Author Topic: Race from $2M to $4M  (Read 1704 times)

bluerunner

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Race from $2M to $4M
« on: January 16, 2018, 11:34:54 PM »
So, it took 17 years to hit $1M.  Oi vey!  All my best to everyone on this journey currently. 

We're projecting to hit $2M in investable assets sometime in March/April this year, which would be 3 years to double.  We'll see.

We are over 2 right now if I include our primary residence/net worth, so don't feel too bad starting this thread now.  :)

I expect the markets to hit some major turbulence in the next few years, but I'm curious how long it'll take to double and hit 4.

Happy Investing!
« Last Edit: January 16, 2018, 11:41:08 PM by bluerunner »

marty998

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Re: Race from $2M to $4M
« Reply #1 on: January 17, 2018, 02:41:04 AM »
I am going to be a troll for once.

Why are you here? People here tend to FIRE well before $2m. For what possible mustachian reason do you need $4 million?

And how many do you expect to join you in this race?

Sorry, good on you for getting to $2, not an easy achievement, but I have a bee in my bonnet today.

Jenny1974

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Re: Race from $2M to $4M
« Reply #2 on: January 17, 2018, 06:30:19 AM »
I get it . . . we plan to retire with a bit more than the typical mustachian for a variety of reasons.  One of the biggest reasons is I would like to leave a large amount to a local animal rescue group.  Another reason is I have a child with Crohn's disease and want to know that, should she be denied insurance coverage for any reason (pre-existing condition, lifetime maximum, etc.), there will be money to help her cover her costs out of pocket.  The final, and not so noble reason, I would like to be able to travel and take my parents and kids (and their families) with us as much as possible and be able to absorb a lot of the cost.

I'll ride along with you!  We are basically in the same position financially.

Jennifer

desk_jockey

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Re: Race from $2M to $4M
« Reply #3 on: January 17, 2018, 07:14:53 AM »
If you're planning to get out before $4M, there is already a $2M-$3M race thread.
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/

ROF Expat

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Re: Race from $2M to $4M
« Reply #4 on: January 18, 2018, 07:29:13 AM »
For me, at least, there's no "race" from 2-4 million in the way that there was earlier in the FIRE process.  Thirty years ago, saving to invest made a difference in my financial trajectory.  Today, all I really have to do is watch compound interest do its thing. 

At this point, the earnings on my investments are far more significant to overall growth than contributions.  The time it takes to double will be almost entirely dependent on market growth.  If the S&P 500 averages 10 percent growth, it'll take about 7 years.  If it grows at 7 percent, it'll take ten years. 

It takes some of the fun out of things, but it is a good position to be in. 

soccerluvof4

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Re: Race from $2M to $4M
« Reply #5 on: January 22, 2018, 03:31:14 AM »
For me, at least, there's no "race" from 2-4 million in the way that there was earlier in the FIRE process.  Thirty years ago, saving to invest made a difference in my financial trajectory.  Today, all I really have to do is watch compound interest do its thing. 

At this point, the earnings on my investments are far more significant to overall growth than contributions.  The time it takes to double will be almost entirely dependent on market growth.  If the S&P 500 averages 10 percent growth, it'll take about 7 years.  If it grows at 7 percent, it'll take ten years. 

It takes some of the fun out of things, but it is a good position to be in.


+1

Dicey

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Re: Race from $2M to $4M
« Reply #6 on: January 26, 2018, 08:08:51 PM »
Ha again! I just posted this over on that other thread before I saw this one.

Ha! I just checked balances on our two main accounts. Gulp. $1.2M! Paid-for primary home is worth $1.4M, sez Zillow, which I know from recent comps to be low. I think I'll stop looking now. If I check any more balances, I'm going to find myself pushed right out of this nice club.

I agree that we're pretty much on cruise control now. DH still works for good reasons. His mom has ALZ and lives with us. It's not like we can be mobile now, so he might as well work. He loves his job. The hours are awesome, stress nonexistent and he walks to work. I did not love my high-stress job, so I got out.

Bateaux

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Re: Race from $2M to $4M
« Reply #7 on: January 27, 2018, 12:02:48 PM »
So, it took 17 years to hit $1M.  Oi vey!  All my best to everyone on this journey currently. 

We're projecting to hit $2M in investable assets sometime in March/April this year, which would be 3 years to double.  We'll see.

We are over 2 right now if I include our primary residence/net worth, so don't feel too bad starting this thread now.  :)

I expect the markets to hit some major turbulence in the next few years, but I'm curious how long it'll take to double and hit 4.

Happy Investing!
Seems like yesterday you started the 1 to 2 race.  We're within a month or three of 2 as well.  The way you're moving you should have made this the 2 to 10 race.

Jenny1974

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Re: Race from $2M to $4M
« Reply #8 on: June 08, 2018, 07:11:35 AM »
We have officially crossed the $2 million threshold.  We've been bouncing around it for the last several months but now we are firmly there.  At $3 million, I think I will feel comfortable walking away from the grind knowing that all our retirement aspirations can be comfortably funded.  It took about 3 - 4 years to get from $1 mill to $2 mill so I'm hoping the next million can be achieved in 2 - 3 years (assuming the market doesn't totally tank).

Bateaux

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Re: Race from $2M to $4M
« Reply #9 on: June 08, 2018, 08:58:01 AM »
We have officially crossed the $2 million threshold.  We've been bouncing around it for the last several months but now we are firmly there.  At $3 million, I think I will feel comfortable walking away from the grind knowing that all our retirement aspirations can be comfortably funded.  It took about 3 - 4 years to get from $1 mill to $2 mill so I'm hoping the next million can be achieved in 2 - 3 years (assuming the market doesn't totally tank).
Great job!  Congratulations on your win!

We've crossed the 2MM line as well the past few days.  Buying the FIRE house, finishing up the last year of education for our youngest, oldest has graduated getting them launched on careers.  Next is figuring out healthcare and remodeling the FIRE house and selling current home.  That's the goal.  2019-2020 hope to start bliss.