Author Topic: Get to 1 Million in Net worth (Read 138218 times)

sobezen · « **Reply #300 on:** August 09, 2016, 12:28:25 PM »

Quote from: sobezen on June 25, 2015, 12:22:20 AM

It is good to set a target goal. According to my calculations I'm on track to reach this milestone before the end of next year. No debts, mainly appreciating assets. Working hard to expand income streams to improve my earning potential.

Small milestone achieved. Now onward and upward to exploring new adventures. Keep on saving everyone. Cheers!

thriftyc · « **Reply #301 on:** September 03, 2016, 06:35:27 AM »

Broke 1 million NW last year - now working toward 1 million invested assts plus the paid for house. May do that through semi retirement PT jobs - or mini retirements. Each passing month is another month that adds even more financial security - creating more peace of mind as time passes as the FU money builds upon itself.

BTDretire · « **Reply #302 on:** September 07, 2016, 01:43:58 PM »

Quote from: NorCal 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'm right there with at a monthly NW increase of $12,516 over the last
69 months. 1-1-11 to 8-28-16. About $4,000 a month from saving of income,
the rest from stock market growth.

Quote

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.

Man do they ever!!
Well, as long as the stock market climbs.

RetirementDreaming · « **Reply #303 on:** October 03, 2016, 12:54:24 PM »

I was really hoping to end Sept at $1M. We started Sept at 992k and it looked promising. Closing the month at 990k. Maybe October will be the month...

mobyrocket · « **Reply #304 on:** October 03, 2016, 01:15:01 PM »

We finally made it with a little cushion. Next stop 1 million in investments not counting equity in primary residence. Estimate we achieve that by end of next year. Thanks to the mmm community for ideas, confidence, and encouragement.

LateToTheParty · « **Reply #305 on:** October 04, 2016, 05:59:01 AM »

Joining. Currently at $830,222 net worth, $524,836 in investments. Ultimate goal for FI is $1M in investments. Will likely work beyond reaching that goal (golden handcuffs for 11 additional years), but having FU options will be priceless.

FrugalFan · « **Reply #306 on:** October 04, 2016, 07:51:56 AM »

Congrats KS and mobyrocket! So close, Retirement Dreaming! And welcome LateToTheParty and Libertea.

Libertea · « **Reply #307 on:** October 04, 2016, 07:45:06 PM »

Thanks.

Just went back and read through this entire thread, and wanted to say to those who feel disheartened by market ups and downs: definitely stop checking your accounts so often. I check once per quarter because that's when I rebalance (mostly with new contributions and with dividends). Otherwise? I like to watch for a dip like Brexit because then I contribute the rest of my taxable allocation for that year. But taxable is the only account that I check more frequently than than once per quarter, and I don't update my NW during those random checks. Since I want to buy low, I actually LIKE seeing a market dip. I made money this year buying extra international funds after the Brexit dip, and I hope I will have a similar opportunity in 2017.

Caveat: I do sometimes sneak a peak at my Roth just for fun in between quarterly updates also, since all of my high risk, high reward funds are located there.

iluvzbeach · « **Reply #308 on:** October 04, 2016, 10:35:21 PM »

987K as of 9/30. Very much looking forward to the second comma.

oldtoyota · « **Reply #309 on:** October 28, 2016, 01:33:05 PM »

Quote from: iluvzbeach on October 04, 2016, 10:35:21 PM

987K as of 9/30. Very much looking forward to the second comma.

Nice work! =-)

RetirementDreaming · « **Reply #310 on:** November 01, 2016, 10:54:21 AM »

Quote from: RetirementDreaming on October 03, 2016, 12:54:24 PM

I was really hoping to end Sept at $1M. We started Sept at 992k and it looked promising. Closing the month at 990k. Maybe October will be the month...

Well, October wasn't the month. Ended at $975K. Fingers crossed for November....

RetirementDreaming · « **Reply #311 on:** November 17, 2016, 01:09:24 PM »

Finally, hit $1M investable assets! 11/16.

iluvzbeach · « **Reply #312 on:** November 17, 2016, 04:54:32 PM »

Congratulations!!! I haven't updated our tracking since 9/30, perhaps after this nice lift in the market over the past week I should do it now, rather than wait.

Roots&Wings · « **Reply #313 on:** November 18, 2016, 06:44:32 AM »

Congrats RetirementDreaming! Way to go!!!

iluvzbeach, bet you are there too (I'm up nearly $25k since Sept and have a portfolio about half your size :)

brooklynmoney · « **Reply #314 on:** November 21, 2016, 05:41:38 AM »

Congrats RetirementDreaming. This last bit is excrutiatingly slow. I'm at $960k. Just keep bouncing up and then down despite saving a good bit each month. Oh well will happen. Eventually.

Cornbread OMalley · « **Reply #315 on:** November 21, 2016, 06:22:39 PM »

Congrats, RetirementDreaming!

golfreak12 · « **Reply #316 on:** December 08, 2016, 08:52:11 AM »

For people that are posting their NW growth chart, if you don't mind, could you post your yearly income ??
I see people's NW jumping $20K-$50K each month and I wonder they are either making a shitload of money or is that investment......

For myself, We'll sitting at ~$650K but half of that NW sits in 2 houses and not earning us much.
I make around $120K/yr and I can save around $5K each month as my wife is finishing school.
I'd imagine I can reach $1 mil in 5 years if I keep making what I'm making but I'm burned out a bit.
Wife graduating in 2 yrs is gonna help out our finanace quite a bit.

golfreak12 · « **Reply #317 on:** December 08, 2016, 09:23:41 AM »

Quote from: arebelspy on October 28, 2014, 01:40:57 PM

Quote from: Tetsuya Hondo on October 28, 2014, 01:28:21 PM
Marine - I know exactly what you mean about getting to zero. Arebelspy, you are completely overthinking his post. I mean that with no disrespect because I enjoy your posts, but you sound a little Vulcun-ish.

But getting to zero was a complete bitch. Coming out of grad school, I had a mountain in school loans and credit card debt. It seemed impossible, if not hopeless. But, after years of grinding it out, I found that once the debt was gone, the savings have quickly snowballed.

I'm in for this challenge and plan to be there in five years.

That's fine, we can have different opinions.

I just think getting to 1MM is way harder than getting to 0, and I think the fact that way more people get to 0 than get to 1MM is proof.

If you said 0 vs 100k, maybe. But most people focusing on debt can be done in a few short years. Those same people, then focusing on 1MM, take way longer.

/shrug

I actually agree with Arebelspy here.
After college, I was in debt for about $25k. I didn't have a job and life was depressing. When I did get a job, I was feeling like wasting money paying this debt down so I thought about filing bankruptcy. This one co-worker said something to me I'd never forget when I told him this. He told me bankruptcy is like stealing when you have the ability to pay it back.
I dug down and was debt free in 2 yrs. Yeah it was hard but nothing like trying to get to $1 mil. I'm working my butt off here to save money. It'll take me 15 yrs +++ to get there.
I see where others are coming from though. Getting to $1 mil is like a walk through the park because its seems more relaxing. You're living well, taking vacations, etc....Where getting to 0 is like walking through the hood. You're struggling just to get to ZERO. But in the overall scheme of things, getting to $1 mil takes a lot more work and time.

[Mod Edit: Quote Tags.]

Carrie · « **Reply #318 on:** December 30, 2016, 01:11:33 PM »

Quote from: Carrie on October 07, 2014, 01:23:44 PM

My goal is 1m also. I'd like $250k in home equity and the remainder in liquid investments. So far we're at $160k in home equity and roughly $400k in retirement, cash, college funds. Paid off home plus another $350-$400k in investments should get us there, aiming for 7 years.

Update (2 yrs later)

$240k in home equity (house paid off this month)
$445k in college/retirement investments ($395k retirement, $50k college, three kids)
$56k in cash
Total $741k
Need another quarter of a million in retirement investments to meet our goal. Currently contributing about $32k/yr to 401k & Roths and $5400 to college.
We're slowly getting there!

Cornbread OMalley · « **Reply #319 on:** December 30, 2016, 03:21:14 PM »

Quote from: golfreak12 on December 08, 2016, 08:52:11 AM

For people that are posting their NW growth chart, if you don't mind, could you post your yearly income ??
I see people's NW jumping $20K-$50K each month and I wonder they are either making a shitload of money or is that investment......

My current salary is $99K a year. I started out after college in 1999 making $28K a year.

Libertea · « **Reply #320 on:** December 31, 2016, 07:25:04 AM »

My padded FI goal is to save $800,000 in 2015 dollars, which means I will need $1 million starting in 2022 (assuming 3.5% inflation).

Here's my progress so far:

06/30/2015: $235,381.93
09/30/2015: $261,677.00
12/31/2015: $320,374.69 (goal of $800,000)
03/31/2016: $364,966.71
06/30/2016: $412,580.03
09/30/2016: $468,895.06
12/31/2016: $525,049.59 (goal of $828,000)

This is all invested assets; I don't own any real estate or have any debt. Will also be slowing down my accumulation after this quarter since I'm quitting my job and taking another that is much lower-paying. Anticipate reaching $600,000 at the end of 2017.

brooklynmoney · « **Reply #321 on:** January 01, 2017, 10:52:49 AM »

I made it! Over 1 million liquid (not counting my apartment value). I'm proud because I did it on my own (I'm a single lady) although of course not really on my own, because everyone has help and guidance along the way. My mom endowed me with her frugal ways and always encouraged me to strive for more in my career, and I worked with a great financial advisor (also a single lady) to develop an investment plan and of course the MMM forums keep me motivated and on track. Now I'd really like to find a way to help other women earn their financial freedom as well (not that I'm FI or RE yet, but well on my way).

FrugalFan · « **Reply #322 on:** January 01, 2017, 11:36:08 AM »

Congratulations, brooklynmoney! 1 Million liquid is a huge milestone, especially for one person to accumulate. You rock!!! I love your idea of trying to find a way to help others achieve financial freedom.

Cornbread OMalley · « **Reply #323 on:** January 01, 2017, 04:29:02 PM »

Quote from: brooklynmoney on January 01, 2017, 10:52:49 AM

I made it! Over 1 million liquid...

Congratulations, brooklynmoney! What a great way to start the new year!

brooklynmoney · « **Reply #324 on:** January 01, 2017, 06:25:30 PM »

Thanks Cornbread & Travelling. These forums are such a huge help. Cornbread, I know you also recently checked off the same box so congrats again!!! It will be interesting to see how fast the stache grows from here. Race you to 1.5?

marty998 · « **Reply #325 on:** January 01, 2017, 06:34:13 PM »

Quote from: brooklynmoney on January 01, 2017, 10:52:49 AM

I made it! Over 1 million liquid (not counting my apartment value). I'm proud because I did it on my own (I'm a single lady) although of course not really on my own, because everyone has help and guidance along the way. My mom endowed me with her frugal ways and always encouraged me to strive for more in my career, and I worked with a great financial advisor (also a single lady) to develop an investment plan and of course the MMM forums keep me motivated and on track. Now I'd really like to find a way to help other women earn their financial freedom as well (not that I'm FI or RE yet, but well on my way).

Congratulations, well done :)

Cornbread OMalley · « **Reply #326 on:** January 01, 2017, 07:12:24 PM »

Quote from: brooklynmoney on January 01, 2017, 06:25:30 PM

Cornbread, I know you also recently checked off the same box so congrats again!!! It will be interesting to see how fast the stache grows from here. Race you to 1.5?

Yes! This will be a fun race! I found the thread for the race to $2MM; we can go join that thread. It's really true how fast the stash grows after one reaches the seven-digit mark.

http://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$1m-to-$2m/

ETA: The link I posted is broken at the end for some reason so clicking on it won't get you to the thread. But good thing is the thread is easy to find. See you there!

MOD EDIT: Fixed link. The dollar sign breaks the auto linking, so you just need URL tags. Hit quote on this post to see what I mean. :) /END EDIT

jengod · « **Reply #327 on:** January 01, 2017, 08:07:59 PM »

Following.

LateToTheParty · « **Reply #328 on:** January 02, 2017, 07:03:34 AM »

Congrats allsummerlong and brooklynmoney!

Will plan to review/update my stats quarterly for accountability

-------------------

Goal #1 $1M Net Worth by end of 2017
Goal #2 1M in Investments by end of 2021
Goal # 3 paid off mortgage 2024

1/1/2017 $848,000 net worth
Investments + cash $581,000
Home Equity $267,000

10/4/2016 $801,636 net worth (*removed paid off car values which were included previously)
Investments + cash $544,836
Home Equity $256,800

Happy New Year!

Roots&Wings · « **Reply #329 on:** January 02, 2017, 07:44:02 AM »

Awesome way to start the New Year! Way to go brooklynmoney and allsummerlong!!!

Cornbread OMalley · « **Reply #330 on:** January 02, 2017, 08:12:30 AM »

Quote from: Cornbread OMalley on January 01, 2017, 07:12:24 PM

http://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$1m-to-$2m/

ETA: The link I posted is broken at the end for some reason so clicking on it won't get you to the thread. But good thing is the thread is easy to find. See you there!

MOD EDIT: Fixed link. The dollar sign breaks the auto linking, so you just need URL tags. Hit quote on this post to see what I mean. :) /END EDIT

Sweet! Thanks!

catccc · « **Reply #331 on:** January 09, 2017, 12:49:57 PM »

NW ended for 2016 at $712K.

Previously broke $600K in April 2015. And again in October 2015. And again in March 2016. That was a rollercoaster.

Feeling confident right now, hope it doesn't go to my head too badly.

Aiming for $815K by the end of 2017, and $945K by the end of 2018, and $1M by the middle of 2019. I turn 40 in August 2019 and hope to hit $1M before that!

marty998 · « **Reply #332 on:** January 09, 2017, 01:12:50 PM »

I've got about $100k to go now.

Starting to notice the ticker moving by substantial amounts up and down each day.

Keep up the good work everyone!

LateToTheParty · « **Reply #333 on:** March 25, 2017, 08:45:42 AM »

Quarterly check in (slightly early). So motivating to see the numbers move up. This market run up has been awesome.

Goal #1 $1M Net Worth by end of 2017
Goal #2 1M in Investments by end of 2021
Goal # 3 paid off mortgage 2024. FIRE

3/25/2017 $ net worth $903,000
Investments + cash $631,000
Home Equity $272,000

1/1/2017 $848,000 net worth
Investments + cash $581,000
Home Equity $267,000

10/4/2016 $801,636 net worth
Investments + cash $544,836
Home Equity $256,800

talltexan · « **Reply #334 on:** March 31, 2017, 01:16:16 PM »

A lot of energy in here! The recent run-up in the stock market has been good to us...

brooklynmoney · « **Reply #335 on:** April 24, 2017, 08:47:25 PM »

I'm closing in on 1.1 invested. About 4 months after hiring 1. My primary goa is to beat Cornbread haha. JK Cornbread you are ahead.

Cornbread OMalley · « **Reply #336 on:** April 25, 2017, 06:13:06 AM »

Quote from: brooklynmoney on April 24, 2017, 08:47:25 PM

I'm closing in on 1.1 invested. About 4 months after hiring 1. My primary goa is to beat Cornbread haha. JK Cornbread you are ahead.

haha! The race is on! But isn't it amazing how fast your stash grows after it hits seven digits?

BeanCounter · « **Reply #337 on:** April 25, 2017, 06:58:33 AM »

I feel like I'm late to the party on this thread, but we are at $848k invested. Plus another $84k in home equity, 529s, and HRA.
$1m invested is our baseline FI number. Meaning we could RE on that if we need to, but we'd have to make some lifestyle changes. Biggest wildcard is health insurance cost for a family of 4.

talltexan · « **Reply #338 on:** April 25, 2017, 12:16:55 PM »

I just realized that my net worth as reported by Mint doesn't include the Health Savings account balance (which I have invested, of course). So that's like a 2% gain in about 15 minutes!

facepalm · « **Reply #339 on:** April 29, 2017, 10:48:41 AM »

Quote from: talltexan on April 25, 2017, 12:16:55 PM

I just realized that my net worth as reported by Mint doesn't include the Health Savings account balance (which I have invested, of course). So that's like a 2% gain in about 15 minutes!

Those are the best kinds of gains!

MrGreg · « **Reply #340 on:** April 30, 2017, 07:55:18 PM »

Finally broke 1M for the first time several weeks ago. What a journey from late 2013, when I first came across MMM's philosophy and started paying attention to my finances!

brooklynmoney · « **Reply #341 on:** May 01, 2017, 08:58:59 PM »

Congrats Mr. Greg!

talltexan · « **Reply #342 on:** May 02, 2017, 08:44:39 AM »

Congrats! Does that put you close to FIRE?

Cornbread OMalley · « **Reply #343 on:** May 02, 2017, 07:44:29 PM »

Quote from: MrGreg on April 30, 2017, 07:55:18 PM

Finally broke 1M for the first time several weeks ago. What a journey from late 2013, when I first came across MMM's philosophy and started paying attention to my finances!

1MM in four years is really good!

LateToTheParty · « **Reply #344 on:** May 02, 2017, 09:12:14 PM »

Great job! Hope to join you soon.

monarda · « **Reply #345 on:** May 06, 2017, 10:21:15 PM »

Joining this thread a little past the halfway point-
currently May 2017 at $650K not counting equity in primary residence (160K)
December 2017, goal is $700K.

Expecting 1MM late in 2020. Of course I will also have a small celebration when 1MM reached including primary residence, expecting that in June 2019...

BBub · « **Reply #346 on:** May 17, 2017, 04:29:02 PM »

Just graduated from $500k thread (liquid), so now we're off to $1M!

Current standing:
$500k Liquid
$600k Total

Using round figures & not including cars, personal effects, etc. Just investments & home equity. I actually hit $502 yesterday & haven't re-counted after today! But that's where we are, more or less. Planning to stop in around year-end to give another update.

sisto · « **Reply #347 on:** May 23, 2017, 09:13:42 PM »

Checking back in here. I'm still pushing towards this goal. Currently sitting at $840K networth and $640K in investments. I've surpassed the milestone of $1M in assets next goal is hitting it in NW and then on to investments.

talltexan · « **Reply #348 on:** June 02, 2017, 01:08:31 PM »

Just logged into my Roth IRA last night. I cannot believe how that has been increasing (I have it 91% in equities).

BeanCounter · « **Reply #349 on:** June 02, 2017, 01:15:23 PM »

I checked today too and was shocked. Sitting at $897k in investments, cash and HSA account. With the house equity $977k.
If I count the kids 529's we are over $1M, but I've decided I'm not counting them since it's for the kids education. I'm also not really counting the home equity because right now we don't plan on selling the place. So $897K it is.

News:

Author Topic: Get to 1 Million in Net worth (Read 138218 times)