Author Topic: Race from $2M to $4M...and Beyond!  (Read 801901 times)

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #4300 on: December 31, 2020, 04:02:51 PM »
Hello you people, I said I hoped to be able to “officially” be here in 2021, but even without being able to see my TSP until tomorrow I am at $2,003,xxx today.  I now longer count my pension with fuzzy math to get me here, but I do count the ~29k I would get if I “cashed out” my pension.

rmorris50

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Re: Race from $2M to $4M...and Beyond!
« Reply #4301 on: December 31, 2020, 04:59:42 PM »
Hello you people, I said I hoped to be able to “officially” be here in 2021, but even without being able to see my TSP until tomorrow I am at $2,003,xxx today.  I now longer count my pension with fuzzy math to get me here, but I do count the ~29k I would get if I “cashed out” my pension.
Congrats, welcome to the club! I count my lump sum pension as well in my NW.

Stock market up yet again, how long can it go...


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Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4302 on: December 31, 2020, 05:01:32 PM »
Hello you people, I said I hoped to be able to “officially” be here in 2021, but even without being able to see my TSP until tomorrow I am at $2,003,xxx today.  I now longer count my pension with fuzzy math to get me here, but I do count the ~29k I would get if I “cashed out” my pension.

Nice.. I too have noticed I no longer count the "value" of our pensions or the value of the house now that wealth has increased..:)

wannabe-stache

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Re: Race from $2M to $4M...and Beyond!
« Reply #4303 on: December 31, 2020, 06:41:16 PM »
These numbers are in millions, and are baffling.  Our net worth increased $500k just in the last 3 months due to market appreciation.  that is more than 90+% of the US population makes in a year on income alone?

and i don't own TSLA, or Nikola, or any of the other high flyers. mostly index funds.

At the beginning of this year i was thinking "we are set".  Then, we gained nearly $2MM this year due to heavy rebalancing and large one-time bonuses.  and i still have one more year syndrome.

this isn't a humblebrag or even celebratory.  i am no happier than i was $2MM ago...i don't recall how much money i wanted to have when i was 20 or even 30 years old but it certainly wasn't $6MM.  and i think i was happier when i was poor and 25 years old...
   
Liquid Net Worth   Home   Change   Total
12/31/2016   $1.371    $0.56       $1.93
Jan-17   $1.444    $0.56    $79    $2.01
Feb-17   $1.467    $0.57    $29    $2.04
Mar-17   $1.535    $0.57    $73    $2.11
Apr-17   $1.552    $0.58    $24    $2.13
May-17   $1.600    $0.58    $50    $2.18
Jun-17   $1.636    $0.58    $38    $2.22
Jul-17   $1.741    $0.59    $107    $2.33
Aug-17   $1.788    $0.59    $49    $2.38
Sep-17   $1.821    $0.59    $35    $2.41
Oct-17   $2.019    $0.64    $243    $2.65
Nov-17   $2.100    $0.64    $83    $2.74
Dec-17   $2.167    $0.64    $70    $2.81
Jan-18   $2.228    $0.70    $123    $2.93
Feb-18   $2.196    $0.75    $15    $2.95
Mar-18   $2.216    $0.75    $20    $2.97
Apr-18   $2.279    $0.75    $63    $3.03
May-18   $2.340    $0.75    $61    $3.09
Jun-18   $2.395    $0.75    $55    $3.15
Jul-18   $2.445    $0.75    $50    $3.19
Aug-18   $2.495    $0.75    $50    $3.24
Sep-18   $2.500    $0.75    $5    $3.25
Oct-18   $2.417    $0.75    ($83)   $3.17
Nov-18   $2.482    $0.75    $65    $3.23
Dec-18   $2.406    $0.75    ($76)   $3.16
Jan-19   $2.594    $0.75    $188    $3.34
Feb-19   $2.685    $0.75    $91    $3.43
Mar-19   $2.700    $0.75    $15    $3.45
Apr-19   $2.872    $0.75    $172    $3.62
May-19   $2.806    $0.75    ($66)   $3.56
Jun-19   $2.935    $0.75    $129    $3.69
Jul-19   $2.993    $0.75    $58    $3.74
Aug-19   $3.006    $0.75    $12    $3.76
Sep-19   $3.035    $0.75    $30    $3.79
Oct-19   $3.124    $0.75    $88    $3.87
Nov-19   $3.186    $0.75    $62    $3.94
Dec-19   $3.357    $0.75    $171    $4.11
Jan-20   $3.590    $0.75    $232    $4.34
Feb-20   $3.453    $0.78    ($112)   $4.23
Mar-20   $2.863    $1.10    ($265)   $3.96
Apr-20   $3.546    $1.10    $685    $4.65
May-20   $3.726    $1.10    $181    $4.83
Jun-20   $3.811    $1.10    $87    $4.92
Jul-20   $4.028    $1.11    $218    $5.13
Aug-20   $4.242    $1.11    $217    $5.35
Sep-20   $4.473    $1.11    $232    $5.58
Oct-20   $4.460    $0.98    ($145)   $5.44
Nov-20   $4.893    $0.98    $435    $5.87
Dec-20   $5.062    $0.98    $171    $6.04

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #4304 on: January 01, 2021, 04:00:50 AM »
Liquid Net Worth   Home   Change   Total
12/31/2016   $1.371    $0.56       $1.93
Jan-17   $1.444    $0.56    $79    $2.01
...
Dec-20   $5.062    $0.98    $171    $6.04

So you're up over 250% for the year? Thats mind blowing :-)

I just tallied up and we finished the year up 22% in my household and I was more than satisfied with that!

BlueHouse

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Re: Race from $2M to $4M...and Beyond!
« Reply #4305 on: January 01, 2021, 04:19:50 AM »
Wow @wannabe-stache   that is amazing!    Makes me want to stick around to see when I can increase by $1M in a year.
I doubt I’ll make it that long, but cool goal.

Roboturner

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Re: Race from $2M to $4M...and Beyond!
« Reply #4306 on: January 01, 2021, 08:48:53 AM »
Spoiler: show

Q2 2016:
LNW: 528k
TNW: 720k

Q3 2016:
LNW: 652k
TNW: 845k

YE 2016:
LNW: 685k
TNW: 893k

Q1 2017:
LNW: 800k
TNW: 1001k

Q2 2017:
LNW: 845k
TNW: 1060k

Q3 2017:
LNW: 921k
TNW: 1142k

YE 2017:
LNW: 1,012k
TNW: 1,230k

Q1 2018:
LNW: 1.09 MM
TNW: 1.33 MM

Q2 2018:
LNW: 1.16 MM
TNW: 1.45 MM

Q3 2018:
LNW: 1.28 MM
TNW: 1.57 MM

YE 2018:
LNW: 1.14 MM
TNW: 1.43 MM

Q1 2019:
LNW: 1.41 MM
TNW: 1.71 MM

Q2 2019:
LNW: 1.60 MM
TNW: 1.78 MM

Q3 2019:
LNW: 1.64 MM
TNW: 1.82 MM

YE 2019:
LNW: 1.84 MM
TNW: 2.02 MM

Q1 2020:
LNW: 1.60 MM
TNW: 1.79 MM

Q2 2020:
LNW: 1.94 MM
TNW: 2.15 MM

Q3 2020:
LNW: 2.12 MM
TNW: 2.46 MM



YE 2020:
LNW: 2.40 MM
TNW: 2.74 MM

Great end to the year, hoping for more to come. Happy New Year all!

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4307 on: January 01, 2021, 09:21:10 AM »
What a year!

Even in my balanced portfolio I made 15% to exit the year at $2636M liquid.. Even in retirement!

Compound interest really is an amazing concept!

secondcor521

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Re: Race from $2M to $4M...and Beyond!
« Reply #4308 on: January 01, 2021, 11:53:07 AM »
Liquid Net Worth   Home   Change   Total
12/31/2016   $1.371    $0.56       $1.93
Jan-17   $1.444    $0.56    $79    $2.01
...
Dec-20   $5.062    $0.98    $171    $6.04

So you're up over 250% for the year? Thats mind blowing :-)

I just tallied up and we finished the year up 22% in my household and I was more than satisfied with that!

Pretty sure that's January 2017 through December 2020, not January 17, 2020 through December 20, 2020.  Still impressive, but I think you misread their post.

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #4309 on: January 01, 2021, 11:57:34 AM »
$2.43MM as of the end of the year.  I expected it would take much longer to hit this point, but I am grateful to be here.  Our consumerism hit hard at year end and we added a 19' travel trailer and a 2018 Nissan Pathfinder as a tow vehicle to our ever growing fleet of cars and things.  We will find out whether we are trailer people who can live in a tiny space and build our retirement home from the ground up while living on the land....Or whether we like our creature comforts too much. :-) We are calling the trailer our COVID camper.  So far it's costing about $3,000 per night to stay there....looking forward to reducing the cost per night quickly.

rmorris50

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Re: Race from $2M to $4M...and Beyond!
« Reply #4310 on: January 01, 2021, 12:04:20 PM »
Ended year at 2.65m NW, was as low as 1.9m in March.

Yet I agree with the earlier comment about happiness. I was surely happier in my 20’s and broke vs now, in my 40’s and working a job I hate. I guess

Still, so much to be thankful for.


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shuffler

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Re: Race from $2M to $4M...and Beyond!
« Reply #4311 on: January 01, 2021, 12:35:07 PM »
Even in my balanced portfolio I made 15% to exit the year at $2636M liquid.
The forum's first billionaire?  Welcome to the three-comma-club!   ;^)

Taran Wanderer

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Re: Race from $2M to $4M...and Beyond!
« Reply #4312 on: January 01, 2021, 01:04:02 PM »
I think maybe exflyboy is just confusing M with k...

tooqk4u22

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Re: Race from $2M to $4M...and Beyond!
« Reply #4313 on: January 01, 2021, 01:20:04 PM »
I think maybe exflyboy is just confusing M with k...

M = 1,000, roman numeral.   Also, financial industry uses M for thousands and MM for millions

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #4314 on: January 01, 2021, 01:25:33 PM »
Liquid Net Worth   Home   Change   Total
12/31/2016   $1.371    $0.56       $1.93
Jan-17   $1.444    $0.56    $79    $2.01
...
Dec-20   $5.062    $0.98    $171    $6.04

So you're up over 250% for the year? Thats mind blowing :-)

I just tallied up and we finished the year up 22% in my household and I was more than satisfied with that!

Pretty sure that's January 2017 through December 2020, not January 17, 2020 through December 20, 2020.  Still impressive, but I think you misread their post.

Oops indeed :-) Its 41% but as you say, that's still pretty impressive.

SuperSecretName

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Re: Race from $2M to $4M...and Beyond!
« Reply #4315 on: January 01, 2021, 01:38:16 PM »
Never thought I'd be joining this thread, but here we are.  As the saying goes, the first million is the hardest.  Aside from all the normal stuff that we all do to get here, what pushed me over this line was Banksy.  I have a few of his prints, and his market just went bananas this year.  Basically doubled in value.

soccerluvof4

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Re: Race from $2M to $4M...and Beyond!
« Reply #4316 on: January 01, 2021, 04:26:03 PM »
Finished the year at roughly 2,453,000 not including a 800k paid for house total 3,253,000 Round numbers up from a year and a month  ago 2,600,000 with a 345k house totaling 2,945,000.  Being fire'd and numbers going up is a bonus for sure. Plus updated all our paid for cars. Withdrawal rate due to pandemic for non house improvement items was down almost a full percentage point as well.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4317 on: January 01, 2021, 04:29:03 PM »
Finished the year at roughly 2,453,000 not including a 800k paid for house total 3,253,000 Round numbers up from a year and a month  ago 2,600,000 with a 345k house totaling 2,945,000.  Being fire'd and numbers going up is a bonus for sure. Plus updated all our paid for cars. Withdrawal rate due to pandemic for non house improvement items was down almost a full percentage point as well.

Exactly, our WR was roughly 0.68%... This is starting to be a (good) problem!

wannabe-stache

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Re: Race from $2M to $4M...and Beyond!
« Reply #4318 on: January 01, 2021, 06:24:51 PM »
Liquid Net Worth   Home   Change   Total
12/31/2016   $1.371    $0.56       $1.93
Jan-17   $1.444    $0.56    $79    $2.01
...
Dec-20   $5.062    $0.98    $171    $6.04

So you're up over 250% for the year? Thats mind blowing :-)

I just tallied up and we finished the year up 22% in my household and I was more than satisfied with that!

over the year 2020 we went from $4.1mm to $6.0mm.  that's an increase of 47%.  still, amazing, but mostly due to bonuses that were paid during the course of 2020 and invested primarily in equities.

wannabe-stache

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Re: Race from $2M to $4M...and Beyond!
« Reply #4319 on: January 01, 2021, 06:28:55 PM »
Wow @wannabe-stache   that is amazing!    Makes me want to stick around to see when I can increase by $1M in a year.
I doubt I’ll make it that long, but cool goal.

thanks.  i am still not sure how to get comfortable with quitting work and drawing down.  after 20 years of working and saving, missing that endorphin rush of seeing your accounts go up seems very difficult to give up.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4320 on: January 01, 2021, 06:42:32 PM »
Wow @wannabe-stache   that is amazing!    Makes me want to stick around to see when I can increase by $1M in a year.
I doubt I’ll make it that long, but cool goal.

thanks.  i am still not sure how to get comfortable with quitting work and drawing down.  after 20 years of working and saving, missing that endorphin rush of seeing your accounts go up seems very difficult to give up.
I find I get a great endorphin rush from (a) not getting up too damn early to go to work and (b) never attending a work meeting I don't want to attend and (c) doing pretty much what I damn well please instead of whatever some manager tells me to do.

Seeing those balances go up is awesome, but after you've got enough and a bit more, it pales in comparison.  :)

Taran Wanderer

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Re: Race from $2M to $4M...and Beyond!
« Reply #4321 on: January 01, 2021, 06:53:47 PM »
I think maybe exflyboy is just confusing M with k...

M = 1,000, roman numeral.   Also, financial industry uses M for thousands and MM for millions

What can I say? I’m a metric guy. Physics and chemistry was taught in metric. K = 1,000 and M = 1,000,000. Business courses used M and MM, but really, who uses Roman numerals anymore except for Super Bowls and Star Wars movies?  We should all just go with metric at this point. Except for pints. Gotta keep pints for beer.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4322 on: January 01, 2021, 07:13:14 PM »
I think maybe exflyboy is just confusing M with k...

M = 1,000, roman numeral.   Also, financial industry uses M for thousands and MM for millions

What can I say? I’m a metric guy. Physics and chemistry was taught in metric. K = 1,000 and M = 1,000,000. Business courses used M and MM, but really, who uses Roman numerals anymore except for Super Bowls and Star Wars movies?  We should all just go with metric at this point. Except for pints. Gotta keep pints for beer.

Well as the person who got himself confused I have no excuse. I hold professional engineering licenses in both the UK (metric) and the US (English).. Yes there is a huge irony in that statement..:).

shuffler

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Re: Race from $2M to $4M...and Beyond!
« Reply #4323 on: January 01, 2021, 07:22:56 PM »
I think maybe exflyboy is just confusing M with k...

M = 1,000, roman numeral.   Also, financial industry uses M for thousands and MM for millions

What can I say? I’m a metric guy. Physics and chemistry was taught in metric. K = 1,000 and M = 1,000,000. Business courses used M and MM, but really, who uses Roman numerals anymore except for Super Bowls and Star Wars movies?  We should all just go with metric at this point. Except for pints. Gotta keep pints for beer.

Well as the person who got himself confused I have no excuse. I hold professional engineering licenses in both the UK (metric) and the US (English).. Yes there is a huge irony in that statement..:).
No worries.  We're all racing from $2,000 to $4,000 (and beyond!) here.

brooklynmoney

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Re: Race from $2M to $4M...and Beyond!
« Reply #4324 on: January 01, 2021, 07:45:14 PM »
Never thought I'd be joining this thread, but here we are.  As the saying goes, the first million is the hardest.  Aside from all the normal stuff that we all do to get here, what pushed me over this line was Banksy.  I have a few of his prints, and his market just went bananas this year.  Basically doubled in value.

This is the coolest net worth boost I have ever heard of. I’m jealous that you own some of his work!

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4325 on: January 01, 2021, 09:35:07 PM »
Never thought I'd be joining this thread, but here we are.  As the saying goes, the first million is the hardest.  Aside from all the normal stuff that we all do to get here, what pushed me over this line was Banksy.  I have a few of his prints, and his market just went bananas this year.  Basically doubled in value.

This is the coolest net worth boost I have ever heard of. I’m jealous that you own some of his work!

Me too!

soccerluvof4

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Re: Race from $2M to $4M...and Beyond!
« Reply #4326 on: January 02, 2021, 03:56:21 AM »
Finished the year at roughly 2,453,000 not including a 800k paid for house total 3,253,000 Round numbers up from a year and a month  ago 2,600,000 with a 345k house totaling 2,945,000.  Being fire'd and numbers going up is a bonus for sure. Plus updated all our paid for cars. Withdrawal rate due to pandemic for non house improvement items was down almost a full percentage point as well.

Exactly, our WR was roughly 0.68%... This is starting to be a (good) problem!


Damn thats low! But your right. I was excited to finish year at exactly 2.5%. I will say though on the upside I did miss out some because I kept to much cash about 18% now.

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #4327 on: January 02, 2021, 05:36:11 AM »
$2,645,000 to end the year.  Not including mason jar money or real estate.  Not bad starting at 2,320,000 a year ago.  Should reach the 3 million goal by my mid 2023 retirement goal.  Lots of crazy between now and then.  It's always better in the end.
« Last Edit: January 02, 2021, 06:21:40 AM by Bateaux »

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #4328 on: January 02, 2021, 05:45:06 AM »
Wow @wannabe-stache   that is amazing!    Makes me want to stick around to see when I can increase by $1M in a year.
I doubt I’ll make it that long, but cool goal.

thanks.  i am still not sure how to get comfortable with quitting work and drawing down.  after 20 years of working and saving, missing that endorphin rush of seeing your accounts go up seems very difficult to give up.
I find I get a great endorphin rush from (a) not getting up too damn early to go to work and (b) never attending a work meeting I don't want to attend and (c) doing pretty much what I damn well please instead of whatever some manager tells me to do.

Seeing those balances go up is awesome, but after you've got enough and a bit more, it pales in comparison.  :)
Hold on, who says your accounts don't continue to go up? They totally do, and it's an even bigger thrill when you aren't "working" for it. Try it, I assure you, it's a blast!
« Last Edit: January 02, 2021, 09:28:47 AM by Dicey »

Much Fishing to Do

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Re: Race from $2M to $4M...and Beyond!
« Reply #4329 on: January 02, 2021, 06:12:31 AM »
Wow @wannabe-stache   that is amazing!    Makes me want to stick around to see when I can increase by $1M in a year.
I doubt I’ll make it that long, but cool goal.

thanks.  i am still not sure how to get comfortable with quitting work and drawing down.  after 20 years of working and saving, missing that endorphin rush of seeing your accounts go up seems very difficult to give up.
I find I get a great endorphin rush from (a) not getting up too damn early to go to work and (b) never attending a work meeting I don't want to attend and (c) doing pretty much what I damn well please instead of whatever some manager tells me to do.

Seeing those balances go up is awesome, but after you've got enough and a bit more, it pales in comparison.  :)
Hold on, who says your accounts don't continue to go up? They totally do, and it's an even bigger thrill when you aren't "working' for it. Try it, I assure you, it's a blast!

That's a good point.  My LNW went from $3M to $3.3M this year.  If I didn't work my half-time job this year it would gone from $3M to $3.2M.  Hmm.

JoJoP

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Re: Race from $2M to $4M...and Beyond!
« Reply #4330 on: January 02, 2021, 09:10:10 AM »
Never thought I'd be joining this thread, but here we are.  As the saying goes, the first million is the hardest.  Aside from all the normal stuff that we all do to get here, what pushed me over this line was Banksy.  I have a few of his prints, and his market just went bananas this year.  Basically doubled in value.

How awesome is that! You made bank on Banksy!  I'm a big Banksy fan.  I saw some great murals in Jerusalem.   What a cool way to get rich.

My Real Estate investments are skyrocketing through the roof this year... estimated values year over year  from Jan 2020 to Jan 2021 are up $1,340,000 for the portfolio.
  We've made a few tweaks to get a better monthly return, and bought ourselves a beach house.   Overall,  mostly just sitting back and enjoying our life.   

« Last Edit: January 02, 2021, 09:32:09 AM by JoJoP »

lhamo

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Re: Race from $2M to $4M...and Beyond!
« Reply #4331 on: January 02, 2021, 11:19:14 AM »
Wow @wannabe-stache   that is amazing!    Makes me want to stick around to see when I can increase by $1M in a year.
I doubt I’ll make it that long, but cool goal.

thanks.  i am still not sure how to get comfortable with quitting work and drawing down.  after 20 years of working and saving, missing that endorphin rush of seeing your accounts go up seems very difficult to give up.
I find I get a great endorphin rush from (a) not getting up too damn early to go to work and (b) never attending a work meeting I don't want to attend and (c) doing pretty much what I damn well please instead of whatever some manager tells me to do.

Seeing those balances go up is awesome, but after you've got enough and a bit more, it pales in comparison.  :)
Hold on, who says your accounts don't continue to go up? They totally do, and it's an even bigger thrill when you aren't "working" for it. Try it, I assure you, it's a blast!

+1.   My money makes way more money for me now than I made while I was still working.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4332 on: January 02, 2021, 11:25:26 AM »
Wow @wannabe-stache   that is amazing!    Makes me want to stick around to see when I can increase by $1M in a year.
I doubt I’ll make it that long, but cool goal.

thanks.  i am still not sure how to get comfortable with quitting work and drawing down.  after 20 years of working and saving, missing that endorphin rush of seeing your accounts go up seems very difficult to give up.
I find I get a great endorphin rush from (a) not getting up too damn early to go to work and (b) never attending a work meeting I don't want to attend and (c) doing pretty much what I damn well please instead of whatever some manager tells me to do.

Seeing those balances go up is awesome, but after you've got enough and a bit more, it pales in comparison.  :)
Hold on, who says your accounts don't continue to go up? They totally do, and it's an even bigger thrill when you aren't "working" for it. Try it, I assure you, it's a blast!

+1.   My money makes way more money for me now than I made while I was still working.

Yup.. I made $341k last year.. I sure as heck never made that in salary.. I'll take another one thankyou..:)

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #4333 on: January 02, 2021, 05:01:11 PM »
Finished the year at roughly 2,453,000 not including a 800k paid for house total 3,253,000 Round numbers up from a year and a month  ago 2,600,000 with a 345k house totaling 2,945,000.  Being fire'd and numbers going up is a bonus for sure. Plus updated all our paid for cars. Withdrawal rate due to pandemic for non house improvement items was down almost a full percentage point as well.
Dude-get the painted cabinets. If the house is $800....the extra $1K for paint is so worth your time.

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #4334 on: January 03, 2021, 09:44:27 AM »
All you guys making money, the ones who work are only working because they want to and not because they have to, vaccine is on it's way, world is starting to fix the global warming thing, US has not started any wars lately, new gadgets and technological innovations are on the way and the sun is shining.

It's going to be a good year.  You Betcha!

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #4335 on: January 03, 2021, 07:50:20 PM »
All you guys making money, the ones who work are only working because they want to and not because they have to, vaccine is on it's way, world is starting to fix the global warming thing, US has not started any wars lately, new gadgets and technological innovations are on the way and the sun is shining.

It's going to be a good year.  You Betcha!

I could have written this myself.  Pretty much the same thoughts I've been tossing lately.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4336 on: January 03, 2021, 09:01:35 PM »
Yeah its hard to be pessimistic at this point. Sure we might get a pullback in the market but for most of us even 50% temporary haircut really isn't a big deal.

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #4337 on: January 04, 2021, 03:39:50 AM »
Yeah its hard to be pessimistic at this point. Sure we might get a pullback in the market but for most of us even 50% temporary haircut really isn't a big deal.

Exactly! My own risk-tolerance was stress tested last February/March during the downward spike of Covid

Much Fishing to Do

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Re: Race from $2M to $4M...and Beyond!
« Reply #4338 on: January 04, 2021, 05:28:23 PM »
Yeah its hard to be pessimistic at this point. Sure we might get a pullback in the market but for most of us even 50% temporary haircut really isn't a big deal.

Exactly! My own risk-tolerance was stress tested last February/March during the downward spike of Covid

Right.  I learned a lot with the Q4 2018 drop (it was around 20% s&p500).  I was a bit concerned for the first time ever, as with the 2000 drop I had very little invested and with the 2008 drop I was still a long way from retirement, which was not the case with that one (i'll likely RE in the next year).  After it had recovered and we were at a high in 2019 I made the move to put about 4 years of spending into cash (the rest of my portfolio is pretty basic 80/20).  I guess it was the right move b/c the Covid drop did not phase me, so i think I'm good.

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Re: Race from $2M to $4M...and Beyond!
« Reply #4339 on: January 04, 2021, 06:45:55 PM »
Yeah its hard to be pessimistic at this point. Sure we might get a pullback in the market but for most of us even 50% temporary haircut really isn't a big deal.

Exactly! My own risk-tolerance was stress tested last February/March during the downward spike of Covid

Right.  I learned a lot with the Q4 2018 drop (it was around 20% s&p500).  I was a bit concerned for the first time ever, as with the 2000 drop I had very little invested and with the 2008 drop I was still a long way from retirement, which was not the case with that one (i'll likely RE in the next year).  After it had recovered and we were at a high in 2019 I made the move to put about 4 years of spending into cash (the rest of my portfolio is pretty basic 80/20).  I guess it was the right move b/c the Covid drop did not phase me, so i think I'm good.

I FIRE'd 6/2019, it was nice to have that drop in Q4 2018 to test my resolve, arch 2020 hit and all I did was rebalance.  Note I do have a conservative AA - first I lowered equities when I FIRE'd (kind of reverse glide path, set aside for SORR), then just rebalanced when needed.   Only thing I did that was outside my plan was last month when I rebalanced but also took equities down another 5% - i might regret it but considering markets were up 13ish % in a month or so I was ok with it.   Two schools of thought that are competing - why play the game when you won vs. you can afford to take more risk with that extra capital.  I chose the former but nothing wrong with the other way.

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Re: Race from $2M to $4M...and Beyond!
« Reply #4340 on: January 05, 2021, 03:02:09 AM »
Finished the year at roughly 2,453,000 not including a 800k paid for house total 3,253,000 Round numbers up from a year and a month  ago 2,600,000 with a 345k house totaling 2,945,000.  Being fire'd and numbers going up is a bonus for sure. Plus updated all our paid for cars. Withdrawal rate due to pandemic for non house improvement items was down almost a full percentage point as well.
Dude-get the painted cabinets. If the house is $800....the extra $1K for paint is so worth your time.


Haha. I did order them. Due date January  31st.

soccerluvof4

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Re: Race from $2M to $4M...and Beyond!
« Reply #4341 on: January 05, 2021, 03:03:35 AM »
Yeah its hard to be pessimistic at this point. Sure we might get a pullback in the market but for most of us even 50% temporary haircut really isn't a big deal.


We get anywhere near that I am a buyer!!!!

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #4342 on: January 05, 2021, 06:05:00 AM »
Lost 24K on paper day one of trading in 2021.  Can we have 2020 back?

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #4343 on: January 05, 2021, 06:21:19 AM »
Lost 24K on paper day one of trading in 2021.  Can we have 2020 back?

Hell to the NO!  :)

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #4344 on: January 05, 2021, 08:04:11 AM »
Lost 24K on paper day one of trading in 2021.  Can we have 2020 back?

Hell to the NO!  :)

Just kidding 🤣

dividendman

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Re: Race from $2M to $4M...and Beyond!
« Reply #4345 on: January 05, 2021, 10:26:37 AM »
Lost 24K on paper day one of trading in 2021.  Can we have 2020 back?

Hell to the NO!  :)

Just kidding 🤣

Sadly, I think that 2020 will be better than 2021 (with regards to COVID impact on human life anyway), shit is getting crazy in California.

https://www.cnn.com/2021/01/05/us/los-angeles-county-california-human-disaster-covid/index.html

farmecologist

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Re: Race from $2M to $4M...and Beyond!
« Reply #4346 on: January 05, 2021, 12:22:35 PM »
Tallying up our expenses for the year (we live in an inner suburb of New York City in New Jersey)

Home(property tax, insurance, maintenance): 23300
Food: 10000
Car (Insurance, maintenance, fuel): 8700
Utilities + Internet + Phone: 10000
Gardening + maid:   6100
Entertainment (mostly online subscriptions): 3000
Clothing: 2000
Fitness: 4000
Hobbies: 1000
Travel: 5000
   
Total   73100

Clothing and commute expenses were lower than usual. But commute expenses will be zero for me in the future! Travel was not much either, mostly one road trip and a couple of family related trips I had to make./

23K for home related stuff..*not* including mortgage?  I'm assuming most of it is property taxes?  If so, I've heard that prop taxes are insane out east...but that is just...insane.  :-)  Of course, you didn't point out how large your house is....the 'gardening plus maid' makes me wonder...haha.

Heh - Chez 2sk22 is about 2500 square feet and our entire plot is 75 ft by 100ft. Truly we belong on the "the lifestyles of the rich and famous" :-)

We don't have a mortgage - paid it off a few years ago. Property tax is undoubtedly high compared to most of the country but we can afford it without any problem. The way I see it, the whole point of FATFire is to be able to live wherever I want. Schools are great and I love the location. I can see the tips of the new supertall buildings in Manhattan from my house and yet its really quiet in my neighborhood.

I get it.  I'm just always shocked at how high property taxes are out there.  :-)

farmecologist

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Re: Race from $2M to $4M...and Beyond!
« Reply #4347 on: January 05, 2021, 12:34:48 PM »
Never thought I'd be joining this thread, but here we are.  As the saying goes, the first million is the hardest.  Aside from all the normal stuff that we all do to get here, what pushed me over this line was Banksy.  I have a few of his prints, and his market just went bananas this year.  Basically doubled in value.

Wow congrats!  It is fascinating to hear how we all became members of this club. 

For me it was stock trading.   I have learned a TON over the last couple years.   Most people don't have the stomach for it.   I almost didn't either.  The way I rationalized it is that my trading account is my 'play money'.   And our retirement accounts are relatively conservative.  Well....the trading account just became much more than 'play money' in the last year or so....and pushed us into this club.   2020 was an astounding year for traders.   Not sure it will last, but I'm enjoying it while it does. 

ysette9

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Re: Race from $2M to $4M...and Beyond!
« Reply #4348 on: January 05, 2021, 03:12:54 PM »
Lost 24K on paper day one of trading in 2021.  Can we have 2020 back?

Hell to the NO!  :)

Just kidding

Sadly, I think that 2020 will be better than 2021 (with regards to COVID impact on human life anyway), shit is getting crazy in California.

https://www.cnn.com/2021/01/05/us/los-angeles-county-california-human-disaster-covid/index.html
This is scary stuff. I hope the new administration can sort out the actual distribution and delivery of vaccines quickly after inauguration since we can’t seem to be intelligent enough as people to slow the spread. 

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #4349 on: January 05, 2021, 03:30:41 PM »
Finished the year at roughly 2,453,000 not including a 800k paid for house total 3,253,000 Round numbers up from a year and a month  ago 2,600,000 with a 345k house totaling 2,945,000.  Being fire'd and numbers going up is a bonus for sure. Plus updated all our paid for cars. Withdrawal rate due to pandemic for non house improvement items was down almost a full percentage point as well.
Dude-get the painted cabinets. If the house is $800....the extra $1K for paint is so worth your time.
I thank you - your wife thanks you.  Your house thanks you.  I should make you hand paint one just to experience the utter joy (not) of painting and then comparing the quality of your work to the quality of their work...for the $50 per cabinet difference.  Your house is really coming along!  Post-COVID party at the soccerluv house.

Haha. I did order them. Due date January  31st.