Author Topic: Race from $2M to $4M...and Beyond!  (Read 1319998 times)

cloudsail

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Re: Race from $2M to $3M.....and beyond!
« Reply #7700 on: March 13, 2024, 12:54:25 PM »
Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!

So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.

Damn thats amazing.. Well done!

I feel a little ashamed because we have definitely strayed from mustachian ways *nervous laughter* but we wouldn't be where we are if I hadn't found MMM and the other FIRE bloggers ten years ago. At the same time, even though we spent on some pretty crazy luxuries (a lake house, a boat, an electric truck), we still managed to double our net worth without my husband's salary increasing beyond the rate of inflation. I think this is a real testament to how important investing (wisely) is and how past a certain point, you just need to be conscious about your spending (e.g. forego that country club membership, say no to the professional gardening service) and your money will multiply on its own.

ixtap

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Re: Race from $2M to $4M...and Beyond!
« Reply #7701 on: March 13, 2024, 01:04:04 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....

Turtle

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Re: Race from $2M to $4M...and Beyond!
« Reply #7702 on: March 13, 2024, 02:21:56 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....

Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

ATtiny85

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Re: Race from $2M to $4M...and Beyond!
« Reply #7703 on: March 13, 2024, 06:18:52 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....

Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…


Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #7704 on: March 13, 2024, 06:24:25 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....
Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…
Why so conservative? Asking for a friend...
« Last Edit: March 13, 2024, 09:58:56 PM by Dicey »

ixtap

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Re: Race from $2M to $4M...and Beyond!
« Reply #7705 on: March 13, 2024, 06:35:51 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....
Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…
Wht so conservative? Asking for a friend...

DH's 401ks look like this in order to achieve an overall 70/30. The rest of the bonds are in my tax deferred accounts and I bonds.

ATtiny85

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Re: Race from $2M to $4M...and Beyond!
« Reply #7706 on: March 13, 2024, 07:43:07 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....
Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…
Wht so conservative? Asking for a friend...

DH's 401ks look like this in order to achieve an overall 70/30. The rest of the bonds are in my tax deferred accounts and I bonds.

Yep, same here. Have even started shifting my rollover IRA at Vanguard from 100% equity (VTSAX) to about 90/10 (VBTLX). Trying to get our overall AA from 85/15 to 75/25 over the next year, and between her 401k, taxable and the market…the struggle is real. If the market keeps doing what it’s doing I will have to be really aggressive sometime this year. Especially with a target of maybe 65/35 the following year. Woah is me in the final phase of accumulation.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #7707 on: March 13, 2024, 10:00:04 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....
Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…
Wht so conservative? Asking for a friend...

DH's 401ks look like this in order to achieve an overall 70/30. The rest of the bonds are in my tax deferred accounts and I bonds.
Whew! You had me wor-ried.

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #7708 on: March 14, 2024, 07:12:39 AM »
@Dicey The Bogleheads wiki has a good article about this: https://www.bogleheads.org/wiki/Tax-efficient_fund_placement

I had a bit of an epiphany after reading this last year - until then I had been trying to maintain my desired asset allocation (60/40) in separately in both tax deferred and taxable. After reading his article, I decided to switch to asset allocation on my portfolio as a whole, ie both taxable and tax deferred. We have over $3M in stock in our taxable brokerage so, as a counterweight, my own IRA is mostly bonds.

tooqk4u22

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Re: Race from $2M to $3M.....and beyond!
« Reply #7709 on: March 14, 2024, 07:47:28 AM »
Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!

So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.

Damn thats amazing.. Well done!

I feel a little ashamed because we have definitely strayed from mustachian ways *nervous laughter* but we wouldn't be where we are if I hadn't found MMM and the other FIRE bloggers ten years ago. At the same time, even though we spent on some pretty crazy luxuries (a lake house, a boat, an electric truck), we still managed to double our net worth without my husband's salary increasing beyond the rate of inflation. I think this is a real testament to how important investing (wisely) is and how past a certain point, you just need to be conscious about your spending (e.g. forego that country club membership, say no to the professional gardening service) and your money will multiply on its own.

That's terrific.  We're you heavy in Tesla, Nvidia or such?   SP500 had 14.3% CAGR including dividends) over that time period so to go from $2.15M to $6.5M would have retired beating SP 500 by 10 pts (24% CAGR)  or contributing about $375k annually, or some combination. 

Just curious if great investing, inheritance, sale of property, super high income, etc?   

cloudsail

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Re: Race from $2M to $3M.....and beyond!
« Reply #7710 on: March 14, 2024, 11:57:54 AM »
Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!

So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.

Damn thats amazing.. Well done!

I feel a little ashamed because we have definitely strayed from mustachian ways *nervous laughter* but we wouldn't be where we are if I hadn't found MMM and the other FIRE bloggers ten years ago. At the same time, even though we spent on some pretty crazy luxuries (a lake house, a boat, an electric truck), we still managed to double our net worth without my husband's salary increasing beyond the rate of inflation. I think this is a real testament to how important investing (wisely) is and how past a certain point, you just need to be conscious about your spending (e.g. forego that country club membership, say no to the professional gardening service) and your money will multiply on its own.

That's terrific.  We're you heavy in Tesla, Nvidia or such?   SP500 had 14.3% CAGR including dividends) over that time period so to go from $2.15M to $6.5M would have retired beating SP 500 by 10 pts (24% CAGR)  or contributing about $375k annually, or some combination. 

Just curious if great investing, inheritance, sale of property, super high income, etc?

Yes, we are actively contributing to our stash still. We do still save a significant portion of our sizable income, so it isn't all investments lol. We're not frugal anymore by any stretch of the imagination but we haven't gone completely off the rails.

We do have high exposure in one stock because my husband works there, and it has done well but not phenomenally. Due to high volatility we may have done better than the SP500 depending on when the vesting dates were, hard to figure out because we also sell periodically. My husband got a large jump in pay in late 2016/early 2017, which is what brought us to 2+M in late 2019. His salary has actually decreased since those days due to how compensation works at these companies (you make the most money the first few years you work there unless you get promoted), but obviously it's still quite a lot.

So basically it took us 9 years to get to 1M, 3 years to get to 2M, then 4 years to get to 6M.
« Last Edit: March 14, 2024, 12:00:02 PM by cloudsail »

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #7711 on: March 14, 2024, 12:50:07 PM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

farmecologist

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Re: Race from $2M to $4M...and Beyond!
« Reply #7712 on: March 15, 2024, 08:45:08 AM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

Our balance can fluctuate wildly, mostly because I trade high risk stocks ( mostly biotech ) with my brokerage account that started out as "fun money"...but certainly is much more than that now.  In fact, after being above 4M for a while this year, we are slightly under now.  Stock trading isn't for everyone, and due to wall St. manipulation you have to have "balls of steel" to be in some of these stocks.  However, it has paid off handsomely over the years and has been a very nice side gig, and I find it to be a fun "hobby" in a weird sort of way.

All of our other non "fun money" accounts, retirement accounts, etc... are in sensible "bogleheads" types of investments.


pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #7713 on: March 19, 2024, 09:05:43 AM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

Wow!  Three days to freedom!   Some Fridays are better than others. 

Turtle

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Re: Race from $2M to $4M...and Beyond!
« Reply #7714 on: March 19, 2024, 09:40:57 AM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

Congratulations!  Are they having a going away party for you at work?


jeroly

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Re: Race from $2M to $4M...and Beyond!
« Reply #7715 on: March 20, 2024, 05:44:39 AM »
It was a bit wild for me to watch my individual NW soar past our race's midway mark, if only for a couple of hours last week, as I was traipsing around New Zealand.  I suppose this could forever be my NW's high-water-mark, but if I make it to 70 I'll start getting a boost from SS that might help tip it back over the line even if the markets never get higher than this (i.e. 'The Top is In').

The trip was expensive yet I return to more money than when I left. The 'magic firehose of money' can't go on forever, so it's a good thing I don't usually spend quite like I did on this trip.  A lot of the costs were really hard to avoid - $1k airfare, $500 in hut fees and shuttle bus reservations to do the treks, $500 for my share of car rentals, $200 gas, pricier hotels and AirBnbs due to summer season ($125/night avg. I think).  Probably will wind up costing me around $7k for everything, or around $1,750/week.  That's more than I have budgeted for this year's travel on a weekly basis ($1,500/wk), but I have two cheaper per week trips coming up (Sumatra, then Serbia/Montenegro/Albania) that should get the numbers back in line.

It was fun to never have had to use cash for anything in NZ - I took out $100 before I left and returned with $100 - and virtually everything is tap-to-pay as well. Even all the vendors at the local agricultural fair we happened upon in Wanaka were cashless.

By the way, anybody who does multi-day hikes would be well advised to grab a reservation for one of New Zealand's Great Walks in the 24-25 season when they become available in a few weeks!  They are really fantastic, especially when you get very lucky with the weather as I did!  I did the Routeburn, Kepler, and Milford Tracks (in that order) and loved all three, and did day hikes on the Queen Charlotte Track as well as the Tongariro Alpine Crossing, on top of local walks up Ben Lomond mountain above Queenstown, and up Mount Mounganui in Tauranga.  It was all beautiful, mostly challenging with lots of elevation gain, and a fantastic collective experience as well with the other hikers that you would meet in the huts and along the trail.

MaybeBabyMustache

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Re: Race from $2M to $4M...and Beyond!
« Reply #7716 on: March 20, 2024, 08:16:19 AM »
@jeroly - super intrigued & this is now going on my bucket travel list!

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Re: Race from $2M to $4M...and Beyond!
« Reply #7717 on: March 20, 2024, 08:25:30 AM »
I spent March 2017 in New Zealand.  I think after using points and such I came in at about $6k.  Can’t wait to go back, but it is a place where I feel one needs to make it a long trip.  The only Great walk I did was the on that included Tongariro.

jeroly

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Re: Race from $2M to $4M...and Beyond!
« Reply #7718 on: March 20, 2024, 10:33:26 AM »
@jeroly - super intrigued & this is now going on my bucket travel list!
@MaybeBabyMustache , it deserves a place on that list!  To do the walks, you have to stay on top of when the hut bookings go on line for the next season (in this case, July 2024 - Jun 2025) by checking at https://www.doc.govt.nz/parks-and-recreation/places-to-go/online-bookings/

- they say they will give two weeks notice.

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Re: Race from $2M to $4M...and Beyond!
« Reply #7719 on: March 20, 2024, 02:25:43 PM »
Fantastic to hear about NZ adventures. I had several trips there years ago. Hiked the Tongariro Crossing on one and the Routeburn Track on another. Spectacular hikes, or tramps as they call them in NZ. I was skeptical of the huts before going, but after hiking for two hours uphill in the rain on day one of the Routeburn track, walking across the bridge through that breezeway out onto the covered deck of the hut convinced me they’re okay!

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #7720 on: March 20, 2024, 03:43:35 PM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

Congratulations!  Are they having a going away party for you at work?
We had the party yesterday and the company provided a BBQ lunch for everyone in the department. I truly love my coworkers and will make every effort to stay in contact with many of them.
No work today or tomorrow. Friday I clean out or trash my stuff and turn in my keys. Thankfully I signed a contract 12 months ago to leave for a bonus. I didn't need the bonus, I needed to force myself away. I'd OMY till death otherwise. I shed a tear yesterday driving home reflecting back on how much love they all showed me at the party.

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #7721 on: March 20, 2024, 03:46:09 PM »
It was a bit wild for me to watch my individual NW soar past our race's midway mark, if only for a couple of hours last week, as I was traipsing around New Zealand.  I suppose this could forever be my NW's high-water-mark, but if I make it to 70 I'll start getting a boost from SS that might help tip it back over the line even if the markets never get higher than this (i.e. 'The Top is In').

The trip was expensive yet I return to more money than when I left. The 'magic firehose of money' can't go on forever, so it's a good thing I don't usually spend quite like I did on this trip.  A lot of the costs were really hard to avoid - $1k airfare, $500 in hut fees and shuttle bus reservations to do the treks, $500 for my share of car rentals, $200 gas, pricier hotels and AirBnbs due to summer season ($125/night avg. I think).  Probably will wind up costing me around $7k for everything, or around $1,750/week.  That's more than I have budgeted for this year's travel on a weekly basis ($1,500/wk), but I have two cheaper per week trips coming up (Sumatra, then Serbia/Montenegro/Albania) that should get the numbers back in line.

It was fun to never have had to use cash for anything in NZ - I took out $100 before I left and returned with $100 - and virtually everything is tap-to-pay as well. Even all the vendors at the local agricultural fair we happened upon in Wanaka were cashless.

By the way, anybody who does multi-day hikes would be well advised to grab a reservation for one of New Zealand's Great Walks in the 24-25 season when they become available in a few weeks!  They are really fantastic, especially when you get very lucky with the weather as I did!  I did the Routeburn, Kepler, and Milford Tracks (in that order) and loved all three, and did day hikes on the Queen Charlotte Track as well as the Tongariro Alpine Crossing, on top of local walks up Ben Lomond mountain above Queenstown, and up Mount Mounganui in Tauranga.  It was all beautiful, mostly challenging with lots of elevation gain, and a fantastic collective experience as well with the other hikers that you would meet in the huts and along the trail.

This is why I retired. It wasn't stress at work. It's to visit our beautiful world.
Thanks for sharing this with us.

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #7722 on: March 20, 2024, 04:09:48 PM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

Congratulations!  Are they having a going away party for you at work?
We had the party yesterday and the company provided a BBQ lunch for everyone in the department. I truly love my coworkers and will make every effort to stay in contact with many of them.
No work today or tomorrow. Friday I clean out or trash my stuff and turn in my keys. Thankfully I signed a contract 12 months ago to leave for a bonus. I didn't need the bonus, I needed to force myself away. I'd OMY till death otherwise. I shed a tear yesterday driving home reflecting back on how much love they all showed me at the party.

You'll have the memories to the end of your days.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #7723 on: March 20, 2024, 05:46:06 PM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

Congratulations!  Are they having a going away party for you at work?
We had the party yesterday and the company provided a BBQ lunch for everyone in the department. I truly love my coworkers and will make every effort to stay in contact with many of them.
No work today or tomorrow. Friday I clean out or trash my stuff and turn in my keys. Thankfully I signed a contract 12 months ago to leave for a bonus. I didn't need the bonus, I needed to force myself away. I'd OMY till death otherwise. I shed a tear yesterday driving home reflecting back on how much love they all showed me at the party.

Congratulations.. The company I worked for until 2012, they have a monthly get together and always invite me to come.

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #7724 on: March 20, 2024, 07:01:32 PM »
@MoneyTree  come on over- we don’t punch “much” in these parts! Congratulations on your $2 million mark!

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Re: Race from $2M to $4M...and Beyond!
« Reply #7725 on: March 20, 2024, 07:58:33 PM »
@MoneyTree  come on over- we don’t punch “much” in these parts! Congratulations on your $2 million mark!
Thanks [mention]couponvan [/mention]!  Just breached the $2M mark today, and looking forward to continued learning from the folks here!

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #7726 on: March 20, 2024, 08:07:21 PM »
@MoneyTree  come on over- we don’t punch “much” in these parts! Congratulations on your $2 million mark!
Thanks [mention]couponvan [/mention]!  Just breached the $2M mark today, and looking forward to continued learning from the folks here!

Its’s more like a retirement party every month, but we love to welcome new racers.

@Bateaux what words of wisdom do you have to impart on your last hurrah before signing into the beyond? Congratulations on your retirement and many happy trails in the future!

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #7727 on: March 20, 2024, 09:59:04 PM »
@MoneyTree  come on over- we don’t punch “much” in these parts! Congratulations on your $2 million mark!
Thanks [mention]couponvan [/mention]!  Just breached the $2M mark today, and looking forward to continued learning from the folks here!

Its’s more like a retirement party every month, but we love to welcome new racers.

@Bateaux what words of wisdom do you have to impart on your last hurrah before signing into the beyond? Congratulations on your retirement and many happy trails in the future!

Honestly I want to thank you guys for all the advice and encouragement. It seems like yesterday that I was crossing into and out of the 2M mark with daily ups and downs. Now looking at Beyond territory and no more work days. You just keep pounding forward, you don't let the daily news or naysayers discourage you.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #7728 on: March 20, 2024, 10:38:52 PM »
Well a cool $23k was added to our net worth today.. Not too shabby.

If we believe Zillow we are definitely into "beyond" territory.. Although I'm not sure counting the house is allowed.. Don't even talk about pensions..:)

UnleashHell

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Re: Race from $2M to $4M...and Beyond!
« Reply #7729 on: March 21, 2024, 03:57:32 AM »
@MoneyTree  come on over- we don’t punch “much” in these parts! Congratulations on your $2 million mark!
Thanks [mention]couponvan [/mention]!  Just breached the $2M mark today, and looking forward to continued learning from the folks here!

Its’s more like a retirement party every month, but we love to welcome new racers.

@Bateaux what words of wisdom do you have to impart on your last hurrah before signing into the beyond? Congratulations on your retirement and many happy trails in the future!

Honestly I want to thank you guys for all the advice and encouragement. It seems like yesterday that I was crossing into and out of the 2M mark with daily ups and downs. Now looking at Beyond territory and no more work days. You just keep pounding forward, you don't let the daily news or naysayers discourage you.

you finally quit???


woohoo.


I thought I'd never see the day!!

well done

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #7730 on: March 21, 2024, 05:36:42 AM »
Glad you made it, @Bateaux !

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #7731 on: March 21, 2024, 09:26:17 AM »
Glad you made it, @Bateaux !

Hard work, community service and frugality can still give the American dream.

Laissez les bons temps rouler

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #7732 on: March 21, 2024, 09:32:31 AM »
Since this is a race about money, I am probably one of the slackers given how long I have been around.

We updated our net worth and are at $3.25 million now after paying $125K for OOS tuitions last year. That was only at 10% increase over last year, but considering the spending we are doing I am OK with it. Our original goal was either $2.0MM and a paid off house or $2.5MM and a paid off house. I was off work for 4 years on a smoke break, so the race slowed down!

We are also still somewhat helping our oldest out. We should really sell our current home and downsize, but that 2.5% interest rate is so nice.

lhamo

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Re: Race from $2M to $4M...and Beyond!
« Reply #7733 on: March 21, 2024, 10:32:30 AM »
Retirement accounts have crossed the 1 mill line -- top is in?

ixtap

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Re: Race from $2M to $4M...and Beyond!
« Reply #7734 on: March 21, 2024, 11:00:12 AM »
Retirement accounts have crossed the 1 mill line -- top is in?

Payday is tomorrow, so markets will hold through then.

Furthermore, there are only a few more paychecks to max out deferred contributions.  MBR contributions are smaller and unmatched. Murphy says the markets will likely hold until contributions are reduced.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #7735 on: March 21, 2024, 11:10:53 AM »
The new market highs this month pushed us past that last ~$3,000 to get over the $4M threshold.

The last of my wife's inheritance came in yesterday.  $160,000 and change, so now we're solidly over.

LightTripper

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Re: Race from $2M to $4M...and Beyond!
« Reply #7736 on: March 21, 2024, 11:46:58 AM »
Congratulations @Bateaux !!

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #7737 on: March 21, 2024, 12:34:01 PM »
Retirement accounts have crossed the 1 mill line -- top is in?

Yay! But how much will you borrow for your spendypants house re-model?... :). I have yet to look at the plans BTW.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #7738 on: March 21, 2024, 12:36:40 PM »
@couponvan I don't think anyone of working age that has $3M+ (and started from nothing) could be called a slacker! At least not with a straight face..:)

lhamo

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Re: Race from $2M to $4M...and Beyond!
« Reply #7739 on: March 21, 2024, 01:12:07 PM »
Retirement accounts have crossed the 1 mill line -- top is in?

Yay! But how much will you borrow for your spendypants house re-model?... :). I have yet to look at the plans BTW.

Not planning to borrow anything or withdraw from retirement -- I have around 400k in my brokerage/savings and that is where the remodel money and my living expenses for the next 4 years are coming from. I MIGHT also still earn a bit from a PT or side gig, or start the business I have been mulling over, in order to pad things a little bit more and maybe speed up the kitchen remodel. 

I should send you the revised plans...

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #7740 on: March 21, 2024, 01:35:57 PM »
@couponvan I don't think anyone of working age that has $3M+ (and started from nothing) could be called a slacker! At least not with a straight face..:)

I did get an inheritance at 18, but that was for college and was down to $0 and minus by the time DH finished law school. So I started ahead of zero, went below zero, and we came out on the other side. Paying for three kids in OOS college I figure is about $.5 million of their inheritances invested in them.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #7741 on: March 21, 2024, 02:39:23 PM »
Retirement accounts have crossed the 1 mill line -- top is in?

Yay! But how much will you borrow for your spendypants house re-model?... :). I have yet to look at the plans BTW.

Not planning to borrow anything or withdraw from retirement -- I have around 400k in my brokerage/savings and that is where the remodel money and my living expenses for the next 4 years are coming from. I MIGHT also still earn a bit from a PT or side gig, or start the business I have been mulling over, in order to pad things a little bit more and maybe speed up the kitchen remodel. 

I should send you the revised plans...

Haha.. I was very confident you wouldn't be borrowing anything for the remodel.

Sadly I do have a friend who never quite got around to having me look at her finances, even though she has been saying she wants me to for roughly 10 years now...

A while back she showed me all these plans to re-model her house she had drawn up and it was going to cost her $200,000.. For the remodel. I then asked her how much she thought the work would increase the value of her house by?.. Deer in the headlights look!

The real answer is maybe by $25 to 50k.. Its still a little house and is not adding bedrooms or much in the way of livable space.


arcturus

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Re: Race from $2M to $4M...and Beyond!
« Reply #7742 on: March 21, 2024, 03:31:04 PM »
Congratulations @Bateaux !   I am excited to hear your updates in your new adventure!

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #7743 on: March 21, 2024, 05:56:22 PM »
Congratulations @Bateaux

SEAK

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Re: Race from $2M to $4M...and Beyond!
« Reply #7744 on: March 21, 2024, 07:48:08 PM »
Very excited to finally join this thread.

50yo, wife 47, 16 and 14yo kiddos. Investments are sitting just over $2M not including our state pensions (currently $70k/yr and increasing every year I decide to continue working) or the kiddos 529s.

MaybeBabyMustache

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Re: Race from $2M to $4M...and Beyond!
« Reply #7745 on: March 21, 2024, 08:18:11 PM »
Welcome, & congratulations @SEAK !

Simpli-Fi

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Re: Race from $2M to $4M...and Beyond!
« Reply #7746 on: March 21, 2024, 08:25:40 PM »
Well a cool $23k was added to our net worth today.. Not too shabby.
another $10k+ day bringing YTD over my annual base salary…not too shabby at all coming to the end of Q1.

ATtiny85

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Re: Race from $2M to $4M...and Beyond!
« Reply #7747 on: March 22, 2024, 09:16:19 AM »
Well a cool $23k was added to our net worth today.. Not too shabby.
another $10k+ day bringing YTD over my annual base salary…not too shabby at all coming to the end of Q1.

Yeah, about the same here. I rebalanced/moved another pile of VTSAX to VBTLX yesterday in my rollover IRA as I work towards getting us to around 75/25 equity/bonds. This move landed us at 81/19. Current plan is let things ride and check back in in Jun as we hit the halfway point.

Turtle

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Re: Race from $2M to $4M...and Beyond!
« Reply #7748 on: March 22, 2024, 01:25:43 PM »
Well a cool $23k was added to our net worth today.. Not too shabby.
another $10k+ day bringing YTD over my annual base salary…not too shabby at all coming to the end of Q1.

I was noticing the exact same phenomenon here with regards to YTD comparison.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #7749 on: March 23, 2024, 10:07:46 AM »
Our tax appointment is today. As we finalized our numbers last night, we did a quick NW tally. OMG, if we include real estate, we are so far into "...and Beyond" territory we're gobsmacked. How the hell did that happen? FWIW, we still have three fresh mortgages that we have no intention of paying off early.

After getting killed with a huge tax bill last year, it looks like we will owe nothing this year, and probably get all that was withheld from DH's pension checks back. Squee!