Author Topic: Race from $1M to $2M  (Read 434801 times)

winkleweizen

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Re: Race from $1M to $2M
« Reply #1200 on: June 30, 2020, 04:11:20 PM »
march 2019: 1.04m
july 2019:     1.18m
Oct 2019:     1.24m
Feb 2020:     1.42m
April 2020:    1.23m
May 2020:    1.38m
June 2020: 1.45m
July 2020:    1.507m

brooklynmoney

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Re: Race from $1M to $2M
« Reply #1201 on: July 01, 2020, 05:06:57 AM »
I feel like $2MM will never come! I take one $100k step forward and then one back. Although really I have no cause to complain. I canít believe how the market has recovered and performed in this insane world we now live in. I also just bought my first car ever (ahh!) so thatís a hit but Iím happy. This is the most money Iíve ever spent outside buying my apt. which felt like half investment have consumption purchase. This is just pure consumption.

4tify

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Re: Race from $1M to $2M
« Reply #1202 on: July 01, 2020, 07:32:29 AM »
I feel like $2MM will never come! I take one $100k step forward and then one back. Although really I have no cause to complain. I canít believe how the market has recovered and performed in this insane world we now live in. I also just bought my first car ever (ahh!) so thatís a hit but Iím happy. This is the most money Iíve ever spent outside buying my apt. which felt like half investment have consumption purchase. This is just pure consumption.

I feel the same way, AND I bought my first car 2 years ago. I wanted to see what it was like. Having done it I'm pretty happy, though if I ever did it again I'd get a certified pre-owned. I just looked at what I could get for it now if I sold it and it's basically cost me what a lease would have cost for the past 2 years. So maybe lease next time? I'm planning to drive it for 10 years anyway.

Arbitrage

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Re: Race from $1M to $2M
« Reply #1203 on: July 01, 2020, 08:16:48 AM »
Liquid NW / Total NW

1/1/16: $455k / 675k
1/1/17: $555k / 822k
1/1/18: $735k / 1.071M
1/1/19: $765k / 1.152M
12/1/19: $1.011M / 1.477M
1/1/20: $1.049M / 1.531M
2/1/20: $1.041M / 1.522M
3/1/20: $990k / 1.463M
4/1/20: ~$810k / 1.278M
5/20/20: $950k / 1.428M
6/1/20: $1.009M / 1.493M
7/1/20: $1.042M / 1.524M

Went back and estimated what I had on April 1. 
« Last Edit: July 15, 2020, 06:45:47 PM by Arbitrage »

Blissful Biker

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Re: Race from $1M to $2M
« Reply #1204 on: July 01, 2020, 03:52:46 PM »
(CDN$)        LNW         TWN
2018 YE    $1.13M    $1.66M
1Q2019     $1.26M    $1.77M
2Q2019     $1.26M    $1.77M
3Q2019     $1.33M    $1.84M
4Q2019     $1.38M    $1.90M
1Q2020     $1.18M    $1.75M
2Q2020     $1.40M    $1.95M

It's been a bumpy ride but super happy to see a new peak NW.  I'm glad I rebalanced my portfolio during the dip.  Selling safe bonds and buying risky stocks took courage but it's paid off.   I am not too attached to my NW number at the moment.  Tomorrow's a new day in a strange world and it might drop again.  But that's OK.  I'm in for the long haul.

TempusFugit

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Re: Race from $1M to $2M
« Reply #1205 on: July 01, 2020, 05:08:22 PM »
                 LNW    /  TNW
EOY 2018 - 877K   / 1.02M
EOY 2019 - 1.12M  / 1.275M
EQ1 2020 - 956K   / 1.11M     
EQ2 2020 - 1.14M / 1.3M

Making just a little bit of progress, mostly from contributions so far this year.  Good to be ahead anyway. 

I could look at it as being up a quarter million over the past 18 months.  Yeah, that's how I'll look at it.  That feels much better. 

Freedomin5

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Re: Race from $1M to $2M
« Reply #1206 on: July 01, 2020, 07:58:36 PM »
I could look at it as being up a quarter million over the past 18 months.  Yeah, that's how I'll look at it.  That feels much better.

LOL! Yes, that is how I'm choosing to look at it too. We are up a quarter million over the past 12 months.

brooklynmoney

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Re: Race from $1M to $2M
« Reply #1207 on: July 01, 2020, 09:02:33 PM »
I feel like $2MM will never come! I take one $100k step forward and then one back. Although really I have no cause to complain. I canít believe how the market has recovered and performed in this insane world we now live in. I also just bought my first car ever (ahh!) so thatís a hit but Iím happy. This is the most money Iíve ever spent outside buying my apt. which felt like half investment have consumption purchase. This is just pure consumption.

I feel the same way, AND I bought my first car 2 years ago. I wanted to see what it was like. Having done it I'm pretty happy, though if I ever did it again I'd get a certified pre-owned. I just looked at what I could get for it now if I sold it and it's basically cost me what a lease would have cost for the past 2 years. So maybe lease next time? I'm planning to drive it for 10 years anyway.

Iím nervous about it but did buy a certified pre owned so hope my niece will be able to drive it in 10+ years.

JGS1980

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Re: Race from $1M to $2M
« Reply #1208 on: July 02, 2020, 10:26:00 AM »
Quarterly Update:

July-18     $704,760.25 (+54,904)
Oct-18      $768,090.42 (+63,330)
Jan-19      $761,423.60 (-06,666)
April-19    $865,799.27 (+104,376)
July-19     $930,912.06 (+65,112)
Oct-19     $958,784.74 (+27,872)
Jan-20     $1,094,606 (+135,821)
April-20   $931,456 (-163,150 for the quarter)
July-20    $1,128,599 (+197,143 for the quarter AND for the year Ha!)

JGS

Roboturner

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Re: Race from $1M to $2M
« Reply #1209 on: July 02, 2020, 02:40:26 PM »
Spoiler: show

Q2 2016:
LNW: 528k
TNW: 720k

Q3 2016:
LNW: 652k
TNW: 845k

YE 2016:
LNW: 685k
TNW: 893k

Q1 2017:
LNW: 800k
TNW: 1001k

Q2 2017:
LNW: 845k
TNW: 1060k

Q3 2017:
LNW: 921k
TNW: 1142k

YE 2017:
LNW: 1,012k
TNW: 1,230k

Q1 2018:
LNW: 1.09 MM
TNW: 1.33 MM

Q2 2018:
LNW: 1.16 MM
TNW: 1.45 MM

Q3 2018:
LNW: 1.28 MM
TNW: 1.57 MM

YE 2018:
LNW: 1.14 MM
TNW: 1.43 MM

Q1 2019:
LNW: 1.41 MM
TNW: 1.71 MM

Q2 2019:
LNW: 1.60 MM
TNW: 1.78 MM

Q3 2019:
LNW: 1.64 MM
TNW: 1.82 MM

YE 2019:
LNW: 1.84 MM
TNW: 2.02 MM

Q1 2020:
LNW: 1.60 MM
TNW: 1.79 MM

Q2 2020:
LNW: 1.94 MM
TNW: 2.15 MM

For a brief, shining moment, we had eclipsed $2MM LNW, not to last. However we are close again, so should be soon-ish unless we dump like March again...

Zamboni

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Re: Race from $1M to $2M
« Reply #1210 on: July 03, 2020, 10:03:38 AM »
                      LNW           TNW
Nov 2019     $1.02MM     $1.18MM
Dec 2019     $1.02MM     $1.24MM
Jan 2020      $1.11MM     $1.27MM
Apr 2020      $1.01MM     $1.18MM     & happy to be alive!
July 2020     $1.06MM     $1.23MM     (+$50K)   

Zoot

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Re: Race from $1M to $2M
« Reply #1211 on: July 04, 2020, 02:24:49 PM »
Time for another update!  :)

HISTORY:
Month/YearLiquid AssetsTotal Net Worth
Jan-17
$604K
$883K
Jan-18$836K$1,095K
Jan-19$872K$1,158K

YTD:
Month/YearLiquid AssetsTotal Net Worth
Jan-20$1,122K$1,438K
Feb-20$1,041K$1,360K
Mar-20$   927K$1,235K
Apr-20$1,025K$1,338K
May-20$1,082K$1,392K
Jun-20$1,109K$1,423K

Quite the wild ride in 2020--but we're still plugging away.  I also post in the 2026 cohort thread, as that's the year I turn 59.5 and I've sworn not to work a day past the year I reach that oh-so-important milestone age, but I may not last that long, as I'm getting pretty burned out.  My spreadsheets indicate that we'll be at 25x expenses somewhere in late 2023 or early 2024, though, so we may decide to pull me away from employment earlier than our original date.  DH is 11 years younger and enjoys his work, and while we could live on his salary, we wouldn't be able to save as much as we are while I'm working--so every day I can hang on gets us closer to the day that we can BOTH hang up our hats.

It's funny that in my last post I estimated that we'd reach my mini-goal of $1M + paid off house in about August 2020, and that's still the date we're projecting--but that projected date has been all over the place in the past 6-9 months.  We thought we'd hit it in early 2020, and then February happened, and then March happened, and then everything ELSE happened, and then we refinanced, which threw the amortization tables off again, but if all goes well we should still pass that little milestone next month.

Onward!

zinnie

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Re: Race from $1M to $2M
« Reply #1212 on: July 09, 2020, 05:47:47 PM »
Net worth over time with some history added. I didn't track too well before 2011 but got lucky really with a house I bought in 2010 and sold in 2019 for almost double.

2009:~50k
2010:~150k
2011: 428k
2012: 493k
2013: 563k
2014: 676k
2015: 744k
2016: 896k
2017: ~1M
2018 1.39M
2019: 1.45M
2020: 1.66M

Current liquid 1.38M/ 1.625M
Current NW: 1.66M/ 2M

Iím getting so impatient!!!!!!!!

oldmannickels

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Re: Race from $1M to $2M
« Reply #1213 on: July 15, 2020, 12:10:42 PM »
Broke $500k this month, so joining this thread. Hoping to hit $1M by 2020.

11/30/2017 - $660k
11/30/2018 - $802k
10/30/2019 - $968k
[/quote]

6/30/2020 $1,050

Actually made it in by December, but I think I'm here to stay now. Includes $522 in retirement +HSA, $239 in taxable, $165 in rental R/E and $124 in home equity. I track at the real estate values at cost.

edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?
« Last Edit: July 15, 2020, 12:14:00 PM by oldmannickels »

Watchmaker

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Re: Race from $1M to $2M
« Reply #1214 on: July 15, 2020, 01:25:04 PM »
6/30/2020 $1,050

...

edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?

Congrats! I'm at around 1.2 MM and I haven't felt a desire to invest differently but I'm not quite FI by my plan yet, so that change may come later for me. I think I'm fairly likely to a) keep my risk profile where it is AND b) save an additional buffer beyond my official FI number.

Freedomin5

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Re: Race from $1M to $2M
« Reply #1215 on: July 15, 2020, 05:10:20 PM »
edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?

Not when we hit $1M since we are still in the accumulation phase and are gainfully employed. We may be FIRE-ing in 2-3 years, so I have started reading up on reverse equity glide paths and other ways to slowly move towards capital preservation and reducing SORR.

This plan will need to be fine-tuned as we get closer to our FIRE date, but for right now, we plan to hold 2-3 years expenses in cash/laddered GICs to mitigate SORR, and we may set up something similar to Millenial Revolutionís Yield Shield.
« Last Edit: July 15, 2020, 05:13:16 PM by Freedomin5 »

oldmannickels

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Re: Race from $1M to $2M
« Reply #1216 on: July 16, 2020, 07:55:43 AM »
edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?

Not when we hit $1M since we are still in the accumulation phase and are gainfully employed. We may be FIRE-ing in 2-3 years, so I have started reading up on reverse equity glide paths and other ways to slowly move towards capital preservation and reducing SORR.

This plan will need to be fine-tuned as we get closer to our FIRE date, but for right now, we plan to hold 2-3 years expenses in cash/laddered GICs to mitigate SORR, and we may set up something similar to Millenial Revolutionís Yield Shield.

I've read about the reserve equity glidepath, but I've never read anything about how to factor in rental real estate.

I've always thought about my rental portfolio like my bond allocation, but I don't know if that's really the right way to think about it. For example, we own the rentals outright, rents are $22,500 gross, so conservatively we should be able to clear $10k/year.

Expenses in RE would be $35k, so need to cover $25k out of the $760k remaining portfolio, which is a 3.2% withdraw rate, so for now every new invested dollar I get it just going into equities.

talltexan

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Re: Race from $1M to $2M
« Reply #1217 on: July 16, 2020, 09:35:03 AM »
Broke $500k this month, so joining this thread. Hoping to hit $1M by 2020.

11/30/2017 - $660k
11/30/2018 - $802k
10/30/2019 - $968k

6/30/2020 $1,050

Actually made it in by December, but I think I'm here to stay now. Includes $522 in retirement +HSA, $239 in taxable, $165 in rental R/E and $124 in home equity. I track at the real estate values at cost.

edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?
[/quote]

Once we broke $1 mm I started prioritizing paying down debt. We made a good return on our money (over the long run) by leveraging, but it seemed silly to have that extra stress once we'd passed 2 commas.

zinnie

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Re: Race from $1M to $2M
« Reply #1218 on: July 16, 2020, 03:04:48 PM »
edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?

Both because of getting closer to FIRE and recent market swings, I've upped how much I am contributing to cash accounts. I know I'll feel less panicky if I can wait out swings with a savings account. I used to hold almost none, now I am shooting for at least one year of expenses--maybe two.

Freedomin5

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Re: Race from $1M to $2M
« Reply #1219 on: July 16, 2020, 04:15:11 PM »
edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?

Not when we hit $1M since we are still in the accumulation phase and are gainfully employed. We may be FIRE-ing in 2-3 years, so I have started reading up on reverse equity glide paths and other ways to slowly move towards capital preservation and reducing SORR.

This plan will need to be fine-tuned as we get closer to our FIRE date, but for right now, we plan to hold 2-3 years expenses in cash/laddered GICs to mitigate SORR, and we may set up something similar to Millenial Revolutionís Yield Shield.

I've read about the reserve equity glidepath, but I've never read anything about how to factor in rental real estate.

I've always thought about my rental portfolio like my bond allocation, but I don't know if that's really the right way to think about it. For example, we own the rentals outright, rents are $22,500 gross, so conservatively we should be able to clear $10k/year.

Expenses in RE would be $35k, so need to cover $25k out of the $760k remaining portfolio, which is a 3.2% withdraw rate, so for now every new invested dollar I get it just going into equities.

Our numbers and expenses are similar to yours. We also have a rental. I think it depends on how robust your rental market is. Our rental is in a highly desirable location, and in the past 8 years, we have not had a vacancy. So Iím comfortable in thinking that the income from that is mostly guaranteed. I donít consider it in the same category as bonds though, because rents donít tend to go up when markets are down. I just consider it an alternative income stream or like a mini part-time job (similar to how I would not consider working at Walmart part-time for 10k a year as being similar to bonds).

We use a similar method to yours - deduct the rental income and use our stash to cover the balance. However, I still plan to move to a more conservative allocation at least for the first few years because it would really suck if I had to withdraw $25K from a 100% equity portfolio when the markets were down 30%. The whole point of having bonds is that if the market dropped 30%, ideally your bonds would have gone up, and those are what you sell, leaving your equities untouched.
« Last Edit: July 16, 2020, 04:18:02 PM by Freedomin5 »

brooklynmoney

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Re: Race from $1M to $2M
« Reply #1220 on: July 17, 2020, 08:52:39 PM »
edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?

Both because of getting closer to FIRE and recent market swings, I've upped how much I am contributing to cash accounts. I know I'll feel less panicky if I can wait out swings with a savings account. I used to hold almost none, now I am shooting for at least one year of expenses--maybe two.

Yeah I felt a little overexposed in my 401k and now contributions go to a balanced stock bond fund. By accident I had a huge portion in international. I so think you start to think a little more about capital preservation when you hit these numbers. At least I do.

TempusFugit

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Re: Race from $1M to $2M
« Reply #1221 on: July 18, 2020, 09:49:20 AM »
edit: do anyone think about investing differently after they get close to $1M or FI? Do people up their risk or de-risk their portfolios?

Both because of getting closer to FIRE and recent market swings, I've upped how much I am contributing to cash accounts. I know I'll feel less panicky if I can wait out swings with a savings account. I used to hold almost none, now I am shooting for at least one year of expenses--maybe two.

Yeah I felt a little overexposed in my 401k and now contributions go to a balanced stock bond fund. By accident I had a huge portion in international. I so think you start to think a little more about capital preservation when you hit these numbers. At least I do.


I think about it, of course, but the world is so bizarre now that you'd be as likely to lose your shirt in whatever asset you think is defensive as you would by just staying with what you've got.  I have always held a pretty conservative AA so I guess Im already as prepared for whatever weíre in for as I can be.   The only thing Ive changed recently is that I have been directing a few hundred dollars of my monthly automated investments into a money market fund just to build up a little more cash reserves. Its really kind of pointless in my particular situation, but its just a psychology thing. 

MickeyFinn

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Re: Race from $1M to $2M
« Reply #1222 on: July 21, 2020, 02:58:05 PM »
I'm tracking to ~$2M Net Worth at retirement.

Net Worth:
[07.2020] $1.037M


MrsSpendyPants

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Re: Race from $1M to $2M
« Reply #1223 on: July 26, 2020, 09:59:59 PM »
1.2 total thus far, up 27k in July.  Was hoping to be at 1.35 this year but our income has recently been halved so I donít think that will happen.

Roboturner

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Re: Race from $1M to $2M
« Reply #1224 on: July 27, 2020, 08:32:57 AM »
Well, we've successfully stayed above 2MM LNW for a couple weeks now, think im ready to officially move on. Good luck everyone!

SEAK

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Re: Race from $1M to $2M
« Reply #1225 on: July 27, 2020, 10:01:58 AM »
Slowly plugging along here...Our anticipated monthly bills are down significantly the past four months due to cancelled vacation plans and telecommuting allowing us to delay replacing my rusted out Tacoma.

LNW
2015- $482k
2016- $627k
2017- $811k
2018- $813k
2019- $1.08M
July 2020- $1.125M

talltexan

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Re: Race from $1M to $2M
« Reply #1226 on: July 27, 2020, 11:08:49 AM »
Well, we've successfully stayed above 2MM LNW for a couple weeks now, think im ready to officially move on. Good luck everyone!

@Roboturner , best of luck and congratulations!

brooklynmoney

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Re: Race from $1M to $2M
« Reply #1227 on: July 28, 2020, 08:33:30 PM »
Well, we've successfully stayed above 2MM LNW for a couple weeks now, think im ready to officially move on. Good luck everyone!

@Roboturner , best of luck and congratulations!

Yes congratulations on your graduation!

zinnie

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Re: Race from $1M to $2M
« Reply #1228 on: July 29, 2020, 10:37:22 AM »
Well, we've successfully stayed above 2MM LNW for a couple weeks now, think im ready to officially move on. Good luck everyone!

@Roboturner , best of luck and congratulations!

Yes congratulations on your graduation!

Congrats!!!!!!!!!!!

TempusFugit

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Re: Race from $1M to $2M
« Reply #1229 on: July 29, 2020, 05:23:18 PM »
Well, we've successfully stayed above 2MM LNW for a couple weeks now, think im ready to officially move on. Good luck everyone!

@Roboturner , best of luck and congratulations!

Yes congratulations on your graduation!

Congrats!!!!!!!!!!!

Well done, @Roboturner    I hope your celebration is truly "Baller"   Speak well of us uni-millionaires over in the new thread!   

FireLane

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Re: Race from $1M to $2M
« Reply #1230 on: July 31, 2020, 01:29:27 PM »
My net worth rose over $400,000 in 2019 from the crazy bull market year. As of this week, I'm at $1.61M LNW, $1.88M TNW. The big $2M is in sight!

Well, that was a fast dip and an even faster rebound! As of Friday, I've hit a new all-time high:

June 2020: $1.68 LNW / $1.94 TNW

It may be too good to last, but I'll enjoy it while it does.

Huzzah! As of month's end:

July 2020: $1.73 LNW / $2.00 TNW

My net worth including home equity touched $2 million today - almost exactly, I'm off by just a few hundred bucks.

I mistrust this market, given the way it's maintaining high valuations in the middle of a pandemic and global depression. I don't think I'll consider myself graduated from this thread until my NW has stayed at this level for a few months. But I've got to admit it feels pretty good.

TempusFugit

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Re: Race from $1M to $2M
« Reply #1231 on: July 31, 2020, 03:23:23 PM »
My net worth rose over $400,000 in 2019 from the crazy bull market year. As of this week, I'm at $1.61M LNW, $1.88M TNW. The big $2M is in sight!

Well, that was a fast dip and an even faster rebound! As of Friday, I've hit a new all-time high:

June 2020: $1.68 LNW / $1.94 TNW

It may be too good to last, but I'll enjoy it while it does.

Huzzah! As of month's end:

July 2020: $1.73 LNW / $2.00 TNW

My net worth including home equity touched $2 million today - almost exactly, I'm off by just a few hundred bucks.

I mistrust this market, given the way it's maintaining high valuations in the middle of a pandemic and global depression. I don't think I'll consider myself graduated from this thread until my NW has stayed at this level for a few months. But I've got to admit it feels pretty good.

Awesome achievement regardless.  Congrats.   

Arbitrage

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Re: Race from $1M to $2M
« Reply #1232 on: July 31, 2020, 06:50:09 PM »
Liquid NW / Total NW

1/1/16: $455k / 675k
1/1/17: $555k / 822k
1/1/18: $735k / 1.071M
1/1/19: $765k / 1.152M
12/1/19: $1.011M / 1.477M
1/1/20: $1.049M / 1.531M
2/1/20: $1.041M / 1.522M
3/1/20: $990k / 1.463M
4/1/20: ~$810k / 1.278M
5/20/20: $950k / 1.428M
6/1/20: $1.009M / 1.493M
7/1/20: $1.042M / 1.524M
8/1/20: $1.098M / 1.600M

Zamboni

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Re: Race from $1M to $2M
« Reply #1233 on: August 01, 2020, 09:27:08 AM »
                      LNW           TNW
Nov 2019     $1.02MM     $1.18MM
Dec 2019     $1.02MM     $1.24MM
Jan 2020      $1.11MM     $1.27MM
Apr 2020      $1.01MM     $1.18MM     & happy to be alive!
July 2020     $1.06MM     $1.23MM     (+$50K)   
Aug 1 2020   $1.11MM    $1.28MM     (+$50K)   

Zamboni

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Re: Race from $1M to $2M
« Reply #1234 on: August 01, 2020, 09:30:51 AM »
Well, we've successfully stayed above 2MM LNW for a couple weeks now, think im ready to officially move on. Good luck everyone!

Great job, @Roboturner! Good luck in your next challenge!

LeftA

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Re: Race from $1M to $2M
« Reply #1235 on: August 01, 2020, 01:07:36 PM »
I joined this race on July 19, 2019 at $1,004,259.

Calculated my net worth day for the first time since and I am happy with our progress; we are at $1,031,119.

As I mentioned previously, I think our progress will likely be slower than those who have been posting in this thread.

Today's update: $1,201,317

Well, it could be a lot worse!

Zoot

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Re: Race from $1M to $2M
« Reply #1236 on: August 03, 2020, 02:33:20 PM »
Another month-end, another update!

HISTORY:
Month/YearLiquid AssetsTotal Net Worth
Jan-17
$604K
$883K
Jan-18$836K$1,095K
Jan-19$872K$1,158K

YTD:
Month/YearLiquid AssetsTotal Net Worth
Jan-20$1,122K$1,438K
Feb-20$1,041K$1,360K
Mar-20$   927K$1,235K
Apr-20$1,025K$1,338K
May-20$1,082K$1,392K
Jun-20$1,109K$1,423K
Jul-20$1,174K$1,493K

The wild ride continues!  Our liquid NW puts us at about 78% of our $1.5M FIRE goal.  My spreadsheet indicates 25x expenses in roughly October 2022, or May 2023 with a paid-off house.

DH is liking his work less and less.  We'll see how long we can stomach employment.  ;-)

Onward!

thedigitalone

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Re: Race from $1M to $2M
« Reply #1237 on: August 03, 2020, 03:53:11 PM »
             LNW         TNW   
12/19    $0.96M     $1.43M
01/20    $1.00M     $1.47M
02/20    $1.04M     $1.53M
03/20    $1.05M     $1.55M
04/20    $0.98M     $1.48M
05/20    $1.08M     $1.58M
06/20    $1.18M     $1.62M
07/20    $1.24M     $1.76M   (+$60,485)

Our market gains so far this year just exceeded our anticipated annual income.... say what?

So very tempted to pull a chunk out and pay off the mortgage for the security aspect, but I know that's not the right thing to do.

on the road

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Re: Race from $1M to $2M
« Reply #1238 on: August 04, 2020, 10:09:12 AM »
I will join this race.

Aug 2020     $1,217K

Zoot

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Re: Race from $1M to $2M
« Reply #1239 on: August 04, 2020, 11:41:31 AM »
So very tempted to pull a chunk out and pay off the mortgage for the security aspect, but I know that's not the right thing to do.

Oh, my goodness, do I sympathize with you on this!  The value of our taxable account is roughly equivalent to the remaining balance on our 3.125% mortgage on our primary residence, which is our only debt. 

Some days, it's not enough to remember that on average we can earn more than 3.125% on those investments, and the only thing keeping me from paying it off is thinking of the capital gains tax I'd end up paying from selling everything to convert to the cash needed for the payoff.  ;-)

Hang in there!  Payoff day will come soon enough!

TempusFugit

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Re: Race from $1M to $2M
« Reply #1240 on: August 04, 2020, 12:31:00 PM »
So very tempted to pull a chunk out and pay off the mortgage for the security aspect, but I know that's not the right thing to do.

Oh, my goodness, do I sympathize with you on this!  The value of our taxable account is roughly equivalent to the remaining balance on our 3.125% mortgage on our primary residence, which is our only debt. 

Some days, it's not enough to remember that on average we can earn more than 3.125% on those investments, and the only thing keeping me from paying it off is thinking of the capital gains tax I'd end up paying from selling everything to convert to the cash needed for the payoff.  ;-)

Hang in there!  Payoff day will come soon enough!

Itís a real challenge to resist the urge to sell stocks now that they are back to near highs in anticipation of the reckoning to come, but to do what with the money?  If inflation comes calling, which seems like a sure thing - eventually - then having a low interest rate mortgage is one of the best defenses we could have.   Im looking into refinancing my 3.75 with only 12 years left to pay with hopefully a sub 3% 15 year loan.  If i can knock off a couple hundred bucks from the monthly outlay and also have the comfort of a low interest mortgage heading into a world awash with helicopter money from the fed, I think thats  a good combo as i look to retire in another 3-5 years. 

If the housing market was a little better from a buyers perspective (more units available in my area) i think i would be looking at purchasing a new home and keeping my current as a rental property. Both with low rate mortgages. 

redhead84

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Re: Race from $1M to $2M
« Reply #1241 on: August 17, 2020, 09:42:53 AM »
Officially joining the race. Here are the numbers for me and DH:

Invested Assets - $1.116M
Home Equity - $268K
Other Assets - $56K
Total Net Worth - $1.44M

We were briefly above the halfway point before the recent market activity.

It's hard to believe, but we are only a stone's throw from the $2M mark for TNW.

Invested Assets - $1.62M
Home Equity - $282K
Other Assets - $71K
Total Net Worth - $1.97M

CANStache

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Re: Race from $1M to $2M
« Reply #1242 on: August 29, 2020, 09:00:10 PM »
Welp, in Feb we hit $2.090 TNW, but unsurprisingly slid back below $2M in March.

By May we were back above $2M, and at the end of August we're at $2.14M TNW.  I think it's time to move along as I don't expect us to slip back that far anytime soon.

Good luck everyone, especially those impacted by COVID, layoffs, civil unrest, etc.

brooklynmoney

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Re: Race from $1M to $2M
« Reply #1243 on: August 29, 2020, 09:20:29 PM »
Welp, in Feb we hit $2.090 TNW, but unsurprisingly slid back below $2M in March.

By May we were back above $2M, and at the end of August we're at $2.14M TNW.  I think it's time to move along as I don't expect us to slip back that far anytime soon.

Good luck everyone, especially those impacted by COVID, layoffs, civil unrest, etc.

Congratulations! I only count liquid net worth basically I donít include the value of my home because I have no idea what will happen if and when I sell it. Right now itís a rental property so if I keep it as a rental I would just show cash flow and probably still not count it as an asset.

winkleweizen

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Re: Race from $1M to $2M
« Reply #1244 on: August 31, 2020, 04:36:54 PM »
march 2019: 1.04m
july 2019:     1.18m
Oct 2019:     1.24m
Feb 2020:     1.42m
April 2020:    1.23m
May 2020:    1.38m
June 2020: 1.45m
July 2020:    1.507m
Sept 2020:  1.695m

TheAnonOne

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Re: Race from $1M to $2M
« Reply #1245 on: August 31, 2020, 06:52:37 PM »
Old data:
Spoiler: show

2015 DEC:252k<- Crossed 250k
--
2016 JAN:260k(+8k)
2016 FEB:281k(+21k)
2016 MAR:285k(+4k)
2016 APR:298k(+13k)
2016 MAY:305k(+7k)
2016 JUN:307k(+2k)
2016 JUL:320k(+13k)
2016 AUG:326k(+6k)
2016 SEP:336k(+10k)
2016 OCT:337k(+1k)
2016 NOV:361k(+24k)
2016 DEC:368k(+7k)
--
2017 JAN:382k(+14k)
2017 FEB:403k(+21k)
2017 MAR:416k(+13k)
2017 APR:427k(+11k)
2017 MAY:436k(+9k)
2017 JUN:449k(+13k)
2017 JUL:464k(+15k)
2017 AUG:478k(+14k)
2017 SEPT:494k(+16k)
2017 OCT:510k(+16k) <- Crossed 500k
2017 NOV:523k(+13k)
2017 DEC:534k(+11k)
--
2018 JAN:558k(+24k)
2018 FEB:569k(+11k)
2018 MAR:560k(-9k)
2018 APR:574k(+14k/+5k)
2018 MAY:575k(+1k)
2018 JUNE:575k(+0k)
2018 JULY:599k(+24k)
2018 AUG:620k(+21k)
2018 SEPT:625k(+5k)
2018 OCT:597k(-28k)
2018 NOV:606k(+9k/-19k)
2018 DEC:580k(-26k/-45k)
--
2019 JAN:628k(+48k/+3k)
2019 FEB:666k(+38k)
2019 MAR:677k(+11k)
2019 APR:706k(+29k)
2019 MAY:670k(-36k)
2019 JUNE:709k(+39k/+3k)
2019 JULY:712k(+3k)
2019 AUG:720k(+8k)
2019 SEPT:725k(+5k)
2019 OCT:753k(+28k)  <- Crossed 750k
2019 NOV:777k(+24k)
2019 DEC:798k(+21k)
--
2020 JAN:809k(+11k)
2020 FEB:780k(-29k)
2020 MAR:700k(-80k/-109k)
2020 APR:762k(+62k/-47k)
2020 MAY:818k(+56k/+8k)
2020 JUNE:840k(+22k)
2020 JULY:884k(+44k)
2020 AUG:1.002mm(+118k)



2015 DEC:252k
2016 DEC:368k
2017 DEC:534k
2018 DEC:580k
2019 DEC:798k
--
2020 JAN:809k(+11k)
2020 FEB:780k(-29k)
2020 MAR:700k(-80k/-109k)
2020 APR:762k(+62k/-47k)
2020 MAY:818k(+56k/+8k)
2020 JUNE:840k(+22k)
2020 JULY:884k(+44k)
2020 AUG:1.002mm(+118k)

Hello everyone,

Coming from the "race to 1mm" thread this month. It makes me a little uneasy hitting that cross over point, right at the market highs, but here we are! Hopefully, everyone won't be too mad if I post a few months after a downturn at sub-1mm!

I've included my history from 250k all the way to now in a spoiler tag.

It is a little surreal being a "Millionaire", but the celebration was basically just a high five from DW. I was hoping for a red carpet!

It's probably time to start thinking about what a real FIRE # means for us. We never really came up with an exact dollar figure but 1.5mm -> 2mm seems like a pretty FAT-FIRE zone for us. We will probably hit bare-bones around 1.25mm

Thanks!
« Last Edit: August 31, 2020, 06:54:45 PM by TheAnonOne »

TempusFugit

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Re: Race from $1M to $2M
« Reply #1246 on: August 31, 2020, 07:33:49 PM »
Welcome aboard new millionaires! 

Don't fret about "just barely crossing the threshold" or that we're at "market highs" - that's sort of by definition how it usually happens!  We're all in the same boat as far as being at the mercy of a very weird market and economy (and society at the moment). 

We're here to have some fun and motivate one another to keep pushing toward financial independence.


Arbitrage

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Re: Race from $1M to $2M
« Reply #1247 on: August 31, 2020, 07:38:06 PM »
Liquid NW / Total NW

1/1/16: $455k / 675k
1/1/17: $555k / 822k
1/1/18: $735k / 1.071M
1/1/19: $765k / 1.152M
12/1/19: $1.011M / 1.477M
1/1/20: $1.049M / 1.531M
2/1/20: $1.041M / 1.522M
3/1/20: $990k / 1.463M
4/1/20: ~$810k / 1.278M
5/20/20: $950k / 1.428M
6/1/20: $1.009M / 1.493M
7/1/20: $1.042M / 1.524M
8/1/20: $1.098M / 1.600M
9/1/20: $1.151M / 1.660M

markbike528CBX

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Re: Race from $1M to $2M
« Reply #1248 on: August 31, 2020, 09:49:19 PM »
Welcome aboard new millionaires! 

Don't fret about "just barely crossing the threshold" or that we're at "market highs" - that's sort of by definition how it usually happens!  We're all in the same boat as far as being at the mercy of a very weird market and economy (and society at the moment). 

We're here to have some fun and motivate one another to keep pushing toward financial independence.

This also needs posted  on the 2M+ thread.  Well said.
I am amused at how the less than 2M threads are positive and the 2M+ threads area full of hand-wringing OMY whiners. 

Disclosure: I was solidly in the 2M club before I FIREd.  Probably worked to long.... 

You can FU money (temporary) or FIRE completely any time you are ready.   Don't let Financial Shithead  (another blogger) tell you otherwise.

on the road

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Re: Race from $1M to $2M
« Reply #1249 on: September 01, 2020, 04:57:45 AM »
Liquid net worth

Aug 2020     $1,217K
Sep 2020     $1,260K