Author Topic: Get to 1 Million in Net worth  (Read 125810 times)

zinethstache

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Re: Get to 1 Million in Net worth
« Reply #250 on: April 26, 2016, 09:02:41 AM »
We are at 1.2m BUT in prep for RE for me (DH is already FIREd) we are selling our house - I've also shut down and sold equipment for my business and need to remove those assets. I believe we will still be over by a hair. However our housing market is hot right now and I am using conservative numbers to calculate our net from the home sale so hopefully I won't have to come post here that I am no longer over 1m. /fingers crossed.

Pooperman

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Re: Get to 1 Million in Net worth
« Reply #251 on: May 16, 2016, 07:00:40 AM »
9.05% of the way there LOL, oi its gonna be a long long roadddd

6.5%

The halfway point to a million is about $330k due to exponential and contributions.

2Birds1Stone

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Re: Get to 1 Million in Net worth
« Reply #252 on: May 16, 2016, 07:09:54 AM »
9.05% of the way there LOL, oi its gonna be a long long roadddd

6.5%

The halfway point to a million is about $330k due to exponential and contributions.

Very cool!! Is that assuming 7% returns? I know the market *averages* something along those lines over the long term. My road to a million should take ~8-10 years which is too short term to count on market returns, especially after the bull run we have just experienced.

That being said I'll be at ~20.4% by the end of the month.

Pooperman

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Re: Get to 1 Million in Net worth
« Reply #253 on: May 16, 2016, 07:18:54 AM »
9.05% of the way there LOL, oi its gonna be a long long roadddd

6.5%

The halfway point to a million is about $330k due to exponential and contributions.

Very cool!! Is that assuming 7% returns? I know the market *averages* something along those lines over the long term. My road to a million should take ~8-10 years which is too short term to count on market returns, especially after the bull run we have just experienced.

That being said I'll be at ~20.4% by the end of the month.

That assumes the same return and the same contribution. It's close to -log(0.5)*$1 million (the optimum middle point assuming continuous contribution and compounding), which is kinda what you'd expect. It's higher than $301k because it's less efficient, basically, when you contribute monthly.

2Birds1Stone

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Re: Get to 1 Million in Net worth
« Reply #254 on: May 16, 2016, 07:21:45 AM »
9.05% of the way there LOL, oi its gonna be a long long roadddd

6.5%

The halfway point to a million is about $330k due to exponential and contributions.

Very cool!! Is that assuming 7% returns? I know the market *averages* something along those lines over the long term. My road to a million should take ~8-10 years which is too short term to count on market returns, especially after the bull run we have just experienced.

That being said I'll be at ~20.4% by the end of the month.

That assumes the same return and the same contribution. It's close to -log(0.5)*$1 million (the optimum middle point assuming continuous contribution and compounding), which is kinda what you'd expect. It's higher than $301k because it's less efficient, basically, when you contribute monthly.

Wow!! That's very cool. If I count SO's numbers together with mine, we should get to that $330k mark by the end of 2017.

Dicey

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Re: Get to 1 Million in Net worth
« Reply #255 on: May 18, 2016, 01:39:07 PM »
A large sum of invested money takes on a life of its own.  It has an occupation.  It wakes up everyday and goes to work.  It earns a living.  It is a producer.
Oh, oh, oh,  I love this! Better my money than my actual self going to work every day.

RetirementDreaming

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Re: Get to 1 Million in Net worth
« Reply #256 on: May 19, 2016, 04:20:04 PM »
Technically I guess we hit 1M NW on 4/26/16 by including home equity. For FIRE purposes I only track investable assets.  Not quite there yet.

Goal: 1M in investable assets
1/30/16: 810k
2/29/16: 811k
3/31/16: 883k
4/30/16: 895k
6/30/16: 916k


« Last Edit: July 12, 2016, 12:46:37 PM by RetirementDreaming »

Cornbread OMalley

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Re: Get to 1 Million in Net worth
« Reply #257 on: June 01, 2016, 11:43:50 PM »
I made it to $1 million in net worth on June 1st, 2016.  I barely made it over the threshold: $1,000,097.73.  I expect this amount will fluctuate greatly with the ebbs and flows of the market, and it will be awhile before it stays consistently above seven digits.  I invested my first dollar on September 1, 1999 so it took me about 16.8 years to touch the 7-digit mark through various savings rates.  I am happy that I made it to two commas, but the journey continues.

Roots&Wings

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Re: Get to 1 Million in Net worth
« Reply #258 on: June 02, 2016, 06:46:48 AM »
^ Woohoo!!! Congrats on the huge milestone Cornbread :)

Workinghard

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Re: Get to 1 Million in Net worth
« Reply #259 on: June 03, 2016, 08:29:35 PM »
I made it to $1 million in net worth on June 1st, 2016.  I barely made it over the threshold: $1,000,097.73.  I expect this amount will fluctuate greatly with the ebbs and flows of the market, and it will be awhile before it stays consistently above seven digits.  I invested my first dollar on September 1, 1999 so it took me about 16.8 years to touch the 7-digit mark through various savings rates.  I am happy that I made it to two commas, but the journey continues.


WTG! We got lucky when we hit 1M. Market was going up so we never dipped below. A little over a year later, it's still hard to believe.

RNwastash

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Re: Get to 1 Million in Net worth
« Reply #260 on: June 03, 2016, 09:19:12 PM »
Done.

2Birds1Stone

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Re: Get to 1 Million in Net worth
« Reply #261 on: June 04, 2016, 04:41:41 AM »
21% of the way there as of yesterday :)

Roots&Wings

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Re: Get to 1 Million in Net worth
« Reply #262 on: June 04, 2016, 07:49:36 AM »
Done.

Nice.

:) Hearing how other's have achieved this is inspiring!

Cornbread OMalley

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Re: Get to 1 Million in Net worth
« Reply #263 on: June 04, 2016, 11:49:30 AM »
WTG! We got lucky when we hit 1M. Market was going up so we never dipped below. A little over a year later, it's still hard to believe.

^ Woohoo!!! Congrats on the huge milestone Cornbread :)
Thanks, guys!

Done.
Good work!

brooklynmoney

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Re: Get to 1 Million in Net worth
« Reply #264 on: June 16, 2016, 04:28:41 AM »
I made it to $1 million in net worth on June 1st, 2016.  I barely made it over the threshold: $1,000,097.73.  I expect this amount will fluctuate greatly with the ebbs and flows of the market, and it will be awhile before it stays consistently above seven digits.  I invested my first dollar on September 1, 1999 so it took me about 16.8 years to touch the 7-digit mark through various savings rates.  I am happy that I made it to two commas, but the journey continues.

Congrats!!!!

Cornbread OMalley

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Re: Get to 1 Million in Net worth
« Reply #265 on: June 16, 2016, 05:41:52 AM »
Congrats!!!!
Thanks, brooklynmoney!  You be there yourself pretty soon, right?

brooklynmoney

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Re: Get to 1 Million in Net worth
« Reply #266 on: June 17, 2016, 09:44:40 PM »
It's like 1 step forward 1 back. I was about to crack 900 and now stupid Brexit jitters pushed me back. But yes someday soon hopefully!

Bateaux

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Re: Get to 1 Million in Net worth
« Reply #267 on: June 18, 2016, 01:40:58 PM »
Stay at it.  Once you get a little past 1M it smooths out a bit. You'll watch your account drop 50K in a week and not even sweat it.  Stay the course.  Stay in good investments and it rolls higher and higher with patience. Many months you'll watch your account earnings well outpace your paycheck earnings.   

webguy

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Re: Get to 1 Million in Net worth
« Reply #268 on: July 01, 2016, 10:42:11 PM »
I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

I made it to $748k! Keep saving everybody!!

I made it to $988k and was getting excited... and then taxes hit! Looks like it'll be another few months yet :(

I finally did it!! Crawled over the line to $1,000,330 today!  Feels pretty surreal. Never thought I'd actually be worth a million dollars. Now I guess I keep on saving towards the next million!

arebelspy

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Re: Get to 1 Million in Net worth
« Reply #269 on: July 01, 2016, 11:06:34 PM »
540k to 1MM in a year and two months is phenomenal!  Congrats!
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Roots&Wings

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Re: Get to 1 Million in Net worth
« Reply #270 on: July 02, 2016, 07:14:16 AM »
That is incredible webguy, way to go!!!

MickeyMoustache

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Re: Get to 1 Million in Net worth
« Reply #271 on: July 02, 2016, 08:06:39 AM »
I'm here to start working to the next milestone, $1MM NW!  Continuing my tracking from the last challenge thread:

jan - $415k stash // $590k NW
feb - $428k stash // $598k NW
mar - $445k stash // $620k NW
apr - $490k stash // $675k NW
may - $503k stash // $687k NW
jun - $521k stash // $703k NW

<$300k to go!

webguy

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Re: Get to 1 Million in Net worth
« Reply #272 on: July 07, 2016, 07:27:44 PM »
Thanks guys! I appreciate the encouragement!

Congrats, webguy!  Have you thought about starting a journal?  I enjoyed reading your story back in 2014 and it would be fun to see some of the details of what happened between then and now.

I've never thought about starting one, mainly as I'd probably never find the time to actually update it. Plus there isn't really much to tell. I just started a business and worked my bum off to grow it as much as possible and then socked all the money away.

SparkyPeanut

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Re: Get to 1 Million in Net worth
« Reply #273 on: July 08, 2016, 08:41:55 PM »
Congratu;ations to you Webguy! What have you been investing in this last year to get from approx. 500K to $1M?

webguy

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Re: Get to 1 Million in Net worth
« Reply #274 on: July 11, 2016, 11:40:37 AM »
Nothing fancy. Just index funds. My asset allocation is roughly:

40% US stocks (VTSAX), 30% International stocks (VXUS + VWO), 20% Bonds/Cash (BND), 10% REITS (VNQ).

I just worked hard to decrease my expenses and increase my income which has really helped to accelerate things the last year or two. I focused a lot on increasing income as that really has limitless potential.

FrugalFan

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Re: Get to 1 Million in Net worth
« Reply #275 on: July 12, 2016, 10:48:31 AM »
I made it to $1 million in net worth on June 1st, 2016.  I barely made it over the threshold: $1,000,097.73.  I expect this amount will fluctuate greatly with the ebbs and flows of the market, and it will be awhile before it stays consistently above seven digits.  I invested my first dollar on September 1, 1999 so it took me about 16.8 years to touch the 7-digit mark through various savings rates.  I am happy that I made it to two commas, but the journey continues.

Congrats!!!

FrugalFan

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Re: Get to 1 Million in Net worth
« Reply #276 on: July 12, 2016, 10:49:19 AM »
I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

I made it to $748k! Keep saving everybody!!

I made it to $988k and was getting excited... and then taxes hit! Looks like it'll be another few months yet :(

I finally did it!! Crawled over the line to $1,000,330 today!  Feels pretty surreal. Never thought I'd actually be worth a million dollars. Now I guess I keep on saving towards the next million!

Congrats! If only all of us could get there that fast!
« Last Edit: July 13, 2016, 06:59:03 AM by Travelling Biologist »

Goldy

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Re: Get to 1 Million in Net worth
« Reply #277 on: July 13, 2016, 06:57:49 AM »
Nailed It!

Checked today and it looks like we have crested the 1M mark by $151!  We are in the process of selling our house and it looks like I have underestimated my houses value by about 40k so hopefully with that extra equity we won't see saw over the threshold.  Next goal is 1M in investments by this time next year.

Well thanks to the nice uptick in the market and pouring a lot of house sale equity into investments I have beaten my estimate and crossed the 1M invested milestone yesterday.  NW currently stands at 1.12, amazing how fast that can increase!  I'm going to need to come up with a new goal.

FrugalFan

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Re: Get to 1 Million in Net worth
« Reply #278 on: July 13, 2016, 07:01:16 AM »
Wow, congrats! We have quite a bit of our NW in equity so it will take 3-4 years to go from 1 M net worth to 1 M invested. Hoping to reach the first milestone by October.

Cornbread OMalley

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Re: Get to 1 Million in Net worth
« Reply #279 on: July 13, 2016, 07:23:41 AM »
Good job, everybody!

marty998

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Re: Get to 1 Million in Net worth
« Reply #280 on: July 14, 2016, 03:32:59 PM »
Think I've made the point before but it's getting harder for me to measure this with realestate valuations basically being in a $30,000 range per property.

Conservatively I'm at $795,000 but a bullish assessment would be for $870,000.

In December 2012 I posted somewhere on the forum that I was at $295,000.... Crazy that ~$500k has been added in 3 and a half years :O

onlykelsey

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Re: Get to 1 Million in Net worth
« Reply #281 on: July 14, 2016, 03:47:30 PM »
Think I've made the point before but it's getting harder for me to measure this with realestate valuations basically being in a $30,000 range per property.

Conservatively I'm at $795,000 but a bullish assessment would be for $870,000.

In December 2012 I posted somewhere on the forum that I was at $295,000.... Crazy that ~$500k has been added in 3 and a half years :O

That's awesome.  I hope I get that sort of growth.  The only real estate I have is my apartment in Manhattan.  Ironically, Brexit may have helped my property value. 

marty998

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Re: Get to 1 Million in Net worth
« Reply #282 on: July 14, 2016, 03:52:52 PM »
Think I've made the point before but it's getting harder for me to measure this with realestate valuations basically being in a $30,000 range per property.

Conservatively I'm at $795,000 but a bullish assessment would be for $870,000.

In December 2012 I posted somewhere on the forum that I was at $295,000.... Crazy that ~$500k has been added in 3 and a half years :O

That's awesome.  I hope I get that sort of growth.  The only real estate I have is my apartment in Manhattan.  Ironically, Brexit may have helped my property value. 

Ohh I would love a Manhattan apartment! Now I'm jealous... will be daydreaming about this for the rest of the day.

onlykelsey

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Re: Get to 1 Million in Net worth
« Reply #283 on: July 14, 2016, 03:55:12 PM »
Think I've made the point before but it's getting harder for me to measure this with realestate valuations basically being in a $30,000 range per property.

Conservatively I'm at $795,000 but a bullish assessment would be for $870,000.

In December 2012 I posted somewhere on the forum that I was at $295,000.... Crazy that ~$500k has been added in 3 and a half years :O

That's awesome.  I hope I get that sort of growth.  The only real estate I have is my apartment in Manhattan.  Ironically, Brexit may have helped my property value. 

Ohh I would love a Manhattan apartment! Now I'm jealous... will be daydreaming about this for the rest of the day.

Haha, it's a small 100-year-old walk up, not a penthouse.  It does have exposed brick, which makes feel like I'm living in a movie, a little bit.

Cornbread OMalley

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Re: Get to 1 Million in Net worth
« Reply #284 on: July 15, 2016, 02:08:32 PM »
We have quite a bit of our NW in equity so it will take 3-4 years to go from 1 M net worth to 1 M invested. Hoping to reach the first milestone by October.
You just counting your principal?

HAPPYINAZ

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Re: Get to 1 Million in Net worth
« Reply #285 on: July 20, 2016, 02:58:03 PM »
Including our house (134k), we crossed 1 MM on June 12 with savings/investments and house adding up to 1,002,686.66..an
exciting day, but can't wait until get 1MM in investments without counting the house.  If stock market keeps roaring upward, might hit that this fall, but more likely will be sometime next year.

Goldy

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Re: Get to 1 Million in Net worth
« Reply #286 on: July 20, 2016, 04:20:46 PM »
Including our house (134k), we crossed 1 MM on June 12 with savings/investments and house adding up to 1,002,686.66..an
exciting day, but can't wait until get 1MM in investments without counting the house.  If stock market keeps roaring upward, might hit that this fall, but more likely will be sometime next year.

Congrats!  Are you doing anything to celebrate?

HAPPYINAZ

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Re: Get to 1 Million in Net worth
« Reply #287 on: July 24, 2016, 06:22:37 PM »
Including our house (134k), we crossed 1 MM on June 12 with savings/investments and house adding up to 1,002,686.66..an
exciting day, but can't wait until get 1MM in investments without counting the house.  If stock market keeps roaring upward, might hit that this fall, but more likely will be sometime next year.

Congrats!  Are you doing anything to celebrate?

Thanks!

No, not really.  I mentioned it to my husband (who doesn't track our finances) and he seemed pleased. And I think we might have grilled some discounted steaks that night to celebrate. And had some nice homebrew that he makes.  Nothing too elaborate for celebrating, but we were still happy about it! :)

FrugalFan

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Re: Get to 1 Million in Net worth
« Reply #288 on: July 29, 2016, 07:01:08 AM »
Including our house (134k), we crossed 1 MM on June 12 with savings/investments and house adding up to 1,002,686.66..an
exciting day, but can't wait until get 1MM in investments without counting the house.  If stock market keeps roaring upward, might hit that this fall, but more likely will be sometime next year.

Congrats!!!

FrugalFan

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Re: Get to 1 Million in Net worth
« Reply #289 on: July 29, 2016, 07:02:21 AM »
Hooray, we made it with today's paycheck deposits! About 3 months earlier than expected due to some nice market gains. 

We have quite a bit of our NW in equity so it will take 3-4 years to go from 1 M net worth to 1 M invested. Hoping to reach the first milestone by October.
You just counting your principal?

Yes, mortgage principal on primary residence and rental, as well as some cash, and our two cars. Still, it is pretty exciting to reach this milestone! It's something I've been thinking about for 6 years.

FLBiker

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Re: Get to 1 Million in Net worth
« Reply #290 on: July 29, 2016, 01:51:05 PM »
We hit $500K today (counting just investments), which I thought was halfway until I read this thread. :)

The halfway point to a million is about $330k due to exponential and contributions.

We probably have about $75K or so in home equity.


Pooperman

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Re: Get to 1 Million in Net worth
« Reply #291 on: July 29, 2016, 02:10:29 PM »
We hit $500K today (counting just investments), which I thought was halfway until I read this thread. :)

The halfway point to a million is about $330k due to exponential and contributions.

We probably have about $75K or so in home equity.

The halfway point (time wise) is anywhere between $300k and $500k depending on contributions and interest rates. -ln(0.5) is roughly 0.3.

frugledoc

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Re: Get to 1 Million in Net worth
« Reply #292 on: July 29, 2016, 03:30:56 PM »
My end of month net worth today was 691,304 invested. Not including defined benefit pension which is valued at approx 275,000

Converting from pounds to dollars at today's rate of 1.32 puts me at $912,521 so I'm closing in on 1 mil dollars.

Am I allowed to join in?

NorCal

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Re: Get to 1 Million in Net worth
« Reply #293 on: July 29, 2016, 09:08:50 PM »
Awesome thread.  There's some great savers here.

I'm in on the challenge, but it's not a stretch.

NW as of today: $990,706
Savings Rate: ~$12K/mo

I'll be there in ~32 days as long as the market doesn't do anything silly.

For those working up to it, it really does get easier the more you get.  Eliminating any payments that eat into cash flow just speeds up the process.  Gains build on gains.

Workinghard

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Re: Get to 1 Million in Net worth
« Reply #294 on: July 30, 2016, 03:47:31 AM »
The funny part is that things don't change much even after you get there. I still shop at WM and Save a Lot. It doesn't bother me as much though to splurge on something at a grocery store (once in awhile) or my spouse wasting money on a magazine he could get at a library.

mathjak107

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Re: Get to 1 Million in Net worth
« Reply #295 on: July 30, 2016, 08:09:12 AM »
I REALLY do not understand why people say our country is broken and that there is no opportunity.

Well the opportunity takes work (see: Edison overalls quote).  What they really mean is nobody is handing everything to them.

Or, they mean, other people are getting everything handed to them.  The latter I think is a more valid complaint.

Well, both.  Some people have everything handed to them, but no one is handing everything to them.  So they say "there's no opportunity."

Everyone in the US has opportunity. Due to inherent and systemic biases and injustices, some have a much tougher road to success, but all have a road.

i always say  , those who want to succeed will find a way , the rest will find an excuse .

MickeyMoustache

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Re: Get to 1 Million in Net worth
« Reply #296 on: July 31, 2016, 03:09:16 PM »
jan - $415k stash // $590k NW
feb - $428k stash // $598k NW
mar - $445k stash // $620k NW
apr - $490k stash // $675k NW
may - $503k stash // $687k NW
jun - $521k stash // $703k NW
jul - $491k stash // $717k NW

Bought a house, waiting to sell the other and will be expecting a $20k drop next month from closing costs.  Some of my cash went into the down payment so stash dropped significantly as well, but NW is still up!

brooklynmoney

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Re: Get to 1 Million in Net worth
« Reply #297 on: August 01, 2016, 09:02:52 PM »
Market post-Brexit has been good. I bought some VTI during Brexit that's been helpful. Only 5 figures to go. With luck by end of year but more realistically next spring. I'm only counting liquid assets. So excludes my home equity as well as my mortgage debt.

Bateaux

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Re: Get to 1 Million in Net worth
« Reply #298 on: August 08, 2016, 08:33:21 AM »
This year is the first time we've had over 1 million invested.  While my monthly contributions moved the portfolio forward, the rising market this year has made an incredible difference.  You must make sacrifice and collect savings to get here and it takes time.  Once here however, I can see our account move up in a day what it took an entire year to save when first starting out.  The power a million dollar or more portfolio has to grow itself is mind blowing.  With our NW rapidly approaching the second million FIRE is any day we choose.  It is amazingly easy to go to work with that state of mind.  It's that FU-MONEY state of mind. 

Cornbread OMalley

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Re: Get to 1 Million in Net worth
« Reply #299 on: August 08, 2016, 10:13:22 AM »
It's that FU-MONEY state of mind.
Is that a song by Billy Joel?

This year is the first time we've had over 1 million invested.  While my monthly contributions moved the portfolio forward, the rising market this year has made an incredible difference.  You must make sacrifice and collect savings to get here and it takes time.
+1.  I am working towards the $1-million-invested mark too.  I have about $30K $40K more to go to get there.

ETA:  Forgot I had $10K in cash in reserve.  So $40K to go to get to $1 mil mark investments.
« Last Edit: August 08, 2016, 12:04:00 PM by Cornbread OMalley »