Author Topic: Race from $2M to $4M...and Beyond!  (Read 514933 times)

Car Jack

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Re: Race from $2M to $3M.....and beyond!
« Reply #600 on: January 01, 2019, 10:36:42 AM »
I can't imagine I need more than $30-$35k a year to live including taxes. That would be about a 2.3% withdrawal rate for me.
If I were to spend $40k I would feel like I was living a life of ridiculous luxury.

But my plan is to continue to work part-time now that I'm officially retired. I enjoy my work a lot. I'm just reducing all the commuting I used to do.

Do you mean $30k to $35k plus $20k for health insurance, deductibles, copays and out of network costs?

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #601 on: January 01, 2019, 10:54:33 AM »
I can't imagine I need more than $30-$35k a year to live including taxes. That would be about a 2.3% withdrawal rate for me.
If I were to spend $40k I would feel like I was living a life of ridiculous luxury.

But my plan is to continue to work part-time now that I'm officially retired. I enjoy my work a lot. I'm just reducing all the commuting I used to do.

Do you mean $30k to $35k plus $20k for health insurance, deductibles, copays and out of network costs?


I don't pay $20K for health insurance, I'm using Obamacare and I get subsidies, so I pay practically nothing. I don't use medical care so I don't have these yearly deductibles, copays and out of network costs to pay.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #602 on: January 01, 2019, 11:41:25 AM »
I can't imagine I need more than $30-$35k a year to live including taxes. That would be about a 2.3% withdrawal rate for me.
If I were to spend $40k I would feel like I was living a life of ridiculous luxury.

But my plan is to continue to work part-time now that I'm officially retired. I enjoy my work a lot. I'm just reducing all the commuting I used to do.

Do you mean $30k to $35k plus $20k for health insurance, deductibles, copays and out of network costs?


I don't pay $20K for health insurance, I'm using Obamacare and I get subsidies, so I pay practically nothing. I don't use medical care so I don't have these yearly deductibles, copays and out of network costs to pay.

We are in the same boat but this happy situation is somewhat tentative. What if you get cancer and your on a bronze plan.. Well you'll end up writing a check for $13,200 (in our case) plus whatever the insurance company decides they don't cover .. Pre-approval are the first words out of your mouth when the dr proposes a course of treatment!

If we were to have an accident more than about 40 miles away from home we are out of network.. The ACA has basically no protection for OON accident costs (despite what they say), the insurance company will simply pay the OON provider what they pay the in network provider.. you will get balance billed for the rest. This assumes you don't live in one of the very few states where balance billing is illegal.

So yeah, as long as nothing goes wrong then we will pay almost nothing for HC..:)

Threshkin

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Re: Race from $2M to $3M.....and beyond!
« Reply #603 on: January 01, 2019, 11:57:14 AM »
I can't imagine I need more than $30-$35k a year to live including taxes. That would be about a 2.3% withdrawal rate for me.
If I were to spend $40k I would feel like I was living a life of ridiculous luxury.

But my plan is to continue to work part-time now that I'm officially retired. I enjoy my work a lot. I'm just reducing all the commuting I used to do.

Do you mean $30k to $35k plus $20k for health insurance, deductibles, copays and out of network costs?


I don't pay $20K for health insurance, I'm using Obamacare and I get subsidies, so I pay practically nothing. I don't use medical care so I don't have these yearly deductibles, copays and out of network costs to pay.

We are in the same boat but this happy situation is somewhat tentative. What if you get cancer and your on a bronze plan.. Well you'll end up writing a check for $13,200 (in our case) plus whatever the insurance company decides they don't cover .. Pre-approval are the first words out of your mouth when the dr proposes a course of treatment!

If we were to have an accident more than about 40 miles away from home we are out of network.. The ACA has basically no protection for OON accident costs (despite what they say), the insurance company will simply pay the OON provider what they pay the in network provider.. you will get balance billed for the rest. This assumes you don't live in one of the very few states where balance billing is illegal.

So yeah, as long as nothing goes wrong then we will pay almost nothing for HC..:)

Exactly!  Your health care expenses may be low today but never assume they will always be low.  ACA subsidies are at risk, accidents happen, people get sick, you get old.  I pay <$120 a year for ACA insurance after subsidies and have no other significant medical expenses. But I budget $12K a year for health care (and I suspect this is low). 

One of my biggest peeves with ACA is that if you travel around the country you loose your health care coverage in most cases. 

Sometimes a think this is a conspiracy to keep people trapped in their community and prevent them from traveling to learn what life is like in different places.  Then I take off my tinfoil hat and everything gets better again.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #604 on: January 01, 2019, 12:22:31 PM »
I agree that the healthcare costs are always a possible future burden. That's why I live frugally so that I'll be prepared financially in the event of an expensive health issue.
When I get to be 60 years old I hope to obtain retiree health care from a part time job I have.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #605 on: January 01, 2019, 12:37:46 PM »
funny (not) but DW was saying how she would like to drive around the country to visit all the National parks one day. "I don't think thats a good idea" says I due to being wide open to almost any medical cost from a road accident or falling in the parks out of network.

The joke of it is.. We went to Europe in 2018, Ukraine, Slovenia, Croatia, UK and Ireland.. Travelled from Croatia to the UK by train.. Not a care in the World!.. Why? Well we bought travel insurance from Berkshire Hathaway that cost less than $50 for both of us for the 6 weeks.. Yes 50 bucks to anywhere, two people for 6 weeks!

So we can go anywhere in the world but can't visit our own National parks for fear of being made medically bankrupt!

Note I have not looked at the cost of buying a similar policy to cover the USA.. But still

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #606 on: January 01, 2019, 01:00:54 PM »
Maybe a health insurance travel policy would solve that problem for travel in the US ?

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #607 on: January 01, 2019, 02:00:24 PM »
Maybe a health insurance travel policy would solve that problem for travel in the US ?

Maybe.. Certainly an avenue of research.

I do think we tend to hand wave the medical issues of RE a bit too much. MMM himself kind of brushed it off in his latest but one article telling folks to do what we have done essentially with a bronze plan.

Thats wonderful if you are fit and healthy, but if you got diabetes or cancer (or get it after you RE) then your medical costs are going to skyrocket. So you really ought to plan for an extra $15k+ to be added to your budget just in case.

I couldn't imagine coming down with a life threatening illness and then having to worry about how you are possibly going to pay for it.

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Re: Race from $2M to $3M.....and beyond!
« Reply #608 on: January 01, 2019, 02:47:03 PM »
Maybe a health insurance travel policy would solve that problem for travel in the US ?
I believe I’ve read that travel insurance policies specifically exclude health care in the US. I believe it was GoCurryCracker where I read about that.

Threshkin

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Re: Race from $2M to $3M.....and beyond!
« Reply #609 on: January 01, 2019, 07:03:25 PM »
Maybe a health insurance travel policy would solve that problem for travel in the US ?
I believe Iíve read that travel insurance policies specifically exclude health care in the US. I believe it was GoCurryCracker where I read about that.

You are correct.  The US is specifically excluded from most, if not all, travel HC policies.

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #610 on: January 01, 2019, 09:54:41 PM »

-SNIP-

You are correct.  The US is specifically excluded from most, if not all, travel HC policies.

It's almost an incentive to travel internationally after retiring in the US.  An earlier post said about $50 for 6 weeks of travel.

52 weeks in a year / 6 weeks coverage = 8.66 factor for an entire year

50 X 8.7 = 435 bucks for yearly insurance

That is worth some thought.  Maybe a year in the Outback is in order.

MiserlyMiser

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Re: Race from $2M to $3M.....and beyond!
« Reply #611 on: January 02, 2019, 03:59:21 PM »
My NW was about $40k higher on December 31 than it was on January 1, but only because my salary offset the market drop.  And I had such high hopes during the good months of 2018--in my more optimistic moments, I thought I might be approaching $3M by now.

Looking back at 2018, I spent just over a 3% WR.  I need to find things to cut, because it doesn't include healthcare, which my employer is currently paying for.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #612 on: January 02, 2019, 05:05:00 PM »
My NW was about $40k higher on December 31 than it was on January 1, but only because my salary offset the market drop.  And I had such high hopes during the good months of 2018--in my more optimistic moments, I thought I might be approaching $3M by now.

Looking back at 2018, I spent just over a 3% WR.  I need to find things to cut, because it doesn't include healthcare, which my employer is currently paying for.

So you're spending $75,000 a  year?  That's a lot of money. What is your mortgage payment $3,000 a month?
What's driving this high amount of spending?

MiserlyMiser

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Re: Race from $2M to $3M.....and beyond!
« Reply #613 on: January 02, 2019, 06:45:38 PM »
It *is* high . . . I've figured part of it out.  I took that number from Personal Capital, which doesn't always classify things correctly (for example, my dividends are automatically reinvested, but PC classifies that as an expense), or recognize expenses I get reimbursed for (about $10k in work travel this year, $780 for phone).  Subtracting the things that shouldn't have been included, I'm down to about $60k.  Which is still high. 

(I initially included more detail, but I edited because I'm not comfortable having all of that information in public.  I am comfortable sharing that my mortgage is $24k ($1,800/month + taxes), I went to the eye doctor too many times, spent a lot of money on groceries (despite not eating meat) and on utilities (despite keeping my house at 60 degrees & colder at night), gave more money than usual this year to charities/political campaigns/go-fund-mes, and spent a lot of money on my dog, who recently passed away.  I haven't accounted for $10k in expenses, which I will track down somehow.)

« Last Edit: January 02, 2019, 06:59:10 PM by MiserlyMiser »

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #614 on: January 02, 2019, 07:36:59 PM »
oh ok that's a high cost of living for the housing, and may just be what it is in your area.
i'm sorry about the loss of your dog. that's an important companion.

MiserlyMiser

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Re: Race from $2M to $3M.....and beyond!
« Reply #615 on: January 03, 2019, 11:45:10 AM »
Thanks, I appreciate it.  Not everyone takes emotional connections to pets seriously (I do), so I don't talk about it much.

At $60k spending in a MCOL, I do think it's high and there is room to cut, I will just need to dig a little to figure out what it is.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #616 on: January 03, 2019, 04:25:49 PM »
I think you're in a comfortable withdrawal rate though. Sounds like you're only just  a little over 2%.
Anything less than 3.5% withdrawal rate has never in the past failed.

JoJoP

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Re: Race from $2M to $3M.....and beyond!
« Reply #617 on: January 13, 2019, 02:28:58 PM »
I'm new here (at least new at posting), and $2-$3M group seems to be where I am. I was on that traditional retire at 65 path, and really course corrected about 3 years ago after googling "How much is enough" and discovering the FIRE movement on the internet. I'm 52, working as a mid-level corporate manager, and my wife works in the service industry in Southern CA. I started transforming my life toward Mustachianism without knowing it about three years ago - renting out our suburban house, moving to a 2 bedroom near work, and eliminating a 3-hour round-trip commute. Now I save about 1/3 of my annual income and have liquid investments of about $2.4M. I'm targeting quitting my job in about four years at 56 when our youngest is through college and that large variable is behind us. Though I know I could go FIRE today, we would like to move back to our home community in the suburbs to stay long term, and that isn't exactly inexpensive.

I can't say I can closely relate to the 30-somethings retiring on $40k a year, but I believe these principles can be applied by anyone's situation wherever they are at. It has certainly changed my perspective and direction, and I appreciate reading all of these stories!

Hi and welcome to the thread, XC1984!  I've been traveling abroad and just got home, so excuse this insert into a now diverged topic.

 There are lots of 40-50+ people on the site, and many are in this thread.  Frugality and time have done the job for many of the thread participants.   The shared stories and dialogue are fantastic.  I'm in my late 50's and my spouse is older, so we are also on the older (and richer) side of the posters here.  We worked for longer than many Mustachians, saved like crazy and made real estate investments that panned out.  All that is its own path.  There's still plenty to talk about and and lots of great input from like minded people of all ages.  As you say, the principals apply to everyone at every age.  I'm here as a kindred spirit even though we aren't as frugal as we once were-- during the earning, saving and investment stages of our lives. 

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Re: Race from $2M to $3M.....and beyond!
« Reply #618 on: January 16, 2019, 02:41:52 AM »
I'm new here (at least new at posting), and $2-$3M group seems to be where I am. I was on that traditional retire at 65 path, and really course corrected about 3 years ago after googling "How much is enough" and discovering the FIRE movement on the internet. I'm 52, working as a mid-level corporate manager, and my wife works in the service industry in Southern CA. I started transforming my life toward Mustachianism without knowing it about three years ago - renting out our suburban house, moving to a 2 bedroom near work, and eliminating a 3-hour round-trip commute. Now I save about 1/3 of my annual income and have liquid investments of about $2.4M. I'm targeting quitting my job in about four years at 56 when our youngest is through college and that large variable is behind us. Though I know I could go FIRE today, we would like to move back to our home community in the suburbs to stay long term, and that isn't exactly inexpensive.

I can't say I can closely relate to the 30-somethings retiring on $40k a year, but I believe these principles can be applied by anyone's situation wherever they are at. It has certainly changed my perspective and direction, and I appreciate reading all of these stories!

Hi and welcome to the thread, XC1984!  I've been traveling abroad and just got home, so excuse this insert into a now diverged topic.

 There are lots of 40-50+ people on the site, and many are in this thread.  Frugality and time have done the job for many of the thread participants.   The shared stories and dialogue are fantastic.  I'm in my late 50's and my spouse is older, so we are also on the older (and richer) side of the posters here.  We worked for longer than many Mustachians, saved like crazy and made real estate investments that panned out.  All that is its own path.  There's still plenty to talk about and and lots of great input from like minded people of all ages.  As you say, the principals apply to everyone at every age.  I'm here as a kindred spirit even though we aren't as frugal as we once were-- during the earning, saving and investment stages of our lives.




Double that sentiment. You near where I was/am when I fired with 4 kids at home, 2 in college now and there are alot of unexpected costs with that at least I didn't think about even though we were fortunate that one got a full ride and one a partial . But 2 still at home. I sound kinda like you in that I started getting frugal in my later 40's and stumbled across MMM by accident then at 50 was just done.
So welcome @XC1984 . Hopefully we can get a descent bull run again so I can get back on the other-side of 3M as i got my toes wet for a few days when the market peaked and felt good.


As far as all the HC talk this is what scares the shit out of me the most and it Just sucks that we don't have a better way. Pay all these high deductible for Maybe coverage who knows and then have to save on top of it to protect for the future. Just seems harder and harder for those coming up if they want to A) fire early and B) be protected decently.

Car Jack

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Re: Race from $2M to $3M.....and beyond!
« Reply #619 on: January 16, 2019, 07:15:35 AM »
I agree that the healthcare costs are always a possible future burden. That's why I live frugally so that I'll be prepared financially in the event of an expensive health issue.
When I get to be 60 years old I hope to obtain retiree health care from a part time job I have.

You've certainly found an ideal part time job.  In my full time job, I'm still paying $10k a year in deductibles, co-pays, and out of network stuff.  A part time job with better insurance than that?  Wow.  Amazing to me.
« Last Edit: January 16, 2019, 07:28:12 AM by Car Jack »

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #620 on: January 17, 2019, 09:29:34 AM »
I agree that the healthcare costs are always a possible future burden. That's why I live frugally so that I'll be prepared financially in the event of an expensive health issue.
When I get to be 60 years old I hope to obtain retiree health care from a part time job I have.

You've certainly found an ideal part time job.  In my full time job, I'm still paying $10k a year in deductibles, co-pays, and out of network stuff.  A part time job with better insurance than that?  Wow.  Amazing to me.


It's through the public schools, teaching yoga, and not sure it will pan out. I have to gain 10 service credits and be 60 years old, or have 5 service credits and be 60 (but have worked for the 5 previous years). It doesn't provide health insurance now. I use ACA for that.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #621 on: January 17, 2019, 06:44:25 PM »
Just for fun I checked out DW's school retirement healthcare coverage.

"Only" $1133 monthly for a high deductible plan... Geez.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #622 on: January 17, 2019, 07:52:46 PM »
I'm surprised by that number. If you have reached retirement within that system then you have been paying into the medical benefits for it, and then therefore your retiree premiums will be partly subsidized.

My retiree health would have 80% of the premium covered by the school's medical retirement benefits which I pay into now as an employee..

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Re: Race from $2M to $3M.....and beyond!
« Reply #623 on: January 18, 2019, 04:35:25 AM »
I'm surprised by that number. If you have reached retirement within that system then you have been paying into the medical benefits for it, and then therefore your retiree premiums will be partly subsidized.

My retiree health would have 80% of the premium covered by the school's medical retirement benefits which I pay into now as an employee..


Hopefully they don't change it on you. Nice plan. Ares isn't to bad in we don't pay much a month but we have an 8k family (6) deductible but if its ever hit anything beyond that gets reimbursed. 

Think a lot more people in our age range would be Fire'd by now if this wasn't such a concern.

Threshkin

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Re: Race from $2M to $3M.....and beyond!
« Reply #624 on: January 18, 2019, 10:46:19 AM »
I'm surprised by that number. If you have reached retirement within that system then you have been paying into the medical benefits for it, and then therefore your retiree premiums will be partly subsidized.

My retiree health would have 80% of the premium covered by the school's medical retirement benefits which I pay into now as an employee..


Hopefully they don't change it on you. Nice plan. Ares isn't to bad in we don't pay much a month but we have an 8k family (6) deductible but if its ever hit anything beyond that gets reimbursed. 

Think a lot more people in our age range would be Fire'd by now if this wasn't such a concern.

I was pleasantly surprised when we got off COBRA to have our healthcare expenses drop from ~1K/mo to less than $5/mo for a HDHP plan that allows HCA contributions.  Gotta love the ACA subsidies!  Since we are FIRE we actually need to do Trad to Roth conversions to bring our taxable income UP.  We have enough in our Trad plans to do this for 7-10 years depending on market returns.

Note: I knew our cost would go down, I was surprised (shocked), that it went down that much.)

Note2: Two adults, >50, no chronic health issues.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #625 on: January 18, 2019, 11:35:43 AM »
I'm surprised by that number. If you have reached retirement within that system then you have been paying into the medical benefits for it, and then therefore your retiree premiums will be partly subsidized.

My retiree health would have 80% of the premium covered by the school's medical retirement benefits which I pay into now as an employee..


Hopefully they don't change it on you. Nice plan. Ares isn't to bad in we don't pay much a month but we have an 8k family (6) deductible but if its ever hit anything beyond that gets reimbursed. 

Think a lot more people in our age range would be Fire'd by now if this wasn't such a concern.

I was pleasantly surprised when we got off COBRA to have our healthcare expenses drop from ~1K/mo to less than $5/mo for a HDHP plan that allows HCA contributions.  Gotta love the ACA subsidies!  Since we are FIRE we actually need to do Trad to Roth conversions to bring our taxable income UP.  We have enough in our Trad plans to do this for 7-10 years depending on market returns.

Note: I knew our cost would go down, I was surprised (shocked), that it went down that much.)

Note2: Two adults, >50, no chronic health issues.

Yes same here. In fact I have discovered that with a MAGI for between $30 and 40K the subsidy is exactly the same, plus federal income taxes are zero (at least at $30K MAGI).  I would like to convert some trad to Roth but our problem is the 9% state income tax which will nail us on the extra income. Still might be worth it to avoid some RMD taxes later.

My big problem with our shitty HC plan is if something happens out of network (like and car wreck 40 miles away from home).. This could easily lead to bankruptcy sized bills.

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Re: Race from $2M to $3M.....and beyond!
« Reply #626 on: January 18, 2019, 03:18:50 PM »
I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

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

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

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

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

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

It took a little longer than Iíd hoped due to the market being a douchebag lately but we Just hit 2 million today! Weíre officially multi-millionaires I guess! I crunched the numbers and I think our ďfat fireĒ number is around 2.5-3M so Iíll probably keep trucking away till we hit that, then Iím not sure what Iíll do.

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

Felt like we got stuck around 2.3M forever but finally hit 2.5M today! Next stop 3M... and beyond!
« Last Edit: January 18, 2019, 03:20:22 PM by webguy »

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Re: Race from $2M to $3M.....and beyond!
« Reply #627 on: January 18, 2019, 03:29:20 PM »
$2.5M at 33 years old is exceptional progress.. What you do for a living.. Rob banks?..:)

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #628 on: January 18, 2019, 04:18:55 PM »
$2.5M at 33 years old is exceptional progress.. What you do for a living.. Rob banks?..:)


Probably a high tech employee who is getting stock option bonuses that he is able to exercise.

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Re: Race from $2M to $3M.....and beyond!
« Reply #629 on: January 18, 2019, 05:14:53 PM »
I'm surprised by that number. If you have reached retirement within that system then you have been paying into the medical benefits for it, and then therefore your retiree premiums will be partly subsidized.

My retiree health would have 80% of the premium covered by the school's medical retirement benefits which I pay into now as an employee..


Hopefully they don't change it on you. Nice plan. Ares isn't to bad in we don't pay much a month but we have an 8k family (6) deductible but if its ever hit anything beyond that gets reimbursed. 

Think a lot more people in our age range would be Fire'd by now if this wasn't such a concern.

I was pleasantly surprised when we got off COBRA to have our healthcare expenses drop from ~1K/mo to less than $5/mo for a HDHP plan that allows HCA contributions.  Gotta love the ACA subsidies!  Since we are FIRE we actually need to do Trad to Roth conversions to bring our taxable income UP.  We have enough in our Trad plans to do this for 7-10 years depending on market returns.

Note: I knew our cost would go down, I was surprised (shocked), that it went down that much.)

Note2: Two adults, >50, no chronic health issues.

Yes same here. In fact I have discovered that with a MAGI for between $30 and 40K the subsidy is exactly the same, plus federal income taxes are zero (at least at $30K MAGI).  I would like to convert some trad to Roth but our problem is the 9% state income tax which will nail us on the extra income. Still might be worth it to avoid some RMD taxes later.

My big problem with our shitty HC plan is if something happens out of network (like and car wreck 40 miles away from home).. This could easily lead to bankruptcy sized bills.

We have a Kaiser plan and were told we would be in-network in any Kaiser facility nationwide.  We have not tested this though!

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #630 on: January 18, 2019, 06:29:12 PM »
Assuming you get taken to a Kaiser facility when they scrape you off the road.

Do they have Kaiser facilities country wide?

We have Providence (as Kaiser does not exist until about 50 miles north of us)

Threshkin

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Re: Race from $2M to $3M.....and beyond!
« Reply #631 on: January 18, 2019, 07:05:14 PM »
Assuming you get taken to a Kaiser facility when they scrape you off the road.

Do they have Kaiser facilities country wide?

We have Providence (as Kaiser does not exist until about 50 miles north of us)

Agreed, the lack of health care insurance portability is one of my biggest gripes about the current US system.  But Kaiser has the biggest coverage area I found.  With many policies you are screwed if you are 50 miles from home, much less across the country. 

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #632 on: January 18, 2019, 07:34:58 PM »
Assuming you get taken to a Kaiser facility when they scrape you off the road.

Do they have Kaiser facilities country wide?

We have Providence (as Kaiser does not exist until about 50 miles north of us)

Agreed, the lack of health care insurance portability is one of my biggest gripes about the current US system.  But Kaiser has the biggest coverage area I found.  With many policies you are screwed if you are 50 miles from home, much less across the country.

Yeah, its a shame because the Kaiser facilities start just 50 miles north of us AND are cheaper than the Providence plans to boot.

It all sucks big time..:(

ysette9

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Re: Race from $2M to $3M.....and beyond!
« Reply #633 on: January 18, 2019, 08:39:48 PM »
I can’t say enough good things about kaiser. Haven’t yet had to test getting care outside a Kaiser system, but my cousin seemed to have no problem when he broke his leg in Taiwan while on kaiser.

webguy

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Re: Race from $2M to $3M.....and beyond!
« Reply #634 on: January 18, 2019, 10:14:03 PM »
$2.5M at 33 years old is exceptional progress.. What you do for a living.. Rob banks?..:)

Probably a high tech employee who is getting stock option bonuses that he is able to exercise.

I wish Iíd gotten some stock options! I just run a little software development company from my home office and Iíve been fortunate that itís been pretty profitable so far.

soccerluvof4

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Re: Race from $2M to $3M.....and beyond!
« Reply #635 on: January 19, 2019, 03:10:13 AM »
$2.5M at 33 years old is exceptional progress.. What you do for a living.. Rob banks?..:)

Probably a high tech employee who is getting stock option bonuses that he is able to exercise.

I wish Iíd gotten some stock options! I just run a little software development company from my home office and Iíve been fortunate that itís been pretty profitable so far.



That's pretty sweet gig you got going! I had a really good gig when I was your age and should of fired with 3-4xs than I did but got caught up in some bad real estate investments and it all went to hell in 08 plus it was all my cash I didn't borrow any. Add to that the area flooded so bad to this day the prices haven't come back so as they say stick with what you know. Good to see young people that have there shit together! my hats off to you.  I cant complain though I was still able to fire at 50 but easily could of been 40 with same amount that I have now. Be hard at your age to not ride that gig out for awhile too as long as it doesn't start running you.

webguy

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Re: Race from $2M to $3M.....and beyond!
« Reply #636 on: January 23, 2019, 01:58:13 PM »
$2.5M at 33 years old is exceptional progress.. What you do for a living.. Rob banks?..:)

Probably a high tech employee who is getting stock option bonuses that he is able to exercise.

I wish Iíd gotten some stock options! I just run a little software development company from my home office and Iíve been fortunate that itís been pretty profitable so far.

That's pretty sweet gig you got going! I had a really good gig when I was your age and should of fired with 3-4xs than I did but got caught up in some bad real estate investments and it all went to hell in 08 plus it was all my cash I didn't borrow any. Add to that the area flooded so bad to this day the prices haven't come back so as they say stick with what you know. Good to see young people that have there shit together! my hats off to you.  I cant complain though I was still able to fire at 50 but easily could of been 40 with same amount that I have now. Be hard at your age to not ride that gig out for awhile too as long as it doesn't start running you.

Sorry to hear of your bad luck with real estate.  I think my plan as of right now is that once I hit 3.5M in a couple years then I'll use some of the profits of the business to try to hire out my role so that I can be more passive in my involvement.  3.5M should give us 2.5M invested to live off, a paid off 650k house, and a paid off 350k cabin.  Seems like that should do us just fine.

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Re: Race from $2M to $3M.....and beyond!
« Reply #637 on: January 24, 2019, 06:36:08 AM »
You're a huge inspiration @webguy.

This is from your first post on MMM over 6 years ago!

My goal that I set my wife and I is to save 250k over the next 5 years so that when we have kids at that time then we can create some flexibility in our work situations (maybe part-time or a full-time freelancer from home).
Thanks in advance!

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Re: Race from $2M to $3M.....and beyond!
« Reply #638 on: January 24, 2019, 08:34:07 AM »
You're a huge inspiration @webguy.

This is from your first post on MMM over 6 years ago!

My goal that I set my wife and I is to save 250k over the next 5 years so that when we have kids at that time then we can create some flexibility in our work situations (maybe part-time or a full-time freelancer from home).
Thanks in advance!

Just like other high earners like MMM, 1500days, MrTakoEscapes, RetireBy40, and RootOfGood were Ďinspirationalí.
« Last Edit: January 24, 2019, 08:36:26 AM by EscapeVelocity2020 »

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #639 on: January 24, 2019, 12:12:54 PM »
From a plan to save $250,000 to achieving 10X that much.  It makes one a believer in what a little frugality and thoughtful money investing can do for you.  Wow!

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #640 on: January 24, 2019, 12:21:24 PM »
"Money, money, money, must be funny, in a rich man's world"...:)

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #641 on: January 24, 2019, 11:02:14 PM »
"Money, money, money, must be funny, in a rich man's world"...:)
Always sunny, too ;-)

webguy

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Re: Race from $2M to $3M.....and beyond!
« Reply #642 on: January 25, 2019, 08:14:21 AM »
You're a huge inspiration @webguy.

This is from your first post on MMM over 6 years ago!

My goal that I set my wife and I is to save 250k over the next 5 years so that when we have kids at that time then we can create some flexibility in our work situations (maybe part-time or a full-time freelancer from home).
Thanks in advance!

Thanks, I appreciate it!  Definitely never dreamed Iíd be able to amass this much money, I was making somewhere around 60k back then I think and my wife somewhere around 39. Following a mustachian lifestyle allowed me to take some risks I wouldnít otherwise have been able to take, coupled with lots of hard work and a sprinkle of luck of course.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #643 on: January 25, 2019, 12:36:20 PM »
You're a huge inspiration @webguy.

This is from your first post on MMM over 6 years ago!

My goal that I set my wife and I is to save 250k over the next 5 years so that when we have kids at that time then we can create some flexibility in our work situations (maybe part-time or a full-time freelancer from home).
Thanks in advance!

Thanks, I appreciate it!  Definitely never dreamed Iíd be able to amass this much money, I was making somewhere around 60k back then I think and my wife somewhere around 39. Following a mustachian lifestyle allowed me to take some risks I wouldnít otherwise have been able to take, coupled with lots of hard work and a sprinkle of luck of course.

It is interesting to look down from these lofty levels and think .. How the heck did this happen?.. And "If I had about twice as much as I do now"....:).

But seriously, well done!

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #644 on: January 26, 2019, 12:29:04 PM »

-  KER SNIP -

It is interesting to look down from these lofty levels and think .. How the heck did this happen?.. And "If I had about twice as much as I do now"....:).

But seriously, well done!

- And I note he lives in the land of 10,000 taxes! -

soccerluvof4

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Re: Race from $2M to $3M.....and beyond!
« Reply #645 on: January 27, 2019, 04:55:23 AM »

-  KER SNIP -

It is interesting to look down from these lofty levels and think .. How the heck did this happen?.. And "If I had about twice as much as I do now"....:).

But seriously, well done!

- And I note he lives in the land of 10,000 taxes! -




had to laugh cuz yes he does. So much they should change there plates from lakes to taxes!

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #646 on: January 27, 2019, 07:22:40 AM »
He's killing it in money, so the taxes are inconsequential for him.
Moreover, the state of Minnesota has great schools, universities, and a good environment. So the taxes are worth it.

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #647 on: January 27, 2019, 08:15:31 AM »
He's killing it in money, so the taxes are inconsequential for him.
Moreover, the state of Minnesota has great schools, universities, and a good environment. So the taxes are worth it.

I used to live there.  It was a good place.  Maybe, it's good when a state isn't too mustachian.

onlykelsey

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Re: Race from $2M to $3M.....and beyond!
« Reply #648 on: January 28, 2019, 07:36:55 AM »
He's killing it in money, so the taxes are inconsequential for him.
Moreover, the state of Minnesota has great schools, universities, and a good environment. So the taxes are worth it.

I used to live there.  It was a good place.  Maybe, it's good when a state isn't too mustachian.

Yeah, Minnesota is great.  Great people, functioning infrastructure, great schools, great universities.  There is a balance. 

webguy

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Re: Race from $2M to $3M.....and beyond!
« Reply #649 on: January 28, 2019, 01:42:18 PM »
To be honest the taxes don't bother me. I moved here to Minnesota directly from the UK where the tax rates are pretty much the same, if not slightly higher.  Plus, Minnesota is pretty awesome!  Sure, the winter's are cold and snowy but that just adds to the variety of life!