Author Topic: Race from $2M to $3M.....and beyond!  (Read 46813 times)

Exflyboy

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Re: Race from $2M to $3M
« Reply #200 on: December 08, 2017, 04:31:33 PM »
State pensions and city pensions are all susceptible to being cut in a bankruptcy. City of Detroit employees had their pensions lowered due to the bankruptcy. The state of Illinois and the city of Chicago pensions may eventually be cut down in bankruptcy court.

True, the State has visited court a few times trying to cut the benefits paid under PERs.. Each time they have been sent home with their tail between their legs. I think you'r right though, one day they will prevail.

Fortunately for us the Oregon pension is pretty small and the much better protected UK pension is somewhat larger.

Sounds like if the directors tried raiding the pension funds in the UK they would get a one way ticket to prison! They can't do it anyway because the pension funds have to be in a separate financial company.


itchyfeet

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Re: Race from $2M to $3M
« Reply #201 on: December 09, 2017, 06:00:22 AM »
I just logged into my brokerage account and it is showing that the returns I have generated on my stock investments this year are a 18.94% pa.

That is pretty mind blowing, when there was a lot of predictions of flat or down markets for 2017 at the end of last year.

It’s unfortunate that all my NW is not sitting in my brokerage. It’s only about 20% of my NW at this time. Sigh.

A big chunk of my NW (50%) is in a few properties I own and these assets have performed no where near as well as stock in the past year, and values have in fact been declining over the past 6 months. 🙁

But in 2015 and 2016 my property investments performed far stronger than stocks. They were the assets providing 20% returns. I guess that is what diversification provides, a levelling out of volatility by investing across asset classes. My diversification is working so I have to be happy.

I have been slowly changing my investment mix away from property over the past few years, but it takes time.

I also have another big chunk in Australian Superannuation Funds (like 401K) (30% of NW) that is invested by the fund managers with a heavy skew to Australian stocks and Australian fixed interest, which have not performed particularly well in the past year relative to global markets, but still not too bad.

Overall my total portfolio returns have now slipped a smidge below 10% for the year with my properties dragging things down, and me carrying a bit of cash throughout the year. Of course if I could get 10% every year I’d take it!

Still 19% on stocks WOW!!!.
« Last Edit: December 09, 2017, 06:03:20 AM by itchyfeet »

Bateaux

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Re: Race from $2M to $3M
« Reply #202 on: December 09, 2017, 07:48:21 AM »
I just logged into my brokerage account and it is showing that the returns I have generated on my stock investments this year are a 18.94% pa.

That is pretty mind blowing, when there was a lot of predictions of flat or down markets for 2017 at the end of last year.

It’s unfortunate that all my NW is not sitting in my brokerage. It’s only about 20% of my NW at this time. Sigh.

A big chunk of my NW (50%) is in a few properties I own and these assets have performed no where near as well as stock in the past year, and values have in fact been declining over the past 6 months. 🙁

But in 2015 and 2016 my property investments performed far stronger than stocks. They were the assets providing 20% returns. I guess that is what diversification provides, a levelling out of volatility by investing across asset classes. My diversification is working so I have to be happy.

I have been slowly changing my investment mix away from property over the past few years, but it takes time.

I also have another big chunk in Australian Superannuation Funds (like 401K) (30% of NW) that is invested by the fund managers with a heavy skew to Australian stocks and Australian fixed interest, which have not performed particularly well in the past year relative to global markets, but still not too bad.

Overall my total portfolio returns have now slipped a smidge below 10% for the year with my properties dragging things down, and me carrying a bit of cash throughout the year. Of course if I could get 10% every year I’d take it!

Still 19% on stocks WOW!!!.

I don't want to knock owning real assets.  I hope to buy a homestead for retirement soon.  Property gains are most easily made on the front end.  We do own property now, an old bayou fishing camp on stilts.   It was cheap and we fixed it up.  Now million dollar homes surround it and have really screwed up the atmosphere.
Stocks can be volatile, I certainly didn't expect a 23% return this year but that's where were at.  It's put us to within about 8% of our FIRE goal.  If I don't move out the goal.
« Last Edit: December 09, 2017, 08:52:48 AM by Bateaux »
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MaybeBabyMustache

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Re: Race from $2M to $3M
« Reply #203 on: December 09, 2017, 11:42:49 AM »
Sounds like you've jumped right through the $3M point.  Waiting for someone to start a $3M->$4M thread.  I know some here are reluctant, taking to heart the MMM story.  How could anyone have more than $1M and not retire?

I'll take a stab at the question. I was waiting to buy a house, after we'd relocated for work. It took close to 4 years before we could afford a house (super HCOL, Bay Area). Now that we have the house, I'm waiting to determine the full impact on our taxes, and our overall budget. Our house is insanely expensive, and the property tax is as well. We thought we had a good sense of our take home, but with the new tax bill, it's unclear what we'll be left with. We have both state tax as well as property tax, and it's tough to get a sense of how this will play out at our income level.

Aside from the financial sense, we needed to sell our rental property to fully fund the stache that will now allow me to retire/go part-time. That house sold in September. There's also the emotional side. My husband has had some uneasiness about me leaving a high paying job without a few details sorted. We've been working through all of those. I'm planning to FIRE in June of 2018. My husband won't FIRE, both based on desire, and because we have sevenish more years until our kids are out of school & we can sell this house.

JoJoP

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Re: Race from $2M to $3M
« Reply #204 on: December 09, 2017, 09:15:39 PM »
Welcome, @PhrugalPhan .  It's great to see this thread really coming to life.  Anyway you want to count it up is fine with us.    I hope they don't start a thread with a higher number because it would split the group. 

Somebody asked up thread about frugal travel, aka the high/low life.  We travel strictly on points, and then try to get out of tourist areas.   Also, destinations can be chosen for economic reasons-- that would mean NOT London, Paris, Rome, Iceland, or Hawaii.   Your dollar will stretch if you get out of the mainstream places.  Asia, Eastern Europe and Latin America are bargains.  Consider a housing swap or AirBnB rental.  If you have access to a basic kitchen, you can eat most of your meals in the room.   

@MaybeBabyMustache , it sounds like a prudent move to wait and see how things shake out after buying the pricey home.  You could give it a year or two before figuring out where best to move the pieces on your financial chessboard.    Is your rental showing a positive cash flow?  Would you have a big capital gain if you sold it? That could wipe out any reason to sell.  Can you keep it and take the slow route, meaning use the profit from the rental to pay down your mortgage, instead of selling it?

MaybeBabyMustache

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Re: Race from $2M to $3M
« Reply #205 on: December 10, 2017, 08:02:12 AM »
Welcome, @PhrugalPhan .  It's great to see this thread really coming to life.  Anyway you want to count it up is fine with us.    I hope they don't start a thread with a higher number because it would split the group. 

Somebody asked up thread about frugal travel, aka the high/low life.  We travel strictly on points, and then try to get out of tourist areas.   Also, destinations can be chosen for economic reasons-- that would mean NOT London, Paris, Rome, Iceland, or Hawaii.   Your dollar will stretch if you get out of the mainstream places.  Asia, Eastern Europe and Latin America are bargains.  Consider a housing swap or AirBnB rental.  If you have access to a basic kitchen, you can eat most of your meals in the room.   

@MaybeBabyMustache , it sounds like a prudent move to wait and see how things shake out after buying the pricey home.  You could give it a year or two before figuring out where best to move the pieces on your financial chessboard.    Is your rental showing a positive cash flow?  Would you have a big capital gain if you sold it? That could wipe out any reason to sell.  Can you keep it and take the slow route, meaning use the profit from the rental to pay down your mortgage, instead of selling it?

The rental house is sold. :-) We sold it in September & cleared about $700K after taxes. We are still waiting for a final number after 2017 ends. But, that was the estimate our accountant gave us. I've set my FIRE date for June to give me the flexibility of making any last minute adjustments as needed, after taxes.

Dicey

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Re: Race from $2M to $3M
« Reply #206 on: December 10, 2017, 08:27:39 AM »
^Nice number!^. Sounds like CA or East Coast Real Estate. (Sorry if you've mentioned it before) Hopefully the tax estimates were high and there will be a bit more fun money headed your way,
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JoJoP

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Re: Race from $2M to $3M
« Reply #207 on: December 10, 2017, 09:03:49 AM »


The rental house is sold. :-) We sold it in September & cleared about $700K after taxes. We are still waiting for a final number after 2017 ends. But, that was the estimate our accountant gave us. I've set my FIRE date for June to give me the flexibility of making any last minute adjustments as needed, after taxes.
[/quote]

Nice!  That's a chunk of change.  Are you paying down your mortgage with it? 

farmecologist

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Re: Race from $2M to $3M
« Reply #208 on: December 10, 2017, 09:04:17 AM »
State pensions and city pensions are all susceptible to being cut in a bankruptcy. City of Detroit employees had their pensions lowered due to the bankruptcy. The state of Illinois and the city of Chicago pensions may eventually be cut down in bankruptcy court.

True, the State has visited court a few times trying to cut the benefits paid under PERs.. Each time they have been sent home with their tail between their legs. I think you'r right though, one day they will prevail.

Fortunately for us the Oregon pension is pretty small and the much better protected UK pension is somewhat larger.

Sounds like if the directors tried raiding the pension funds in the UK they would get a one way ticket to prison! They can't do it anyway because the pension funds have to be in a separate financial company.

I'm a bit worried for states/municipalities and their pension plans regarding this new tax plan.  Seems like one intangible effect down might be to place more burden on states/localities.  Might give them more ammunition to go after pensions.  Municipal bonds might also be far more risky after all is said and done.

And my company certainly did not go bankrupt when they eliminated the pension plan for 'younger' workers ( you may be able to guess the company...big tech firm ).  In my opinion it was a blatant $$$ grab from employees to feed share buybacks and such.   As an investor, I do understand 'shareholder value'.  However, for big corporations, the behind the scenes aspects of 'shareholder value' can be extremely ugly.


farmecologist

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Re: Race from $2M to $3M
« Reply #209 on: December 10, 2017, 09:09:14 AM »
Sounds like you've jumped right through the $3M point.  Waiting for someone to start a $3M->$4M thread.  I know some here are reluctant, taking to heart the MMM story.  How could anyone have more than $1M and not retire?

I'll take a stab at the question. I was waiting to buy a house, after we'd relocated for work. It took close to 4 years before we could afford a house (super HCOL, Bay Area). Now that we have the house, I'm waiting to determine the full impact on our taxes, and our overall budget. Our house is insanely expensive, and the property tax is as well. We thought we had a good sense of our take home, but with the new tax bill, it's unclear what we'll be left with. We have both state tax as well as property tax, and it's tough to get a sense of how this will play out at our income level.

Aside from the financial sense, we needed to sell our rental property to fully fund the stache that will now allow me to retire/go part-time. That house sold in September. There's also the emotional side. My husband has had some uneasiness about me leaving a high paying job without a few details sorted. We've been working through all of those. I'm planning to FIRE in June of 2018. My husband won't FIRE, both based on desire, and because we have sevenish more years until our kids are out of school & we can sell this house.


We discussed this above ( I'll forgive you for not reading the entire thread ) :-).  If I were single and/or married with no kids and healthy, then life would be a much different story.  However, we have two kids and one of us has a pre-existing chronic medical condition.   So that changes the outlook tremendously.  If healthcare would at least stabilize ( which it was at least starting to until..you know what happened ), then we could at least plan.  However, there are so many unknowns at so many levels right now that it makes planning extremely tough to do.



MaybeBabyMustache

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Re: Race from $2M to $3M
« Reply #210 on: December 10, 2017, 09:16:16 AM »


The rental house is sold. :-) We sold it in September & cleared about $700K after taxes. We are still waiting for a final number after 2017 ends. But, that was the estimate our accountant gave us. I've set my FIRE date for June to give me the flexibility of making any last minute adjustments as needed, after taxes.

Nice!  That's a chunk of change.  Are you paying down your mortgage with it?
[/quote]

No, we're keeping the money in a mix of investments vs paying it down. There is no tax incentive to pay down the mortgage, and the $700K is part of what will give me the flexibility to leave my job.

AdrianC

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Re: Race from $2M to $3M
« Reply #211 on: December 10, 2017, 12:30:37 PM »
If I were single and/or married with no kids and healthy, then life would be a much different story.  However, we have two kids and one of us has a pre-existing chronic medical condition.   So that changes the outlook tremendously.  If healthcare would at least stabilize ( which it was at least starting to until..you know what happened ), then we could at least plan.  However, there are so many unknowns at so many levels right now that it makes planning extremely tough to do.

Yes. Or you can plan but need a large margin of safety built in.

Three kids here. We can't and don't want to try to live on $40k/year (implied by a stash of $1m).

3X that is more our speed :-)

JoJoP

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Re: Race from $2M to $3M
« Reply #212 on: December 10, 2017, 06:37:48 PM »
  However, we have two kids and one of us has a pre-existing chronic medical condition.   ...   However, there are so many unknowns at so many levels right now that it makes planning extremely tough to do.

Yes. Or you can plan but need a large margin of safety built in.

Three kids here. We can't and don't want to try to live on $40k/year (implied by a stash of $1m).

3X that is more our speed :-)

Ours too!

Our property taxes and health insurance (2 adults, 2 college aged kids) total about $40K a year.  It's ridiculous.  The insurance isn't even the best, but it's good for us and will cover any catastrophic illnesses or injuries without bankrupting us. 

 I view the property taxes as business expenses, of course, because the rentals we own are our business.    I'd love to live with less overhead, but we like the substantial stream of passive income from the rentals and don't see the benefit to selling them off to simplify.  It's not hard to change a faucet or what not.  We are completely hands on with the rentals, management and repairs.   That's our job, and it averages about 10 hours a month.    We have 4 sources of income and that gives us peace of mind. 

PhrugalPhan

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Re: Race from $2M to $3M
« Reply #213 on: December 10, 2017, 08:02:00 PM »
Welcome, @PhrugalPhan .  It's great to see this thread really coming to life.  Anyway you want to count it up is fine with us.    I hope they don't start a thread with a higher number because it would split the group.
Thanks.  While I am not going to be "RE" (Retire Early) because I am already 55, I like to think I have done well considering I have never had an above average salary for this area (Northern VA - though for where I grew up this is very high salary), and I was about at $0 N.W. when I turned 36.  Since then I bought and paid off a house, survived 15 months unemployment, and a divorce.   I made a vow to myself not to be poor and take charge of my life back 20 years ago.  It hasn't been easy, but now I can survive most anything. 

If it wasn't for the pesky pension (a.k.a. golden handcuffs) I might retire in a year when the SO does.  Instead I will probably take extra vacations so we can enjoy her first years of her retirement before I head off into the sunset too.

itchyfeet

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Re: Race from $2M to $3M
« Reply #214 on: December 10, 2017, 09:06:22 PM »
My parents live on $30K USD per year ($40k AUD) + paid off house in a low cost area. They get by fine 90% of the time, and can afford a couple of short holidays each year, usually a small cruise every year and maybe a short getaway up the coast. They have dinner out with friends from time to time (certainly not every week), have gym memberships (with a pensioner discount) and spoil their grand children a little bit. They are happy enough but certainly wouldn’t mind having a little more financial means.

 Occassionally they face some financial stress like when my BIL wrote off their uninsured only car and had no money to pay for a replacement car for them. My parents managed to sell some of their stash to buy a new car, but I could see the financial angst it caused. My sister will prob pay back my parents for the smashed car one day, maybe she already has, I don’t know.

But I don’t want my parents life. I want to have greater financial freedom. I want to fly to Europe or Noth America for a couple of months at a time if I choose. I want to live in a more expensive location if I choose. Maybe one day I’ll want a fancier car, maybe I want to have season tickets for the theatre, or to drink at fancy city bars from time to time without worrying about the money.

So I have decided I want double the budget of my parents.... this then creates the need to budget for some taxation as well. I’ll try to structure my affairs to minimise taxes, but expect their to be some leakage.

The biggest difference in budget though is housing. I don’t want to live where my parents live, despite growing up there. After much debate on the topic DW and I still can’t bring ourselves to accepting living the rest of our lives in a small 1 BR apartment or studio in a desirable area. We want a little more space. Not clown house size, but maybe a place that will have a clown purchase price purely due to location. We are setting aside $750,000 USD ($1M AUD) for a home post FIRE.

So I add all our wishes and dreams up, and consider that as I am in my mid 40s and DW is not quite yet 40, it makes sense to us to work a little longer to give us the extra choices later in life.

So here we are on this thread and not already FIRE.

farmecologist

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Re: Race from $2M to $3M
« Reply #215 on: December 11, 2017, 07:52:26 AM »
  However, we have two kids and one of us has a pre-existing chronic medical condition.   ...   However, there are so many unknowns at so many levels right now that it makes planning extremely tough to do.

Yes. Or you can plan but need a large margin of safety built in.

Three kids here. We can't and don't want to try to live on $40k/year (implied by a stash of $1m).

3X that is more our speed :-)

Ours too!

Our property taxes and health insurance (2 adults, 2 college aged kids) total about $40K a year.  It's ridiculous.  The insurance isn't even the best, but it's good for us and will cover any catastrophic illnesses or injuries without bankrupting us. 

 I view the property taxes as business expenses, of course, because the rentals we own are our business.    I'd love to live with less overhead, but we like the substantial stream of passive income from the rentals and don't see the benefit to selling them off to simplify.  It's not hard to change a faucet or what not.  We are completely hands on with the rentals, management and repairs.   That's our job, and it averages about 10 hours a month.    We have 4 sources of income and that gives us peace of mind.


Exactly...and that is why we are on this thread continuing to save instead of being retired.  :-)


LessIsLess

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Re: Race from $2M to $3M
« Reply #216 on: December 11, 2017, 07:56:54 AM »
The $3m sounds large, but I suspect reaching the milestone will provide little emotional boost.  On the contrary, it may even trigger a quiet emotional drop, when the "reachers" will sigh and utter these words "Is this it?  What a bummer!" 

Dicey

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Re: Race from $2M to $3M
« Reply #217 on: December 11, 2017, 10:08:29 AM »
The $3m sounds large, but I suspect reaching the milestone will provide little emotional boost.  On the contrary, it may even trigger a quiet emotional drop, when the "reachers" will sigh and utter these words "Is this it?  What a bummer!"
FTFY

It's completely legitimate that some people have need to reach further.

Here's another perspective: We are FI, but DH's mom has Alzheimer's and lives with us, so DH still works. He loves his job. It has incredible benefits and he walks three tenths of a mile to work. We can't travel as we'd planned and he'd go stir crazy with not enough to do around here. He's four years from the top tier of a lovely Defined Benefit Pension, so why not just let things ride? Sure, you can call us "reachers" but there's no shame in making the best of a bad situation.
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DavidAnnArbor

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Re: Race from $2M to $3M
« Reply #218 on: December 11, 2017, 10:54:37 AM »
The $3m sounds large, but I suspect reaching the milestone will provide little emotional boost.  On the contrary, it may even trigger a quiet emotional drop, when the "reachers" will sigh and utter these words "Is this it?  What a bummer!"
FTFY

It's completely legitimate that some people have need to reach further.

Here's another perspective: We are FI, but DH's mom has Alzheimer's and lives with us, so DH still works. He loves his job. It has incredible benefits and he walks three tenths of a mile to work. We can't travel as we'd planned and he'd go stir crazy with not enough to do around here. He's four years from the top tier of a lovely Defined Benefit Pension, so why not just let things ride? Sure, you can call us "reachers" but there's no shame in making the best of a bad situation.

Yes everyone's situation is unique and different.

Dicey

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Re: Race from $2M to $3M
« Reply #219 on: December 11, 2017, 11:40:41 AM »
The $3m sounds large, but I suspect reaching the milestone will provide little emotional boost.  On the contrary, it may even trigger a quiet emotional drop, when the "reachers" will sigh and utter these words "Is this it?  What a bummer!"
FTFY

It's completely legitimate that some people have need to reach further.

Here's another perspective: We are FI, but DH's mom has Alzheimer's and lives with us, so DH still works. He loves his job. It has incredible benefits and he walks three tenths of a mile to work. We can't travel as we'd planned and he'd go stir crazy with not enough to do around here. He's four years from the top tier of a lovely Defined Benefit Pension, so why not just let things ride? Sure, you can call us "reachers" but there's no shame in making the best of a bad situation.

Yes everyone's situation is unique and different.
Thanks, David. It's great that you get it. LIL's comment felt unnecessarily condescending, hence my reply.
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DavidAnnArbor

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Re: Race from $2M to $3M
« Reply #220 on: December 11, 2017, 12:03:34 PM »
Message boards lack the non-written emotional/verbal/auditory cues and it's possible that the poster wasn't intending to be condescending.

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Re: Race from $2M to $3M
« Reply #221 on: December 11, 2017, 12:56:15 PM »
The $3m sounds large, but I suspect reaching the milestone will provide little emotional boost.  On the contrary, it may even trigger a quiet emotional drop, when the "reachers" will sigh and utter these words "Is this it?  What a bummer!"

Or, in my case:  "Is this it?  Whew!  Hallelujah!!"

Not because of a specific number on an investment statement.  Because of the massive relief when I realized I didn't need to work, ever again -- that I could walk any time I wanted to; that DH's job could implode, and I could still walk, and we wouldn't need to sell the house and uproot our lives and chase jobs across the country.  Because we've done all of that, more than once, and it was scary, and it sucked, and there's still part of me that can't believe my luck that all that worry and pressure is really gone for good.

IMO, the biggest luxury in life -- the biggest privilege -- is being able to figure out who you want to be without even considering how to support yourself doing it.  It is a privilege I never had growing up; heck, if you'd asked me back then, I'd have told you that kind of freedom existed only in the world of trust funds and silver spoons. 

I still don't know the answer, btw.  But the weight that has been lifted from my shoulders while I'm figuring it out is immense.  And the funny thing is that I didn't even know there was a giant weight on my chest until it was gone and I could suddenly breathe.
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Dicey

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Re: Race from $2M to $3M
« Reply #222 on: December 11, 2017, 05:42:23 PM »
Message boards lack the non-written emotional/verbal/auditory cues and it's possible that the poster wasn't intending to be condescending.
Sure, it's possible.
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Re: Race from $2M to $3M
« Reply #223 on: December 12, 2017, 05:49:33 AM »
Message boards lack the non-written emotional/verbal/auditory cues and it's possible that the poster wasn't intending to be condescending.
Sure, it's possible.



Yes, its all interpretation especially if they don't come back and support their comments. One might interpret it as if they didn't have another challenge to keep them busy like disappointed in a way. And the obvious is , everyone's situation is different. 
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JoJoP

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Re: Race from $2M to $3M
« Reply #224 on: December 14, 2017, 09:47:04 PM »
The $3m sounds large, but I suspect reaching the milestone will provide little emotional boost.  On the contrary, it may even trigger a quiet emotional drop, when the "reachers" will sigh and utter these words "Is this it?  What a bummer!"

Oh, I don't think so.   I can't imagine anyone who's saved and planned and hit 3M and thinking "What a bummer!"  I do think that one becomes more relaxed about it.  The higher the number gets, though, the more it feels like another slice of cake.   It's good, and then better, and then really good and even better.    I'm still kind of surprised, it's so cool, to have a high NW.  Like, wow, that's  me, squarely in the multi-millionaire ranks no matter how I slice and dice my NW.

I just like to see my NW grow.  It's all good.  There's plenty of leeway now for little ups and downs.    I track my NW now, maybe more than ever thanks to Mint, and the bigger the number gets, the more I realize that we can most likely roll with any punches.  There's no real goal to hit a higher number anymore.  My plan is to just live my life the same way I always have- frugal as a mindset- and if it keeps going up, great.   And, it does keep going up, and I'm not doing anything different at all.   My focus isn't on growing NW, it's on being debt free.  Our debt/NW is less than 25%, maybe more like 20%, but I'm chipping away at it, and it's great to pay off a mortgage, or get one down below 100K, or whatever my current goal happens to be.    All of our debt is mortgage debt, in case you were wondering.  4 mortgages, with one 62Ker squarely pegged to be paid off with our surplus liquidity in the first quarter of 2018.   I paid off 2 in 2017.     If I snowball correctly and with discipline, it will take about 7 years.   The rentals will pay off in about 4 years.  I want to aggressively tackle the rental mortgages, and then will reevaluate for my home.  Our debt is about 50/50 rentals and the house. 

Bateaux

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Re: Race from $2M to $3M
« Reply #225 on: December 27, 2017, 09:42:59 PM »
Where the hell y'all been?  Must have been out spending some of that money.  Not one post since 12-14-2018.  Me I've been moving some stuff around.  Been buying VBTLX ans selling some stock funds like VINIX that are up like 25%.  I was fully invested all year and finally getting some bond exposure.  I've also bought some individual stocks that have been dogs.  Mostly GE and AT&T.  GE I bought again today at blood in the street level.  AT&T has already added a 10% increase in price since buying a month ago. 
« Last Edit: December 27, 2017, 09:44:34 PM by Bateaux »
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EscapeVelocity2020

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Re: Race from $2M to $3M
« Reply #226 on: December 27, 2017, 10:24:56 PM »
I got banned from the forum for a month.  Many times I wanted to post, but I stuck as a guest and now, as a true stealth wealth devotee, I'm thinking staying a guest is probably OK.  We had a nice Christmas and look forward to this tax gift in 2018 - my paychecks will be boosted in Feb by the tax cut and then again in March by SS withholding tax being paid in full.  If this is how the US is going to be, Mustachianism is going to be a tough sell.  I enjoy good health and HDHP benefits ($1500 deposit into my HSA on Jan 1), max out with tax deferred contributions (6,900 total) - and I'll just keep doing that for the next 5 - 10 years.  If this favorable income tax treatment is reversed or health insurance market stabilizes, maybe I'll get more excited about retirement sub-55 yo, but right now it's a minefield!  I know I can navigate it for 10 years (55 - 65yo), but much more than that takes a leap of faith.

I'll probably die with way too much money, but I also enjoy sleeping with plenty of blankets in the cold as opposed to stretching them over me and hoping to sleep at all.  And I also have my kids that I want to enjoy sharing the bounty with (responsibly).
Transitioning to FIRE'd albeit somewhat cautiously...

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Re: Race from $2M to $3M
« Reply #227 on: December 28, 2017, 07:15:34 AM »
Glad you're back from the ban.  We've had a banner year no doubt.  I've taken some profits and reduced risk a bit.  I'm close to 20 percent bonds now.  I'm also likely to die with too much money, probably going to be a common occurrence of the members on this thread.   Unless I just get totally fed up one day I'm more likely extending FIRE to 2020.  I turn 50 in 2018, I'm not working past 2023 at 55 since that's offical retirement time with my company and there are benefits awarded upon that date.  With 6 weeks vacation and a week of paid personal time, I'll get by for now.   Good luck in 2018 to you all.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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Dicey

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Re: Race from $2M to $3M
« Reply #228 on: December 28, 2017, 08:21:42 AM »
I just figured that people were waiting for the month and year to end. I expect we'll pick up again soon, with new members added to the fold.
« Last Edit: December 31, 2017, 03:06:40 AM by Dicey »
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AdrianC

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Re: Race from $2M to $3M
« Reply #229 on: December 29, 2017, 09:18:50 AM »
Where the hell y'all been?  Must have been out spending some of that money.

Nah! We've been counting it...

https://youtu.be/pneBKFjxInQ

It's been a good year. NW up 20%.

itchyfeet

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Re: Race from $2M to $3M
« Reply #230 on: December 29, 2017, 01:45:14 PM »
Up 18% for 2017...... despite property prices dropping 5% in the 2nd half of the year. I expect another 5% to come off H1 2018, before the market starts to thaw a little. Hopefully stocks will continue to perform.

Looking forward to passing $3M AUD in 2018..... yes it’s only 2.3M USD, but still a nice round number to shoot for nine the less (before June maybe 🤞).

wannabe-stache

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Re: Race from $2M to $3M
« Reply #231 on: January 02, 2018, 01:40:16 PM »
i wasn't tracking NW until May 2017 and it's up an unreal amount in that time frame.  started at $2.1M, ended the year at $2.8M.

With some year end bonus payments expected this month, at this pace (putting aside market volatility) i would bet anything we're at $3.0M by mid Feb if not sooner. it's unreal how it grows even from day to day.

farmecologist

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Re: Race from $2M to $3M
« Reply #232 on: January 02, 2018, 02:21:46 PM »
Ended the year at 2.2M total..including paid-off house.  1.9M in investable assets.  Some big gains in the stock trading account helped accelerate what was already a great year.  Not too shabby!



« Last Edit: January 02, 2018, 02:23:38 PM by farmecologist »

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Re: Race from $2M to $3M
« Reply #233 on: January 02, 2018, 07:35:02 PM »
We're up 340K for the year and 1.9M invested, also made $1500 in crypto, sold last week.  Had more fun there than the 340k
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wannabe-stache

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Re: Race from $2M to $3M
« Reply #234 on: January 10, 2018, 03:13:18 PM »
One of the interesting things i have noticed as we have approached the $3M mark: what really is a lot of $ doesn't seem like it is.

I am referring to the fact that i open personal capital, see that our net worth is $2.904M and think "wow we are so close".  In reality, we are $96,000 shy of $3M.  $96K!

That's a lot of money in absolute terms.  At least to me.

Bateaux

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Re: Race from $2M to $3M
« Reply #235 on: January 10, 2018, 03:43:56 PM »
Wife and I discussed it last night.  We're 1.91M according to Mint.  I made the comment of only being 90k from 2M.  Shouldn't be but a few months now to another million I said.  Like it's a small thing.
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Melisande

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Re: Race from $2M to $3M
« Reply #236 on: January 10, 2018, 07:30:58 PM »
Just did a quarterly check on the good ol’ net worth and it looks like we are now in the 2k-3k race. Total net worth now comes to $2,228,000 with most of that in investments & cash — only $225,000 in home equity.

I told my husband the good news. His reaction? So, I can retire now? Well, yeah, I said. But he was just joking. He wants to keep working. So, it looks like we’ll be at $3k at some point not too far down the line.

EscapeVelocity2020

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Re: Race from $2M to $3M
« Reply #237 on: January 10, 2018, 11:46:48 PM »
Just did a quarterly check on the good ol’ net worth and it looks like we are now in the 2k-3k race. Total net worth now comes to $x with most of that in investments & cash — only $225,000 in home equity.

I told my husband the good news. His reaction? So, I can retire now? Well, yeah, I said. But he was just joking. He wants to keep working. So, it looks like we’ll be at $3k at some point not too far down the line.

Why are rich people so dumb?  'k' is, and always has been since 'Roman' times = 1,000.  But yes, you have lots of money.  Looks like there is a little cornfusion on how to invest and what risk tells you is optimal - but we all live for the day and life is good.

[OMG why am I posting and telling people my opinion?  If I don't respond going forward, I've probably been banned by ARS again]
Transitioning to FIRE'd albeit somewhat cautiously...

Exflyboy

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Re: Race from $2M to $3M
« Reply #238 on: January 11, 2018, 12:02:28 AM »
Just did a quarterly check on the good ol’ net worth and it looks like we are now in the 2k-3k race. Total net worth now comes to $x with most of that in investments & cash — only $225,000 in home equity.

I told my husband the good news. His reaction? So, I can retire now? Well, yeah, I said. But he was just joking. He wants to keep working. So, it looks like we’ll be at $3k at some point not too far down the line.

Why are rich people so dumb?  'k' is, and always has been since 'Roman' times = 1,000.  But yes, you have lots of money.  Looks like there is a little cornfusion on how to invest and what risk tells you is optimal - but we all live for the day and life is good.

[OMG why am I posting and telling people my opinion?  If I don't respond going forward, I've probably been banned by ARS again]

Target on your back EV.. They way I look at it is..I can afford to be dumb.. In fact the richer I get the dumber I become..:)

EscapeVelocity2020

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Re: Race from $2M to $3M
« Reply #239 on: January 11, 2018, 12:21:50 AM »
Just did a quarterly check on the good ol’ net worth and it looks like we are now in the 2k-3k race. Total net worth now comes to $x with most of that in investments & cash — only $225,000 in home equity.

I told my husband the good news. His reaction? So, I can retire now? Well, yeah, I said. But he was just joking. He wants to keep working. So, it looks like we’ll be at $3k at some point not too far down the line.

Why are rich people so dumb?  'k' is, and always has been since 'Roman' times = 1,000.  But yes, you have lots of money.  Looks like there is a little cornfusion on how to invest and what risk tells you is optimal - but we all live for the day and life is good.

[OMG why am I posting and telling people my opinion?  If I don't respond going forward, I've probably been banned by ARS again]

Target on your back EV.. They way I look at it is..I can afford to be dumb.. In fact the richer I get the dumber I become..:)

Yup, even when I'm banned permanently from the forum for not being whatever Mustachianism means, I'll still be FI beyond my wildest dreams - I just will have to take it over to many of the other fora that are out there.  Reddit has a pretty cool system.
Transitioning to FIRE'd albeit somewhat cautiously...

Melisande

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Re: Race from $2M to $3M
« Reply #240 on: January 11, 2018, 04:14:08 AM »
Just did a quarterly check on the good ol’ net worth and it looks like we are now in the 2k-3k race. Total net worth now comes to $x with most of that in investments & cash — only $225,000 in home equity.

I told my husband the good news. His reaction? So, I can retire now? Well, yeah, I said. But he was just joking. He wants to keep working. So, it looks like we’ll be at $3k at some point not too far down the line.

Why are rich people so dumb?  'k' is, and always has been since 'Roman' times = 1,000.  But yes, you have lots of money.  Looks like there is a little cornfusion on how to invest and what risk tells you is optimal - but we all live for the day and life is good.

[OMG why am I posting and telling people my opinion?  If I don't respond going forward, I've probably been banned by ARS again]

Hey, I know what K means and we’re not dumb. Just an honest screw-up. Posting too late and distracted. Also, had just calculated something using K’s, so stuck in my mind.

Dicey

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Re: Race from $2M to $3M
« Reply #241 on: January 11, 2018, 04:30:29 AM »
Just did a quarterly check on the good ol’ net worth and it looks like we are now in the 2k-3k race. Total net worth now comes to $x with most of that in investments & cash — only $225,000 in home equity.

I told my husband the good news. His reaction? So, I can retire now? Well, yeah, I said. But he was just joking. He wants to keep working. So, it looks like we’ll be at $3k at some point not too far down the line.

Why are rich people so dumb?  'k' is, and always has been since 'Roman' times = 1,000.  But yes, you have lots of money.  Looks like there is a little cornfusion on how to invest and what risk tells you is optimal - but we all live for the day and life is good.

[OMG why am I posting and telling people my opinion?  If I don't respond going forward, I've probably been banned by ARS again]

Hey, I know what K means and we’re not dumb. Just an honest screw-up. Posting too late and distracted. Also, had just calculated something using K’s, so stuck in my mind.
Had EV2020 tossed an "lol" or a couple of emojis in, it might have been more obvious that it was a joke. Nobody in this club is dumb. It's a rule. 😄
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Dicey

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Re: Race from $2M to $3M
« Reply #242 on: January 11, 2018, 04:36:31 AM »
One of the interesting things i have noticed as we have approached the $3M mark: what really is a lot of $ doesn't seem like it is.

I am referring to the fact that i open personal capital, see that our net worth is $2.904M and think "wow we are so close".  In reality, we are $96,000 shy of $3M.  $96K!

That's a lot of money in absolute terms.  At least to me.
Damn straight. My first career job paid the princely (To me. At the time. A long, long time ago...) sum of $13k per year. Now, our investments can make that in a month! This shit really, really does work! Amazing!
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

Bateaux

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Re: Race from $2M to $3M
« Reply #243 on: January 11, 2018, 06:16:03 AM »

[/quote]
Had EV2020 tossed an "lol" or a couple of emojis in, it might have been more obvious that it was a joke. Nobody in this club is dumb. It's a rule. 😄
[/quote]

You don't know this dumb Cajun.  I've always been dumb, earlier in life I'd convinced myself I was smart.  Now that I'm older, I realize I fooled myself.  The formula for getting rich slowly is an easy one.  Smart people can get rich quick.  For those like me, you figure out a simple plan and stick to it for decades.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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AdrianC

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Re: Race from $2M to $3M
« Reply #244 on: January 11, 2018, 08:44:24 AM »
Hey, I know what K means and we’re not dumb. Just an honest screw-up. Posting too late and distracted. Also, had just calculated something using K’s, so stuck in my mind.

I thought you were just being coy. Congrats.

EscapeVelocity2020

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Re: Race from $2M to $3M
« Reply #245 on: January 11, 2018, 11:50:27 AM »
I'm lumping myself into the dumb and rich category, wasn't singling anyone out!  Also, acting dumb can be an awfully effective strategy - it got a whole lot more chatter than if you'd used M's.

I also wondered if you were being 'modest' / humble.
Transitioning to FIRE'd albeit somewhat cautiously...

itchyfeet

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Re: Race from $2M to $3M
« Reply #246 on: January 11, 2018, 12:23:20 PM »
Ms are grossly overused in this forum anyways...... MMM this, MMM that...

 but if you had just finished writing something with 3 Ks instead of 3 Ms we might not only have EV2020 facing censorship.

Bateaux

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Re: Race from $2M to $3M
« Reply #247 on: January 11, 2018, 05:48:14 PM »
Here we are millionaires arguing K and M's.  I bet we all had days we sweated the utility bill or rent.  Seems so irrelevant now.  I'm hanging out at the New Orleans yacht club.   Rich people shit.
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Dicey

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Re: Race from $2M to $3M
« Reply #248 on: January 11, 2018, 10:09:36 PM »
After all these comments about how much everyone's accounts are up of late, I decided to pay a little attention to our account balances today. Our investment accounts grew by more than DH grossed in 2017, and we did not add any new money to them. The new money went into DH's 401k, which also did quite nicely. Crazy good mustachian fun!
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And hell yes, I am still moving confidently in the direction of my dreams...

Exflyboy

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Re: Race from $2M to $3M
« Reply #249 on: January 11, 2018, 11:43:58 PM »
As of the close today..

Investments $2,003,400

Pensions $504,000

Paid off house approx $400,000

I think by any measure we are in this pool, at least for now..:)