Author Topic: With the Dow at a new milestone I can report  (Read 5671 times)

Exflyboy

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With the Dow at a new milestone I can report
« on: July 03, 2014, 09:29:46 PM »
That my liquid net worth added up to $1,399,400..

What you mean I can't find $600 under the cushions somewhere?...:)

What does this new net worth mean?.. Really not a lot at all at this point. To me the biggest value is that if we had a 50% crash in equities tomorrow I could still draw (4% of 700k) $28,000 per year and still be OK.

Have I now reach the point of "financial irrelavency"?.. Not quite, but doing OK.

Remember folks I started around minus $140k net worth just 17 years ago with a decent salary but not huge.


Keep on savin and investing!

Frank


EscapeVelocity2020

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Re: With the Dow at a new milestone I can report
« Reply #1 on: July 03, 2014, 09:39:09 PM »
Thanks for sharing.  I'm sure you are in a rarefied position 'round here, I hope you are enjoying the exuberance!

Exflyboy

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Re: With the Dow at a new milestone I can report
« Reply #2 on: July 03, 2014, 09:48:46 PM »
Actually life is very much the same (except I'm not working).. As somebody on these forums said.. "having enough money just gives you the freedom to not worry about money".

Its both a big deal and almost irrelevant at the same time.. Just ask Steve Jobs.

Frank

b1gm1ke11

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Re: With the Dow at a new milestone I can report
« Reply #3 on: July 03, 2014, 11:18:06 PM »
Congratulations Frank,

I hope to be you within the next 10 years.  :)  It's inspiring to read what you were able to accomplish in 17 years.

Mike

TomTX

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Re: With the Dow at a new milestone I can report
« Reply #4 on: July 04, 2014, 07:16:29 AM »
Congratulations, Frank!

Thedudeabides

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Re: With the Dow at a new milestone I can report
« Reply #5 on: July 04, 2014, 08:39:02 AM »
Congrats!

FireYourJob

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Re: With the Dow at a new milestone I can report
« Reply #6 on: July 04, 2014, 05:36:54 PM »
That my liquid net worth added up to $1,399,400..

What you mean I can't find $600 under the cushions somewhere?...:)

What does this new net worth mean?.. Really not a lot at all at this point. To me the biggest value is that if we had a 50% crash in equities tomorrow I could still draw (4% of 700k) $28,000 per year and still be OK.

Have I now reach the point of "financial irrelavency"?.. Not quite, but doing OK.

Remember folks I started around minus $140k net worth just 17 years ago with a decent salary but not huge.


Keep on savin and investing!

Frank

Awesome!  I'm working on getting there myself.  I'm to a point (as you've read in my other post) that a 1% here or there starts to look like real money. 

SingleMomDebt

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Re: With the Dow at a new milestone I can report
« Reply #7 on: July 07, 2014, 10:14:55 AM »
I personally would pull the $600 out of another acct to make the liquidity a perfect $1,400,000 on paper. ;)

Nice job, Frank!

Paul der Krake

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Re: With the Dow at a new milestone I can report
« Reply #8 on: July 07, 2014, 10:24:54 AM »
It's impossible to achieve wealth in this country anymore, TRILLIONS of dollars of student depth that Nancy Pelosi said not to read the fine print to before it was passed, how the hell do you expect us youngsters to make a living for ourselves??? China is stealing our jobs helped by Bernanke the Jew and Dumbobama the Muslim and nobody can afford a downpayment on a home it's only a matter of time until AMERICA is NO LONGER.

Just kidding, and congrats. We're coming after you.

Numbers Man

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Re: With the Dow at a new milestone I can report
« Reply #9 on: July 07, 2014, 10:34:27 AM »
Frankh - Such an inspiring story of what can happen in 17 years. I only wish others could learn from you.

Thedudeabides

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Re: With the Dow at a new milestone I can report
« Reply #10 on: July 07, 2014, 10:37:00 AM »
Very inspiring Frank! Nice work and thanks for sharing!

Exflyboy

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Re: With the Dow at a new milestone I can report
« Reply #11 on: July 07, 2014, 10:46:50 AM »
I personally would pull the $600 out of another acct to make the liquidity a perfect $1,400,000 on paper. ;)

Nice job, Frank!

Haha believe me I searched really hard for that last $600..hahah

Frank

Exflyboy

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Re: With the Dow at a new milestone I can report
« Reply #12 on: July 07, 2014, 10:58:29 AM »
It's impossible to achieve wealth in this country anymore, TRILLIONS of dollars of student depth that Nancy Pelosi said not to read the fine print to before it was passed, how the hell do you expect us youngsters to make a living for ourselves??? China is stealing our jobs helped by Bernanke the Jew and Dumbobama the Muslim and nobody can afford a downpayment on a home it's only a matter of time until AMERICA is NO LONGER.

Just kidding, and congrats. We're coming after you.

Hahaha, I thought I was gonna have to come and give a slap there for a minute..:)

Good, i find I am begining to get more people's attention, both on and off the forums with this stuff.

I think it easy to lose sight of the goal when you become FI and then others loose the benefit of your experiences.

I absolutely want folks to better than I did.. I could have been retired 10 years ago if I had got serious when I was in my twenties instead of messing around with expensive sports like skydiving and building two airplanes, advanced flight training etc etc.

So yes bring it on.. I want you to be free of debt, oppressive bosses etc etc.

Get serious people!

Frank

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Re: With the Dow at a new milestone I can report
« Reply #13 on: July 07, 2014, 06:12:54 PM »
I can't do better than you as I am already older!  But I can try to represent and channel my inner Frank for the folks I can influence here!

Pretty amazing story dude, pretty amazing...

ltt

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Re: With the Dow at a new milestone I can report
« Reply #14 on: July 12, 2014, 08:56:54 PM »


I absolutely want folks to better than I did.. I could have been retired 10 years ago if I had got serious when I was in my twenties instead of messing around with expensive sports like skydiving and building two airplanes, advanced flight training etc etc.

So yes bring it on.. I want you to be free of debt, oppressive bosses etc etc.

Get serious people!

Frank
[/quote]

The best piece of advice you've given to all the young people on this board is to start young--very young if you can.  Early 20s is a great time to start--teen years are even better (maybe some have teens on this board and should get them started).   And just throw any little bit of extra money you have into savings and investments--any little bit.  I had former co-workers when I was in my early 20s give me grief for contributing to an IRA; and I wasn't putting in very much, but over the years it just adds up.  Lots of people will not take advantage of a 401k.  Even if they just contribute what the employer matches--it's free money basically.   

EricL

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Re: With the Dow at a new milestone I can report
« Reply #15 on: July 12, 2014, 09:45:35 PM »
Kick ass!  But what if the market's recent success is just a bubble set to burst and drop your worth by 25%? :(  Oh wait, you'll still be kicking ass!  :)

Exflyboy

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Re: With the Dow at a new milestone I can report
« Reply #16 on: July 13, 2014, 11:15:19 AM »
Kick ass!  But what if the market's recent success is just a bubble set to burst and drop your worth by 25%? :(  Oh wait, you'll still be kicking ass!  :)

Yes.. And that is an underlying worry of mine to be honest. The problem for me is to not go and pull all my money out of the market, because lets face it sooner rather than later we KNOW a huge drop is going to happen.

The best piece of advice from a pundit on the Nightly Business report the other day said.. "yeah, the last thing you want to do is pull all your money out to avoid a 10% drop.. Only to miss a 50% run up over the next several years".

Keep your hands on the wheel and the pedal mashed to the floor!...:)

Frank

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Re: With the Dow at a new milestone I can report
« Reply #17 on: July 13, 2014, 08:00:57 PM »
That my liquid net worth added up to $1,399,400..

What you mean I can't find $600 under the cushions somewhere?...:)

What does this new net worth mean?.. Really not a lot at all at this point. To me the biggest value is that if we had a 50% crash in equities tomorrow I could still draw (4% of 700k) $28,000 per year and still be OK.

Have I now reach the point of "financial irrelavency"?.. Not quite, but doing OK.
I'm sure that you'll reach this net worth number several more times, and from both directions...

Exflyboy

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Re: With the Dow at a new milestone I can report
« Reply #18 on: July 14, 2014, 10:09:20 AM »
That my liquid net worth added up to $1,399,400..

What you mean I can't find $600 under the cushions somewhere?...:)

What does this new net worth mean?.. Really not a lot at all at this point. To me the biggest value is that if we had a 50% crash in equities tomorrow I could still draw (4% of 700k) $28,000 per year and still be OK.

Have I now reach the point of "financial irrelavency"?.. Not quite, but doing OK.
I'm sure that you'll reach this net worth number several more times, and from both directions...

Yup I expect so too