Author Topic: Race from 500k to 1M!  (Read 22212 times)

fiStressRelief

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Re: Race from 500k to 1M!
« Reply #200 on: September 01, 2017, 01:24:16 PM »
Alright I'm in for the accountability.

Family of 4, avg cost of living area. Hope to retire or scale back in 3.5 years (or sooner).

I like the format where home equity is separate.

Liquid / Total
1/1/17 - 472k / 833k
2/1/17 - 474k / 843k
3/1/17 - 494k / 864k
4/1/17 - 508k / 875k
5/1/17 - 523k / 893k
6/1/17 - 547k / 915k
7/1/17 - 553k / 923k
8/1/17 - 571k / 933k

9/1/17 - 587k / 952k
Good month, holding steady but have some medical bills coming due that might hold down next month a little.

Finallyunderstand

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Re: Race from 500k to 1M!
« Reply #201 on: September 01, 2017, 01:43:18 PM »
Estimates of NW over the years with more concrete values currently
2011: $40k  Real estate sucked (I'm a realtor and own rentals), income was low and equity was non existent.  Tough times!
2012: $55k
2013: $75k
2014: $160k  Being a realtor and also having a large portion of NW in real estate helped income and value go up drastically. (income $155k) plus asset appreciation
2015: $295k  (income $210k) plus asset appreciation
2016: $505k (income $242k) plus asset appreciation
Started using Mint for tracking in 2017
2017: March $515
         April $500 spent money... :(
         May $521
         June $573
         July $588
         Aug $605k
         Sep $647k

Done by Forty

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Re: Race from 500k to 1M!
« Reply #202 on: September 01, 2017, 04:13:23 PM »
Check in time!

8/1/17: $834k liquid ($916k NW)
9/1/17: $841k liquid ($921k NW)

mynewchoice

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Re: Race from 500k to 1M!
« Reply #203 on: September 01, 2017, 10:09:35 PM »
Latest update:

07/01/17   620k
08/01/17   633k
09/01/17   640k

Planning to start regular contributions to my taxable account as well; trimming some fat from the budget and anything that we save there will be directed into our Vanguard account.

marty998

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Re: Race from 500k to 1M!
« Reply #204 on: September 01, 2017, 10:42:02 PM »
Yay!

Quest complete! I think I've made it to 1,007,000. If I put up the value of my properties to fair market value I'm probably somewhere around $1,150,000 but I really don't believe the local hype on real estate.


Honestly though I don't feel much different which is a shame. Still too much in home and post retirement accounts. Not enough investments that I could actually use between now and 65.

Having said that I can upsize the goal to something larger now. That can only be a good thing.

does australia not have ways to access this money early like we have in the states.  you'd have to think there is some loop hole.

Early access to super is tightly managed (for good reason). You can be granted early access if you can demonstrate hardship (illness, bank repossessing your house), but there are still penalties.

Also, I'm 99 per cent sure Marty doesn't want early access to super. If he was concerned about having too much money locked up in it, he wouldn't be salary sacrificing.

This is true - you can't access it early except for those factors listed, and even then it comes with severe and significant tax penalties.

No loopholes. In exchange for the lockup you get massive tax concessions. That's how it works.

My actual usable net investments are about $300k right now, but it's mostly tied up in Property which is high growth/low yield here. Will soon have to switch the balance in favour of high yielding shares if I want to make ER a reality.

NinetyFour

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Re: Race from 500k to 1M!
« Reply #205 on: September 02, 2017, 04:49:59 AM »
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.

Now up to $709,418.  :)

I'm now at $745,282.  Onward and upward.

12/27/17:  $662,000
4/28/17:   $709,418
7/31/17:   $745,282
9/2/17:    $758,290
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Countdown to Freedom:  213 days; 25 weeks of classes; 75 days of classes

dreams_and_discoveries

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Re: Race from 500k to 1M!
« Reply #206 on: September 02, 2017, 07:58:00 AM »
Monthly update:

                 Invested/Total NW
5/1/17 --    $631k     $943k
6/1/17 --    $647k     $969k
7/1/17 --    $655k     $978k
8/1/17 --    $665k     $992k
9/1/17 --    $672k     $999k

Boy howdy.  :)


So near...just another $1k...

SCUBAstache

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Re: Race from 500k to 1M!
« Reply #207 on: September 03, 2017, 06:06:03 PM »
Ended August at 752k... a mere +1k, lowest gain I've had for a while. But hey, a gain is a gain! I think it was a little off because of the timing of some work reimbursements, and I already seem to be up +8k in September so far, so hopefully it'll all balance out.

July 2017: 751k
June 2017: 737k
May 2017: 732k
April 2017: 720k
March 2017: 711k
Feb 2017: 703k
Jan 2017: 680k
Dec 2016: 650k
Dec 2015: 487k
Dec 2014: 412k
Dec 2013: 350k

FireLane

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Re: Race from 500k to 1M!
« Reply #208 on: September 03, 2017, 07:43:17 PM »
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!

It's been a while since I checked in, but I'm happy to say I'm ahead of schedule! About $949K at the end of last month.

It's definitely the bull market I have to credit for this, as monthly investing gains are starting to outpace my contributions. If it keeps going at this pace, I'll hit my $1M goal before the end of the year, not 2018 as I originally guessed.

Well, I've officially graduated this thread. I did my month-end account statements, and the total of all my investments sits at $1,000,297.32.

I know this is just a number, and if the market dips even a little, I'll be back below seven figures. But even if it's symbolic, it feels good. If I can do this, you can too. Keep on 'stashing, friends!

mynewchoice

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Re: Race from 500k to 1M!
« Reply #209 on: September 03, 2017, 09:53:30 PM »
Well, I've officially graduated this thread. I did my month-end account statements, and the total of all my investments sits at $1,000,297.32.

I know this is just a number, and if the market dips even a little, I'll be back below seven figures. But even if it's symbolic, it feels good. If I can do this, you can too. Keep on 'stashing, friends!

That's awesome, congrats on reaching that next milestone!

NinetyFour

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Re: Race from 500k to 1M!
« Reply #210 on: September 04, 2017, 03:29:41 AM »
Congratulations, FireLane!!
My Journal

Countdown to Freedom:  213 days; 25 weeks of classes; 75 days of classes

SCUBAstache

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Re: Race from 500k to 1M!
« Reply #211 on: September 04, 2017, 07:25:27 AM »
Great job FireLane! Must be an awesome feeling :) Are you planning to mark the occasion somehow?

FireLane

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Re: Race from 500k to 1M!
« Reply #212 on: September 04, 2017, 06:42:22 PM »
Great job FireLane! Must be an awesome feeling :) Are you planning to mark the occasion somehow?

Thanks! Nothing huge, but the wife and I did open a nice bottle of wine we'd been saving for a while. :)

skcook

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Re: Race from 500k to 1M!
« Reply #213 on: September 04, 2017, 07:54:26 PM »
Hey hey party people, glad to be joining the group for real this month! Today's NW is $538k.

We've been helped along in our journey by the real estate market in our neighborhood going bonkers but we've made pretty decent progress on our own merits too: by my count we're up $200k from September 2016, only half of which is quasi-pretend house money. I expect it to be a somewhat longer slog to a million (current goal is 2022), but I've been surprised thus far by the rate of our progress so who knows?

Kudos to everyone for their inspiring progress!

ShadowRegent

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Re: Race from 500k to 1M!
« Reply #214 on: September 05, 2017, 05:40:13 PM »
I'll join this thread as well!

Here's my last 6 months:

8/2017 - $810k
7/2017 - $742k
6/2017 - $737k
5/2017 - $715k
4/2017 - $701k
3/2017 - $682k

YellowCat

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Re: Race from 500k to 1M!
« Reply #215 on: September 06, 2017, 11:42:19 AM »
Jan 2017: $444,411
Feb 2017: $466,365 (+$21,954)
Mar 2017: $473,859 (+$7,494)
Apr 2017: $496,610 (+$22,751)
May 2017: $509,180 (+$12,570)
Jun 2017: $522,280 (+$13,100)
Jul 2017: $539,829 ($17,549)
Aug 2017: $547,156 (+$7,327)

We're already over $100k increase in NW so far this year...I don't expect that trend to last indefinitely but boy it's fun to watch! It's also hard to believe that an increase of "just" $7k in a given month feels very small at this point.
Aiming for $1.25M by 2020...

talltexan

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Re: Race from 500k to 1M!
« Reply #216 on: September 06, 2017, 02:05:49 PM »
i was listening to Paul Merriman's investing podcast, and he talked about looking at your statement, and imagining it was 50% of that number...I cannot say I recommend doing this.

OurTown

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Re: Race from 500k to 1M!
« Reply #217 on: September 07, 2017, 03:12:50 AM »
If there is a crash maybe we should all stay logged off from our accounts until it recovers.

Chairman

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Re: Race from 500k to 1M!
« Reply #218 on: September 07, 2017, 07:34:00 AM »
i was listening to Paul Merriman's investing podcast, and he talked about looking at your statement, and imagining it was 50% of that number...I cannot say I recommend doing this.
That's exactly why you should look at it.

TempusFugit

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Re: Race from 500k to 1M!
« Reply #219 on: September 07, 2017, 05:51:35 PM »
New to the thread here.  Just joined the forums a couple weeks ago and look forward to the encouragement. 

I see that some take the view of excluding home equity for the context of one's 'stache. I think that's a good way to look at things, since the vaunted 4% SFR would exclude that in most people's view.   Obviously a true statement of NW would include that equity number. 

I've been watching the slow approach of the 1M stache number for a few years now.   I include one of my pensions, as it is a 'cash value' pension for which I can see quarterly statements and would be immediately rolled into an IRA whenever I cut the cord and 'RE' (currently scheduled for 2022). 

Here's how I've progressed

year    'stache    NW (with home equity)
2014 -  598K   /  671K
2015 -  668K   /  765K
2016 -  714K   /  825K
2017 -  792K   /  931K

so close.  And yet so far.  I realize it's basically a meaningless number, but there's something motivating about having 'A MILLION DOLLARS'.   They say the first one is the hardest, so I figure numbers 2 and 3 should arrive in mere months after I ring the bell on the first mil   : )


Trifele

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Re: Race from 500k to 1M!
« Reply #220 on: September 08, 2017, 04:32:01 AM »
Welcome aboard Tempus Fugit! 

One fun thing about this thread is that you get to celebrate multiple $1M crossings, depending on what you are including in your total NW.  Earlier this year I was including our kids' college savings account and our emergency fund, and was truly shocked when that total NW crossed over 1M.  Then I trimmed those out of my tracking and am now counting only liquid investments and the house.  Very soon (like -- this week, haha) that NW will cross over.  After that I'll stick around this thread and watch just the liquid investments grow.  Big celebration on tap when the liquid investments alone cross over $1M, if we ever get there.  (We are FIREing in 2019).

Good luck on your journey! 

Zamboni

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Re: Race from 500k to 1M!
« Reply #221 on: September 10, 2017, 01:18:34 PM »
This is just for me (not counting other half's wealth)

Numbers for end of month:
Month Year: Investments
June 2017: 504K
July 2017: 523K
Decided to add in home equity and give net worth as second number:
Aug 2017: 533K / 666K

savedough

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Re: Race from 500k to 1M!
« Reply #222 on: September 16, 2017, 01:05:02 PM »
There are so many race threads, but this is the one I (we) currently belong in (for a little bit anyway).

I was at $200K net work when I started tracking in 01/10.  Hit $500K in 10/13 (two kids and two unpaid maternity leaves, one cross-country move during this time).

Reached $900K in 08/17 (seems like it took a while but we remodeled a home, welcomed kiddo #3, took an extended 6 month unpaid mat leave, bought a car with cash).

Hoping to reach $1M in 03/18.    If that holds true, then it will have taken 13 years after graduation from college to reach the first $1M.  Not a race really, just a slow steady climb.

Net worth includes all investments, kids college funds and limited home equity.  I use purchase price as value though it has gone up $50K in value since we bought.   The reason I use purchase price is that if we are relocated, the only purchase price we are guaranteed is the amount we paid.  So every time we move, we see a nice jump in net worth as the equity is realized in my calculations.  I also don't include the value of our pensions because while fairly safe, it feels like counting eggs before they hatch.

salt cured

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Re: Race from 500k to 1M!
« Reply #223 on: September 16, 2017, 04:38:49 PM »
Hello! I just finished the race to $500k (and created a new account) and now have my sights set on $1000k! Spouse and I are a two-income household, no kids, and higher income. Together we will gross about $230k this year. Expecting ~$265k next year. But spending is also high, at roughly $90k. We saved $100k last year, are on track for about the same this year, and are looking to boost that to $140k in 2018. If this continues, my most optimistic prediction is that well hit one million in about 36 months.

I have some other other mini-goals (spouse is mostly hands off when it comes to our money). I want to start putting money in a taxable investment account. Currently, all of our investments are tax sheltered since we can put just under $100k/year into IRAs, 401ks, etc (the tax code sure is nutty). We've maxed this space in favor of taxable investments. I also want to avoid getting fired (or, more accurately, not renewed) next year. I think I could potentially find a lower stress, higher paying job if I did, but I like my employer, my city, and my house, so Id like to stay for another 3 to 4 years. Plus, I just created an online course for my university that will provide up to $20k in mostly passive income each year and would like to exploit that for as long as possible. Last, we have $12,000 in student loans Id like to knock out. Sounds crazy, I know, but my in-laws consider it their debt. We only recently started paying anything toward it, and Im feeling like we should up our payments to be rid of it by end of next year.

Most of our growth (or losses) as we push toward $1000k will be new investments and compounding. We have a house thats had some decent appreciation (according to Zillow), but I like to be conservative and assume 1% appreciation annually. Anyway, even if Zillow is right, the extra equity would just cover the transaction costs, so it seems kinda moot to me.

Anyway, the data:

Sept 17: $500k
Feb 16: $246k
Jan 14: $180k
Earlier: No records

catccc

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Re: Race from 500k to 1M!
« Reply #224 on: September 17, 2017, 10:15:21 PM »
I'm in the middle here, currently at $712K NW and hoping to hit $1M before August 2019, when I turn 40:

2016 Ending NW $712K
End of year goals for-
2017: $815K
2018: $945K
2019: $1,075K

Quarterly-ish update: $775K as of 4/28/2017, making the year end goal very much in sight...

Another update.  This year is looking so nice that a million might be possible before the end of 2018!  At 8/31 we are at $824K, and I've revised our year end goal to $850K, which seems doable.  We are getting so close to $1M, and I know it seems like it's been a long journey, but it was just 3 years ago, 2014, when we were hovering at the half million mark.  To be nearly doubling it in about 4 years sounds a little crazy.  Btw, I don't think I mentioned this before, but there's no home equity in our #s as we are renters.