Author Topic: It was fun while it lasted (Read 11520 times)

shunkman · « **on:** January 31, 2018, 04:14:39 PM »

Last week it was fun being a millionaire for the first time. This week the second comma in my 401k balance is gone. Maybe the correction is upon us.

rab-bit · « **Reply #1 on:** January 31, 2018, 04:28:42 PM »

I'm still hanging on to my second comma, but l'll lose mine too if the S&P drops by a few percent (just got it a couple of weeks ago). But don't worry, if you hold tight it's inevitable that it will be back.

Melf · « **Reply #2 on:** January 31, 2018, 04:49:08 PM »

I was so close to the 1M mark as well. I was hoping for a good start to this week to push me over the top but I was denied. I'll continue to wait and hope that we don't have a prolonged backwards move.

Financial Ascensionist · « **Reply #3 on:** January 31, 2018, 05:18:15 PM »

I remember when I was in that position. I still celebrated the milestone, knowing very well that is was probably not going to last. You achieved something big, be proud of yourself! If your net worth regresses passed an important milestone, just remember that a bit of geo arbitrage is probably all it takes to get it back. In my case, I know that moving back to Canada (I was in the US), was all it would take to resurrect the milestone. I also had two levels of celebration: crossing the milestone, and maintaining it for three months.

Congrats, everyone! If you made it that far, you have what it takes to get back there after some small market fluctuation.

Bateaux · « **Reply #4 on:** January 31, 2018, 07:51:36 PM »

It happens. I was 31k from 2M and that went to 54K from 2M. Stay the course.

FiveSigmas · « **Reply #5 on:** January 31, 2018, 08:39:22 PM »

I hate to break it to you, but you'll need to return your complementary top-hat and monocle, at least until you rejoin the club.

Just don't forget the secret hand-shake (and keep saving :-) )!

Greenback Reproduction Specialist · « **Reply #6 on:** February 01, 2018, 10:25:32 AM »

Nice work, stay the course : )

DS · « **Reply #7 on:** February 01, 2018, 10:28:03 AM »

Quote from: shunkman on January 31, 2018, 04:14:39 PM

Last week it was fun being a millionaire for the first time. This week the second comma in my 401k balance is gone. Maybe the correction is upon us.

If I understand this correctly...top is in?

https://forum.mrmoneymustache.com/investor-alley/top-is-in/

dougules · « **Reply #8 on:** February 01, 2018, 11:58:04 AM »

If you're not anywhere close to FIRE, losing the second comma isn't really a bad thing. You're buying in cheaper now.

Greenback Reproduction Specialist · « **Reply #9 on:** February 01, 2018, 12:07:00 PM »

Quote from: DS on February 01, 2018, 10:28:03 AM

Quote from: shunkman on January 31, 2018, 04:14:39 PM
Last week it was fun being a millionaire for the first time. This week the second comma in my 401k balance is gone. Maybe the correction is upon us.

If I understand this correctly...top is in?

https://forum.mrmoneymustache.com/investor-alley/top-is-in/

I figured so as well... but the new fed chairman might have a different opinion than the previous. As Warren Buffet put it, "interest rates are like gravity"...... Still, I'm having a really hard time buying right now.

moof · « **Reply #10 on:** February 01, 2018, 12:12:06 PM »

Quote from: dougules on February 01, 2018, 11:58:04 AM

If you're not anywhere close to FIRE, losing the second comma isn't really a bad thing. You're buying in cheaper now.

+1. I would rather there be a big correction now, 7 years before my goal, than to have things stay so pumped up while I am still in the "buy stocks like mad" mode. My tune will change in a few years...

Tabaxus · « **Reply #11 on:** February 04, 2018, 11:16:15 AM »

With all apologies for people that are not in an accumulation phase: despite the fact that I dropped about $125k into the market in the last 3 months ($60k into taxable at the end of December from my year-end bonus + $11k into Roth IRAs on Jan 3 or so, +11k into 401(k) on Jan 10, +6.9k into HSA on Jan 3, + $38k at the end of November that I had failed to regularly invest as my paychecks came in), I'm seriously hoping for a massive correction. Need to get some cheaper buying opportunities, and wouldn't remotely mind the impact it would have on the Republican's re-election prospects.

But, who knows what will happen. Over the past couple of years I have not been as diligent about consistent investing as I should have been because I figured that the market would eventually need to tank. Is what it is, glad I didn't hold everything out, but I need to just stick to the plan of doing a monthly sweep and being done with it.

AccidentalMiser · « **Reply #12 on:** February 04, 2018, 12:16:28 PM »

My second comma is due in April.

Yours will return in due course, I predict. Sounds like a great reason to have a party!

Congrats!

Davids · « **Reply #13 on:** February 05, 2018, 01:58:38 PM »

I think I may have left the club today. Hopefully I'll be back in it soon.

Scandium · « **Reply #14 on:** February 05, 2018, 02:10:00 PM »

I'd start to worry once you loose the next comma

mxt0133 · « **Reply #15 on:** February 05, 2018, 02:38:43 PM »

For once my annual re-balancing worked like it was supposed to. The run up in US equities pushed my AA beyond my allowable thresholds and I forced myself to re-balance and not get greedy and try to time the market by letting it go any further from my specified allocation.

I was getting close to the two comma number as well and started to get giddy, but then remembered that I would be working at least 5 more years until i'm ready to semi-fire so was honestly not feeling to good about reaching the 7 figure mark after a 7-9 year bull market run. I would feel more confident about FIRE if I reached my number during or at the bottom of a recession/market correction.

Well I go my wish and it's good to know that I still feel the same, I hope is goes down a bit more, but not too much more or too fast, then I might have to re-balance again.

EDIT: Adding, it could be worse, you could have jumped on the crypto bandwagon and lost 50% in a month's time.

fidreamer · « **Reply #16 on:** February 05, 2018, 02:43:45 PM »

Quote from: FiveSigmas on January 31, 2018, 08:39:22 PM

I hate to break it to you, but you'll need to return your complementary top-hat and monocle, at least until you rejoin the club.

Just don't forget the secret hand-shake (and keep saving :-) )!

LOL! Pretty sure I got kicked out as well. I feel like I'm in good company though.

RedmondStash · « **Reply #17 on:** February 05, 2018, 02:46:13 PM »

On the bright side, this is a good time to do IRA to Roth conversions, because you can move a larger percentage of IRA assets without paying more taxes than you would have a week ago.

I'm gonna wait another day or two in case it keeps falling, though I suspect I'll kick myself for not grabbing the chance today. But really, who knew?

wenchsenior · « **Reply #18 on:** February 05, 2018, 03:02:01 PM »

We were literally in the 800K net worth club for about 2 days LOL.

FireHiker · « **Reply #19 on:** February 05, 2018, 03:05:40 PM »

Quote from: moof on February 01, 2018, 12:12:06 PM

Quote from: dougules on February 01, 2018, 11:58:04 AM
If you're not anywhere close to FIRE, losing the second comma isn't really a bad thing. You're buying in cheaper now.
+1. I would rather there be a big correction now, 7 years before my goal, than to have things stay so pumped up while I am still in the "buy stocks like mad" mode. My tune will change in a few years...

Another +1; we have 5-7 years left so I'd rather it correct now...

We aren't quite to the second comma in investments yet (well past it if I include our home equity), so we don't have it to lose yet anyway.

I'm a red panda · « **Reply #20 on:** February 05, 2018, 03:19:00 PM »

I feel fortunate to have enough money that I can lose tens of thousands of dollars in one day.

Bateaux · « **Reply #21 on:** February 05, 2018, 04:32:10 PM »

Quote from: Bateaux on January 31, 2018, 07:51:36 PM

It happens. I was 31k from 2M and that went to 54K from 2M. Stay the course.

I'm likely 100k or so away from goal now. Why am I smiling? I'm still buying.

Bateaux · « **Reply #22 on:** February 05, 2018, 04:34:25 PM »

Quote from: iowajes on February 05, 2018, 03:19:00 PM

I feel fortunate to have enough money that I can lose tens of thousands of dollars in one day.

This/\ /\ /\ so very much!

Zamboni · « **Reply #23 on:** February 05, 2018, 04:49:16 PM »

Quote from: mxt0133 on February 05, 2018, 02:38:43 PM

For once my annual re-balancing worked like it was supposed to.

:-) Mine too!

I actually pulled the trigger a couple of weeks before I was due after the January run up because it just seemed too weird to make that much money in one month. I also completely cashed out my taxable account at the end of January. Since I usually do my semi-annual couch potato rebalance in mid-Feb, and the taxable was for a planned expense (not market timing), I'm stroking the kitty like an evil genius right now.

dude · « **Reply #24 on:** February 06, 2018, 08:42:47 AM »

Quote from: DS on February 01, 2018, 10:28:03 AM

Quote from: shunkman on January 31, 2018, 04:14:39 PM
Last week it was fun being a millionaire for the first time. This week the second comma in my 401k balance is gone. Maybe the correction is upon us.

If I understand this correctly...top is in?

https://forum.mrmoneymustache.com/investor-alley/top-is-in/

That thread is pure gold.

NorthernBlitz · « **Reply #25 on:** February 06, 2018, 12:13:46 PM »

Quote from: Scandium on February 05, 2018, 02:10:00 PM

I'd start to worry once you loose the next comma

This is the right answer.

Davids · « **Reply #26 on:** February 06, 2018, 05:43:58 PM »

Quote from: Davids on February 05, 2018, 01:58:38 PM

I think I may have left the club today. Hopefully I'll be back in it soon.

Update: Back in the club. Hopefully they don't kick me out again tomorrow.

mxt0133 · « **Reply #27 on:** February 07, 2018, 12:27:33 AM »

Quote from: Zamboni on February 05, 2018, 04:49:16 PM

... I'm stroking the kitty like an evil genius right now.

Don't forget the pinky!!!

Linea_Norway · « **Reply #28 on:** February 07, 2018, 01:38:03 AM »

Usually I update med FIRE spreadsheet monthly or so, with the new sum my index funds show. So far it has always gone up. Now the sum is lower than before, but I'm not bothering to correcting it at this moment. I will just continue to buy more funds whenever I get my paycheck and I rely on the funds climbing back to that amount at some time in the future. I will make sure I correct the numbers well before we really FIRE (hopefully in 2020).

rab-bit · « **Reply #29 on:** February 26, 2018, 04:32:58 PM »

Quote from: Davids on February 06, 2018, 05:43:58 PM

Quote from: Davids on February 05, 2018, 01:58:38 PM
I think I may have left the club today. Hopefully I'll be back in it soon.
Update: Back in the club. Hopefully they don't kick me out again tomorrow.

Me too, as of today. It didn't take long to get back, let's see if it holds...

Brother Esau · « **Reply #30 on:** February 26, 2018, 05:41:26 PM »

Bottom is in!

dougules · « **Reply #31 on:** February 27, 2018, 10:53:13 AM »

Quote from: Davids on February 06, 2018, 05:43:58 PM

Quote from: Davids on February 05, 2018, 01:58:38 PM
I think I may have left the club today. Hopefully I'll be back in it soon.
Update: Back in the club. Hopefully they don't kick me out again tomorrow.

I hope they do. It's so expensive.

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Author Topic: It was fun while it lasted (Read 11520 times)