Dual Celebration

[Scubanewbie]

Is this the best place for some celebrations?

Mini compared to some but I just reached $500K NW, major milestone for this family as <3.5 years ago we were at half that (only have <5 years of tracking but safe to say it was very small pre-that). 

Also, someone posted here about thinking about your investment returns in terms of it being someone working for you (a la make your money work for you).  I calc'd it today to find out it just over minimum wage, so it's bringing in $7.25/hr for 40 hrs/week all without me lifting a finger.  Yay!  Happy but of course not finished yet - new raise in the last few months and put 100% of it to increasing savings rate, am now maxing my 401k along with maxing IRAs for DH/myself and when DH is eligible for 401k we'll work on growing that to max as well.

Small celebrations that of course I can't share IRL.

[LukeHeinz57]

Way to go!!! Congratulations :-)

[prognastat]

Awesome, thats 20k a year at 4%. Not quite a level to comfortably live at but closing in on it depending on you area's cost of living and 2/3rd of the way towards 30k a year or half towards 40k. There are places in the US to live comfortably on any of those depending on what kind of life you want.

[FrugalFan]

Congrats! That's actually a huge milestone and it sounds like you are still accelerating your savings so the next big one will come even sooner!

[elaine amj]

That's fabulous!! congratulations! i love that you calculated how your money is working for you :)

[Scubanewbie]

Congrats! That's actually a huge milestone and it sounds like you are still accelerating your savings so the next big one will come even sooner!

I'm hoping so!  Since it took 3.5 years to double it this time, I'm hoping for doubling again in <5 years.  Which will be hard given it's a bigger number and compounding is only going to get me half of the way there.  I figure on 8% organic growth would get me to $735K + $40K savings per year + compounding on those new savings gets me to $970K.  That's already pretty aggressive and obviously heavily dependent on the market the next few years but I'm not planning to FIRE at $1M so it's really just an exercise to get me pushing a bit harder.

[Daughn]

Congratulations, well done !

[drunkenNoodles]

That's a huge milestone! Congrats.

[astephens94]

Well done! Best of luck achieving your next goal of $1M in <5 years!

[2Birds1Stone]

Definitely nothing mini about it. CONGRATS :)