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General Discussion => Share Your Badassity => Topic started by: albireo13 on September 16, 2017, 09:11:05 AM

Title: Yay! Got to$1.8M liquid assets!
Post by: albireo13 on September 16, 2017, 09:11:05 AM
Just crossed the $1.8M mark, total from 403B, 401K, IRAs and a few lumped pensions.

Does not include another annuity pension ($2400/mo), both our SS income, or $110K equity on the house!

Downside:  still owe $340K on house.

Feeling better than a few months ago.
Of course, we're likely to have a market correction and it will all got to he$$.
Title: Re: Yay! Got to$1.8M liquid assets!
Post by: HipGnosis on September 16, 2017, 03:05:15 PM
How'd you do it?   THAT is what you're suppose to share.  You're just bragging.
Title: Re: Yay! Got to$1.8M liquid assets!
Post by: bortman on September 16, 2017, 03:22:33 PM
I don't think any of your assets qualify as 'liquid'.
Title: Re: Yay! Got to$1.8M liquid assets!
Post by: bortman on September 16, 2017, 08:13:17 PM
Congratulations on your achievement!

Sorry for being brash with my earlier comment .. just noting that your assets aren't readily accessible without doing some work first.

So, how did you amass your wealth? Give us some details so we can learn from your experience!
Title: Re: Yay! Got to$1.8M liquid assets!
Post by: albireo13 on September 17, 2017, 05:29:43 AM
Yes, the house equity is not liquid.
The IRAs I can consider liquid, and I can convert the 401Ks to IRAs down the road.  I am 61yo so no penalty on distributions, just tax.
I have no plans to dip into my retirement at all until after I retire.

No great financial events, just conservative savings and 401K contributions over the years.  I've been lucky to have stable engineering jobs. I've amassed over $900K in 401K and IRAs, over my 38y career.Part of that ($250K) is inheriting my first wife's IRA when she passed away at 40yo.   
That was tempered ...  raising 3 kids on my own put a dent in my savings plan for about 5 years.
Looking back, I could have been way better about savings.

Remarried and my current DW has amassed over $800K over 34y career.
Title: Re: Yay! Got to$1.8M liquid assets!
Post by: AccidentalMiser on September 17, 2017, 06:51:36 AM
Congrats!  I noticed from your ticker that you have 19 months before giving notice and from your post that you're 61.  May I ask why you are choosing to remain at your job for 19 months? 

I'm not calling you out, I'm just curious.

Thanks!
Title: Re: Yay! Got to$1.8M liquid assets!
Post by: albireo13 on September 17, 2017, 07:09:04 AM
No problem.   
Well, I actually may work longer ... TBD.  I want to stick out my current project, which will finish in about 2 years.   The bigger reason is we want to save a bit more $$ to help with my youngest in college, and he has 3 years left.  Also, will need a new-used car in about a year.  I want all non-mortgage debt gone, and a good cash buffer (+$10K) in place before retiring.     All that will take a year or so I figure.
Title: Re: Yay! Got to$1.8M liquid assets!
Post by: AccidentalMiser on September 17, 2017, 08:44:14 AM
No problem.   
Well, I actually may work longer ... TBD.  I want to stick out my current project, which will finish in about 2 years.   The bigger reason is we want to save a bit more $$ to help with my youngest in college, and he has 3 years left.  Also, will need a new-used car in about a year.  I want all non-mortgage debt gone, and a good cash buffer (+$10K) in place before retiring.     All that will take a year or so I figure.

Thanks!  I'm still about 4 years out from RE (although I'm closing fast on the FI) and I've been trying to ensure I've considered all the possible roadblocks and get ready.  At my company, when you leave, it's tough to return.