Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!
So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.
Damn thats amazing.. Well done!
I feel a little ashamed because we have definitely strayed from mustachian ways *nervous laughter* but we wouldn't be where we are if I hadn't found MMM and the other FIRE bloggers ten years ago. At the same time, even though we spent on some pretty crazy luxuries (a lake house, a boat, an electric truck), we still managed to double our net worth without my husband's salary increasing beyond the rate of inflation. I think this is a real testament to how important investing (wisely) is and how past a certain point, you just need to be conscious about your spending (e.g. forego that country club membership, say no to the professional gardening service) and your money will multiply on its own.
That's terrific. We're you heavy in Tesla, Nvidia or such? SP500 had 14.3% CAGR including dividends) over that time period so to go from $2.15M to $6.5M would have retired beating SP 500 by 10 pts (24% CAGR) or contributing about $375k annually, or some combination.
Just curious if great investing, inheritance, sale of property, super high income, etc?
Yes, we are actively contributing to our stash still. We do still save a significant portion of our sizable income, so it isn't all investments lol. We're not frugal anymore by any stretch of the imagination but we haven't gone
completely off the rails.
We do have high exposure in one stock because my husband works there, and it has done well but not phenomenally. Due to high volatility we may have done better than the SP500 depending on when the vesting dates were, hard to figure out because we also sell periodically. My husband got a large jump in pay in late 2016/early 2017, which is what brought us to 2+M in late 2019. His salary has actually decreased since those days due to how compensation works at these companies (you make the most money the first few years you work there unless you get promoted), but obviously it's still quite a lot.
So basically it took us 9 years to get to 1M, 3 years to get to 2M, then 4 years to get to 6M.