Author Topic: Half a million!  (Read 13379 times)

InternationalStache

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Half a million!
« on: October 15, 2015, 03:07:16 PM »
Well, after today's uptick in the markets, I finally crossed a net worth of $500k (98% of which is invested in the markets)...! Whew! Fingers crossed that the second half is easier than the first :)

Physicsteacher

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Re: Half a million!
« Reply #1 on: October 15, 2015, 04:32:02 PM »
Way to go! I'm looking forward to joining you someday.

InternationalStache

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Re: Half a million!
« Reply #2 on: October 15, 2015, 04:45:37 PM »
Way to go! I'm looking forward to joining you someday.

You will! And probably faster than you imagine!

Physicsteacher

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Re: Half a million!
« Reply #3 on: October 15, 2015, 06:50:29 PM »
Thanks for the encouragement! I hit $25k in my Roth today, and it felt like a momentous occasion. I can only imagine how you must feel today.

terran

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Re: Half a million!
« Reply #4 on: October 15, 2015, 06:57:27 PM »
Thanks for the encouragement! I hit $25k in my Roth today, and it felt like a momentous occasion. I can only imagine how you must feel today.

Having hit a few milestone numbers myself, I'm going to guess it doesn't feel that different. Something like "Cool! On to the next one."

FIRE me

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Re: Half a million!
« Reply #5 on: October 15, 2015, 10:16:44 PM »
Well, after today's uptick in the markets, I finally crossed a net worth of $500k (98% of which is invested in the markets)...! Whew! Fingers crossed that the second half is easier than the first :)

Good going.

I'm coming up on a quarter million net worth myself. More money that I ever thought I'd have.

MakingSenseofCents

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Re: Half a million!
« Reply #6 on: October 15, 2015, 10:24:38 PM »
Congrats. WOOHOO! :)

InternationalStache

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Re: Half a million!
« Reply #7 on: October 16, 2015, 12:58:06 PM »
Thanks for the encouragement! I hit $25k in my Roth today, and it felt like a momentous occasion. I can only imagine how you must feel today.

Having hit a few milestone numbers myself, I'm going to guess it doesn't feel that different. Something like "Cool! On to the next one."

Pretty much! If anything, the milestones almost seem more anticlimactic--I remember being much more in a daze about hitting $100k.

clarkfan1979

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Re: Half a million!
« Reply #8 on: October 16, 2015, 06:49:38 PM »
Congrats. We've been flirting on 1/3 million for the last 3 months. Next goal is 1/2 million. I hope to see you soon.

PaulMaxime

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Re: Half a million!
« Reply #9 on: October 17, 2015, 10:42:55 PM »
That's fantastic. You will find that doubling your assets (that is 500K to 1M) is way easier than nothing to 500K.

The reason is that you have 500K sitting there doing lots of hard work for you. Compounding will really start to happen now in a noticeable way.

Also, you really see the value of saving/investing when big numbers like that appear in your account. But, over time the amount you add will be dwarfed by the work your existing dollars do all by themselves. It really is amazing.

No stoppping you now!



patrickza

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Re: Half a million!
« Reply #10 on: October 18, 2015, 03:03:38 AM »
Congratulations, I'm also hoping the second half is faster than the first!

Squirrel away

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Re: Half a million!
« Reply #11 on: October 18, 2015, 04:06:34 AM »
Brilliant.:)

Kalergie

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Re: Half a million!
« Reply #12 on: October 18, 2015, 06:28:01 AM »
Congratulations. I love this forum! No envy - only support!

A&R

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Re: Half a million!
« Reply #13 on: October 19, 2015, 09:36:03 AM »
Nice work! Big congrats! Can I ask you how long it took you to get there? That's my next milestone as well - was honestly expecting to be much closer at this point, but my complacency over the past year coupled with market turmoil has set me back quite a bit.

InternationalStache

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Re: Half a million!
« Reply #14 on: October 19, 2015, 05:11:20 PM »
Nice work! Big congrats! Can I ask you how long it took you to get there? That's my next milestone as well - was honestly expecting to be much closer at this point, but my complacency over the past year coupled with market turmoil has set me back quite a bit.

Here's my chart--I hit $100k back in July 2013, and been powering away ever since (it's taken at the first of the month, hence the reason you don't see the $500k threshold being crossed yet). I originally thought I'd hit $500k by mid summer but alas, the markets have been a wee bit choppy lol

Onward and upward! Thanks all for the great encouragement!
« Last Edit: October 19, 2015, 05:14:35 PM by InternationalStache »

FIREby35

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Re: Half a million!
« Reply #15 on: October 19, 2015, 05:40:13 PM »
Cool! Great Job.

pdxmonkey

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Re: Half a million!
« Reply #16 on: October 19, 2015, 07:59:58 PM »
Half a million is my next goal. I think I am at about 425,000 right now. Divided up it looks something like this:

Roth IRA: 100,000
Roth 401(k): 20,000
Regular IRA: 40,000
Taxable investment account: 5000
Company stock from prior job: 25,000
Home equity: 225,000
Cash:20,000
Total: 435,000


Markets are down a bit so the investment account numbers are a bit higher than reality so I subtracted about 10k off of the total as an estimate. Don't care enough to login and check as this is on autopilot.

This will be the first goal I'm really aware of happening. I don't even know the year I hit 100,000 as it was during my invest the Roth IRA max and the minimum to get company 401k matching years. 250,000 I didn't notice as it was some combination of home equity plus investments and my money was spread across a lot of various 401k accounts and IRAs that have since been consolidated. Looking forward to hitting a big number while I'm actually paying attention. Previously I've just kind of noticed when I'm closer to the next goal like now and gone, oh that's nice, but it's not x.

I need to do some math on if I should be contributing any more to Roth accounts at this point as well or if I should be contributing solely to traditional accounts.

A&R

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Re: Half a million!
« Reply #17 on: October 20, 2015, 06:25:21 AM »
Nice work! Big congrats! Can I ask you how long it took you to get there? That's my next milestone as well - was honestly expecting to be much closer at this point, but my complacency over the past year coupled with market turmoil has set me back quite a bit.

Here's my chart--I hit $100k back in July 2013, and been powering away ever since (it's taken at the first of the month, hence the reason you don't see the $500k threshold being crossed yet). I originally thought I'd hit $500k by mid summer but alas, the markets have been a wee bit choppy lol

Onward and upward! Thanks all for the great encouragement!

Well that was fast!  Great graph and awesome job! Onto the next milestone!

Avidconsumer

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Re: Half a million!
« Reply #18 on: October 20, 2015, 07:20:47 AM »
It seems like your income makes the half a million goal reasonably simple compared to a lot of mustachians on here. To reach that goal starting from 100k in just over two years is impressive. For some people it can take over 10 years to reach that goal, so I guess in a way I feel you should be setting your goals a little higher. You'll probably hit a million in 2 years.

InternationalStache

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Re: Half a million!
« Reply #19 on: October 20, 2015, 07:38:34 AM »
It seems like your income makes the half a million goal reasonably simple compared to a lot of mustachians on here. To reach that goal starting from 100k in just over two years is impressive. For some people it can take over 10 years to reach that goal, so I guess in a way I feel you should be setting your goals a little higher. You'll probably hit a million in 2 years.

Measuring my progress is admittedly something I struggle with. From the perspective you just described, it does seem almost easy to have made this much headway (ie, ~$200k per year; although this does reflect a very high savings rate); from the other perspective, it took me from 2006 to 2013 (seven years) to go from $0 to $100k (due to time in law school and subsequently paying off immense student loans) and nine years to go from $0 to $500k (ie, a much less impressive ~$55k per year). Just worth considering that the build up to this kind of income level can make the nominal savings amounts once you achieve it much less impressive....

Avidconsumer

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Re: Half a million!
« Reply #20 on: October 20, 2015, 07:58:17 AM »
It seems like your income makes the half a million goal reasonably simple compared to a lot of mustachians on here. To reach that goal starting from 100k in just over two years is impressive. For some people it can take over 10 years to reach that goal, so I guess in a way I feel you should be setting your goals a little higher. You'll probably hit a million in 2 years.

Measuring my progress is admittedly something I struggle with. From the perspective you just described, it does seem almost easy to have made this much headway (ie, ~$200k per year; although this does reflect a very high savings rate); from the other perspective, it took me from 2006 to 2013 (seven years) to go from $0 to $100k (due to time in law school and subsequently paying off immense student loans) and nine years to go from $0 to $500k (ie, a much less impressive ~$55k per year). Just worth considering that the build up to this kind of income level can make the nominal savings amounts once you achieve it much less impressive....

That's a fair point. That makes it much more impressive that you reached that goal. With all that hard work you put in, you should really go for it and be rich. Those 7 years you spent working to get to 100k, should be rewarded. I wouldn't stop at a couple mio if I was you.
« Last Edit: October 20, 2015, 08:01:26 AM by Avidconsumer »

Mntngoat

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Re: Half a million!
« Reply #21 on: October 20, 2015, 08:06:38 AM »
nice work, it happens sooner than you think.    10 more years and I'm done.

Assets:   
Cash:            $21,500
Bene IRA:        $5,900
Roth IRA:           $139,000
Trad IRA:           $22,000
401K:           $592,000
Stocks:           $12,400
HSA:           $2,900
Home Value:   $695,000
Total:            $1,490,700
   
Liabilities:   
Mortgage: 3.65%  15 years remaining   $339,500
Repayment To Parents: 0 % Interest   $106,000
Total:                                                    $445,500
   
   
NET WORTH:   $1,045,200



Murdoch

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Re: Half a million!
« Reply #22 on: October 20, 2015, 09:33:46 PM »
Congratulations.
Good luck with the next half million.

Bateaux

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Re: Half a million!
« Reply #23 on: October 23, 2015, 09:11:49 PM »
The next half million gets easier.  First 100k was the hardest.  My portfolio has fluxed 100k up and down this year.  Didn't even sweat it.  Our goal is 2M.  We're 3/4 or more there now.  Y'all got this.  Keep on going.

G-dog

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Re: Half a million!
« Reply #24 on: October 23, 2015, 09:23:01 PM »
Thanks for sharing your success! Congratulations and on to the next milestone!

enric

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Re: Half a million!
« Reply #25 on: October 24, 2015, 02:34:00 AM »
I've 10k (in euros) and I cannot even imagine what's like having half a milion. Congrats and hope you people assist me in getting to those numbers soon (this is my first post here).

InternationalStache

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Re: Half a million!
« Reply #26 on: November 06, 2015, 01:27:13 PM »
That's great!  I'm almost there. I was hoping to get there by the end of the year but I lost about 20k in that market drop :-(

Hope some of that has been restored to you over the past few weeks :)

clarkfan1979

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Re: Half a million!
« Reply #27 on: November 08, 2015, 09:24:12 AM »
Congrats. We've been flirting on 1/3 million for the last 3 months. Next goal is 1/2 million. I hope to see you soon.

We are now at 345K. We should be at 500K in two years, then at 1 million in another 8 years after that. Most of our assets are in two rental properties. We probably need 1-2 more before we can hit 1 million.

SeaEhm

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Re: Half a million!
« Reply #28 on: November 29, 2015, 10:35:17 AM »
@OP - I see that it went up about $50k (nearly 50%) in three months from July to October.

That prompted me to wonder, how much per month are you investing?  I see that you mention law school.  Are you practicing right now?

congrats on the milestone!

pdxmonkey

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Re: Half a million!
« Reply #29 on: December 03, 2015, 09:55:25 PM »
I've 10k (in euros) and I cannot even imagine what's like having half a milion. Congrats and hope you people assist me in getting to those numbers soon (this is my first post here).

It doesn't feel much different as long as you still don't have enough and have regular debt payments. I think the real key to feeling different is getting out of debt. For me at least. Every time I pay off a debt and my monthly required expenditures go down is when I feel better.

pdxmonkey

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Re: Half a million!
« Reply #30 on: April 20, 2016, 12:16:07 AM »
This is one of the first threads I posted in after joining. It's been a while, but I still remember it because it cause me to calculate my current net worth for the first time in a while and realize I was closer to half a million than I thought. If the market goes up a tiny bit or stays even and my house value goes up a bit I'll hit $500k net worth for the first time at the end of the month when I get my next paycheck.

mbk

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Re: Half a million!
« Reply #31 on: April 20, 2016, 05:51:28 AM »
Nice job InternationalStache!!!
You did the hard part and now the stache will take over!

The market uptick raised my net worth to 200k few days ago.

Roots&Wings

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Re: Half a million!
« Reply #32 on: April 20, 2016, 06:19:56 AM »
This is one of the first threads I posted in after joining. It's been a while, but I still remember it because it cause me to calculate my current net worth for the first time in a while and realize I was closer to half a million than I thought. If the market goes up a tiny bit or stays even and my house value goes up a bit I'll hit $500k net worth for the first time at the end of the month when I get my next paycheck.

Way to go pdxmonkey!

With the huge market uptick and continued steady autoinvesting, I too just crossed the 1/2 mil mark. Love hearing the stories that the next 1/2 mil is much easier/faster.

Heckler

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Re: Half a million!
« Reply #33 on: April 20, 2016, 08:33:56 AM »
100k I didn't even notice because I had no idea where my savings were going.

200k was after I started thinking about my investments, but I was still losing 5k per year in MER.  Also was concentrated in energy stocks tganks to my up to her ass in debt "advisor"

300k just this week felt great because I now understand my investments and have greatly reduced my costs to invest. Also have a globally diversified portfolio. 

400k should be just around the corner!

ecomic

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Re: Half a million!
« Reply #34 on: April 20, 2016, 08:51:39 AM »
I made 78% return with a Steal producing company from Spain, called Acelor Mittal... a bit bellow you, Not too far from that Half million you made.

Daughn

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Re: Half a million!
« Reply #35 on: April 20, 2016, 02:52:25 PM »
Wow...way to go! I look forward to reaching that goal myself.

enric

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Re: Half a million!
« Reply #36 on: August 09, 2018, 06:55:00 AM »
I've 10k (in euros) and I cannot even imagine what's like having half a milion. Congrats and hope you people assist me in getting to those numbers soon (this is my first post here).

It doesn't feel much different as long as you still don't have enough and have regular debt payments. I think the real key to feeling different is getting out of debt. For me at least. Every time I pay off a debt and my monthly required expenditures go down is when I feel better.

I've never have a debt in my life (I'm 32) and, if it's not extremely necessary, never will.