Author Topic: Race from $1M to $2M  (Read 435902 times)

rebel_quietude

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Re: Race from $1M to $2M
« Reply #1350 on: December 22, 2020, 08:20:09 PM »
Thanks, @TempusFugit !

For my part, retirement is not linked to FI. I'm working until 2030, so might as well ensure I have enough to do whatever I want after that.

As for rewards . . . celebrated $1 mil with significant lifestyle inflation, aka a puppy. The $2 mil mark . . . who knows!

TempusFugit

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Re: Race from $1M to $2M
« Reply #1351 on: December 24, 2020, 01:31:13 PM »
Thanks, @TempusFugit !

For my part, retirement is not linked to FI. I'm working until 2030, so might as well ensure I have enough to do whatever I want after that.

As for rewards . . . celebrated $1 mil with significant lifestyle inflation, aka a puppy. The $2 mil mark . . . who knows!

A puppy is definitely lifestyle inflation!   But always worth it in my experience.   

If you plan to keep working and saving for another decade, you'll probably hit $3M+ by the time you retire.  That's pretty much do what you want kind of money, for sure. 


duellingbanjos

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Re: Race from $1M to $2M
« Reply #1352 on: December 24, 2020, 07:39:22 PM »
Hello.. long time reader, first time poster :)

Dipping my toe in here since LNW and TNW straddle the 1m line. LNW figure is exclusive of retirement accounts and unvested stock, inclusive of rental property equity. TNW includes retirement accounts and rental ppty equity, still excludes unvested stock. Age 39 and hope to be comfortably FI + modest home purchased & paid + college x2 paid for, by 50-55.

Ballpark EOY Liquid NW   Total NW
2016   570k   
2017   669k   
2018   697k   
2019   803k   
2020   969k   1287k

My record keeping from 2016-2018 (and before) is a bit wibbly but 2019 and 2020 figures are accurate. Happy to be here and hoping to cross the 1m LNW line very soon.


MrsSpendyPants

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Re: Race from $1M to $2M
« Reply #1353 on: December 26, 2020, 06:31:10 PM »
Just hit 1.4M TNW!  Goal for 2021 is 1M LNW and 1.5TNW. 

YoungGranny

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Re: Race from $1M to $2M
« Reply #1354 on: December 29, 2020, 07:43:10 AM »
Excited to join this thread!

NW (approx):

5/2012: -$20k - graduated college with some debt
10/2016: $300k - married my DH and made plans to TAKE OVER THE WORLD er uh.... just FIRE ;)
12/2017: $500k - graduated the '250-500k thread'
12/2020: $1,000k - hit millionaire status this month.

Despite making a lot of "dumb" money moves in the past couple years. (I.e.: taking a job across the country, hating it, paying back the sign-on bonus, moving to Chicago for my DH jobs, having him get laid off due to the pandemic, selling our Chicago condo a year after buying it and paying closing costs to move back to MI since I got a promotion with my job ETC.). Probably could have hit a million NW a while ago but I think I realized I have enough money to just be happy and money can be used as a tool to get out of unhappy situations. My current job is 37.5 hours a week - super flexible which is really nice with having a 5 month old baby around now. Not sure if we'll make it all the way to $2m but we'll see :) happy to be here!

JGS1980

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Re: Race from $1M to $2M
« Reply #1355 on: December 29, 2020, 08:48:27 AM »
Excited to join this thread!

NW (approx):

5/2012: -$20k - graduated college with some debt
10/2016: $300k - married my DH and made plans to TAKE OVER THE WORLD er uh.... just FIRE ;)
12/2017: $500k - graduated the '250-500k thread'
12/2020: $1,000k - hit millionaire status this month.

Despite making a lot of "dumb" money moves in the past couple years. (I.e.: taking a job across the country, hating it, paying back the sign-on bonus, moving to Chicago for my DH jobs, having him get laid off due to the pandemic, selling our Chicago condo a year after buying it and paying closing costs to move back to MI since I got a promotion with my job ETC.). Probably could have hit a million NW a while ago but I think I realized I have enough money to just be happy and money can be used as a tool to get out of unhappy situations. My current job is 37.5 hours a week - super flexible which is really nice with having a 5 month old baby around now. Not sure if we'll make it all the way to $2m but we'll see :) happy to be here!

Welcome! Yup, that's what money is for!

Bird In Hand

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Re: Race from $1M to $2M
« Reply #1356 on: December 29, 2020, 09:39:10 AM »
July 2019: LNW (barely) crested $1.5M for the first time yesterday, TNW is very close to $1.9M.
Nov 2019: LNW has been a little over $1.6M for a week or so, with TNW at just over $2.0M.

It dawned on me that I haven't update here in a while, and I was curious to see how close I was to getting kicked out of this club.

Dec 2020: LNW is a hair below $1.95M.  TNW about $2.4M.

There's a chance we'll crest $2M LNW this year, but I'm not going to pull a @BlueHouse -- I plan on sticking around a while longer to be safe, maybe until $2.2M.  Even that is only one run-of-the-mill correction away from rejoining this club!

BlueHouse

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Re: Race from $1M to $2M
« Reply #1357 on: December 29, 2020, 09:56:05 AM »
July 2019: LNW (barely) crested $1.5M for the first time yesterday, TNW is very close to $1.9M.
Nov 2019: LNW has been a little over $1.6M for a week or so, with TNW at just over $2.0M.

It dawned on me that I haven't update here in a while, and I was curious to see how close I was to getting kicked out of this club.

Dec 2020: LNW is a hair below $1.95M.  TNW about $2.4M.

There's a chance we'll crest $2M LNW this year, but I'm not going to pull a @BlueHouse -- I plan on sticking around a while longer to be safe, maybe until $2.2M.  Even that is only one run-of-the-mill correction away from rejoining this club!

You'll have to remind me.  What exactly is "pulling a BlueHouse"? 
If you mean leaving this club when I graduated to the next tier, then you're welcome to join us all over there.  I'm firmly in the $2-$4M club now with LNW at $2.3M and another $1M equity in my home.  It makes more sense for me to look forward and not back and that's why i left.  Hope you won't hold it against me too much longer!  :) 

Bird In Hand

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Re: Race from $1M to $2M
« Reply #1358 on: December 29, 2020, 10:05:19 AM »
You'll have to remind me.  What exactly is "pulling a BlueHouse"?

Lol, I was just referring to the timing of your announcement that you were leaving the club back when you first crested $2M LNW.   IIRC the equity markets then promptly started what would become a ~30% covid plunge, presumably putting you a few hundred grand below $2M for a short while, and forcing you to rejoin the likes of us.  Granted, the markets have bounced back rather snappily since then!

BlueHouse

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Re: Race from $1M to $2M
« Reply #1359 on: December 29, 2020, 12:56:24 PM »
You'll have to remind me.  What exactly is "pulling a BlueHouse"?

Lol, I was just referring to the timing of your announcement that you were leaving the club back when you first crested $2M LNW.   IIRC the equity markets then promptly started what would become a ~30% covid plunge, presumably putting you a few hundred grand below $2M for a short while, and forcing you to rejoin the likes of us.  Granted, the markets have bounced back rather snappily since then!

Yeah, sometimes I feel as if my timing is the worst in the world!  But just like the "worst market timer in the world" story, luckily, it bounces back. 
Don't be too shy about graduating @Bird In Hand .  Always reach for the next goal and don't look back! 

Zamboni

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Re: Race from $1M to $2M
« Reply #1360 on: December 29, 2020, 04:20:46 PM »
                     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 2020     $1.11MM    $1.28MM     (+$50K)   
Sep 2020     $1.15MM    $1.33MM     (+$50K)
Oct 2020      $1.17MM    $1.36MM     (+$30K)
Nov 2020     $1.22MM     $1.51MM    (+$50K)
Dec 2020     $1.26MM     $1.55MM    (+$40K)

Sayonara, 2020!

TempusFugit

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Re: Race from $1M to $2M
« Reply #1361 on: December 31, 2020, 09:37:58 AM »
                 LNW    /  TNW
EOY 2018 - 877K   / 1.02M
EOY 2019 - 1.12M  / 1.275M
EOY 2020 - 1.33M / 1.5M

This year was pretty much exactly the same YoY TNW increase as last year at $250K.  The dollar amount is the same, but of course the increase as a percentage dropped from 24% to 20%.   Somehow I don't think I'll continue to get 20% YoY increases, but I guess we'll see.  Couple more of these years (financially speaking) and I'll be sitting pretty. 

My spreadsheet has four FIRE levels defined:  Barebones, Lean, Comfortable, and Target (pretty fat).  These are obviously subjectively named, since truly barebones would be a much lower number than I'm using. I've passed the Barebones and Lean values and am closing in on my ''comfortable" number, which was already upwardly adjusted from what I projected 3 years ago when I started to actually think about this.   In fact, that originally projected number is now the one I use for 'barebones' LOL.  Guess that's human nature for ya.   My 'Comfortable' fire number is pretty much my average annual spend over the past 3 years plus full cost ACA silver health plan.  Once I hit that number, I will consider myself truly FI, though of course I could live quite well on what I've already saved.

If my YoY LNW stash increases by the same 18ish% in 2021 that it did this year, I'll be knocking on the door of my 'Comfortable' fire number with my 'Target' Fire number not far away from that.

Point being, I guess I'd better start getting serious about whether I'm going to actually 'retire' or maybe just change careers (financially risk free) or go part time (an outside chance of that being an option) or keep working a few more years to get really rich, or something else.  I had hoped and planned to start doing more outside 'fun' things this year and to expand my social circle - and I'd taken steps to do those things but then Spring happened and here I am sitting at my desk at home on the internet, wondering if 'retiring' would be good for me psychologically.  Of course, 2020 makes us all think a bit differently, I imagine.  I think I would be in pretty bad shape emotionally (and maybe physically) had I retired last year and found myself stuck at home with nothing to do.     

Sometimes I find myself thinking about coasting from here and starting to spend more on travelling and other experiences while I'm still banking coin from a job and just letting the stash do its thing without constantly feeding it from the contributions side.  This COVID experience probably has a lot of us (I should hope) reconsidering how long we are willing to postpone doing things we'd like to do. Planning to do those things only after I've hit some financial milestone and left the workforce seems shortsighted now.   

I need a year or two of non-COVID life to experiment with new activities and hobbies to see if retiring is the right thing for me.  Looks like (please, God) we are about to get through the COVID nightmare in the next few months and I'll have the chance to do that.

I hope all of you also had good years financially and that we can all get through these next crucial months of the virus so we can start enjoying life again with friends and family and travel and concerts. Won't that be sweet? 

LeftA

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Re: Race from $1M to $2M
« Reply #1362 on: December 31, 2020, 09:43:13 AM »
Here here @TempusFugit ! I couldnít have said it better myself!

Fomerly known as something

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Re: Race from $1M to $2M
« Reply #1363 on: December 31, 2020, 04:04:48 PM »
I graduated from this thread today.  Even without being able to see my TSP until tomorrow but Iím at $2,003,xxx.xx today.

TempusFugit

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Re: Race from $1M to $2M
« Reply #1364 on: December 31, 2020, 04:34:47 PM »
I graduated from this thread today.  Even without being able to see my TSP until tomorrow but Iím at $2,003,xxx.xx today.

Congrats on becoming a "multi-millionaire"!  Go check out the next thread for us and report back

Fomerly known as something

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Re: Race from $1M to $2M
« Reply #1365 on: December 31, 2020, 04:41:38 PM »
I graduated from this thread today.  Even without being able to see my TSP until tomorrow but Iím at $2,003,xxx.xx today.

Congrats on becoming a "multi-millionaire"!  Go check out the next thread for us and report back

Iíve been hanging there for a while, using fuzzy math with my pension, now I donít need fuzzy Math.  This milestone is hitting me hard.  I think I always knew $1M was possible if not inevitable.  Even though Iíve seen that $2M was possible since I got to $1M, Iím only realizing now that I didnít really think that far ahead.

YellowCat

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Re: Race from $1M to $2M
« Reply #1366 on: January 01, 2021, 06:44:16 AM »
Dec 2019: $1,030,547
Dec 2020: $1,355,244 (+$324,697)

Boy howdy has it been a hell of a year. Happy new year to all!

on the road

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Re: Race from $1M to $2M
« Reply #1367 on: January 01, 2021, 07:45:24 AM »
Happy New Year, All!

Liquid net worth

Aug 2020     $1,217K
Sep 2020     $1,260K
Oct 2020     $1,265K
Nov 2020     $1,253K
Dec 2020     $1,375K
Jan 2021     $1,428K


« Last Edit: March 02, 2021, 09:21:47 AM by on the road »

Arbitrage

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Re: Race from $1M to $2M
« Reply #1368 on: January 01, 2021, 08:52:40 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
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
10/1/20: $1.138M / 1.641M
11/1/20: $1.155M / 1.678M
12/1/20: $1.290M / 1.804M
1/1/21: $1.370M / 1.883M

Blissful Biker

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Re: Race from $1M to $2M
« Reply #1369 on: January 01, 2021, 09:58:07 AM »
(CDN$)        LNW         TWN
2015 YE     $0.81M    $1.23M
2016 YE     $0.96M    $1.40M
2017 YE     $1.10M    $1.55M
2018 YE     $1.13M    $1.66M
2019 YE     $1.38M    $1.90M
1Q2020     $1.18M    $1.75M
2Q2020     $1.40M    $1.95M
3Q2020     $1.49M    $2.04M
4Q2020     $1.63M    $2.27M

Our TNW increased $330K or 17.3% this year!  It is comprised of:
- $80K in savings
- $90K increase in value of our home
- $160K market growth

Being homebodies helped us achieve a 53% of net income savings rate.  Of particular note, we scaled down to being a single car family and are finding it to be working just fine.

My plan to FIRE in 2024 is becoming more and more conservative and I am quietly considering moving that date up to 2023.  But I do not want to get too attached to an earlier FIRE date because I am concerned we might be in a bit of a bubble.  The CAPE ratio is still so high.

I'm going to stay in this thread because these are little Canadian dollars, and our real focus is achieving $2M LNW.

Happy New Years to each of you.  To a wonderful 2021!

SEAK

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Re: Race from $1M to $2M
« Reply #1370 on: January 01, 2021, 11:14:35 AM »
LNW
2015- $482k
2016- $627k
2017- $811k
2018- $813k
2019- $1.08M
end 2020- $1.35M

2020 ended up being another great year financially. We could have saved a bit more money but we recently ended up paying for a 16-day family rafting trip down the Grand Canyon for this coming April and also an August remote fly-in Dall Sheep hunt here in Alaska. 2021 should be very similar to 2020 and past years savings amounts. I really do need to replace my very rusted out Tacoma before the frame literally snaps in half though!

Zoot

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Re: Race from $1M to $2M
« Reply #1371 on: January 01, 2021, 12:37:28 PM »
Time for a year-end 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
Aug-20$1,247K$1,563K
Sep-20$1,215K$1,533K
Oct-20$1,197K$1,520K
Nov-20$1,319K$1,645K
Dec-20$1,379K$1,708K


LNW is up $257K since January; TNW is up $270K.  That's crazy enough, but what really brings that home is that this increase is more than our combined gross household income; even the net gain (i.e., total increase in account values less our contributions) was more than our combined gross income.  I can see/understand intellectually why the numbers are what they are, but darn if it doesn't feel like alien magic on a visceral level.

Onward!  :)


Zamboni

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Re: Race from $1M to $2M
« Reply #1372 on: January 01, 2021, 12:50:08 PM »
I hope all of you also had good years financially and that we can all get through these next crucial months of the virus so we can start enjoying life again with friends and family and travel and concerts. Won't that be sweet?

Indeed it would, TempusFugit.

Congrats, @Fomerly known as something!

RWD

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Re: Race from $1M to $2M
« Reply #1373 on: January 01, 2021, 09:01:24 PM »
Planning on continuing quarterly reporting. It hasn't even been two months since we hit millionaire status but we already have another ~$80k. Amazing.

10/1/2020 - 0.96m
1/1/2021 - 1.08m

JGS1980

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Re: Race from $1M to $2M
« Reply #1374 on: January 02, 2021, 07:50:57 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)
Oct-20     $1,233,581 (+104,981) *Milestone reached -over 1 million in liquid investments.
Jan-21     $1,468,865 (+235,284 for the quarter, + 374,258 for the year)

JGS
« Last Edit: January 07, 2021, 10:22:00 AM by JGS1980 »

jmutt

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Re: Race from $1M to $2M
« Reply #1375 on: January 02, 2021, 08:40:55 AM »
Not a bad year.

DEC 2020 NW: 1.11M
SEP 2020  NW: 1.0M
DEC 2019 NW: 933k
DEC 2018 NW: 737K
DEC 2017 NW: 697k
DEC 2016 NW: 559k
DEC 2015 NW: 444k
DEC 2014 NW: 385k
DEC 2013 NW: 337k
DEC 2012 NW: 253k
DEC 2011 NW: 209K
DEC 2010 NW: 184k

BMP2CPM@gmail.com

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Re: Race from $1M to $2M
« Reply #1376 on: January 03, 2021, 04:09:16 PM »
My update for 2020. My wife is in the airline industry and had to take leave until Jan 2022. We had to take out 19K from the nest egg to cover her leave. I have had to put in a little less each month into the 401K than I would like. Still, we are doing well with just one salary. Should be able to save more when wife goes back to work. I'm 51 and wife is 46.

Nest egg investments:

December 2016 $725,000
Q4 2017 $825,000
Feb 22 2019 $970,059
April 23 2019 $1,002,103
Jun 17 2019 $994,941
Aug 30 2019 $1,012,231
Oct 28 2019 $1,052,755
Nov 26 2019 $1,085,300
Dec 27 2019 $1,111,165
Feb 12 2020 $1,144,369
Nov 13 2020 $1,153,263
Dec 04 2020 $1,204,186
Dec 31 2020 $1,228,969

Travis

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Re: Race from $1M to $2M
« Reply #1377 on: January 03, 2021, 04:58:11 PM »
Probably safe to start posting in this club now.

JAN 2014 - $364k
DEC 2014 - $458k
DEC 2015 - $525k
DEC 2016 - $650k
DEC 2017 - $850k
DEC 2018 - $866k
DEC 2019 - $1,208,000
DEC 2020 - $1,507,000

monarda

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Re: Race from $1M to $2M
« Reply #1378 on: January 03, 2021, 09:11:31 PM »
                liquid and rental property equity      TNW (includes primary residence equity)
                   plus pension balance

10/1/20           $988K                                     $1.16M
11/26/20        $1.02M                                     $1.19M


1/3/2021        $1.03M                        $1.21M

MikeO

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Re: Race from $1M to $2M
« Reply #1379 on: January 04, 2021, 01:41:01 PM »
here's my 2020 Close out.  given everything that's been going on, I think this was a decent year (investment wise anyway). Here's to hoping 2021 is equally as good.



Investment Accounts
End Of Month Liquid Balance  $$ I invested  total change
Dec 2016  $322,818  $30,604     
Dec 2017  $438,627 $40,177 $115,809 
Dec 2018  $518,373 $87,168 $79,746 
Dec 2019  $778,776 $95,881  $260,403 
Dec 2020  $1,084,796 $143,910  $306,060 
    
Jan 2021  $ $ $
Feb 2021  $ $ $

Chairman

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Re: Race from $1M to $2M
« Reply #1380 on: January 04, 2021, 04:40:41 PM »
First post for us on this thread (previously we were here).

Our history so far:

  • 2021: 1059k liquid + 556K home equity: total 1,615k (debt: 0k)
  • 2020: 918k liquid + 478k home equity: total 1,396k (debt: 30k)
  • 2019: 877k liquid + 440k home equity: total 1,317k (debt: 46k)
  • 2018: 1,075k liquid + 409k home equity: total 1,484k (debt: 141k)
  • 2017: 720k liquid + 250k home equity: total 970k (debt: approx 228k)
« Last Edit: January 01, 2022, 05:23:48 PM by Chairman »

TheAnonOne

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Re: Race from $1M to $2M
« Reply #1381 on: January 04, 2021, 05:12:15 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)<-Crossed 1m
2020 SEP:979k(-23k/-23k)
2020 OCT:971k(-8k/-31k)
2020 NOV:1.058mm(+87k)
2020 DEC:1.100mm(+42k)

Year end reporting, up approximately 302k, which, I think, is the largest increase in any given year for us.

This is more than our combined HHI, meaning we made back every dime we spend, and paid in taxes.

If every year was like this, FIRE would be as short as 1 year away, and as long as 3. Crazy.

asauer

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Re: Race from $1M to $2M
« Reply #1382 on: January 06, 2021, 07:38:58 AM »
Update:
Jan 2020: 852k
June 2020: 850k
Sept 2020: 1,057k
Dec 2020: 1,110k
Jan 2021: 1,145k

Hoping to save 80k this year!

BoonDogle

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Re: Race from $1M to $2M
« Reply #1383 on: January 08, 2021, 10:03:09 AM »
At 1.147M at 6/30/17.  Looks like I am here to stay for a while based on projections - at least another 4.5 years.  Unfortunately, I have a chunk of assets not earning a dime.  Company stock payout is only at cost unless you stay beyond a certain age - no thanks.

Didn't take near as long as I projected.  Made it to 2.076M at 9/30/20.  Probably will drop back below at the next market correction but I'll bask in this victory for the time being.

TempusFugit

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Re: Race from $1M to $2M
« Reply #1384 on: January 08, 2021, 07:05:00 PM »
At 1.147M at 6/30/17.  Looks like I am here to stay for a while based on projections - at least another 4.5 years.  Unfortunately, I have a chunk of assets not earning a dime.  Company stock payout is only at cost unless you stay beyond a certain age - no thanks.

Didn't take near as long as I projected.  Made it to 2.076M at 9/30/20.  Probably will drop back below at the next market correction but I'll bask in this victory for the time being.

Congratulations!   Check out the next thread for 2-4M (and beyond).  They seem like a fun bunch. Speak well of us when you're hobnobbing with the other multi-millionaires   : ) 

swaneesr

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Re: Race from $1M to $2M
« Reply #1385 on: January 08, 2021, 07:39:12 PM »
At 1.147M at 6/30/17.  Looks like I am here to stay for a while based on projections - at least another 4.5 years.  Unfortunately, I have a chunk of assets not earning a dime.  Company stock payout is only at cost unless you stay beyond a certain age - no thanks.

Didn't take near as long as I projected.  Made it to 2.076M at 9/30/20.  Probably will drop back below at the next market correction but I'll bask in this victory for the time being.
Congratulations. Yes you may bop up and down over and under 2M. You have broken through another level. Enjoy the WIN. Kind of a big deal to be a multi~millionaire!


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MishMash

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Re: Race from $1M to $2M
« Reply #1386 on: January 09, 2021, 08:26:19 AM »
LNW
2015- $482k
2016- $627k
2017- $811k
2018- $813k
2019- $1.08M
end 2020- $1.35M

2020 ended up being another great year financially. We could have saved a bit more money but we recently ended up paying for a 16-day family rafting trip down the Grand Canyon for this coming April and also an August remote fly-in Dall Sheep hunt here in Alaska. 2021 should be very similar to 2020 and past years savings amounts. I really do need to replace my very rusted out Tacoma before the frame literally snaps in half though!

Hot damn! how did you get a Dall permit?  That is one of my husbands bucket list trips.  Not much good hunting here in FL but we head to a buddies place in TX each year, he got a nice aoudad last year.

Bateaux

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Re: Race from $1M to $2M
« Reply #1387 on: January 10, 2021, 02:06:21 AM »
At 1.147M at 6/30/17.  Looks like I am here to stay for a while based on projections - at least another 4.5 years.  Unfortunately, I have a chunk of assets not earning a dime.  Company stock payout is only at cost unless you stay beyond a certain age - no thanks.

Didn't take near as long as I projected.  Made it to 2.076M at 9/30/20.  Probably will drop back below at the next market correction but I'll bask in this victory for the time being.

Congratulations!   Check out the next thread for 2-4M (and beyond).  They seem like a fun bunch. Speak well of us when you're hobnobbing with the other multi-millionaires   : )

Saw some of you guys moving up to the next thread.  When we were crossing over I sort of cheated using a cash balance pension and non income generating property.  Why a thread on the internet held so much importance to me, I don't know.  The good news is you are all so close if you have 1 million in income producing assets.  Whether it's stocks, a business or real estate.  You now have a huge force multiplier pushing you.  If you read back in this thread a few years you'll see me setting goals of 1.5 million and then FIRE.  I had a change of heart, OMY, OMY, fear.  I hated my job and was leaving it in 2018.  Thankfully I got a much better position and work no longer sucks.  Now my goal is no later than 2023.  Yes I pushed my goal out 5 years.  But, at this level those 5 years of work and letting my portfolio grow will generate more than all the previous years of life combined.  We have already reached a level where our portfolio makes more now than our gross pay annually at our jobs.  So, it's not about spending power.  It's about what kind of good we can do with that money later in life.   Good luck to you all and look forward to seeing you in the next thread.

Bird In Hand

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Re: Race from $1M to $2M
« Reply #1388 on: January 10, 2021, 09:36:39 AM »
I'm a little late to this party.  We crossed $1M in invested assets last May, and now it's $1.16.  If I include home equity, it's $1.45M, but I think that's based on a rather optimistic Zillow estimate.  Closer to $1.4M is probably about right.

Net worth (cash + taxable brokerage + retirement investments + home equity) has gone up by $122k this year.  Granted, it probably went down by $10k+ with the market falling today.  But I can't be worried about that -- life goes on!

We have no specific goal/timeline for reaching $2M.  We could retire now at 40-ish with ~$41k/year (96% FIRECalc success rate) if we cut our budget to the bone, but it wouldn't be pleasant, and healthcare would be a big question mark.  We could retire in ~3 years after the mortgage is paid off with a $55k/year.  But we like our jobs and I'll probably continue working part time indefinitely after the mortgage is gone to delay drawing down our accounts.

We've graduated to the $2M-$4M race as of Friday, with a LNW of $2.005M and TNW > $2.4M.  I'm taking my own advice and sticking around here for a while though!  Mr. Market is fickle.

It took ~18 years of crappy market returns to reach $1M and ~4.5 more years of good returns to reach $2M.  We don't have any specific RE target, but our stache technically has us FI right now.  I guess that means that if we ever RE it will likely be something close to Fat FIRE, though I guess we're also one health issue/bad manager/bear market away from something close to Lean FIRE.

Bateaux

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Re: Race from $1M to $2M
« Reply #1389 on: January 10, 2021, 01:44:41 PM »
I'm a little late to this party.  We crossed $1M in invested assets last May, and now it's $1.16.  If I include home equity, it's $1.45M, but I think that's based on a rather optimistic Zillow estimate.  Closer to $1.4M is probably about right.

Net worth (cash + taxable brokerage + retirement investments + home equity) has gone up by $122k this year.  Granted, it probably went down by $10k+ with the market falling today.  But I can't be worried about that -- life goes on!

We have no specific goal/timeline for reaching $2M.  We could retire now at 40-ish with ~$41k/year (96% FIRECalc success rate) if we cut our budget to the bone, but it wouldn't be pleasant, and healthcare would be a big question mark.  We could retire in ~3 years after the mortgage is paid off with a $55k/year.  But we like our jobs and I'll probably continue working part time indefinitely after the mortgage is gone to delay drawing down our accounts.

We've graduated to the $2M-$4M race as of Friday, with a LNW of $2.005M and TNW > $2.4M.  I'm taking my own advice and sticking around here for a while though!  Mr. Market is fickle.

It took ~18 years of crappy market returns to reach $1M and ~4.5 more years of good returns to reach $2M.  We don't have any specific RE target, but our stache technically has us FI right now.  I guess that means that if we ever RE it will likely be something close to Fat FIRE, though I guess we're also one health issue/bad manager/bear market away from something close to Lean FIRE.

Great job crossing over.  There could be a 10 to 20 percent drop coming.  Who knows that always happen.  Thus far every single one has recovered and gone higher.  Great thing is this will always be your thread regardless.  Kind of like your schools that you graduate.  One million, high school diploma.  Two million, college degree.  Two to four, masters.  Four and beyond you are working on your doctorate.
« Last Edit: January 10, 2021, 01:47:39 PM by Bateaux »

skcook

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Re: Race from $1M to $2M
« Reply #1390 on: January 10, 2021, 06:55:47 PM »
Joining this thread after just cresting the $1 mill mark in December, with total NW!

Jan 2021 - $1.038m
Sep 2020 - $933k
Sep 2019 - $780k
Sep 2018 - $656k
Sep 2017 - $538k
Sep 2016 - $330k
Sep 2014 - $0?? (started reading MMM around then but didn't track NW for awhile, likely due to new parent brain fog)

Kind of amazing to watch it happen, despite many missteps/opportunities for improvement.

We just refinanced our mortgage to a 15 year and are looking at an upcoming major cut in child care expenses as well as increased income potential for both of us, so I'm feeling positive about our direction. Hoping to get liquid NW into the $1 mill range in 2 years, although that is an aggressive dream...
« Last Edit: January 11, 2021, 10:49:31 AM by skcook »

Unique User

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Re: Race from $1M to $2M
« Reply #1391 on: January 11, 2021, 09:15:17 AM »
Total NW went over $1.5 again due to the market.  Our target is $1.6 by April 2020 when we both give notice.  We're almost there!

2011: $506k
2012: $594k
2013: $757k
2014: $835k
2015: $979k
2016: $1138k
2017: $1389k
2018: $1467k

Haven't updated in a while, but we ended 2020 over the $2M mark. Amazing what market gains plus a 50-60% savings rate can do over time!

2019: $1814k
2020: $2239k

BluePhoenix75

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Re: Race from $1M to $2M
« Reply #1392 on: January 14, 2021, 02:45:36 PM »
Welcome aboard @BluePhoenix75 and @rebel_quietude.   

Now that you've reached this milestone, what's your next goal?  Are you aiming for a number under 2M to hit the work eject button?  How did you / will you celebrate this financial achievement?

Thanks @TempusFugit!

My next goal is to get to $2M and start purchasing rental property.  I'd like to build up a portfolio of investments that are going to deliver enough "passive" income to keep me in the manner to which I have become accustomed. :) 

I celebrated by drinking my coffee (pinky finger extended) and calling everyone "dah-ling" for about a week.  :D
« Last Edit: January 14, 2021, 02:49:31 PM by BluePhoenix75 »

talltexan

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Re: Race from $1M to $2M
« Reply #1393 on: January 19, 2021, 09:30:05 AM »
At 1.147M at 6/30/17.  Looks like I am here to stay for a while based on projections - at least another 4.5 years.  Unfortunately, I have a chunk of assets not earning a dime.  Company stock payout is only at cost unless you stay beyond a certain age - no thanks.

Didn't take near as long as I projected.  Made it to 2.076M at 9/30/20.  Probably will drop back below at the next market correction but I'll bask in this victory for the time being.

Congratulations!   Check out the next thread for 2-4M (and beyond).  They seem like a fun bunch. Speak well of us when you're hobnobbing with the other multi-millionaires   : )

Saw some of you guys moving up to the next thread.  When we were crossing over I sort of cheated using a cash balance pension and non income generating property.  Why a thread on the internet held so much importance to me, I don't know.  The good news is you are all so close if you have 1 million in income producing assets.  Whether it's stocks, a business or real estate.  You now have a huge force multiplier pushing you.  If you read back in this thread a few years you'll see me setting goals of 1.5 million and then FIRE.  I had a change of heart, OMY, OMY, fear.  I hated my job and was leaving it in 2018.  Thankfully I got a much better position and work no longer sucks.  Now my goal is no later than 2023.  Yes I pushed my goal out 5 years.  But, at this level those 5 years of work and letting my portfolio grow will generate more than all the previous years of life combined.  We have already reached a level where our portfolio makes more now than our gross pay annually at our jobs.  So, it's not about spending power.  It's about what kind of good we can do with that money later in life.   Good luck to you all and look forward to seeing you in the next thread.

@Bateaux , I think the anonymity of the internet makes us important. You look weird when sharing with people in your everyday life that you cross these net worth milestones (I haven't even wanted to make a big deal about it with my wife). But here in this forum, we are likeminded in valuing the freedom this financial cushion can buy, so we are determined to be honest about our scores here.

zinnie

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Re: Race from $1M to $2M
« Reply #1394 on: January 21, 2021, 08:21:53 AM »
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!!!!!!!!

Current liquid: 1.738M
Current NW: 2M

Did yesterday push anyone else over the edge? :D

And with that I'm out--whether I dip below again or not. I've always tried to follow my dad's advice on investing: don't get greedy. And so now I hope to think very little about money in the future.

Good luck everyone!!!

mistymoney

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Re: Race from $1M to $2M
« Reply #1395 on: January 24, 2021, 09:16:21 AM »
Sometime this past week, I crossed over. Total liquid funds of $1,000,944.69. It may have gone down a bit by Friday? I'm not interested in checking.

This includes 401k, rollover 401ks, roth, HSA, and EF. Very small EF and HSA, so nearly everything is in retirements.

I would love to think I could get to 2 million, but it seems impossible. I'm not sure how much longer I can hold on to that fire hose (maybe more of a garden hose! - I am only saving about 25% of income and I know most look to be at 50 or even greater) but trying to maintain my employment until end of pandemic and see if this crazy stock market will stabilize or pull back significantly.

Currently, I could just barely squeek by at 4% plus a side hustle I currently have that seems stable for 2021. I am 53, so holding on till 55 to access the retirements also holds appeal.

So - back to topic. Join this effort if I may pull the plug far before the 2 million?

Zamboni

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Re: Race from $1M to $2M
« Reply #1396 on: January 24, 2021, 01:53:29 PM »
Welcome to the party, @mistymoney!

You can hang out here and pull the RE plug whenever it suits you.

Dicey

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Re: Race from $1M to $2M
« Reply #1397 on: January 25, 2021, 05:01:24 AM »
Welcome to the party, @mistymoney!

You can hang out here and pull the RE plug whenever it suits you.
+1.

Mistymoney, you're about to discover the real magic of compound interest. Even if you stop adding to your stache, it's going to keep growing. A long as you're well invested, it's just a matter of time until you hit the next million milestone. If you scroll through these "Race" threads, especialy the higher ones, you'll see the second million often takes about half the time the first one did. You've got this!
« Last Edit: January 25, 2021, 10:45:58 AM by Dicey »

mistymoney

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Re: Race from $1M to $2M
« Reply #1398 on: January 25, 2021, 08:55:29 AM »
Thanks all! It is seeming a little surreal to me still this week. The rapid run up the past year makes it seem much more ephermeral.

Super thanking my younger self for her sacrifices. And super thankful I got the message in my hardscrabble, single mother existance to start saving - when giving up $50 a paycheck really hurt. Still not sure if I should have made those sacrifices on a family level, but they are really starting to pay off as Dicey metioned.

Not sure how long this market is going to ride the bull, but ooking forward to watching the stache grow :)

asauer

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Re: Race from $1M to $2M
« Reply #1399 on: January 29, 2021, 08:04:20 AM »
Update:
Jan 2020: 852k
June 2020: 850k
Sept 2020: 1,057k
Dec 2020: 1,110k

Jan 1 2021: 1,145k
Feb 1 2021: 1,173k

Got my semi annual bonus so I was able to drop a nice fat deposit in the market this morning!  I also received a promotion at work to VP (they don't know I will only be working another year (12 months from today actually).  I wasn't going after this promotion but it comes with another 19k in compensation so, sure, I'll take it.  It's a more tedious job but I can do anything for a year.