Author Topic: Race from 500k to 1M!  (Read 111545 times)

RWD

  • Handlebar Stache
  • *****
  • Posts: 2434
  • Location: Mississippi
Re: Race from 500k to 1M!
« Reply #750 on: August 07, 2018, 09:34:43 AM »
I first hit the double comma club on July 10th.

Congrats!

Roots&Wings

  • Pencil Stache
  • ****
  • Posts: 969
Re: Race from 500k to 1M!
« Reply #751 on: August 07, 2018, 10:11:34 AM »
Way to go 94!!! Congrats on the milestone and FIREing!

MayDay

  • Magnum Stache
  • ******
  • Posts: 3665
Re: Race from 500k to 1M!
« Reply #752 on: August 07, 2018, 06:51:46 PM »
722k here. My last post was too many pages back to find.

We've been going gangbusters. It's going to hurt when the market corrects.

I have a prediction based on contributions and an estimated rate of return and we keep flying past it.

onlykelsey

  • Handlebar Stache
  • *****
  • Posts: 2038
Re: Race from 500k to 1M!
« Reply #753 on: August 07, 2018, 06:54:39 PM »
We've been going gangbusters. It's going to hurt when the market corrects.

I've been thinking that as well, especially as I contemplate downshifting my career...

NinetyFour

  • Walrus Stache
  • *******
  • Posts: 5929
  • Location: Southwestern US
Re: Race from 500k to 1M!
« Reply #754 on: August 07, 2018, 11:58:05 PM »
I first hit the double comma club on July 10th.

Congrats!

Way to go 94!!! Congrats on the milestone and FIREing!

Thanks very much!!  Feels a bit unreal...   But I'm doing my best to enjoy it so far.  :)

A&R

  • 5 O'Clock Shadow
  • *
  • Posts: 61
Re: Race from 500k to 1M!
« Reply #755 on: August 08, 2018, 10:21:16 AM »
12/17/17  $739,821
01/16/18  $774,717

That jump seems crazy to me.

08/02/18  $873,766

Took a break from constantly checking my net worth for a while.

Apparently, you should take breaks more often :)

I know, right? Like a lot of you, I'm bracing for a market dip, but I think we all understand that if it goes down, it'll come up again. Trying to stress less and just have faith in the system!

letsdoit

  • Stubble
  • **
  • Posts: 230
Re: Race from 500k to 1M!
« Reply #756 on: August 08, 2018, 11:26:42 AM »
i'm cashing in a little on the market , now, for money we'll spend in next 15 months or so.  moving it from SP500 into a MMF

kapnfriday

  • 5 O'Clock Shadow
  • *
  • Posts: 67
    • The Graying Saver
Re: Race from 500k to 1M!
« Reply #757 on: August 09, 2018, 10:23:47 AM »
Invested assets:
12-2017: $510,037
1-2018: $539,718 (+29.6k)
2-2018: $514,481 (-25.2K)
3-2018: $511,273 (-3.2k)
4-2018: $515,153 (+3.8k)

(missed a few updates in here)

7-2018: $545,690

catccc

  • Handlebar Stache
  • *****
  • Posts: 1651
  • Location: SE PA
Re: Race from 500k to 1M!
« Reply #758 on: August 10, 2018, 01:36:32 PM »
Yes!  Officially hit $1M yesterday.  Super excited to have come so far.  I was checking daily since August 1st because I was so close and my birthday is this month.  I really wanted to hit it before I turned 40.  So I did it!  And the today realized that I donít turn 40 until next year.  Lol!  Iím ridiculous, sometimes.

No real estate, about $90K is the kids 529s, everything else is cash & investments.
« Last Edit: August 10, 2018, 01:39:28 PM by catccc »

Ladychips

  • Bristles
  • ***
  • Posts: 367
Re: Race from 500k to 1M!
« Reply #759 on: August 10, 2018, 03:57:31 PM »
Yes!  Officially hit $1M yesterday.  Super excited to have come so far.  I was checking daily since August 1st because I was so close and my birthday is this month.  I really wanted to hit it before I turned 40.  So I did it!  And the today realized that I donít turn 40 until next year.  Lol!  Iím ridiculous, sometimes.

No real estate, about $90K is the kids 529s, everything else is cash & investments.

Congratulations!  That's wonderful!  And happy soon-to-be birthday!

catccc

  • Handlebar Stache
  • *****
  • Posts: 1651
  • Location: SE PA
Re: Race from 500k to 1M!
« Reply #760 on: August 12, 2018, 08:25:59 PM »
Thanks!  And... it was gone two days later.  Thankfully, I wasnít expecting it to stick right away, so itís fine, no surprise.

chiefsuave

  • 5 O'Clock Shadow
  • *
  • Posts: 29
  • Age: 24
  • Location: US/NNY
Re: Race from 500k to 1M!
« Reply #761 on: August 12, 2018, 11:38:26 PM »
I come to this thread for motivation. Never lets me down.

Congrats to all and keep grinding!

talltexan

  • Handlebar Stache
  • *****
  • Posts: 1930
Re: Race from 500k to 1M!
« Reply #762 on: August 13, 2018, 11:30:42 AM »
Catccc-

congratulations on passing the $1,000,000 mark. But you seriously need to get a handle on tracking your age. If you can miss that by 2.5%, measuring net worth is going to be even harder.


actionjackson

  • Stubble
  • **
  • Posts: 102
Re: Race from 500k to 1M!
« Reply #763 on: August 14, 2018, 06:26:31 AM »
2018
Jan   398000
Feb   431000
Mar   448000
Apr   462580
May   481501
Jun - 489782
Jul - 507110
Aug - 523353

onlykelsey

  • Handlebar Stache
  • *****
  • Posts: 2038
Re: Race from 500k to 1M!
« Reply #764 on: August 14, 2018, 06:49:07 AM »
Catccc-

congratulations on passing the $1,000,000 mark. But you seriously need to get a handle on tracking your age. If you can miss that by 2.5%, measuring net worth is going to be even harder.

+1

catccc

  • Handlebar Stache
  • *****
  • Posts: 1651
  • Location: SE PA
Re: Race from 500k to 1M!
« Reply #765 on: August 14, 2018, 04:02:56 PM »
Catccc-

congratulations on passing the $1,000,000 mark. But you seriously need to get a handle on tracking your age. If you can miss that by 2.5%, measuring net worth is going to be even harder.

+1

thank you, LOL! 

I was talking with a coworker and she explained how (she thinks) I messed this one up...  According to her, it's because I spent the whole year after I turned 38 thinking, "wow, 39 is next, I can't believe 40 is around the corner."  Then after a few months, it became "wow, 39, I can't believe 40 is around the corner."  Then a few months later, it was "40 is around the corner."  I keep much better tabs on my investment account balances than my age, ha ha!


talltexan

  • Handlebar Stache
  • *****
  • Posts: 1930
Re: Race from 500k to 1M!
« Reply #766 on: August 15, 2018, 09:41:23 AM »
Another possibility--perhaps more remote--is that you somehow got switched with a version of yourself from the future. Do you notice odd things happening that you're sure happened a while ago?

**checks stock market: How odd, the SP500 is at 2,813 again? Could have sworn it was there a few months ago...

Chairman

  • 5 O'Clock Shadow
  • *
  • Posts: 56
Re: Race from 500k to 1M!
« Reply #767 on: August 19, 2018, 08:15:22 AM »
Joining the club.

...

Not sure when/if I'll get to 1m; may semi-FIRE before then.
...

If the market were to stay flat, would probably hit 1m investible around 6 months from now.
Quarterly update, November 2017:

....

Not declaring victory yet though until I have 1m investible and no debt to the bank.
Quarterly update, February 2018:

...

Quarterly update, May 2018:

...

So, net worth hits $1.5m for the first time (up $530k YoY), and now we're above $1.1m in liquid/investible assets (up $388k YoY). Currently $23k away from having enough to pay off all debt (gap closed by $485k YoY, debt down $97k YoY) and still have $1m liquid/investible. Once I have that, I'll be ready to declare victory (and graduation from this thread).
Quarterly update, August 2018:
  • Q3 2018: 1,096k liquid + 384k home equity: total 1,480k (debt: 115k)
  • Q2 2018: 1,108k liquid + 392k home equity: total 1,500k (debt: 131k)
  • Q1 2018: 1,075k liquid + 409k home equity: total 1,484k (debt: 141k)
  • Q4 2017: 1,005k liquid + 332k home equity: total 1,337k (debt: 189k)
  • Q3 2017: 894k liquid + 313k home equity: total 1,207k (debt: approx 193k)
  • Q2 2017: 720k liquid + 250k home equity: total 970k (debt: approx 228k)
Net worth drops back down to where it was 6 months ago (whoops, but still up $273k YoY, and still over $1m in liquid/investible). Currently $19k away from having enough to pay off all debt (gap closed $280k YoY, debt down $78k YoY) and still have $1m liquid/investible. My numbers are heading south and I am planning on spending a bit on the home before the end of the year so expect my liquid funds to drop down further. Now all I need is a massive global crash to teach me the errors of my ways.

SCUBAstache

  • Handlebar Stache
  • *****
  • Posts: 1119
  • Age: 33
Re: Race from 500k to 1M!
« Reply #768 on: August 19, 2018, 10:45:31 AM »
I'm continuing to bounce around in the 800 - 850k range, nearly 30k in medical expenses plus the sorta flat market recently hasn't helped! But I got good news at work that means I will be rent-free in 2019... so maybe that will be my year to hit the two comma club. Congrats to all the recent millionaires!

End of March clocking in at 839k. With 3 paychecks, and a tax return of around 1.5 pay checks, I was excited to reach 850k this month. But the market had other plans. Womp womp. My total assets are still a tad above 1MM which is pretty cool - though I think my home value is a bit inflated at the moment.

February 2018: 827k
January 2018: 831k
December 2017: 812k
December 2016: 650k
December 2015: 487k
December 2014: 412k
December 2013: 350k

catccc

  • Handlebar Stache
  • *****
  • Posts: 1651
  • Location: SE PA
Re: Race from 500k to 1M!
« Reply #769 on: August 21, 2018, 12:39:04 PM »
Another possibility--perhaps more remote--is that you somehow got switched with a version of yourself from the future. Do you notice odd things happening that you're sure happened a while ago?

**checks stock market: How odd, the SP500 is at 2,813 again? Could have sworn it was there a few months ago...
ha ha!


aaand, we're back!  We are again millionaires.  DH says our next goal should be to far enough past it to stop these dips back under the million mark.  I feel like a lot of people plan to pull the plug before they even hit $1M, but that can't support our current spending, which is just under $60K/year.  I am hesitant to pull that back as we are relatively happy with our current lifestyle.  I also don't really anticipate any other income source after we pull the plug.  It seems like most people that hit FI don't just hit it with investments.  They've got some real estate, or blog income, or something.  I think I need to find people that just read and hike or otherwise lead lives of leisure after RE and see how it works out for them.

gerardc

  • Pencil Stache
  • ****
  • Posts: 725
  • Age: 34
  • Location: SF bay area
Re: Race from 500k to 1M!
« Reply #770 on: August 21, 2018, 10:16:02 PM »
It seems like most people that hit FI don't just hit it with investments.  They've got some real estate, or blog income, or something.

That could make for an interesting poll actually. Who has FIREd with invested stash alone? (no paid-off house, real estate, side gigs, business income, pension, etc.). Hope that works because that's what I'll be doing!

letsdoit

  • Stubble
  • **
  • Posts: 230
Re: Race from 500k to 1M!
« Reply #771 on: August 22, 2018, 09:09:52 AM »
It seems like most people that hit FI don't just hit it with investments.  They've got some real estate, or blog income, or something.

That could make for an interesting poll actually. Who has FIREd with invested stash alone? (no paid-off house, real estate, side gigs, business income, pension, etc.). Hope that works because that's what I'll be doing!


me too.  it's starting to seem like a long haul.  espec once the kids come 

talltexan

  • Handlebar Stache
  • *****
  • Posts: 1930
Re: Race from 500k to 1M!
« Reply #772 on: August 23, 2018, 08:46:12 AM »
While I accept the logic of the 4% rule, depending entirely on your investments with no other recourse seems...riskier. I think about the possibilities to earn other money, either through part-time work, a lifestyle business, or a rental property, and how those would give you something to do instead of worrying when the next bear market comes. Sequence-of-returns risk is a bigger catastrophe if those other elements are not present.

Candace

  • Bristles
  • ***
  • Posts: 495
  • Age: 52
  • Location: Hampton Roads, Virginia
Re: Race from 500k to 1M!
« Reply #773 on: August 23, 2018, 08:53:35 AM »
It seems like most people that hit FI don't just hit it with investments.  They've got some real estate, or blog income, or something.

That could make for an interesting poll actually. Who has FIREd with invested stash alone? (no paid-off house, real estate, side gigs, business income, pension, etc.). Hope that works because that's what I'll be doing!

I did. Steady investing since leaving graduate school. No side business, no rental property, no paid off house. There are surely many others like me.

RWD

  • Handlebar Stache
  • *****
  • Posts: 2434
  • Location: Mississippi
Re: Race from 500k to 1M!
« Reply #774 on: August 23, 2018, 10:24:30 AM »
While I accept the logic of the 4% rule, depending entirely on your investments with no other recourse seems...riskier. I think about the possibilities to earn other money, either through part-time work, a lifestyle business, or a rental property, and how those would give you something to do instead of worrying when the next bear market comes. Sequence-of-returns risk is a bigger catastrophe if those other elements are not present.

Like Social Security?

In theory I plan to pull the plug right around 4% and rely on index funds only. In practice we'll have a ton of safety nets. My wife will likely continue working due to passion for her research. There's a good chance we'll receive inheritances from both sets of parents. I could receive income from one of my websites. And Social Security should be nonzero as well.

BluePhoenix75

  • 5 O'Clock Shadow
  • *
  • Posts: 22
  • Location: DMV
Re: Race from 500k to 1M!
« Reply #775 on: August 26, 2018, 07:24:44 PM »
August 2018 Update:

Our Stash (NW):
1/2018 - $565,049
2/2018 - $560,628
3/2018 - $573,526
5/2018 - $601,628
6/2018 - $624,739
7/2018 - $641,020
8/2018 - $654,685

monarda

  • Bristles
  • ***
  • Posts: 362
Re: Race from 500k to 1M!
« Reply #776 on: August 26, 2018, 07:58:02 PM »

             cash+rental equity       add primary residence equity
1/2016      $507K                         $627K
1/2017      $625K                         $797K

9/2017      $784K                         $904K

12/2017    $762K                         $903K  - remodeling primary residence! When project is done, big increase in equity!

3/2018     $725K                          $866K - still remodeling. Framing and all exterior done, all bills paid! (to contractors)

6/2018     $763K                          $910K    Hmmm. Zillow values for rental properties went way up. Making progress on the remodel.  Plumbing, insulation, electrical done. Just drywall, flooring remains!

1MM dates now   12/2020              2/2019

9/2018    $830K           $945K   We're painting this weekend! Just flooring and trim left on the remodel!  Cash went up because we paid off a bunch of credit card debt with HELOC. (0%promo rate was ending)
« Last Edit: September 24, 2018, 08:59:05 AM by monarda »

OurTown

  • Pencil Stache
  • ****
  • Posts: 916
  • Age: 48
  • Location: Tennessee
Re: Race from 500k to 1M!
« Reply #777 on: August 27, 2018, 08:54:22 AM »
We are about to pop over 500 invested.  It won't happen by the end of the month, but it is very plausible in September.

boarder42

  • Walrus Stache
  • *******
  • Posts: 7859
Re: Race from 500k to 1M!
« Reply #778 on: August 28, 2018, 06:00:58 AM »
Invest / total
6/24/16 - 362k / 500k NW
12/1/16 - 404k / 550k NW
1/1/17 - 450k / 600k NW
2/1/17 - 462k / 607k NW
5/1/17 - 514k / 666k NW
6/1/17 - 526k / 673k NW
7/1/17 - 542k / 691k NW
8/1/17 - 557k / 707k NW
11/1/17 - 603k / 753k NW
12/1/17 - 625k / 775k NW
01/1/18 - 651k /805k NW
02/1/18 - 681k / 831k NW
03/1/18 - 660k / 811k NW
6/15/18 - 750k / 950k NW
08/1/18 - 762k / 967k NW

Man we are so close 990k NW today.  been a good month in the markets.  When you get this close you just start thinking about all the dumb crap you own that you could have not purchased haha.

onlykelsey

  • Handlebar Stache
  • *****
  • Posts: 2038
Re: Race from 500k to 1M!
« Reply #779 on: August 28, 2018, 07:01:40 AM »
Invest / total
6/24/16 - 362k / 500k NW
12/1/16 - 404k / 550k NW
1/1/17 - 450k / 600k NW
2/1/17 - 462k / 607k NW
5/1/17 - 514k / 666k NW
6/1/17 - 526k / 673k NW
7/1/17 - 542k / 691k NW
8/1/17 - 557k / 707k NW
11/1/17 - 603k / 753k NW
12/1/17 - 625k / 775k NW
01/1/18 - 651k /805k NW
02/1/18 - 681k / 831k NW
03/1/18 - 660k / 811k NW
6/15/18 - 750k / 950k NW
08/1/18 - 762k / 967k NW

Man we are so close 990k NW today.  been a good month in the markets.  When you get this close you just start thinking about all the dumb crap you own that you could have not purchased haha.

I'm not quite that high (maybe 780 in a couple days, in Manhattan) but I literally got petulant about saving money all the time, looked at my personal capital, and went out and dropped 20 bucks on lunch yesterday.  Whoops.

OurTown

  • Pencil Stache
  • ****
  • Posts: 916
  • Age: 48
  • Location: Tennessee
Re: Race from 500k to 1M!
« Reply #780 on: August 28, 2018, 07:21:50 AM »
Invest / total
6/24/16 - 362k / 500k NW
12/1/16 - 404k / 550k NW
1/1/17 - 450k / 600k NW
2/1/17 - 462k / 607k NW
5/1/17 - 514k / 666k NW
6/1/17 - 526k / 673k NW
7/1/17 - 542k / 691k NW
8/1/17 - 557k / 707k NW
11/1/17 - 603k / 753k NW
12/1/17 - 625k / 775k NW
01/1/18 - 651k /805k NW
02/1/18 - 681k / 831k NW
03/1/18 - 660k / 811k NW
6/15/18 - 750k / 950k NW
08/1/18 - 762k / 967k NW

Man we are so close 990k NW today.  been a good month in the markets.  When you get this close you just start thinking about all the dumb crap you own that you could have not purchased haha.

Things I think about:  1) my two divorces!!!!!  2) my initial major/career choices in college and grad school.  3) drinking for 29 years.

Had I chosen differently I would be a multi-millionaire today.  If I could lecture my younger self, I would advise him to marry right the first time, get a law degree in his early 20s instead of in mid-life, and lay off the booze.

But we only live in the present moment so onward and upward.

letsdoit

  • Stubble
  • **
  • Posts: 230
Re: Race from 500k to 1M!
« Reply #781 on: August 28, 2018, 08:55:02 AM »
invest:  545k

gerardc

  • Pencil Stache
  • ****
  • Posts: 725
  • Age: 34
  • Location: SF bay area
Re: Race from 500k to 1M!
« Reply #782 on: August 28, 2018, 09:25:00 AM »
Invest / total
6/24/16 - 362k / 500k NW
12/1/16 - 404k / 550k NW
1/1/17 - 450k / 600k NW
2/1/17 - 462k / 607k NW
5/1/17 - 514k / 666k NW
6/1/17 - 526k / 673k NW
7/1/17 - 542k / 691k NW
8/1/17 - 557k / 707k NW
11/1/17 - 603k / 753k NW
12/1/17 - 625k / 775k NW
01/1/18 - 651k /805k NW
02/1/18 - 681k / 831k NW
03/1/18 - 660k / 811k NW
6/15/18 - 750k / 950k NW
08/1/18 - 762k / 967k NW

Man we are so close 990k NW today.  been a good month in the markets.  When you get this close you just start thinking about all the dumb crap you own that you could have not purchased haha.

Does the real estate you own fit into this category? (I assume the difference between NW and invested is a paid off house)
Imagine all the VTSAX you could have if you were a renter!

RWD

  • Handlebar Stache
  • *****
  • Posts: 2434
  • Location: Mississippi
Re: Race from 500k to 1M!
« Reply #783 on: August 28, 2018, 09:29:34 AM »
When you get this close you just start thinking about all the dumb crap you own that you could have not purchased haha.

Does the real estate you own fit into this category? (I assume the difference between NW and invested is a paid off house)
Imagine all the VTSAX you could have if you were a renter!

Have you not read boarder42's posts before? I think I'll die of shock if his house is paid off.

Roots&Wings

  • Pencil Stache
  • ****
  • Posts: 969
Re: Race from 500k to 1M!
« Reply #784 on: August 28, 2018, 10:48:22 AM »
When you get this close you just start thinking about all the dumb crap you own that you could have not purchased haha.

Does the real estate you own fit into this category? (I assume the difference between NW and invested is a paid off house)
Imagine all the VTSAX you could have if you were a renter!

Have you not read boarder42's posts before? I think I'll die of shock if his house is paid off.

Well the numbers above show $205k of paid off house, unless there's another explanation.

OurTown

  • Pencil Stache
  • ****
  • Posts: 916
  • Age: 48
  • Location: Tennessee
Re: Race from 500k to 1M!
« Reply #785 on: August 28, 2018, 10:56:31 AM »
I usually assume that when people list total net worth that includes everything, and when they list 'stache or "invested" net worth that means retirement accounts and brokerage accounts.  So, for example, in my case the difference between "invested" and "total" is my home equity in my residence plus whatever I have in cash accounts, i.e. an emergency fund. 

If you have investment real estate (which I don't) that produces income I assume you include any equity in your "invested" net worth number.

RWD

  • Handlebar Stache
  • *****
  • Posts: 2434
  • Location: Mississippi
Re: Race from 500k to 1M!
« Reply #786 on: August 28, 2018, 11:24:14 AM »
When you get this close you just start thinking about all the dumb crap you own that you could have not purchased haha.

Does the real estate you own fit into this category? (I assume the difference between NW and invested is a paid off house)
Imagine all the VTSAX you could have if you were a renter!

Have you not read boarder42's posts before? I think I'll die of shock if his house is paid off.

Well the numbers above show $205k of paid off house, unless there's another explanation.

There is some home equity for sure, but knowing boarder42 that is mostly a down payment plus house appreciation. Other non-invested assets can include checking/savings accounts, cars, boats, heirlooms, etc. Depends on the person how/if they account for those.

TempusFugit

  • Bristles
  • ***
  • Posts: 289
  • Location: In my own head, usually
Re: Race from 500k to 1M!
« Reply #787 on: August 28, 2018, 11:27:32 AM »
"Paid off" is generally interpreted to mean cmpletely paid off.  That is not the implication of boarder42's numbers.  Merely some equity on a home with presumably a remaining amount under mortgage. 

Including equity in your home is entirely appropriate and conventional for TNW, though it does require a bit of estimation for valuation.

Has boarder42 expressed some opinion about mortgages? /sarcasm

boarder42

  • Walrus Stache
  • *******
  • Posts: 7859
Re: Race from 500k to 1M!
« Reply #788 on: August 28, 2018, 11:51:39 AM »
yeah the difference is equity gained in a house that we put 20% down on 2.5 years ago.  i have a 3.25% fixed rate for 30 years we're not paying that off before 2046.  One of the reasons' we're so close to 1MM total networth is buying the right house at the right time(i know my very small local market and we arent in a HCOL but our house price is similar to those that do live there).  If we had invested and rented our Networth wouldnt be nearly as high.  we've seen around 100k after fees(if we sold) in appreciation on our house in the last 2.5 years.  the money we have in the house is less than 100k ... the market as good as its been hasnt produced that kind of return.  I'm currently evaluating some HEL options to get some more cash back.  really hoping a perfect storm happens in the next couple years for us to capitalize on - that being a market 20-30% pull back coupled with an influx of cash into bonds dropping rates back down into the 3s and pulling that cash out and dumping it into the market. 

sisto

  • Pencil Stache
  • ****
  • Posts: 870
  • Age: 49
  • Location: Sacramento, CA
Re: Race from 500k to 1M!
« Reply #789 on: August 28, 2018, 11:53:35 AM »
Invest / total
6/24/16 - 362k / 500k NW
12/1/16 - 404k / 550k NW
1/1/17 - 450k / 600k NW
2/1/17 - 462k / 607k NW
5/1/17 - 514k / 666k NW
6/1/17 - 526k / 673k NW
7/1/17 - 542k / 691k NW
8/1/17 - 557k / 707k NW
11/1/17 - 603k / 753k NW
12/1/17 - 625k / 775k NW
01/1/18 - 651k /805k NW
02/1/18 - 681k / 831k NW
03/1/18 - 660k / 811k NW
6/15/18 - 750k / 950k NW
08/1/18 - 762k / 967k NW

Man we are so close 990k NW today.  been a good month in the markets.  When you get this close you just start thinking about all the dumb crap you own that you could have not purchased haha.
Your NW and my Investments + Cash has been tracking pretty close together for months now. It's been driving me crazy being so close for so long. I hit 1M for TNW some time ago, I will be really happy when LNW hits it.

OurTown

  • Pencil Stache
  • ****
  • Posts: 916
  • Age: 48
  • Location: Tennessee
Re: Race from 500k to 1M!
« Reply #790 on: August 28, 2018, 12:20:15 PM »
$100k appreciation in 2.5 years is pretty intense.  We have seen about $60k appreciation in our fmv in about 8 years. 

boarder42

  • Walrus Stache
  • *******
  • Posts: 7859
Re: Race from 500k to 1M!
« Reply #791 on: August 28, 2018, 12:44:00 PM »
$100k appreciation in 2.5 years is pretty intense.  We have seen about $60k appreciation in our fmv in about 8 years.

when you buy it at the end of the market bottom for about 40-60k under value at the time then the market recovers rapidly as it has recently things get pretty good. we paid 440k zillow has ranged between 560k and 600k over the last few months.  We dont plan to move or sell but we timed the market correctly. I'd been looking for lake front homes in my community for 3 years and had ranch as a criteria but this one sat and sat and sat b/c it was over priced then sold and the new buyer was relocated before they could move it so it sat longer and when houses sit they lose value so I broke down and decided i'd take the inefficiency of a 1.5 story since it was lake front and the right deal.  i do not enjoy 300 dollar electric bills 3 months in the summer time but other than that its been a baller place to live - walk out the back door throw a paddle board in or pick up the family and go surfing ... its a pretty anti mustachian place but its brought us great returns in our NW and life happiness categories.

OurTown

  • Pencil Stache
  • ****
  • Posts: 916
  • Age: 48
  • Location: Tennessee
Re: Race from 500k to 1M!
« Reply #792 on: August 28, 2018, 01:19:34 PM »
Ours was also a "relo."  We bought in 2010 which was rock-bottom for our real estate market here.  The house may be too big for us once we become empty nesters.  One way we might cash out the equity is to downsize to a smaller place.  Or, we can just use the whole space for our extravagant lifestyle.  I thought about converting the upstairs family room into at "50 Shade of Gray" room, but I think we will settle for some exercise equipment.

JGS1980

  • 5 O'Clock Shadow
  • *
  • Posts: 34
Re: Race from 500k to 1M!
« Reply #793 on: August 28, 2018, 01:55:01 PM »
Ours was also a "relo."  We bought in 2010 which was rock-bottom for our real estate market here.  The house may be too big for us once we become empty nesters.  One way we might cash out the equity is to downsize to a smaller place.  Or, we can just use the whole space for our extravagant lifestyle.  I thought about converting the upstairs family room into at "50 Shade of Gray" room, but I think we will settle for some exercise equipment.

Is there such a thing as "TMI" from obscure anonymous internet forum posters?

OurTown

  • Pencil Stache
  • ****
  • Posts: 916
  • Age: 48
  • Location: Tennessee
Re: Race from 500k to 1M!
« Reply #794 on: August 28, 2018, 02:06:17 PM »
You're right, probably TMI. 

Actually Zillow has our appreciation even higher now.  Purchase price was 191 (for 3200 sq/ft).  Current fmv on Zillow is 264.

gerardc

  • Pencil Stache
  • ****
  • Posts: 725
  • Age: 34
  • Location: SF bay area
Re: Race from 500k to 1M!
« Reply #795 on: August 28, 2018, 10:44:59 PM »
One of the reasons' we're so close to 1MM total networth is buying the right house at the right time(i know my very small local market and we arent in a HCOL but our house price is similar to those that do live there).  If we had invested and rented our Networth wouldnt be nearly as high.  we've seen around 100k after fees(if we sold) in appreciation on our house in the last 2.5 years.  the money we have in the house is less than 100k ... the market as good as its been hasnt produced that kind of return.

Well yeah, buying with a down payment instantly increases your leverage by a long shot, so any market gain will be 5Xed and any market loss will easily go below -100% of your investment. I'm not sure if you're trying to pass that off as a reproducible strategy or just luck from the last few years gain?

Although I agree if you have a job or in-demand skills the leverage risk is much lower than leveraging the stock market with a margin account, because AFAIK real estate isn't callable as easily as a margin account, so in the long run you should be winning... assuming your (non-diversified) investment is doing well.

letsdoit

  • Stubble
  • **
  • Posts: 230
Re: Race from 500k to 1M!
« Reply #796 on: August 29, 2018, 06:56:21 AM »
i think they meant they were going to paint it w 50 diff shades of grey

boarder42

  • Walrus Stache
  • *******
  • Posts: 7859
Re: Race from 500k to 1M!
« Reply #797 on: August 29, 2018, 08:39:14 AM »
One of the reasons' we're so close to 1MM total networth is buying the right house at the right time(i know my very small local market and we arent in a HCOL but our house price is similar to those that do live there).  If we had invested and rented our Networth wouldnt be nearly as high.  we've seen around 100k after fees(if we sold) in appreciation on our house in the last 2.5 years.  the money we have in the house is less than 100k ... the market as good as its been hasnt produced that kind of return.

Well yeah, buying with a down payment instantly increases your leverage by a long shot, so any market gain will be 5Xed and any market loss will easily go below -100% of your investment. I'm not sure if you're trying to pass that off as a reproducible strategy or just luck from the last few years gain?

Although I agree if you have a job or in-demand skills the leverage risk is much lower than leveraging the stock market with a margin account, because AFAIK real estate isn't callable as easily as a margin account, so in the long run you should be winning... assuming your (non-diversified) investment is doing well.

i'm not stating this as replicable just responding to the comment that if i didnt have a house and rented i'd be closer to 1MM ... i'd be farther from 1MM.  in my area renting will almost always land you at a lower NW than purchasing a home b/c the cost of housing is much cheaper compared to the cost of renting - the rent vs buy is completely location dependent so your statement above that'd i'd have a higher NW renting and investing is false for more areas than it is true for most of this country i'd guess.

whywork

  • 5 O'Clock Shadow
  • *
  • Posts: 96
Re: Race from 500k to 1M!
« Reply #798 on: August 29, 2018, 06:20:16 PM »
All,

Happy to report that my networth hit an ALL TIME HIGH today with the super aggressive market returns for the past few days

I'm now at 701k, crossing 700K for the first time in my life. yayyyyyy!!!!

I expect to grow my networth aggressively from here on and I am targeting to hit the double comma milestone in roughly an year and half time. I know that sounds super aggressive especially with a single income salary but I am really aiming for it and hope to achieve with my super aggressive approach

gerardc

  • Pencil Stache
  • ****
  • Posts: 725
  • Age: 34
  • Location: SF bay area
Re: Race from 500k to 1M!
« Reply #799 on: August 29, 2018, 07:58:39 PM »
All,

Happy to report that my networth hit an ALL TIME HIGH today with the super aggressive market returns for the past few days

I'm now at 701k, crossing 700K for the first time in my life. yayyyyyy!!!!

I expect to grow my networth aggressively from here on and I am targeting to hit the double comma milestone in roughly an year and half time. I know that sounds super aggressive especially with a single income salary but I am really aiming for it and hope to achieve with my super aggressive approach

spotted your favorite word... so what's your aggressive approach?