Author Topic: Race from $1M to $2M  (Read 434754 times)

Trifele

  • Magnum Stache
  • ******
  • Posts: 4384
  • Age: 55
  • Location: Outside, NC, US
    • In The Garden
Re: Race from $1M to $2M
« Reply #1750 on: November 02, 2021, 03:35:51 AM »
Hola, folks!  Just graduated the last thread so peeking my head in over here.  I may never graduate this thread since I plan on FIRE around 1.5-1.75M but that should take a couple years at least.

Bienvenida @afuera!  I won't ever graduate since I pulled the plug at well under $1M, but you might if you FIRE with a stash like that.  It can keep growing afterwards.  Well done!

dreadmoose

  • Bristles
  • ***
  • Posts: 278
  • Age: 34
  • Location: Canada
  • Compounding
Re: Race from $1M to $2M
« Reply #1751 on: November 02, 2021, 03:11:09 PM »
                       2016                2017                2018                2019                2020                2021                2022               
January 
--$25,189$116,236$230,742$402,238$820,660-
February 
--$24,977$122,183$244,321$389,937$858,606--
March 
Found MMM->
-$21,759$122,763$252,749$359,271$895,439-
April 
--$15,838$129,950$263,657$441,401$977,817-
May 
-$7,447$149,174$252,690$482,281$1,236,938-
June 
-$16,623$154,992$287,639$499,025$1,273,559-
July 
-$19,048$27,638$167,846$299,427$540,432$1,314,180-
August 
-$18,739$39,025$180,481$313,257$571,960$1,368,388-
September 
-$21,536$49,626$185,098$321,358$582,947$1,333,026
October 
-$25,832$59,438$194,857$336,179$582,543$1,394,875-
November 
-$25,621$71,949$205,772$351,985$658,773--
December 
-$25,405$110,473$212,859$385,426$796,160--

Saved $20,970 and went up by $61,849. And now I've completely forgotten that it went down last month. Yay free money.

Zero offers on our listed condo, so we'll have to take more of a bath on that than hoped it appears.

Only tracking personal liquid stash and do not include my wife's savings or any Real Estate equity at this point

OurTown

  • Handlebar Stache
  • *****
  • Posts: 1298
  • Age: 52
  • Location: Tennessee
Re: Race from $1M to $2M
« Reply #1752 on: November 02, 2021, 04:36:20 PM »
April 2021 = $1,004
May 2021 = $1,070
June 2021 = $1,054
July 2021 = $1,070
August 2021 = $1,088
September 2021 = $1,104
October 2021 = $1,083
November 2021 = $1,116

Present Muse

  • 5 O'Clock Shadow
  • *
  • Posts: 11
Re: Race from $1M to $2M
« Reply #1753 on: November 02, 2021, 05:54:28 PM »
I typically don't save this info more than once per year so I only have historical data for each January for the past several years.  Do others here find it helpful to store this monthly, like I see in others post?  Anyway, here's my annual data for the past 4 years and then current numbers.  I only found MMM in May of 2020 so I guess I'm pretty fortunate to be where I am.

I guess technically I'm in the $2M to $4M race now, but I'll bet that I'll swing in and out of the $1 to $2M race for a little while.

Date  LNW  TNW
Jan-18  $1.00 MM  $1.90 MM
Jan-19   $1.04 MM  $2.13 MM
Jan-20  $1.34 MM  $2.64 MM
Jan-21  $1.70 MM  $3.22 MM
Oct-21  $2.05 MM  $3.98 MM

RWD

  • Walrus Stache
  • *******
  • Posts: 5376
  • Location: Mississippi
Re: Race from $1M to $2M
« Reply #1754 on: November 02, 2021, 08:44:06 PM »
I typically don't save this info more than once per year so I only have historical data for each January for the past several years.  Do others here find it helpful to store this monthly, like I see in others post?
I don't go out of my way to record our net worth specifically. Instead I track everything in GnuCash and can make reports of whatever I want over any time period/intervals. That way if I think of a new thing I'd like to track I already have the historical data available.

Dave1442397

  • Handlebar Stache
  • *****
  • Posts: 1433
  • Location: NJ
Re: Race from $1M to $2M
« Reply #1755 on: November 03, 2021, 01:40:30 PM »
We bought a car last month, and our net worth went up more than the cost of the car. I like months like that.

            Investments   Total Net Worth
01/21  $715,830.12    $912,413.11
02/21  $726,985.41    $922,907.25
03/21  $747,745.59    $945,640.31
04/21  $761,337.21    $961,267.68
05/21  $787,057.51    $988,285.27
06/21  $796,402.24    $1,023,030.09
07/21  $818,623.08    $1,046,959.73
08/21  $831,474.82    $1,061,158.72
09/21  $856,243.23    $1,087,504.51
10/21  $832,731.09    $1,065,939.74
11/21  $880,725.17    $1,113,350.43

Watchmaker

  • Handlebar Stache
  • *****
  • Posts: 1401
Re: Race from $1M to $2M
« Reply #1756 on: November 03, 2021, 04:41:45 PM »
Do others here find it helpful to store this monthly, like I see in others post?

I don't think it's particularly useful, I am mostly doing it out of impatience.
« Last Edit: November 03, 2021, 11:27:38 PM by Watchmaker »

WesternAugust

  • 5 O'Clock Shadow
  • *
  • Posts: 10
Re: Race from $1M to $2M
« Reply #1757 on: November 03, 2021, 09:18:36 PM »
07/23/21 Cash & investments: $1,010,510
09/02/21 Cash & Investments: $1,056,104
11/03/21 Cash & Investments: $1,097,920

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 6929
  • Age: 2
  • Location: Earth
  • K Thnx Bye
Re: Race from $1M to $2M
« Reply #1758 on: November 04, 2021, 06:35:46 AM »
*opens door slightly and whispers*

i was told there are cookies and millionaire bars here.....

If these gains stick through the end of the month I'll be making the jump from the $500k->$1M thread on 12/1, how is it in here?  Is the water warm?

Dave1442397

  • Handlebar Stache
  • *****
  • Posts: 1433
  • Location: NJ
Re: Race from $1M to $2M
« Reply #1759 on: November 04, 2021, 06:41:23 AM »
*opens door slightly and whispers*

i was told there are cookies and millionaire bars here.....

If these gains stick through the end of the month I'll be making the jump from the $500k->$1M thread on 12/1, how is it in here?  Is the water warm?

It's nice, come on in!

Trifele

  • Magnum Stache
  • ******
  • Posts: 4384
  • Age: 55
  • Location: Outside, NC, US
    • In The Garden
Re: Race from $1M to $2M
« Reply #1760 on: November 04, 2021, 06:49:22 AM »
*opens door slightly and whispers*

i was told there are cookies and millionaire bars here.....

If these gains stick through the end of the month I'll be making the jump from the $500k->$1M thread on 12/1, how is it in here?  Is the water warm?

Heck yeah!  Come on in @2Birds1Stone!

pasadenafr

  • Stubble
  • **
  • Posts: 207
  • Age: 47
  • Location: Upper Left Corner, USA
Re: Race from $1M to $2M
« Reply #1761 on: November 04, 2021, 08:27:47 AM »
*opens door slightly and whispers*

i was told there are cookies and millionaire bars here.....

If these gains stick through the end of the month I'll be making the jump from the $500k->$1M thread on 12/1, how is it in here?  Is the water warm?

I'm in for the cookies! I just passed the entry exam yesterday, so I'll be jumping in with you next month if it holds!
« Last Edit: November 04, 2021, 11:11:55 AM by pasadenafr »

Watchmaker

  • Handlebar Stache
  • *****
  • Posts: 1401
Re: Race from $1M to $2M
« Reply #1762 on: November 04, 2021, 08:37:38 AM »
Welcome 2Birds1Stone and pasadenafr

I'm hoping to graduate from the group this month, so I just wanted to let you know I'm not leaving just because you showed up. ;)
« Last Edit: November 04, 2021, 08:58:00 AM by Watchmaker »

iluvzbeach

  • Pencil Stache
  • ****
  • Posts: 935
Re: Race from $1M to $2M
« Reply #1763 on: November 04, 2021, 08:53:36 AM »
@2Birds1Stone @pasadenafr - you are both warmly welcomed into the group. However…if your entry effs things up for the rest of us, we’re going to have a real problem. ;)

caracarn

  • Handlebar Stache
  • *****
  • Posts: 1791
  • Age: 51
  • Location: Ohio
Re: Race from $1M to $2M
« Reply #1764 on: November 04, 2021, 09:47:39 AM »
                       2014                2015                2016                2017                2018                2019                2020                2021                2022               
January$-$292,190$304,411$437,806$581,831$615,789$767,806$941,921-
February$-$332,002$331,197$162,424$585,663$662,207$735,649$961,753-
March$-$332,209$331,749$481,340$583,773$683,014$683,851$992,700-
April$-$336,743$260,548$483,994$582,862$719,849$734,510$1,031,674-
May$256,131$338,884$373,153$483,982$585,929$701,938$760,661$1,040,313-
June$258,642$321,529$377,807$490,951$590,577$731,170$777,705$1,059,685-
July$276,381$320,767$414,764$503,706$601,024$721,753$819,352$1,080,029-
August$296,700$313,896$405,676$513,111$606,442$686,503$860,605$1,140,206-
September$290,244$301,079$422,204$525,158$610,690$698,968$868,597$1,106,086-
October$274,986$308,291$413,967$533,760$585,817$577,615$868,808$1,182,536-
November$282,762$308,558$419,572$549,074$595,773$620,036$910,235--
December$292,942$312,281$431,458$557,941$575,877$760,501$940,128--

Feeling a bit like we may finally have enough of a cushion that we can comfortably stay in this thread.   The quiet middle where you just follow the plan get pretty dull.   These tracking metrics help to quickly scan across the years and see how that plan is working.  Can see the first $150K increase tracked took 2 years 2 months, then were around 1.5 years for each $150K after that.   The last two jumps is $150K were 9 months and more recently 6 months.   Just amazing to see the increase in speed.  Hoping things keep up and we get to our FIRE target in the next few years and then are at the point where we truly have some interesting choices to make.
« Last Edit: November 04, 2021, 09:53:44 AM by caracarn »

SAfAmBrit

  • Stubble
  • **
  • Posts: 206
  • Age: 50
Re: Race from $1M to $2M
« Reply #1765 on: November 05, 2021, 02:24:43 PM »
May2021 -  $1,003,397
June 2021 - $1.013,773
July 2021 - $1,035,193
August 2021 - $1,238,637
September 2021 - $1,228,412
October 2021 - $1,282,601

pasadenafr

  • Stubble
  • **
  • Posts: 207
  • Age: 47
  • Location: Upper Left Corner, USA
Re: Race from $1M to $2M
« Reply #1766 on: November 05, 2021, 02:57:52 PM »
@2Birds1Stone @pasadenafr - you are both warmly welcomed into the group.

Thank you 🤗

However…if your entry effs things up for the rest of us, we’re going to have a real problem. ;)

I feel like if we still qualify when graduation comes around (december!), we should be good? Hmm. I swear I'll be careful with your stache :)

iluvzbeach

  • Pencil Stache
  • ****
  • Posts: 935
Re: Race from $1M to $2M
« Reply #1767 on: November 05, 2021, 05:25:15 PM »
@2Birds1Stone @pasadenafr - you are both warmly welcomed into the group.

Thank you 🤗

However…if your entry effs things up for the rest of us, we’re going to have a real problem. ;)

Yes, at that point you’ll be in the clear. So far, so good!

I feel like if we still qualify when graduation comes around (december!), we should be good? Hmm. I swear I'll be careful with your stache :)

Zamboni

  • Magnum Stache
  • ******
  • Posts: 3314
Re: Race from $1M to $2M
« Reply #1768 on: November 06, 2021, 08:54:04 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)
Jan 2021     $1.28MM     $1.56MM     (+$10K)
Feb 2021     $1.30MM     $1.58MM     (+$20K)
Aug 2021     $1.42MM     $1.79MM     (+$120K)
Sept 2021    $1.42MM     $1.79MM     (+$0)
Oct 2021      $1.49MM     $1.88MM     (+$70K)

Somehow I am up multiple hundreds of thousands year over year.
And now I finally understand the phrase "the rich get richer." Huh.

I wish someone had explained all this to me when I was younger . . .

JJ-

  • Pencil Stache
  • ****
  • Posts: 860
Re: Race from $1M to $2M
« Reply #1769 on: November 06, 2021, 09:30:04 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)
Jan 2021     $1.28MM     $1.56MM     (+$10K)
Feb 2021     $1.30MM     $1.58MM     (+$20K)
Aug 2021     $1.42MM     $1.79MM     (+$120K)
Sept 2021    $1.42MM     $1.79MM     (+$0)
Oct 2021      $1.49MM     $1.88MM     (+$70K)

Somehow I am up multiple hundreds of thousands year over year.
And now I finally understand the phrase "the rich get richer." Huh.

I wish someone had explained all this to me when I was younger . . .

I'm not sure if it's just the era we've been a part of or the actual act of saving itself, but yeah the growth is astounding.

I'm looking into some of our contributions and everything we've contributed now accounts for less than half of portfolio value. This is mind-blowing to me for some reason, but also shouldn't surprise me at the same time. I knew about compounding interest, i just never thought it would apply to me.

mies

  • Pencil Stache
  • ****
  • Posts: 637
Re: Race from $1M to $2M
« Reply #1770 on: November 07, 2021, 04:23:14 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 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)
Jan 2021     $1.28MM     $1.56MM     (+$10K)
Feb 2021     $1.30MM     $1.58MM     (+$20K)
Aug 2021     $1.42MM     $1.79MM     (+$120K)
Sept 2021    $1.42MM     $1.79MM     (+$0)
Oct 2021      $1.49MM     $1.88MM     (+$70K)

Somehow I am up multiple hundreds of thousands year over year.
And now I finally understand the phrase "the rich get richer." Huh.

I wish someone had explained all this to me when I was younger . . .

I'm not sure if it's just the era we've been a part of or the actual act of saving itself, but yeah the growth is astounding.

I'm looking into some of our contributions and everything we've contributed now accounts for less than half of portfolio value. This is mind-blowing to me for some reason, but also shouldn't surprise me at the same time. I knew about compounding interest, i just never thought it would apply to me.

I feel the same surprise when looking at my investment account history. I think it's because we don't intuitively understand exponential growth over long time periods. We seem to be hardwired to think about things in a linear fashion over shorter time periods so the results of exponential growth don't seem obvious. Even if we understand exponential growth when we are young, it's on an academic level. We learn enough to pass math class. We don't make the deeper connection that it can have a significant impact on our finances.

Plus, a 20% increase on $1,000,000 is more impressive than 20% on $10,000. One generates multiple years of living expenses. The other is nice to have, but isn't a life changing amount of money so it's easy to ignore.

MrsSpendyPants

  • Stubble
  • **
  • Posts: 124
Re: Race from $1M to $2M
« Reply #1771 on: November 07, 2021, 06:27:33 AM »
I'm at 1.75M as of today but that is largely because we just had our home appraised for a HEL and it went up 100k.  Still will take the win, up $750,000 since July of 2020.

Zamboni

  • Magnum Stache
  • ******
  • Posts: 3314
Re: Race from $1M to $2M
« Reply #1772 on: November 07, 2021, 09:33:14 AM »
^Congrats!

Yeah, the housing market is on a rapid up escalator. I keep telling myself it can't last, but it has lasted in some parts of the world for years, so who knows?

RWD

  • Walrus Stache
  • *******
  • Posts: 5376
  • Location: Mississippi
Re: Race from $1M to $2M
« Reply #1773 on: November 07, 2021, 03:27:41 PM »
I think it's because we don't intuitively understand exponential growth over long time periods. We seem to be hardwired to think about things in a linear fashion over shorter time periods so the results of exponential growth don't seem obvious. Even if we understand exponential growth when we are young, it's on an academic level. We learn enough to pass math class. We don't make the deeper connection that it can have a significant impact on our finances.
I remember in high school I had a teacher run us all through compounding and showed how anyone could be a millionaire by investing something like just $350/month. I don't remember the exact amount, but it was something in that ballpark with the assumption you would contribute to your investments from age 18 to ~60. But while I was intrigued mathematically I had to dismiss it practically because I wasn't making any money at that age anyway. It was roughly a decade later that I finally had enough spare cash to actually get serious about investing and at that point the math requires double the contributions to make up for the lost ten years of compounding...

mies

  • Pencil Stache
  • ****
  • Posts: 637
Re: Race from $1M to $2M
« Reply #1774 on: November 07, 2021, 03:53:23 PM »
I think it's because we don't intuitively understand exponential growth over long time periods. We seem to be hardwired to think about things in a linear fashion over shorter time periods so the results of exponential growth don't seem obvious. Even if we understand exponential growth when we are young, it's on an academic level. We learn enough to pass math class. We don't make the deeper connection that it can have a significant impact on our finances.
I remember in high school I had a teacher run us all through compounding and showed how anyone could be a millionaire by investing something like just $350/month. I don't remember the exact amount, but it was something in that ballpark with the assumption you would contribute to your investments from age 18 to ~60. But while I was intrigued mathematically I had to dismiss it practically because I wasn't making any money at that age anyway. It was roughly a decade later that I finally had enough spare cash to actually get serious about investing and at that point the math requires double the contributions to make up for the lost ten years of compounding...

I remember covering compounding in high school math class too, but it just didn't make the connection to my own saving and investing. It was just an abstract problem to solve for a test.

I'm in the middle of the whole "invest way more now to make up for the fact I didn't do any investing in my 20's" thing. I'm happy with the progress I made over the last several years, but I'm kicking myself for all the money I left on the table.

JJ-

  • Pencil Stache
  • ****
  • Posts: 860
Re: Race from $1M to $2M
« Reply #1775 on: November 07, 2021, 07:26:25 PM »
I think it's because we don't intuitively understand exponential growth over long time periods. We seem to be hardwired to think about things in a linear fashion over shorter time periods so the results of exponential growth don't seem obvious. Even if we understand exponential growth when we are young, it's on an academic level. We learn enough to pass math class. We don't make the deeper connection that it can have a significant impact on our finances.
I remember in high school I had a teacher run us all through compounding and showed how anyone could be a millionaire by investing something like just $350/month. I don't remember the exact amount, but it was something in that ballpark with the assumption you would contribute to your investments from age 18 to ~60. But while I was intrigued mathematically I had to dismiss it practically because I wasn't making any money at that age anyway. It was roughly a decade later that I finally had enough spare cash to actually get serious about investing and at that point the math requires double the contributions to make up for the lost ten years of compounding...

I remember covering compounding in high school math class too, but it just didn't make the connection to my own saving and investing. It was just an abstract problem to solve for a test.

I'm in the middle of the whole "invest way more now to make up for the fact I didn't do any investing in my 20's" thing. I'm happy with the progress I made over the last several years, but I'm kicking myself for all the money I left on the table.

I never covered it in classes, but I always played games like tower defense type things where they were like do you want to pay to upgrade your attack or pay to upgrade interest percent ? I always chose interest percent early on and never had an issue with currency.

catccc

  • Handlebar Stache
  • *****
  • Posts: 1775
  • Location: SE PA
Re: Race from $1M to $2M
« Reply #1776 on: November 10, 2021, 11:12:05 AM »
Hit $1M on 8/9/18
 
12/31/18 $932K
12/31/19 $1.265
12/31/20 $1.606

Random updates from this year:
02/22/21 $1.705
04/06/21 $1.760
09/28/21 $1.832

We bought our first home in July 2021.  Sunk about $117K into that, between the down payment ($103K) and closing costs.  So that slowed us down a bit, and will slow us down a little for the next 30 years since our housing payment went from $1,400 in rent to $1675 for the mortgage, plus another $6,131 in taxes per year.  Plus HOI, plus R&M, plus all the other stuff that you suddenly use $ on when you own a home.  But we are still in good shape!  I am not including any home equity in NW and kinda want to keep it that way...  IDK that we will hit $2M this year, but we will try!

11/10/21 $1.926

We are so close with LNW.  If I add in home equity (IDK, 105K a few payments in?) we are technically at $2M TNW.

I have been saying once we hit $2M we pull the plug.  But I saw a post recently in the choose FI FB group, someone saying they just hit $4M.  And it took them about 3 years to get from $2M to $4M.  Now I'm wondering if I should wait out a few more years to try to get to that.  IDK, there's always the next goal post, "enough" is a hard sell for me these days...
« Last Edit: November 10, 2021, 11:38:31 AM by catccc »

dandarc

  • Magnum Stache
  • ******
  • Posts: 4851
  • Age: 39
Re: Race from $1M to $2M
« Reply #1777 on: November 10, 2021, 11:18:46 AM »
Omy is always more tempting the more money you already have invested.

Think hard about what you want your impact on the world to be, within what is reasonably attainable. Then think about what you need to make that happen. Could be continuing without retirement is the right path for you. Could be pulling the plug fully if what you need to do to live your best life. Very personal, but obtaining this level of security allows you the freedom to really make deliberate choices.

catccc

  • Handlebar Stache
  • *****
  • Posts: 1775
  • Location: SE PA
Re: Race from $1M to $2M
« Reply #1778 on: November 10, 2021, 12:33:09 PM »
I never thought OMY would get harder the more you have.  But I can see this being true.  Yikes.

I'm not sure what I want.  There is so much freedom that comes with this level of financial security.  And also still a lot of concern and unknowns (healthcare, sequence of returns risk).  Continuing to plug away at a bigger number and continually moving the goal post is just the easier thing to do compared to confronting the unknowns, I guess?

couponvan

  • Walrus Stache
  • *******
  • Posts: 7817
  • Location: VA
    • My journal
Re: Race from $1M to $2M
« Reply #1779 on: November 10, 2021, 12:38:10 PM »
The interesting part is when your investments start returning more than you spend in a year, and more than you earn in a year.  Keep an eye out for that, as it's the major sign that you are FI and able to retire when you choose to.  Also, retirement sometimes isn't all it's cracked up to be. It can be boring and lonely if you don't have enough outside interests and friends who are around to do things with. Just my 2 cents.

catccc

  • Handlebar Stache
  • *****
  • Posts: 1775
  • Location: SE PA
Re: Race from $1M to $2M
« Reply #1780 on: November 11, 2021, 10:53:14 AM »
Good points! 

Our investment earnings have outpaced our spending 6 of the last 8 years and outpaced our income for 5 of the last 8 years.  It is really wonderful to see.  But those years when it doesn't quite cut it make me nervous!  Especially now that we are first time homeowners and there's an entirely new category of spending to which we've opened the door.  (Repairs and maintenance, improvements, things we never needed to deal with as renters.)

These days I work 100% remotely and I could easily see subtracting work from my life and really enjoying it.  But I definitely want to be intentional about any big changes.
« Last Edit: November 11, 2021, 02:08:08 PM by catccc »

rebel_quietude

  • Stubble
  • **
  • Posts: 136
  • Age: 36
  • Location: Colorado
Re: Race from $1M to $2M
« Reply #1781 on: November 14, 2021, 05:45:28 PM »

2019         $826,413
2020         $1,019,917
APR 2021  $1,100, 966
AUG 2021 $1,200,662

NOV 2021 $1,253,587

I usually only post here at 100k intervals, but I was excited enough about this number to merit the exception. As of last week, I'm officially at my original FI number. (Now increased significantly, given aspirations of  kids and a VHCOL city, but still!) Almost eleven years in the making, and pretty exciting!
« Last Edit: November 14, 2021, 06:31:10 PM by rebel_quietude »

Extramedium

  • 5 O'Clock Shadow
  • *
  • Posts: 76
Re: Race from $1M to $2M
« Reply #1782 on: November 14, 2021, 05:45:59 PM »
The interesting part is when your investments start returning more than you spend in a year, and more than you earn in a year.  Keep an eye out for that, as it's the major sign that you are FI and able to retire when you choose to.  Also, retirement sometimes isn't all it's cracked up to be. It can be boring and lonely if you don't have enough outside interests and friends who are around to do things with. Just my 2 cents.

Surely these are the Good Old Days, right?  At least in the FI journey.  As for the RE part, well, it's really a separate question.  They're so often linked as though one is always with the other, but I expect it's usually not that simple.

AccidentalMiser

  • Pencil Stache
  • ****
  • Posts: 705
  • Age: 54
  • Location: SE Tenn
Re: Race from $1M to $2M
« Reply #1783 on: November 15, 2021, 12:42:19 PM »
Hit 1.2 M today for the first time.  Market is scary but I'm going to hold fast and keep pouring it in every two weeks.  1049 days to RE.  Maybe sooner but I think I should wait until the year I turn 55.

1.3 M today.  Investments have done well over the past month.

Just hit 1.5 M TNW today.  Solidifying on 1/2/2023 as final retirement day.  Three years from tomorrow barring serious market disaster or other unforeseen consequences.

1.8 M TNW as of Friday, 6-4-2021.  1 M LNW first reached on 12-15-2020 and again on 4-15-2021.  Retirement slated for 4/3/2023.

1.87M TNW and 1.2M LNW on 8-15-21

This MMM method seems to be working!
1.975 M TNW which will roll over 2M next week with the annual bonus.  Investments doing well, still on path for RE on 4/3/23.

couponvan

  • Walrus Stache
  • *******
  • Posts: 7817
  • Location: VA
    • My journal
Re: Race from $1M to $2M
« Reply #1784 on: November 16, 2021, 07:46:25 AM »
The interesting part is when your investments start returning more than you spend in a year, and more than you earn in a year.  Keep an eye out for that, as it's the major sign that you are FI and able to retire when you choose to.  Also, retirement sometimes isn't all it's cracked up to be. It can be boring and lonely if you don't have enough outside interests and friends who are around to do things with. Just my 2 cents.

Surely these are the Good Old Days, right?  At least in the FI journey.  As for the RE part, well, it's really a separate question.  They're so often linked as though one is always with the other, but I expect it's usually not that simple.
LOL. We have two children in OOS college in CA and one more to launch 2023 likely in OOS college. It’s one of our biggest financial commitments, and until our youngest decides which colllege and the final tally, the RE for my husband is on the back burner. It’s a decision my husband made (I RE’d in 2019 earlier than planned) as he decided to pay for all their college expenses vs just a set number.

Our investments return more than their tuition/living costs, but not enough for our current lifestyle along with college. It’s a choice we have made. Choices are good to have though!

clarkfan1979

  • Magnum Stache
  • ******
  • Posts: 2736
  • Age: 42
  • Location: Pueblo West, CO
Re: Race from $1M to $2M
« Reply #1785 on: November 16, 2021, 03:51:09 PM »
Total Net Worth

2011: zero
2012: 50K
2013: 100K
2014: 162K
2015: 282K
2016: 375K
2017: 457K
2018: 517K
2019: 650K
2020: 850K
2021: 1150K*

*150K is equity in primary home

About 80% is real estate rental equity. I subtracted 7% for realtor fees, if I were to sell.


Extramedium

  • 5 O'Clock Shadow
  • *
  • Posts: 76
Re: Race from $1M to $2M
« Reply #1786 on: November 16, 2021, 05:21:38 PM »
The interesting part is when your investments start returning more than you spend in a year, and more than you earn in a year.  Keep an eye out for that, as it's the major sign that you are FI and able to retire when you choose to.  Also, retirement sometimes isn't all it's cracked up to be. It can be boring and lonely if you don't have enough outside interests and friends who are around to do things with. Just my 2 cents.

Surely these are the Good Old Days, right?  At least in the FI journey.  As for the RE part, well, it's really a separate question.  They're so often linked as though one is always with the other, but I expect it's usually not that simple.

LOL. We have two children in OOS college in CA and one more to launch 2023 likely in OOS college. It’s one of our biggest financial commitments, and until our youngest decides which colllege and the final tally, the RE for my husband is on the back burner. It’s a decision my husband made (I RE’d in 2019 earlier than planned) as he decided to pay for all their college expenses vs just a set number.

Our investments return more than their tuition/living costs, but not enough for our current lifestyle along with college. It’s a choice we have made. Choices are good to have though!

Hear, hear on choices!  I find freedom of choosing your destiny is a great type of freedom.  Isn't that the best thing?  Freedom!

MoneyTree

  • Stubble
  • **
  • Posts: 230
  • Location: SF Bay Area
    • Journal - The Best Time to Plant a MoneyTree
Re: Race from $1M to $2M
« Reply #1787 on: November 17, 2021, 02:28:06 PM »
I'm posting when we pass nice round numbers, rather than at set intervals. Today we just squeaked past a new milestone.

Mid 2019 - First passed $1M
March 2020 - dropped to $840K (covid)
April 2020 - reclaimed $1M
June 2020 - passed $1.1M
August 2020 - passed $1.2M
January 2021 - passed $1.3M
April 2021 - passed $1.4M
August 2021 - passed $1.5M

November 2021 - passed $1.6M

LeftA

  • Stubble
  • **
  • Posts: 104
Re: Race from $1M to $2M
« Reply #1788 on: November 26, 2021, 10:44:56 AM »
Looks like it's just under 6 month since I posted last... was at $1.40M then and am now at $1.577M.

Had some large expenses over the last few months, including some major house repairs. Net worth is now $1.625M

This assumes a very conservative house price, given a similar size house on our street sold for >$400K (!) more than I’ve valued ours. Just don’t believe these housing prices are sustainable so feel more comfortable with my estimate.

OurTown

  • Handlebar Stache
  • *****
  • Posts: 1298
  • Age: 52
  • Location: Tennessee
Re: Race from $1M to $2M
« Reply #1789 on: November 30, 2021, 03:41:10 AM »
April 2021 = $1,004
May 2021 = $1,070
June 2021 = $1,054
July 2021 = $1,070
August 2021 = $1,088
September 2021 = $1,104
October 2021 = $1,083
November 2021 = $1,116
December 2021 = $1,117

dreadmoose

  • Bristles
  • ***
  • Posts: 278
  • Age: 34
  • Location: Canada
  • Compounding
Re: Race from $1M to $2M
« Reply #1790 on: November 30, 2021, 04:27:15 PM »
                       2016                2017                2018                2019                2020                2021                2022               
January 
--$25,189$116,236$230,742$402,238$820,660-
February 
--$24,977$122,183$244,321$389,937$858,606--
March 
Found MMM->
-$21,759$122,763$252,749$359,271$895,439-
April 
--$15,838$129,950$263,657$441,401$977,817-
May 
-$7,447$149,174$252,690$482,281$1,236,938-
June 
-$16,623$154,992$287,639$499,025$1,273,559-
July 
-$19,048$27,638$167,846$299,427$540,432$1,314,180-
August 
-$18,739$39,025$180,481$313,257$571,960$1,368,388-
September 
-$21,536$49,626$185,098$321,358$582,947$1,333,026
October 
-$25,832$59,438$194,857$336,179$582,543$1,394,875-
November 
-$25,621$71,949$205,772$351,985$658,773$1,405,705-
December 
-$25,405$110,473$212,859$385,426$796,160--

Saved $6,336 and went up by $10,830. Didn't feel like a gain from the losses in the last week but I suppose yay.

Zero offers on our listed condo, so we'll have to take more of a bath on that than hoped it appears. [Also had a kid late October and took most of November off work so just treading water is great].

Only tracking personal liquid stash and do not include my wife's savings or any Real Estate equity at this point

ingrownstudentloans

  • Bristles
  • ***
  • Posts: 256
  • Age: 36
Re: Race from $1M to $2M
« Reply #1791 on: November 30, 2021, 08:00:54 PM »
New to this race.  Looking forward to making solid progress in my first 6 months here given an anticipated bonus and my Q1 accelerators (bonus, 401k match, raise).

(tracking retirement accounts, cash accounts and conservative equity in my rental properties and side businesses)

12/2014    $32,000
12/2016    $64,000 (24 months)
1/2018      $128,000 (25 months)
5/2019      $256,000 (16 months)
11/2020  $512,000 (19 months)
12/2021 $1,024,000 (13 months)
[7/2023 $2,048,000 (18 months)] **TARGET**
--
12/1/2021   $1,068,696.90

Trifele

  • Magnum Stache
  • ******
  • Posts: 4384
  • Age: 55
  • Location: Outside, NC, US
    • In The Garden
Re: Race from $1M to $2M
« Reply #1792 on: December 01, 2021, 04:10:19 AM »
Welcome aboard @ingrownstudentloans!


We are FIREd and drawing down.  Tracking cash and retirement investments for LNW; TNW adds in home equity and kids' 529 plans.  So far the LNW is holding up, even through the dips. 

                LNW   /  TNW
4/1/21     $1,004 / $1,673
5/1/21     $1,027 / $1,737
6/1/21     $1,030 / $1,741
7/1/21     $1,034 / $1,746
8/1/21     $1,037 / $1,751
9/1/21     $1,043 / $1,759
10/1/21   $1,007 / $1,719
11/1/21   $1,037 / $1,782
12/1/21   $1,024 / $1,768

YellowCat

  • Bristles
  • ***
  • Posts: 385
  • Age: 32
  • Location: Michigan
Re: Race from $1M to $2M
« Reply #1793 on: December 01, 2021, 04:17:55 AM »
Dec 2019: $1,030,547
Dec 2020: $1,355,244
Mar 2021: $1,455,964
Aug 2021: $1,682,847
Sep 2021: $1,641,323
Oct 2021: $1,715,983
Nov 2021: $1,708,048

It's been a bit of a bumpy month but overall still a great year so far. We're having another baby in December so after the short term disability pays out in December I'm expecting a few leaner months through about April 2022, since we'll be down to one income.

Ladychips

  • Handlebar Stache
  • *****
  • Posts: 1052
Re: Race from $1M to $2M
« Reply #1794 on: December 01, 2021, 05:34:44 AM »
12/17 - $473,407     $697,411
12/18 - $480,550     $732,108
12/19 - $669,819     $943,739
12/20 - $868,659     $1,159,159

01/21 - $873,464     $1,163,867
02/21 - $904,761     $1,197,361
03/21 - $937,653     $1,230,984
04/21 - $992,853     $1,288,099
05/21 - $1,001,090  $1,297,835
06/21 - $1,028,157  $1,326,302
07/21 - $1,065,833  $1,365,255
08/21 - $1,054,280  $1,354,989
09/21 - $1,011,867  $1,313,685
10/21 - $1,067,070  $1,367,952

11/21 - $1,057,747  $1,369,025

Although I hate down months (and I've seen some since I retired), we are up significantly over the year.  All we do now is rock along.  I believe I'm going to have to continue to track for a couple of years, but I can see a day where I don't track monthly anymore.

Arbitrage

  • Handlebar Stache
  • *****
  • Posts: 1129
Re: Race from $1M to $2M
« Reply #1795 on: December 01, 2021, 06:33:33 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
4/1/20: $810k / 1.278M
7/1/20: $1.042M / 1.524M
10/1/20: $1.138M / 1.641M
1/1/21: $1.370M / 1.883M
2/1/21: $1.392M / 1.914M
3/1/21: $1.451M / 1.973M
4/1/21: $1.434M / 2.010M
5/1/21: $1.476M / 2.053M
6/1/21: $1.519M / 2.086M
7/1/21: $1.510M / 2.124M
8/1/21: $1.510M / 2.125M
9/1/21: $1.942M / 2.135M
10/1/21: $1.884M / 2.076M
11/1/21: $1.953M / 2.220M
12/1/21: $1.918M / 2.178M

Tantalizingly close to the milestone before getting crushed over the last week and a half. 

afuera

  • Bristles
  • ***
  • Posts: 487
  • Age: 30
  • Location: Stuck in an office, behind a screen, underneath fluorescent lights
Re: Race from $1M to $2M
« Reply #1796 on: December 01, 2021, 08:20:12 AM »
Investments Only

                       2015                2016                2017                2018                2019                2020                2021               
January$12,964$53,694$117,156$286,460$366,568$554,279$789,070
February$14,893$57,320$130,755$284,267$388,104$530,928$829,754
March$22,065$71,035$150,924$291,192$415,305$575,079$873,947
April$24,785$75,120$161,757$306,848$429,917$529,397$925,944
May$26,931$87,541$171,174$317,739$416,867$573,991$938,401
June$29,021$90,964$191,558$321,370$458,412$607,523$952,115
July$31,341$93,025$210,018$339,122$459,062$630,288$962,887
August$34,251$95,245$220,293$353,410$466,936$686,631$998,422
September$39,854$97,814$231,801$361,506$481,531$669,786$970,317
October$42,018$98,335$242,954$336,674$499,757$663,596$1,023,332
November$45,987$100,344$256,324$356,143$528,712$743,883$1,025,096
December$49,877$106,390$265,731$332,761$548,679$779,415-


Pretty much broke even this month with normal saving/investing.  I did just lower my Mega Backdoor Roth down to 0% for the first time in 4ish years.  Feels weird but we are letting our stash ride while we build some more cash savings now that we are a one-income household.  We are still maxing out all other tax-advantaged accounts but its definitely a mentality shift to not invest ALL our money. 

thedigitalone

  • Stubble
  • **
  • Posts: 168
  • Location: PNW
Re: Race from $1M to $2M
« Reply #1797 on: December 01, 2021, 11:50:08 AM »
                LNW         TNW   
12/2019    $0.96M     $1.43M
12/2020    $1.39M     $1.91M

01/2021    $1.43M     $1.96M
02/2021    $1.45M     $2.00M
03/2021    $1.50M     $2.05M
04/2021    $1.48M     $2.049M
06/2021    $1.58M     $2.29M
07/2021    $1.63M     $2.45M
08/2021    $1.69M     $2.49M
09/2021    $1.74M     $2.53M
10/2021    $1.67M     $2.46M
11/2021    $1.79M     $2.56M
12/2021    $1.80M     $2.60M

Weird year, but I'll take it.
« Last Edit: December 01, 2021, 01:36:43 PM by thedigitalone »

on the road

  • 5 O'Clock Shadow
  • *
  • Posts: 35
Re: Race from $1M to $2M
« Reply #1798 on: December 02, 2021, 05:07:16 AM »
Liquid net worth

      2020       2021
Jan              $1,428K
Feb     $984K    $1,463K
Mar     $883K    $1,501K
Apr     $721K    $1,720K
May   $1,092K    $1,793K
Jun              $1,828K
Jul              $1,841K
Aug   $1,217K    $1,860K
Sep   $1,260K    $1,906K
Oct   $1,265K    $1,866K
Nov   $1,253K    $1,951K
Dec   $1,375K    $1,911K

3Mer

  • Bristles
  • ***
  • Posts: 278
  • Location: Midwest
Re: Race from $1M to $2M
« Reply #1799 on: December 02, 2021, 08:51:13 AM »
Month End Updates

Liquid assets / Net worth

Dec 2017  $392.7K / $484.9K
Dec 2018  $476.8K / $554K
Dec 2019   $621.3K / $703.1K
Dec 2020   $804.3K / $889.2K
Jan 2021   $809.6K / $895K
Feb 2021   $829.7K / $915.7K
Mar 2021   $855K / $941.5K
Apr 2021   $892K / $979.8K
May 2021  $903.9K / $991.7K
Jun 2021   $916.2K / $1004.7K
July 2021  $927.6K / $1016.9K
Aug 2021  $946K / $1035.8K
Sept 2021 $920.2K / $1010.4K
Oct 2021   $955.3K / $1045.5K
Nov 2021  $939.2K / $1029.9K