Who became a millionaire in 2021?

[clarkfan1979]

Due to low interest rates and Q/E people are predicting a record number of households that hit millionaire status in 2021. The link below is more specific to real estate, but I think the same principles apply to the stock market. It's from the Real Estate Rebel Podcast. It's hosted by Scott McGillivray, who was the host of income property on HGTV.

https://open.spotify.com/episode/2216DRo9PNaZJbxULkvWg4

When you hit one million, please share the specific date (if possible) and let's keep track of a running total. My household is currently at 925K. If real estate appreciates at 3% and the stock market at 9%, I should hit one million around October/November.

I think this thread has the opportunity to be alot of fun. Ok, who is first?

[soccerluvof4]

Maybe to get more joiners you could rename it to Millionaire or Next Million? Just an idea. Alot of peeps have 1.3 or 2.7 , you get my idea.

[MelodyG]

I did!  I don't have a specific date, but it was in the first week.

[clarkfan1979]

I did!  I don't have a specific date, but it was in the first week.

Nice!

Our running total is now at +1

It's ok if the traffic is a little slow in the beginning. I will try to refresh once a week.

[Engineer93]

If we can get a 10% market return we will probably squeak in at the very end of the year.

[JAYSLOL]

If we can get a 10% market return we will probably squeak in at the very end of the year.

I’d only need a solid 800% return and I could join this year :)

[badger1988]

We crossed over sometime in the first week of January as well.

[Enough]

I'll need ~16% investment return over the next 11 months.  Not likely, but I guess it's possible?

[Kayad]

+1 in January.  I update home/rental values annually, which is what pushed us over the hump.  Feel very fortunate for the breaks that helped us get here, and excited how realistic this makes executing our coast-y FIRE plan in the near future.

[Christof]

So what does count towards the million? Our primary residence excluding the remaining debt is more than 50% of our net worth.

[Alternatepriorities]

According to mint, we’ve crossed the line a few times in Jan. It felt pretty good to see the milestone though I have my doubts it will last the year with the current volatility.

[Dave1442397]

I haven't changed the value of our house when calculating net worth in years, and according to Zillow it's worth $36k more than my estimate. Zillow is weird with my house, though. An identical model a block over has an estimate $63k higher than ours, but neither house has been on the open market since the '60s, so I'm not sure how they figure that out.

Anyway, leaving the house as is, we need another $70k to hit $1MM.

[Alternatepriorities]

I haven't changed the value of our house when calculating net worth in years, and according to Zillow it's worth $36k more than my estimate. Zillow is weird with my house, though. An identical model a block over has an estimate $63k higher than ours, but neither house has been on the open market since the '60s, so I'm not sure how they figure that out.

Anyway, leaving the house as is, we need another $70k to hit $1MM.

I've had similar issues with Zillow. In one case, an identical house across the street from mine as well as the one next door has a price 60k higher... I'm a little worried it will set buyer's expectations lower if I sell it this year. Anyone know how to address it with Zillow?

[Dave1442397]

I haven't changed the value of our house when calculating net worth in years, and according to Zillow it's worth $36k more than my estimate. Zillow is weird with my house, though. An identical model a block over has an estimate $63k higher than ours, but neither house has been on the open market since the '60s, so I'm not sure how they figure that out.

Anyway, leaving the house as is, we need another $70k to hit $1MM.

I've had similar issues with Zillow. In one case, an identical house across the street from mine as well as the one next door has a price 60k higher... I'm a little worried it will set buyer's expectations lower if I sell it this year. Anyone know how to address it with Zillow?

From what I see in my neighborhood, Zillow can be way off depending on what a house last sold for. There were some foreclosures in our neighborhood over the past ten years, and Zillow never updated those to reflect current market value, except for the few houses that were flipped by contractors.

I'm not worried about it, though. There's one local realtor who really knows her market, and always sets a realistic sales price. When we eventually move, I'll be using her to sell the house and I'm sure we'll get a fair price.

[Digger1000]

I hit a million in investable assets on Jan 7 or 8. I've went back under twice since then but am currently over a million again the last 2 days. I retired at age 51 four years ago with 625k.

[Jimbo]

Was about to start a thread to boast a bit. As of this morning, we have crossed the line on investible assets and can join the double comma club. Woooot!!! I was eyeing that all January... and the crazy market runup definitely helped.

I'll celebrate a bit with my wife, but that's about it.

And now to build a slight buffer, weather the current high valuations and deal with the last home improvement projects... Then we can start discussing a date.

Exciting times!

[Weisass]

We will probably join the club by later this year. Market has been favorable to us, and we are over 900k at this point.

[Alternatepriorities]

This morning I woke up to no water pressure... Spent three hours diagnosing  (frozen pipe, it's -20C outside) and then fixing the problem myself. Probably doing this wrong...

[Mike in NH]

This morning I woke up to no water pressure... Spent three hours diagnosing  (frozen pipe, it's -20C outside) and then fixing the problem myself. Probably doing this wrong...

haha, I spent my afternoon replacing a burnt out sump pump...I know exactly how you feel. Congrats man, we recently joined the two comma still fixing our own crap as well club ;)

[Alternatepriorities]

This morning I woke up to no water pressure... Spent three hours diagnosing  (frozen pipe, it's -20C outside) and then fixing the problem myself. Probably doing this wrong...

haha, I spent my afternoon replacing a burnt out sump pump...I know exactly how you feel. Congrats man, we recently joined the two comma still fixing our own crap as well club ;)

Nice to know it's not just me though I think I might have the better deal with mostly clean water and pipes here.

[clarkfan1979]

I hit a million in investable assets on Jan 7 or 8. I've went back under twice since then but am currently over a million again the last 2 days. I retired at age 51 four years ago with 625k.

With this post, I think we are at +6 new millionaires in 2021.

Feel free to scroll through the thread to check my math.

My original intention was total net worth (including primary residence).

[hoosier]

I crossed the line to millionaire status sometime back in January, just barely before I turn 40 in a few months.  Feels weird to say that...both the million and 40.

[soulpatchmike]

Crossed over for the first time this morning.  I am sure there will be back and forths over the next few months, but it actually happened!  After buying my first duplex at 23 years old, getting married, buying a home, having kids, quitting my job to sell real estate, buying more rentals, having more kids, going back to a J-O-B when the recession hit, having more kids(5 total), finding out about the FIRE movement, getting laid off, getting a better job and working a plan to FIRE by 2030.  This is something I have been striving toward for 25 years and now here we are.  It is kind of hard to believe. 

Becoming a millionaire is not hard, its just hard work.

[MasterStache]

Meh, maybe next year, depending on market returns. Housing has gone batshit crazy. Our neighbors house hit the market for 1 day, at a ridiculous price, and sold immediately. F'n crazy!

I think if/when we hit 1M net worth, I'll stop working my side gig completely (or maybe not). My spouse is going to keep working for 5-6 more years for health insurance purposes.

[midwesterner1982]

Great to read all the stories.  I’m posting to follow the thread and seems we’ll be joining you in the two comma club soon. Jan 1 we were at $854k but today we’re at $965k...amazing.  The catalyst for this run was a cash-out refi that we dumped into stocks at the right time.

[Wintergreen78]

Sometime in January. I don’t do an official financial check-in until April 1 though, so it doesn’t really count. I knew I was close when I did my Year-end check-in, so I had to look again a few times during the first few weeks of the year.

[chuckster]

I don't know what I did, I crossed the $600k net worth mark sometime in January 2019.

Crossed $700k in January of 2020.

Dipped back down to $670k at the end of March when the stock market took the hit from the pandemic.

Back up to $700k by April of 2020.

Crossed $800k in November of 2020

Crossed $900k 20 days later in December of 2020

Finished January at $946k net worth.

Not even halfway through February I'm at $989k.

Really looking like I might be able to get over the hump within the next month or two. How? I don't know... my net worth increased by more than my annual salary in just the calendar month of November and again in December and things keep going up. I'm about 2 years ahead of my linear projections.

[MasterStache]

Great to read all the stories.  I’m posting to follow the thread and seems we’ll be joining you in the two comma club soon. Jan 1 we were at $854k but today we’re at $965k...amazing.  The catalyst for this run was a cash-out refi that we dumped into stocks at the right time.

We refinanced right about the time the pandemic hit last year. Wish I would have had the foresight to do a cash out refi and dump it into stocks ) :

[midwesterner1982]

We really just got lucky with the timing.  We wanted to refi at a lower fixed rate and thought possibly all this QE could create inflation where we could pay off the loan with cheaper future dollars. We also thought we could make a good return on investments over time it just turned out to get off to a good start.

[mntnmn117]

Crossed over Feb 9th. Pretty cool milestone but fully expect to go back and forth a few times this year.

[Dibbels81]

My wife and I hopefully will join the household millionaire club this year. NW currently sitting at 912k, 805k of it being assets at Vanguard. We should both be investing around 45k total into our mutual funds this year, so just a small % increase should do the trick. I'll repost and virtually celebrate with others when if does.

This is pretty crazy for me, considering my Vanguard balance was 8k when I graduated from Grad school in 2015. 50-65%% savings rate for me since, 40% for my wife and selling a house for a big profit that I purchased in 2008 did the trick. Marrying someone for their debt free lifestyle love was a good move.

[Cakes9617]

If you're talking networth, January 2021 for us too. We have no debt and it includes real estate and etc. I took the number from Mint. It's a bit weird but now has me really starting to make a plan for retirement. I think covid made it all the more important to think about squeezing the life out of what's left.  I also feel nervous since I love security and it doesn't feel like enough to me but I suppose that's what all the planning will be for going forward.

[CarolinaGirl]

I hit a million in net worth the first week of December 2020.  Looking forward to hitting a million in investments next.  That’s when I’ll really feel like a millionaire. 

[Astro]

We hit our 3rd million last month but it's back a little below that now.  It's fun to be able to share that with someone

[dcsaver]

While getting my tax documents together this weekend, I found out I hit the million dollar mark. Yay! There's almost no one I can share that information with. My spendy family members would have their hands out perpetually. Glad all of you are here so I can say it.                                       
   
I wish more people would see the wisdom of saving more and not being the patsy of every promotional and marketing campaign...

[Decibel]

I managed ot reach the giddey height for one day last month counting investments and savings only, before I quickly fell below the line. So far I have managed to jump back up over the line for 17 days this month. Things are looking up.

[dhc]

Looks like an unexpected windfall at work will put me there next month. It's a weird milestone - I'll definitely be more excited by a million in liquid investments, because that'll mean FIRE is within reach. As I've said before, unless you're planning to sell your house and downsize or move to a lower cost-of-living location, the portion of your net worth tied up in it is rather meaningless.

[chuckster]

I don't know what I did, I crossed the $600k net worth mark sometime in January 2019.

Crossed $700k in January of 2020.

Dipped back down to $670k at the end of March when the stock market took the hit from the pandemic.

Back up to $700k by April of 2020.

Crossed $800k in November of 2020

Crossed $900k 20 days later in December of 2020

Finished January at $946k net worth.

Not even halfway through February I'm at $989k.

Really looking like I might be able to get over the hump within the next month or two. How? I don't know... my net worth increased by more than my annual salary in just the calendar month of November and again in December and things keep going up. I'm about 2 years ahead of my linear projections.

Welp, after a rollercoaster in my brokerage accounts the last few weeks... a neighbor's house just sold and the comp puts my home equity, thanks to an insane housing market, a few thousand over the line of making my net worth above $1,000,000 as of today. Still not believing it just yet!

[HopefulMustachian]

My husband and I passed the million dollar mark this past week in investments! (We don't include our paid off house when calculating our FIRE goal). We hit the million dollar mark last year for total Net Worth (house+investments). For net worth we stick on the conservative side and only include the price we bought our house at, not the crazy market price it currently is at in this very unsustainable bubble we have going on in our housing market.

[dbfire]

After today's market performance I went over a million for the first time, $1,009,xxx. Also put me at 30.1x times annual expenses. Even if it's temporary and arbitrary, I'm going to celebrate tomorrow with a cheeseburger and fries from Five Guys, my twice a month cheat meal!

[sisto]

Hit the $2M Mark this year

[whitewaterchica]

I hit $1M in investments on April 9th. Even though it's something I've been actively working toward, it still feels surreal. Congrats to everyone in the thread!

[Joel]

Just clipped over the threshold in March. Feels pretty surreal to accomplish by age 32.

[JAYSLOL]

Just clipped over the threshold in March. Feels pretty surreal to accomplish by age 32.

Congrats!

[xDavidx]

I calculate net worth at the end of each month. Counting home equity, I passed a million a while. Counting only liquid investment and savings, I passed one million last month.

[badger1988]

We crossed over sometime in the first week of January as well.

1M Total net worth when I posted this. Four months later, I have crossed over 1M liquid net worth. At the end of April:

107K Value of house and two vehicles (fully paid for)
+1.005M Liquid net worth
$1,112,000 Total Net Worth

As many have said, it feels a little surreal to have reached these milestones. Took just under 10 years to get here starting at college graduation with ~0K net worth. We are now a family of 5, living on a single income since my wife became a SAHM 6 years ago.

[helloyou]

I went up from £600k to £650k net worth which was only $700k at the start but now it's worth $920k.

If the USD keeps going down while the GBP keeps going up I'll soon become USD millionaire!

[jrhampt]

My personal nw (investments plus cash only, excluding house value), NOT household nw passed 1 million in April for the first time.  Household has been past that for a while now, but it was nice to hit that in my personal stash.

[Engineer93]

We might technically be millionaires now.  The housing market in our area has gone insane, and since I have a 15-year mortgage, we probably have 250-300k in equity in our house.  That plus the ~750k invested and then our 2 paid off cars means we are close, if not already there.  Not planning to sell our house for 5-7 years, so I'm not sure exactly what it's worth.

[GodlessCommie]

We crossed $1M in LNW last month. It was very anticlimactic. Feels a bit unreal, though, with crazy growth in the middle of a once-a-century plague.