Author Topic: Race from 500k to 1M!  (Read 9211 times)

step-in-time

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Race from 500k to 1M!
« on: June 14, 2016, 05:44:16 AM »
Didn't find this one yet, and I keep hearing how the next half-mil goes so much faster! We'll see. Anyone else?

April 2016: 500k

Saving ~75% of income.

onlykelsey

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Re: Race from 500k to 1M!
« Reply #1 on: June 30, 2016, 09:04:03 AM »
Bookmarking, hope to see you in a year or 15 months or so!

step-in-time

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Re: Race from 500k to 1M!
« Reply #2 on: June 30, 2016, 11:01:16 AM »
Cool! There was a flurry of $500k celebrations not too long ago, so maybe others will be inspired to join too :) All in good fun, we're just racing ourselves (not each other), maybe sharing some tips, and staying accountable.

boarder42

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Re: Race from 500k to 1M!
« Reply #3 on: June 30, 2016, 12:19:31 PM »
i'm thre with complete networth but i dont jump races til my invested networth hits the bottom ... i'll see you around this time next year hopefully.
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Roboturner

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Re: Race from 500k to 1M!
« Reply #4 on: June 30, 2016, 02:57:01 PM »
you're on man!
currently at 528
"I win again, just like always!"




FireLane

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Re: Race from 500k to 1M!
« Reply #5 on: June 30, 2016, 07:20:53 PM »
I'd like to get in on this. Though it might be unfair since I have a head start. :)

Currently I'm at about 700K in liquid assets, plus or minus a few thousand depending on the markets. My master spreadsheet says I should join the double comma club sometime in 2018. Hope to see you all there!

step-in-time

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Re: Race from 500k to 1M!
« Reply #6 on: July 01, 2016, 03:18:58 PM »
Hey this is great! FireLane curious when you hit $500k? Seeing progress over time gives me us all hope that I'll we'll get there eventually too!

EDIT: I'm the weirdo who likes hope.
« Last Edit: July 02, 2016, 02:06:34 PM by step-in-time »

boarder42

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Re: Race from 500k to 1M!
« Reply #7 on: July 01, 2016, 08:05:14 PM »
I don't know that it's a hope. It's pretty much Mathematically going to happen with how we save around here
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

FireLane

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Re: Race from 500k to 1M!
« Reply #8 on: July 03, 2016, 12:36:11 PM »
Hey this is great! FireLane curious when you hit $500k? Seeing progress over time gives me us all hope that I'll we'll get there eventually too!

EDIT: I'm the weirdo who likes hope.

I've become more obsessive about tracking my NW since discovering Mr. Money Mustache, but it would've been around the beginning of 2015.

I've had some nice gains, but mostly it was pure dumb luck. My 401(k) contributions come out of my annual bonus, so they arrive in a lump sum. This year, that happened to be during the market dip in Q1. When the markets bounced back, I got a big bump in my numbers. I'm not expecting to be that lucky again, but slow and steady. :)

step-in-time

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Re: Race from 500k to 1M!
« Reply #9 on: July 05, 2016, 05:33:31 AM »
^ Nice! That's a huge gain in a relatively short time, and 2018 is fast approaching. Steady contributions and the occasional timing luck to keep things interesting :) Look forward to seeing how real time plays out against the master spreadsheet predictions.

Travelling Biologist

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Re: Race from 500k to 1M!
« Reply #10 on: July 12, 2016, 10:59:29 AM »
I'm joining too!

June 2016 - Invested: 583,082  Liquid: 665,736  NW: 984,238

Am hoping to get to 1M NW by the end of October, but still want to get liquid and invested values above 1 M too, probably 4 years down the road. 


step-in-time

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Re: Race from 500k to 1M!
« Reply #11 on: July 29, 2016, 02:57:06 PM »
Guess I'll update every 4 months:

April 2016: $500k
July 2016: $544k

Saved $23.8k. Strong market returns provided the rest!

boarder42

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Re: Race from 500k to 1M!
« Reply #12 on: July 29, 2016, 05:16:18 PM »
I'm joining too!

June 2016 - Invested: 583,082  Liquid: 665,736  NW: 984,238

Am hoping to get to 1M NW by the end of October, but still want to get liquid and invested values above 1 M too, probably 4 years down the road.

What's the difference between liquid and invested.
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

FireLane

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Re: Race from 500k to 1M!
« Reply #13 on: July 29, 2016, 09:49:31 PM »
I'm just over $754K liquid as of the end of July. Strong market gains equaled a big bump in my portfolio. It's a nice feeling! It feels like being a financial wizard to make money for doing nothing in particular.

Travelling Biologist

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Re: Race from 500k to 1M!
« Reply #14 on: July 30, 2016, 07:25:20 AM »
I'm joining too!

June 2016 - Invested: 583,082  Liquid: 665,736  NW: 984,238

Am hoping to get to 1M NW by the end of October, but still want to get liquid and invested values above 1 M too, probably 4 years down the road.

What's the difference between liquid and invested.

I'm counting liquid as everything aside from property, so invested assets, college savings, and cash.

marty998

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Re: Race from 500k to 1M!
« Reply #15 on: July 30, 2016, 05:54:15 PM »
Ok I'm in... on $800k now.... See if we can get there by Dec 2017, if not then June 2018

onlykelsey

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Re: Race from 500k to 1M!
« Reply #16 on: July 30, 2016, 08:44:01 PM »
Bookmarking, hope to see you in a year or 15 months or so!

Or possibly late this year, at this rate.  Come on, market!

sisto

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Re: Race from 500k to 1M!
« Reply #17 on: August 03, 2016, 04:02:31 PM »
I'd like in on this one too. My next milestone I'm shooting for is $1M in assets. The only debt I carry is my house. Not that long ago I hit $500K in invested assets. So this is a great one to get in on. Since I have a head start on NW I'll just use invested assets for this. Good luck everyone!

Roboturner

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Re: Race from 500k to 1M!
« Reply #18 on: October 12, 2016, 02:28:00 PM »
you're on man!
currently at 528

big jump!

October 2016:

Liquid NW: 652k
Total NW: 845k

hoping to be there before my 30th, 2 years to go :)
"I win again, just like always!"




Travelling Biologist

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Re: Race from 500k to 1M!
« Reply #19 on: October 13, 2016, 05:27:59 PM »
Whoa Roboturner, how did you get that huge jump?!

Travelling Biologist

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Re: Race from 500k to 1M!
« Reply #20 on: October 13, 2016, 05:31:15 PM »
Jun 2016 - Invested: 583,082  Liquid: 665,736  NW: 984,238
Sep 2016 - Invested: 623,186 Liquid: 700,344  NW: 1,028,057 

Broke 1M NW in August, now on to 1M invested!

Roboturner

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Re: Race from 500k to 1M!
« Reply #21 on: October 14, 2016, 11:37:31 AM »
Whoa Roboturner, how did you get that huge jump?!

healthy bonus from our company selling to a different company, also came with a 51% pay raise - my bday is monday, and this all was finalized tuesday, so a wonderful birthday gift haha :)

hoping for a nice change in slope from here on out too

Also congrats on passing the 1MM total NW number! we should be there soon
"I win again, just like always!"




clarkfan1979

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Re: Race from 500k to 1M!
« Reply #22 on: October 16, 2016, 12:57:20 AM »
I hope to join this race sometime in 2017. We are currently at 422K. We should be around 500K in 10-12 months.

dreams_and_discoveries

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Re: Race from 500k to 1M!
« Reply #23 on: October 16, 2016, 01:47:26 AM »
Hi all, love to join in - some great achievements and gains already in the thread.

I crossed £250k in July 2014, then reached £500k net worth in August 2016. (25 months).

Realistically aiming for £750k in December 2017 (15 months), and the million in April 2019 (15 months) - although there are tons of assumptions on these, continually in contract and working and London house prices not depreciating.... let's see how it goes.


misterhorsey

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Re: Race from 500k to 1M!
« Reply #24 on: October 17, 2016, 12:47:59 AM »
I find myself in this dilemma. You're watching your NW hoping it gets higher and higher so that you hit your target ($1m), meanwhile, you're hoping for share prices to go down so you can get them cheaper which will, in the long run, result in a overall higher net worth.

Cognitive dissonance?

Makes me think as fun and important and motivating as it is to track your NW and aim for these goals - it's kind of silly too!

step-in-time

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Re: Race from 500k to 1M!
« Reply #25 on: October 21, 2016, 07:14:51 AM »
Wow, awesome progress Roboturner, FireLane, and Travelling Biologist, way to go!

Great to see so many others joining too!

I hate to admit it, but I've been mostly hoarding cash since August expecting a big stock drop whenever the Fed finally acts (sigh, I know I shouldn't try to time the market). 401k max autoinvest still occurring though. Slow and steady progress otherwise.

moof

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Re: Race from 500k to 1M!
« Reply #26 on: October 22, 2016, 06:10:13 PM »
Sitting at 535k invested, about 100k in house equity.  2016 is when I got my act together, and will have saved about $40k through the end of the year.  Next year's goal is $50k, which will be easier thanks to not having to replace our roof like this year.  Aiming for 1.4M total invested to pull the trigger about the beginning of 2025 at 47.  Still allaying the wife's nerves...

step-in-time

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Re: Race from 500k to 1M!
« Reply #27 on: December 01, 2016, 06:22:21 AM »
There have been some ridiculous market gains lately:

April 2016: $500k -----> saved $23.8k between 4/1-7/31
Aug 2016:  $544k -----> saved $19.8k between 8/1-11/30
Dec 2016:  $589k

I'm still hoarding some cash, but that's in line with my 90/10 asset allocation (I include cash and bonds in the 10% bucket).

Keep on going!
« Last Edit: December 01, 2016, 06:24:38 AM by step-in-time »

Roboturner

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Re: Race from 500k to 1M!
« Reply #28 on: December 01, 2016, 08:30:52 AM »
nice gains!
"I win again, just like always!"




dreams_and_discoveries

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Re: Race from 500k to 1M!
« Reply #29 on: December 01, 2016, 02:09:46 PM »
There have been some ridiculous market gains lately:

April 2016: $500k -----> saved $23.8k between 4/1-7/31
Aug 2016:  $544k -----> saved $19.8k between 8/1-11/30
Dec 2016:  $589k

I'm still hoarding some cash, but that's in line with my 90/10 asset allocation (I include cash and bonds in the 10% bucket).

Keep on going!

Well done, onward to the million !

oldmannickels

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Re: Race from 500k to 1M!
« Reply #30 on: December 02, 2016, 08:53:14 AM »
Broke $500k this month, so joining this thread. Hoping to hit $1M by 2020.

Mathew675

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Re: Race from 500k to 1M!
« Reply #31 on: December 02, 2016, 08:00:01 PM »
I'm in! Currently at $574 investible assets.

golfreak12

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Re: Race from 500k to 1M!
« Reply #32 on: December 06, 2016, 11:57:27 AM »
I'm going to join this thread but its going to take us a while to get to $1 million. Hopefully end of 2020.
Wife is still going to school. On track to graduate in 2 yrs so the main income is from me. I mdee around $10K0-$120K for the past 3 yrs and I don't know if I can keep up the rate for the next 4 yrs. ~$80K is more in range of what I can make.
Once my wife graduate from college hopefully our NW will skyrocket.....

$240K- Our main house already paid off. Zillow say >>$300K but thats not realistic.
$90K- Rental house. Owes $55K. Worth ~$150K. Zillow say $175K but thats not realistic either.
$73K- Vanguard IRA. I moved it to a money market account after Trump won. Stupid !!
$15K- 401K. Previous job. Same thing with IRA account. STUPID !!!
$50K- CASH.
$23K- 2 CDs maturing soon.
$11k- HSA account.
$10K- Gold.
$45K- We have 4 cars all paid off. Once is a almost new Lexus. Depreciating assets.
$35K- Wifes own account. Might be more now.
$50K- Safety deposit box. This is my own emergency money NOONE knows about except for you guys.
$15K- tax refund for 2016. Yeah I already figured out we'll get at least this much for 2016.

$657K as of right now. We have no debt except for the rental house but its not cost effective to pay it off.

- We can put away around $50K/yr even with my wife not working. That would put us at only $847K by the end of 2020.
- Our problem is all our assets are tied to the houses and not earning much for us. The rental is bringing us around $4K for the year. Our investments are LOW compares to others.
- So for us to hit $1 Mil by the end of 2020, my wife and/or our investments have to bring us the extra $150K.

I'm like everyone else, I had all my IRA and 401K in the Index funds before. I'm going to put everything back. If anyone have better ideas on how to get better returns on on NW, I'm all ears.



step-in-time

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Re: Race from 500k to 1M!
« Reply #33 on: December 07, 2016, 06:36:12 AM »
I'm like everyone else, I had all my IRA and 401K in the Index funds before. I'm going to put everything back. If anyone have better ideas on how to get better returns on on NW, I'm all ears.

Welcome golfreak12! You seem to have $100k in cash/"safe deposit box" and $23k in (I'm guessing low-yield) CDs which seems excessively conservative. How much safety cash do you really need? Invest the rest.

You have a $150k rental house ($90k equity) yielding $4k/yr (is this net?), which if invested assuming a modest 5% return, would yield $4.5k, plus the magic of compounding over time.

You can also develop an IPS to define your investing goals and asset allocation, which will help you get better returns on your NW because 1) you now have a plan, 2) you know you must stick to it, and 3) won't make crazy moves again like selling everything after a Trump win.
« Last Edit: December 07, 2016, 06:40:54 AM by step-in-time »

golfreak12

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Re: Race from 500k to 1M!
« Reply #34 on: December 08, 2016, 09:13:14 AM »
- The safety deposit isn't going anywhere. I've had that before I got married. That's like my own protection. If I need to leave the country or my wife decides to leave me(LOL to both), I know I have money of my own sitting there for me. I've been putting in $5K in that deposit box every year. I know its a waste of money but its a small portion of the NW and I like it sitting where it is.
- The CDS are maturing in 2019 and they are 3% from Penfed. If I knew we can get a guaranty 3%, I'd put more money in it. Bought this 3 yrs ago when I just bought the main house and didn't have much cash left.
- The rental house is/was our cash cow. We net around $1100/month for the house. After property tax and insurance, we net around $850. Interests on the house is only $150, so $700 actually goes to our equity and pockets. The problems this past year was the septic tank. 3 seperate calls to pump it out cost us dearly and I just spent $2000 to have it fix.
- The other $50k cash on hand, I was going to dump into Index funds but being a dumb ass, I didn't when Trump won the election. My wife on the other hand wants to leave it cause she wants to buy another house. LOL.

I mean we're doing more than fine and we'll get to $1 mil NP but unlike others in this forum, our assets aren't earning much for us.

stashyMel

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Re: Race from 500k to 1M!
« Reply #35 on: December 11, 2016, 08:47:49 PM »
Ok, we just crossed the 500K mark last month. All projections show that we will cross $1MM in Dec of 2020. We are currently at $428K in retirements accounts including 3 401ks, and 2 HSAs. I need to open 2 Roths before year end. The remaining money is in assorted Checking accounts and a decent chunk in a Money Markets. I also need to add more to a brokerage account.

I don't count the house in our totals. It is valued somewhere between $180 and $210K. But it is paid off and we aren't in the market to sell. Thusly, I don't count it. Also, not included are the pension values.
Lurking for years. Home debt free and halfway to FIRE.

Libertea

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Re: Race from 500k to 1M!
« Reply #36 on: December 12, 2016, 06:09:44 AM »
Posting so I remember to update in a few weeks when the quarter ends.  Anticipate breaking $500k this quarter.

moof

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Re: Race from 500k to 1M!
« Reply #37 on: December 13, 2016, 02:34:19 PM »
Hit 500k invested at the start of 2016, should be ending the year at about 580-590k.  Goal is to save $50k a year, to hopefully hit $1M by the end of 2020.  Final target is $1.6M in investments.

Acorns

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Re: Race from 500k to 1M!
« Reply #38 on: December 17, 2016, 03:39:21 PM »
Been a lurker here for about a year, finally decided to jump in. I always think it is interesting to see the trajectory of other peoples’ savings, so here are my numbers going back to 2007 when I first started keeping track of our household’s monthly net worth. Currently my household is two adults and three kids, our household income has ranged from about $50,000/yr when we were starting out to about $150,000 now. I expect our income to keep pace with inflation, but no big raises are projected in the near future. These numbers are investment accounts only, not including the equity in our primary residence. We don’t hold a lot in cash. Our big financial goals are to be able to make a significant contribution to our children’s college costs, and to be able to retire by our mid 50s. Not super early by the standards of some people on here, but we do enjoy a pretty comfortable lifestyle and my retirement goals are a little more luxurious than car camping in a developing country; we’ve done enough “roughing it” as part of our jobs :-).

End of 2007: $71,000
End of 2008: $87,600
End of 2009: $202,000
End of 2010: $257,000
2011: $298,000
2012: $364,000
2013: $371,000
2014: $615,000 (This looks like a big jump from 2013 because I started counting in my calculations an investment account which hadn't been counted in prior years)
2015: $644,000
2016: TBD in two more weeks.

step-in-time

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Re: Race from 500k to 1M!
« Reply #39 on: December 18, 2016, 08:14:15 AM »
Been a lurker here for about a year, finally decided to jump in. I always think it is interesting to see the trajectory of other peoples’ savings, so here are my numbers going back to 2007 when I first started keeping track of our household’s monthly net worth.

Welcome Acorns! I love seeing progress over time too and find it really inspiring. That's awesome what you've done...thank you for sharing your savings progress, and continued success towards your goals in 2017!

jmuth

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Re: Race from 500k to 1M!
« Reply #40 on: December 18, 2016, 02:32:24 PM »
DEC 2016 NW: 559k
401k: 189k (TSP)
Roth IRA: 111k (Vanguard)
529 (Kid A - 10 yrs) 63.5k (Vanguard)
529 (Kid B - 4 yrs) 33k (Vanguard)
Bonds (for house purchase) 66k (USAA)
Taxable Stocks: 42.5k (vanguard)
Cash (1-1.5% interest accounts): 53k (Ally Bank)

DEC 2015 NW: 444k
DEC 2014 NW: 385k
DEC 2013 NW: 337k
DEC 2012 NW: 253k
DEC 2011 NW: 209K
DEC 2010 NW: 184k

Hit 500k this summer and the next 59k seem to have been a flash
« Last Edit: December 19, 2016, 02:05:13 AM by jmuth »

step-in-time

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Re: Race from 500k to 1M!
« Reply #41 on: December 19, 2016, 07:39:11 AM »
Nice progress jmuth, welcome to the forum! Recent market gains have been insane. Good luck with your upcoming house purchase. I bought a house last year after carefully running the numbers and evaluating long-term impact on FIRE plans (my housing costs will be lower than renting and happiness higher knowing I have control over my housing and won't have to move if a landlord decides to sell).

golfreak12

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Re: Race from 500k to 1M!
« Reply #42 on: December 23, 2016, 07:35:52 AM »
I'm a bit jealous of you guys.....your stash are growing exponentially. Mine are crawling.
When I bought the main house 3 years ago, I had to cash to buy it but the interests were so low and the lender were going to pay for clsoing costs so I financed the house.
In this past 3 yrs, I must have paid ~$200K in principles to both houses, paying the main house off.
Had I put that $200K, in the index funds, my stash would be so much higher now.

boarder42

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Re: Race from 500k to 1M!
« Reply #43 on: December 27, 2016, 11:04:07 AM »
I'm a bit jealous of you guys.....your stash are growing exponentially. Mine are crawling.
When I bought the main house 3 years ago, I had to cash to buy it but the interests were so low and the lender were going to pay for clsoing costs so I financed the house.
In this past 3 yrs, I must have paid ~$200K in principles to both houses, paying the main house off.
Had I put that $200K, in the index funds, my stash would be so much higher now.

yes this is why you dont pay down mortgages at these ridiculously low rates faster ... you invest it.
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

CloserToFree

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Re: Race from 500k to 1M!
« Reply #44 on: December 27, 2016, 11:27:57 AM »
We're in this general range with invested assets - posting to follow, will share numbers when I get a chance to pull them together!

NinetyFour

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Re: Race from 500k to 1M!
« Reply #45 on: December 27, 2016, 12:08:36 PM »
My NW is at $662K.  Not sure I will ever hit $1M, but it's nice to think about!  I'm aiming for $800K when I retire in June 2018.
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Countdown to Freedom:  355 days

OurTown

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Re: Race from 500k to 1M!
« Reply #46 on: December 29, 2016, 12:25:30 PM »
I'm a bit jealous of you guys.....your stash are growing exponentially. Mine are crawling.
When I bought the main house 3 years ago, I had to cash to buy it but the interests were so low and the lender were going to pay for clsoing costs so I financed the house.
In this past 3 yrs, I must have paid ~$200K in principles to both houses, paying the main house off.
Had I put that $200K, in the index funds, my stash would be so much higher now.

yes this is why you dont pay down mortgages at these ridiculously low rates faster ... you invest it.

"Ta-daaaaah!"

boarder42

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Re: Race from 500k to 1M!
« Reply #47 on: December 29, 2016, 12:54:28 PM »
I'm a bit jealous of you guys.....your stash are growing exponentially. Mine are crawling.
When I bought the main house 3 years ago, I had to cash to buy it but the interests were so low and the lender were going to pay for clsoing costs so I financed the house.
In this past 3 yrs, I must have paid ~$200K in principles to both houses, paying the main house off.
Had I put that $200K, in the index funds, my stash would be so much higher now.

yes this is why you dont pay down mortgages at these ridiculously low rates faster ... you invest it.

"Ta-daaaaah!"

he should go tell his story in the pay down your mortgage thread.
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

Libertea

  • Bristles
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  • Posts: 359
  • Age: 41
  • Location: USA
Graduated to this thread....
« Reply #48 on: December 31, 2016, 07:27:30 AM »
09/30/2016: $468,895.06
12/31/2016: $525,049.59

step-in-time

  • Pencil Stache
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  • Posts: 738
Re: Race from 500k to 1M!
« Reply #49 on: December 31, 2016, 07:53:52 AM »
There have been some ridiculous market gains lately:

April 2016: $500k -----> saved $23.8k between 4/1-7/31
Aug 2016:  $544k -----> saved $19.8k between 8/1-11/30
Dec 2016:  $589k

I'm still hoarding some cash, but that's in line with my 90/10 asset allocation (I include cash and bonds in the 10% bucket).

Keep on going!

Closed the year at $601k...a $125k increase this year on a $90k salary, wow.

Happy New Year all!