Author Topic: Race from $2M to $4M...and Beyond!  (Read 1269594 times)

cloudsail

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Re: Race from $2M to $3M.....and beyond!
« Reply #7700 on: March 13, 2024, 12:54:25 PM »
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.

ixtap

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Re: Race from $2M to $4M...and Beyond!
« Reply #7701 on: March 13, 2024, 01:04:04 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....

Turtle

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Re: Race from $2M to $4M...and Beyond!
« Reply #7702 on: March 13, 2024, 02:21:56 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....

Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

ATtiny85

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Re: Race from $2M to $4M...and Beyond!
« Reply #7703 on: March 13, 2024, 06:18:52 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....

Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…


Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #7704 on: March 13, 2024, 06:24:25 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....
Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…
Why so conservative? Asking for a friend...
« Last Edit: March 13, 2024, 09:58:56 PM by Dicey »

ixtap

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Re: Race from $2M to $4M...and Beyond!
« Reply #7705 on: March 13, 2024, 06:35:51 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....
Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…
Wht so conservative? Asking for a friend...

DH's 401ks look like this in order to achieve an overall 70/30. The rest of the bonds are in my tax deferred accounts and I bonds.

ATtiny85

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Re: Race from $2M to $4M...and Beyond!
« Reply #7706 on: March 13, 2024, 07:43:07 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....
Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…
Wht so conservative? Asking for a friend...

DH's 401ks look like this in order to achieve an overall 70/30. The rest of the bonds are in my tax deferred accounts and I bonds.

Yep, same here. Have even started shifting my rollover IRA at Vanguard from 100% equity (VTSAX) to about 90/10 (VBTLX). Trying to get our overall AA from 85/15 to 75/25 over the next year, and between her 401k, taxable and the market…the struggle is real. If the market keeps doing what it’s doing I will have to be really aggressive sometime this year. Especially with a target of maybe 65/35 the following year. Woah is me in the final phase of accumulation.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #7707 on: March 13, 2024, 10:00:04 PM »
My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...

DH is so close to being a one brokerage millionaire. There is always a dip as we get close to any milestone, I can't imagine he will make that one any time soon....
Even with some consolidation, I haven't made it to double commas in any single place yet either.  It may or may not happen between now and when I put in my notice in a couple years.

My spouse should hit it in her 401k before long. Mine has shifted to 85% bonds and 15% international, so it’s lucky to increase at all, fortunately the 10% match and catch-up fakes it upwards…
Wht so conservative? Asking for a friend...

DH's 401ks look like this in order to achieve an overall 70/30. The rest of the bonds are in my tax deferred accounts and I bonds.
Whew! You had me wor-ried.

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #7708 on: March 14, 2024, 07:12:39 AM »
@Dicey The Bogleheads wiki has a good article about this: https://www.bogleheads.org/wiki/Tax-efficient_fund_placement

I had a bit of an epiphany after reading this last year - until then I had been trying to maintain my desired asset allocation (60/40) in separately in both tax deferred and taxable. After reading his article, I decided to switch to asset allocation on my portfolio as a whole, ie both taxable and tax deferred. We have over $3M in stock in our taxable brokerage so, as a counterweight, my own IRA is mostly bonds.

tooqk4u22

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Re: Race from $2M to $3M.....and beyond!
« Reply #7709 on: March 14, 2024, 07:47:28 AM »
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?   

cloudsail

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Re: Race from $2M to $3M.....and beyond!
« Reply #7710 on: March 14, 2024, 11:57:54 AM »
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.
« Last Edit: March 14, 2024, 12:00:02 PM by cloudsail »

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #7711 on: March 14, 2024, 12:50:07 PM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

farmecologist

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Re: Race from $2M to $4M...and Beyond!
« Reply #7712 on: March 15, 2024, 08:45:08 AM »
My personal 401K is sitting at 1.95M and even though it's silly, I'm wanting to see it hit 2M. Our combined accounts is 3.7M and nonprimary real estate added totals over 4M.
Haven't made any draws to the 401K yet, but I will be to backdoor Roth IRA this year. Is it wrong to not want to fund the back door, because you hate to see the big guy drop in value? The stupid things we think once we have real money.
My last ever day with my company is March 22. I should have been gone May 2023, but managed to only work about 50 percent of the time since then and never missed a full paycheck. I got out at 55. Now I'm a full time hiker and bicyclist. My wife will be a full time basketball fan.

Our balance can fluctuate wildly, mostly because I trade high risk stocks ( mostly biotech ) with my brokerage account that started out as "fun money"...but certainly is much more than that now.  In fact, after being above 4M for a while this year, we are slightly under now.  Stock trading isn't for everyone, and due to wall St. manipulation you have to have "balls of steel" to be in some of these stocks.  However, it has paid off handsomely over the years and has been a very nice side gig, and I find it to be a fun "hobby" in a weird sort of way.

All of our other non "fun money" accounts, retirement accounts, etc... are in sensible "bogleheads" types of investments.