Can't share with friends, so will here. Just hit $1,000,000!

[dabighen]

Hi all,

Its poor taste to tell friends or family but gotta share good news.  We just reached our seventh digit in our investment.  I am sure we will dip above and below several more times but I am proud of this.  I am 36, and technically my net worth is more like $800,000 due to my mortgage, but it is so satisfying seeing 1,004,199.47 in my investment portfolio.  Household income since college along the way:  2009: 33,000...2011:  55,000...2013: 60,000...2015:  110,000...2019:  $130,000

[RWD]

Congrats!

[Focus_on_the_fire]

Kudos! It takes commitment to do what you've done. Nice job.

[Brezhnev]

Great job! But why fear telling friends and especially family about your money situation, like you are ashamed of it? This is just a number, and who knows, maybe you'll influence them to become capitalists like you and not merely wage slaves consumers. Personally, I make a point of letting know friends and family about my general finances, and if they ask further-all the details: saving, investing, bicycles, etc and how it's all connected. Not to brag (maybe a little bit) this is truth after all, but to let them see that there are ways to lead a more liberated life.

[ender]

Great job! But why fear telling friends and especially family about your money situation, like you are ashamed of it? This is just a number, and who knows, maybe you'll influence them to become capitalists like you and not merely wage slaves consumers. Personally, I make a point of letting know friends and family about my general finances, and if they ask further-all the details: saving, investing, bicycles, etc and how it's all connected. Not to brag (maybe a little bit) this is truth after all, but to let them see that there are ways to lead a more liberated life.

My family is already judgmental enough about my choices that the idea of telling them that we're millionaires seems like pouring gasoline on a fire.

[iris lily]

Good job, OP! It is great to have a place like this to talk about asst growth.

Until I became old and retired, I only shared our asset growth with two friends. One of them I was very comfortable with because he is on the same path as we are, looking for early-ish retirement but not real early, and wanting a very very safe and conservative stash before he jumped ship.

The other person was a former friend who I haven’t talked to in quite a while because he got mad at me. But he was obsessed with money and his investments, and I let it slip once what our net worth was.

But now I am old and I don’t care and so I tell people our net worth when we’re talking about money. One reason being that we are renovating  a house in a small town that will be moving to, and will we will have a good $300,000 into it and probably more. It will be worth around $185,000 when we are through. Haha. It’s only money!

[MrDelane]

Fantastic!  And congratulations!

[Sandi_k]

Great job! But why fear telling friends and especially family about your money situation, like you are ashamed of it? This is just a number, and who knows, maybe you'll influence them to become capitalists like you and not merely wage slaves consumers. Personally, I make a point of letting know friends and family about my general finances, and if they ask further-all the details: saving, investing, bicycles, etc and how it's all connected. Not to brag (maybe a little bit) this is truth after all, but to let them see that there are ways to lead a more liberated life.

It's not about shame. It's about them expecting handouts, and more assistance than we already give.

[JLee]

Hi all,

Its poor taste to tell friends or family but gotta share good news.  We just reached our seventh digit in our investment.  I am sure we will dip above and below several more times but I am proud of this.  I am 36, and technically my net worth is more like $800,000 due to my mortgage, but it is so satisfying seeing 1,004,199.47 in my investment portfolio.  Household income since college along the way:  2009: 33,000...2011:  55,000...2013: 60,000...2015:  110,000...2019:  $130,000

If you are counting your mortgage as a negative you should count your house value as a positive too!

[2sk22]

Thats great - and I am glad to share your happiness at this achievement!

[use2betrix]

Awesome milestone! Your “inability to share” is a pretty common theme around here. I only share details with my parents and two very close friends (who happen to be very successful financial planners, so they both have more $ than I do and also know everyone else’s financial business).

[maizefolk]

Congratulations! I think being able to share excited about milestones like this is one of the great things about this community. Since it is so often hard or impossible to do it in a positive way with friends or family.

Also, if I'm doing the math right your total lifetime income is only slightly more than $1M. So you're coming up on the really awesome milestone of having more money than you've earned. Go you!

[Miss Piggy]

Great job! But why fear telling friends and especially family about your money situation, like you are ashamed of it? This is just a number, and who knows, maybe you'll influence them to become capitalists like you and not merely wage slaves consumers. Personally, I make a point of letting know friends and family about my general finances, and if they ask further-all the details: saving, investing, bicycles, etc and how it's all connected. Not to brag (maybe a little bit) this is truth after all, but to let them see that there are ways to lead a more liberated life.

It's not about shame. It's about them expecting handouts, and more assistance than we already give.

My mother asked me a few years ago how we were doing with our retirement savings. I paused for a moment and reflected on our numbers as well as recent articles I had read about 'average savings for people your age.'  Then I answered in one word, "Outstanding."

She had no follow-up questions and appeared to be happy with my answer. We've never discussed it since then.

But if my in-laws asked a similar question, they would get a very different reply. Can't take the risk with that side of the family.

Congrats, OP!!!

[hounton]

Congratulations!  I image it feels amazing and you should be so proud of yourself for increasing your income so dramatically.  I love it when we get to the point where our investments is earning more than our salary.

Family is quite a thing.  My mom is the most amazing person but when we talk about retirement she says, "your retirements in the stock market?  Isn't that risky?  Can't you lose it all?"  Oh mom, the days of pensions are gone (well, my husband will have one but it will be small) and it's in index funds.... 

[Gone Fishing]

Very nice!  Expected retirement date?

[dabighen]

Awesome milestone! Your “inability to share” is a pretty common theme around here. I only share details with my parents and two very close friends (who happen to be very successful financial planners, so they both have more $ than I do and also know everyone else’s financial business).

My wife and I get judgement about our frugality and I imagine folks would look at us even more as cheapskates if they knew we were nearing wealthy status.  I am happy to be an unknown millionaire.

[dabighen]

Very nice!  Expected retirement date?

I'm thinking I could swing it at 40.  I want to basically just take an 18 year sabbatical to hang out with the kids and return, but I am concerned it will be a challenge re entering the work force.  I am kinda chicken I guess.  But have time to put some thought I to it... I think 1.8 Million would be my number.  But it feels so good knowing I could leave any time and not starve.

[draco44]

But it feels so good knowing I could leave any time and not starve.

Great job! This is a huge accomplishment. I get wanting to be discreet.

Re. the line quoted above, I know that One More Year syndrome is a big thing on this forum, so it's excellent to hear that with your current finances, you already feel you are at the point of having F.U. money, even though you'll probably stick around a bit longer to pad the coffers some more.

[dabighen]

Congratulations!  I image it feels amazing and you should be so proud of yourself for increasing your income so dramatically.  I love it when we get to the point where our investments is earning more than our salary.

Family is quite a thing.  My mom is the most amazing person but when we talk about retirement she says, "your retirements in the stock market?  Isn't that risky?  Can't you lose it all?"  Oh mom, the days of pensions are gone (well, my husband will have one but it will be small) and it's in index funds....

Haha!  Yes, I have friends who pay a lot of money for a financial advisor with nifty charts showing confusing "efficient fronteer" algorithms and shit.  I say to them, maybe I am doing it wrong g but I am about 98% vti and 2% cash.  I have just never told anyone how much.  It's great I am able to share on this forum. 

Are you retired?  Do you plan to?

[dabighen]

Congratulations! I think being able to share excited about milestones like this is one of the great things about this community. Since it is so often hard or impossible to do it in a positive way with friends or family.

Also, if I'm doing the math right your total lifetime income is only slightly more than $1M. So you're coming up on the really awesome milestone of having more money than you've earned. Go you!

Wow, I never even gave this a thought.  That is pretty cool.  I know I started investing during the start of the great recession so that certainly helped.  But it makes me laugh looking back how conservative I was not knowing any better.  I think my first fund was vanguard STAR fund with a 60/40 stock bond split.  I invested my entire net worth of $2000 at the time.  Haha

[dabighen]

Great job! But why fear telling friends and especially family about your money situation, like you are ashamed of it? This is just a number, and who knows, maybe you'll influence them to become capitalists like you and not merely wage slaves consumers. Personally, I make a point of letting know friends and family about my general finances, and if they ask further-all the details: saving, investing, bicycles, etc and how it's all connected. Not to brag (maybe a little bit) this is truth after all, but to let them see that there are ways to lead a more liberated life.

It's not about shame. It's about them expecting handouts, and more assistance than we already give.

Yeah, you nailed it.  And it sounds lazy, but sometimes I dont want to really justify why I spend the way I do.  Spending is a reflection of what one values.  Some are baffled the car I have been driving the last 8 years is worth $4000.  Doesnt make their opinion wrong or mine right, just each to their own, you know.    I am sure I spend money on some things that leave others scratching their head but just dont want to have folks say "dude, buy a better _____ for crying out loud...you have a million dollars for cChrist's sake!

[crowinghen]

Awesome! Congratulations!
And unfortunately not everyone can share the good news with family, I get that, people get weird.

[joemandadman189]

Congrats! thats awesome at that young age

[charis]

Great job! But why fear telling friends and especially family about your money situation, like you are ashamed of it? This is just a number, and who knows, maybe you'll influence them to become capitalists like you and not merely wage slaves consumers. Personally, I make a point of letting know friends and family about my general finances, and if they ask further-all the details: saving, investing, bicycles, etc and how it's all connected. Not to brag (maybe a little bit) this is truth after all, but to let them see that there are ways to lead a more liberated life.

It's not about shame. It's about them expecting handouts, and more assistance than we already give.

Yeah, you nailed it.  And it sounds lazy, but sometimes I dont want to really justify why I spend the way I do.  Spending is a reflection of what one values.  Some are baffled the car I have been driving the last 8 years is worth $4000.  Doesnt make their opinion wrong or mine right, just each to their own, you know.    I am sure I spend money on some things that leave others scratching their head but just dont want to have folks say "dude, buy a better _____ for crying out loud...you have a million dollars for cChrist's sake!

Same here. My parents would probably not be looking for any handouts but they are judgmental about spending. They also support a sibling who lives with them and barely works. That individual would certainly try to take advantage of the situation as they are currently doing with my parents.

My in-laws would be too proud to ask for anything, but my spouse's sibling has pressured us to chip in on purchases over the years that would lead to subsidizing their parents. That individual is also paranoid about the stock market and greatly in debt.

Also my family, friends, and work-life overlap quite a bit, everyone is gossipy and the news would spread, likely to our detriment.

[elysianfields]

Way to go @dabighen !!!

Even if you don't save any more money, if the market were to return something like its normal 7% long-run rate, your portfolio would double in just over 10 years.  Even at a more conservative rate of 5%, your portfolio will double in 15 years.

Now if you turbocharge your savings, your green soldiers will start hitting the afterburners and send your portfolio value skyrocketing.

So great to see someone so young achieve this!  Bravo!

[lemanfan]

Nice!  Two comma club membership!

[rae09]

Hi all,

Its poor taste to tell friends or family but gotta share good news.  We just reached our seventh digit in our investment.  I am sure we will dip above and below several more times but I am proud of this.  I am 36, and technically my net worth is more like $800,000 due to my mortgage, but it is so satisfying seeing 1,004,199.47 in my investment portfolio.  Household income since college along the way:  2009: 33,000...2011:  55,000...2013: 60,000...2015:  110,000...2019:  $130,000

I also don't tell friends and family for several reasons, being F&F borrowing money and judgements on the top 2.

Congratulations and welcome to the two comma club!!

[Full Beard]

That has to be an amazing feeling to get there at your age!  Way to go!!

[MasterStache]

Congrats!! No reason to share with friends. Enjoy what you've accomplished. The best joy is always internal. 

[force majeure]

Theres satisfaction in knowing, you could buy any car in the parking lot..
and probably all of them.

[talltexan]

Congratulations! Many of us here know what it's like to silently contemplate this milestone.

[Focus_on_the_fire]

I know what you mean about not being able to share, but this is HUGE! So, congrats and nice job.

[kite]

Congrats. It's such a great feeling. 

[mboley]

Congrats! I golf with a retired accountant every Friday; his advise would be to stay married, the most common age for divorce is in your 40s.

Sent from my SM-A205U using Tapatalk

[dabighen]

Congrats! I golf with a retired accountant every Friday; his advise would be to stay married, the most common age for divorce is in your 40s.

Sent from my SM-A205U using Tapatalk

I agree, married 11 years now with 4 kids and very happy with my life.  My wife is my best friend regardless of any rocky times we have had.  Got lucky for sure marrying her.

[darknight]

congrats!!

I love that the MMM community is a safe place to share this stuff. It's funny we share with random people on the web but not with friends and family. We're the same way but inching towards the 6 figure club nw. I agree, many mustachians are part of families and circles that disagree, think "they're cheapskates" etc.. No need to share info with them. Personally my family is one that if I tell one person any detail (about anything - vacation plans, vehicle I'm considering to purchase, new cell phone) it gets shared with everyone & they all have an opinion. We get flak already for our newest car being 18 yrs old and not having a TV.

[BoonDogle]

Congrats! I golf with a retired accountant every Friday; his advise would be to stay married, the most common age for divorce is in your 40s.

Sent from my SM-A205U using Tapatalk

I agree, married 11 years now with 4 kids and very happy with my life.  My wife is my best friend regardless of any rocky times we have had.  Got lucky for sure marrying her.

Very impressive!!  I have 4 kids and was nowhere near your NW or investment level at your age.  Great job.

[Dulcimina]

Hi all,

Its poor taste to tell friends or family but gotta share good news.  We just reached our seventh digit in our investment.  I am sure we will dip above and below several more times but I am proud of this.  I am 36, and technically my net worth is more like $800,000 due to my mortgage, but it is so satisfying seeing 1,004,199.47 in my investment portfolio.  Household income since college along the way:  2009: 33,000...2011:  55,000...2013: 60,000...2015:  110,000...2019:  $130,000

If you are counting your mortgage as a negative you should count your house value as a positive too!

I was thinking this too. Do you have any equity in your house?

[dabighen]

Hi all,

Its poor taste to tell friends or family but gotta share good news.  We just reached our seventh digit in our investment.  I am sure we will dip above and below several more times but I am proud of this.  I am 36, and technically my net worth is more like $800,000 due to my mortgage, but it is so satisfying seeing 1,004,199.47 in my investment portfolio.  Household income since college along the way:  2009: 33,000...2011:  55,000...2013: 60,000...2015:  110,000...2019:  $130,000

If you are counting your mortgage as a negative you should count your house value as a positive too!

I was thinking this too. Do you have any equity in your house?

Frankly, not too much equity.  I refinanced last year and invested the equity.  It was at a good time too, it was last May during COVID.  Great rate and market was undervalued following the scare.  So I may have 30k in equity but really just due to my downpayment and the hot housing market.

[ExShredder89]

Congrats @dabighen! Hope you enjoy the freedom you've achieved with this big milestone. :-)

[w@nker]

Congrats, OP!  You are a total rockstar!

[JLee]

Hi all,

Its poor taste to tell friends or family but gotta share good news.  We just reached our seventh digit in our investment.  I am sure we will dip above and below several more times but I am proud of this.  I am 36, and technically my net worth is more like $800,000 due to my mortgage, but it is so satisfying seeing 1,004,199.47 in my investment portfolio.  Household income since college along the way:  2009: 33,000...2011:  55,000...2013: 60,000...2015:  110,000...2019:  $130,000

If you are counting your mortgage as a negative you should count your house value as a positive too!

I was thinking this too. Do you have any equity in your house?

Frankly, not too much equity.  I refinanced last year and invested the equity.  It was at a good time too, it was last May during COVID.  Great rate and market was undervalued following the scare.  So I may have 30k in equity but really just due to my downpayment and the hot housing market.

If you have $30k in equity and you owe ~$200k, your house is worth ~$230k thus your net worth would be ~$30k more than the $1,004,199.47 amount listed above. :)

[Just_Me]

I'm going to piggy back on your thread and say we hit the two comma club today. It's a very, very weird feeling seeing the choices we made bring us here, also seeing how crazy the stock and real estate market have been the last 5 years. Doesn't seem like it'll last but it's sure fun to be here for now.

[dabighen]

Well done JJ!  I dont know if we will be millionaires next year or the year after, but we will be 10 years from now!

I'm going to piggy back on your thread and say we hit the two comma club today. It's a very, very weird feeling seeing the choices we made bring us here, also seeing how crazy the stock and real estate market have been the last 5 years. Doesn't seem like it'll last but it's sure fun to be here for now.

[minority_finance_mo]

Household income since college along the way:  2009: 33,000...2011:  55,000...2013: 60,000...2015:  110,000...2019:  $130,000

Congrats! And great job on the income gains along the way! :)

[Just_Me]

Well done JJ!  I dont know if we will be millionaires next year or the year after, but we will be 10 years from now!

I would have laughed if the market took a dip and dropped us out the next day. Gives a whole new perspective on " if you were a millionaire for a day what would you do".

Keep it up

[Bateaux]

Congratulations.  We'll see you in the Race from 2M to 4M thread before you know it.

[w@nker]

Niiiiiiccceeee!!!   Well done!

[oldtoyota]

Congrats!!

Do you already know about the “race to one million” and the “race to 2 million” threads here?

[Just_Me]

Congrats!!

Do you already know about the “race to one million” and the “race to 2 million” threads here?

Yup. Just waiting a bit before diving in.