Author Topic: Race from $2M to $3M.....and beyond!  (Read 69911 times)

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #450 on: September 20, 2018, 09:25:11 AM »
I've taken a temporary (hopefully) hiatus from Mustacianism.  Setting up the Florida house has been rather expensive.  I'm happy we chose to make the home purchase while still employed to help absorb the costs.   We made the purchase in July and so far we've made three trips over from Louisiana to get things done.   One thing I've noticed since turning 50 this summer is I can't work hard all day and drive 600 miles with no sleep.  Ultimately we will FIRE and sell the Louisiana house.  That will cut down on lots of the expense and effort we're fighting right now. 
We do love our new home in Florida and can't wait to be there permanently.  Working hard in the yard, cleaning or painting is rewarded with a refreshing dip in the pool with an adult beverage.  We bought the 30 year old, 4,100 square foot home on an acre lot for $237,000, in a golf and country club community.  The HOA is only a $100 a year because amenities are optional.   We may join the social club and gym when we move.  It's about the cost of the YMCA from what we've heard.  I don't golf.  We run, bike and do water sports.  Tennis is included with the gym I think.  We finally have furniture in one bedroom.   We'd been sleeping on a mattress on the floor.  Our final night there last week we slept in a bed!   It was a Craigslist purchase.  It's a $3000 set we bought with a few wear marks for $850.   Also $30 for a U-haul trailer we rented for behind our truck.  We managed to take a day off and tube the beautiful Rainbow River.  Can't wait to enjoy the natural playground that the Nature Coast provides.  It's still possible we will FIRE in 2019 but 2020 looks more likely.  We've depleted a lot of our cash reserves even though our retirement accounts have been very powerful lately.  Right now it's less stressful working a bit longer than adding stress about cash flow.  That's all I've got to report for now.
« Last Edit: September 20, 2018, 09:32:08 AM by Bateaux »

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #451 on: September 20, 2018, 10:02:46 AM »
Nothing wrong with taking breaks from Mustachianism in my book.  I converted a 600k 401k from an old employer into money market funds instead of S&&P500 index.  Was it a good idea - of course not in a Mustachian sense, but it's been nothing but win-win for me personally.  Let's just say the market goes up 10% this year, that 60k opportunity cost sounds pretty painful.  But it also means I gained over 200k in my remaining portfolio, which is still over 2x my projected ER spending!  And I'm much more relaxed while I do other big things in my life and pretty much ignore the market.  If the market ends up down 10% (or 50%), I'll be much more upset having lost so much (on paper), but at least I'll have that 600k to play with.  Putting it back in the market while it is falling will suck, I know that from 2008, but it gives me peace of mind not to worry about the market this year until I get more time to figure out what I really want.  More passive income and net worth really isn't doing much for me if it's not being used to provide this peace of mind.  So yeah, I guess I'm on hiatus from being an uber-efficient, cold and calculated Mustachian for the rest of this year.  Cheers!

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #452 on: September 22, 2018, 05:02:35 PM »
I call bullshit in the supposed "break". You're doing your own moving, buying used furniture on CL and planning for your post-FIRE future. What could be more mustachian than that? It's not about never spending money, it's about spending in line with your carefully evaluated values. You're killing it, @Bateaux!

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #453 on: September 23, 2018, 04:51:28 AM »
^^^^ this^^^^..:)

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #454 on: September 23, 2018, 09:22:28 PM »
Thanks for the encouragement guys.  The big beautiful Florida home will likely become the biggest tug to FIRE.   We love it there so much already.  With Fall soon providing refreshing cooler weather the desire will be even stronger.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #455 on: September 24, 2018, 08:39:39 AM »
It sounds like a beautiful place Bateaux.  Would love to see some pictures of the area if you want to post them.

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #456 on: September 24, 2018, 11:56:05 AM »
I call bullshit in the supposed "break". You're doing your own moving, buying used furniture on CL and planning for your post-FIRE future. What could be more mustachian than that? It's not about never spending money, it's about spending in line with your carefully evaluated values. You're killing it, @Bateaux!

Bullshit or humble brag?

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #457 on: September 24, 2018, 03:33:41 PM »
I call bullshit in the supposed "break". You're doing your own moving, buying used furniture on CL and planning for your post-FIRE future. What could be more mustachian than that? It's not about never spending money, it's about spending in line with your carefully evaluated values. You're killing it, @Bateaux!

Bullshit or humble brag?
1. I've never gotten that impression from Bateaux.
2. This is a safe place. It's allowed, nay encouraged.
3. See #1.

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #458 on: September 24, 2018, 06:34:09 PM »
I call bullshit in the supposed "break". You're doing your own moving, buying used furniture on CL and planning for your post-FIRE future. What could be more mustachian than that? It's not about never spending money, it's about spending in line with your carefully evaluated values. You're killing it, @Bateaux!

Bullshit or humble brag?
1. I've never gotten that impression from Bateaux.
2. This is a safe place. It's allowed, nay encouraged.
3. See #1.

Just an update guys.   I do welcome comments, even criticism.   If it comes from those that scrapped their own way to this thread, It's worth it.

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #459 on: September 24, 2018, 08:16:16 PM »
I call bullshit in the supposed "break". You're doing your own moving, buying used furniture on CL and planning for your post-FIRE future. What could be more mustachian than that? It's not about never spending money, it's about spending in line with your carefully evaluated values. You're killing it, @Bateaux!

Bullshit or humble brag?
1. I've never gotten that impression from Bateaux.
2. This is a safe place. It's allowed, nay encouraged.
3. See #1.

Just an update guys.   I do welcome comments, even criticism.   If it comes from those that scrapped their own way to this thread, It's worth it.
If it had seemed constructive or even tongue in cheek, I would have let it pass...

I adore how civil this place is and aim to help keep it that way. Except, of course, if someone Is in dire need of a face punch, but I haven't thrown many of those lately.

I squeaked over the $100k earning line just once in my career and hit FI as a single person, so I'm definitely a scrapper, but mostly in the sense of advocating for my own financial freedom, not as in picking on others.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #460 on: September 24, 2018, 09:00:24 PM »
I squeaked over the $100k earning line just once in my career and hit FI as a single person, so I'm definitely a scrapper, but mostly in the sense of advocating for my own financial freedom, not as in picking on others.

That's my story too.

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #461 on: September 24, 2018, 09:06:38 PM »
I call bullshit in the supposed "break". You're doing your own moving, buying used furniture on CL and planning for your post-FIRE future. What could be more mustachian than that? It's not about never spending money, it's about spending in line with your carefully evaluated values. You're killing it, @Bateaux!

Bullshit or humble brag?
1. I've never gotten that impression from Bateaux.
2. This is a safe place. It's allowed, nay encouraged.
3. See #1.

Just an update guys.   I do welcome comments, even criticism.   If it comes from those that scrapped their own way to this thread, It's worth it.
If it had seemed constructive or even tongue in cheek, I would have let it pass...

I adore how civil this place is and aim to help keep it that way. Except, of course, if someone Is in dire need of a face punch, but I haven't thrown many of those lately.

I squeaked over the $100k earning line just once in my career and hit FI as a single person, so I'm definitely a scrapper, but mostly in the sense of advocating for my own financial freedom, not as in picking on others.

Guys, it was certainly meant tongue in cheek. Apologies if it came across differently

I was just laughing because here was a guy with more than $2M saying he wasn’t moustachian when he had spent just $200K on a place and was buying 2nd hand furniture. I was feeling he was bragging because he was spending so little compared to my present situation where I have a clownishly expensive inner city house.

I look forward to when I can brag that I am getting free of the rat race to a cheaper place!

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #462 on: September 24, 2018, 09:26:56 PM »
I call bullshit in the supposed "break". You're doing your own moving, buying used furniture on CL and planning for your post-FIRE future. What could be more mustachian than that? It's not about never spending money, it's about spending in line with your carefully evaluated values. You're killing it, @Bateaux!

Bullshit or humble brag?
1. I've never gotten that impression from Bateaux.
2. This is a safe place. It's allowed, nay encouraged.
3. See #1.

Just an update guys.   I do welcome comments, even criticism.   If it comes from those that scrapped their own way to this thread, It's worth it.
If it had seemed constructive or even tongue in cheek, I would have let it pass...

I adore how civil this place is and aim to help keep it that way. Except, of course, if someone Is in dire need of a face punch, but I haven't thrown many of those lately.

I squeaked over the $100k earning line just once in my career and hit FI as a single person, so I'm definitely a scrapper, but mostly in the sense of advocating for my own financial freedom, not as in picking on others.

Guys, it was certainly meant tongue in cheek. Apologies if it came across differently

I was just laughing because here was a guy with more than $2M saying he wasn’t moustachian when he had spent just $200K on a place and was buying 2nd hand furniture. I was feeling he was bragging because he was spending so little compared to my present situation where I have a clownishly expensive inner city house.

I look forward to when I can brag that I am getting free of the rat race to a cheaper place!

It's all good Itchy.  I love hearing from all of you.   I was trying to do more of a confession than a brag.

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #463 on: September 24, 2018, 10:36:03 PM »
I call bullshit in the supposed "break". You're doing your own moving, buying used furniture on CL and planning for your post-FIRE future. What could be more mustachian than that? It's not about never spending money, it's about spending in line with your carefully evaluated values. You're killing it, @Bateaux!

Bullshit or humble brag?
1. I've never gotten that impression from Bateaux.
2. This is a safe place. It's allowed, nay encouraged.
3. See #1.

Just an update guys.   I do welcome comments, even criticism.   If it comes from those that scrapped their own way to this thread, It's worth it.
If it had seemed constructive or even tongue in cheek, I would have let it pass...

I adore how civil this place is and aim to help keep it that way. Except, of course, if someone Is in dire need of a face punch, but I haven't thrown many of those lately.

I squeaked over the $100k earning line just once in my career and hit FI as a single person, so I'm definitely a scrapper, but mostly in the sense of advocating for my own financial freedom, not as in picking on others.

Guys, it was certainly meant tongue in cheek. Apologies if it came across differently

I was just laughing because here was a guy with more than $2M saying he wasn’t moustachian when he had spent just $200K on a place and was buying 2nd hand furniture. I was feeling he was bragging because he was spending so little compared to my present situation where I have a clownishly expensive inner city house.

I look forward to when I can brag that I am getting free of the rat race to a cheaper place!

It's all good Itchy.  I love hearing from all of you.   I was trying to do more of a confession than a brag.
You are hereby absolved, by the power that has been vested in me. That's MMM power, and it is mighty strong. Strong like walrus, yuk-yuk.

wannabe-stache

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Re: Race from $2M to $3M.....and beyond!
« Reply #464 on: September 25, 2018, 11:50:44 AM »
Thanks for the encouragement guys.  The big beautiful Florida home will likely become the biggest tug to FIRE.   We love it there so much already.  With Fall soon providing refreshing cooler weather the desire will be even stronger.

don't hold your breath...not sure where in FL you are but here in miami it's still so fu$#ing hot.

i ran at 5:30 this am, it was 81 degrees, humid and felt like 90.

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #465 on: September 25, 2018, 02:32:10 PM »
Thanks for the encouragement guys.  The big beautiful Florida home will likely become the biggest tug to FIRE.   We love it there so much already.  With Fall soon providing refreshing cooler weather the desire will be even stronger.

don't hold your breath...not sure where in FL you are but here in miami it's still so fu$#ing hot.

i ran at 5:30 this am, it was 81 degrees, humid and felt like 90.

It's Citrus County.  About an hour north of Tampa.  It's devils butthole hot at least half the year.  Same here in gulf coastal Louisiana.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #466 on: October 03, 2018, 12:17:03 PM »
Well damn I have never had more money than I do right now.. But I am on holiday so I don't trust the security of the WIFI connection to check what we are actually worth..

I think This 6 week European tour has been more than paid for by todays moves..:)

bigchrisb

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Re: Race from $2M to $3M.....and beyond!
« Reply #467 on: October 05, 2018, 05:19:11 AM »
Well damn I have never had more money than I do right now.. But I am on holiday so I don't trust the security of the WIFI connection to check what we are actually worth..

I think This 6 week European tour has been more than paid for by todays moves..:)

I feel much the same. Just did a bucket list diving trip to scapa flow, and saw more cash roll in as dividends than I spent while there. Helps settle down the "fear of not enough" psychology.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #468 on: October 05, 2018, 03:33:45 PM »
Clearly I spoke too soon and now I have no idea how to pay for this 6 week EU vacation... kidding..;)

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #469 on: October 06, 2018, 02:12:04 AM »
Just checked Mint.  Lost about 25K on paper.   Still over 2M invested as of now.  Wouldn't take much more to drop kick me back to sub 2M right now.   

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #470 on: October 06, 2018, 04:44:11 AM »
I’ve been lucky that $AUD drop is propping up my stash, which I measure in AUD. I have quite a bit invested in non-AUD investments. And, as I am currently paid in USD I have had a nice pay rise (in AUD) over the course of this year.

Declining property prices in Sydney are starting to cause me a little concern as I approach my FIRE date though..... but we keep having the sell/ hold discussion and keep landing on the hold side.

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #471 on: October 12, 2018, 04:10:46 AM »
-$75K for the week.

My emerging markets investments are showing a loss of 17% for 2018

My house in Sydney has dropped in value by $100k this year.

I am sitting on $50K cash and am thinking I might hold onto that cash and add to it so as to head into FIRE with a bigger cash stash (term deposits) than I was previously contemplating just so I don’t need to sell anything for a few years. My total stash looks like it will be a bit lower than I was targeting as “my number”.

FIRE date is June next year.

It will be nice not to have to worry about market gyrations for the first few years post FIRE.


Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #472 on: October 12, 2018, 05:51:00 AM »
Dipping well below the 2M invested threshold now.  Currently about 1.94M which is a 100K plus drop from the recent high.  I'm very happy to be still working.  I've set 2M invested as the floor of the action level.   During which times all unnecessary spending will be cut and employment will be sought.  I have relatives who retired prior to the  great recession.  Once the recession hit they waited too late to curb spending and too late to seek additional employment.   They thought they had plenty invested prior to the drop.  Now they have to work lesser paying jobs in their 70s.  They unfortunately didn't have the knowledge and hindsight we have today.  Many never dreamed how deep the losses would be. 
Seeing 100K evaporate so quickly was an eye opener for me.   I'm going to buy more security with time working. 
I just don't ever want to be poor again.  I'm not wasting my life working now for a large amount of money, so much as I did when poor and working for almost nothing.   I'm filled with regret for the ignorance of my youth. 

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #473 on: October 12, 2018, 08:01:04 AM »
I hear you Bateaux

I can’t tell you how many times I have had the should we or shouldn’t we talk with my DW.

Her family all live really old, so she could well have 60 years ahead of her post FIRE. I wouldn’t want for her to be struggling financially in the 2nd half of those years after I am gone (no one in my family lives long).

I am still committed to FIREing next year, but I can’t say that I am 100% sure it is the right decision.

But I am so sick of the indecisiveness so for my DW’s sanity I have had to commit to a decision and stop flip flopping..... or at least flip flopping less frequently 😝

DW plans to continue working maybe 3-6 months each year, so this gives us a little added security.

But, 1 year of me working full time would prob give the same financial outcome as DW working 15 years at 3 months a year. This makes the decision (re my obligation to her financial security in old age) a difficult one. I can make the difference. Of course there can be no guarantees, but the bigger the stash, the more the certainty.

MiserlyMiser

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Re: Race from $2M to $3M.....and beyond!
« Reply #474 on: October 12, 2018, 08:25:29 AM »
I was on my way here to complain that my investments have dropped $200k over the past few weeks and see that others have posted on the same topic.  I'm still working, and I'm trying to see this as practice for keeping my cool when I see large market fluctuations once I've retired.  To make myself feel better, I tallied up my spending during September, and I'm still comfortably within a 3% withdrawal rate, even with my smaller portfolio.  It still doesn't feel good to see such a drop, though :(

onlykelsey

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Re: Race from $2M to $3M.....and beyond!
« Reply #475 on: October 12, 2018, 08:40:02 AM »
I don't belong here but I've been binge reading so I'm posting to follow.  Maybe I'll see you in the back half of my 30s.

2Birds1Stone

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Re: Race from $2M to $3M.....and beyond!
« Reply #476 on: October 12, 2018, 11:50:39 AM »
The US stock market is only down ~7% from average peak.......hardly a correction yet.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #477 on: October 12, 2018, 02:07:01 PM »
consider this a good time to buy if you have some dry powder

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #478 on: October 12, 2018, 09:34:00 PM »
I don't belong here but I've been binge reading so I'm posting to follow.  Maybe I'll see you in the back half of my 30s.

Certainly you belong. We don't check bank accounts at the door.    Come back anytime.

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #479 on: October 12, 2018, 09:36:52 PM »
The US stock market is only down ~7% from average peak.......hardly a correction yet.

I'm just being a little whiney bitch.  Put it in bread loaves.   I had 20 loaves of bread.   I lost one loaf.  I still have 19 loaves of bread and an oven.  More loaves coming.

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #480 on: October 12, 2018, 10:30:58 PM »
The US stock market is only down ~7% from average peak.......hardly a correction yet.

I'm just being a little whiney bitch.  Put it in bread loaves.   I had 20 loaves of bread.   I lost one loaf.  I still have 19 loaves of bread and an oven.  More loaves coming.
Bateaux, I love this!

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #481 on: October 13, 2018, 05:11:33 AM »
The US stock market is only down ~7% from average peak.......hardly a correction yet.

I'm just being a little whiney bitch.  Put it in bread loaves.   I had 20 loaves of bread.   I lost one loaf.  I still have 19 loaves of bread and an oven.  More loaves coming.
Bateaux, I love this!

😂

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #482 on: October 13, 2018, 06:25:12 AM »
That post was after about four ounces of tequila. 

;)

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #483 on: October 13, 2018, 08:34:38 AM »
That post was after about four ounces of tequila. 

;)

Pretty inspired for "drunk posting".. The all important oven..:)

Much Fishing to Do

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Re: Race from $2M to $3M.....and beyond!
« Reply #484 on: October 17, 2018, 12:05:57 PM »
I was on my way here to complain that my investments have dropped $200k over the past few weeks and see that others have posted on the same topic.  I'm still working, and I'm trying to see this as practice for keeping my cool when I see large market fluctuations once I've retired.  To make myself feel better, I tallied up my spending during September, and I'm still comfortably within a 3% withdrawal rate, even with my smaller portfolio.  It still doesn't feel good to see such a drop, though :(

Understood, its really crazy when you are reaching FI and compare your SWR to volatile portfolio moves (e.g. if the market drops 8%, and your fairly well diversified portfolio drops 6% in that week, 18 months of spending seemed to just disappear before you could even get around to booting up quicken).  But I agree it is good practice and doesn't feel good....I'm not ashamed to admit that during the crisis I learned that though I enjoyed watching CNBC or often looked at my portfolio in the good times, it was good to not follow so closely in the bad...and I dont think I would have ever been one to sell scared...but its just not a fun feeling when things are down like it is when they are up so I dont do it as often

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Re: Race from $2M to $3M.....and beyond!
« Reply #485 on: October 17, 2018, 01:08:25 PM »
That post was after about four ounces of tequila. 

;)

Sounds like a prudent fortification!   But 19 loaves is a lot of loaves, and oh so close to 20.   Great attitude!  That new house might be big, but it sounds like you've made a great purchase at a great price point.  Enjoy it! 

I'm back after a non-MMM 6 weeks in Europe.   Or maybe it wasn't so non-MMM, after all, I did stay at little mom and pop places, not big fancy face punch worthy resorts.  The frugal me has learned how to travel on a real budget.  I think a blogger once called it "the high/low lifestyle."

Now I've got to get one more rental in motion.  (that means rented out).   It should cash flow nearly 20K a year, so every day it's not rented is costing us. 

MiserlyMiser

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Re: Race from $2M to $3M.....and beyond!
« Reply #486 on: October 18, 2018, 12:54:33 PM »
I was on my way here to complain that my investments have dropped $200k over the past few weeks and see that others have posted on the same topic.  I'm still working, and I'm trying to see this as practice for keeping my cool when I see large market fluctuations once I've retired.  To make myself feel better, I tallied up my spending during September, and I'm still comfortably within a 3% withdrawal rate, even with my smaller portfolio.  It still doesn't feel good to see such a drop, though :(

Understood, its really crazy when you are reaching FI and compare your SWR to volatile portfolio moves (e.g. if the market drops 8%, and your fairly well diversified portfolio drops 6% in that week, 18 months of spending seemed to just disappear before you could even get around to booting up quicken).  But I agree it is good practice and doesn't feel good....I'm not ashamed to admit that during the crisis I learned that though I enjoyed watching CNBC or often looked at my portfolio in the good times, it was good to not follow so closely in the bad...and I dont think I would have ever been one to sell scared...but its just not a fun feeling when things are down like it is when they are up so I dont do it as often
In 2006-2007, I was aggressively paying down my second mortgage rather than investing, so I didn't have much to lose by the time of the 2008 crash.  I haven't really experienced a bear market yet. 
Also, I am not as diversified as I should be, so when the market drops, I usually drop a little more.

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #487 on: October 18, 2018, 01:42:02 PM »
In 2006-2007, I was aggressively paying down my second mortgage rather than investing, so I didn't have much to lose by the time of the 2008 crash.  I haven't really experienced a bear market yet. 
Also, I am not as diversified as I should be, so when the market drops, I usually drop a little more.

Did you just say you were aggressively paying down a mortgage?  B42, where are you??  Just kidding, sounds like you were as lucky as we were since we had sold our home in 2007 and were on an expat assignment (company provided housing) and able to aggressively invest in the stock market through 2008-9. 
« Last Edit: October 18, 2018, 01:46:32 PM by EscapeVelocity2020 »

MiserlyMiser

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Re: Race from $2M to $3M.....and beyond!
« Reply #488 on: October 18, 2018, 02:46:46 PM »
In 2006-2007, I was aggressively paying down my second mortgage rather than investing, so I didn't have much to lose by the time of the 2008 crash.  I haven't really experienced a bear market yet. 
Also, I am not as diversified as I should be, so when the market drops, I usually drop a little more.

Did you just say you were aggressively paying down a mortgage?  B42, where are you??  Just kidding, sounds like you were as lucky as we were since we had sold our home in 2007 and were on an expat assignment (company provided housing) and able to aggressively invest in the stock market through 2008-9. 
I mean, I bought my house in 2006, so it isn't like I got a deal--12 years later, it's finally estimated to be within $45k of what I paid for it. 
And I paid the second mortgage down aggressively.  Somehow the interest rate was >12%, I still don't understand how that happened.  It was an interest-only HELOC, so the minimum payment was very low, but I threw everything extra I had at it.  Within a year, I got the balance low enough to transfer to a zero-interest credit card, and I paid it back within a few months after that. 

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #489 on: October 18, 2018, 03:20:04 PM »
Thanks for coloring it in, I knew that you were paying down a second mortgage (but thought it was funny anyways).  We all get to 2M on an interesting path.  Hopefully these youngsters see how much more fun it is to get here, even if you are a little wrong, then just being here. 

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #490 on: October 18, 2018, 05:31:30 PM »
In 2006-2007, I was aggressively paying down my second mortgage rather than investing, so I didn't have much to lose by the time of the 2008 crash.  I haven't really experienced a bear market yet. 
Also, I am not as diversified as I should be, so when the market drops, I usually drop a little more.

Did you just say you were aggressively paying down a mortgage?  B42, where are you??  Just kidding, sounds like you were as lucky as we were since we had sold our home in 2007 and were on an expat assignment (company provided housing) and able to aggressively invest in the stock market through 2008-9. 
I mean, I bought my house in 2006, so it isn't like I got a deal--12 years later, it's finally estimated to be within $45k of what I paid for it. 
And I paid the second mortgage down aggressively.  Somehow the interest rate was >12%, I still don't understand how that happened.  It was an interest-only HELOC, so the minimum payment was very low, but I threw everything extra I had at it.  Within a year, I got the balance low enough to transfer to a zero-interest credit card, and I paid it back within a few months after that.
I'd have paid that sucker off in a hurry too, though I'm not sure under what circumstances I'd have taken those terms. Glad it's behind you now.

Fomerly known as something

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Re: Race from $2M to $3M.....and beyond!
« Reply #491 on: October 18, 2018, 06:58:36 PM »
I met with my financial advisor for the "first time" today.  It's quotes for first time since he is a friend whose advising philosophy I've long known prior to my engaging him to be my advisor.  I'd started the process to enter a formal partnership before the recent downturn.  I'm looking less from investing advise and more for pretirement planning which may include a phased retirement.  Worst case scenario, I quit tomorrow and never work for a paycheck again 66% chance of success all other options were 80% plus.

What we did not talk about, the market.  Well I did tell him my re balancing criteria but otherwise didn't go into specifics.  We will talk about making adjustments to my portfolio at our next meeting.  On the first glance I got a lot of you are doing things right.   

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Re: Race from $2M to $3M.....and beyond!
« Reply #492 on: October 18, 2018, 09:35:18 PM »
That post was after about four ounces of tequila. 

;)

Sounds like a prudent fortification!   But 19 loaves is a lot of loaves, and oh so close to 20.   Great attitude!  That new house might be big, but it sounds like you've made a great purchase at a great price point.  Enjoy it! 

I'm back after a non-MMM 6 weeks in Europe.   Or maybe it wasn't so non-MMM, after all, I did stay at little mom and pop places, not big fancy face punch worthy resorts.  The frugal me has learned how to travel on a real budget.  I think a blogger once called it "the high/low lifestyle."

Now I've got to get one more rental in motion.  (that means rented out).   It should cash flow nearly 20K a year, so every day it's not rented is costing us.

Wow.  6 weeks in Europe.   We haven't been yet.  I'm dying to walk the Camino de Santiago and see historical sites along the med.   No face punch to you.   I'm happy for you.

JoJoP

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Re: Race from $2M to $3M.....and beyond!
« Reply #493 on: October 20, 2018, 10:48:39 PM »

Wow.  6 weeks in Europe.   We haven't been yet.  I'm dying to walk the Camino de Santiago and see historical sites along the med.   No face punch to you.   I'm happy for you.

Thanks! 

A lot of people do the Camino de Santiago in sections.  A week or two of walking per trip.   We ran across many of them (often with a little sea shell on their backpack that marks them as pilgrims) when we were in Spain and France.  In spring, I was in that area, I meet an Australian trio who have been walking a section every year for 10 years.  The wife doesn't walk as far as the husband and friend do, but they all do some of it, year after year.  I was surprised that people do the Camino in such a variety of ways that makes it work for them. There's a couple of main routes, not just one.  I'm sure they are all amazing, though. 
 The Camino is an intriguing idea, discussed here and there in the JoJoP household,  but I think I'd like to do it by bicycle, or even by mule. 

As for the 6 weeks (5 and a half, actually) in Greece... it was a bit long. I'm glad to be home.  I don't think I'll go for that long again.  But I'm blessed.  Our retirement features traveling as one of the main components. The rentals require minimal attention, so our cash flow is secure and flowing no matter where we are in the world. This FI thing is amazing... there's nothing to stop us from going if we want to go.  We have money and no jobs (insert happy dance, thumbs up, and Cheshire Cat Grin). Frequent flyer miles/bank points make the plane tickets about 10 cents on the dollar.  We've figured out how to travel frugally and frequently,  and it's working for us.  It's a big part of our life.  Hotels and Booking.com give access to amazing, off the tourist track hotels that are often under $50 USD a night in the (offbeat) places that we like to go.  2018 was a big travel year for us.  I think I've got over 100 days of international travel this year, mostly Europe, but also New Zealand and Africa,with 2 more trips on the books.  I filled my passport pages in 4 years and had to replace it!

Keep us informed, @Fomerly known as something, on your progress with the financial advisor.  Are most of you using a financial advisor?  Do they give worthwhile input?  I'm considering one, a lady I know,  that has both stocks and rentals.  My inquiries have found that advisors mostly lean strongly towards stocks/portfolio management.   Since I have rentals, I wonder what's a good fit for me. 

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #494 on: October 21, 2018, 03:11:10 AM »
We are at 4.5 weeks in Europe and will come home at 6 weeks. its a long time on the road and more arduous than one might imagine.

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Re: Race from $2M to $3M.....and beyond!
« Reply #495 on: October 21, 2018, 08:55:58 AM »
@Exflyboy - I don't enjoy traveling enough to go for that long, but know that about myself in advance. We are considering having one primary residence in retirement (likely California coast area), and then two vacation houses. We'll rent the other two vacation houses, and then use them as we'd like. We have a vacation house currently, and really enjoy the comforts of being "at home", like the aspect of having some work to do on maintenance to keep us busy, etc.

We also enjoy relaxing travel (e.g. no maintenance, no ownership responsibilities), but probably would tap out around 10 days.

JoJoP

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Re: Race from $2M to $3M.....and beyond!
« Reply #496 on: October 21, 2018, 10:22:22 AM »
@Exflyboy - I don't enjoy traveling enough to go for that long, but know that about myself in advance. We are considering having one primary residence in retirement (likely California coast area), and then two vacation houses. We'll rent the other two vacation houses, and then use them as we'd like. We have a vacation house currently, and really enjoy the comforts of being "at home", like the aspect of having some work to do on maintenance to keep us busy, etc.


Where would your vacation houses be?

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #497 on: October 22, 2018, 12:29:18 AM »
You guys are amazing.   I really almost don't believe at times I am your peer.  You are all doing incredible things that most only dream about.  We're getting to the place you are soon.  I just had a money conversation with a really smart coworker.  One that gets it.  I revealed our current stash amount and there was no look of amazement, because the person understands money.  The person had the perfect explanation for how some accumulate wealth and use money as a tool and others money is a burden.   The person said, it's because of decisions we made very early in life. We tried harder and put in the time to create our path forward.  I thirst for this in a sea of nonmustacianism.  Please keep shaing your stories.  I don't have a lot of local friends I can have these conversations with.

MaybeBabyMustache

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Re: Race from $2M to $3M.....and beyond!
« Reply #498 on: October 22, 2018, 01:27:25 PM »
@JoJoP - we currently have one house on the Oregon coast that we will keep. It's a couple of hours from my family, so we already spend quite a bit of time there, and it gets a lot of family use. We are considering Hawaii for the other, but the math hasn't worked out so far. Not sure if it ever will, with the extraordinary costs. We're having coffee with a friend who has had a rental for an extended period of time to sanity check some of our number estimates.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #499 on: October 26, 2018, 08:19:36 AM »
So this thread has gone quiet as most of us have probably been kicked out of the club.. Temporarily..:)