.2% growth pa, I would expect the next 10 years to have less than 2% growth pa.


Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #423 on: August 01, 2018, 10:36:58 PM »
or -2%

DavidAnnArbor

  • Handlebar Stache
  • *****
  • Posts: 1803
  • Age: 53
  • Location: Ann Arbor, Michigan
Re: Race from $2M to $3M.....and beyond!
« Reply #424 on: August 02, 2018, 06:54:27 AM »
I think Australia is in the unusual situation of not having had a recession in like 20 years or more.

itchyfeet

  • Pencil Stache
  • ****
  • Posts: 639
Re: Race from $2M to $3M.....and beyond!
« Reply #425 on: August 02, 2018, 11:34:47 AM »

itchyfeet

  • Pencil Stache
  • ****
  • Posts: 639
Re: Race from $2M to $3M.....and beyond!
« Reply #426 on: August 02, 2018, 11:36:42 AM »
I think Australia is in the unusual situation of not having had a recession in like 20 years or more.

Technically this is correct, although it does seem there was a small amount of cooking the books to keep this pretty impressive fact alive.

bigchrisb

  • Handlebar Stache
  • *****
  • Posts: 1114
Re: Race from $2M to $3M.....and beyond!
« Reply #427 on: August 02, 2018, 02:10:49 PM »
I think Australia is in the unusual situation of not having had a recession in like 20 years or more.
Not since 1991 on official stats.  Sydney real estate is particularly warped. Over 80 suburbs have median prices above $2m, there as 5 years ago that list was 5 rich enclaves.  There are plenty of Sydneysiders that would be in the $2m club, based only on buying their house 20 years ago. Combined with construction being 9% of Australian employment, when it unwinds my opinion is that it will get ugly. I'll be happy holding my home, and a good chunk of international index funds.

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #428 on: August 04, 2018, 12:11:23 PM »
Well as of the market close Friday our NW has hit a new high.. Even with with a small drawdown (FIRED).

This includes savings plus pension valuations.. Our savings are still slightly under the peak in January

JoJoP

  • 5 O'Clock Shadow
  • *
  • Posts: 93
Re: Race from $2M to $3M.....and beyond!
« Reply #429 on: August 07, 2018, 06:41:47 PM »
Well as of the market close Friday our NW has hit a new high.. Even with with a small drawdown (FIRED).

This includes savings plus pension valuations.. Our savings are still slightly under the peak in January

YAY!  That's great news Exflyboy!  Did you FIRE?  How's life treating ya now?

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #430 on: August 07, 2018, 07:14:58 PM »
Well as of the market close Friday our NW has hit a new high.. Even with with a small drawdown (FIRED).

This includes savings plus pension valuations.. Our savings are still slightly under the peak in January

YAY!  That's great news Exflyboy!  Did you FIRE?  How's life treating ya now?

I did I have not done any paid work for over 2 years now. Life is great although I have been getting a bit lazy mainly because its so hot.

I'm thinking I'm at the point where not having a job feels normal...:)

Maybe I'll do a little paid work at some point, or maybe not!

Life is really pretty freaking awesome all in all..:)

Bateaux

  • Handlebar Stache
  • *****
  • Posts: 1251
  • Location: Port Vincent
Re: Race from $2M to $3M.....and beyond!
« Reply #431 on: August 08, 2018, 05:01:51 AM »
A few paychecks, dividends and upticks in the market has us back over 2MM again.  The FIRE goal of 2.5MM will hopefully develop by August 2020.  August 2020 will be here quickly.   It took me almost six months to find a house for retirement and close on the loan.  That time flew by.

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #432 on: August 08, 2018, 12:04:09 PM »
A few paychecks, dividends and upticks in the market has us back over 2MM again.  The FIRE goal of 2.5MM will hopefully develop by August 2020.  August 2020 will be here quickly.   It took me almost six months to find a house for retirement and close on the loan.  That time flew by.

There you go.. I knew you had to be close..:)

MiserlyMiser

  • 5 O'Clock Shadow
  • *
  • Posts: 69
Re: Race from $2M to $3M.....and beyond!
« Reply #433 on: August 22, 2018, 04:00:32 PM »
Hi, all!  Iím in the club. I canít tell anyone IRL, and it feels weird to say it even here. Iím well past what I thought was my FIRE number, so Iím trying to get used to the idea of retiring, and also to practice not panicking at market fluctuations (Iím mainly invested in equities, although Iíve been diversifying more lately). 
It feels like Iíve been stalled out at the same NW for a while, but I think it might just be that as my NW has grown, my contributions have become less important compared to investment growth, so the rate of growth has slowed down, while in absolute terms Iím still plugging along as before.

Bateaux

  • Handlebar Stache
  • *****
  • Posts: 1251
  • Location: Port Vincent
Re: Race from $2M to $3M.....and beyond!
« Reply #434 on: August 23, 2018, 12:49:07 AM »
Hi, all!  Iím in the club. I canít tell anyone IRL, and it feels weird to say it even here. Iím well past what I thought was my FIRE number, so Iím trying to get used to the idea of retiring, and also to practice not panicking at market fluctuations (Iím mainly invested in equities, although Iíve been diversifying more lately). 
It feels like Iíve been stalled out at the same NW for a while, but I think it might just be that as my NW has grown, my contributions have become less important compared to investment growth, so the rate of growth has slowed down, while in absolute terms Iím still plugging along as before.

Welcome to the 2 comma and beyond club.  If you are like me, that second million was almost too easy.   Now what you save has less impact on growth.  The wealth has become self replicating.   A little over a month ago we put a down payment on a second home.   That knocked down our accounts a bit.  We've almost recovered that money in a little over a month.  Sometimes I think this can't be legal.

MiserlyMiser

  • 5 O'Clock Shadow
  • *
  • Posts: 69
Re: Race from $2M to $3M.....and beyond!
« Reply #435 on: August 23, 2018, 09:25:07 AM »
Hi, all!  I’m in the club. I can’t tell anyone IRL, and it feels weird to say it even here. I’m well past what I thought was my FIRE number, so I’m trying to get used to the idea of retiring, and also to practice not panicking at market fluctuations (I’m mainly invested in equities, although I’ve been diversifying more lately). 
It feels like I’ve been stalled out at the same NW for a while, but I think it might just be that as my NW has grown, my contributions have become less important compared to investment growth, so the rate of growth has slowed down, while in absolute terms I’m still plugging along as before.

Welcome to the 2 comma and beyond club.  If you are like me, that second million was almost too easy.   Now what you save has less impact on growth.  The wealth has become self replicating.   A little over a month ago we put a down payment on a second home.   That knocked down our accounts a bit.  We've almost recovered that money in a little over a month.  Sometimes I think this can't be legal.

I tend to notice the negative more, and it feels so absurd to see my NW take a $50k+ hit in a single day (rare, but it happens)—that’s more than some of my friends/family make in a year!!!!  Somehow that makes more of an impact than when my NW is back to where it was 2 days later.
« Last Edit: August 23, 2018, 09:27:46 AM by MiserlyMiser »

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #436 on: August 23, 2018, 04:21:50 PM »
It does feel like the good times are coming to a close. I rebalanced the portfolio today as stock ETFs hit 84% of the total..

We are now running 80/20 (stock/bond) ignoring the pensions. If the market tanks I'll happily roll to 90/10..:)

Nobody really knows of course.

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #437 on: August 24, 2018, 12:11:02 PM »
And of course I rebalanced at exactly the wrong time.. Well not really..:)

I was just thinking that if the market holds close to its current numbers that most of the people on this forum will be the richest they have ever been!

Thats pretty cool!

Dicey

  • Walrus Stache
  • *******
  • Posts: 8727
  • Age: 60
  • Location: NorCal
Re: Race from $2M to $3M.....and beyond!
« Reply #438 on: August 24, 2018, 05:07:59 PM »
And of course I rebalanced at exactly the wrong time.. Well not really..:)

I was just thinking that if the market holds close to its current numbers that most of the people on this forum will be the richest they have ever been!

Thats pretty cool!
Aw hell, EFB, every day I'm the richest I've ever been, no matter what the stock market does.

Bateaux

  • Handlebar Stache
  • *****
  • Posts: 1251
  • Location: Port Vincent
Re: Race from $2M to $3M.....and beyond!
« Reply #439 on: August 25, 2018, 03:01:54 AM »
And of course I rebalanced at exactly the wrong time.. Well not really..:)

I was just thinking that if the market holds close to its current numbers that most of the people on this forum will be the richest they have ever been!

Thats pretty cool!
Aw hell, EFB, every day I'm the richest I've ever been, no matter what the stock market does.

Well said Dicey.   

By the way we are at a new high point as of today. 

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #440 on: August 26, 2018, 11:14:05 PM »
Rich as well as wealthy..:)

PhrugalPhan

  • Stubble
  • **
  • Posts: 147
  • Age: 56
  • Location: No. VA
Re: Race from $2M to $3M.....and beyond!
« Reply #441 on: August 27, 2018, 04:53:15 PM »
Hi, all!  Iím in the club. I canít tell anyone IRL, and it feels weird to say it even here. Iím well past what I thought was my FIRE number, so Iím trying to get used to the idea of retiring, and also to practice not panicking at market fluctuations (Iím mainly invested in equities, although Iíve been diversifying more lately). 
It feels like Iíve been stalled out at the same NW for a while, but I think it might just be that as my NW has grown, my contributions have become less important compared to investment growth, so the rate of growth has slowed down, while in absolute terms Iím still plugging along as before.

Welcome to the 2 comma and beyond club.  If you are like me, that second million was almost too easy.   Now what you save has less impact on growth.  The wealth has become self replicating.   A little over a month ago we put a down payment on a second home.   That knocked down our accounts a bit.  We've almost recovered that money in a little over a month.  Sometimes I think this can't be legal.
To make it to this group I had to include my GF's TSP numbers and our pensions.  Just today if I add in all my financial numbers (add in $35k in savings), my total is $955k, her's is up to $1,058k.  We're over $2 Mil!!!.  And I don't have to include my house (paid off), nor either of our pensions ($30k/yr for her starting this January - I'm vested at $31k/yr starting in 4 years).  And she finally realizes our finances will be fine (she was STILL worrying???).  We need to work on merging our households this winter and fix up my house but having money will make things happen.

And beyond that, I just visited my mother this weekend.  She's self employed at 72, still very active, travelling to Europe yearly, and now I find she has much more money than I ever realized (over $600k).   And she is just finishing upgrading the last room in her house.  So I'm not worrying about her finances either.

But yeah, back to the Miser's point, it still doesn't feel like we are rich, but compared to an extreme percentage we are.  Crazy....

JoJoP

  • 5 O'Clock Shadow
  • *
  • Posts: 93
Re: Race from $2M to $3M.....and beyond!
« Reply #442 on: August 27, 2018, 05:07:50 PM »
Hi, all!  Iím in the club. I canít tell anyone IRL, and it feels weird to say it even here.


Welcome, Miserly!
I felt that way at first, but, with practice, I own it now.  (WHOOOO HOOOO!) 
« Last Edit: August 27, 2018, 05:10:19 PM by JoJoP »

Bateaux

  • Handlebar Stache
  • *****
  • Posts: 1251
  • Location: Port Vincent
Re: Race from $2M to $3M.....and beyond!
« Reply #443 on: August 28, 2018, 12:51:13 AM »
Hi, all!  Iím in the club. I canít tell anyone IRL, and it feels weird to say it even here. Iím well past what I thought was my FIRE number, so Iím trying to get used to the idea of retiring, and also to practice not panicking at market fluctuations (Iím mainly invested in equities, although Iíve been diversifying more lately). 
It feels like Iíve been stalled out at the same NW for a while, but I think it might just be that as my NW has grown, my contributions have become less important compared to investment growth, so the rate of growth has slowed down, while in absolute terms Iím still plugging along as before.

Welcome to the 2 comma and beyond club.  If you are like me, that second million was almost too easy.   Now what you save has less impact on growth.  The wealth has become self replicating.   A little over a month ago we put a down payment on a second home.   That knocked down our accounts a bit.  We've almost recovered that money in a little over a month.  Sometimes I think this can't be legal.
To make it to this group I had to include my GF's TSP numbers and our pensions.  Just today if I add in all my financial numbers (add in $35k in savings), my total is $955k, her's is up to $1,058k.  We're over $2 Mil!!!.  And I don't have to include my house (paid off), nor either of our pensions ($30k/yr for her starting this January - I'm vested at $31k/yr starting in 4 years).  And she finally realizes our finances will be fine (she was STILL worrying???).  We need to work on merging our households this winter and fix up my house but having money will make things happen.

And beyond that, I just visited my mother this weekend.  She's self employed at 72, still very active, travelling to Europe yearly, and now I find she has much more money than I ever realized (over $600k).   And she is just finishing upgrading the last room in her house.  So I'm not worrying about her finances either.

But yeah, back to the Miser's point, it still doesn't feel like we are rich, but compared to an extreme percentage we are.  Crazy....

Very well done.  You're in great shape.  Enjoy the freedom.

MaybeBabyMustache

  • Handlebar Stache
  • *****
  • Posts: 1381
Re: Race from $2M to $3M.....and beyond!
« Reply #444 on: September 05, 2018, 10:59:27 AM »
Just wrapped up our mid year check in, and we're at $3.7M. (This includes our house value). We started the year at $2.9ish, so it's a good uptick. Gains are coming from: additional 401K investment (we max in January from our bonuses), stock market, corporate stock vests (part of our overall compensation package) + quite a big swing in housing value.

We are closing in on $4M. Note that we have a ton of equity tied up into a very expensive housing market (Bay Area), as well as employee stock options. So, in my mind, it's not "real", but I'll keep tracking it. :-)

DavidAnnArbor

  • Handlebar Stache
  • *****
  • Posts: 1803
  • Age: 53
  • Location: Ann Arbor, Michigan
Re: Race from $2M to $3M.....and beyond!
« Reply #445 on: September 05, 2018, 02:52:11 PM »
Iíve just reached $1.7 million in liquid assets and have about another $390k in home equity

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #446 on: September 05, 2018, 04:08:43 PM »
Iíve just reached $1.7 million in liquid assets and have about another $390k in home equity

Cool You're about $0.5M ahead of where I was at your tender age.. Back in 2013.

DavidAnnArbor

  • Handlebar Stache
  • *****
  • Posts: 1803
  • Age: 53
  • Location: Ann Arbor, Michigan
Re: Race from $2M to $3M.....and beyond!
« Reply #447 on: September 05, 2018, 06:43:20 PM »
Ha. Well I wish I had your mechanical skills in fixing things around the home.

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 5641
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Race from $2M to $3M.....and beyond!
« Reply #448 on: September 05, 2018, 06:54:40 PM »
Terminal cheapness is a great motivator to learn..:)

Dicey

  • Walrus Stache
  • *******
  • Posts: 8727
  • Age: 60
  • Location: NorCal
Re: Race from $2M to $3M.....and beyond!
« Reply #449 on: September 14, 2018, 09:19:17 AM »
Terminal cheapness is a great motivator to learn..:)
How about "Perpetual Frugality"? It sounds better and possibly like you will live longer.