Author Topic: Another few years like this....  (Read 1918 times)

High FIdelity

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Another few years like this....
« on: July 21, 2013, 06:36:57 PM »
I decided today, on a sheer lark, to start running through my year end retirement account statements dating back as far as 2003, the max Fidelity will let you get to at this point (without a phonecall, I assume).  Without going into specific numbers, it was with utter surprise that through a combination of regular monthly contributions through up and down markets for the last 10 years, the amount I had in 2003 is about 10x greater as of today...and the year isnt even over yet.  Even since 2008, the lowest point of this entire housing/fiscal mess where most of our portfoliios took a huge bath, I am 5.5x ahead of what I was then when my own portfolio lost about 1/2 its value that year. 

I often wonder if it's though a combination of investment acumen  (I have worked on the 'Street' for a good part of the last 20 years, not as a banker, but you tend to see the news cycle differently if you pay attention), tenacity and sheer dumb luck that I find myself where I find myself.  Present numbers are not yet anywhere near retirement levels, but if I can replicate 1/2 of what I did in the last 10 years, I'll be at the cusp, and if I have another 10 years exactly like I just had, you're all invited by for margaritas :)

I cant say my rise has been through sheer Badassity, but it just goes to show you everything MMM has been preaching really makes the difference with a little bit of luck, some good knowledge and not being a moron.   Im also trying to apply as many of his principles as possible...I handed back the cable box....smartest thing I did...why did I wait so long?  A little tough to be totally badass where I live (Manhattan) where I dont own, but worst case, I'll be a little delayed in my goal.  I think I have a good chance to get out of the rat race in 10 years assuming I dont get bounced from work.

Keep investing, everyone.  Sticking to the plan will garner good results in the end if you invest wisely, and of course, the power of compounding that creates that money wave we all love.