The Money Mustache Community

General Discussion => Throw Down the Gauntlet => Topic started by: bluerunner on August 23, 2016, 02:00:22 AM

Title: Race from $1M to $2M
Post by: bluerunner on August 23, 2016, 02:00:22 AM
Enjoyed reading the other race threads!

I am 39yr old, married.  I work in technology operations, wife works in education.

Numbers below exclude current residence.

April 2015 - hit $1M (yay! big milestone for us :)
August 2016 - $1.2M

Happy investing!
Title: Re: Race from $1M to $2M
Post by: TheAnonOne on August 23, 2016, 09:18:28 AM
My #Number is 1.4M to 1.625M, but I only have ~230k invested (330k+ total) right now. (though increasing fast)

I think you'll find that MOST here never plan on hitting 2 million and quite a few are done in the 750k zone.

By the time I can officially join this race, you'll probably be done! (another 6-8 years or so...)
Title: Re: Race from $1M to $2M
Post by: MishMash on August 23, 2016, 11:32:47 AM
I'll join in too, our number is 2 million (not including DHs pension).  Stupid high for this forum, I know, DH still isn't 100% on the frugality thing, and we plan on living in a HCOL area.  DH also has to do 5 more years to secure the lifelong health care and pension sooo why not continue to build the stash.

33 (me) and 36 (DH) here TNW 1.34 Investable 1.21

And before anyone asks, we don't include DHs pension in the calculations because if he gets booted prior to his 20 year mark he gets zip, nada, nilch.  So until he hits that 20 year mark we have chosen to not include it in NW or income calculations since it is not a sure thing.
Title: Re: Race from $1M to $2M
Post by: bluerunner on August 24, 2016, 12:13:26 AM
It's fun to support & encourage one another on this journey.

@TheAnonOne Good to know.  I'm curious if there is better forum for this race?  You will join us soon enough, especially if this market keeps grinding higher & higher!

@Mishmash Thanks for joining & sharing your progress!
Title: Re: Race from $1M to $2M
Post by: OurTown on August 24, 2016, 07:57:14 AM
Good luck to these participants!  Before anyone gets all self righteous, a 4% SWR on $2 million is only $80,000 per year. 

FWIW I think my magic number will be a modest $1.25 million.
Title: Re: Race from $1M to $2M
Post by: TheAnonOne on August 24, 2016, 10:07:13 AM
It's fun to support & encourage one another on this journey.

@TheAnonOne Good to know.  I'm curious if there is better forum for this race?  You will join us soon enough, especially if this market keeps grinding higher & higher!

@Mishmash Thanks for joining & sharing your progress!

Nope, I think this forum is the perfect spot. Just my thoughts on the matter. For a lot of people here it might as well be the "Race from 10 million to 1 billion"

Like I said though, I will be in this high 1-2 zone in another 6-10 years, so it's technically a race for me, but one I can't join yet!
Title: Re: Race from $1M to $2M
Post by: boarder42 on August 24, 2016, 10:18:32 AM
this is the right place.  my number is around 2MM we spend around 50-60k plus our mortgage.  but we wont hit 1MM til 2020 so it will be awhile before we're here.
Title: Re: Race from $1M to $2M
Post by: chesebert on August 24, 2016, 10:24:06 AM
Good luck to these participants!  Before anyone gets all self righteous, a 4% SWR on $2 million is only $80,000 per year. 

FWIW I think my magic number will be a modest $1.25 million.

I completely understand how hard it is to live on $80k a year. Just yesterday, I had a friend showing me $400k is barely enough in his neck of the woods. Why stop at $2M when you can march onto $8-10M, you are almost halfway there already!
Title: Re: Race from $1M to $2M
Post by: RetirementDreaming on August 24, 2016, 10:29:55 AM
I'll join.  2M is higher than I expect to go.  Our FIRE number is 1.6M (investable assets) but who knows 2M may be possible.  I'll be under 50 when I retire and might go a year or so more.  After 20 years with my employer I just can't think I'll walk away.  I want some sort of package or lay me off so I can collect unemployment for 6 months.  Either one of those options is likely but I need the timing to work out.  We are at 985K today.  I was hoping to hit 1M by the end of August but looks like I will fall short.
Title: Re: Race from $1M to $2M
Post by: rahby1us on August 24, 2016, 02:44:28 PM
1.47M invested
74 cash

Plan is to FIRE at the end of Jan, if the market doesn't move either way, with a 3.26% WR. Should be able to continue contributing until then, but hoping the market doesn't peak within 6 months before or after bon voyage!
Title: Re: Race from $1M to $2M
Post by: boarder42 on August 24, 2016, 02:57:11 PM
1.47M invested
74 cash

Plan is to FIRE at the end of Jan, if the market doesn't move either way, with a 3.26% WR. Should be able to continue contributing until then, but hoping the market doesn't peak within 6 months before or after bon voyage!

3.26% SWR is ultra safe with the current Shiller PE ratio you'll be fine regardless of whether or not it peaks then. sitting around a 3.7 right now
Title: Re: Race from $1M to $2M
Post by: marty998 on August 24, 2016, 04:17:23 PM
I may be joining this race at the end of next year if all goes well. How long will it take after that? Perhaps 6 more years assuming current trajectory.

It's hard to predict compounding.
Title: Re: Race from $1M to $2M
Post by: webguy on August 24, 2016, 07:53:54 PM
Count me in. I love these threads as I like seeing progress over time.  I'm carrying over my progress from the 500k-1m thread if that's OK..

I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

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

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

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

Currently at $1.11m.  Don't really have a goal number at this point. I love running my own business so just tryna ride it out as long as possible and "make hay while the sun shines" as they say.
Title: Re: Race from $1M to $2M
Post by: dogboyslim on August 26, 2016, 09:52:29 AM
Our number is 2.5M liquid (currently at 1.3 tax sheltered).  I track debt reduction and contributions rather than net worth at this point since swings in the market dominate any changes in my net worth.  One month I did a great job of contributing, doubling the normal contribution, but my net worth dropped $62k due to market declines.  The next month I did terribly but my net worth made back all that loss and then some.  So I don't mean to put a downer on your goal here, but do realize that unless your income is REALLY high, your month to month changes will be subject more to the market whims than to responsible behavior.

(I'm assuming an invested asset base rather than a RE asset base here.  I don't know enough about RE to comment.)
Title: Re: Race from $1M to $2M
Post by: Bateaux on August 27, 2016, 08:58:36 PM
Approaching 1.5M plus real estate.   Goal is 2M going to FIRE by 50 so no later than Spring 2019.  Hopefully no later than 2018.
Title: Re: Race from $1M to $2M
Post by: Goldy on August 30, 2016, 06:26:17 AM
We are approaching 1.2M Net Worth with 1.05 invested.  Our goal has always been 2.4M but I have recently started to realize that we spend way less than 100k per year that I was budgeting for so our number may be significantly less than 2.4, maybe closer to the mid 1's 

Its amazing how fast the NW number can grow with a firehose of 10k/mo going to investments and now that my invested portion has some size to it the market gains can be really fun to watch. 

My goal is to retire by the time we are 40 in 8 years and barring some finacial disaster I think we are in good shape to hit that.
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on August 30, 2016, 07:19:25 AM
.....now that my invested portion has some size to it the market gains can be really fun to watch.  .....

Also "fun" to watch drop, in a roller coaster sort of way.   The key is to joyfully anticipating the bottom for juicy buying opportunities, instead of feeling the paper losses.

Us, 1.7M, goal of 2M as "enough".   

Another goal is to withdraw/spend ~70k and pay no taxes for a year.
Title: Re: Race from $1M to $2M
Post by: muckety_muck on September 01, 2016, 03:21:10 PM
We just passed $1M for the first time this month, and plan to work another 5-6 years based on our vested retirement balances, healthcare at current jobs continuing in retirement, etc. so we're not really trying to hit $2M necessarily, but it likely the number we will be very close to mid-2022 when we plan to FIRE.

Count us in! :)
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on October 26, 2016, 06:29:23 PM
I'll join as well. 

I'm just under 1.1 million right now and will likely reach 2 million if I continue to my full retirement age for my Pension and reduced Health Care for Life.  There is a chance that I'll say f* that if I feel that I can live the like I want to before that though.

ETA:  even though I'm vested I don't pay attention to my pension other than to calculate how much I am eligible for.  I don't count it as part of my net worth at this time.
Title: Re: Race from $1M to $2M
Post by: Koogie on October 26, 2016, 06:45:20 PM
Hit 7 figs in August 2008.  Took 6 years to go from approx.  -200k to there.   
Semi retired in September 2015.
Currently at 1.95 and holding, holding, holding.  Hoping to hit 2.0 in May 2018 and retire at 45.


p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.
Title: Re: Race from $1M to $2M
Post by: marty998 on October 27, 2016, 01:21:54 AM
Hit 7 figs in August 2008.  Took 6 years to go from approx.  -200k to there.   
Semi retired in September 2015.
Currently at 1.95 and holding, holding, holding.  Hoping to hit 2.0 in May 2018 and retire at 45.


p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.

Are you ok? Anger won't solve this. Let it go... you can't argue with the internet.

How did you get from -200 to +1000 in 6 years? Thats a big gain. Also... why do you think it will take 18 months to get the remaining 50k from 1.95 to 2.00?
Title: Re: Race from $1M to $2M
Post by: boarder42 on October 27, 2016, 05:42:25 AM
Hit 7 figs in August 2008.  Took 6 years to go from approx.  -200k to there.   
Semi retired in September 2015.
Currently at 1.95 and holding, holding, holding.  Hoping to hit 2.0 in May 2018 and retire at 45.


p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.

Are you ok? Anger won't solve this. Let it go... you can't argue with the internet.

How did you get from -200 to +1000 in 6 years? Thats a big gain. Also... why do you think it will take 18 months to get the remaining 50k from 1.95 to 2.00?

my guess would be when he semi retired he dropped down to just working to sustain his lifestyle and let his stash grow.  though that is projecting super conservative market gains over the next 18 months.
Title: Re: Race from $1M to $2M
Post by: Koogie on October 27, 2016, 10:50:07 AM
Are you ok? Anger won't solve this. Let it go... you can't argue with the internet.
How did you get from -200 to +1000 in 6 years? Thats a big gain. Also... why do you think it will take 18 months to get the remaining 50k from 1.95 to 2.00?

Not particularly angry but you are right. Let morons be morons.. :o)

That is the time when I started my business (2003).  Man, those years were roaring and we were making money hand over fist.  But of course the recession ended that party.   
It probably won't take 18 mos. to make that next 50K but I prefer to be conservative in my plans.  Avoids disappointment... :o)
Title: Re: Race from $1M to $2M
Post by: Koogie on October 27, 2016, 10:51:47 AM
my guess would be when he semi retired he dropped down to just working to sustain his lifestyle and let his stash grow.  though that is projecting super conservative market gains over the next 18 months.

Right on the nose.  We are also drawing a bit from the dividend stream to supplement the "salary" so that slows down growth a bit as well.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on October 28, 2016, 01:21:34 PM

I think you'll find that MOST here never plan on hitting 2 million and quite a few are done in the 750k zone.


This leads me to wonder if people who are done with $750K have income from real estate and/or pensions? I do not have a pension and would not feel comfortable retiring with only $750K. That's why I ask.

Title: Re: Race from $1M to $2M
Post by: Metric Mouse on November 01, 2016, 01:28:46 AM

I think you'll find that MOST here never plan on hitting 2 million and quite a few are done in the 750k zone.


This leads me to wonder if people who are done with $750K have income from real estate and/or pensions? I do not have a pension and would not feel comfortable retiring with only $750K. That's why I ask.

No pension or RE for me. (Besides primary residence.)
Title: Re: Race from $1M to $2M
Post by: Libertea on November 01, 2016, 06:46:30 AM
p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.
Besides the fact that it's rude to judge others on their goals, those who think $2 million is way more than they'd ever need to save for retirement also ought to take into account the effect of inflation.   It's all well and good to want to retire on $750k in current dollars.  But if you're in your 30s or even your 40s at FIRE, you could easily have a 50-60 year retirement life expectancy.  Over that time, your $750k will need to become much greater as your money becomes worth less.  In fact, you would likely need to exceed the $1 million mark within a decade or so after FIRE, depending on what you assume for a rate of inflation.

My goal for FI is $800k in 2015 dollars, and I am assuming a 3.5% inflation rate.  This means that I will need to have accumulated $1 million in 2022, and $2 million within about 27 years.  Since I'm only 41 now, yes, I intend to live long enough to need to accumulate $2 million.  And I won't even be collecting SS yet when I do!
Title: Re: Race from $1M to $2M
Post by: chesebert on November 01, 2016, 06:26:44 PM
Where do I sign up for race to 10 million?
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on November 01, 2016, 07:57:57 PM
p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.
Besides the fact that it's rude to judge others on their goals, those who think $2 million is way more than they'd ever need to save for retirement also ought to take into account the effect of inflation.   It's all well and good to want to retire on $750k in current dollars.  But if you're in your 30s or even your 40s at FIRE, you could easily have a 50-60 year retirement life expectancy.  Over that time, your $750k will need to become much greater as your money becomes worth less.  In fact, you would likely need to exceed the $1 million mark within a decade or so after FIRE, depending on what you assume for a rate of inflation.

I'm pretty sure the 4% rule covers this. So that's one less worry.
Title: Re: Race from $1M to $2M
Post by: ysette9 on November 01, 2016, 08:44:12 PM
Quote
Besides the fact that it's rude to judge others on their goals, those who think $2 million is way more than they'd ever need to save for retirement also ought to take into account the effect of inflation.

Yes, as another poster hinted at, the math on this doesn't add up at all unless you are keeping your $750K in cash under your mattress. Keep it invested in a reasonable asset allocation with at least 50% equities and you should more than keep up with inflation. Read the sticky thread on why you shouldn't worry about the 4% rule for more details.

Back to the original thread, I'd love to join this race! We hit the $1M mark just around the time our baby was born in the middle of 2014. We are somewhere in the neighborhood of $1.35M right now. We don't have a number firmed up quite yet (haven't figured out the housing thing yet), but would like to call it quits by 2020. Let's see where this ride takes us. :)
Title: Re: Race from $1M to $2M
Post by: Libertea on November 02, 2016, 07:21:56 PM
I understand that a balanced investment portfolio will (theoretically) keep up with inflation over the long term if one's withdrawal rate is sufficiently conservative.  I'm not advocating for having to actually CONTRIBUTE $2 million to one's retirement account if one plans to FIRE now, just pointing out that $2 million in assets isn't all that astronomical of an amount to accumulate over the multi-decade lifespan of many people who are posting here.  Even without assuming doomsday hyperinflation types of scenarios, many of us will ultimately have and need assets of $2 million or more if we reach our full lifespans.  At a 3.5% inflation rate, you will need roughly twice your current amount of assets every 20 years or so to maintain the same lifestyle.  So a 30 or 40-year-old who needs $750,000 now almost certainly will need to eventually accumulate $2 million if they live long enough.  That this growth comes via market gains instead of further contributions is besides the point, unless you are suggesting that only people who are still making contributions from their paychecks should be posting in this thread.
Title: Re: Race from $1M to $2M
Post by: lostamonkey on November 02, 2016, 08:48:20 PM
I don't think some of the previous posters understand the 4% rule. The 4% rule assumes you increase your annual spend and annual draw from your investments by the rate of inflation each year. The risk of going broke at a given SWR does increase as you increase your estimated retirement period from the traditional 25 years to 40+ years but this increase in risk is pretty minor.
Title: Re: Race from $1M to $2M
Post by: Bateaux on November 05, 2016, 09:41:39 PM
One more year syndrome may go on for a while for me.  The larger the portfolio gets, the easier it is to go to work.  I get my sixth week of vacation next year's, that's going to make it even easier.  The market hasn't really added any huge gains since we hit the 1.5M investment equities mark.   Bob Brinker calls it Critical Mass.  There is no requirement to retire, you have the option of throttling back a bit at work and watching your assets grow. Maybe take a lesser paying job you always wanted just to cover day to day expenses.
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on November 06, 2016, 12:31:27 AM
I don't think some of the previous posters understand the 4% rule. The 4% rule assumes you increase your annual spend and annual draw from your investments by the rate of inflation each year. The risk of going broke at a given SWR does increase as you increase your estimated retirement period from the traditional 25 years to 40+ years but this increase in risk is pretty minor.

The increase in risk is minor and the upside is HUGE!
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on January 01, 2017, 07:20:42 PM
Hello, everyone!  This is a fun thread to join.  As of December 15, 2016 I am at $1,114,912.

Looking forward to following everyone's journeys to $2MM!
Title: Re: Race from $1M to $2M
Post by: mr_orange on January 01, 2017, 08:13:14 PM
We're currently just north of $1.4M.  Our geometric average growth rate over the last 13 years has been 18.6%, which means we double our net worth roughly every 4 years.  My lower-bound FIRE number is 1.586M and our upper-bound number is around $2.5M.   So FIRE should be in the cards in the next 4 years.  A lot depends on how much I want to de-risk everything before we start working on our companies full time.
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on January 01, 2017, 09:03:16 PM
I'm joining as of today I have $1 million liquid and am now setting my sights  of course on getting to the next milestone which I'm hoping will come much sooner. Thanks Cornbread for sharing this thread!
Title: Re: Race from $1M to $2M
Post by: Koogie on January 02, 2017, 09:28:25 AM
my guess would be when he semi retired he dropped down to just working to sustain his lifestyle and let his stash grow.  though that is projecting super conservative market gains over the next 18 months.
Right on the nose.  We are also drawing a bit from the dividend stream to supplement the "salary" so that slows down growth a bit as well.

Well, that happened a lot faster than it should have.  Just squeaked over the top based on figures from the 30th. Much of it thanks to the the post election bump in the US.   So a lot of those gains could evaporate as quickly as they accrued.
Nevertheless, the view is fine and I'm going to enjoy it today (while the markets are closed... lol)
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on January 02, 2017, 12:06:22 PM
Congrtas, Koogie. I'm also enjoying the Santa Claus or Trump or whoever's rally.
Title: Re: Race from $1M to $2M
Post by: Icecreamarsenal on January 02, 2017, 05:09:46 PM
Posting to follow not join.  If I include home equity I'd be in it but using my own (most would say stupid and incorrect) way to calculate NW, just liquid invested.
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on January 03, 2017, 12:27:55 AM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...
Title: Re: Race from $1M to $2M
Post by: HappierAtHome on January 03, 2017, 01:03:07 AM
I may be joining this race at the end of next year if all goes well. How long will it take after that? Perhaps 6 more years assuming current trajectory.

It's hard to predict compounding.

I'm hoping to join at roughly the same time (by end of 2017) so this could get ugly, Marty ;-) West Coast rules, East Coast drools.
Title: Re: Race from $1M to $2M
Post by: boarder42 on January 03, 2017, 06:49:20 AM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

whats your WR.  4% of 1.17M or less?
Title: Re: Race from $1M to $2M
Post by: chesebert on January 03, 2017, 05:12:56 PM
Do you all count rentals as investable assets for this exercise?
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on January 04, 2017, 01:23:35 AM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

whats your WR.  4% of 1.17M or less?

Hard to say because we have a lot of changes and went into permanent travelling mode, so don't know what our expenses are. Will aim to keep them below $40,000. Long term it will depend on cost of housing in whatever area we settle in.
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 04, 2017, 04:20:02 AM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

whats your WR.  4% of 1.17M or less?

Hard to say because we have a lot of changes and went into permanent travelling mode, so don't know what our expenses are. Will aim to keep them below $40,000. Long term it will depend on cost of housing in whatever area we settle in.

I love the attitude!
Title: Re: Race from $1M to $2M
Post by: dogboyslim on January 04, 2017, 11:06:19 AM
Do you all count rentals as investable assets for this exercise?

I count money that is employed for me, so rentals would be included.  Mostly I'm excluding money set aside for college and my home equity since I know both of those are not going to be accessible for spending.  I also exclude the value of cars/furniture/toys etc, but I don't think that needs to be said with this group.
Year end invested assets at 1.4M.
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 05, 2017, 07:29:09 PM
Ok new year update.  Liquid investments are bubbling near 1.6M now.  Crazy rally has really boosted the portfolio.   Hard to believe that it's really real.
Title: Re: Race from $1M to $2M
Post by: Car Jack on January 10, 2017, 01:04:19 PM
So here's my brief story:

Tallied up our investments for the first time ever 3 years ago.  $1.54M.  Have corrected the investments by moving everything into simple 3 fund index funds and ETFs.  Rolled over a bunch of old 401k's and 403b's to simplify further.  Opened my first taxable account last year.

I'm now about $25k away from $2MM invested.  I don't count net worth because I can value my house and cars wherever I want, so that's sort of cheating to me.  Just paid spring semester tuition for my son and there's a 529 check coming our way to replenish some of that.  I do chase CC and Bank bonus money so have a good chunk waiting to hit the time in account to collect $400 at Citi, then that'll be free and I can get back to putting money into the taxable.  Oh, come to think of it, we can do 2017 Roth contributions first and since we're old, that's $13k right there for the 2 of us.  If the stock market stays somewhat stable (which it won't), I'll hit that "2" number in the next couple months.

I plan to retire in 2 or 3 years which has my wife all freaked out.  Son #1 graduates before I do so that leaves one more son.  And of course medical insurance.

I've been decluttering over the last few months which brings in a tiny bit of cash but more importantly rids the house of unwanted crap.  It's also nice to sell 3 good tires to someone for $15 who really needs them (we have a subaru that destroyed one tire....worn enough that we had to replace 4).  Oh, I love Craigslist!
Title: Re: Race from $1M to $2M
Post by: farmecologist on January 10, 2017, 02:12:03 PM
We are at a net worth of 1.9M-ish ( liquid investments at 1.6M, 1.3M are tax sheltered )....no debt.   One of us also has a pension which we are not taking into account right now ( treating that as a potential 'bonus' ).

You are probably wondering why we are still working, etc.... Well, we have two almost-college-aged kids, and one of us has a "pre-existing" medical condition.  Very worried about the future of the ACA, etc...  Probably will keep going until we have 2M in liquid investments.  However, it is becoming harder and harder to do every year ( corporate culture at my company sucks )!

By the way, for those wondering about retirement planning...Personal Capital has a very nice retirement planner under the 'advisor tool' tab.  It does take inflation into account, allows quite a few variables to be changed, and runs all sorts of simulations.  It then outputs a nice graph of the median (expected) and 10th percentile ( worst case ) scenarios.  I'd recommend Personal Capital for this tool alone.


Edit: Forgot to add that we are also a bit worried about the super high stock market valuations these days.  We have switched some of our holdings to somewhat more conservative funds ( Vanguard Wellesley - VWIAX ).  Not to be a downer but I also fear that we could see a stock market correction in 2017...but then again who knows!


Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on January 10, 2017, 04:05:53 PM
Not to be a downer but I also fear that we could see a stock market correction in 2017...but then again who knows!
All the more reason for me to build up ample cash reserves while I still have a regular paycheck to ride these market corrections out.
Title: Re: Race from $1M to $2M
Post by: Car Jack on January 13, 2017, 06:49:47 AM

Edit: Forgot to add that we are also a bit worried about the super high stock market valuations these days.  We have switched some of our holdings to somewhat more conservative funds ( Vanguard Wellesley - VWIAX ).  Not to be a downer but I also fear that we could see a stock market correction in 2017...but then again who knows!

You have to be able to sleep at night.  With stocks so high, rebalancing into bond/conservative investments is fine.  You should have an IPS written and go by that.  If you decide that your asset allocation needs to be changed to prevent sitting bolt upright in the middle of the night worrying "what if the Dow drops 1200 points tomorrow?!", then it makes perfect sense to readjust your AA and do some shuffling of funds.
Title: Re: Race from $1M to $2M
Post by: farmecologist on January 13, 2017, 07:56:20 AM

Edit: Forgot to add that we are also a bit worried about the super high stock market valuations these days.  We have switched some of our holdings to somewhat more conservative funds ( Vanguard Wellesley - VWIAX ).  Not to be a downer but I also fear that we could see a stock market correction in 2017...but then again who knows!

You have to be able to sleep at night.  With stocks so high, rebalancing into bond/conservative investments is fine.  You should have an IPS written and go by that.  If you decide that your asset allocation needs to be changed to prevent sitting bolt upright in the middle of the night worrying "what if the Dow drops 1200 points tomorrow?!", then it makes perfect sense to readjust your AA and do some shuffling of funds.


Yes..we readjusted a few years ago to 'sleep better at night'.  Vanguard Wellesley Admiral (VWIAX), a 70% bond/30% stock 'balanced' fund has worked out very well for us.  Yields are at around 3% right now. 

On another thread I noted that many here seem to be very, very gung-ho on stocks.  I'm afraid that many will be very disappointed when they see their accounts drop 40% someday ( although I sincerely hope this will never happen ).  As some who has 'lived through' the crash of '08, the experience was good lesson on why we should diversify!  I'm almost certain that many of the pro-stock people have not had an experience like this.  In fact, I think many of the younger folks here probably started investing just after the crash. 
Title: Re: Race from $1M to $2M
Post by: Car Jack on January 13, 2017, 09:11:44 AM
When you're in your 20's, you can easily be gung ho and 95% stocks without worry.  Your portfolio at that point is low enough to be called "who cares?".  But when you're at the point where you actively think "if they come in and fire me today, I'm set to retire", then pulling a 2008 where stocks dropped 50% doesn't work.  I'm in that near retirement stage.  50/50.
Title: Re: Race from $1M to $2M
Post by: farmecologist on January 13, 2017, 11:21:38 AM
When you're in your 20's, you can easily be gung ho and 95% stocks without worry.  Your portfolio at that point is low enough to be called "who cares?".  But when you're at the point where you actively think "if they come in and fire me today, I'm set to retire", then pulling a 2008 where stocks dropped 50% doesn't work.  I'm in that near retirement stage.  50/50.

Yes..I agree with you 100%.  However, for many people that's not how it worked out in 2008.  Due to panic/fear/paranoia, I saw FAR too many people pull money out of the market during the crash ( the worst possible time to do so ).  Many also stopped investing towards the low point ( again a horrible idea ).  These are people that should have known better.  Basically, many people believe in the idea of dollar-cost-averaging...but can't seem to stick with it during tough times. 

Of course there are many other variables that play into this.   For instance, the loss of a job during a down market causes lost investment opportunities at the at the 'low point' of the cycle.  This happened quite a bit during the 'great recession'...the very time when there was the most opportunity to invest.  This also happens to be a big reason why the 'smart money' always wins.

My whole point to all of this is to be careful out there!  Invest over the long the best you can and make sure to diversify.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on January 14, 2017, 03:18:14 AM
Compiled my net worth for the check dated 1st quarter 2017:

$1,136,462.13
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 19, 2017, 02:28:01 AM
Awesome news today. I just crossed over the $2M mark!

Congrats!
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on January 19, 2017, 10:54:22 AM
Awesome news today. I just crossed over the $2M mark!
Congrats, Freedom17!
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 19, 2017, 06:06:09 PM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

whats your WR.  4% of 1.17M or less?

Hard to say because we have a lot of changes and went into permanent travelling mode, so don't know what our expenses are. Will aim to keep them below $40,000. Long term it will depend on cost of housing in whatever area we settle in.

We're in a similar situation!  North of 1MM, FIRE'd, so our "race" to 2MM will be more like a slow crawl.

Unknown expenses due to travel/kids and unknown future "settling" situation.

But hey, I'd rather crawl to 2MM while not working than rocket there while working full time, personally.  :D

I'd guess maybe.. 2021 or so?  Could be earlier or later, depending on market returns and any contributions.
Title: Re: Race from $1M to $2M
Post by: FrugalFan on January 19, 2017, 06:25:51 PM

We're in a similar situation!  North of 1MM, FIRE'd, so our "race" to 2MM will be more like a slow crawl.

Unknown expenses due to travel/kids and unknown future "settling" situation.

But hey, I'd rather crawl to 2MM while not working than rocket there while working full time, personally.  :D

I'd guess maybe.. 2021 or so?  Could be earlier or later, depending on market returns and any contributions.

I was under the impression that most of your income was from real estate investments? What proportion of your NW is invested in the market?
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 19, 2017, 08:18:10 PM

We're in a similar situation!  North of 1MM, FIRE'd, so our "race" to 2MM will be more like a slow crawl.

Unknown expenses due to travel/kids and unknown future "settling" situation.

But hey, I'd rather crawl to 2MM while not working than rocket there while working full time, personally.  :D

I'd guess maybe.. 2021 or so?  Could be earlier or later, depending on market returns and any contributions.

I was under the impression that most of your income was from real estate investments?

Indeed, it is!

The real estate market is a thing, too. ;)

How the real estate market performs (e.g. appreciation) has a big impact on our net worth.

Quote
What proportion of your NW is invested in the market?

Almost everything except the NPV of our pension (though that is also invested, though for us, via the pension managers).

Most in various real estate markets, some in the stock market.

While the bulk of our investments are in real estate, we have a good chunk in the stock market as well, and more all the time (sending all our extra cash flow into equities, to diversify into paper assets and try to hit a "second FI" based on our stock portfolio).

Either way, fluctuations in stocks and real estate values will be the thing that determines when we hit 2MM, likely more so than our contributions (due to them being much lower now that we don't work, obviously--otherwise it would be the contributions driving it, like for most ERees).
Title: Re: Race from $1M to $2M
Post by: bigchrisb on January 19, 2017, 10:17:59 PM
Congrats to those who have crossed the threshold! 

Wanted to add my perspective having recently crossed the $2m barrier ($2.7m in Australian dollars as of this month, so technically now $2m of those funny green dollars too).

Getting to $1m took me 8.5 years from graduation (and negative net worth at that point).  Since then, things have accelerated, taking 3.5 years to get to $2mm.  Assuming current trajectory, getting to $3mm will be under two years.  So, however you look at it, if you keep working/saving/investing, and markets behaving, the trajectory does go exponential.

However, I'm about to pull the pin on my career and its cash supply (5 months to go).  I'm expecting the trajectory to really slow down then, and it will probably be a slow limp over the $3m mark.  From this thread, it sounds like I'm certainly not the only one hitting this point, and having adjustment issues in finding a purpose other than net worth build!


   
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 19, 2017, 11:52:17 PM
Congrats to those who have crossed the threshold! 

Wanted to add my perspective having recently crossed the $2m barrier ($2.7m in Australian dollars as of this month, so technically now $2m of those funny green dollars too).

Getting to $1m took me 8.5 years from graduation (and negative net worth at that point).  Since then, things have accelerated, taking 3.5 years to get to $2mm.  Assuming current trajectory, getting to $3mm will be under two years.  So, however you look at it, if you keep working/saving/investing, and markets behaving, the trajectory does go exponential.

However, I'm about to pull the pin on my career and its cash supply (5 months to go).  I'm expecting the trajectory to really slow down then, and it will probably be a slow limp over the $3m mark.  From this thread, it sounds like I'm certainly not the only one hitting this point, and having adjustment issues in finding a purpose other than net worth build!
 

That's quite the impressive acceleration! I can't imagine making money that fast; be a few years before I crack the 2 mil mark, I would guess. I'd have to start tracking my networth at some point, even to know. I'm way too lazy to do that, much less earn money I'll never need, so it's no doubt much easier for people without my disability. :D
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 20, 2017, 01:42:38 AM


I can't imagine making money that fast; be a few years before I crack the 2 mil mark, I would guess. I'd have to start tracking my networth at some point, even to know. I'm way too lazy to do that, much less earn money I'll never need, so it's no doubt much easier for people without my disability.

Do you have no idea what your assets are worth, or what your liabilities are?

Or was this a joke that went over my head?
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 20, 2017, 01:56:58 AM


I can't imagine making money that fast; be a few years before I crack the 2 mil mark, I would guess. I'd have to start tracking my networth at some point, even to know. I'm way too lazy to do that, much less earn money I'll never need, so it's no doubt much easier for people without my disability.

Do you have no idea what your assets are worth, or what your liabilities are?

Or was this a joke that went over my head?

I mean... Kinda? I know I'm worth more this year than last year, even after spending a fuck ton of money on a ridiculous lifestyle. Do I keep an up-to-the month mental track of my assets and liabilities, so that I might know when I reach an arbitrary dollar figure of net worth? Fuck no. What's the point?

And yes, you did seem to miss a large part of it, but that's neither here nor there.
Title: Re: Race from $1M to $2M
Post by: bigchrisb on January 20, 2017, 04:33:24 AM
As net worth grows, it becomes a decreasingly useful metric. When I had $100k, changes in net worth were mostly reflecting my behaviour. At $1m, the change from the markets on net worth was often greater than the impact of my savings in a given month. Beyond $2m, the behaviour is almost unmeasurable in net worth changes. I spend more time now on monthly savings rate, and don't track net worth so much
Title: Re: Race from $1M to $2M
Post by: FrugalFan on January 20, 2017, 01:22:03 PM

We're in a similar situation!  North of 1MM, FIRE'd, so our "race" to 2MM will be more like a slow crawl.

Unknown expenses due to travel/kids and unknown future "settling" situation.

But hey, I'd rather crawl to 2MM while not working than rocket there while working full time, personally.  :D

I'd guess maybe.. 2021 or so?  Could be earlier or later, depending on market returns and any contributions.

I was under the impression that most of your income was from real estate investments?

Indeed, it is!

The real estate market is a thing, too. ;)

How the real estate market performs (e.g. appreciation) has a big impact on our net worth.

Quote
What proportion of your NW is invested in the market?

Almost everything except the NPV of our pension (though that is also invested, though for us, via the pension managers).

Most in various real estate markets, some in the stock market.

While the bulk of our investments are in real estate, we have a good chunk in the stock market as well, and more all the time (sending all our extra cash flow into equities, to diversify into paper assets and try to hit a "second FI" based on our stock portfolio).

Either way, fluctuations in stocks and real estate values will be the thing that determines when we hit 2MM, likely more so than our contributions (due to them being much lower now that we don't work, obviously--otherwise it would be the contributions driving it, like for most ERees).

Ah, yes, of course it is in a market even if it's a real estate market. I guess I was thinking that your *income* wouldn't be as equities-market-dependent but since this thread is about NW, that makes sense. How do you assess your property values since they are in diverse geographic areas? I know there is Zillow in the US, but I've seen people mention it can be unreliable.

Title: Re: Race from $1M to $2M
Post by: FrugalFan on January 20, 2017, 01:25:20 PM
Congrats to those who have crossed the threshold! 

Wanted to add my perspective having recently crossed the $2m barrier ($2.7m in Australian dollars as of this month, so technically now $2m of those funny green dollars too).

Getting to $1m took me 8.5 years from graduation (and negative net worth at that point).  Since then, things have accelerated, taking 3.5 years to get to $2mm.  Assuming current trajectory, getting to $3mm will be under two years.  So, however you look at it, if you keep working/saving/investing, and markets behaving, the trajectory does go exponential.

However, I'm about to pull the pin on my career and its cash supply (5 months to go).  I'm expecting the trajectory to really slow down then, and it will probably be a slow limp over the $3m mark.  From this thread, it sounds like I'm certainly not the only one hitting this point, and having adjustment issues in finding a purpose other than net worth build!


   

Wow, that's very impressive. We just broke 1 M NW this past summer, but it took us 11 years from graduating with a slightly negative NW. If you're willing to share more details, I would be interested in knowing roughly how much you were saving per month or per year, and whether that number changed after you reached 1 M. I can't imagine getting to 2 M in 3.5 years!
Title: Re: Race from $1M to $2M
Post by: bigchrisb on January 20, 2017, 05:07:46 PM
Congrats to those who have crossed the threshold! 

Wanted to add my perspective having recently crossed the $2m barrier ($2.7m in Australian dollars as of this month, so technically now $2m of those funny green dollars too).

Getting to $1m took me 8.5 years from graduation (and negative net worth at that point).  Since then, things have accelerated, taking 3.5 years to get to $2mm.  Assuming current trajectory, getting to $3mm will be under two years.  So, however you look at it, if you keep working/saving/investing, and markets behaving, the trajectory does go exponential.

However, I'm about to pull the pin on my career and its cash supply (5 months to go).  I'm expecting the trajectory to really slow down then, and it will probably be a slow limp over the $3m mark.  From this thread, it sounds like I'm certainly not the only one hitting this point, and having adjustment issues in finding a purpose other than net worth build!


   

Wow, that's very impressive. We just broke 1 M NW this past summer, but it took us 11 years from graduating with a slightly negative NW. If you're willing to share more details, I would be interested in knowing roughly how much you were saving per month or per year, and whether that number changed after you reached 1 M. I can't imagine getting to 2 M in 3.5 years!

I'm less convinced that the 2nd was impressive - things were pretty much on autopilot during that time.  The usual things - high income, control expenses, save lots, apply some leverage with low rates, get lucky on market returns. 

For a blow by blow account, I have a journal in the journals section.  For the short version, over the period from $1m to $2m, my numbers were:
After tax income from employemnt (including superannuation - like an Australian version of a 401k): $520k
Spending: $194k
Savings: =$326k, savings rate 63%
Return from market over this time:
Dividends: $193k
Capital gains: $481k.

So, about 70% of the change was from the portfolio doing the lifting, and 30% was from savings.  I suspect I'm not the only one that has seen this kind of trajectory. 

Asset allocation is roughly:
30% Australian residential property (I live in this house.  I believe Australian houses are a bubble)
11% Australian commercial property
44% Australian shares
15% International shares,
plus a little big of leverage ($500k on 3.2M total portfolio value)

Hope that helps.
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 20, 2017, 05:10:50 PM
Ah, yes, of course it is in a market even if it's a real estate market. I guess I was thinking that your *income* wouldn't be as equities-market-dependent but since this thread is about NW, that makes sense. How do you assess your property values since they are in diverse geographic areas? I know there is Zillow in the US, but I've seen people mention it can be unreliable.

Best estimate. There's no way to know for sure until you sell (even comps aren't sufficient), but I've gotten pretty good at assessing property values.

For us it took 7 years from graduation to hit 1M and 4 more years to hit 2M.

It took us about 7.5 years from graduation to hit 1MM (though we were at NW $0 after 3 years due to a declining real estate market, so from $0 to 1MM took about 5 years), and it'll probably take 6ish years to hit 2MM, but that's with being FIRE'd about 5.5 of the 6 years.  If we were still working, I think 3-4 years to hit 2MM is likely.
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 20, 2017, 08:23:12 PM
For us it took 7 years from graduation to hit 1M and 4 more years to hit 2M.

That is massively impressive! I suppose i could pull the first one off, if measured from college graduation and not highschool. Have about another year or so for that though. Would love to have the stache double 3 years after that, but it wouldn't matter much, as far as I'm concerned.
Title: Re: Race from $1M to $2M
Post by: libertarian4321 on January 21, 2017, 02:17:26 AM
The first million is really hard.

The second million is pretty hard.

The third million is a lot easier.

The 4th million isn't that hard, it just becomes inevitable.
Title: Re: Race from $1M to $2M
Post by: begood on January 21, 2017, 07:10:49 AM
As net worth grows, it becomes a decreasingly useful metric. When I had $100k, changes in net worth were mostly reflecting my behaviour. At $1m, the change from the markets on net worth was often greater than the impact of my savings in a given month. Beyond $2m, the behaviour is almost unmeasurable in net worth changes. I spend more time now on monthly savings rate, and don't track net worth so much

bigchrisb, this has really stuck with me.

Our net worth is at 2.3 right now. My husband maxes out his 403(b), which, including maxing catch-up contributions  and the employer match, added up to $30.5K last year. But it read as "noise" in the overall net worth. The additions we are making don't make a big difference when the market goes up, and they won't make a big difference when the market goes down.

We live in provided housing at my husband's job, and we don't want to be landlords, so we haven't had real estate since we lost $80K on the sale of our house in 2009. We have REITs but no equity. So aside from 7% we keep in money market accounts and a CD because if my husband lost his job, we'd lose both his income and housing, our entire stache is out there in "Return is Not Guaranteed Land", which feels darker and more foreboding the older I get.

We made our first million by saving in a corporate culture where most of our peers spent. The climb to the second million got a huge boost with a $300K inheritance in 2014. But now I don't see a way to 3 or 4, so I would love to hear more from libertarian4321 about why those are easier/inevitable. Frankly, I'm more worried about that value dropping in half than I am convinced it will double.

Title: Re: Race from $1M to $2M
Post by: FrugalFan on January 21, 2017, 08:31:10 AM
Thanks for sharing more details about pace and rate of increase everyone. We are now saving about the same amount per year as you, bigchrisb, but quite a bit of our NW is in housing equity. Somehow I don't think returns will be as good in the next few years as they have been in the past few years but of course no one can know that for sure. One or both of us might scale back before we reach 2 M anyway. I would probably stick it out if it could happen in 3.5 years, but my calculations with modest returns suggest 6-8 years, which seems too far away.
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 21, 2017, 01:14:02 PM
As net worth grows, it becomes a decreasingly useful metric. When I had $100k, changes in net worth were mostly reflecting my behaviour. At $1m, the change from the markets on net worth was often greater than the impact of my savings in a given month. Beyond $2m, the behaviour is almost unmeasurable in net worth changes. I spend more time now on monthly savings rate, and don't track net worth so much

bigchrisb, this has really stuck with me.

Our net worth is at 2.3 right now. My husband maxes out his 403(b), which, including maxing catch-up contributions  and the employer match, added up to $30.5K last year. But it read as "noise" in the overall net worth. The additions we are making don't make a big difference when the market goes up, and they won't make a big difference when the market goes down.

So here's the thing.

Mathematically, if you believe this to be true (contributions basically noise, not much difference, just market movement is the main thing), and you're saving 50% or more, then you should ER!  (Aside from the case where you love your job--in the scenario where you're working towards ER.)

Basically the logic is pretty simple:
1) If you're saving > 50%, your withdrawals (spending) is less than your contribution/savings (by definition of savings and spending).
2) If the amount you're saving is fluctuations/noise among market movements, withdrawing an even smaller amount would be even smaller noise.
3) Therefore you could ER, and the market will do its thing. There's no difference between adding a tiny bit of noise as a tiny boost, or an even smaller amount of noise as a tiny drag.

If you don't agree, then I'd posit there's something else wrong besides the logic--either you don't believe it's just noise (i.e. you think the drawdowns could be significant, in which case the contributions should count as "significant," since they're an even larger amount), or you have psychological hangups around ER'ing (or you aren't trying to ER, e.g. in the case you love your job).

But contributions shouldn't be "noise" until you're at the ER point, basically.

Simply put, most people are saving > 1 year of ER each working year (1 year @ 50% savings rate, 2 years @ 66%, 3 @ 75%, etc.).  When you're saving some number > 1, and your overall stache is < 25x annual spend, it shouldn't be noise.

E.g. say your stache is 18x expenses, and you add 3x.  That's 16% of your stache you add that year.  Certainly not noise.

And this, since it's a percent, is irrelevant of stache size. 

If you're at 2MM, but saving 300k/yr, that's not noise.  If you're at 2MM but saving only 20k (and that's > 50%) that's noise, sure, but then you're well past FI (spending < 20k on a 2MM stache).

So I'd posit if contributions are noise, you can/should (if you don't like your job) ER.

:)
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 21, 2017, 06:07:57 PM
You should be careful here with assuming all noise are equal. Market movements move up and down with a certain long term growth rate. On the other hand savings is always positive. Even though savings may be small and appear to be 'noise' they have a very different distribution to market returns. To give another example if the market is volatile then withdrawals of 8% a year may seem small relative to market movements, but over time those withdrawals (at that rate) will almost surely deplete the stash where as market movements won't.

Sure, but 8% contributions aren't noise either then.

My point was by the time you get to where contributions are "noise," you should be well past 25x assets, and possibly past 33x, so the "noise" you're adding (1, 2, 3%) would also just be "noise" being removed, and you should be FI.
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 21, 2017, 07:22:10 PM
Right, I'm assuming 4%, 5% are not noise.

I suppose someone may be using the term much looser than I am, but if you overlay a chart with contributions and without, it's past what I'd call "noise" level until the contributions are quite small, meaning past FI.

If you have 1MM and the market goes up 5%, it's not "noise" IMO and if you contribute 50k, ditto.

Once you're at the "noise" level, why are you still working (again, except if you want to work, but no longer for money).

EDIT: Let's move it to hard numbers so we get less vague.  I proposed if you're saving > 50% and it's just noise, you're FI.  You seem to disagree.  So maybe you can provide a number you would view as "noise" where someone is saving > 50% but is not FI?

If you disagree with me, why not provide a counter-example that shows my theory wrong?

Title: Re: Race from $1M to $2M
Post by: frugalecon on January 21, 2017, 09:24:35 PM
Chiming in to monitor thread.

Investable assets at about $1.4mm, $2.1mm with house thrown in (live in HCOL area.) contributions are running at about 4% of portfolio, so a conservative estimate of portfolio growth over the next couple of years is about 8% per annum. At that rate it will probably take about 5 years to get to $2 mm...
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 21, 2017, 09:56:43 PM
I'm not saying your theory is wrong but just that it misses some subtlety here. Forgive me for being pedantic. It's because I'm a mathematician and noise has a very specific meaning but let me put it in more concrete terms.

Let's say the market goes up and down 1% per day due to noise. It could easily have a good or bad run and move 5% in a month. Even though that seems like a lot it's just noise. The fact that it bounces around doesn't really matter because in the long term it's trending upwards. The market noise averages out over time (it's a random variable with an average value of 0).

On the other hand let's say that in addition to your usual safe withdrawal rate you withdraw an extra 1% per annum. Per day that's only 1% / 356 = 0.003%. On any given day it's indistinguishable from the 1% noise in the market. You might say that it doesn't matter since it's so much smaller than the market noise.

However that extra 0.003% per day doesn't have an average of 0. It's always 0.003%. It stacks up day after day and causes you to withdraw 1% over your safe withdrawal rate per year and may ultimately cause you to deplete your stash.

So to do this properly we really need to talk about both the average value (mean) of the noise and it's standard deviation. Market variations from the long term trend have a large standard deviation (1% per day) but the average is 0 so they average out over time and don't matter if you take a long term view. Spending over your safe withdrawal rate on the other hand has a very small standard deviation (0 if you overspend the same amount every day) but the average value is negative causing all that overspending to stack up over a year and cause potential problems.

So even though spending or saving looks small on a daily basis compared to market fluctuations, it can have a much larger effect over time.

Let me make it even more concrete. With 2M in assets we can easily see a variation in net worth of $20k per day. This could easily be $50k a month. So the market noise is around $50k per month. Our savings rate is 80%. So we meet your criteria.

However if we overspend (or undersave) by $1600 per month it corresponds to a 1% higher withdrawal rate which would be an issue even though such a small amount seems like 'noise' compared to the $50k market fluctuations. We are not FIRE just yet although we will be soon.

This was my understanding.  A 1600 a month contribution would seem to be noise on even a 500k portfolio, when viewed at a monthly level. Incorrect, but it could feel that way to the portfolio holder, when the market moves 12k that month.
Title: Re: Race from $1M to $2M
Post by: bigchrisb on January 22, 2017, 04:19:57 AM
I don't think further savings are irrevelevant by any means. However, as a metric, past a point tracking monthly net worth doesn't give meaningful information on how you are going.
That's why over time I've become more focussed on savings rate, absolute savings per month ($) and spend compared to passive cash flow.

Title: Re: Race from $1M to $2M
Post by: arebelspy on January 22, 2017, 04:37:05 AM
I don't think further savings are irrevelevant by any means. However, as a metric, past a point tracking monthly net worth doesn't give meaningful information on how you are going.
That's why over time I've become more focussed on savings rate, absolute savings per month ($) and spend compared to passive cash flow.

Smart. Those are useful metrics.
Title: Re: Race from $1M to $2M
Post by: begood on January 22, 2017, 07:31:03 AM
Sorry, I tried to send arebelspy a PM and to post here, but apparently neither went through! *sigh*

I appreciate these different perspectives and metrics, and I want to apologize for including the term "noise" in my post, which I used from a former English major's perspective rather than a mathematician's.

Our savings rate is NOT above 50%. (This is now non-numbery I am: I still cannot tell the difference between the < and > signs, so I'm going to use "more than" and "less than"). We save 36% of my husband's gross income, but that includes the employer match and maxing out an HSA as well. We don't count the HSA in savings because we basically spend it every year (Enjoy your thirties, y'all!).

I earn anywhere from $15K-$20K a year doing contract editing work, but between 1099 taxes on that income and American Eagle jeans for our hasn't-stopped-growing-yet 15-year-old daughter, we don't tend to save much of that.

I'm working on dealing with the things I can control (daily expenses and choices) and not worrying so much about the things I can't (what the market's going to do in the near or far term).
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 22, 2017, 10:03:57 AM
Ah, sure, certainly that could appear as noise then. I think my first premise was savings rate >= 50%.

The neat thing is that right now time is working for you. As long as you have a positive savings rate (even if it was 1%), your stache is now doing the heavy lifting.

My point was to try and encourage those who have so much their contributions have begun to seem like insignificant noise to look at where they're at, because they may already have enough.

Good luck! :)
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 22, 2017, 10:08:01 AM

I'm working on dealing with the things I can control (daily expenses and choices) and not worrying so much about the things I can't (what the market's going to do in the near or far term).

This is an awesome attitude! I'm confident it will work out very well for you.
Title: Re: Race from $1M to $2M
Post by: supermustacheman on January 22, 2017, 10:20:58 AM
excellent thread.

Net worth at 1.65M.  Hoping to get to over 2M by end of the year.

need to start using mint again to see everything in one place.


Title: Re: Race from $1M to $2M
Post by: Car Jack on January 23, 2017, 11:24:43 AM
Other life "things" can get in the way or ER'ing even if it looks like you're FI.

As older parents with kids in college and high school, we see these education costs which exceed what we'd normally spend for ourselves in a year.  This is the reason I continue to work.  When son #1 graduates college, I'll feel there's light at the end of the tunnel.  For "normal" parents at my age, the kids would already be on their own.

Title: Re: Race from $1M to $2M
Post by: begood on January 23, 2017, 12:20:30 PM
Other life "things" can get in the way or ER'ing even if it looks like you're FI.

As older parents with kids in college and high school, we see these education costs which exceed what we'd normally spend for ourselves in a year.  This is the reason I continue to work.  When son #1 graduates college, I'll feel there's light at the end of the tunnel.  For "normal" parents at my age, the kids would already be on their own.

I hear you! I'm 52 with a 15-year-old. Just the one but even so, I will probably not relax at all about finances until we know what her college costs will be.
Title: Re: Race from $1M to $2M
Post by: farmecologist on January 23, 2017, 03:07:43 PM
Other life "things" can get in the way or ER'ing even if it looks like you're FI.

As older parents with kids in college and high school, we see these education costs which exceed what we'd normally spend for ourselves in a year.  This is the reason I continue to work.  When son #1 graduates college, I'll feel there's light at the end of the tunnel.  For "normal" parents at my age, the kids would already be on their own.

I hear you! I'm 52 with a 15-year-old. Just the one but even so, I will probably not relax at all about finances until we know what her college costs will be.

Us too!  One 18 year old high school senior and one 15 year old.   Looking into colleges is a pretty sobering thing.









Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 24, 2017, 01:03:28 AM
excellent thread.

Net worth at 1.65M.  Hoping to get to over 2M by end of the year.

need to start using mint again to see everything in one place.

Wow. Awesome! Let us know if you reach your goal! Rooting for you.
Title: Re: Race from $1M to $2M
Post by: Car Jack on January 26, 2017, 05:08:03 PM
Other life "things" can get in the way or ER'ing even if it looks like you're FI.

As older parents with kids in college and high school, we see these education costs which exceed what we'd normally spend for ourselves in a year.  This is the reason I continue to work.  When son #1 graduates college, I'll feel there's light at the end of the tunnel.  For "normal" parents at my age, the kids would already be on their own.

I hear you! I'm 52 with a 15-year-old. Just the one but even so, I will probably not relax at all about finances until we know what her college costs will be.

Us too!  One 18 year old high school senior and one 15 year old.   Looking into colleges is a pretty sobering thing.

Back when I was in college, I looked at things compared to the price of a pizza and beer (drinking age 18 back then).  Now I look at each kid's college as a Lamborghini Huracan.  First one is right about on target.  2nd one's 16 (I turn 60 next Monday).  We've expected this all along, though, so were ready. 
Title: Re: Race from $1M to $2M
Post by: CloserToFree on January 26, 2017, 06:55:36 PM
Are y'all including equity in your primary residence as part of the net worth numbers you're posting or not?  Wondering if I should be in this thread or stay in the race-from-$500k-1m one I'm already in.  We're well past $1m if you include our home equity, but under $1m if you don't.

Happy racing!
Title: Re: Race from $1M to $2M
Post by: arebelspy on January 26, 2017, 07:36:01 PM
Are y'all including equity in your primary residence as part of the net worth numbers you're posting or not?  Wondering if I should be in this thread or stay in the race-from-$500k-1m one I'm already in.  We're well past $1m if you include our home equity, but under $1m if you don't.

Happy racing!

Don't have a primary residence, so no.  But if I had one, yes, I'd count it.  Still part of net worth (even if it's not a part of your portfolio for ER purposes, other than as a possible reduction in expenses).
Title: Re: Race from $1M to $2M
Post by: Koogie on January 27, 2017, 07:44:48 AM
Are y'all including equity in your primary residence as part of the net worth numbers you're posting or not?  Wondering if I should be in this thread or stay in the race-from-$500k-1m one I'm already in.  We're well past $1m if you include our home equity, but under $1m if you don't.
Happy racing!

I didn't.   Neither did the OP, so I took the same approach.
Title: Re: Race from $1M to $2M
Post by: farmecologist on January 27, 2017, 08:25:52 AM
Are y'all including equity in your primary residence as part of the net worth numbers you're posting or not?  Wondering if I should be in this thread or stay in the race-from-$500k-1m one I'm already in.  We're well past $1m if you include our home equity, but under $1m if you don't.
Happy racing!

I didn't.   Neither did the OP, so I took the same approach.


There has been MAJOR debate about this on other threads.

I said heck with it and always just break out the total with residence and without residence.

Title: Re: Race from $1M to $2M
Post by: MishMash on January 27, 2017, 08:37:28 AM
Are y'all including equity in your primary residence as part of the net worth numbers you're posting or not?  Wondering if I should be in this thread or stay in the race-from-$500k-1m one I'm already in.  We're well past $1m if you include our home equity, but under $1m if you don't.
Happy racing!

I didn't.   Neither did the OP, so I took the same approach.

Same, way I look at it, it's still an asset, so I break it out, total net worth and investible

There has been MAJOR debate about this on other threads.

I said heck with it and always just break out the total with residence and without residence.
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on January 27, 2017, 04:54:47 PM
Are y'all including equity in your primary residence as part of the net worth numbers you're posting or not?  Wondering if I should be in this thread or stay in the race-from-$500k-1m one I'm already in.  We're well past $1m if you include our home equity, but under $1m if you don't.
Happy racing!

I didn't.   Neither did the OP, so I took the same approach.


There has been MAJOR debate about this on other threads.

I said heck with it and always just break out the total with residence and without residence.

In the 'stache measuring contests, I would probably use the method that would make mine look as big as possible.
Title: Re: Race from $1M to $2M
Post by: frugalecon on February 02, 2017, 10:46:28 AM
Are y'all including equity in your primary residence as part of the net worth numbers you're posting or not?  Wondering if I should be in this thread or stay in the race-from-$500k-1m one I'm already in.  We're well past $1m if you include our home equity, but under $1m if you don't.
Happy racing!

I didn't.   Neither did the OP, so I took the same approach.


There has been MAJOR debate about this on other threads.

I said heck with it and always just break out the total with residence and without residence.

In the 'stache measuring contests, I would probably use the method that would make mine look as big as possible.

It's not the size of the 'stache that matters, it is how you use it...

Somewhat seriously, I live in a HCOL area, so a big chunk of my net worth is tied up in the house. But I don't particularly want to move, so it is hard for me to realize value from it, other than the obvious one of having a place to live. So it is more relevant to my financial needs to exclude it.
Title: Re: Race from $1M to $2M
Post by: arebelspy on February 02, 2017, 02:18:35 PM
It's not the size of the 'stache that matters, it is how you use it...

Well said.  I've seen people with 500k staches put it to much better usage in their life than some with 2MM+.
Title: Re: Race from $1M to $2M
Post by: farmecologist on February 02, 2017, 07:41:44 PM
It's not the size of the 'stache that matters, it is how you use it...

Well said.  I've seen people with 500k staches put it to much better usage in their life than some with 2MM+.

Yep - totally agree!
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on February 02, 2017, 07:43:15 PM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

And at $1.2M at 1/31/2017

Presumably this particular rally will end sooner or later, it won't be as long as I thought if it keeps up like this (not that I expect it to)
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on February 02, 2017, 10:27:02 PM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

And at $1.2M at 1/31/2017

Presumably this particular rally will end sooner or later, it won't be as long as I thought if it keeps up like this (not that I expect it to)

Nice!
Title: Re: Race from $1M to $2M
Post by: Car Jack on February 05, 2017, 12:50:32 PM
Well, it looks like I can now claim $2M, using my criterion that it only includes investable assets.  Updated my spreadsheet and I'm at $2,006,000, so just over the mark.  I have RSUs, pay and ESOP coming up in the next month, so since I'll invest a good portion of that, it should make this number stick.  My spread sheet shows net worth and it's right at $2.6M.

No, I'm not retired.  Son #1 in college that I'm funding.  Son #2 will enter college as he finishes.  Mostly, however is that my wife is totally freaked about me retiring.  She grew up in a blue collar household where her dad was constantly being laid off as his trade went obsolete (worked in a print shop after going to trade high school, and it shut down, then a small steel mill which closed and finally after a couple years out of work for the city).  I sat down with her one night to figure out what number she would be comfortable with me calling it quits.  $2M?  No.  $10M?  No.  $100M?  No.  $100B???  No.  So I've concluded that she'll never be comfortable, so I've targeted 2 years from now.
Title: Re: Race from $1M to $2M
Post by: Bateaux on February 06, 2017, 07:46:10 PM
Not so long ago it took years to roll another 100k.  Now we roll another 100k witin a year or less.  VTSAX is in control.
Title: Re: Race from $1M to $2M
Post by: Metric Mouse on February 06, 2017, 08:02:51 PM
Well, it looks like I can now claim $2M, using my criterion that it only includes investable assets.  Updated my spreadsheet and I'm at $2,006,000, so just over the mark.  I have RSUs, pay and ESOP coming up in the next month, so since I'll invest a good portion of that, it should make this number stick.  My spread sheet shows net worth and it's right at $2.6M.

No, I'm not retired.  Son #1 in college that I'm funding.  Son #2 will enter college as he finishes.  Mostly, however is that my wife is totally freaked about me retiring.  She grew up in a blue collar household where her dad was constantly being laid off as his trade went obsolete (worked in a print shop after going to trade high school, and it shut down, then a small steel mill which closed and finally after a couple years out of work for the city).  I sat down with her one night to figure out what number she would be comfortable with me calling it quits.  $2M?  No.  $10M?  No.  $100M?  No.  $100B???  No.  So I've concluded that she'll never be comfortable, so I've targeted 2 years from now.
It's awesome that you and your wife were able to come to a compromise.
Title: Re: Race from $1M to $2M
Post by: Bateaux on February 06, 2017, 09:15:28 PM
Keep the incredible stories of sucess coming.  Dreams are being fulfilled.
Title: Re: Race from $1M to $2M
Post by: Goldy on February 28, 2017, 05:50:03 AM
Broke 1.3 this week and our rolling 12mo gain is 387k thanks to a great year of investing and 50k from a house sale.
Title: Re: Race from $1M to $2M
Post by: chesebert on February 28, 2017, 08:56:40 AM
Broke 1.3 this week and our rolling 12mo gain is 387k thanks to a great year of investing and 50k from a house sale.
That's impressive. Did you have to take a lot of risk for that amount of gain?
Title: Re: Race from $1M to $2M
Post by: John Doe on February 28, 2017, 05:31:55 PM
I have about $1.4 m in investments plus a defined benefit pension that will start in a little less than 4 years.  The pension will be about about $42k per year.  So where does that put me in the race?  Also have debt free home worth about $550k but let's not count that.   
Title: Re: Race from $1M to $2M
Post by: OthalaFehu on February 28, 2017, 06:10:34 PM
1 to 2 sure seems easier than 0 to 1.

I hit 1m at the end of 2013, am at 1.4 now. Really 1.9 assets but need to shave some debt.
Title: Re: Race from $1M to $2M
Post by: Goldy on February 28, 2017, 08:26:40 PM
Broke 1.3 this week and our rolling 12mo gain is 387k thanks to a great year of investing and 50k from a house sale.
That's impressive. Did you have to take a lot of risk for that amount of gain?

No more risk than anyone else, all my investments are 100% stocks.  We saved 56k in the 401k's, 11k in Roth, 20k in company stock, 50k from the house sale, and 24k in taxable. The rest was investment gains, I think I was up 17% or so on the year
Title: Re: Race from $1M to $2M
Post by: MishMash on March 01, 2017, 07:25:58 AM
Officially halfway to the 2 mark, solidly crossed the 1.5 barrier.  Accounts went up 50k this month, I remember when we first started, it would take more than a year for an increase of that size (most all of it contributions, I think the savings in our very first year was like 18k), to see it happen in one month flabbergasts me.  Also makes me nervous because if it can go up 50k in a month, it can go down 50k in a month. 
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on March 01, 2017, 08:41:59 AM
You have to keep the 50K in mind as a minor percentage of Net Worth, not as a (presumably) major fraction of annual income.   
Breathe deep and repeat.... it's only a small percentage.....
Title: Re: Race from $1M to $2M
Post by: MishMash on March 01, 2017, 10:23:12 AM
You have to keep the 50K in mind as a minor percentage of Net Worth, not as a (presumably) major fraction of annual income.   
Breathe deep and repeat.... it's only a small percentage.....

Lol, yea that's pretty much what I've been saying to myself but it's like the realization finally set in that our money is in control now.  That our contributions each year will mean less and less going forward.  Especially when starting out I remember reading that, and I kind of always thought "yea right, we won't hit that point"
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on March 03, 2017, 10:30:45 PM
I have about $1.4 m in investments plus a defined benefit pension that will start in a little less than 4 years.  The pension will be about about $42k per year.  So where does that put me in the race?  Also have debt free home worth about $550k but let's not count that.
I've seen people use the "180" pension conversion formula to figure out how much their pension is worth.  The formula is this: monthly pension amount x 180 = what the pension is worth.

So if your pension pays you $42K a year that is $3,500 per month.  $3500 x 180 = $630,000.

Your pension is worth $630,000.

Somebody please correct me if I'm off base here.
Title: Re: Race from $1M to $2M
Post by: arebelspy on March 04, 2017, 03:52:40 AM
I have about $1.4 m in investments plus a defined benefit pension that will start in a little less than 4 years.  The pension will be about about $42k per year.  So where does that put me in the race?  Also have debt free home worth about $550k but let's not count that.
I've seen people use the "180" pension conversion formula to figure out how much their pension is worth.  The formula is this: monthly pension amount x 180 = what the pension is worth.

So if your pension pays you $42K a year that is $3,500 per month.  $3500 x 180 = $630,000.

Your pension is worth $630,000.

Somebody please correct me if I'm off base here.

Why 180?  Seems really arbitrary (15 years x 12 mo/yr = 180).

Really depends on the details of the pension, too.  Is it COLA adjusted?

I'm not a fan of that "multiply by 180" thing.  Never heard of it, and can't fathom where it'd come from, or how a blanket number would apply to all.

To get the value of a pension, if it has a cash out value, use that.  If not, I'd either:
1) Price an annuity that pays the same as the pension, and value it at that, or
2) Do a NPV of the income stream based on actuarial tables for lifespan.

Both are valid, IMO.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on March 04, 2017, 05:43:16 AM
I'll get a small pension, and the way I am valuing it is:

[Pension in today's $]*25* 1.04^-[number of years till I can draw the pension]

So, for example I am 45 and can get my pension at 55. It is worth $13,000 a year in today's dollars and is indexed to CPI. It will pay until I die. So I value it as

$13,000*25*(1.04)^-10 = $219,500.

I feel that this method is consistent with the 4% rule.

Each year the future payout gets inflated by CPI and the discount gets reduced when I value my stash. So let's say this year we have 3% inflation, then my pension increases to $13,390 and I would value the pension as

$13,390*25*1.04^-9 = $235,190.

Once I get to 55 I won't value it this way.  I'll just reduce the spending I am trying to cover by the pension I have, just like my house (ie: I don't include the house and I don't include rent expense).

 But for now, I like to include the pension in my stash calculations as it just makes for simple comparisons with my expenditure budget, and required withdrawal rate, particularly as I won't get the pension for 10 years, so it's value needs to be discounted.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on March 04, 2017, 05:47:03 AM
I suppose, that given that there s almost zero risk of not receiving the pension (as it is not at the whims of the market and sequence of return risk) I could potentially use a higher multiple than 25, amd retire sooner.
Title: Re: Race from $1M to $2M
Post by: begood on March 04, 2017, 08:26:05 AM
I suppose, that given that there s almost zero risk of not receiving the pension (as it is not at the whims of the market and sequence of return risk) I could potentially use a higher multiple than 25, amd retire sooner.

Now, see, I think there's a HUGE risk of not receiving the pension. My mister's DB pension is "guaranteed" (in some portion, read the fine print, yadda yadda) by the PBGC, but even so I think there's some chance he gets to 65 in 13 years and they go, "Well, we had good intentions, but..."
Title: Re: Race from $1M to $2M
Post by: itchyfeet on March 04, 2017, 08:44:19 AM
I am very confident that my pension from a defined benefit scheme has zero risk of non-payment. The scheme is closed now. It was an old superannuation scheme for govt. employees.

I guess Not all pensions are created equal.


Title: Re: Race from $1M to $2M
Post by: markbike528CBX on March 04, 2017, 09:29:02 AM
With 2 months notice, my Semi-Big Corp defined benefit pension is now "frozen".   I'm glad I didn't take the future projections seriously.  I didnt even bother including the immediate payout value 5k/year since it is so paltry, into my FIRE calculations.

a retire at 55,pay 19k at 60 became 18k at 65. 

hhmmm... I wonder if personnel retention will be effected? :-)

What is most galling, is that this and other penny-pinching measures are needed to fix a $Billion(s) F$&@up by upper "management" for lack of due diligence.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on March 04, 2017, 09:33:53 AM
Ouch. That sucks. I imagine some peeps have lost out big time. Hopefully they sort out their shit amd your entitlements are paid.
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on March 04, 2017, 09:57:09 AM
They have basically switched all of us to the post-2013 new hire defined contribution scheme ( not a 401K, but similar)   of 3% of salary.   Not sure how it saves Semi-BigCorp money. Not my problem ( have FU Money).
Title: Re: Race from $1M to $2M
Post by: Davids on March 04, 2017, 11:56:38 AM
I hope to join this race sometime in mid-late 2018.
Title: Re: Race from $1M to $2M
Post by: Bateaux on March 18, 2017, 04:54:32 PM
Looks like we've crested 1.7M without real estate.  Could cheat and claim 2M total NW but, 2M is my number for invested assets. Without a recession we should be on a glidescope to FIRE 2019. 
Title: Re: Race from $1M to $2M
Post by: BTDretire on March 19, 2017, 08:08:02 AM

Besides the fact that it's rude to judge others on their goals, those who think $2 million is way more than they'd ever need to save for retirement also ought to take into account the effect of inflation.   It's all well and good to want to retire on $750k in current dollars.  But if you're in your 30s or even your 40s at FIRE, you could easily have a 50-60 year retirement life expectancy.  Over that time, your $750k will need to become much greater as your money becomes worth less.  In fact, you would likely need to exceed the $1 million mark within a decade or so after FIRE, depending on what you assume for a rate of inflation.

My goal for FI is $800k in 2015 dollars, and I am assuming a 3.5% inflation rate.  This means that I will need to have accumulated $1 million in 2022, and $2 million within about 27 years.  Since I'm only 41 now, yes, I intend to live long enough to need to accumulate $2 million.  And I won't even be collecting SS yet when I do!
  I'm with you and Metric Mouse, more is better unless you really can't stand your job. I'm older semi retired and my wife plans on working 5 more years, mostly to put my daughter through dental school
(about $250,000), I don't expect we will save anything during the next 5 years but I hope to be at $2M by then on market growth and the 2% dividends from VTSAX.
Title: Re: Race from $1M to $2M
Post by: Bateaux on March 20, 2017, 09:55:33 PM
I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.
Title: Re: Race from $1M to $2M
Post by: BTDretire on March 21, 2017, 07:14:41 AM
I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

  Yes, obviously higher than most a seeking, and I suspect the kids will get
a nice inheritance. But not a bad place to be, especially with the this healthcare
problem hanging over us.
  On healthcare, it's not about who pays for it, it's about reducing the cost of care.
That may mean a reduced quality of care and some delay in care,
but that could still be quality care.
Title: Re: Race from $1M to $2M
Post by: Car Jack on March 23, 2017, 06:46:39 AM
I have a very small pension that if I waited till 65, would be about $300 a month.  I could take lump sum right now of $53,000.  This is from a private company and the money is sitting in Fidelity (shows in my account as the current company name pension).  Even still, I have zero trust in pensions.  I don't know if it's 100% funded or 10% funded.  In my retirement planning, I consider it to be zero.  I suppose if I had to depend on it, I would be best to take the lump sum now.  Maybe I should look into it further because I think I can actually roll it into one of my IRAs.

Title: Re: Race from $1M to $2M
Post by: begood on March 23, 2017, 06:58:58 AM
I have a very small pension that if I waited till 65, would be about $300 a month.  I could take lump sum right now of $53,000.  This is from a private company and the money is sitting in Fidelity (shows in my account as the current company name pension).  Even still, I have zero trust in pensions.  I don't know if it's 100% funded or 10% funded.  In my retirement planning, I consider it to be zero.  I suppose if I had to depend on it, I would be best to take the lump sum now.  Maybe I should look into it further because I think I can actually roll it into one of my IRAs.

Car Jack, is the company part of the PBGC program? It's like the FDIC for pensions (not literally, but analogously). If your company participates in the PBGC, a portion of your pension would be "guaranteed".

We are rolling the dice on a pension as well - one that would provide $27K/year but is NOT adjusted for inflation. We were offered a lump sum that appeared to be about half of what the eventual value should be. We decided to stick with the eventual annuity instead. We'll see how that turns out in 12 years.
Title: Re: Race from $1M to $2M
Post by: KBecks on April 01, 2017, 08:17:16 AM
Posting to join in.  We are at 1.09 and market willing, we'll be in this group a while.  I feel like we need a plan to go up from here, but my primary goal is to have our home mortgage paid off within 12-18 months.   Then it will be a game of reducing expenses and learning about actual FIRE living.
Title: Re: Race from $1M to $2M
Post by: Car Jack on April 06, 2017, 08:51:21 AM


Car Jack, is the company part of the PBGC program? It's like the FDIC for pensions (not literally, but analogously). If your company participates in the PBGC, a portion of your pension would be "guaranteed".

We are rolling the dice on a pension as well - one that would provide $27K/year but is NOT adjusted for inflation. We were offered a lump sum that appeared to be about half of what the eventual value should be. We decided to stick with the eventual annuity instead. We'll see how that turns out in 12 years.

Learn something new every day, I guess.  I looked into the plan documents (at Fidelity...easy to find) and not only is it a PBGC plan, it's well over 100% funded.  I guess opposite world of how some state pension plans work.
Title: Re: Race from $1M to $2M
Post by: begood on April 06, 2017, 08:56:59 AM


Car Jack, is the company part of the PBGC program? It's like the FDIC for pensions (not literally, but analogously). If your company participates in the PBGC, a portion of your pension would be "guaranteed".

We are rolling the dice on a pension as well - one that would provide $27K/year but is NOT adjusted for inflation. We were offered a lump sum that appeared to be about half of what the eventual value should be. We decided to stick with the eventual annuity instead. We'll see how that turns out in 12 years.

Learn something new every day, I guess.  I looked into the plan documents (at Fidelity...easy to find) and not only is it a PBGC plan, it's well over 100% funded.  I guess opposite world of how some state pension plans work.

That's awesome, Car Jack!
Title: Re: Race from $1M to $2M
Post by: KBecks on April 06, 2017, 09:13:32 AM
The thing about health care is --- make sure you are taking care of yourself so you are low-risk.  Maintain a healthy weight, get your cardio exercise regularly,  strength train for a strong core and back, meditate, reduce stress in your life, sleep and eat well, limit alcohol ad sugar, work smart so you don't get injured doing chores, drive carefully, etc. etc. etc.   Prevention is huge and it's all in your control to live as healthy as possible.  That's the great part of it. 
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on April 06, 2017, 09:44:06 PM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

And at $1.2M at 1/31/2017

Presumably this particular rally will end sooner or later, it won't be as long as I thought if it keeps up like this (not that I expect it to)

$1.235M for 3/31/2017 at the end of the quarter.
Not bad for not working. I keep saying it can't last much longer!
Title: Re: Race from $1M to $2M
Post by: Koogie on April 07, 2017, 07:29:23 AM
$1.235M for 3/31/2017 at the end of the quarter. Not bad for not working. I keep saying it can't last much longer!

Well done. Gotta be great to see the stash still growing after having given the finger to the rat race.
23+% return in 10 months ?   Imagine if it was indicative though... ha ha...


Title: Re: Race from $1M to $2M
Post by: mr_orange on April 07, 2017, 06:58:37 PM
At about $1.46M this week.  I expect us to clear $1.6M this year. 

And yeah....the compounding is nice.  $1M -> $2M is certainly a ton easier than $0 -> $1M.  From other threads I have read the subsequent millions are easier and easier with more compounding.  Gotta love that 8th wonder of the world. 
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on April 07, 2017, 10:57:42 PM
$1.235M for 3/31/2017 at the end of the quarter. Not bad for not working. I keep saying it can't last much longer!

Well done. Gotta be great to see the stash still growing after having given the finger to the rat race.
23+% return in 10 months ?   Imagine if it was indicative though... ha ha...

And we are relatively conservative compared to some people here (about 80% equities, 20% bonds/cash/fixed income). Our equities are evenly split US and international, the latter has been quite under performing. I can only imagine what's been happening to someone's portfolio who is 100% US stocks!

I don't intend on changing anything, stay the course and not chase returns. I also mentally imagine a 20% drop so hopefully I will be ok with the shock when that happens!
Title: Re: Race from $1M to $2M
Post by: Koogie on April 08, 2017, 07:44:47 AM
And we are relatively conservative compared to some people here (about 80% equities, 20% bonds/cash/fixed income). Our equities are evenly split US and international, the latter has been quite under performing. I can only imagine what's been happening to someone's portfolio who is 100% US stocks!
I don't intend on changing anything, stay the course and not chase returns. I also mentally imagine a 20% drop so hopefully I will be ok with the shock when that happens!

Our allocation is wayy more conservative.  But we are pretty much done with the accumulation phase and I am still working part time so, different strokes.  If I was in your situation, I would definitely have just about the same strategy.

Preparing for the inevitable decline is what smart, prepared people do. Get ready for: "Don't just do something, stand there"

There has been a lot of speculation lately about what the first significant market downturn will do to all the newly minted indexers who have only seen a bull market.  I think if they can remember their fundamentals and STAY CALM that they will be fine. 

Title: Re: Race from $1M to $2M
Post by: RetirementDreaming on April 08, 2017, 09:20:48 AM
We closed March with 1.144k but I found out I will be losing my job in the near future.  We are saving more in cash as a result.  Timeline is unknown.  I could lose the job in 3 months to 12 months.  I'm ready to go.  Just wishing for big package!
Title: Re: Race from $1M to $2M
Post by: Dicey on April 08, 2017, 09:38:45 AM
p.s.  Never understand why people post childish denigrations in threads like this ?  Jealousy ?  To make themselves feel better maybe ?     Remember, there are always those better off than you and also worse off than you.   Really, feel free to live your own life and let others live theirs or feel free to STFU.

Are you ok? Anger won't solve this. Let it go... you can't argue with the internet.
I think Koogie may have been referring to Chesbert's snark upthread. I agree with both points of view. You can't argue with the Internet, but you can certainly address haters here on the forum. It helps keep this site the civilized miracle that it is. Knowing who is defeatist, bitter and to be avoided Is quite helpful.
Title: Re: Race from $1M to $2M
Post by: Dicey on April 08, 2017, 09:54:07 AM
Are y'all including equity in your primary residence as part of the net worth numbers you're posting or not?  Wondering if I should be in this thread or stay in the race-from-$500k-1m one I'm already in.  We're well past $1m if you include our home equity, but under $1m if you don't.
Happy racing!

I didn't.   Neither did the OP, so I took the same approach.


There has been MAJOR debate about this on other threads.

I said heck with it and always just break out the total with residence and without residence.

In the 'stache measuring contests, I would probably use the method that would make mine look as big as possible.
Pre-FIRE, I counted everything. Post-FIRE, not so much. If I included RE in our crazy HCOLA, I'd be graduated from this thread. Without it, we're comfortably cruising toward $2M.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 14, 2017, 03:50:56 PM
I tallied up the numbers from the previous quarter, and I'm currently at $1,170,265.65.
Title: Re: Race from $1M to $2M
Post by: farmecologist on April 15, 2017, 12:34:33 PM
And we are relatively conservative compared to some people here (about 80% equities, 20% bonds/cash/fixed income). Our equities are evenly split US and international, the latter has been quite under performing. I can only imagine what's been happening to someone's portfolio who is 100% US stocks!
I don't intend on changing anything, stay the course and not chase returns. I also mentally imagine a 20% drop so hopefully I will be ok with the shock when that happens!

Our allocation is wayy more conservative.  But we are pretty much done with the accumulation phase and I am still working part time so, different strokes.  If I was in your situation, I would definitely have just about the same strategy.

Preparing for the inevitable decline is what smart, prepared people do. Get ready for: "Don't just do something, stand there"

There has been a lot of speculation lately about what the first significant market downturn will do to all the newly minted indexers who have only seen a bull market.  I think if they can remember their fundamentals and STAY CALM that they will be fine.

We have also gone towards more conservative allocations in our 'old age' ( mid-40s )... :-)

I took a peek and we are currently around 1.65M NOT including paid-off house....1.95M including the house.

I certainly do expect some sort of correction 'soon'...but as always, nobody can read the future.  I'm also interested in what will happen to the average 100% stock indexer ( note I said 'average'...I don't think most here are 'average' investors ).  So in theory the folks here should be better mentally prepared for a downturn.  However, we have been through 'the crash' and saw many, many people who thought they were prepared but in reality...not so much.  Stay calm folks.


Title: Re: Race from $1M to $2M
Post by: Cabaka on April 19, 2017, 01:37:17 PM
I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

It is. once you get in this group I would(and am) start building passive assets that can support you until it meets expenses, then you can let your money grow on it's own and work if you want to. Mine projects out to over 10mil now doing that just not adding another dime by the time I would normally retire and I do not really want to retire early, I like my job and career; but I do want to get to where I no longer need an income and can just live off my assets in case something happens where I can no longer work in my 40s or above.
Title: Re: Race from $1M to $2M
Post by: PseudoStache on April 19, 2017, 02:19:56 PM
I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

It is. once you get in this group I would(and am) start building passive assets that can support you until it meets expenses, then you can let your money grow on it's own and work if you want to. Mine projects out to over 10mil now doing that just not adding another dime by the time I would normally retire and I do not really want to retire early, I like my job and career; but I do want to get to where I no longer need an income and can just live off my assets in case something happens where I can no longer work in my 40s or above.

Joining.

Mint puts me at $1.625MM today including my primary residence... If I remove that equity I'm at about $1.4MM invested.  I should be able to get to 2MM invested in about 4-5 years if the market plays nice.

However, my mortgage still has about 12 years left.. and I work from home so my job is not high-stress... so I will probably keep chugging along for a bit past 2MM - Would actually like to see the PseudoStache turn into 3MM invested before I call it quits... but if life gets in the way... or I start hating or lose my job, I'll FIRE with a little a little real estate investing on the side.

Title: Re: Race from $1M to $2M
Post by: Jenny1974 on April 19, 2017, 03:58:47 PM
We're at about $1.56M including home equity of about $170K.  Currently adding at least $100 - $200K to that balance annually.  Hope to hit the $2M mark within the next couple years.  Goal is about $2.5M with a paid off house. 
Title: Re: Race from $1M to $2M
Post by: mr_orange on April 19, 2017, 08:36:02 PM
We're at about $1.56M including home equity of about $170K.  Currently adding at least $100 - $200K to that balance annually.  Hope to hit the $2M mark within the next couple years.  Goal is about $2.5M with a paid off house.

We have roughly the same goals.  We've been able to do a bit better adding about $250k/year recently, but I can see this decreasing some in future years. 
Title: Re: Race from $1M to $2M
Post by: itchyfeet on April 19, 2017, 08:54:04 PM
We're at about $1.56M including home equity of about $170K.  Currently adding at least $100 - $200K to that balance annually.  Hope to hit the $2M mark within the next couple years.  Goal is about $2.5M with a paid off house.

We have roughly the same goals.  We've been about to do a bit better adding about $250k/year recently, but I can see this decreasing some in future years.

Yeah, we're a aiming a little lower, but in the ball park. We're Looking for  about $1.7M USD (we're Australian) plus a paid off house. We will buy the house post-fire, and are setting a budget of $500K USD for that. We are just about to pass the $2M USD mark (we passed $2.5M AUD past month)  so now just $300K USD or thereabouts to go. Less than 2 years and we'll be done if markets behave.
Title: Re: Race from $1M to $2M
Post by: PseudoStache on April 19, 2017, 11:53:42 PM
so now just $300K USD or thereabouts to go. Less than 2 years and we'll be done if markets behave.

Isn't it absurd that what you just said sounds so normal... like it ain't no thang.

It's like, "Doesn't everyone grow their net worth by $300k in two years?"
Title: Re: Race from $1M to $2M
Post by: KBecks on April 20, 2017, 05:19:05 AM
I am struggling with the passive assets thing.  Of course we're new into this group and our I'm including our home in our NW, so we are around $850 invested and $150k home equity, roughly.  It is nice to see how your 'staches are growing!   A few years ago I was interested in real estate and started to learn about that but it's probably not our calling.  What are your categories of passive income and how are you making them work for you? 
Title: Re: Race from $1M to $2M
Post by: mr_orange on April 20, 2017, 08:14:09 AM
so now just $300K USD or thereabouts to go. Less than 2 years and we'll be done if markets behave.

Isn't it absurd that what you just said sounds so normal... like it ain't no thang.

It's like, "Doesn't everyone grow their net worth by $300k in two years?"

Yeah....people on this forum are definitely leading a charmed existence. 
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on April 20, 2017, 08:43:00 AM
so now just $300K USD or thereabouts to go. Less than 2 years and we'll be done if markets behave.

Isn't it absurd that what you just said sounds so normal... like it ain't no thang.

It's like, "Doesn't everyone grow their net worth by $300k in two years?"

Yeah....people on this forum are definitely leading a charmed existence.

My guess would be "most people" don't know what Net Worth is in general, let alone know how or care to measure their own.

What doesn't get measured can't be managed :)
Title: Re: Race from $1M to $2M
Post by: Bateaux on April 20, 2017, 02:23:09 PM
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?
Title: Re: Race from $1M to $2M
Post by: mr_orange on April 20, 2017, 09:10:23 PM
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?

I hope so.  I'm probably 1-2 years behind you.
Title: Re: Race from $1M to $2M
Post by: Car Jack on April 21, 2017, 06:26:09 AM
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?

<reaches hand out> Come on, you're almost there......

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/
Title: Re: Race from $1M to $2M
Post by: Bateaux on April 21, 2017, 07:24:57 AM
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?

<reaches hand out> Come on, you're almost there......

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/

Thanks for the warm welcome Carjack.  NW rising quickly now.  Be there with ya soon.
Title: Re: Race from $1M to $2M
Post by: Jenny1974 on April 21, 2017, 08:02:04 AM
It's astounding how quickly the stache starts to grow once you hit a certain point.  I hadn't really looked how much our stache had grown year over year until responding to this post.  It jumped close to $250K over the last year .  . of course the market helped a lot .  .  but still . . . I remember when my goal in total was $250K and now I'm growing that much a year!
Title: Re: Race from $1M to $2M
Post by: Ottoford on April 21, 2017, 08:51:38 AM
Close to $1.3M invested, about half of that in IRA's that we are 15 years away from being able to touch.  We already downsized and escaped the expensive NY metro area so we are mortgage free with low property/school taxes with views of farmland and smells of cows.  I don't tend to count home value in NW.

My SO pulled the plug on the day job and is now running a part-time at home business.  I also work from home and get paid well to do it.  Since we are still tied to home with our cats, we have a few years before we can hit the open road for extended trips.  So I figure I may as well work.

I was ready to stop working when we hit the $1M, but having more doesn't seem like a bad thing.  I'm not sure the $2M will be the endgame.  I'd like to opt out before then.  Although it would be a nice cushion.  See why I'm still working, I'm indecisive.  I'll never pursue more workload for my current day job, but if existing clients want to keep paying me, I'm going to ride it out for a bit.

Another interesting opportunity that I want to look into is my neighbor with the very poorly maintained house and yard says he's moving out.  I think they are just looking to cover what they owe.  If I could get it for what they owe, I think it could be solid investment.  Plus I can clean up the yard.

Title: Re: Race from $1M to $2M
Post by: albireo13 on April 22, 2017, 04:39:06 AM
Currently at:
$1.44M  -   tax-advantaged accounts + a lump sum pension available to pull when I retire

we also have 3 other pension accounts which will provide annuity income ...  probably about  $54K/yr

I would love to get to $2M but ... I plan to retire in 2019 either way.



Title: Re: Race from $1M to $2M
Post by: Bateaux on April 22, 2017, 06:47:08 AM
Love hearing all the responses.   I think that 2M invested is actually a real life changing point.  Crossing 1M broke the chains of depending upon any job if you so choose. You can take gap years, take lesser paying jobs you'll love, move to where you want to live or choose to live frugal and happy never working again.   2M gives you what I call projection power.  Working further is truly a personal choice.  You can be ultraconservative with withdrawal rate and still live a luxurious life.  You've likely guaranteed legacy funds for the heir or charity of choice.  Your stash will likely rise perpetually. The happiness level of  $75,000 annually is within 4% withdrawal rate.  Inflation will move this point in time to 3, 4 or 5 million for sure.  For the present  I think 2M is the sweet spot. It's not too hard to reach on an average salary if dedicated early in life. 
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 26, 2017, 03:33:40 AM
Crested $1.2 million today.  Next stop is $1.3.
Title: Re: Race from $1M to $2M
Post by: Car Jack on April 26, 2017, 07:41:37 AM
Crested $1.2 million today.  Next stop is $1.3.

You sound like me.  :D  that "7" spot takes a loooooong time to move but the "6" spot can click in with some good market days in a row (like this week).  I might splurge on a stash comb this week.
Title: Re: Race from $1M to $2M
Post by: PathtoFIRE on April 26, 2017, 09:34:21 AM
Didn't see this thread until today, our FIRE Networth crossed $1M in February 2017. This ignores the house, the mortgage, and the college funds; so just counts the bank accounts, pre- and post-tax retirement accounts, and the vested portion of my deferred compensation account. Assuming our jobs hold and barring unforeseeable disaster, we plan on directly adding about $150k/yr to the FIRE Net Worth, so assuming 7% yearly nominal market growth, we should cross the $2M threshold in about 4 years, although I like to think we are being a bit conservative, both in expected returns as well as being in a position to add more than $150k in the future. Pretty good number in line with some of you all, but it still depresses me a little because 1) I won't cross $2M before I need to re-certify for my boards [although good sense tells me I should do that anyway to have something to fall back on if I need to go back to earning $], 2) my youngest will still be almost half way to adulthood, and 3) $2m is not our final number. So to be honest I'm banking a little on being pleasantly surprised.
Title: Re: Race from $1M to $2M
Post by: ysette9 on April 26, 2017, 10:46:05 AM
Update on our situation: We are in contract to buy a house! We are both very excited about that and looking forward to moving in. The bummer side of it was that I had to move a bunch of $ out of Vanguard for the down payment, so our invested assets are only around $1.3+ now. It is a little sad to see that number drop, though it is for a good cause. I won't be included house equity in our numbers since our plan is to stay long-term. 
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 26, 2017, 08:12:34 PM
Crested $1.2 million today.  Next stop is $1.3.

You sound like me.  :D  that "7" spot takes a loooooong time to move but the "6" spot can click in with some good market days in a row (like this week).  I might splurge on a stash comb this week.
Yessir!  Love the effects of compounding!
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on April 26, 2017, 08:36:38 PM
Crested $1.2 million today.  Next stop is $1.3.

Congrats Cornbread. I am 100k behind you. Maybe I will rob a bank this weekend. If I do I will make sure to take at least 101k haha
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 27, 2017, 01:48:21 PM
Congrats Cornbread. I am 100k behind you. Maybe I will rob a bank this weekend. If I do I will make sure to take at least 101k haha
lol!  Well, I plan to contribute money for the next two years until I FIRE.  Then all contributions will stop.
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on May 01, 2017, 08:27:37 AM
$1.235M for 3/31/2017 at the end of the quarter. Not bad for not working. I keep saying it can't last much longer!

Well done. Gotta be great to see the stash still growing after having given the finger to the rat race.
23+% return in 10 months ?   Imagine if it was indicative though... ha ha...

And we are relatively conservative compared to some people here (about 80% equities, 20% bonds/cash/fixed income). Our equities are evenly split US and international, the latter has been quite under performing. I can only imagine what's been happening to someone's portfolio who is 100% US stocks!

I don't intend on changing anything, stay the course and not chase returns. I also mentally imagine a 20% drop so hopefully I will be ok with the shock when that happens!

Another month of not working, and more large increases. I won't bore with the numbers, but it is getting to the point where I worry a bit about this long sustained period of outsized returns. I don't know what else to do except stay the course.

I'm worried, in theory, but don't have a better alternative! Guess the best thing to do is forget about it and stay the course.
Title: Re: Race from $1M to $2M
Post by: farmecologist on May 01, 2017, 08:38:41 AM
$1.235M for 3/31/2017 at the end of the quarter. Not bad for not working. I keep saying it can't last much longer!

Well done. Gotta be great to see the stash still growing after having given the finger to the rat race.
23+% return in 10 months ?   Imagine if it was indicative though... ha ha...

And we are relatively conservative compared to some people here (about 80% equities, 20% bonds/cash/fixed income). Our equities are evenly split US and international, the latter has been quite under performing. I can only imagine what's been happening to someone's portfolio who is 100% US stocks!

I don't intend on changing anything, stay the course and not chase returns. I also mentally imagine a 20% drop so hopefully I will be ok with the shock when that happens!

Another month of not working, and more large increases. I won't bore with the numbers, but it is getting to the point where I worry a bit about this long sustained period of outsized returns. I don't know what else to do except stay the course.

I'm worried, in theory, but don't have a better alternative! Guess the best thing to do is forget about it and stay the course.

Yep..just stay the course.  Just don't freak out when the inevitable downturn happens!

 
Title: Re: Race from $1M to $2M
Post by: itchyfeet on May 01, 2017, 08:39:28 AM
I am still working, but when I look at the gains that have been rolling in, I start to wander why I am bothering.

Then I remember 20% annualized gains are not the norm, nor sustainable. Back to head down bum up for a little longer.
Title: Re: Race from $1M to $2M
Post by: Nangirl17 on May 04, 2017, 11:40:25 AM
I'm in! Sort of....
As of this month, our invested assets plus cash on hand = >1MM! BUT, that's Canadian dollars... however, if you include our paid off house, then it is back to the 1MM USD mark! =) If all agree, I'd love to join! 

Last year I went to part time work, joining my husband in his "semi-retirement", so the progression to 2MM will be much slower than some - I'm thinking around 10 years, at which point I suspect my husband will retire. I'm not sure what I'll do - for the most part I love my job, so we'll see how worn out I am in another 10 years! =)

I'm in the process of investing my tax return in ETFs and once I'm comfortable using the Questrade platform and figure out how to rebalance etc, I'll be switching over my investments from a financial planner (with an MER of >2.25%!) to ETFs with MERs between 0.18 and 0.35 - I'm following the Canadian Couch Potato portfolio recommendations. 

Title: Re: Race from $1M to $2M
Post by: itchyfeet on May 04, 2017, 12:16:36 PM
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?

Nah, I hope not.... well not actively anyways. If I get lucky and I spend less than my passive income post Fire, then maybe I will get there in real dollars. I should get there in nominal $ or I will run into problems 20 years or more from now.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on May 04, 2017, 06:49:28 PM
Just letting you know that the race from 2M to 3M is waiting for us all.  I'm here till investment assets crest 2M,  although I'd estimate NW has moved beyond 2M.  You guys are coming?  Right?
I'll definitely keep tabs on my numbers in the future but with the focus on estate planning.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on May 06, 2017, 10:03:56 PM
I'm in! Sort of....
As of this month, our invested assets plus cash on hand = >1MM! BUT, that's Canadian dollars... however, if you include our paid off house, then it is back to the 1MM USD mark! =) If all agree, I'd love to join! 
Methinks you fit this thread just fine.
Title: Re: Race from $1M to $2M
Post by: farmecologist on May 08, 2017, 07:19:23 AM
I'm in! Sort of....
As of this month, our invested assets plus cash on hand = >1MM! BUT, that's Canadian dollars... however, if you include our paid off house, then it is back to the 1MM USD mark! =) If all agree, I'd love to join! 
Methinks you fit this thread just fine.


Our house is paid off and that's what I'm doing...why?  Because I want to.  ;-).  There are no 'net worth police' here..for the most part.

Title: Re: Race from $1M to $2M
Post by: mr_orange on May 08, 2017, 02:09:51 PM
There are no 'net worth police' here..for the most part.

Good stuff ;-)
Title: Re: Race from $1M to $2M
Post by: Mama Bear on May 11, 2017, 03:56:33 AM
Hello!   I'm happy to join this forum.  We reached $1M in Nov 2016 (all investable assets in tax deferred accounts, no home equity included).   It feels good to have finally reached this point.  We've been married 15 years and I think we had a total of about $100K when we met.  They say the first million is the hardest!   We're up to $1.09M as of March 2017.   I'm secretly hoping for a market correction so we can pour some money into the market at a lower cost basis.   

Back in 2007-2008 we had a newborn baby and I was a stay at home mom... so we couldn't ramp up our savings to take advantage of the stock sale.  We stayed the course and kept maximizing my husband's 401k and it's turned out pretty well.  Now if we had a correction, we would make the most of it.  Of course it would hurt to drop below $1M, but we're used to the ups and downs.   

Our general plan is to have my husband quit work after we get to $2M.   I'll work 2-3 more years after that... until our son goes to college.  We want to rent out our house and hike the Appalachian Trail.   
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on May 11, 2017, 08:04:05 AM
I'm secretly hoping for a market correction so we can pour some money into the market at a lower cost basis.   
I think along the same lines having been able to take advantage of the tech bubble burst and the Great Recession by simply staying the course.  Getting more shares at a lower cost basis from a market correction would be another great boost for me.  I have the wherewithal to ride out another downturn.
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on May 17, 2017, 07:05:25 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.
Title: Re: Race from $1M to $2M
Post by: Goldy on May 27, 2017, 06:53:49 AM
Just passed the 1.4 mark (1.28 invested) and logged a 12 month gain of $308k.  If we can keep that annual gain going we might be done sooner than I thought. 
Title: Re: Race from $1M to $2M
Post by: marty998 on May 27, 2017, 07:00:17 AM
Note quite here yet...

I appear to be stuck at about $950k - have not really moved for about 6 weeks now, which will delay my entry into this race from September maybe out to December or even 2018.

A little disappointing, but in a market that has come off 3% from the top it's nice to still be steady.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on May 27, 2017, 12:01:12 PM
Note quite here yet...

I appear to be stuck at about $950k - have not really moved for about 6 weeks now, which will delay my entry into this race from September maybe out to December or even 2018.

A little disappointing, but in a market that has come off 3% from the top it's nice to still be steady.

Yeah, Aussie stocks and Sydney property have slowed us down too, but thankfully the FTSE has been strong amd I have a bit invested in the UK ATM.

I will be interested to see how my NW looks for 31 May. It does seem that auction results in Sydney were quite good this week, so we shall see.

We are very close to $2M USD, but just can't quite get across the line yet.
Title: Re: Race from $1M to $2M
Post by: chasesfish on May 27, 2017, 12:10:47 PM
I'll join in on this one..

$1mil on August of 2015...

Who knows if I'll hit $2mil, may retire before that.  Eclipsed $1.35mil this past week

Numbers include home equity
Title: Re: Race from $1M to $2M
Post by: RetirementDreaming on June 01, 2017, 06:10:49 PM
$1.2M as of end of May.  Hit 1M on 11/15/16 so it's been a good 6 months. 
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on June 01, 2017, 06:54:14 PM
$1.2M as of end of May.  Hit 1M on 11/15/16 so it's been a good 6 months.
Now that is the HEAT!
Title: Re: Race from $1M to $2M
Post by: itchyfeet on June 01, 2017, 09:43:05 PM
$1.2M as of end of May.  Hit 1M on 11/15/16 so it's been a good 6 months.
Now that is the HEAT!

Arrgghh, meanwhile we have stalled and went backwards last month by 20K.
Title: Re: Race from $1M to $2M
Post by: arebelspy on June 16, 2017, 09:14:56 PM
I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

Sure, it's a great goal.

But why would you need to get there while working?  ;)

I really think 2M is a good goal for most.   I would hate leaving a high paying field in middle age when I lack the passive income to live comfortable, with health care and able to travel.

It is. once you get in this group I would(and am) start building passive assets that can support you until it meets expenses, then you can let your money grow on it's own and work if you want to.

+1

As MMM said, First retire, then get rich (https://forum.mrmoneymustache.com/continue-the-blog-conversation/first-retire-then-get-rich/) (see first link in that thread).

My plan is to have my net worth grow and grow in ER (see the quote in that thread re: "asset runaway").  So far, after two years of ER, NW is up 16%.

Sure, if I had kept working, maybe it'd be up 30% instead, but...who cares?

I have enough.  Would I sell those two years of my life for a little more money?

Hell no. I have enough. Why on earth would I need any more? :)

The last two years have probably been the best of my life. Even though I was in a job I loved doing, I very much am enjoying doing other things now, too. I wouldn't sell that time for mere money.
Title: Re: Race from $1M to $2M
Post by: WildJager on June 26, 2017, 05:24:06 PM
I'm down to play.  Our current NW is already well above what we need.  Our current yearly spending is around $25k (budgeted $30k).  $1m was my goal for a 3% WR.  Due to contractual obligations, we've got another 4 years working.  Because of the healthcare flux, I'm not too upset to be forced into forced work, but on a day to day basis the grind can be exhausting.  We both have low paying work that we'd like to do part time, so being forced to do a job we're not thrilled of can be a burden.  Can't complain too much though, the pay is more than we deserve. 

Currently sitting at $1.25m.  Expect to be over $2m by the time we can punch.  We should be able to let the nest egg grow and sit very comfortably for the rest of our lives.  Future plans include slow travel, fun work we enjoy, and eventually homesteading once we're ready to settle down.  Life's good.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on June 28, 2017, 10:24:39 PM
And the stock market marches on.
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on July 01, 2017, 10:57:00 AM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

And at $1.2M at 1/31/2017

Presumably this particular rally will end sooner or later, it won't be as long as I thought if it keeps up like this (not that I expect it to)

$1.235M for 3/31/2017 at the end of the quarter.
Not bad for not working. I keep saying it can't last much longer!

$1.267M for 6/30/2017 at the end of the second quarter.
Still not working, and we bought a car and had a baby during that time, so apparently the rally kept going..
Gains in June were relatively much smaller than in the months before
It's fun to project out those kind of quarterly gains to the entire year, but I image it will end up more modest
Title: Re: Race from $1M to $2M
Post by: talltexan on July 05, 2017, 02:26:00 PM
My net worth is still below $1 million (although it would be fun to hand wave away about $220,000 in debt and consider only the assets column). But I plan on graduating from the six-figure club some time in the next year, as long as there is decent market appreciation.
Title: Re: Race from $1M to $2M
Post by: Melisande on July 05, 2017, 07:56:00 PM
We got our quarterly investment statements today so I recalculated our net worth. I came up with $1,993,000 (mostly in investments & cash). Seven thousand to the next big milestone!

Mr. Melisande is planning on working at least 8 more years (he doesn't want to retire early, although I have), so maybe we'll make it up to 2.5M or even more.

Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on July 05, 2017, 08:48:18 PM
We got our quarterly investment statements today so I recalculated our net worth. I came up with $1,993,000 (mostly in investments & cash). Seven thousand to the next big milestone!

Mr. Melisande is planning on working at least 8 more years (he doesn't want to retire early, although I have), so maybe we'll make it up to 2.5M or even more.

I think there's also a thread on here in the race from $2 million to $3 million
Title: Re: Race from $1M to $2M
Post by: Melisande on July 06, 2017, 04:57:42 AM
We got our quarterly investment statements today so I recalculated our net worth. I came up with $1,993,000 (mostly in investments & cash). Seven thousand to the next big milestone!

Mr. Melisande is planning on working at least 8 more years (he doesn't want to retire early, although I have), so maybe we'll make it up to 2.5M or even more.

I think there's also a thread on here in the race from $2 million to $3 million

Thanks, found the thread!
Title: Re: Race from $1M to $2M
Post by: webguy on July 06, 2017, 10:11:54 PM
Count me in. I love these threads as I like seeing progress over time.  I'm carrying over my progress from the 500k-1m thread if that's OK..

I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

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

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

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

Currently at $1.11m.  Don't really have a goal number at this point. I love running my own business so just tryna ride it out as long as possible and "make hay while the sun shines" as they say.

Passed the half way point!  Somehow we have $1.535m. Not sure how long the next 0.465 will take but I'll report back if we get there!
Title: Re: Race from $1M to $2M
Post by: Bateaux on July 07, 2017, 01:42:04 AM
I truly love these threads, all of them. You can feel the positive energy in every post, whether it's the 100k or $1,2,3 and beyond million dollar threads.  I can't sleep and work is in a few hours.  Nice to know you really don't have if you choose not to anymore.
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on July 08, 2017, 04:31:29 AM
Dollar change since January 1, 2017 to investment accounts 83,000; Gross pay 82,000; winning. 
Title: Re: Race from $1M to $2M
Post by: talltexan on July 10, 2017, 01:42:30 PM
how much of that dollar change is your own saving versus how much is change in value of existing 'stache?
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on July 10, 2017, 07:23:35 PM
My Vanguard accounts are up 8.7% for the year so far.
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on July 11, 2017, 05:45:22 AM
how much of that dollar change is your own saving versus how much is change in value of existing 'stache?

I would guess 'stache growth is more than 50% at least for this year.
Title: Re: Race from $1M to $2M
Post by: farmecologist on July 11, 2017, 07:27:49 AM
how much of that dollar change is your own saving versus how much is change in value of existing 'stache?

I would guess 'stache growth is more than 50% at least for this year.

Our stache has grown at an amazing rate lately too.  The only problem is that I've become less motivated at work...which isn't good!  I think the inevitable stock market 'correction' will be the kick in the pants I need...although I'm certainly not hoping for one.

Title: Re: Race from $1M to $2M
Post by: desk_jockey on July 11, 2017, 01:42:11 PM
Our stache has grown at an amazing rate lately too.  The only problem is that I've become less motivated at work...which isn't good!  I think the inevitable stock market 'correction' will be the kick in the pants I need...although I'm certainly not hoping for one.

I'm hoping for one.   I'm ~3 years away from FI and around halfway through this race.  I'd prefer to have a correction in these next few years than see the market keep climbing steadily and see a PE 10 north of 37 around the time that I'm thinking to pull the trigger.   
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 15, 2017, 10:52:11 AM
Our stache has grown at an amazing rate lately too.  The only problem is that I've become less motivated at work...which isn't good!  I think the inevitable stock market 'correction' will be the kick in the pants I need...although I'm certainly not hoping for one.

I'm hoping for one.   I'm ~3 years away from FI and around halfway through this race.  I'd prefer to have a correction in these next few years than see the market keep climbing steadily and see a PE 10 north of 37 around the time that I'm thinking to pull the trigger.
This is my mindset too.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on July 16, 2017, 03:02:24 PM
Not exactly sure what the accounting rules are for measuring the $2M.. but..

We are at

$1824k.. investible.
 $519 k.. Pension value
 
$2343k Total liquid.

House (including rentals I'm guessing at maybe $400k),

We don't have any kids.. yearly spend is around $35k and we get about $20k/yr in rent. We are now both RE'd and intend to do some travel.
Title: Re: Race from $1M to $2M
Post by: Bateaux on July 21, 2017, 12:38:22 AM
All that and you're gonna spend 35K ?

Holy smokes.   Hope you have a good charty since you have no kids.  Enjoy it.  You've arrived!
Title: Re: Race from $1M to $2M
Post by: Exflyboy on July 21, 2017, 10:48:19 AM
All that and you're gonna spend 35K ?

Holy smokes.   Hope you have a good charty since you have no kids.  Enjoy it.  You've arrived!

Well what we need to spend vs what we will spend might be slightly different.. Gee we might take a huge trip every year and spend $60k... Wait.. Thats still only 1.7% WR..:)

In seriousness though, we don't expect to be landlords forever, maybe another 5 years perhaps.
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on July 21, 2017, 02:22:54 PM
The more the market goes up and my stash goes along with it has an inverse correlation to my motivation at work. It's really hard to make myself get up and go everyday.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on July 21, 2017, 02:37:33 PM
Yup.. I totally get that and I remember it well..:)
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 21, 2017, 03:21:26 PM
The more the market goes up and my stash goes along with it has an inverse correlation to my motivation at work. It's really hard to make myself get up and go everyday.
Me too!!
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on July 21, 2017, 08:55:25 PM
The more the market goes up and my stash goes along with it has an inverse correlation to my motivation at work. It's really hard to make myself get up and go everyday.
Me too!!

It's so bad that some mornings I wake up and my first thought is "What would happen if I didnt go in today" haha
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 22, 2017, 11:35:30 AM
It's so bad that some mornings I wake up and my first thought is "What would happen if I didnt go in today" haha
I caught myself thinking this too as morale in my office deteriorated since January 2017.  When things started sucking my mind drifted off to dream of better things; I knew I had an exit plan.  But most of my mates don't.  I knew I couldn't slack off and increase the burden on my office mates; I still had to carry my weight in the office.  Fortunately for me my time in my current job is coming to a close, and I'm departing in a positive light as a guy who contributed to the team.  I'll be moving on to bigger and better things and retirement paperwork is not long away.
Title: Re: Race from $1M to $2M
Post by: Bateaux on July 22, 2017, 01:13:40 PM
Riding my bike alone in the rain yesterday, I was just thinking how much I loved just riding my bike.  How little money it costs to just ride my bike.  Then I think about being forced to work overtime this weekend.   What if I just don't go?  I have no debt so bill collecters won't be calling. Some quick 25X math in my head told me $70,000.  That's what you'd draw from your stash if you just kept riding.  2019
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 23, 2017, 02:48:47 PM
...2019...
Oh, yeah, cohort 2019!
Title: Re: Race from $1M to $2M
Post by: itchyfeet on July 24, 2017, 02:18:05 PM
Riding my bike alone in the rain yesterday, I was just thinking how much I loved just riding my bike.  How little money it costs to just ride my bike.  Then I think about being forced to work overtime this weekend.   What if I just don't go?  I have no debt so bill collecters won't be calling. Some quick 25X math in my head told me $70,000.  That's what you'd draw from your stash if you just kept riding.  2019

I am currently on vacation cycling across a chunk of Europe. I am in Hungary at the moment, and realised I am spending signicantly less than a 4% withdrawal rate would permit, yet I am still working.

I said to DW we could just keep doing this amd not go back to work... but we couldn't afford to have an empty home base to return to when the cycling gets old.

Working till 2019 would mean owning a home base amd still having enough cash to cycle across Europe, staying in pretty nice hotels amd eating out most days.
Title: Re: Race from $1M to $2M
Post by: Acorns on July 25, 2017, 03:34:38 PM

I am currently on vacation cycling across a chunk of Europe. I am in Hungary at the moment, and realised I am spending signicantly less than a 4% withdrawal rate would permit, yet I am still working.


Totally o/t of the thread, but this sounds like an awesome vacation! I would love to hear more of the details.
Title: Re: Race from $1M to $2M
Post by: Cache_Stash on July 26, 2017, 12:16:44 PM
Dollar change since January 1, 2017 to investment accounts 83,000; Gross pay 82,000; winning.
I'm almost there with you!  Investment change: $78,000; Gross pay: $72,500.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on July 26, 2017, 12:45:56 PM

I am currently on vacation cycling across a chunk of Europe. I am in Hungary at the moment, and realised I am spending signicantly less than a 4% withdrawal rate would permit, yet I am still working.


Totally o/t of the thread, but this sounds like an awesome vacation! I would love to hear more of the details.

DW and I are just cycling from Germany to Budapest, generally following the Danube. The section from Passau to Vienna is extremely popular with peeps on bikes (especially older folk and families) as it is quite flat and really well set up for cycling holidays. Maybe too popular for some. We didn't mind it. Now we are in Hungary and we only see a handful of touring cyclists each day, which also has some appeal.

We have been cycling 50-90kms each day. It is just a 2 week vacation for us.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on July 30, 2017, 10:33:16 AM
Haha, so many questions.

We had a company shuttle our suitcases to hotels for us as this was DW's first time cycling as an adult.

The trip was a success and She is keen to ride unsupported next, and to take on a bigger challenge. Meeting others on the road carrying camping gear etc helped to show what was possible.

DW was basically scared of bikes prior to doing this. It was a big deal that she agreed to do this.

We did very little preparation. We borrowed a bike for DW about a month ahead of going, and we rode together maybe twice a week for that month, building up to 50km rides.

Due to the lack of prep, the first few days were tiring and our legs were sore, but we got cycle fit pretty quick and by the end of the two weeks our legs were good.

We had no rest days. Just rode 12 days straight from Passau to Budapest. I'd recommend to anyone else doing it to have a rest day in Vienna mid ride, although it was ok without one as day 8 was only 20kms so was basically a rest day (day 9 was 85kms our longest day). Anyhow, having only half a day in Vienna didn't allow for much sight seeing so an extra day there would have been good.

The section from Passau to Vienna is perfect for non-cyclists as it is pretty much dead flat (unless you do some side trips like we did into the surrounding hills) and there are restaurants every few kms to act as a distraction.

The scenery is also probably more spectacular over this section, but the downside is that you will see hundreds of cyclists every day. Most cyclists are over 60s retirees. Many are families. This didn't detract from our enjoyment, but undoubtedly will be a big turn off to some. I have heard that in August it's pretty painful with so many kids on the route.

From Vienna onward we saw only a handful of cyclists each day, and a lot of the riding was through farming areas without the glorious views of quaint riverside villages we had on the first part. But the pay-off on the section from Vienna to Budapest was that the towns and cities we stopped at each night were more interesting places than the first part of the trip (eg: Bratislava, Gyor, Visegrad). The last 2 days into Budapest were really nice rides.

In the end, I'd recommend both halves of the ride. The whole trip is a great, safe, easy introduction to cycle touring. The distances were 50-60kms each day. We ended up riding a little over 600kms over the 12 days.
Title: Re: Race from $1M to $2M
Post by: chasesfish on July 31, 2017, 04:55:51 AM
Does anyone else feel like your numbers get "stuck" for a while...?  I'm there...invested assets can't seem to crack $1.2mil

I've been out of the individual stock game for a long time, but still carry about 25% of my portfolio in a nice mix of companies.  The Amazon/Whole Foods announcement whacked 12% off Costco's value then a bad report by an auto parts firm whacked my Genuine Parts holdings...

I've owned them for a while and they pay nice dividends, so my basis is low and I'm holding off/selling these until ER when I have a 0% Capital Gains rate.  It just kills me to be 60%+ passive investing and trailing the market.
Title: Re: Race from $1M to $2M
Post by: wannabe-stache on July 31, 2017, 07:58:02 AM
My #Number is 1.4M to 1.625M, but I only have ~230k invested (330k+ total) right now. (though increasing fast)

I think you'll find that MOST here never plan on hitting 2 million and quite a few are done in the 750k zone.

By the time I can officially join this race, you'll probably be done! (another 6-8 years or so...)

We are at $1.6M but that excludes the house and $150K in cash.  i always like to be conservative but wondered what others do when modeling FI.  i don't want to include cash in my net worth as it won't earn 5/6/7% like equities will.  And i don't include the house as well, but perhaps if i turned it to a rental i would.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on August 01, 2017, 12:57:45 AM
I do include equity in my home (although currently we are not living there and have rented it out) when calculating NW. However, for FIRE I do not include the home equity in calculating the stash I need for funding FIRE. Maybe this is inconsistent but whatever!

Regarding cash, I do include that in the stash amount. I only plan to hold 2% of
my stash in cash (ie: 6 months costs, which could be stretched to last 12 months in a crisis). Yes, the cash is a slight drag on returns, but is also a hedge against market volatility, as are bonds/ fixed income Investments.

For my stash to last 40 years it needs to average 2.6% real returns. So whilst stocks might return 4-7% above inflation, the average return doesn't need to be this high so the lower returning investments protect against sequence of return risk.
Title: Re: Race from $1M to $2M
Post by: farmecologist on August 01, 2017, 11:04:56 AM
I do include equity in my home (although currently we are not living there and have rendered it out) when calculating NW. However, for FIRE I do not include the home equity in calculating the stash I need for funding FIRE. Maybe this is inconsistent but whatever!

Regarding cash, I do include that in the stash amount. I only plan to hold 2% of
my stash in cash (ie: 6 months costs, which could be stretched to last 12 months in a crisis). Yes, the cash is a slight drag on returns, but is also a hedge against market volatility, as are bonds/ fixed income Investments.

For my stash to last 40 years it needs to average 2.6% real returns. So whilst stocks might return 4-7% above inflation, the average return doesn't need to be this high so the lower returning investments protect against sequence of return risk.

Pretty much the same here.   Since it is fully paid off, we include the house for net worth calculations.  However, we do not include the house for FIRE (investment) calculations.

Title: Re: Race from $1M to $2M
Post by: BoonDogle on August 01, 2017, 02:45:13 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.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on August 01, 2017, 04:56:29 PM
Does anyone else feel like your numbers get "stuck" for a while...?  I'm there...invested assets can't seem to crack $1.2mil

I've been out of the individual stock game for a long time, but still carry about 25% of my portfolio in a nice mix of companies.  The Amazon/Whole Foods announcement whacked 12% off Costco's value then a bad report by an auto parts firm whacked my Genuine Parts holdings...

I've owned them for a while and they pay nice dividends, so my basis is low and I'm holding off/selling these until ER when I have a 0% Capital Gains rate.  It just kills me to be 60%+ passive investing and trailing the market.

I think my investments are approaching a 10% return this year so far, not even counting what I contributed, and this is because I'm in index funds, US and international.
Title: Re: Race from $1M to $2M
Post by: talltexan on August 02, 2017, 02:34:53 PM
just logged into my Roth IRA fund and checked...up another 3% over the past quarter...If I can maintain 3%/quarter forever I'm good!
Title: Re: Race from $1M to $2M
Post by: Bateaux on August 02, 2017, 11:02:58 PM
I can still remember the first time I heard of the 4% rule.  I think it was in the 90s listening to Bob Brinker.  My tiny stash was less than 6 figures.  My heart was broken.  Where'd this voice on the radio come up with such a figure.  My whole stash would yield me less than $4000 a year.  Who am I kidding?  Why do I even bother saving at all.  It's two decades later now.  The stash has been untouched and growing all the while.  Now it's worth something.  Now we could actually live on 4%.  In fact, we're down to the last 1/8 of our savings goal.  It won't take nearly 1/8 of the time to get there.  That first 1/8 was hard and long.   Now we're like a boat with it's engine cut and drifitng to the dock.  The momentum will take us to the finish.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on August 02, 2017, 11:40:36 PM
I can still remember the first time I heard of the 4% rule.  I think it was in the 90s listening to Bob Brinker.  My tiny stash was less than 6 figures.  My heart was broken.  Where'd this voice on the radio come up with such a figure.  My whole stash would yield me less than $4000 a year.  Who am I kidding?  Why do I even bother saving at all.  It's two decades later now.  The stash has been untouched and growing all the while.  Now it's worth something.  Now we could actually live on 4%.  In fact, we're down to the last 1/8 of our savings goal.  It won't take nearly 1/8 of the time to get there.  That first 1/8 was hard and long.   Now we're like a boat with it's engine cut and drifitng to the dock.  The momentum will take us to the finish.

Yes, the race to the finish line is rapid. So far for this year our investment returns are higher than our salaries, and our growth in Net Worth is double what we are spending (since we only spend half our salary).

However, I don't want to cut our engines until  our boat is well and truly beached.... somewhere nice and sunny with lush forest fringing the beach :-).

We will keep full throttle the whole way - maybe it is through fear that if we cut the engines and coast the tides of the bull market will turn and the bear tide will push us back out to sea.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on August 03, 2017, 03:08:37 AM
Yup same here.. 50% pullback would still leave us enough but I'd be nervous :)
Title: Re: Race from $1M to $2M
Post by: Bateaux on August 03, 2017, 06:07:34 AM
Still pushing with both screws for another 22 months.
Title: Re: Race from $1M to $2M
Post by: RetirementDreaming on August 31, 2017, 06:34:28 PM
Getting closer....

11/16 1.0M
5/17 1.2M
8/17 1.28M
Title: Re: Race from $1M to $2M
Post by: Bateaux on August 31, 2017, 07:04:39 PM
I get all excited when I see a new post here.  Great job RetirementDreaming
Title: Re: Race from $1M to $2M
Post by: itchyfeet on September 01, 2017, 01:38:33 AM
Getting closer....

11/16 1.0M
5/17 1.2M
8/17 1.28M

280K increase in 9 months is pretty f&cking impressive :-)

We are having a similarly good time of it ATM as well.... reminds me I should tally up where we have ended August at.
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 01, 2017, 03:55:54 AM
We've just kinda held the last month or so.  Had some annual expenses hit.  Home insurance,  flood insurance,  car insurance and losts of home maintenance costs. 
Title: Re: Race from $1M to $2M
Post by: itchyfeet on September 01, 2017, 04:46:49 AM
We've just kinda held the last month or so.  Had some annual expenses hit.  Home insurance,  flood insurance,  car insurance and losts of home maintenance costs.

We went backwards a little too (as detailed in the Class of 2019 thread).

C'est la Vie.

I am still in awesome financial shape!!
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 01, 2017, 06:59:35 AM
Rechecked Mint.  Actually net worth is a smidge above previous all time high.  Cash is lower but investments have grown.  We're still working so unless we spend like idiots or the market tanks the trend will be new all time highs in NW by at least 15k a month. 
Title: Re: Race from $1M to $2M
Post by: bernieb on September 01, 2017, 07:28:06 AM
I'm in.

Canadian $

TNW 1.88 M based on - Invested and cash 1.45 M and home equity 430 k

Looking to get to 2 M total invested and then convince my wife that I can retire.....
Title: Re: Race from $1M to $2M
Post by: zinethstache on September 01, 2017, 07:20:59 PM
I am in too!

However, the race for me might be very, very slow! I am FIREd so the increase in our stash is based on appreciation and our profits from increases in the stock market.

We started the year somewhere around 1.3m and were inching along and are closer to 1.4m now due to our rentals increasing according to Zillow (the only real measure I have, but typically Zillow has been below actual selling price in my region so this is pretty conservative) and my IRA is going crazy even though I am 70/30 AA. It was 367k in Jan and is now 413k as of today.

This thread will make me pay more attention to these factors. We are not technically drawing off of our investments at this time, but we will be cashing out one of my two pensions next year. We live almost exclusively on our rental income having dipped into my stashed 2017 income for a few travel items (I worked through most of January and got my annual bonus in March).

It is fun to see how everyone is doing! I hope it doesn't end up making me want to work again:(
Title: Re: Race from $1M to $2M
Post by: marty998 on September 01, 2017, 10:48:10 PM
Hi guys, finally made it to this thread. Start today at $1,009,000.

Onwards we go, should get to $1,024,000 by the end of September... bonus season at work :)

Good luck, inspired by you all!
Title: Re: Race from $1M to $2M
Post by: Dicey on September 02, 2017, 12:34:03 AM
Hi guys, finally made it to this thread. Start today at $1,009,000.

Onwards we go, should get to $1,024,000 by the end of September... bonus season at work :)

Good luck, inspired by you all!
Congratulations, marty998! The first one is the hardest. From here, you'll pick up speed.
Title: Re: Race from $1M to $2M
Post by: marty998 on September 02, 2017, 03:16:36 AM
Hi guys, finally made it to this thread. Start today at $1,009,000.

Onwards we go, should get to $1,024,000 by the end of September... bonus season at work :)

Good luck, inspired by you all!
Congratulations, marty998! The first one is the hardest. From here, you'll pick up speed.

Thankyou Dicey :)

I've noticed a little bit of moss growing on the compounding rock...

Magic that stuff is ha
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on September 02, 2017, 05:07:40 AM
Hi guys, finally made it to this thread. Start today at $1,009,000.

Onwards we go, should get to $1,024,000 by the end of September... bonus season at work :)

Good luck, inspired by you all!
Come right aboard!
Title: Re: Race from $1M to $2M
Post by: itchyfeet on September 02, 2017, 05:22:15 AM

Congratulations Marty.

Not so easy to get the compounding rock rolling as an Aussie this year.

1. Invest in local shares - ASX is flat as a tack this year
2. Invest in international shares - the AUD strengthening against the USD has likely offset any gains on international shares.
3. Invest in property - property market looks maxed out. However, this certainly has been a driver of NW growth for the past few years.
4. Invest in fixed interest - Interests rates are on the up making fixed interest a potentially bad investment.
5.increase your wages - wages growth ain't happening.


.... and yet here you are amassing your first million!

Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on September 02, 2017, 07:31:26 AM
I just ticked over $1.3m. 

I expect to fall back a bit over the next few months as I changed housing and bought for location and bones and am in the mist of modest cosmetic renovations.  But I'm excited to see how things go.  With the changed I now have an additional $200,000 invested as my previous house was paid for and now I have a modest mortgage of that amount.  This also brings my NW minus the primary residence up to over $1m for the first time.
Title: Re: Race from $1M to $2M
Post by: FireLane on September 03, 2017, 07:54:48 PM
Hi all! I've graduated the 500K-to-1M thread, so I'm happy to join you fine people here.

As of the beginning of September, my NW stands at $1,000,297.32 in cash and investments, plus ~$240K in home equity. Kind of crazy to think that I'm worth seven figures.

I don't know if I'm actually aiming to reach $2 million in NW. My current plan is to retire at $1.5M invested. My original projections said that would happen near the end of 2020, but I'm more than a year ahead of schedule already, so who knows.

Depending on what happens in the market, whether I end up buying a bigger house and especially on what happens with health care, I may end up working part-time for a few more years after I hit my target to pad the stash some more. If I end up having way more money than I need, I'll donate the extra to a DAF and do a little philanthropy to some worthy organizations.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on September 04, 2017, 04:30:10 PM
Hi all! I've graduated the 500K-to-1M thread, so I'm happy to join you fine people here.
Welcome to the thread, FireLane!
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 05, 2017, 01:51:28 AM
Wow.  Bam, bam, bam!  New Members for the Double Comma Club!  Welcome aboard, you've arrived at the place only your dreams existed years ago.  Well done.   So happy to have fresh people in this thread.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 05, 2017, 09:17:36 AM
Agreed.. It feels a bit lonely up here sometimes..:)
Title: Re: Race from $1M to $2M
Post by: MM_MG on September 05, 2017, 10:14:59 PM
I'll play. 

Investments and cash ~$1.2, total net worth around $1.8 counting personal property and home equity (the latter doesn't really factory into my retirement equation). 

A Bateaux post about target numbers brought me to this thread, but I'll stick around for motivation.  Doubt we'll cross $2M in net worth this year, but than again I didn't expect to get the returns I've been getting this year either.  I keep waiting for a "correction" but I'll enjoy the numbers while they last.   Still have a ways to go to meet our goals, and we expect a 10-17 year work horizon in front of us...so far.  :) 
Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 05, 2017, 11:43:31 PM
I doubt it will take that long assuming you're still contributing.
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 06, 2017, 01:12:37 AM
I'll play. 

Investments and cash ~$1.2, total net worth around $1.8 counting personal property and home equity (the latter doesn't really factory into my retirement equation). 

A Bateaux post about target numbers brought me to this thread, but I'll stick around for motivation.  Doubt we'll cross $2M in net worth this year, but than again I didn't expect to get the returns I've been getting this year either.  I keep waiting for a "correction" but I'll enjoy the numbers while they last.   Still have a ways to go to meet our goals, and we expect a 10-17 year work horizon in front of us...so far.  :)

Dude I don't know how the hell I ended up here.  Simplicity and persistence must work, because I've got no game at all.  Welcome aboard.
Title: Re: Race from $1M to $2M
Post by: FireLane on September 06, 2017, 06:55:22 PM
Dude I don't know how the hell I ended up here.  Simplicity and persistence must work, because I've got no game at all.  Welcome aboard.

I feel the same way. I don't trade complicated financial derivatives or spend my spare time working out how to game the tax laws. I've just been plodding along, putting a few thousand into simple, boring index funds each month... then I look up and find my net worth is $400,000 greater than this time two years ago. The compounding really sneaks up on you!
Title: Re: Race from $1M to $2M
Post by: HappierAtHome on September 08, 2017, 01:27:26 AM
I'M JOINING THE GAUNTLET :D
Title: Re: Race from $1M to $2M
Post by: stashgrower on September 08, 2017, 02:24:16 AM
oh congrats, marty and Happier!!
Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 08, 2017, 08:23:04 AM
Great to see more players here..:)
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 08, 2017, 09:19:17 AM
Ya'll come on in!!!
Title: Re: Race from $1M to $2M
Post by: marty998 on September 09, 2017, 05:39:38 PM
Thanks guys. My rem letter came last week. In keeping with the theme of incredibly low wages growth in Australia I got a 1% increase. That was not unexpected, and followed a 9.5% increase last year.

At least I'm pretty sure I won't get restructured anytime soon.

My bonus came in on expectations which was nice, so yep it is onwards and upwards. I expect I'll able to throw a significant amount at VAS over the next month. My super will also get a little boost as well with the bonus payment attracting a super contribution too...

My parents mentioned to me last week that it might be time to draw up a will. I just need to find the time to go to a legal shop and do it...
Title: Re: Race from $1M to $2M
Post by: bernieb on September 11, 2017, 09:20:18 AM
Does anyone in this 1-2 M zone use a financial adviser for any part of their portfolio management?  I have 2/3 of my $ with a financial person and 1/3 through etf passive funds. I am now about ready to switch all to passive ETF investing.   Only thing holding me back are that the net returns are about even for both sides from what I see over the past year and ytd.

Title: Re: Race from $1M to $2M
Post by: carstenjames on September 11, 2017, 09:33:10 AM
Does anyone in this 1-2 M zone use a financial adviser for any part of their portfolio management?  I have 2/3 of my $ with a financial person and 1/3 through etf passive funds. I am now about ready to switch all to passive ETF investing.   Only thing holding me back are that the net returns are about even for both sides from what I see over the past year and ytd.

Bernie,

Financial Advisors can be a good thing for those who are not interested in paying attention to their finances or for those that aren't willing / do not understand the basics of the stock market.  With that said they don't possess any special knowledge that allow you to beat the market more than others.

A one to two year period is unlikely to be enough data to say that the returns are the same.  In general research shows that the number one predictor of future returns is fees.  I personally am not the index fund evangelist that many are but it is a good strategy.  I would pick whatever makes you sleep better at night.  If you enjoy talking with your advisor, and they give you advise that is useful / teaches you something stick with them.  If you are worried that you could be doing better with a basket of low-cost etfs then go that route.

For what it's worth, I have a selection of index funds, active managed funds, and stocks I've picked myself.  My portfolios, over the past 13 years (knock on wood) have beaten the market by an average of 5%.

-Carsten
Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 11, 2017, 09:34:29 AM
The returns might be the same now but typically in the long term the etfs will do better at much lower cost.

If you are using an adviser the standard advice is to use a "fee only" adviser.. I.e you pay them for their time rather than pay them and increased APR % on your portfolio.

I'm completely DIY.
Title: Re: Race from $1M to $2M
Post by: dogboyslim on September 11, 2017, 11:05:55 AM
Does anyone in this 1-2 M zone use a financial adviser for any part of their portfolio management?  I have 2/3 of my $ with a financial person and 1/3 through etf passive funds. I am now about ready to switch all to passive ETF investing.   Only thing holding me back are that the net returns are about even for both sides from what I see over the past year and ytd.

Investing has two camps that can make sense.  In camp one are professional investors.  They spend all day looking for solid, but undervalued companies, or solid dividend paying companies.  These investors then place large stakes on these few bets, hoping to take advantage of market knowledge asymmetry.  These investors take a great deal of specific investment risk on top of the systemic risk of the market as a whole.

Camp two is to diversify away as much specific investment risk as possible by buying the market.  This is done typically through index funds or index ETFs.  These are usually very low fee investments.  This investor is betting on the overall marketplace to improve.  They won't see the large increases seen by the group above, but they don't face the prospect of as much loss either.  Depending on the desired stability of returns, this group can invest a portion of their funds at the risk free rate (typically treasury bonds in the US) to reduce the variance of returns, but also reducing the expected value.

If you want to do camp one, you need to really spend a lot of time looking at companies and comparing/contrasting them to the market.  Some people choose a limited option of camp one for the industry they know well, but camp two for everything else.  An investment advisor can help explain the mechanisms by which you can achieve the targeted goals above, or they could help you determine what mix makes sense for you.  As others have said, do this on a fee for time basis rather than a fee as commission basis.  Also, don't hand trading rights to your investor unless you really trust them both to know what makes sense for you and to always act in your interests.  The only person that meets that burden for me is my spouse, but she isn't a broker.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on September 11, 2017, 12:10:38 PM
I'm another one without an advisor.

I am likely to get some tax structuring advice soon, although tbh I probably won't be very trusting of the advice I get.

I will listen but....

I am very sceptical of other people's claimed knowledge, and their ability to truly understand what I personally want/ need. Maybe I will be pleasantly surprised.

On the finance front, my NW is split about 50/50 between index funds and residential property.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 11, 2017, 02:18:12 PM
This...

https://finance.yahoo.com/video/warren-buffett-wins-1m-bet-165453788.html
Title: Re: Race from $1M to $2M
Post by: bigchrisb on September 11, 2017, 05:19:07 PM
Does anyone in this 1-2 M zone use a financial adviser for any part of their portfolio management?  I have 2/3 of my $ with a financial person and 1/3 through etf passive funds. I am now about ready to switch all to passive ETF investing.   Only thing holding me back are that the net returns are about even for both sides from what I see over the past year and ytd.

I have self managed for financial planning, but have paid some serious $ for structural and taxation help from a good quality accountant.  It hasn't been cheap, but it has been good value.

I had a free hit for some fee for service financial planning as part of an insurance payout (I could claim back $2,500 of fee for service financial planning costs).  It was good to get a fresh set of eyes, and they asked some useful questions.  There was one actionable change from that session (for the Australian readers, it had to do with there being the ability to gain early access to superannuation if suffering from total and permanent disability, which encouraged me to put some additional funds into super at a lower tax rate than a family trust).  The financial planning session was useful for a sanity check, but I wouldn't pay for it again.

I will note that I already had fairly complex tax planning in place to hold assets, including a company, trust and self managed super fund.  Had I not been doing these already, there may have been some additional value.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on September 12, 2017, 10:57:02 AM
I don't use a financial advisor at all. It's pretty simple to structure your portfolio as just a few total market index funds. There's nothing magical or confusing or complicated required.
These passive index funds beat active management every time.
Title: Re: Race from $1M to $2M
Post by: farmecologist on September 12, 2017, 03:37:54 PM
I don't use a financial advisor at all. It's pretty simple to structure your portfolio as just a few total market index funds. There's nothing magical or confusing or complicated required.
These passive index funds beat active management every time.

No financial advisor here either.  Core money is in funds, etc....

However, I do have a brokerage account where I 'play around' with single stocks (biotechs and such).  I find it fun and have done quite well with it....but it is certainly NOT for everyone.     



Title: Re: Race from $1M to $2M
Post by: Bird In Hand on September 19, 2017, 09:51:38 AM
I'm a little late to this party.  We crossed $1M in invested assets last May, and now it's $1.16.

Four months later, we're up $50k (~4%) to $1.21M.  Not bad for a third of the year, especially considering we wrote a $25k check mid-summer, plus about $2,500 in other unanticipated/one-time home expenses.  Our investment returns haven't been stellar since May, but we just keep plugging away at the tax-deferred accounts.
Title: Re: Race from $1M to $2M
Post by: dude on September 19, 2017, 10:15:12 AM
Just checked. NW = $1.6M, invested = $1.03M

No target, per se.
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 19, 2017, 02:07:18 PM
Nice gain BirdInHand.

Welcome aboard Dude.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 20, 2017, 02:56:03 PM
Just checked. NW = $1.6M, invested = $1.03M

No target, per se.

Great job.. I remember reading MMM for the first time in Sept 2013 and thought.. "Gee I should add up my NW"...It came to 1.050M...:)

It was hard to drive the 80 miles to work the next day!
Title: Re: Race from $1M to $2M
Post by: ynotme on September 23, 2017, 05:13:15 PM
Hi - I just found this thread and thought I'd join in.

I needed some motivation when I hit $1m in 2014 but couldn't yet retire. I set myself a goal of getting to $2m in 5 years and calculated I needed ~15% increase in NW a year. I thought it was ambitious but have been pretty close to it so far.

2014: $1,008k
2015: Goal $1,150k; Actual $1,191k
2016: Goal: $1,325k; Actual $1,353k
2017: Goal: $1,525k; YTD $1,477k
2018: Goal: $1,750k
2019: Goal >$2,000,000

Note:
- The above is in Australian dollars and I hope you all don't mind me tracking that way. Currency fluctuations would distort it too much otherwise.
- The above doesn't include a home and property prices are expensive in Australia. Not sure where I want to live once I stop working so holding off buying for now. I figure with $2m, I can decide how I want to allocate funds and also move to a lower cost location.

Another 2 years seems tantalisingly close but also a long way away when I have a tough day at work.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on September 23, 2017, 08:33:46 PM
I have about 1.48 million in 85% equities, rest in bonds, some in cash. And I have another $250k-300K equity in my house
Honestly, it feels like a mirage. I get a sense that any day now a crash is about to occur.
Not sure why I feel that way, maybe it's how well the market has done, and how precarious the political situation is.

Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 23, 2017, 09:27:39 PM
Well a crash might happen tomorrow.. But if not tomorrow almost certainly in the next 3 years.. Really it doesn't make difference unless you're trying to time it.. You have got to be able to survive a crash either way
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 23, 2017, 11:22:54 PM
I'm kinda trying to outlast the crash.  I'm over 90% invested in stocks.  So far it's paid off,  So very tempted to play market timer,but when do you pull?  DOW 19k, 20k, 21k, 22k, 23k?  So I'm just sitting here riding the wave up.  Not FIRE yet so I guess until you are drawing down,  it's no big deal if it crashes.  It's going to take a big one for many people on this thread to be sub 7 figures again.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 24, 2017, 11:02:01 AM
Bateaux, You plan to retire in 2019?

If thats the case I would suggest a rebalance now to 70/30 or 80/20. You have plenty of money and can expect some sinificant growth over time with 70% stocks.. But still have bonds to live on for several years.

Just my perspective.
Title: Re: Race from $1M to $2M
Post by: Car Jack on September 24, 2017, 11:23:46 AM
I'd agree.  I expect to retire 2019/2020 and have been 50/50 for about a year.  I've pretty much won the game, so to speak but am paying for this and next year private college for one son and other has learning issues, so high school for now costs almost what private college costs.  Lawyer is working to get our district to pay for that but that's not guaranteed so could be a year before we even know.  I have no interest in losing 50% of what I have.  House has long time been paid off and no debts.
Title: Re: Race from $1M to $2M
Post by: waltworks on September 24, 2017, 11:29:52 AM
We're a little over $1 million, but I don't know if we'll hit 2. DW retired 2 years ago, I cut back to about half time. We have an AirBnB that pays a bit more than half our expenses, too. But I like my job and don't plan to fully quit. Once kids are old enough to be in school I think my wife will probably get bored (she's a PhD biophysicist, after all) and go be a STEM educator in the school system or something like that.

So it will be interesting to see if we get there, and if so when. I have a hard time wrapping my brain around "needing" more than $40k a year, but then again I'm one of those perpetual grad student types that gets excited about free pizza at the library.

-W
Title: Re: Race from $1M to $2M
Post by: Exflyboy on September 24, 2017, 11:46:28 AM
Same here.. The 2 of us spend around $30k with a paid off house.. Its difficult to imagine spending more than $40k even with a couple of trips abroad each year. Half of our expenses are paid by our rentals.

For us its healthcare, food, utilities and insurance and thats about it. I do all the maintenance on our cars. So far our HC premium is $36/m and we can add worse case $2k/yr for OOP expenses.


Title: Re: Race from $1M to $2M
Post by: iluvzbeach on September 24, 2017, 02:27:59 PM
We hit $1M late in 2016. As of yesterday we were $9.93 away from $1.1M. I never include our checking account balance in our NW as that money comes and goes, but think I'll transfer $10 to savings so we'll officially be at $1.1M NW. Currently maxing 401K and IRA (spouse) + $24K per year to taxable investments. Planning to FIRE in 2020.
Title: Re: Race from $1M to $2M
Post by: marty998 on September 24, 2017, 03:19:44 PM
Hi - I just found this thread and thought I'd join in.

I needed some motivation when I hit $1m in 2014 but couldn't yet retire. I set myself a goal of getting to $2m in 5 years and calculated I needed ~15% increase in NW a year. I thought it was ambitious but have been pretty close to it so far.

2014: $1,008k
2015: Goal $1,150k; Actual $1,191k
2016: Goal: $1,325k; Actual $1,353k
2017: Goal: $1,525k; YTD $1,477k
2018: Goal: $1,750k
2019: Goal >$2,000,000

Note:
- The above is in Australian dollars and I hope you all don't mind me tracking that way. Currency fluctuations would distort it too much otherwise.
- The above doesn't include a home and property prices are expensive in Australia. Not sure where I want to live once I stop working so holding off buying for now. I figure with $2m, I can decide how I want to allocate funds and also move to a lower cost location.

Another 2 years seems tantalisingly close but also a long way away when I have a tough day at work.

Shares or Realestate? (A$ are fine, all of mine are listed in AUD :) )

Interested in what your portfolio looks like, as I'm several years behind you.
Title: Re: Race from $1M to $2M
Post by: ynotme on September 25, 2017, 01:26:36 AM

2014: $1,008k
2015: Goal $1,150k; Actual $1,191k
2016: Goal: $1,325k; Actual $1,353k
2017: Goal: $1,525k; YTD $1,477k
2018: Goal: $1,750k
2019: Goal >$2,000,000

....

Shares or Realestate? (A$ are fine, all of mine are listed in AUD :) )

Interested in what your portfolio looks like, as I'm several years behind you.

I have a property worth ~$600k and most of the rest in shares (in and out of super). Most of my gains are through savings though, high income and low costs.
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 25, 2017, 08:30:04 PM
Bateaux, You plan to retire in 2019?

If thats the case I would suggest a rebalance now to 70/30 or 80/20. You have plenty of money and can expect some sinificant growth over time with 70% stocks.. But still have bonds to live on for several years.

Just my perspective.

I hate the thought of losing hundreds of thousands of dollars in a crash, but also hate the thought of losing hundreds of thousands of dollars from potential gains.  The 2019 retirement date is possible leaning towards 2020. Not much difference between those dates I'd suppose as far as long term plan of stock/bond ratios.  Bogle says stay the course, maybe I'll buy some bond funds and sell some stock funds.  Just don't feel that old yet.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on September 25, 2017, 09:15:48 PM
We hit $1M late in 2016. As of yesterday we were $9.93 away from $1.1M...think I'll transfer $10 to savings so we'll officially be at $1.1M NW.
lol! I like that move!
Title: Re: Race from $1M to $2M
Post by: marty998 on September 27, 2017, 05:54:50 AM
Boo...Got paid today (NW up), revalued investments (NW down).

Treaded water these 2 weeks. I cannot say I'm enjoying starting to see my net worth be "volatile" (said with naievity noted).

Seeing the NW go down after a pay day is a relatively new thing for me, one I will have to get used to.

Total is at $1,026,500
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 27, 2017, 06:30:27 AM
Boo...Got paid today (NW up), revalued investments (NW down).

Treaded water these 2 weeks. I cannot say I'm enjoying starting to see my net worth be "volatile" (said with naievity noted).

Seeing the NW go down after a pay day is a relatively new thing for me, one I will have to get used to.

Total is at $1,026,500
Same
It starts to happen often at this level.  You get used to 10k, 20k, 30k fluxes in NW sometimes weekly.  There are worse problems to have than losing the equivalent of a new automobile price of NW in a day.   You could be financing an automobile for 6 years like many.
Title: Re: Race from $1M to $2M
Post by: bigchrisb on September 27, 2017, 06:08:29 PM
Boo...Got paid today (NW up), revalued investments (NW down).

Treaded water these 2 weeks. I cannot say I'm enjoying starting to see my net worth be "volatile" (said with naievity noted).

Seeing the NW go down after a pay day is a relatively new thing for me, one I will have to get used to.

Total is at $1,026,500

I have a love-hate relationship with this.  The love is that my portfolio returns are becoming more important to my net worth than my earned income.  That's great, as it means that a wage is becoming redundant.  The hate is the lack of ability to measure progress, which I have gotten used to.  I don't get that little dopamine hit each time a paycheck goes through, because my net worth progress is less tied to my income.  My coping strategy for that has been to track investment income instead - if I put more money to work, I see that number tick up.  If I reinvest a dividend, I see it tick up.  If I retire some debt, I see the net income tick up.  Keeps me going with the right behaviors, (investing a surplus), as long as it doesn't bias my investment to short term income investments. 
Title: Re: Race from $1M to $2M
Post by: dogboyslim on September 29, 2017, 07:28:44 AM
Boo...Got paid today (NW up), revalued investments (NW down).

Treaded water these 2 weeks. I cannot say I'm enjoying starting to see my net worth be "volatile" (said with naievity noted).

Seeing the NW go down after a pay day is a relatively new thing for me, one I will have to get used to.

Total is at $1,026,500

I have a love-hate relationship with this.  The love is that my portfolio returns are becoming more important to my net worth than my earned income.  That's great, as it means that a wage is becoming redundant.  The hate is the lack of ability to measure progress, which I have gotten used to.  ...

I kind of stop measuring my NW.  Every now and then I check in, but what I measure now is my contribution to savings.  I mentioned somewhere else how one month I did a killer job of saving, but the market went down so my overall was a decline, and then shortly after I had a month with pretty much NO savings and my NW went up $65k.  I can't measure my progress against something that has so much variability, so I set targets to contribute and measure against that.  Then I just make sure my overall portfolio is appropriate and let it do what its going to do.  That way I don't get too excited about the ups/downs of the total investment pool, I focus on controllable actions.

Which reminds me, I hadn't checked my progress for a while...I'm at about $450k of real property (which I don't really count for this purpose) and $1.66M invested.  That's up quite a bit from 1/1 when we were at $1.4M.  Maybe I should check this number more frequently!  ;)
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on September 29, 2017, 07:39:49 AM
Which reminds me, I hadn't checked my progress for a while...I'm at about $450k of real property (which I don't really count for this purpose) and $1.66M invested.  That's up quite a bit from 1/1 when we were at $1.4M.  Maybe I should check this number more frequently!  ;)

Wow you've got a lot!
Title: Re: Race from $1M to $2M
Post by: farmecologist on September 29, 2017, 10:00:14 AM
Boo...Got paid today (NW up), revalued investments (NW down).

Treaded water these 2 weeks. I cannot say I'm enjoying starting to see my net worth be "volatile" (said with naievity noted).

Seeing the NW go down after a pay day is a relatively new thing for me, one I will have to get used to.

Total is at $1,026,500

I have a love-hate relationship with this.  The love is that my portfolio returns are becoming more important to my net worth than my earned income.  That's great, as it means that a wage is becoming redundant.  The hate is the lack of ability to measure progress, which I have gotten used to.  ...

I kind of stop measuring my NW.  Every now and then I check in, but what I measure now is my contribution to savings.  I mentioned somewhere else how one month I did a killer job of saving, but the market went down so my overall was a decline, and then shortly after I had a month with pretty much NO savings and my NW went up $65k.  I can't measure my progress against something that has so much variability, so I set targets to contribute and measure against that.  Then I just make sure my overall portfolio is appropriate and let it do what its going to do.  That way I don't get too excited about the ups/downs of the total investment pool, I focus on controllable actions.

Which reminds me, I hadn't checked my progress for a while...I'm at about $450k of real property (which I don't really count for this purpose) and $1.66M invested.  That's up quite a bit from 1/1 when we were at $1.4M.  Maybe I should check this number more frequently!  ;)


I check our net worth frequently because everything is linked to Personal Capital and can easily be accessed on the PC..or anytime via thumbprint on the smartphone! 

Once you reach a certain threshold it seems like your contributions help, but are diminished to a great extent by portfolio gains (or losses).  We have pretty much reached that point but are continuing to max out our 401K's for the tax benefits. 

I will admit that we moved significant funds over to the Vanguard Wellesley admiral (VWIAX) fund and therefore have become a bit more 'conservative'.  I guess we are becoming a somewhat conservative 'boglehead' as far as core holdings go.  To make up for that I have been actively trading stocks in a taxable account and find it quite fun..and have done quite with it so far. 

 
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on September 29, 2017, 04:34:17 PM
I'm happy to report that I've reached the $1.3 million mark in net worth.  The market surge and a recent dividends distribution got me to the mark today.  Of the $1.3mil, $1.2 of that is invested in the market.  September ends on a good note!!  Tonight I will celebrate by drinking a can of Pepsi.
Title: Re: Race from $1M to $2M
Post by: marty998 on September 30, 2017, 04:00:47 PM
Boo...Got paid today (NW up), revalued investments (NW down).

Treaded water these 2 weeks. I cannot say I'm enjoying starting to see my net worth be "volatile" (said with naievity noted).

Seeing the NW go down after a pay day is a relatively new thing for me, one I will have to get used to.

Total is at $1,026,500

I have a love-hate relationship with this.  The love is that my portfolio returns are becoming more important to my net worth than my earned income.  That's great, as it means that a wage is becoming redundant.  The hate is the lack of ability to measure progress, which I have gotten used to.  ...

I kind of stop measuring my NW.  Every now and then I check in, but what I measure now is my contribution to savings.  I mentioned somewhere else how one month I did a killer job of saving, but the market went down so my overall was a decline, and then shortly after I had a month with pretty much NO savings and my NW went up $65k.  I can't measure my progress against something that has so much variability, so I set targets to contribute and measure against that.  Then I just make sure my overall portfolio is appropriate and let it do what its going to do.  That way I don't get too excited about the ups/downs of the total investment pool, I focus on controllable actions.

Which reminds me, I hadn't checked my progress for a while...I'm at about $450k of real property (which I don't really count for this purpose) and $1.66M invested.  That's up quite a bit from 1/1 when we were at $1.4M.  Maybe I should check this number more frequently!  ;)


I check our net worth frequently because everything is linked to Personal Capital and can easily be accessed on the PC..or anytime via thumbprint on the smartphone! 

Once you reach a certain threshold it seems like your contributions help, but are diminished to a great extent by portfolio gains (or losses).  We have pretty much reached that point but are continuing to max out our 401K's for the tax benefits. 

I will admit that we moved significant funds over to the Vanguard Wellesley admiral (VWIAX) fund and therefore have become a bit more 'conservative'.  I guess we are becoming a somewhat conservative 'boglehead' as far as core holdings go.  To make up for that I have been actively trading stocks in a taxable account and find it quite fun..and have done quite with it so far. 


I've graduated from updating daily to now updating weekly :)

The actual bottom line number is pretty meaningless, (as BCB noted above, the annual income total is a more pointed indicator), but I'm a maths nerd and an accountant, so I do <3 a sexy balance sheet.

Revalued the properties on my quarterly schedule (Sep 30). NW now $1,048,400, revised goal of $1,075,000 by the end of the year, which will be a $177k gain for 2017 if it happens.

Title: Re: Race from $1M to $2M
Post by: itchyfeet on September 30, 2017, 10:23:25 PM
I provide a monthly financial report to DW on Net Worth Growth by source and monthly income by source and our savings rate. I endeavor to engage in some discussion about our financial performance to no avail. The conversation quickly to reverts to topics like "when will you fix that broken light bulb/ door handle/ etc". Oh well.
Title: Re: Race from $1M to $2M
Post by: marty998 on October 02, 2017, 03:09:31 AM
I provide a monthly financial report to DW on Net Worth Growth by source and monthly income by source and our savings rate. I endeavor to engage in some discussion about our financial performance to no avail. The conversation quickly to reverts to topics like "when will you fix that broken light bulb/ door handle/ etc". Oh well.

So? When are you going to fix that broken light bulb?
Title: Re: Race from $1M to $2M
Post by: Koogie on October 02, 2017, 08:16:56 AM
I provide a monthly financial report to DW on Net Worth Growth by source and monthly income by source and our savings rate. I endeavor to engage in some discussion about our financial performance to no avail. The conversation quickly to reverts to topics like "when will you fix that broken light bulb/ door handle/ etc". Oh well.

So? When are you going to fix that broken light bulb?

Has to fix the door handle first, to get into the room to fix the light bulb..

ha
Title: Re: Race from $1M to $2M
Post by: itchyfeet on October 02, 2017, 09:22:11 AM
There is always something I haven't done or have done wrong. Aah the joys of marriage.
Title: Re: Race from $1M to $2M
Post by: Jenny1974 on October 02, 2017, 02:49:52 PM
Holy crap!  Just ran our numbers for September.  NW has increased almost $245,000 for the year.  $2MM . . . here I come!!!!
Title: Re: Race from $1M to $2M
Post by: Bateaux on October 03, 2017, 06:15:22 AM
Holy crap!  Just ran our numbers for September.  NW has increased almost $245,000 for the year.  $2MM . . . here I come!!!!

Congratulations!   The run up has been amazing.   We're 200k or so short of the 2M investments goal now.  Hard to believe we're 90% of the way.  Carjack has the light on for us in the 2M to 3M thread.
Title: Re: Race from $1M to $2M
Post by: Car Jack on October 03, 2017, 06:48:40 AM
Picture you're racing a bicycle and I'm on the back of a pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
Title: Re: Race from $1M to $2M
Post by: Exflyboy on October 03, 2017, 09:06:15 AM
Awesome.. we too have a mini goal.. Last night we were $125k short of $2m in investments. Another 6.6%.. woohoo..:)

We have small pensions, plus the paid off house in addition to the above.
Title: Re: Race from $1M to $2M
Post by: Bateaux on October 03, 2017, 07:39:40 PM
Picture you're racing a bicycle and I'm on the back of a pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!

Haha!
Title: Re: Race from $1M to $2M
Post by: Dicey on October 03, 2017, 07:42:32 PM
There is always something I haven't done or have done wrong. Aah the joys of marriage.
Hah! When I was single, I used to say, "No one to ask, no one to blame."
Title: Re: Race from $1M to $2M
Post by: Dicey on October 03, 2017, 07:46:19 PM
Picture you're racing a bicycle and I'm on the back of an old, paid for, and required for specific work pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
FTFY.

Seriously, is there a $2M to $3M thread? Is Car Jack the (ring)leader?

ETA: Complete Senior Moment. I could delete these comments, but I think I'll let my "stoopids" stand. Apparently I've been part of the other group for quite some time. It's kinda funny how fast it grows. As in, one can forget what ridiculously privileged category one "belongs" in. I've said it before, and I'll keep saying it: This shit works, man!
Title: Re: Race from $1M to $2M
Post by: Goldy on October 03, 2017, 08:35:17 PM
Just passed the 1.4 mark (1.28 invested) and logged a 12 month gain of $308k.  If we can keep that annual gain going we might be done sooner than I thought.

Half way mark!  Ticked over 1.5 in September, it's really starting to pick up steam now.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on October 04, 2017, 10:53:04 AM
Picture you're racing a bicycle and I'm on the back of an old, paid for, and required for specific work pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
FTFY.

Seriously, is there a $2M to $3M thread? Is Car Jack the (ring)leader?

ETA: Complete Senior Moment. I could delete these comments, but I think I'll let my "stoopids" stand. Apparently I've been part of the other group for quite some time. It's kinda funny how fast it grows. As in, one can forget what ridiculously privileged category one "belongs" in. I've said it before, and I'll keep saying it: This shit works, man!

One great thing about getting older.. You really don't care what other people think.. Probably being wealthy (I don't know what "rich" actually means) helps too..:)
Title: Re: Race from $1M to $2M
Post by: Dicey on October 04, 2017, 11:10:47 AM
Haha, thanks, EFB. I guess it depends what you count. We might be in one if I count invested assets and cash only, or another one if I count DH's defined benefit pension plan, including future retirement healthcare, paid-for HCOLA house, equity in rental properties, blah x3. If I look too hard, I might discover we "should" be in yet another group. I know you know what I mean, EFB. <wink>
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on October 04, 2017, 12:49:47 PM
Picture you're racing a bicycle and I'm on the back of an old, paid for, and required for specific work pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
FTFY.

Seriously, is there a $2M to $3M thread? Is Car Jack the (ring)leader?

ETA: Complete Senior Moment. I could delete these comments, but I think I'll let my "stoopids" stand. Apparently I've been part of the other group for quite some time. It's kinda funny how fast it grows. As in, one can forget what ridiculously privileged category one "belongs" in. I've said it before, and I'll keep saying it: This shit works, man!
Equivalent senior moment trying to be helpful:
Yes there is such a thread https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/ and yes, Car Jack is the ringleader (OP, thread starter).
Title: Re: Race from $1M to $2M
Post by: Dicey on October 04, 2017, 10:33:16 PM
Yeah, I'm on that thread, too. Erm. Fortunately,  our stache is big enough that I'm no imposter there. I consider myself in good company, either place.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on October 04, 2017, 11:56:23 PM
Hehe.. of course I also have 3 three years to catch up..:)

Is any of this relevant?... nope!
Title: Re: Race from $1M to $2M
Post by: farmecologist on October 05, 2017, 07:53:16 AM
Picture you're racing a bicycle and I'm on the back of an old, paid for, and required for specific work pickup, laying down in the bed with my arm outstretched.  Come on.....you can do it!!!
FTFY.

Seriously, is there a $2M to $3M thread? Is Car Jack the (ring)leader?

ETA: Complete Senior Moment. I could delete these comments, but I think I'll let my "stoopids" stand. Apparently I've been part of the other group for quite some time. It's kinda funny how fast it grows. As in, one can forget what ridiculously privileged category one "belongs" in. I've said it before, and I'll keep saying it: This shit works, man!
Equivalent senior moment trying to be helpful:
Yes there is such a thread https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$2m-to-$3m/ and yes, Car Jack is the ringleader (OP, thread starter).


I'm also on the other thread.  However, in my opinion we have only 'partially graduated' there because we are currently counting our paid off house in the calculations.  However, we are getting close to 'full graduation' (investable assets only) possibly sometime late next year.

Title: Re: Race from $1M to $2M
Post by: Bird In Hand on October 05, 2017, 08:51:53 AM
I'm also on the other thread.  However, in my opinion we have only 'partially graduated' there because we are currently counting our paid off house in the calculations.  However, we are getting close to 'full graduation' (investable assets only) possibly sometime late next year.

I like this approach.  I also plan on partially graduating to the other thread by counting NW, and then fully graduating later when investable assets reach $2M.  There might be a year or two difference in the graduation dates -- any longer and it means the markets are pretty flat or falling.
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on October 05, 2017, 02:32:41 PM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

And at $1.2M at 1/31/2017

Presumably this particular rally will end sooner or later, it won't be as long as I thought if it keeps up like this (not that I expect it to)

$1.235M for 3/31/2017 at the end of the quarter.
Not bad for not working. I keep saying it can't last much longer!

$1.267M for 6/30/2017 at the end of the second quarter.
Still not working, and we bought a car and had a baby during that time, so apparently the rally kept going..

$1.31M for 10/1/2017 at the end of the third quarter
So this crazy run up hasn't slowed down. Still not working, not much else to report.
Title: Re: Race from $1M to $2M
Post by: bigchrisb on October 05, 2017, 03:33:41 PM
I'm also on the other thread.  However, in my opinion we have only 'partially graduated' there because we are currently counting our paid off house in the calculations.  However, we are getting close to 'full graduation' (investable assets only) possibly sometime late next year.

I like this approach.  I also plan on partially graduating to the other thread by counting NW, and then fully graduating later when investable assets reach $2M.  There might be a year or two difference in the graduation dates -- any longer and it means the markets are pretty flat or falling.

I'm in the same boat with you - $2.94m net worth, $500k debt, $1.05m house value.  I'd rather house prices not be so silly in my country (Australia)! At the end of the day, this isn't a competition, so its not about an "absolute" metric, but one that helps drive you towards your own goals.  I think the most important thing is to keep your own metric (inc/ex house equity) consistent, to keep yourself accountable.
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on October 05, 2017, 09:16:06 PM
The portfolio is growing so fast it feels like a runaway train about to careen off the track. Looking at Personal Capital scares me now. I keep thinking how long can this last? Also f-ck I don't want to work anymore haha. My motivation is inversely correlated with market performance.
Title: Re: Race from $1M to $2M
Post by: Timmm on October 07, 2017, 07:06:35 AM
Hey everyone, I've just read through this thread in the last couple of days. I find a lot of the comments very familiar to my own thoughts, including a little uncertainty in the smartest way to count home equity. I've been regularly tracking our assets and debts for five years, and have the details separated, and occasionally add a new row to my spreadsheet that adds another perspective - total net, net cash only, hypothetical budget for residence if all sold after setting aside enough for 4% swr...

The one I've watched most closely assumes selling rental houses at zillow estimates less 6% commission and paying off our current residence. It's had the smoothest, steadiest curve. Here's a history sample for it:

12/15: 590k
12/16: 1.05M
6/17:   1.25M
10/17: 1.4M

The assets are split roughly evenly in three groups: 401k/IRA, taxable investments, 2 sfh rentals. We probably have a bit more than that in equity in our residence - and it would be pretty decadent to pay it off and stay in it in retirement as the above projects. It's big and expensive, and we will likely sell all the houses and relocate just before retiring. We are considering a variety of retirement locations that are also pretty decadent, but with a smaller size might still cost $500k less than our current.

We still have two young adult children who are still dependent (one just starting college), and we are pretty scared of the potential medical insurance costs, so I expect retirement is a couple of years away. But our savings growth has also been exceeding gross income for a while, so I find it harder and harder to hustle at work.
Title: Re: Race from $1M to $2M
Post by: talltexan on October 10, 2017, 01:18:03 PM
I just checked mint last time and had the first moment of my life in which I was arguably a millionaire. I'd been lurking here some already because they say you should surround yourself with people you aspire to be like ;-)

Anyway, this wealth came to me despite some bad habits and was mainly because of my super-awesome wife who kicks ass at work. I've decided to try to focus on clearing some debts with any investment gains I have above today. Most of you guys will probably beat me to $2 million, but thanks for including me!
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on October 10, 2017, 08:19:03 PM
Congrats tall Texan welcome to the club!!
Title: Re: Race from $1M to $2M
Post by: Bateaux on October 10, 2017, 08:49:42 PM
Welcome aboard Talltexan.  Best of luck.
Title: Re: Race from $1M to $2M
Post by: ysette9 on October 10, 2017, 09:07:41 PM
I havenít posted this thread for a while as I was busy being pregnant and hospitalized and giving birth and buying a house and remodeling a house. Phew! I popped my head up the other day and realized that our invested assets are somewhere around $1.57 even though we took out $200k out of investments to buy a house. It was sad seeing that duo, but we are pleased with what we were able to get. Now there is the scary mortgage debt, but so it goes. On the plus side, I am getting skylights and insulated interior walls. Winning!

Amazing to see the number that high. I hope we can continue to sock it away at a good clip. I feel like we will have to see a good dip in the market before we reach $2M since the market is cyclical. I need to go through a good downturn and have a white-knuckle ride when I have substantial assets, right? Isnít that how you earn your stripes in the index investing world? :)
Title: Re: Race from $1M to $2M
Post by: Exflyboy on October 10, 2017, 10:55:58 PM
Yes thats exactly how it goes.. But if you're in the accumulation phase you actually WANT a big market downturn!

If you're FIRED like me.. well, hopefully you have been through enough downturns to be able to survive the next one..:)
Title: Re: Race from $1M to $2M
Post by: mjr on October 18, 2017, 01:57:38 PM
My net worth ex-PPOR has been wallowing in the low $1.9m for months with the sharemarket wallowing.  But my salary keeps flowing in and now with the market's recent uptick and October's dividends I suddenly find myself at $1.99m.

A good day in the market or next month's salary will see me there! 

$2m has been "the target" since I crossed $1m in early 2013.  Looks like 2018 will be the retirement year.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on October 18, 2017, 02:03:29 PM
My net worth ex-PPOR has been wallowing in the low $1.9m for months with the sharemarket wallowing.  But my salary keeps flowing in and now with the market's recent uptick and October's dividends I suddenly find myself at $1.99m.

A good day in the market or next month's salary will see me there! 

$2m has been "the target" since I crossed $1m in early 2013.  Looks like 2018 will be the retirement year.

Woohoo..:)
Title: Re: Race from $1M to $2M
Post by: marty998 on October 18, 2017, 02:12:21 PM
You guys are all killing it ☺️

Mine has gone up about 5 grand on account of our market having a 9 day winning streak.

I too can't help but feel we are due for a fall. Starting to see a few ridiculous run ups in small caps and sectors of the market.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on October 21, 2017, 04:30:39 PM
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on October 21, 2017, 07:09:05 PM
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

You might have to post in the Race from $2M to $3M group
Title: Re: Race from $1M to $2M
Post by: Bateaux on October 21, 2017, 07:53:37 PM
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

You might have to post in the Race from $2M to $3M group
He's slumming here with us common folk.
Title: Re: Race from $1M to $2M
Post by: JoJoP on October 21, 2017, 09:47:43 PM
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

Fantastic!  Just let time do its job.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on October 22, 2017, 07:27:05 AM
On Friday our investments hit $1,901,000.. I'm almost out of this pool..:)

Plus $525k in pension valuations + paid off house

You might have to post in the Race from $2M to $3M group
He's slumming here with us common folk.

Hah.. I don't think I could ever regard millionaires as "common folk".. Having $1M in investments is a hell of an achievement (assuming you're not a trust fund baby)...:)
Title: Re: Race from $1M to $2M
Post by: mjr on October 22, 2017, 05:05:30 PM
My net worth ex-PPOR has been wallowing in the low $1.9m for months with the sharemarket wallowing.  But my salary keeps flowing in and now with the market's recent uptick and October's dividends I suddenly find myself at $1.99m.

A good day in the market or next month's salary will see me there! 

$2m has been "the target" since I crossed $1m in early 2013.  Looks like 2018 will be the retirement year.

Yaaaaaassssss !!!!
Title: Re: Race from $1M to $2M
Post by: Dicey on October 22, 2017, 05:31:38 PM
My net worth ex-PPOR has been wallowing in the low $1.9m for months with the sharemarket wallowing.  But my salary keeps flowing in and now with the market's recent uptick and October's dividends I suddenly find myself at $1.99m.

A good day in the market or next month's salary will see me there! 

$2m has been "the target" since I crossed $1m in early 2013.  Looks like 2018 will be the retirement year.

Yaaaaaassssss !!!!
Congrats! Is that in AUS?
Title: Re: Race from $1M to $2M
Post by: mjr on October 22, 2017, 05:32:08 PM
Yes, Australian pesos.  But still.  Thanks!
Title: Re: Race from $1M to $2M
Post by: Llewellyn2006 on October 23, 2017, 06:13:13 AM
We hit 7 figures about 4 weeks ago and it's increased each week since. They say the first million is the hardest - they might just be right.
Title: Re: Race from $1M to $2M
Post by: talltexan on October 23, 2017, 11:58:06 AM
Those of you who are worried about growth in $$$ to the point that you leave the pool, you still have nine weeks left for charitable contributions for this year to get back under the line.
Title: Re: Race from $1M to $2M
Post by: FireLane on October 23, 2017, 06:48:30 PM
Dang it! Just as I got here, everyone else is leaving.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on October 23, 2017, 09:00:01 PM
Dang it! Just as I got here, everyone else is leaving.
Don't worry!  I'll be here for awhile!
Title: Re: Race from $1M to $2M
Post by: marty998 on October 24, 2017, 03:35:52 AM
Dang it! Just as I got here, everyone else is leaving.
Don't worry!  I'll be here for awhile!

Ahh me too... I'll be here for a while yet.

Well done mjr. Are you on tenterhooks with the ASX creeping up by 1-2 points a day?!?!?

Quite bizarre this level of non-movement in the market the past few days...
Title: Re: Race from $1M to $2M
Post by: arebelspy on October 24, 2017, 12:18:43 PM
Dang it! Just as I got here, everyone else is leaving.
Don't worry!  I'll be here for awhile!

Ahh me too... I'll be here for a while yet.

Well done mjr. Are you on tenterhooks with the ASX creeping up by 1-2 points a day?!?!?

Quite bizarre this level of non-movement in the market the past few days...

Why are you watching it daily? Especially with it affecting you ("on tenterhooks")?

Is it going to affect your investing in some way?
Title: Re: Race from $1M to $2M
Post by: marty998 on October 26, 2017, 01:27:37 AM
Dang it! Just as I got here, everyone else is leaving.
Don't worry!  I'll be here for awhile!

Ahh me too... I'll be here for a while yet.

Well done mjr. Are you on tenterhooks with the ASX creeping up by 1-2 points a day?!?!?

Quite bizarre this level of non-movement in the market the past few days...

Why are you watching it daily? Especially with it affecting you ("on tenterhooks")?

Is it going to affect your investing in some way?

I work for a funds management company. Can't escape it even if I tried ;)
Title: Re: Race from $1M to $2M
Post by: RetirementDreaming on November 02, 2017, 10:21:26 AM

Getting closer....

11/16 1.0M
5/17 1.2M
8/17 1.28M
10/17 1.34M
Title: Re: Race from $1M to $2M
Post by: CCCA on November 03, 2017, 02:48:49 PM
We just blew through the $2M mark(!!) partly because of AAPL, which is at an ATH. 
It is up 57% over the past year (vs 24% for the S&P500). 


It took us about 4 years from when we hit 1M (near the beginning of 2014) to hit $2M.  We saved about $200k in that time, so most of the increase was due to increases in the stock market ($800k). 


Now I'm in the enviable position of trying to unload some AAPL shares in the most tax-efficient manner possible and the plan is to keep most of my assets in index funds.
Title: Re: Race from $1M to $2M
Post by: RetirementDreaming on November 03, 2017, 02:53:35 PM
Congrats CCCA!  That is quite an accomplishment.  You graduated.  On to the next race.....
Title: Re: Race from $1M to $2M
Post by: Exflyboy on November 03, 2017, 03:50:56 PM
Nice..

I bought $100k's worth of AAPL at $88 back in 2008 ... I sold it when I made 20%.. Since then it has split 7 to 1 and is now at about $185.. Oh my if only I'd kept it..:)
Title: Re: Race from $1M to $2M
Post by: CCCA on November 03, 2017, 11:24:19 PM
Congrats CCCA!  That is quite an accomplishment.  You graduated.  On to the next race.....
thanks!  Excited to start RE in a few months!


Nice..

I bought $100k's worth of AAPL at $88 back in 2008 ... I sold it when I made 20%.. Since then it has split 7 to 1 and is now at about $185.. Oh my if only I'd kept it..:)
Yeah I sold some earlier too but bought some dips and it's done very well for me over the past decade.
Title: Re: Race from $1M to $2M
Post by: marty998 on November 07, 2017, 05:35:28 AM

Revalued the properties on my quarterly schedule (Sep 30). NW now $1,048,400, revised goal of $1,075,000 by the end of the year, which will be a $177k gain for 2017 if it happens.

An apartment identical to my investment property sold for $630,000 a couple of weeks ago. I've decided to revalue mine up to $600k (from $580k). Not much at all in the suburb has sold for under $600k for over 12 months now, so that seems like a solid floor.

NW $1,083k, shooting now for a strong finish to get up to $1.1 by year's end. Then have to start looking at what is possible for 2018!
Title: Re: Race from $1M to $2M
Post by: Zoot on November 16, 2017, 12:16:11 PM
Just passed $1M in household net worth (including home equity), so I figured it was time to join this thread!

I'm also participating in the $500K to $1M thread, as I won't feel like a capital-m Millionaire until my account balances hit $1M not counting home equity.  :)  That story is here:
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-500k-to-1m!/msg1774470/#msg1774470

Household net worth today is at $1.028M ($785K in investments/cash, $243K in home equity).  It took 19 years to get here--let's see how long it takes to do it again.  They say your first million is the hardest, right?  ;-)
Title: Re: Race from $1M to $2M
Post by: Bateaux on November 16, 2017, 07:09:39 PM
Good job Zoot.  You're nearly there.  No doubt the first million is the toughest, in fact you're way past the tough part.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 16, 2017, 11:17:25 PM
Just passed $1M in household net worth (including home equity), so I figured it was time to join this thread!
Welcome aboard, Zoot!
Title: Re: Race from $1M to $2M
Post by: marty998 on November 17, 2017, 03:15:34 PM
Just passed $1M in household net worth (including home equity), so I figured it was time to join this thread!

I'm also participating in the $500K to $1M thread, as I won't feel like a capital-m Millionaire until my account balances hit $1M not counting home equity.  :)  That story is here:
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-500k-to-1m!/msg1774470/#msg1774470

Household net worth today is at $1.028M ($785K in investments/cash, $243K in home equity).  It took 19 years to get here--let's see how long it takes to do it again.  They say your first million is the hardest, right?  ;-)

First million is the hardest, but I wouldn't know better as I haven't got to 2 yet :)
Title: Re: Race from $1M to $2M
Post by: farmecologist on November 19, 2017, 10:10:26 AM
Just passed $1M in household net worth (including home equity), so I figured it was time to join this thread!

I'm also participating in the $500K to $1M thread, as I won't feel like a capital-m Millionaire until my account balances hit $1M not counting home equity.  :)  That story is here:
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-500k-to-1m!/msg1774470/#msg1774470

Household net worth today is at $1.028M ($785K in investments/cash, $243K in home equity).  It took 19 years to get here--let's see how long it takes to do it again.  They say your first million is the hardest, right?  ;-)


First million is the hardest, but I wouldn't know better as I haven't got to 2 yet :)

I'll vouch for the 2nd M being far easier.  However, part of that might be an artifact of luck...that is, coinciding the accumulation phase to this incredible bull market.


Title: Re: Race from $1M to $2M
Post by: Exflyboy on November 19, 2017, 11:58:27 AM
I agree.. I suspect the bull is on its last legs so accumulation for all of us will likely slow from here.. Nobody really knows though.
Title: Re: Race from $1M to $2M
Post by: Car Jack on November 21, 2017, 07:36:44 AM
First million was the easiest for me.  Why?  I never added up my investments until I was at about $1.5M.  It was a surprise to me since the wife and I had small accounts scattered all over the galaxy.  None were very big but there were a lot of them.  It's also why I did well during the 08 downturn.  I didn't even know my Fidelity password.  I had moved an old, big 401k to an IRA and half of the money was sitting in a money market account for years.  Since those years were 07, 08, 09, it worked out fine.
Title: Re: Race from $1M to $2M
Post by: Bateaux on November 21, 2017, 08:50:22 AM
First million was the easiest for me.  Why?  I never added up my investments until I was at about $1.5M.  It was a surprise to me since the wife and I had small accounts scattered all over the galaxy.  None were very big but there were a lot of them.  It's also why I did well during the 08 downturn.  I didn't even know my Fidelity password.  I had moved an old, big 401k to an IRA and half of the money was sitting in a money market account for years.  Since those years were 07, 08, 09, it worked out fine.

Car Jack!  Get outta here!   Carry your arse back to your own thread.  This place is for us commoners in the 1-2 race.

;)
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on November 21, 2017, 09:11:10 AM
What's your net worth now Car Jack ?
Title: Re: Race from $1M to $2M
Post by: talltexan on November 21, 2017, 01:15:52 PM
You know those things people use when they need to change a tire on their cars?

Yeah, Car Jack invented those. he's worth $Bazillions.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 21, 2017, 10:07:40 PM
Household net worth today is at $1.028M ($785K in investments/cash, $243K in home equity).  It took 19 years to get here--let's see how long it takes to do it again.  They say your first million is the hardest, right?  ;-)
It took me 17 years to get to $1mil crossing that threshold on June 1st 2016.  But since then things have skyrocketed:

- getting to $1.1mil took me six months;
- from $1.1mil to $1.2mil took five months;
- from $1.2mil to $1.3mil took five months.

It's been 1.5 months since I reached $1.3mil and I'm now less than $50K away from $1.4mil.
Title: Re: Race from $1M to $2M
Post by: Jantoven on November 21, 2017, 10:57:19 PM
Household net worth today is at $1.028M ($785K in investments/cash, $243K in home equity).  It took 19 years to get here--let's see how long it takes to do it again.  They say your first million is the hardest, right?  ;-)
It took me 17 years to get to $1mil crossing that threshold on June 1st 2016.  But since then things have skyrocketed:

- getting to $1.1mil took me six months;
- from $1.1mil to $1.2mil took five months;
- from $1.2mil to $1.3mil took five months.

It's been 1.5 months since I reached $1.3mil and I'm now less than $50K away from $1.4mil.

Wow!  Talk about rapid progression.  Nice work!
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 22, 2017, 03:11:08 PM
It took me 17 years to get to $1mil crossing that threshold on June 1st 2016.  But since then things have skyrocketed:

- getting to $1.1mil took me six months;
- from $1.1mil to $1.2mil took five months;
- from $1.2mil to $1.3mil took five months.

It's been 1.5 months since I reached $1.3mil and I'm now less than $50K away from $1.4mil.

Wow!  Talk about rapid progression.  Nice work!
Thanks!!  That is very rapid progression owing to the swelling market of the past year.  It wasn't me doing any of the work.  It was all my shares pulling the load!!  The shares that I purchased when I was ages 22 to 30 are doing most of the work!!
Title: Re: Race from $1M to $2M
Post by: Dicey on November 22, 2017, 08:11:35 PM
It took me 17 years to get to $1mil crossing that threshold on June 1st 2016.  But since then things have skyrocketed:

- getting to $1.1mil took me six months;
- from $1.1mil to $1.2mil took five months;
- from $1.2mil to $1.3mil took five months.

It's been 1.5 months since I reached $1.3mil and I'm now less than $50K away from $1.4mil.

Wow!  Talk about rapid progression.  Nice work!
Thanks!!  That is very rapid progression owing to the swelling market of the past year.  It wasn't me doing any of the work.  It was all my shares pulling the load!!  The shares that I purchased when I was ages 22 to 30 are doing most of the work!!
This is a perfect example of why certain people encourage others to stuff their retirement vehicles full to burstin' before they start prepaying their cheap-ass, fixed rate mortgages. It's amazing what your money will do when you steep it in time. Watching your investments earn more than you do is unbelievable. Better still, start early enough and it happens over and over and over again, like magic, only real.

Hooray for your past, present and future selves, Cornbread O'Malley!
Title: Re: Race from $1M to $2M
Post by: Jantoven on November 22, 2017, 10:10:17 PM

This is a perfect example of why certain people encourage others to stuff their retirement vehicles full to burstin' before they start prepaying their cheap-ass, fixed rate mortgages. It's amazing what your money will do when you steep it in time. Watching your investments earn more than you do is unbelievable. Better still, start early enough and it happens over and over and over again, like magic, only real.

Hooray for your past, present and future selves, Cornbread O'Malley!

Definitely!  The magic of compound interest is something to behold.  The wife and I have been slowly saving, and while we are not close to FIRE currently, we just crossed that magical $1M mark, thanks to the beauty of compound interest.  Nice seeing our investments do the heavy lifting for us :)
Title: Re: Race from $1M to $2M
Post by: BTDretire on November 23, 2017, 07:07:44 AM
Just passed $1M in household net worth (including home equity), so I figured it was time to join this thread!

I'm also participating in the $500K to $1M thread, as I won't feel like a capital-m Millionaire until my account balances hit $1M not counting home equity.  :)  That story is here:
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-500k-to-1m!/msg1774470/#msg1774470

Household net worth today is at $1.028M ($785K in investments/cash, $243K in home equity).  It took 19 years to get here--let's see how long it takes to do it again.  They say your first million is the hardest, right?  ;-)


First million is the hardest, but I wouldn't know better as I haven't got to 2 yet :)

I'll vouch for the 2nd M being far easier.  However, part of that might be an artifact of luck...that is, coinciding the accumulation phase to this incredible bull market.

 It took us 30 years on a lower middle class income to hit the 1st Million,
ONLY 6 years to get the 2nd million.
  Yes, the bull market helped, and we also started earning more money.
Title: Re: Race from $1M to $2M
Post by: BTDretire on November 23, 2017, 07:32:48 AM
I agree.. I suspect the bull is on its last legs so accumulation for all of us will likely slow from here.. Nobody really knows though.

 I don't want to start another 'The top is in thread' :-), but I'm starting to hear more and more
good things about the economy. I'm hoping that because of the stagnate growth during the
Obama economy (although the stock market did great) that we will have a greatly extended
bull market.
The scariest thing is so many talking heads are positive on stock market growth, but I haven't seen 'irrational exuberance' yet! :-)

 Some good economic news:
"On the day before Thanksgiving, a range of economic statistics from government and private sources show that the economy continues to have positive momentum heading into the year-end holiday spending season. Data on consumer sentiment, the labor market, and orders at the nations factories posted generally favorable results suggesting continued economic growth with a low risk of recession in coming months."

"The October jobs report released Friday shows a healthy job market, with the economy adding 261,000 jobs ó good news after September's hurricanes. The unemployment rate is at 4.1 percent, its lowest in 17 years."

"Consumer sentiment hits 98.5 in November vs. 98 estimate

    U.S. consumer sentiment gained more than expected from the mid-month reading.
    Reuters economists expected the measure to hit 98.
    The index reached more-than-a-decade highs in October survey results."


https://www.aier.org/blog/more-good-news-economy
http://www.wbur.org/hereandnow/2017/11/03/2017-october-jobs-report
https://www.cnbc.com/2017/11/22/november-us-consumer-sentiment-index.html
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on November 23, 2017, 07:52:48 AM
Good points BTD
Title: Re: Race from $1M to $2M
Post by: Bateaux on November 27, 2017, 12:57:36 PM
So.  Who feels special?  What's different about us here, this 5% or less of the population?

Oh Hell, I must have slipped past the guards.

I wish I was special.
But I'm a creep, I'm a weirdo.
What hell am I doing here.
I don't belong here.

Title: Re: Race from $1M to $2M
Post by: Exflyboy on November 27, 2017, 03:12:50 PM
So.  Who feels special?  What's different about us here, this 5% or less of the population?

Oh Hell, I must have slipped past the guards.

I wish I was special.
But I'm a creep, I'm a weirdo.
What hell am I doing here.
I don't belong here.

Hmm.. yeah imposter syndrome. I certainly feel it. I was out with friends last night and it always comes up... "what do you do".. retired.. WTF?.. You must be rich.. Well of course we're rich duh!

Actually this morning I was crunching some "what if" numbers.. The what if being.. What if our portfolio cratered by 50%?

Well.. it turns out with rental income and a small pension (I could start drawing upon now if I wanted) and using a 3%SWR (on the reduced portfolio) we would have just over two times what our spend was 2 years ago.

Like.. damn we really have ZERO financial worries! (unless we got sued)... But all my friends are at work!
Title: Re: Race from $1M to $2M
Post by: Koogie on November 27, 2017, 04:50:56 PM
I wish I was special.
But I'm a creep, I'm a weirdo.
What hell am I doing here.
I don't belong here.

Poor analogy.   Thom Yorke is still w*rking..  ha



Title: Re: Race from $1M to $2M
Post by: Bateaux on November 27, 2017, 06:54:41 PM
I wish I was special.
But I'm a creep, I'm a weirdo.
What hell am I doing here.
I don't belong here.

Poor analogy.   Thom Yorke is still w*rking..  ha

Looks like he's worth about 45 million.  Must enjoy the work.
Title: Re: Race from $1M to $2M
Post by: Bateaux on November 27, 2017, 07:00:20 PM
So.  Who feels special?  What's different about us here, this 5% or less of the population?

Oh Hell, I must have slipped past the guards.

I wish I was special.
But I'm a creep, I'm a weirdo.
What hell am I doing here.
I don't belong here.

Hmm.. yeah imposter syndrome. I certainly feel it. I was out with friends last night and it always comes up... "what do you do".. retired.. WTF?.. You must be rich.. Well of course we're rich duh!

Actually this morning I was crunching some "what if" numbers.. The what if being.. What if our portfolio cratered by 50%?

Well.. it turns out with rental income and a small pension (I could start drawing upon now if I wanted) and using a 3%SWR (on the reduced portfolio) we would have just over two times what our spend was 2 years ago.

Like.. damn we really have ZERO financial worries! (unless we got sued)... But all my friends are at work!
Still working a while longer ourselves.   50 % drop in stocks and we'd still have NW over 1 million.  In that kind of market many working people would have lost their jobs.  Think we'd still have the advantage.
Title: Re: Race from $1M to $2M
Post by: iluvzbeach on November 27, 2017, 10:14:04 PM
So.  Who feels special?  What's different about us here, this 5% or less of the population?

Oh Hell, I must have slipped past the guards.

I wish I was special.
But I'm a creep, I'm a weirdo.
What hell am I doing here.
I don't belong here.

Darn you! Now that song is going to be in my head all night long. I can live with it. One of the best songs ever!
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on November 28, 2017, 09:19:39 PM
Like.. damn we really have ZERO financial worries! (unless we got sued)... But all my friends are at work!

I hear umbrella insurance is pretty cheap, get that, and you can have closer to zero financial worries if you want

(I hear, because I've been too lazy to ever look into it in depth)
Title: Re: Race from $1M to $2M
Post by: Exflyboy on November 28, 2017, 09:42:23 PM
Like.. damn we really have ZERO financial worries! (unless we got sued)... But all my friends are at work!

I hear umbrella insurance is pretty cheap, get that, and you can have closer to zero financial worries if you want

(I hear, because I've been too lazy to ever look into it in depth)

Yes that is on the list.. I "hear" its about $400 or so per year for $2m in coverage.. so yeah its cheap and you get free lawyers to defend you too.
Title: Re: Race from $1M to $2M
Post by: arebelspy on November 29, 2017, 05:35:05 AM
Neither of you have umbrella insurance?

And you have a rental property, Frank!

Aggghhh.

Go. Run. Today. Get some umbrella insurance. :)

Way reduce the risk and worry from that "unless we get sued" idea you mentioned.
Title: Re: Race from $1M to $2M
Post by: Car Jack on November 29, 2017, 07:16:08 AM
What's your net worth now Car Jack ?

I don't usually calculate net worth, but I guess I could.....

Investments: $2.2M
Bank accounts: $86k (with $27k tuition (semester) + $19k tuition (trimester) coming in December)
House is worth....I don't know.  $600k, maybe.  4 cars, total $50k.  So today's NW: $2.936M
Title: Re: Race from $1M to $2M
Post by: Dicey on November 29, 2017, 07:20:44 AM
Like.. damn we really have ZERO financial worries! (unless we got sued)... But all my friends are at work!

I hear umbrella insurance is pretty cheap, get that, and you can have closer to zero financial worries if you want

(I hear, because I've been too lazy to ever look into it in depth)

Yes that is on the list.. I "hear" its about $400 or so per year for $2m in coverage.. so yeah its cheap and you get free lawyers to defend you too.
They're not "free" if you don't have an umbrella policy. The most cost-effective legal representation might slip through your fingers if you don't get this insurance in place. Do so, and then hope you never need it. In my state, it's generally bundled with auto insurance, so start there.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on November 29, 2017, 08:39:04 AM
Yup you guys are right.. I will contact our insurance company today.
Title: Re: Race from $1M to $2M
Post by: Bateaux on November 29, 2017, 02:54:12 PM
Shit.   I don't have umbrella insurance.   
Title: Re: Race from $1M to $2M
Post by: Exflyboy on November 29, 2017, 03:10:41 PM
Yes and my insurance co won't provide Umbrella coverage as we own/rent a manufactured home.. Currently talking to a local broker to see what he can come up with.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on November 29, 2017, 05:44:51 PM
What's your net worth now Car Jack ?

I don't usually calculate net worth, but I guess I could.....

Investments: $2.2M
Bank accounts: $86k (with $27k tuition (semester) + $19k tuition (trimester) coming in December)
House is worth....I don't know.  $600k, maybe.  4 cars, total $50k.  So today's NW: $2.936M

Wow !!
Title: Re: Race from $1M to $2M
Post by: Acorns on November 29, 2017, 10:09:33 PM
Like.. damn we really have ZERO financial worries! (unless we got sued)... But all my friends are at work!

I hear umbrella insurance is pretty cheap, get that, and you can have closer to zero financial worries if you want

(I hear, because I've been too lazy to ever look into it in depth)

Yes that is on the list.. I "hear" its about $400 or so per year for $2m in coverage.. so yeah its cheap and you get free lawyers to defend you too.
They're not "free" if you don't have an umbrella policy. The most cost-effective legal representation might slip through your fingers if you don't get this insurance in place. Do so, and then hope you never need it. In my state, it's generally bundled with auto insurance, so start there.

Wait, somebody help me out here. I own a couple rental properties, rolling them into my NW puts it around 1.2 million (not including equity in primary residence). Do I need umbrella insurance? What does it protect against (what sort of lawsuit)? We have on our list of "things to do" to put the rentals into an LLC, our lawyer said that can help limit the reach of a lawsuit. We haven't done it yet, though.  Should we do umbrella insurance, LLC, or both? Thank you! (I realize this is taking the thread way off topic, I usually lurk here and don't plan on joining until we have investable assets excluding property value over 1 million).
Title: Re: Race from $1M to $2M
Post by: arebelspy on November 30, 2017, 06:12:26 AM
Yes, get umbrella insurance.

IMO, skip the LLC. A lawyer might tell you otherwise.

Get the umbrella insurance either way though.
Title: Re: Race from $1M to $2M
Post by: Acorns on November 30, 2017, 11:03:44 AM
Thank you! I'm going to look into this today!
Title: Re: Race from $1M to $2M
Post by: Bateaux on November 30, 2017, 04:28:46 PM
Hey Acorns, stick around.  How you tabulate your NW isn't up to us.  We appreciate more thread members.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 30, 2017, 04:47:49 PM
This is a perfect example of why certain people encourage others to stuff their retirement vehicles full to burstin' before they start prepaying their cheap-ass, fixed rate mortgages. It's amazing what your money will do when you steep it in time. Watching your investments earn more than you do is unbelievable. Better still, start early enough and it happens over and over and over again, like magic, only real.

Hooray for your past, present and future selves, Cornbread O'Malley!
Indeed and thanks.  Starting young sure does patch up the mistakes.  I made some dumb mistakes along the way like: 1) buying three whole-life insurance policies, 2) investing in front-loaded, active-trading mutual funds with super high expense ratios, 3) $50K property investment that I did not truly understand (net return of investment of $0).  The life insurance policies are gone as are the rip-off mutual funds.  The $50K mistake hurts but broadened my experience in regards to good investments versus bad ones.

The net worth is climbing rapidly, but I still inject in quite a bit of money each month into the current investments.  Plus the quarterly dividends and yearly capital gains adds to the pile too.
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on November 30, 2017, 06:21:57 PM
Neither of you have umbrella insurance?

We should probably get it too. No property of anykind, but we drive every now and then, and have dogs. Getting sued wouldn't be impossible.

It's been on my list of things to look into / do for a while. (I'm lazy, it took like two months in Canada before I finally got and installed the SIM card I meant to in the first week).
Title: Re: Race from $1M to $2M
Post by: Dicey on November 30, 2017, 06:34:36 PM
I just posted this link on Frank's journal. I knew I'd seen more chat on this topic, but wasn't sure where. Now I see where. Here you go:

https://forum.mrmoneymustache.com/ask-a-mustachian/buy-umbrella-insurance/msg0/#new
Title: Re: Race from $1M to $2M
Post by: Exflyboy on November 30, 2017, 08:27:29 PM
State Farm was really competitive at $274 for $2m coverage, Their car insurance sadly was much more expensive than what we currently have (they either want your car and/or your house insurance business in order to write an umbrella policy).

Tomorrow I will ask them to quote on the house.

My problem is; in order to get the umbrella to cover my rentals, I have to get liability coverage on the trailer rental.. The insurance company dropped it last year.

If I can't get liability then I'm sorta screwed.. well only if I get sued of course. In that case when the current renter's lease expires at the end of April we will then be out of the business.

I am liking the "not being a landlord" option to be honest..:)
Title: Re: Race from $1M to $2M
Post by: Davids on December 01, 2017, 11:36:10 AM
I can join this race now. As of yesterday 11/30 my networth is now $1.01M. Although a market drop could put me back under $1M pretty quickly. But at least I now know the feeling of hitting this milestone.
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on December 01, 2017, 12:34:50 PM
Davids:   If the https://forum.mrmoneymustache.com/investor-alley/top-is-in/ thread is correct, you might get to hit the threshold  of $1M many times :-)
Title: Re: Race from $1M to $2M
Post by: forward on December 01, 2017, 12:45:21 PM
Davids:   If the https://forum.mrmoneymustache.com/investor-alley/top-is-in/ thread is correct, you might get to hit the threshold  of $1M many times :-)

You are in the race, great job!  I have joined the race as well, so we will see each other at the finish line.  I suspect however you may find me by the side of the road peacefully reading a book because I have exited this race early.  I hope that is the case for me anyhow.
Title: Re: Race from $1M to $2M
Post by: Zoot on December 01, 2017, 03:05:08 PM
End of month = another spreadsheet cell filled in!  :)

It's astounding to me to see the monthly increase.  We are disciplined savers--we max out two 401(k) accounts and two Roth IRA's every year, plus a little additional savings--but the market run-up has really beefed up the totals.

We'll be paying for some home renovations in the next month or two, which will give us a bit of a "hit" to our numbers, but I may update our home value a bit in my spreadsheet after the renovations are done (maybe about 1/4 of the cost of the actual renovations).

(Posting also in the $500K to $1M thread for liquid assets.)

MonthLiquidNet Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17
Title: Re: Race from $1M to $2M
Post by: arebelspy on December 02, 2017, 04:20:47 AM
Damn, your YTD increase is impressive!
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on December 02, 2017, 05:17:12 AM
End of month = another spreadsheet cell filled in!  :)

It's astounding to me to see the monthly increase.  We are disciplined savers--we max out two 401(k) accounts and two Roth IRA's every year, plus a little additional savings--but the market run-up has really beefed up the totals.

We'll be paying for some home renovations in the next month or two, which will give us a bit of a "hit" to our numbers, but I may update our home value a bit in my spreadsheet after the renovations are done (maybe about 1/4 of the cost of the actual renovations).





Don't be so sure.  I posted the same thing back in September, so far my NW has increased by $40,000 even with paying for a modest whole house remodel and installation of a new 96% efficient furnace and A/C. 
Title: Re: Race from $1M to $2M
Post by: ynotme on December 02, 2017, 07:25:57 PM
Nice to have the market providing a boost. I thought it was going to be a maybe that I'd hit my goal for the year but I'm comfortably above it.

2014: $1,008k
2015: Goal $1,150k; Actual $1,191k
2016: Goal: $1,325k; Actual $1,353k
2017: Goal: $1,525k; YTD $1,555k
2018: Goal: $1,750k
2019: Goal >$2,000,000

Title: Re: Race from $1M to $2M
Post by: FireLane on December 03, 2017, 12:09:08 PM
Nice to have the market providing a boost. I thought it was going to be a maybe that I'd hit my goal for the year but I'm comfortably above it.

Same here. This crazy bull market is really giving me a tailwind. I wasn't expecting to join you folks in this thread until late 2018 at least.

To be honest, it's making me more anxious rather than more confident. When I'm blowing past my goals this fast, I worry that these gains can't be real or sustainable. Sooner or later, the markets are bound to come crashing back to earth.

I'm still putting money in, because I want to ride the wave as long as it lasts. But I'd feel a lot better about retiring if there was a downturn, even a little one, before I pull the ripcord.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on December 03, 2017, 05:11:03 PM
First million was the easiest for me.  Why?  I never added up my investments until I was at about $1.5M.  It was a surprise to me since the wife and I had small accounts scattered all over the galaxy.  None were very big but there were a lot of them.  It's also why I did well during the 08 downturn.  I didn't even know my Fidelity password.  I had moved an old, big 401k to an IRA and half of the money was sitting in a money market account for years.  Since those years were 07, 08, 09, it worked out fine.
Ha. I've heard that from others, too. They never added it up--and then BOOM! Congrats.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on December 03, 2017, 05:12:51 PM
Household net worth today is at $1.028M ($785K in investments/cash, $243K in home equity).  It took 19 years to get here--let's see how long it takes to do it again.  They say your first million is the hardest, right?  ;-)
It took me 17 years to get to $1mil crossing that threshold on June 1st 2016.  But since then things have skyrocketed:

- getting to $1.1mil took me six months;
- from $1.1mil to $1.2mil took five months;
- from $1.2mil to $1.3mil took five months.

It's been 1.5 months since I reached $1.3mil and I'm now less than $50K away from $1.4mil.

It certainly builds on itself. I wonder how much of it has to do with the bull market.
Title: Re: Race from $1M to $2M
Post by: Bateaux on December 03, 2017, 07:26:40 PM
Nice to have the market providing a boost. I thought it was going to be a maybe that I'd hit my goal for the year but I'm comfortably above it.

Same here. This crazy bull market is really giving me a tailwind. I wasn't expecting to join you folks in this thread until late 2018 at least.

To be honest, it's making me more anxious rather than more confident. When I'm blowing past my goals this fast, I worry that these gains can't be real or sustainable. Sooner or later, the markets are bound to come crashing back to earth.

I'm still putting money in, because I want to ride the wave as long as it lasts. But I'd feel a lot better about retiring if there was a downturn, even a little one, before I pull the ripcord.

Same here.  This rally just doesn't feel real.  It's very fragile, but it real money right now.  My invested NW goal for 2017 was 1.7M   That is well behind as were approaching 1.85M  The FIRE goal is 2M, that could happen next year.  Not sure I'd be ready to step off onto this mountain top.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on December 04, 2017, 07:33:22 PM
Bateaux, You plan to retire in 2019?

If thats the case I would suggest a rebalance now to 70/30 or 80/20. You have plenty of money and can expect some sinificant growth over time with 70% stocks.. But still have bonds to live on for several years.

Just my perspective.

I'm glad to hear this from two of you. I'm graduating in 2019, too. I'm 76% in stocks now. And it's a little higher as I don't include about $20K from a brokerage in that figure. Over the past two years, I've been purchasing bonds with the goal of becoming 70/30.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on December 04, 2017, 10:04:05 PM
It took me 17 years to get to $1mil crossing that threshold on June 1st 2016.  But since then things have skyrocketed:

- getting to $1.1mil took me six months;
- from $1.1mil to $1.2mil took five months;
- from $1.2mil to $1.3mil took five months.

It's been 1.5 months since I reached $1.3mil and I'm now less than $50K away from $1.4mil.

It certainly builds on itself. I wonder how much of it has to do with the bull market.
Probably about 80% of it is due to the market is my guess.  The other 20% is my monthly contributions and quarterly dividends.
Title: Re: Race from $1M to $2M
Post by: Bateaux on December 04, 2017, 10:35:04 PM
Bateaux, You plan to retire in 2019?

If thats the case I would suggest a rebalance now to 70/30 or 80/20. You have plenty of money and can expect some sinificant growth over time with 70% stocks.. But still have bonds to live on for several years.

Just my perspective.

I'm glad to hear this from two of you. I'm graduating in 2019, too. I'm 76% in stocks now. And it's a little higher as I don't include about $20K from a brokerage in that figure. Over the past two years, I've been purchasing bonds with the goal of becoming 70/30.

I have a Prudential retirement account as well thats worth about 350k, growing at 5% and contributions monthly by my employer of 12% of my salary.  That would knock down my stock percentage.  I'm currently buying the Vanguard total bond fund as well as a taxable account.  Going to try and get a couple of hundred thousand in bond related investment soon, there will still be well over a million in the stock market.  Not sure when I'll FIRE.  2019 at the earliest, 2023 at the latest.  If I want company provided health insurance that's 2023 at age 55.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on December 09, 2017, 04:45:22 PM
It took me 17 years to get to $1mil crossing that threshold on June 1st 2016.  But since then things have skyrocketed:

- getting to $1.1mil took me six months;
- from $1.1mil to $1.2mil took five months;
- from $1.2mil to $1.3mil took five months.

It's been 1.5 months since I reached $1.3mil and I'm now less than $50K away from $1.4mil.

It certainly builds on itself. I wonder how much of it has to do with the bull market.
Probably about 80% of it is due to the market is my guess.  The other 20% is my monthly contributions and quarterly dividends.
Nice work! =-)
Title: Re: Race from $1M to $2M
Post by: chasesfish on December 14, 2017, 06:01:36 AM
Is anyone else flirting with the halfway mark over and over?  The past week and a half make me think I have a chance of cracking $1.5mil before the end of the year.
Title: Re: Race from $1M to $2M
Post by: ysette9 on December 14, 2017, 11:46:49 AM
I think we are around $1.6, but I cant access some of the accounts right now to do a full update (husband's retirement accounts), so I don't really know. Maybe there will be a nice surprise once we finally have that money date.
Title: Re: Race from $1M to $2M
Post by: Bateaux on December 14, 2017, 07:52:32 PM
Just back of the napkin math puts us at about 1.9M. currently.  Investments and cash.  Can't believe we're within 5% of FIRE target.  Even a 0% return next year puts us at 2M.  Still watching this bull market cautiously.   FIRE date is still mid 2019 at the earliest and minimum 2M investments and cash.  Unless we find decent health insurance options, will continue to push out the FIRE date to 2023 when eligible for employers plan.  Currently  $1200 a month for retirees and rising.  Single payer seems like a distant dream now.  We were so close.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on December 16, 2017, 10:26:04 AM
Just back of the napkin math puts us at about 1.9M. currently.  Investments and cash...
Looking forward to the day you cross the line to $2M!!
Title: Re: Race from $1M to $2M
Post by: wannabe-stache on December 19, 2017, 07:51:40 AM
Just back of the napkin math puts us at about 1.9M. currently.  Investments and cash...
Looking forward to the day you cross the line to $2M!!

We crossed the $2M mark sometime in December. $1.95M investments, some cash and other alternative investments puts us around $2.05M.  It was quite uneventful as we are young, have a 5 month old in the house and plan to keep on keepin' on.

it's been said before but it's truly amazing how it builds momentum, particularly in a nice bull market.  it will be interesting to see what happens in 2018, both in the markets and on these forums...
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on December 19, 2017, 08:45:29 AM
We crossed the $2M mark sometime in December. $1.95M investments, some cash and other alternative investments puts us around $2.05M...
Alright!
Title: Re: Race from $1M to $2M
Post by: Exflyboy on December 19, 2017, 11:23:52 AM

[/quote]

We crossed the $2M mark sometime in December. $1.95M investments, some cash and other alternative investments puts us around $2.05M.  It was quite uneventful as we are young, have a 5 month old in the house and plan to keep on keepin' on.

it's been said before but it's truly amazing how it builds momentum, particularly in a nice bull market.  it will be interesting to see what happens in 2018, both in the markets and on these forums...
[/quote]

$2M and you're "quite young".. So how old are you and when do you expect to retire? if you wait 15 years at the average S&P 500 growth rate (assuming 100% stocks) you'd have over $8 million...Awesome..:)
Title: Re: Race from $1M to $2M
Post by: wannabe-stache on December 19, 2017, 12:03:07 PM


We crossed the $2M mark sometime in December. $1.95M investments, some cash and other alternative investments puts us around $2.05M.  It was quite uneventful as we are young, have a 5 month old in the house and plan to keep on keepin' on.

it's been said before but it's truly amazing how it builds momentum, particularly in a nice bull market.  it will be interesting to see what happens in 2018, both in the markets and on these forums...
[/quote]

$2M and you're "quite young".. So how old are you and when do you expect to retire? if you wait 15 years at the average S&P 500 growth rate (assuming 100% stocks) you'd have over $8 million...Awesome..:)
[/quote]

Me 38, wife is 34.  We're both high earners but didn't start really saving (or tracking it) until this year.  i would guess our investments were less than $1.1-1.2M at the beginning of this year, and sadly a lot of it was in cash.

hope to retire at 45 but my wife will likely continue to work.  we both have the golden handcuffs "problem" but i for one can't wait to step away.
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on January 01, 2018, 09:26:43 AM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

At $1.36M  at end of 2017
NW increase of almost $180k without jobs. I'll take that for markets doing their magic

Happy New Year
Title: Re: Race from $1M to $2M
Post by: MishMash on January 01, 2018, 09:35:05 AM
1.75 at the end of the year, 300kish increase over last, almost all gains with very little of it saving.
Title: Re: Race from $1M to $2M
Post by: ynotme on January 01, 2018, 01:49:39 PM
Happy new year all!

My end of year numbers below; >$200k increase for the first time.

2014: $1,008k
2015: $1,191k
2016: $1,353k
2017: $1,561k
Title: Re: Race from $1M to $2M
Post by: Roboturner on January 02, 2018, 10:45:18 AM
Officially graduated from the 500k-1MM race - glad to join this one

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

Title: Re: Race from $1M to $2M
Post by: bluerunner on January 02, 2018, 11:25:32 PM
Enjoyed reading the other race threads!

I am 39yr old, married.  I work in technology operations, wife works in education.

Numbers below exclude current residence.

April 2015 - hit $1M (yay! big milestone for us :)
August 2016 - $1.2M

Happy investing!

Wow - work and life got me busy, and I had forgotten about this thread until now!

Congratulations to all those that hit their goal!

January 2018 - $1.8

Keep on keeping on! :)

Title: Re: Race from $1M to $2M
Post by: Dicey on January 02, 2018, 11:35:39 PM
Wow, lots of great updates. Keep 'em coming!
Title: Re: Race from $1M to $2M
Post by: Zoot on January 03, 2018, 05:10:03 AM
End of month = another spreadsheet cell filled in!  :)

Here we go again!  :)

MonthLiquidNet Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K

Investment accounts rose by $14K while net worth rose by $3K; this is because we depleted some cash to pay for renovations that are ongoing at our house and I don't count cash as part of our investment account totals.

Overall gain in NW for 2017 was $175K, and gain in investment accounts was $192K.  Astounding--our investment accounts made roughly 2.5x what we put in to them.  It's a long way to $2M in NW, but we're an ever-so-tiny bit closer than we were last month.  :)

(posting also in the $500K to $1M thread for investments)
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on January 03, 2018, 05:54:07 AM
Reached $1.4 million, which is an awesome way to start of the first business day of 2018.  The recent growth spurt looks like this:

- reached $1mil on June 1st 2016;
- getting to $1.1mil took six months;
- from $1.1mil to $1.2mil took five months;
- from $1.2mil to $1.3mil took five months;
- from $1.3mil to $1.4mil took three months.

Interesting to see how long it takes to get to $1.5mil.  I'm still actively contributing to taxable and retirement accounts.
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on January 03, 2018, 05:54:17 AM
I just ticked over $1.3m. 

I expect to fall back a bit over the next few months as I changed housing and bought for location and bones and am in the mist of modest cosmetic renovations.  But I'm excited to see how things go.  With the changed I now have an additional $200,000 invested as my previous house was paid for and now I have a modest mortgage of that amount.  This also brings my NW minus the primary residence up to over $1m for the first time.

Um, crazy markets, spent close to $40,000 on home renovations up to $1.36 million.
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 03, 2018, 07:23:55 AM
I'd be happy to see a slow and steady market going forward.  Is that going to happen?  Probably not, normally we pump ourselves right over the edge and have to claw our way back up.  It's all good though, it all smoothes out in the long ride.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on January 03, 2018, 03:51:57 PM
I'd be happy to see a slow and steady market going forward.  Is that going to happen?  Probably not, normally we pump ourselves right over the edge and have to claw our way back up.  It's all good though, it all smoothes out in the long ride.
Probably a lot of volatility in the next few years but overall trend is upward.  I'm signed up to view Vanguard's webcast tomorrow evening.  Discussion will be 2018 outlook, and I'm really looking forward to listening.
Title: Re: Race from $1M to $2M
Post by: zoomzip on January 03, 2018, 04:19:10 PM
I'm late to the thread, but I just crossed into the two comma club last month (invested, -NW is more like 1.3M).  My current plan is to work hard/save hard until May 2019 when I'll (hopefully) have about 1.3 invested, and then coast/reduce hours while DW works until she gets her pension (2027ish).  That should put us over 2M.
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 03, 2018, 06:55:16 PM
I'm late to the thread, but I just crossed into the two comma club last month (invested, -NW is more like 1.3M).  My current plan is to work hard/save hard until May 2019 when I'll (hopefully) have about 1.3 invested, and then coast/reduce hours while DW works until she gets her pension (2027ish).  That should put us over 2M.
Looks good.   Good luck building that stash.  You've got a powerful portfolio working for you now.
Title: Re: Race from $1M to $2M
Post by: sisto on January 04, 2018, 10:05:22 AM
I'd like to join this race. I'd been lingering in the race to $1M for a long time now and then realized that I had blown by it a few months ago due to my HSA account that isn't in MINT. So here I am sitting just over $1M and ready to move on. I plan to FIRE at $1.25M or so, I'm eligible to retire from MegaCorp June 7, 2021 and should hit my number by then.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on January 05, 2018, 07:19:50 PM
Welcome, zoomzip and sisto!
Title: Re: Race from $1M to $2M
Post by: talltexan on January 08, 2018, 01:04:10 PM
Mint isn't very good about HSA's, and--to be honest--neither is Microsoft word. I always need several tries to write those initials there!
Title: Re: Race from $1M to $2M
Post by: sisto on January 08, 2018, 03:13:27 PM
Welcome, zoomzip and sisto!
Thank you! So glad to be here.
Title: Re: Race from $1M to $2M
Post by: Holyoak on January 08, 2018, 03:39:51 PM
4/25/17:   First time to cross $1.5MM investments and cash

12/18/17: First time to cross $1.6MM investments and cash

Been ER since 2013, and have not added a dimes worth of earned income; just market gains, dividends, and a WR of about 2% from my boring 65/35 index fund mix, with a bit of stocks thrown in for variety.  Thank you Mr. Bogle.



Title: Re: Race from $1M to $2M
Post by: Exflyboy on January 08, 2018, 05:19:27 PM
Nice!...:)
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on January 08, 2018, 06:34:28 PM
4/25/17:   First time to cross $1.5MM investments and cash

12/18/17: First time to cross $1.6MM investments and cash

Been ER since 2013, and have not added a dimes worth of earned income; just market gains, dividends, and a WR of about 2% from my boring 65/35 index fund mix, with a bit of stocks thrown in for variety.  Thank you Mr. Bogle.

Did you settle on a place to move to?  I recall you were interested in Michigan at one point.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on January 08, 2018, 06:39:53 PM
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.
Title: Re: Race from $1M to $2M
Post by: Dicey on January 08, 2018, 10:10:37 PM
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.
Hmmm, I'm afraid you may have fallen and hit your head as you crossed the threshold, but we do appreciate good manners.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on January 08, 2018, 10:20:28 PM
Sorry Tempus,

Nobody told you that the more money you earn the cheaper you become.

Great for piling up huge sums under a hugely over stuffed mattress..:)
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 08, 2018, 10:54:31 PM
Sorry Tempus,

Nobody told you that the more money you earn the cheaper you become.

Great for piling up huge sums under a hugely over stuffed mattress..:)

Isn't it crazy?  I don't want to spend money on anything anymore.  When I do it had better have tremendous value per dollar.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on January 09, 2018, 02:30:09 AM
I knew I wasn't the only one..:)
Title: Re: Race from $1M to $2M
Post by: FireLane on January 09, 2018, 06:14:04 AM
Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Welcome to the thread! Here's your complementary monocle.

My friends and I actually have sabered open a champagne bottle! We did it as a New Year's Eve stunt a few years ago, long before my millionaire or even MMM-aware days. It's a cool trick and not as hard as it sounds.
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on January 09, 2018, 06:51:57 AM
I'm a little late to this party.  We crossed $1M in invested assets last May, and now it's $1.16.

Four months later, we're up $50k (~4%) to $1.21M.  Not bad for a third of the year, especially considering we wrote a $25k check mid-summer, plus about $2,500 in other unanticipated/one-time home expenses.  Our investment returns haven't been stellar since May, but we just keep plugging away at the tax-deferred accounts.

3.5 months later (end of 2017) we hit $1.3M.  9 days later it's $1.32M.  (LNW).

4% of current portfolio covers 100% of our baseline retirement expenses*, plus ~$9k/yr for taxes and healthcare combined.  Assuming current ACA rules/subsidies and federal tax rates, we're FI at our baseline spending level.

*not the same as our current expenses, which also include mortgage and various child-related items.
Title: Re: Race from $1M to $2M
Post by: Holyoak on January 09, 2018, 10:15:31 AM
Thanks Exflyboy, and add me to the hate to spend $$$ crowd.  It's an interesting type of frugality at least for me, based on discipline wrought from a prior life where at one point I had $537 to my name.  I never saw $$$ as anything but a tool, but I like my tools well oiled and sharp.  My cup runneth over, yet I want less and less, and my already meager possessions continue to shrink.  For me, becoming some kind of millionaire caricature would be a near seppuku level of hypocrisy - I could never live with what has always been my greatest fear; to become what I hate.  My glide path remains under the radar, all the while contemplating a true final approach as I grow older...  Many in my family were not long for this world, and I'm trying to see if I can alter this trajectory.     

What a paradox we MMM types truly know, and fully understand; Hit a $10k scratch-off, and most folks would see visions of a new bigger car payment, and a trip to Myrtle Beach; a $10k windfall for MMM types would most likely be added to a 401k, sent to Vanguard to witness the magic of compounding, fund schooling, etc. 

David, you remember quite well, and now as then I value and appreciate the advice you gave.  I did end up moving, but just a few dozen miles north of where I was.  I had to get out of the duplex I was in, into a free-standing rental home so I could have a bit more peace and privacy to consider my next step. 
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on January 09, 2018, 02:13:29 PM
I totally can relate to the desire for peace and privacy. Very important!
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on January 10, 2018, 04:15:14 AM
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.
Hmmm, I'm afraid you may have fallen and hit your head as you crossed the threshold, but we do appreciate good manners.

Well except for the drinking Budweiser, please keep that swill away.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on January 10, 2018, 07:30:43 AM
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.
Hmmm, I'm afraid you may have fallen and hit your head as you crossed the threshold, but we do appreciate good manners.

Well except for the drinking Budweiser, please keep that swill away.

I'm actually a Newcastle man, myself.  Seems more civilized. 
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 10, 2018, 01:38:23 PM
The one luxury I've afforded myself is better beer.  It's been craft beer for me since the 80s.
Title: Re: Race from $1M to $2M
Post by: wannabe-stache on January 10, 2018, 03:06:54 PM
The one luxury I've afforded myself is better beer.  It's been craft beer for me since the 80s.

Same here.  Well, since 2014 it's been craft for me.  It's unreal what I spend on good beer.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on January 10, 2018, 04:25:44 PM
The one luxury I've afforded myself is better beer.  It's been craft beer for me since the 80s.

Same here.  Well, since 2014 it's been craft for me.  It's unreal what I spend on good beer.

I have friends that used to home brew, but honestly there are so many micro/pico/fempto brews available today, it seems pointless. 
Title: Re: Race from $1M to $2M
Post by: sisto on January 10, 2018, 04:41:00 PM
@TempusFugit your comment made my day! Funny stuff right there. I spend all my money on fancy wine though. I was also just looking at my 401K and being amazed that at only 10 days into the new year it's up nearly $18K. That just seems ridiculous.
Title: Re: Race from $1M to $2M
Post by: zoomzip on January 10, 2018, 05:21:59 PM
I'm a deschutes brewery (mirror pond and pacific wonderland lager) person.  Also my little luxury.  Lookeee here what the millionaires have in common!

I'm also up about 20K over the month just based on portfolio growth.
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on January 10, 2018, 10:03:41 PM
The one luxury I've afforded myself is better beer.  It's been craft beer for me since the 80s.

You reminded me that I should find myself an occasion to sample my favorite beer (https://www.ratebeer.com/beer/delirium-tremens/1039/) more often, I'll try to reproduce something like this pictures, just for this thread :)
(https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/DT_in_Palm_Springs.jpg/2560px-DT_in_Palm_Springs.jpg)
Title: Re: Race from $1M to $2M
Post by: Zoot on January 11, 2018, 09:29:03 AM
You reminded me that I should find myself an occasion to sample my favorite beer (https://www.ratebeer.com/beer/delirium-tremens/1039/) more often.

Mmmmmm, Delirium Tremens--what an awesome beer.  Have you tried Delirium Noel?

Title: Re: Race from $1M to $2M
Post by: FireLane on January 11, 2018, 04:33:37 PM
Another craft beer lover here! You can't go wrong with anything Belgian, especially the Trappist brews.
Title: Re: Race from $1M to $2M
Post by: JoJoP on January 12, 2018, 12:09:01 AM
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.

Come in here dear boy, have a cigar. You're going to go far, you're gonna to fly high, you're gonna make it if you try and they're gonna love you!

Welcome!
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on January 12, 2018, 12:33:09 AM
Hi folks! Back to being the poorest guy in the thread.

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
Title: Re: Race from $1M to $2M
Post by: iluvzbeach on January 12, 2018, 01:50:16 AM
HD, welcome to the two comma club!
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 12, 2018, 08:18:33 AM
HD is on FIRE!  Wow! 
Title: Re: Race from $1M to $2M
Post by: Exflyboy on January 14, 2018, 05:58:21 PM
Hi folks! Back to being the poorest guy in the thread. But hey, after this thread I'm done with this "race" business!

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34

Nice job.. Yeah I hear ya.. I'll be done with racing at $3M.. No.. Make that 4, ok maybe $5m...:)
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on January 14, 2018, 06:16:27 PM
There needs to be a "Race from $3M to $5M thread"
Title: Re: Race from $1M to $2M
Post by: ozbeach on January 14, 2018, 11:31:30 PM
I joined the double-comma club at close of trading today when my LNW reached AU$1,002,455 (full NW is ~AU$1.6M but I only look at liquid for SWR calcs).

This is my FIRE number so unless I OMY for ten years running or something extraordinary happens I can't see myself ever reaching the end of this race, but just happy to be here :)
Title: Re: Race from $1M to $2M
Post by: wkumtrider on January 16, 2018, 10:38:58 AM
As of Jan 2018 I am officially a millionaire!  $1,003,080 net worth.   Working toward $2 million. 
Title: Re: Race from $1M to $2M
Post by: couponvan on January 16, 2018, 01:18:44 PM
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 16, 2018, 01:45:14 PM
Welcome aboard new 7 figure members.  Looking forward to your input and stories.  Well done.
Title: Re: Race from $1M to $2M
Post by: Heavenbound on January 17, 2018, 11:49:27 AM
Hello!  Long time lurker yadda yadda.  I'm currently doing this race with you all.  $1.69M as of 1/10/2018.  Here's to a great 2018 everyone!
Title: Re: Race from $1M to $2M
Post by: beeboy on January 17, 2018, 02:38:51 PM
Hello all.

It was recommended to me from Couponvan that I join this thread. I'm currently at about 1.4 mil in invested assets (a mix of a brokerage account, annuity, REIT, 401K, cash and savings). Much of my gains lately have been thanks to the unbelievable stock market and I'm hoping to hit 2 mil within four years at which point I'll consider myself FIRE-D at 48 (I'm currently 44). Happy to be here and add to the discussion or answer any questions.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on January 17, 2018, 02:59:49 PM
Welcome to you both. Its awesome to see people successfully surfing ahead of the wave.. and getting further and further ahead of it by doing almost nothing..:)
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on January 17, 2018, 06:10:24 PM
6/30/17: 1.002 million, two months shy of my 35th birthday
1/17/18: 1.219 million, 4.5 months after my 35th birthday

Feels like this crazy market has put things into hyperdrive. Hoping I've got enough buffer to remain in the two comma club through the next correction, but who knows?
Title: Re: Race from $1M to $2M
Post by: beeboy on January 18, 2018, 10:18:31 AM
Welcome to you both. Its awesome to see people successfully surfing ahead of the wave.. and getting further and further ahead of it by doing almost nothing..:)

Thanks Exflyboy. It was certainly quite a looong journey from 0 to 1 million. Thought I would never get there. Hoping the 2nd is much easier and faster, which I hear it is (knock on wood).
Title: Re: Race from $1M to $2M
Post by: couponvan on January 18, 2018, 10:40:14 AM
Welcome to you both. Its awesome to see people successfully surfing ahead of the wave.. and getting further and further ahead of it by doing almost nothing..:)

Thanks Exflyboy. It was certainly quite a looong journey from 0 to 1 million. Thought I would never get there. Hoping the 2nd is much easier and faster, which I hear it is (knock on wood).

The first $1.0 MM took just over 40 years. The second $.5 took around 5.  I'd say the curve is speeding up....That's a good thing!
Title: Re: Race from $1M to $2M
Post by: Exflyboy on January 18, 2018, 11:57:17 AM
Yes same here.. second million took 4.5 years.. Of course a raging bull market helped.

Maybe my third one will be here in 2 years eh?.. :)
Title: Re: Race from $1M to $2M
Post by: Jantoven on January 18, 2018, 02:06:15 PM
Yes same here.. second million took 4.5 years.. Of course a raging bull market helped.

Maybe my third one will be here in 2 years eh?.. :)

Bull market + compound interest = victory!  😬
Title: Re: Race from $1M to $2M
Post by: JoJoP on January 18, 2018, 04:18:53 PM
Welcome to you both. Its awesome to see people successfully surfing ahead of the wave.. and getting further and further ahead of it by doing almost nothing..:)

Thanks Exflyboy. It was certainly quite a looong journey from 0 to 1 million. Thought I would never get there. Hoping the 2nd is much easier and faster, which I hear it is (knock on wood).

The first $1.0 MM took just over 40 years. The second $.5 took around 5.  I'd say the curve is speeding up....That's a good thing!

Welcome to both of you. It does seem like it just gets easier.  The more you've got the more ducats that are earning more ducats.   It's a very cool snowball.
Title: Re: Race from $1M to $2M
Post by: ShadowRegent on January 22, 2018, 06:35:28 PM
Back to being the poorest guy in the thread.

Nope, that would be me!  Wasn't planning to make it here so soon, but with the recent market gains, I've somehow stumbled my way over here (at least until a correction comes along)!

1/2018 - $1,001,992
12/2017 - $961,556
11/2017 - $855,662
10/2017 - $841,984
9/2017 - $825,048
8/2017 - $810,361
7/2017 - $742,337
2016 - $619,152
2015 - $593,948
2014 - $190,525
2013 - $82,600
2012 - $75,812
2011 - ($159,240)
2010 - ($188,257)
Title: Re: Race from $1M to $2M
Post by: couponvan on January 22, 2018, 07:08:29 PM
Back to being the poorest guy in the thread.

Nope, that would be me!  Wasn't planning to make it here so soon, but with the recent market gains, I've somehow stumbled my way over here (at least until a correction comes along)!

1/2018 - $1,001,992
12/2017 - $961,556
11/2017 - $855,662
10/2017 - $841,984
9/2017 - $825,048
8/2017 - $810,361
7/2017 - $742,337
2016 - $619,152
2015 - $593,948
2014 - $190,525
2013 - $82,600
2012 - $75,812
2011 - ($159,240)
2010 - ($188,257)
Damn....whatever it is you are doing, keep it up - talk about a sprint!!
Title: Re: Race from $1M to $2M
Post by: ShadowRegent on January 22, 2018, 07:31:57 PM
Damn....whatever it is you are doing, keep it up - talk about a sprint!!

I got incredibly lucky and was able to pull myself out of debt quickly.  After that, I was too afraid of squandering that luck to continue to make bad financial decisions.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on January 22, 2018, 10:00:35 PM
Nope, that would be me!  Wasn't planning to make it here so soon, but with the recent market gains, I've somehow stumbled my way over here...
lol.  Welcome aboard!
Title: Re: Race from $1M to $2M
Post by: fmzip on January 23, 2018, 09:51:43 AM
The race is on, just crossed the first line yesterday, not to shabby for a high school grad. Hoping for $2M in 12 mores years at 63. If not, I am done with the grind regardless :)

(http://thetechhouse.myqnapcloud.com/~fmzip/7digits.jpg)
Title: Re: Race from $1M to $2M
Post by: HappierAtHome on January 24, 2018, 12:32:11 AM
$1.06M now. Progress is slower as we're cutting our income (both going to work 0.6FTE). Should be worth it though :-)
Title: Re: Race from $1M to $2M
Post by: Exflyboy on January 24, 2018, 09:57:12 AM
Awesome.. congratulations..:)
Title: Re: Race from $1M to $2M
Post by: ozbeach on January 24, 2018, 11:32:52 AM
$1.06M now. Progress is slower as we're cutting our income (both going to work 0.6FTE). Should be worth it though :-)

Congratulations HaH - hopefully the market will do more of the work for you now and you can cut back that 0.6 FTE even further!
Title: Re: Race from $1M to $2M
Post by: HappierAtHome on January 24, 2018, 04:16:12 PM
$1.06M now. Progress is slower as we're cutting our income (both going to work 0.6FTE). Should be worth it though :-)

Congratulations HaH - hopefully the market will do more of the work for you now and you can cut back that 0.6 FTE even further!

Our employers won't let us work less than 0.6FTE! I suspect as we get closer to FIRE one of us will quit work entirely while the other one works 0.6FTE. Which sounds like a great setup to me!
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on January 27, 2018, 06:41:34 AM
Whiplash to $1.4M total and over $1M in mutual funds.  Heck I'm still shaking my head that even when I spend money my NW goes up.

Title: Re: Race from $1M to $2M
Post by: Recovering Spender on January 27, 2018, 11:02:06 AM
Joining the race as well. 

We didnít start really tracking this until March of last year.

NW 3/2017: $855K
NW 1/2018: $ 1,126K (+24%)

Hoping to knock out the 2nd mortgage in the next 6 months and have the primary as the only liability on our balance sheet.

Itís been fun to go back read this thread all the way through.
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 27, 2018, 11:55:38 AM
Joining the race as well. 

We didnít start really tracking this until March of last year.

NW 3/2017: $855K
NW 1/2018: $ 1,126K (+24%)

Hoping to knock out the 2nd mortgage in the next 6 months and have the primary as the only liability on our balance sheet.

It's going to rocket higher from here.

Itís been fun to go back read this thread all the way through.
 
My apologies, I've been whining and crying on this thread for years.   1969k currently.  Don't look back.  Good luck.
Title: Re: Race from $1M to $2M
Post by: JoJoP on January 28, 2018, 11:23:33 AM
Back to being the poorest guy in the thread.

Nope, that would be me!  Wasn't planning to make it here so soon, but with the recent market gains, I've somehow stumbled my way over here (at least until a correction comes along)!

1/2018 - $1,001,992
12/2017 - $961,556
11/2017 - $855,662
10/2017 - $841,984
9/2017 - $825,048
8/2017 - $810,361
7/2017 - $742,337
2016 - $619,152
2015 - $593,948
2014 - $190,525
2013 - $82,600
2012 - $75,812
2011 - ($159,240)
2010 - ($188,257)

Wow, look what you did between 2013 and 2016.  That's impressive.   Welcome.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on January 28, 2018, 12:06:10 PM
Thats a very impressive run.. Well done.
Title: Re: Race from $1M to $2M
Post by: Arbitrage on January 30, 2018, 01:40:05 PM
We'll see if I RE before this race is done.  I hope so; might require a couple of facepunches to reduce our budget further (biggest offenders are food, gifts for kids - ours and others).

I'm including home equity; planning to sell the house and move to a lower COLA.

12/2011: $244k
12/2012: $344k
12/2013: $446k
12/2014: $541k
12/2015: $674k
12/2016: $822k
12/2017: $1071k
1/2018:  $1092k or so after today's drop

Title: Re: Race from $1M to $2M
Post by: FOBStash on January 30, 2018, 06:30:09 PM
We hit 2M in the New Year thanks to increased income, a bit of real estate equity run-up and the raging stock market (although haven't done the calculations today when the DOW dropped). Still pinching ourselves as we started as immigrants in the US with about $5K with 2 years work experience in our home country before moving here. Took 13 years to $1M and 3 years to get to $2M. Made a lot of mistakes along the way.

Our goal is 2.5M with paid off house since we live in VHCOL area and all our family is here. Probably going with FAT Fire as we luckily enjoy our jobs - for now. Celebrated by eating out at the local Pho Noodle house.

2004 - ~$5K
2006 - $66K
...too scared to look at balances when Great Recession hit
2009 - $450K
2013 - $760K
2014 - $900K (started to double down and get serious with MMM and Bogleheads)
2015 - $1.2M
2016 - $1.5M
2017 - $1.93M
Jan 2018 - $2.045M
Title: Re: Race from $1M to $2M
Post by: Zoot on February 01, 2018, 06:20:03 AM
First day of a new month--time for another update!  :)

MonthLiquidNet Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K

How can it POSSIBLY be that our net worth rose $37K this month--or, even more mind-boggling, that our investment accounts rose by $40K?  It still boggles my mind. 

Yes, we added our usual ~$7K through savings in tax-deferred accounts, employer match, and post-tax savings, so I suppose that made our actual investment account GAIN "only" $33K.  Still--wow.

We made another payment of 7K to our contractors on our home renovations (we'll pay the last $1K next month and will be done with that for a while).

Here's to a successful February for everybody!

(posting also in the $500K to $1M thread for investments)
Title: Re: Race from $1M to $2M
Post by: TempusFugit on February 01, 2018, 12:36:28 PM
The January numbers are in, and they look good. 

                 LNW      TNW
Jan 2018 - 846K  /  987K 
Feb 2018 - 880K /  1.02M     

+33K on the year so far. 

I'm trying to prepare psychologically for the downturn.  It could be ugly after such a run up. 

But.. I bet the market will be higher 5 years from now than it is today.   
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on February 01, 2018, 10:19:17 PM
$93K for the month of January! Pretty sure this is my best month ever!

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
Title: Re: Race from $1M to $2M
Post by: MishMash on February 02, 2018, 08:38:53 AM
Some how increased 100k this month....all gains.  It's starting to scare me a little bit. But heck, another 10% boost and we'll clear 2m
Title: Re: Race from $1M to $2M
Post by: Bateaux on February 02, 2018, 10:31:01 PM
Got within 31K of the 2M club.  With the 666 selloff much farther away now.
Title: Re: Race from $1M to $2M
Post by: talltexan on February 05, 2018, 08:30:03 AM
A robust bear market might knock me out of this group. It's been nice being with you guys!
Title: Re: Race from $1M to $2M
Post by: Bateaux on February 05, 2018, 04:41:25 PM
A robust bear market might knock me out of this group. It's been nice being with you guys!

Shake it off Texan.  You should know being from Texas bull riding comes with some falls.  Keep with your plan and you'll forget all about this dip when the bull charges again.  Yah Hoo!
Title: Re: Race from $1M to $2M
Post by: Exflyboy on February 05, 2018, 06:02:35 PM
Haha.. I'm back into this group from above..:)
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on February 05, 2018, 08:51:57 PM
Welcome back exflyboy!
Title: Re: Race from $1M to $2M
Post by: Exflyboy on February 05, 2018, 10:16:09 PM
Thanks.. I think a few more might be coming with me..:)

I'm about 1.5 new Tesla's down!
Title: Re: Race from $1M to $2M
Post by: Bateaux on February 05, 2018, 10:53:43 PM
Like I saw in another thread.  Isn't it great to be able to lose tens of thousands, hell hundreds of thousands in a few days and joke about it?  We've seen these bumps hit over and over on this journey and aren't easily shaken out. 
Title: Re: Race from $1M to $2M
Post by: Exflyboy on February 06, 2018, 12:19:33 AM
Well exactly!.. How does one actually drive 1.5 Tesla's at the same time anyway?..:)

Actually for those of us who have been through the 2008 bloodbath and realised that we not only lived through it..but was the time we made most of our money!.. well shoot.. Bring it on..:)
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on February 06, 2018, 07:21:22 AM
Well exactly!.. How does one actually drive launch 1.5 Tesla's at the same time anyway?..:)

.... shoot.. Bring it on..:)

Edit for relevance...

https://www.reddit.com/r/spacex/comments/7vghiw/falcon_heavy_launches_to_mars_orbit_tomorrow_if/
Title: Re: Race from $1M to $2M
Post by: couponvan on February 06, 2018, 08:10:21 AM
Thanks.. I think a few more might be coming with me..:)

I'm about 1.5 new Tesla's down!
3's or X's....? ;-)
Title: Re: Race from $1M to $2M
Post by: beeboy on February 06, 2018, 02:22:37 PM
Like I saw in another thread.  Isn't it great to be able to lose tens of thousands, hell hundreds of thousands in a few days and joke about it?  We've seen these bumps hit over and over on this journey and aren't easily shaken out.

Bateaux - I definitely wouldn't call it "great". LOL! But, I know what you're saying. :0)
Title: Re: Race from $1M to $2M
Post by: dogboyslim on February 06, 2018, 02:49:00 PM
I'm down $86k.  Boo.  In good news though, I had a buy order that was delayed to Monday instead of Friday, so I will got the Monday close price.  At least I've got that going for me!  :)
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on February 06, 2018, 09:21:23 PM
I donít know or care how much Iím down but I am investing my end if Year bonus daily! Of course my inner worrier is hoping Iím not catching s falling knife but my rational side has prevailed
Title: Re: Race from $1M to $2M
Post by: Dicey on February 06, 2018, 09:34:43 PM
Haha.. I'm back into this group from above..:)
Haha, why do I not believe you?
Title: Re: Race from $1M to $2M
Post by: Exflyboy on February 06, 2018, 11:59:52 PM
Haha.. I'm back into this group from above..:)
Haha, why do I not believe you?

Well depends what part of our NW your counting and.. I haven't actually added it up.. Its probably true though...;)
Title: Re: Race from $1M to $2M
Post by: PathtoFIRE on February 09, 2018, 09:02:14 AM
So I got paid today which means I've updated my spreadsheet. I'm showing a loss of $93k since 2/1 and ignoring what just got added to the stash today. Would need at least another 18% drop off yesterdays closes to start to edge out of this group (at least temporarily).

What's strange, my spreadsheet also tracks 6 funds (total US, total world ex US, total bond from Vanguard and Fidelity) as a yardstick, and on the rise up in January I wasn't too surprised to see the bond funds trending negative just over 1%. I was surprised today to see they continued that trend and are almost -2% YTD. That taps out my level of sophistication, I guess someone else would know how to check inflows/outflows into various sectors and stocks versus bonds, but that suggests that the sellers don't appear to be flowing into bonds, at least not enough to raise those values. Where are they going, cash? Maybe to pay for margin calls they made to trade cryptocurrency?

I know it doesn't mean much in the important long term, but it gives a hint that this sell-off isn't fundamental and is likely to be temporary. Can't do much about it, we've already leaned our cash position (almost too much for DW's taste), so pretty much every $ that comes in either pays expenses or gets invested immediately, but I get the feeling this "buying opportunity" will be relatively short; at least I got one payday during it, here's hoping to another!
Title: Re: Race from $1M to $2M
Post by: Bateaux on February 10, 2018, 04:54:09 AM
It's times like these, watching over 100k melt away that make it worthwhile to still be working.  It was fresh gains in a mania market and probably will drop more.  Oh well, I'm buying.
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on February 10, 2018, 10:31:56 AM
Still hanging in there and still have a decent buffer, but if this turns into a full-blown bear market I might crash out of this group.
Title: Re: Race from $1M to $2M
Post by: Holyoak on February 11, 2018, 11:19:08 AM
It's times like these, watching over 100k melt away that make it worthwhile to still be working.  It was fresh gains in a mania market and probably will drop more.  Oh well, I'm buying.

Funny how 'losing' about the same amount from the peak, has us feeling different emotions.  Even fully ER'd in spend-down mode, and not having worked for about 4 yrs, I'm absolutely calm, and almost comatose about this correction...  I only know I'm down about $108k from the peak on paper, cause I had to go to VG and update a beneficiary.  Come what may come I continue to stick to my plan, continue to live WAY under my means, and grateful for every day I don't have to work.

Having been an investor since just after the 87 crash has taught me a lot, and puts much into perspective; the 2008-ish time period, really was an acid test to see if you could truly stick by your convictions, and live your investing truth.  Remember the pundits literally saying it was the end of the USA, Dow down daily for what seemed a never bottoming panic eternity, martial law suggested, etc...  It was an absolutely binary choice, and I accelerated $$$  additions into the market and stocks.  Hell, if the USA went bust, we all would anyway, but as it turns out choices then have my ER finances in a much better position.  This recent blip, does not even make my radar, and would have to drop a hell of lot more, before I would be even remotely"anxious".     
Title: Re: Race from $1M to $2M
Post by: Exflyboy on February 11, 2018, 11:50:52 AM
@Holyoak Actually it almost WAS the end of the economy! I just hope we have learned something since then.. OK, of course we haven't, now we have VIX derivatives that have been bid up to insanely high levels and all have to come crashing down.

Thankfully this time it looks like these silly pieces of paper (laughingly called securities) have not been allowed to go on for too long before collapsing the the credit defaults did back in 2008.

Maybe thats why these corrections are considered healthy?

Its also interesting about emotional responses. The "loss aversion" where the bad feelings associated with a "loss" are far more powerful than then the happy feelings associated with the same sized "gain".

Like you I stuck with it during 2008, eventually went to a 100% stock (ETF) portfolio and near the bottom came up with cash I was finding under the cushions. Best thing I ever did. In fact most of my gains today are a result of that strategy.

Would I do that if the same thing happened today?.. Probably not as being RE'd now, one still has to eat..:).. And if you have already won the game there is no sense in betting the farm to get more.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on February 28, 2018, 10:48:50 PM
Doing monthly updates now. Looks like I just barely managed to post a gain for the month thanks to the market correction.

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
Title: Re: Race from $1M to $2M
Post by: talltexan on March 01, 2018, 09:31:58 AM
pretty impressive increase of $600 K in two years, Herbert!
Title: Re: Race from $1M to $2M
Post by: ozbeach on March 01, 2018, 12:21:46 PM
I've just updated my numbers for the end of the month and managed to stay in this race by the skin of my teeth: $1,006,013  LNW :)
Title: Re: Race from $1M to $2M
Post by: TempusFugit on March 01, 2018, 04:29:16 PM
^  you're comfortably in compared to me.  I'm only $498.00 over the $1MM mark as of this morning.  I will do myself the favor of not recalculating it tonight.   
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on March 01, 2018, 05:30:36 PM
^  you're comfortably in compared to me.  I'm only $498.00 over the $1MM mark as of this morning.  I will do myself the favor of not recalculating it tonight.

Sorry, your second comma has been revoked. ;)
Title: Re: Race from $1M to $2M
Post by: Zoot on March 02, 2018, 09:17:43 AM
First day of a new month--time for another update!  :)

MonthLiquidNet Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K
Feb-18$823K$1,087K

We paid the last of our installments ($7K) for the home renovations, and now will start saving for the next round (finishing the basement).  I upped the value of our home in our net worth calculations by a few thousand to account for the completion of the renovations.

The wild swings in the market affected the numbers, of course, but not horribly so.  Looks like we're off to another bumpy start here in March with the announcement of the increase in tariffs on aluminum and steel; should be fascinating to watch how that plays out.

Onward!

(posting also in the $500K to $1M thread for investment value)
Title: Re: Race from $1M to $2M
Post by: couponvan on March 02, 2018, 09:41:08 AM
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!

$1.54 as of 1/31/18
$1.53 as of 2/28/18

This is a 3 paycheck month and also a bonus month. Hoping March looks better for the markets. We're probably going to hit a standstill this year with a basement renovation and the college tuition gauntlet starting.
Title: Re: Race from $1M to $2M
Post by: marty998 on March 03, 2018, 09:08:12 PM
I've stalled a bit too this year with the market gyrations. Haven't really progressed at all in the last two months.

Better than being down, but have been feeling like I'm a hamster spinning a wheel...
Title: Re: Race from $1M to $2M
Post by: beeboy on March 05, 2018, 09:37:39 AM
I've stalled a bit too this year with the market gyrations. Haven't really progressed at all in the last two months.

Better than being down, but have been feeling like I'm a hamster spinning a wheel...

I hear ya Marty. Especially after the past year where it felt like an express train chugging along nicely towards FIRE. Now, it seems more like a roller coaster or a local train that keeps going backwards and forwards. We just have to stay calm, remain on the train and hopefully it picks back up after a little while. I'm trying to decide when I may want to throw some extra into the markets (maybe when it hits 22,000/23,000), but they aren't behaving normally :0). Oh well, it was a great ride while it lasted.
Title: Re: Race from $1M to $2M
Post by: webguy on March 08, 2018, 09:55:55 PM
Count me in. I love these threads as I like seeing progress over time.  I'm carrying over my progress from the 500k-1m thread if that's OK..

I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

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

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

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

Currently at $1.11m.  Don't really have a goal number at this point. I love running my own business so just tryna ride it out as long as possible and "make hay while the sun shines" as they say.

Passed the half way point!  Somehow we have $1.535m. Not sure how long the next 0.465 will take but I'll report back if we get there!

It took a little longer than Iíd hoped due to the market being a douchebag lately but we Just hit 2 million today! Weíre officially multi-millionaires I guess! I crunched the numbers and I think our ďfat fireĒ number is around 2.5-3M so Iíll probably keep trucking away till we hit that, then Iím not sure what Iíll do.
Title: Re: Race from $1M to $2M
Post by: couponvan on March 09, 2018, 12:18:51 PM
Congratulations webguy!  I look forward to seeing you in the post-FIRE section!
Title: Re: Race from $1M to $2M
Post by: PseudoStache on March 12, 2018, 04:14:48 PM
Joining.

Mint puts me at $1.625MM today including my primary residence... If I remove that equity I'm at about $1.4MM invested.  I should be able to get to 2MM invested in about 4-5 years if the market plays nice.

However, my mortgage still has about 12 years left.. and I work from home so my job is not high-stress... so I will probably keep chugging along for a bit past 2MM - Would actually like to see the PseudoStache turn into 3MM invested before I call it quits... but if life gets in the way... or I start hating or lose my job, I'll FIRE with a little a little real estate investing on the side.

I can taste the Primary Residence $2MM Net worth!  Mint has us at $1.945MM today.
Without Primary: $1.720MM (ie. $225K Home Equity)

Last April I had Zillow doing my Primary valuation through Mint - Since then, I've decided to enter in my valuation manually and am holding it at a fairly conservative "Sell it NOW!" price...  If Zillow had it's way I'd be over the $2MM mark today.

Over the next 10 months, we are set to contribute another $40K - $50K to various accounts, so if we don't experience a correction, and end up just +1% from now till 12/31, I should hit the Primary Residence milestone this year!
Title: Re: Race from $1M to $2M
Post by: montgomery212 on March 14, 2018, 10:33:13 PM
Got used to the steady incline where net worth could easily go up 5-10k in a day. Now itís 2 steps forward and one step back and the journey to the next 100k marker is painful.
Title: Re: Race from $1M to $2M
Post by: Bateaux on March 15, 2018, 05:43:00 AM
Got used to the steady incline where net worth could easily go up 5-10k in a day. Now itís 2 steps forward and one step back and the journey to the next 100k marker is painful.

I like it when the market doesn't make huge jumps.  Higher highs and higher lows excite me.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on March 15, 2018, 07:15:09 AM
I can say that these wild swings every day are helping break my habit of checking balances very often.  By the time I look, it's changed again by significant amounts. 

Even with all the drama, the S&P is up almost 3% so far on the year.  If that keeps up and we have a 10-12% return on the year, I think that would be the bee's knees. 
Title: Re: Race from $1M to $2M
Post by: itchyfeet on March 15, 2018, 09:30:41 AM
I agree.

Since my NW started bouncing around more of late, I have stopped looking so much. Which is how it should be.

For the 20+ years before I came across the Concept of FIRE, in my search to find a way out of the 9-5, I rarely looked at my NW. In fact, my knowledge of my net worth was a bit grey and fuzzy to be honest. I had some general idea of what I was worth and that was enough.

But then I started tracking my pathway to FIRE and telling DW about every $5K rise. Itís a bit of a relief that some market volatility has steered my obsessions elsewhere. I know that over the loooong term it will rise and I am caring less and less what is going on each day or week.

I hope this trend continues. It was a bit silly working my outmy NW most weeks.
Title: Re: Race from $1M to $2M
Post by: Megs193 on March 20, 2018, 06:59:43 PM
I'm new and would like to join!  I'm 34 and my husband is 38.  We don't have a solid plan of when we will retire because we both enjoy our jobs right now and don't want to leave them. I only work 1-2 days per week but he is still working FT.  As of today our NW is $1,198,693.75 without our home equity and 1,648,223.42 with it.
Title: Re: Race from $1M to $2M
Post by: couponvan on March 20, 2018, 07:48:57 PM
I'm new and would like to join!  I'm 34 and my husband is 38.  We don't have a so,I'd plan of when we will retire because we both enjoy our jobs right now and don't want to leave them. I only work 1-2 days per week but he is still working FT.  As of today our NW is $1,198,693.75 without our home equity and 1,648,223.42 with it.

Welcome Megs!  You're solidly in the race.
Title: Re: Race from $1M to $2M
Post by: Bateaux on March 24, 2018, 03:19:22 AM
Seem to have lost a Tesla again.   A Model X 90D.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on March 25, 2018, 07:32:40 AM
Seem to have lost a Tesla again.   A Model X 90D.

Ouch
Title: Re: Race from $1M to $2M
Post by: Bateaux on March 25, 2018, 09:21:00 AM
Seem to have lost a Tesla again.   A Model X 90D.

Ouch

No big deal.  Planning to work till at least 2020 now building the war chest. 
Title: Re: Race from $1M to $2M
Post by: Exflyboy on March 25, 2018, 01:01:51 PM
Yup my 1.5 Teslas have left the garage again.... I hope they come back and bring their offspring..:)
Title: Re: Race from $1M to $2M
Post by: montgomery212 on March 25, 2018, 05:14:15 PM
How much does a Model X 90D go for? Google says starting MSRP at $93,500. If that's the $ amount you're assuming for a Tesla, that's 0.45 Teslas out the door for me between retirement and the investment accounts. Ugh. Fingers crossed they come back and bring other cars with them.
Title: Re: Race from $1M to $2M
Post by: Bateaux on March 25, 2018, 10:03:00 PM
How much does a Model X 90D go for? Google says starting MSRP at $93,500. If that's the $ amount you're assuming for a Tesla, that's 0.45 Teslas out the door for me between retirement and the investment accounts. Ugh. Fingers crossed they come back and bring other cars with them.

I'd add a premium package and round my losses up to 100k, maybe a bit more.   Getting into 100D range
Title: Re: Race from $1M to $2M
Post by: itchyfeet on March 26, 2018, 02:21:47 PM
How much does a Model X 90D go for? Google says starting MSRP at $93,500. If that's the $ amount you're assuming for a Tesla, that's 0.45 Teslas out the door for me between retirement and the investment accounts. Ugh. Fingers crossed they come back and bring other cars with them.

I'd add a premium package and round my losses up to 100k, maybe a bit more.   Getting into 100D range

You got a 2nd hand base model back today 😁
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on March 28, 2018, 04:50:08 PM
And then you lost it again.
Title: Re: Race from $1M to $2M
Post by: Bateaux on March 28, 2018, 11:31:54 PM
2019 is making my choice to push the FIRE date out an easy one.
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on March 29, 2018, 09:47:53 PM
2019 is making my choice to push the FIRE date out an easy one.

Wait, what happens in 2019 and can I get a ride in the DeLorean?
Title: Re: Race from $1M to $2M
Post by: couponvan on April 02, 2018, 06:12:14 AM
2019 is making my choice to push the FIRE date out an easy one.

Wait, what happens in 2019 and can I get a ride in the DeLorean?

lol

I'm feeling the need to actually work the next year vs. quit now and let the DH continue working and spending. It's easier to quit when the market is going up than down....
Title: Re: Race from $1M to $2M
Post by: Roboturner on April 02, 2018, 01:57:13 PM
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

What a roller-coaster, doing +/- 30k+ on any given day is exhilarating :/ (TRADE WARRRRRRRRRRRRR)
Title: Re: Race from $1M to $2M
Post by: ozbeach on April 02, 2018, 02:26:22 PM
I've just updated my numbers for the end of the month and managed to stay in this race by the skin of my teeth: $1,006,013  LNW :)

Down, but not out -- still hanging on at the end of March with LNW = $1,001,005, and that's after pumping $6K into retirement accounts this month.

Last day at work tomorrow :)
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 02, 2018, 04:11:54 PM
I welcome these up and down swings in the market.  I figure as long as I keep contributing to my investments as I've done for the past 18 years this volatility is going to leave me in a stronger financial position when I RE in 17 months.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on April 03, 2018, 10:40:07 AM
I welcome these up and down swings in the market.  I figure as long as I keep contributing to my investments as I've done for the past 18 years this volatility is going to leave me in a stronger financial position when I RE in 17 months.

I keep giving myself similar pep talks too..... But, I canít help but get a little frustrated busting my a$$ shovelling into a leaky bucket, where it feels that no matter how fast i shovel the leaks are draining my bucket even faster.

Of course last year I was also shovelling really hard, but the heavens were raining down so hard on my bucket that the rain was filling my bucket even faster than my shovelling was filling it.
Title: Re: Race from $1M to $2M
Post by: dougules on April 03, 2018, 10:56:34 AM
I welcome these up and down swings in the market.  I figure as long as I keep contributing to my investments as I've done for the past 18 years this volatility is going to leave me in a stronger financial position when I RE in 17 months.

I keep giving myself similar pep talks too..... But, I canít help but get a little frustrated busting my a$$ shovelling into a leaky bucket, where it feels that no matter how fast i shovel the leaks are draining my bucket even faster.

Of course last year I was also shovelling really hard, but the heavens were raining down so hard on my bucket that the rain was filling my bucket even faster than my shovelling was filling it.

You need a new metaphor.  As soon as you buy you no longer have money.  It's equity, so if you don't sell anything you haven't lost anything.  You still have exactly the same number of shares, and the $ number is just imaginary.  The bucket analogy doesn't work. 

Instead you can get excited about shares going on sale.  If gas went down to $1/gallon would you get upset that the gas sitting in the tank of your car is worth less?  No!  You'd go top it off. 
Title: Re: Race from $1M to $2M
Post by: texxan1 on April 03, 2018, 11:36:39 AM
Hold on and go for the RIDE!!!!!!!!!!!!!!!

I'm sitting at
655k in 401k  (taken a beating lately but still smiling)
590k in Vanguard (after tax)   ( will be happy when market goes up, but ive got plenty of time)
350k lump sum pension I will receive in 3 years time.. .My fire date is jan 2021

I hope to hit the 2mil mark by the fire date I want.. But if I'm close, it wont matter

Currently dumping 20k a month into my vanguard account and 2900 in 401k plus a company match of 7percent on gross.

So looks like as long as nothing catastrophic happens, I will be at 2.2 by the time my fire date hits.

Holding back on selling my home, as its paid for and has renters in it now.. I'm living of the rental income at the moment.....

total bills right now are less than 1k a month (living in Thailand) and my spending ranges each month... even though I'm not spending much, I'm still trying to cut spending lol

FIRE HERE I COME

Title: Re: Race from $1M to $2M
Post by: TempusFugit on April 03, 2018, 04:39:53 PM
I welcome these up and down swings in the market.  I figure as long as I keep contributing to my investments as I've done for the past 18 years this volatility is going to leave me in a stronger financial position when I RE in 17 months.

I keep giving myself similar pep talks too..... But, I canít help but get a little frustrated busting my a$$ shovelling into a leaky bucket, where it feels that no matter how fast i shovel the leaks are draining my bucket even faster.

Of course last year I was also shovelling really hard, but the heavens were raining down so hard on my bucket that the rain was filling my bucket even faster than my shovelling was filling it.

You need a new metaphor.  As soon as you buy you no longer have money.  It's equity, so if you don't sell anything you haven't lost anything.  You still have exactly the same number of shares, and the $ number is just imaginary.  The bucket analogy doesn't work. 

Instead you can get excited about shares going on sale.  If gas went down to $1/gallon would you get upset that the gas sitting in the tank of your car is worth less?  No!  You'd go top it off.

I read a good analogy that Warren Buffett used somewhere, in which he compared stock ownership to owning a bunch of chickens, which you purchased for the eggs (dividends).  The stock price is more akin to your weird neighbor yelling over the fence how much he thinks your chickens are worth, and it changes every day.  You shouldn't really care what he thinks your chickens are worth because you're not selling them, so long as they keep laying eggs.  And when chickens are cheap, you maybe buy some more.
Title: Re: Race from $1M to $2M
Post by: Exflyboy on April 03, 2018, 11:28:19 PM
Hold on and go for the RIDE!!!!!!!!!!!!!!!

I'm sitting at
655k in 401k  (taken a beating lately but still smiling)
590k in Vanguard (after tax)   ( will be happy when market goes up, but ive got plenty of time)
350k lump sum pension I will receive in 3 years time.. .My fire date is jan 2021

I hope to hit the 2mil mark by the fire date I want.. But if I'm close, it wont matter

Currently dumping 20k a month into my vanguard account and 2900 in 401k plus a company match of 7percent on gross.

So looks like as long as nothing catastrophic happens, I will be at 2.2 by the time my fire date hits.

Holding back on selling my home, as its paid for and has renters in it now.. I'm living of the rental income at the moment.....

total bills right now are less than 1k a month (living in Thailand) and my spending ranges each month... even though I'm not spending much, I'm still trying to cut spending lol

FIRE HERE I COME

You're saving $23,000 a month?.. What do you for a living.. Rob banks?.:)
Title: Re: Race from $1M to $2M
Post by: texxan1 on April 04, 2018, 11:49:18 AM
LOL No bank robber here

Oil and Gas construction...


Title: Re: Race from $1M to $2M
Post by: Dicey on April 04, 2018, 12:30:06 PM
Holy shit!
Title: Re: Race from $1M to $2M
Post by: Zoot on April 04, 2018, 02:37:27 PM
First day of a new month--time for another update!  :)

MonthLiquidNet Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K
Feb-18$823K$1,083K
Mar-18$812K$1,081K

Another rough month; overall net worth was boosted by the addition of the $5K to the value of our house in our balance sheet, and we made our usual retirement account contributions and accrued the usual company match, but still pretty brutal.  Still, NW is up roughly 16% over this time last year; I'll take it!

Onward!

(posting also in the $500K to $1M thread for account balance)
Title: Re: Race from $1M to $2M
Post by: talltexan on April 06, 2018, 07:02:09 AM
Since we're all millionaires here, I figure I can share another milestone that I didn't expect to pass: 2017 is the first year in which my wife and I are not allowed to make direct contributions to Roth IRA's (our income is too high).

My wife is setting up a backdoor Roth.

I faxed paperwork in to convert all my contributions to 2018 contributions. (capital gains distributions were what put us too high, and I do not expect those to repeat this year)

If we wind up too high again in 2018, I'll just take it out and pay down some debt. Probably what I should have been doing anyway.
Title: Re: Race from $1M to $2M
Post by: Car Jack on April 06, 2018, 07:52:04 AM
We got into the phaseout zone for Roth, which was a pain in the neck.  Figured it out with taxes.  Had to pull out "excess contributions" for 2017 which means that we'll be taxed on the gains as if they were in a brokerage account.  I won't complain.....the reason we made so much was because of my employer's stock flying way up.  It is fun to get about $60k extra money, but having to undo Roth wasn't fun.  For 2018, we'll wait till our taxes are complete before putting in dime one.
Title: Re: Race from $1M to $2M
Post by: talltexan on April 09, 2018, 07:21:13 AM
I know there is not a lot of love for American Funds on this site. (they are the custodians of my Roth)

Within eight hours of my faxing the "excess contributions" form to them, they had reflected the changes in my online account. All those extra fees must pay for something 8-)

But--thinking about how to manage Roth contributions in the phase-out zone, I think I would take the "lump sum at the start of the year" approach:

Step 1: contribute $5,500 on Jan 1; these are 2018 contributions made on 1/1/2018
Step 2: start setting aside 2019 contributions into a separate savings account, $458.33 each month.
Step 3: Now it's Feb 2019: I am doing my taxes for 2018 and know what my AGI will be...this allows me to roll any excess contributions from 2018 forward to 2019 (the nice thing is that you can also do an annual rebalance within your Roth at this time)
Step 4: I can fill out my 2019 contributions up to $5,500 from what I was saving monthly
Step 5: re-adjust monthly set aside for Roth based on what's left

Gosh, this still looks like a pain. But it's really only making one Roth contribution per year, which sounds a lot simpler than the 17 I made for tax year 2017 ;-)
Title: Re: Race from $1M to $2M
Post by: LindseyS on April 12, 2018, 12:11:16 PM
I am mainly a lurker here at MMM, but I have been waiting for the day when I can post on this thread!  Our official networth is finally upwards of $1M at $1,003,225.49.   I am so proud of myself for making the decision to turn mine and my husbands financial lives around.  Strangely enough, the book that started me on this journey was Smart Money, Smart Kids by Dave Ramsey and his daughter.  I have no idea how long it will take us to reach $2M - my husband is a high income earner, but I am not, so it will most likely be years and years.  I am just so happy and feel so lucky to be here though!
Title: Re: Race from $1M to $2M
Post by: couponvan on April 12, 2018, 12:14:11 PM
I am mainly a lurker here at MMM, but I have been waiting for the day when I can post on this thread!  Our official networth is finally upwards of $1M at $1,003,225.49.   I am so proud of myself for making the decision to turn mine and my husbands financial lives around.  Strangely enough, the book that started me on this journey was Smart Money, Smart Kids by Dave Ramsey and his daughter.  I have no idea how long it will take us to reach $2M - my husband is a high income earner, but I am not, so it will most likely be years and years.  I am just so happy and feel so lucky to be here though!

Barring a major stock market correction, I predict you will cross the finish line of this race in under 7 years.
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on April 12, 2018, 03:14:11 PM
I am mainly a lurker here at MMM, but I have been waiting for the day when I can post on this thread!  Our official networth is finally upwards of $1M at $1,003,225.49.   I am so proud of myself for making the decision to turn mine and my husbands financial lives around.  Strangely enough, the book that started me on this journey was Smart Money, Smart Kids by Dave Ramsey and his daughter.  I have no idea how long it will take us to reach $2M - my husband is a high income earner, but I am not, so it will most likely be years and years.  I am just so happy and feel so lucky to be here though!

Awesome LindseyS !   
Just remember, you can only leave this thread in the upward direction (race 2M+ etc), even if there is a market correction/crash.    A major Antimustachian move will be forgiven if you repent and rejoin us :-).
Title: Re: Race from $1M to $2M
Post by: dougules on April 12, 2018, 03:45:55 PM
I am mainly a lurker here at MMM, but I have been waiting for the day when I can post on this thread!  Our official networth is finally upwards of $1M at $1,003,225.49.   I am so proud of myself for making the decision to turn mine and my husbands financial lives around.  Strangely enough, the book that started me on this journey was Smart Money, Smart Kids by Dave Ramsey and his daughter.  I have no idea how long it will take us to reach $2M - my husband is a high income earner, but I am not, so it will most likely be years and years.  I am just so happy and feel so lucky to be here though!

Awesome LindseyS !   
Just remember, you can only leave this thread in the upward direction (race 2M+ etc), even if there is a market correction/crash.    A major Antimustachian move will be forgiven if you repent and rejoin us :-).

You would likely get there in a decade-ish even if you didn't put in another dime. 
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on April 13, 2018, 08:46:10 PM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

At $1.36M  at end of 2017
NW increase of almost $180k without jobs. I'll take that for markets doing their magic

At $1.35M  at end of Q1 2017*. Down a little bit, but it's almost lost in the rounding error. That run up couldn't have lasted for ever, but given the previous years gains, I'll take it. We'll see how we keep doing without jobs.

*Being retired, not contributing anymore, and busy with travel and life, I am not being as good about updating our financials at regular intervals, so that Q1 is approximate. I was lazy and missed the end of the month/quarter.
Title: Re: Race from $1M to $2M
Post by: talltexan on April 17, 2018, 09:58:28 AM
Markets are having a big day today, but still more than 5% off their all-time highs (meaning there's time to get in).
Title: Re: Race from $1M to $2M
Post by: couponvan on April 17, 2018, 10:52:45 AM
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!
I guess I should be a bit more precise with my numbers....

12/31/17 - $1,518,400
03/31/18 - $1,578,900

Increase between 12/31 and 3/31 was mainly bonus related. The markets are wiggly this year.
Title: Re: Race from $1M to $2M
Post by: Dicey on April 18, 2018, 01:54:33 AM
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!
I guess I should be a bit more precise with my numbers....

12/31/17 - $1,518,400
03/31/18 - $1,578,900

Increase between 12/31 and 3/31 was mainly bonus related. The markets are wiggly this year.
Wow! That's a good-looking bonus!
Title: Re: Race from $1M to $2M
Post by: couponvan on April 18, 2018, 07:42:55 AM
Joining at the 1/2 way pit stop....$1.5 as of 12/31/17!
I guess I should be a bit more precise with my numbers....

12/31/17 - $1,518,400
03/31/18 - $1,578,900

Increase between 12/31 and 3/31 was mainly bonus related. The markets are wiggly this year.
Wow! That's a good-looking bonus!

Yeah - DH's bonus is up to 45% of his compensation for the year (in great years it can be 65%). It was a bad year this year, so the # was actually lower than in the past.  It's a big part of how we plan for FIRE - save the bonus, live on the lower salary.  It's also why he risks getting fired right before bonus payout days....
Title: Re: Race from $1M to $2M
Post by: Jenny1974 on April 18, 2018, 08:07:13 AM
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Title: Re: Race from $1M to $2M
Post by: couponvan on April 18, 2018, 08:25:57 AM
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Congrats!! You stay in the thread until you feel you've really reached the finish line.  :-).  Does $2MM feel more exciting than $1MM?
Title: Re: Race from $1M to $2M
Post by: Bateaux on April 18, 2018, 11:13:16 AM
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Congrats!! You stay in the thread until you feel you've really reached the finish line.  :-).  Does $2MM feel more exciting than $1MM?

We just tipped over the 2M liquid point a couple of months ago.   It's retracted a few times.  Personally I'm ready to put that milestone behind and move forward.  The 2M point is pretty much what I'm planning to benchmark as the low watermark for FIRE.   The goal is 2.5M then retire.  However, any dips below 2M would immediately call for emergency spending only measures and possibly job hunting.  Currently home shopping in Florida right now and will budget 300k to 400k for that.  That will have us working a two to five more years to pay down that debt.  Not sure what we do with current paid off home and property.  Selling it could bring 250k maybe more and would help offset the new home and work less years.  May just give it to our kids.  Time will tell.  By the way, the 1M mark excited me briefly.  Then realized that would barely pay for health care, the excitement faded.
Title: Re: Race from $1M to $2M
Post by: Jenny1974 on April 18, 2018, 11:35:38 AM
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Congrats!! You stay in the thread until you feel you've really reached the finish line.  :-).  Does $2MM feel more exciting than $1MM?

More like a "well, that's pretty cool" moment!
Title: Re: Race from $1M to $2M
Post by: couponvan on April 18, 2018, 12:02:22 PM
So I believe I briefly bounced over $2 million for a while before the market dropped.  Should I stay in this thread or move on??

Congrats!! You stay in the thread until you feel you've really reached the finish line.  :-).  Does $2MM feel more exciting than $1MM?

More like a "well, that's pretty cool" moment!

I'm with @Bateaux that I want $2.0M plus a paid off house ($400K-$500K ish range) and I have to have "crossed" that line for sure before I'm comfortable pulling back.  It's super cool you've hit that # even if it didn't stick.  I've got plenty of time in this race left before I get to where I'm aiming.
Title: Re: Race from $1M to $2M
Post by: ysette9 on April 19, 2018, 02:33:38 PM
This thread made me pull up some stuff and do some arithmetic. I just realized that if you include home equity (which I donít), then we crossed over the $2M mark recently. Since home equity doesnít pay my bills, i donít include it, but at least we can unequivocally say now that we are millionaires. :) Previously it wasnít certain since you could argue that with two people, the individual net worth is half of the total household net work.

It is embarrassing to be on this forum, report those numbers, and not be FI. HCOL for the win!
Title: Re: Race from $1M to $2M
Post by: MMMdude on April 28, 2018, 02:09:50 PM
I'm a Canuck so the recent malaisse has been worse for me as the Canadian index didn't do much of anything versus the huge S&P gains November to end of January.  So for about 7 months my net worth has decreased despite plowing in 75% of my income into investments.  Oh well it's all part of the process and this small blip is nothing compared to a true bear market.  I continue to hold steady in my 70/30 portfolio and hopefully can hit the $2M mark in about 6 years when I reach 48....currently around $1.2M.  I believe at $2M I will be good to never work again.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on May 03, 2018, 03:57:26 PM
I'm a Canuck so the recent malaisse has been worse for me as the Canadian index didn't do much of anything versus the huge S&P gains November to end of January.  So for about 7 months my net worth has decreased despite plowing in 75% of my income into investments.  Oh well it's all part of the process and this small blip is nothing compared to a true bear market.  I continue to hold steady in my 70/30 portfolio and hopefully can hit the $2M mark in about 6 years when I reach 48....currently around $1.2M.  I believe at $2M I will be good to never work again.

I have a feeling the malaise you're experiencing will be repeated in the US indices.
Title: Re: Race from $1M to $2M
Post by: Bateaux on May 03, 2018, 09:48:18 PM
We've entered into the horse latitudes.
Title: Re: Race from $1M to $2M
Post by: talltexan on May 04, 2018, 08:38:33 AM
TallTexan HH net worth has roughly doubled over the last five years. Surely it would be possible to add that much again over the next five, so that would be a 50% increase from where we are today.
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on May 04, 2018, 09:57:03 AM
6/30/17: 1.002 million, two months shy of my 35th birthday
1/17/18: 1.219 million, 4.5 months after my 35th birthday

Feels like this crazy market has put things into hyperdrive. Hoping I've got enough buffer to remain in the two comma club through the next correction, but who knows?

Total HH net worth now at 1.281. With the market down/sideways I've been throwing any and all cash I can scrounge into stocks. Even if there's still a ways down to go, I'm thinking I'll be happy I did over the long-term.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on May 18, 2018, 01:45:59 AM
Getting solidly into $1MM territory now...

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
Title: Re: Race from $1M to $2M
Post by: talltexan on May 21, 2018, 08:12:36 AM
It's nice when people call into Dave Ramsey's "Millionaire Hour" with lower net worths than you, ain't it?
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on May 22, 2018, 05:54:29 AM
It's nice when people call into Dave Ramsey's "Millionaire Hour" with lower net worths than you, ain't it?

And they are 10 or so years older.
Title: Re: Race from $1M to $2M
Post by: talltexan on May 23, 2018, 12:09:40 PM
One other thing I notice: home equity is pretty consistently 30% of net worth or less. No one calls in who is in a Bay-area paid-off home but has nothing in other investments.
Title: Re: Race from $1M to $2M
Post by: Bateaux on May 23, 2018, 06:58:40 PM
One other thing I notice: home equity is pretty consistently 30% of net worth or less. No one calls in who is in a Bay-area paid-off home but has nothing in other investments.

Unless you're really rich if the value of your home exceeds 25 percent of net worth I'd say you're house poor.
Title: Re: Race from $1M to $2M
Post by: rob in cal on May 24, 2018, 09:10:43 AM
  Decided to join this group instead of 500 to 1mm, as I like to go with NW. We are at about 430k home equity, 600k everything else.  That includes about 335 k in our Vanguard accounts, (mostly in S&P 500, some in a reit, a little in the Wellesley fund some of its a roth, rest taxable), 100k or so in restaurant we work at (share value is rough estimate) 42k is a loan owed to us, 120k is other IRA's.  There is a chance that we sell the house at some point and move to a smaller house or somewhere cheaper, so I like to count this in my stache.  Also, more fun to be in the millionaire thead. I think we got there last fall.
   I'm now 51, wife 48, daughter 21 in college (which she is primarily funding herself with a  little help coming from grandparents and some from cheapskate parents) son 17 graduating high school next week, no college plans right now.  I've been working as a pizza/pasta/sandwich delivery driver for 19 years, wife started working with me very part time 12 years ago. I now average about 30 hours a week, she 5-7.  Wife taught before our son was born, so has 5.2 years vested in CAL strs, the teacher retirement program, and is eligible for a very modest monthly pension at age 55 I believe. Our primary work income usually comes in somewhere in the 50k a year zone, and then we have a modest ownership income, and passive income from investments does the heavy lifting.
    Not sure when it will be time to declare FIRE. I did join the FIRE 2022 club. It has a nice ring to it. We probably won't be zooming along like some other posters on this thread as our active work income isn't huge and if anything is going down, but I figure being a NW millionaire should have some perks, one of which is to not be too concerned about some income shrinkage.  Actually our progress in this race might be more like a slow regional train in Italy that stops at every station, goes of on a siding for half an hour periodically while the express trains roar by.  I figure many of the high income posters qualify as the express trains.  For instance due to travel plans this summer and an upcoming paint job inside the house we haven't really added much new savings in several months, but again not a real reason to stress. 
Title: Re: Race from $1M to $2M
Post by: Bateaux on May 24, 2018, 01:21:21 PM
Welcome the two comma club Rob.  How you add it all up is your choice.  What's important is what it can do for you.  I only count liquid, but that's only because I'm too dumb to understand real estate.   I do buy into a REIT though.  Looking forward to your triumphs, rants and just general BS like the rest of us post.  Good luck.
Title: Re: Race from $1M to $2M
Post by: Candace on May 24, 2018, 01:26:11 PM
Welcome, rob in cal! Sounds like you and your wife have a lot to be proud of. Congratulations.
Title: Re: Race from $1M to $2M
Post by: Money Badger on June 03, 2018, 02:36:46 AM
Time to join in if $1.4M (including house equity) is OK... now working to a "Done in 2021" FIRE plan of $2M.   To Bateaux's point, in the process of downsizing house to balance the ratios out...   As both kids will be in college as of August, it's time to execute our plan to liquidate at a relatively high point in the housing market to get us from just about 50% in the "big" house we bought near the real estate market low down to less than 30%.   Increasing passive income and equity growth to achieve FI "escape velocity" from there.   It's now all about getting the house equity/liquid investments/passive income ratios right to make FI sustainable.
Title: Re: Race from $1M to $2M
Post by: Dicey on June 03, 2018, 08:22:52 AM
Unless you're really rich if the value of your home exceeds 25 percent of net worth I'd say you're house poor.
Interesting point,  but here's another way to look at it. Let's say a person lives in the Bay Area and their paid-for house is worth $1.5M. Their other assets add up to around $1.5M. That's 50%. Does that really make them house poor? $3M TNW is not "really rich" by Bay Area standards. To be sure, it's comfortable, but it is neither really rich nor house poor.
Title: Re: Race from $1M to $2M
Post by: Bateaux on June 04, 2018, 07:17:27 AM
Unless you're really rich if the value of your home exceeds 25 percent of net worth I'd say you're house poor.
Interesting point,  but here's another way to look at it. Let's say a person lives in the Bay Area and their paid-for house is worth $1.5M. Their other assets add up to around $1.5M. That's 50%. Does that really make them house poor? $3M TNW is not "really rich" by Bay Area standards. To be sure, it's comfortable, but it is neither really rich nor house poor.

California definitely throws my logic a bit.   There is a threshold where it's true.    I like for the house to be in 10 to 15 percent range of net worth.  The house we're buying in Florida is only 250k so I'm personally trying to keep it low.
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on June 04, 2018, 08:40:11 AM
Hmm,  I'm at 22% right now and I feel no where close to being house poor.  If I decided to go to my max budget for some additional exterior (landscaping) work over the next year or so I'll be just above that 25%.  Again with not feeling house poor at all.

I have to admit, I'm still shaking my head at the upward trajectory.  There wasn't a surface I didn't touch in my house last year and a new furnace and I'm up to $1.4M with 1.2M of that invested. 

I just switched my 401k to the ROTH option to avoid future RMDs, waiting and converting isn't as tax friendly as I'll have a pension that will take up most of the 22% and lower tax brackets so I figured I might as well start "converting" now.
Title: Re: Race from $1M to $2M
Post by: Crabbie on June 04, 2018, 10:37:25 AM
Will throw my hat in here. This is value of portfolio + rental property.

2018/06/01 - 1442000
Title: Re: Race from $1M to $2M
Post by: rob in cal on June 04, 2018, 10:55:26 AM
  We are somewhere around 43% of home equity as share of total assets, at about 440 house, 600k everything else.  Would like to get that number in the 30's in the next couple of years.  Yet another California impacted case.
Title: Re: Race from $1M to $2M
Post by: itchyfeet on June 06, 2018, 12:06:46 PM

Perhaps the thing is that in that ~$1MM space you can see all the things you can't afford with the money, and it feels limited - you are making tradeoffs. If I do x then I can't do y. But I am still able to do x, and not everyone could so easily. And we feel like if we were actually rich, we wouldn't need to make those decisions? OTOH, how can I be rich when my sister & her husband (dr, lawyer) are taking their 5 kids to Italy for a month this year? I "couldn't" do that.  But we're going to NZ again in the fall, and loads of people would say that is only possible if we are rich.

Are you and your sister rich or just spending a lot 😜
Always dangerous to gauge the wealth of someone by what they spend.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on June 06, 2018, 10:38:34 PM
19 days since the last update, and somehow I'm up by another $53K. Wow!

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
Title: Re: Race from $1M to $2M
Post by: Bateaux on June 07, 2018, 06:23:31 AM
19 days since the last update, and somehow I'm up by another $53K. Wow!

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63

Dude.  Incredible increases.
Title: Re: Race from $1M to $2M
Post by: talltexan on June 08, 2018, 11:18:53 AM
Herbert, you have a nice savings rate to gain nearly half a mill over the past year, investing alone couldn't do that without a ton of risk.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on June 08, 2018, 06:58:01 PM
Yea, I spend about $6,000 / year and my savings rate is over 95%. It helps a lot!
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on June 09, 2018, 07:07:59 PM
Yea, I spend about $6,000 / year and my savings rate is over 95%. It helps a lot!

What job enables you to earn $300,000 a year or more?
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on June 11, 2018, 11:53:09 PM
What job enables you to earn $300,000 a year or more?

A good one? All kidding aside, I don't share the specifics of my employment on this forum.
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on June 12, 2018, 07:16:54 AM
I was putzing around on Personal Capital this morning and discovered I now only have 49.5% of my investments in my 401k.  I'm stoked because I have always maxed out my 401k plus the 5% employer match since 2001 but didn't start other things (IRA than taxable) until at least 2 years later and I really didn't have anything outside of the IRA either until the last 5 or 6 years.
Title: Re: Race from $1M to $2M
Post by: Crabbie on June 12, 2018, 09:36:50 AM
Yea, I spend about $6,000 / year and my savings rate is over 95%. It helps a lot!

What job enables you to earn $300,000 a year or more?

$300k (and well beyond it) isn't unreasonable for a very good software engineer.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on June 12, 2018, 08:13:11 PM
Yea, I spend about $6,000 / year and my savings rate is over 95%. It helps a lot!

What job enables you to earn $300,000 a year or more?

$300k (and well beyond it) isn't unreasonable for a very good software engineer.


Also a physician with a specialty like surgery, radiology, dermatology. - Ok but you'd have to be at least 28 or more before you'd start making that much, so we can nix out being an MD.


Also, maybe an Artificial Intelligence engineer.
Title: Re: Race from $1M to $2M
Post by: hamsterman on June 12, 2018, 09:21:02 PM
What job enables you to earn $300,000 a year or more?

$300k (and well beyond it) isn't unreasonable for a very good software engineer.


Also a physician with a specialty like surgery, radiology, dermatology. - Ok but you'd have to be at least 28 or more before you'd start making that much, so we can nix out being an MD.


Also, maybe an Artificial Intelligence engineer.

Lawyers and investment bankers can also make that much money. Also athletes, actors, YouTube stars, etc
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on June 12, 2018, 09:38:47 PM
Lawyers and investment bankers can also make that much money. Also athletes, actors, YouTube stars, etc
My friend's son was picked up by the San Francisco 49ers a month or two ago when the NFL draft was going on.  The son wasn't drafted but had enough talent for the 49ers to give him a try.  The agent representing the son negotiated a starting salary of $500K a year and a 4-year contract.  The agent gets a percentage of that salary, of course.  Not a bad salary for being an unseasoned athlete!
Title: Re: Race from $1M to $2M
Post by: Car Jack on June 13, 2018, 07:08:27 AM

Lawyers and investment bankers can also make that much money. Also athletes, actors, YouTube stars, etc

*some* lawyers....sure.

The car salesman who helped me yesterday was a lawyer who left his job to make more money selling cars.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on June 13, 2018, 07:25:51 AM

Lawyers and investment bankers can also make that much money. Also athletes, actors, YouTube stars, etc

*some* lawyers....sure.

The car salesman who helped me yesterday was a lawyer who left his job to make more money selling cars.

I'd say your average professional athlete (think minor league baseball), actor (bartender), or YouTube star would also be far better off selling cars. 

No, I've got Herbert pegged as some sort of criminal kingpin.  Perhaps he runs a vast underground gambling empire.   
Title: Re: Race from $1M to $2M
Post by: Crabbie on June 13, 2018, 11:20:52 AM
Yea, I spend about $6,000 / year and my savings rate is over 95%. It helps a lot!

What job enables you to earn $300,000 a year or more?

$300k (and well beyond it) isn't unreasonable for a very good software engineer.


Also a physician with a specialty like surgery, radiology, dermatology. - Ok but you'd have to be at least 28 or more before you'd start making that much, so we can nix out being an MD.


Also, maybe an Artificial Intelligence engineer.

Not just the AI people, although they ARE in demand. Getting $300k or more from one of the big tech companies isn't particularly uncommon.
Title: Re: Race from $1M to $2M
Post by: snapperdude on June 13, 2018, 02:58:33 PM

Lawyers and investment bankers can also make that much money. Also athletes, actors, YouTube stars, etc

*some* lawyers....sure.

The car salesman who helped me yesterday was a lawyer who left his job to make more money selling cars.

I'd say your average professional athlete (think minor league baseball), actor (bartender), or YouTube star would also be far better off selling cars. 

No, I've got Herbert pegged as some sort of criminal kingpin.  Perhaps he runs a vast underground gambling empire.

Herbert Derp, Male Prost... Escort
Title: Re: Race from $1M to $2M
Post by: couponvan on June 13, 2018, 07:12:43 PM
I just canít fathom the $6k spend....earnings are easy, spending limits on those earnings  - not so much. Unless there is a housing allowance involved and taxes are already incorporated.

Expat consultant. Itís my 4 year plan for Bermuda.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on June 13, 2018, 09:23:47 PM
I just canít fathom the $6k spend....earnings are easy, spending limits on those earnings  - not so much. Unless there is a housing allowance involved and taxes are already incorporated.

Actually, I live downtown in a HCOL city. I own a condo which is paid in full, so that's how I'm able to minimize my housing and transportation costs (no car, I can walk everywhere). I include property taxes in my spending but not income taxes (of which I pay a LOT).

If you guys are so interested in me, read my journal! I've been posting for years.
https://forum.mrmoneymustache.com/journals/herbert-derp's-frugal-adventures/
Title: Re: Race from $1M to $2M
Post by: couponvan on June 14, 2018, 06:56:32 AM
I just canít fathom the $6k spend....earnings are easy, spending limits on those earnings  - not so much. Unless there is a housing allowance involved and taxes are already incorporated.

Actually, I live downtown in a HCOL city. I own a condo which is paid in full, so that's how I'm able to minimize my housing and transportation costs (no car, I can walk everywhere). I include property taxes in my spending but not income taxes (of which I pay a LOT).

If you guys are so interested in me, read my journal! I've been posting for years.
https://forum.mrmoneymustache.com/journals/herbert-derp's-frugal-adventures/

I didn't actually look at your profile - the 27 and single now makes more sense on the spending limits and the condo you own has very low taxes...Our taxes in IL are $10,000 on a $450,000 house and 5 of us live in there. $30,000 spending for 5 would still be super low.  I may browse your journal over the weekend.
Title: Re: Race from $1M to $2M
Post by: Phryne on June 20, 2018, 01:26:50 AM
Hi All,

Iím ready to join this thread! Our NW (excluding home equity of ~$500k) hit $1.004m yesterday!

Weíre aiming for $1.4m & a paid off house to retire in Oct 2023... reaching that magical number makes it feel so much more achievable!
Title: Re: Race from $1M to $2M
Post by: Bateaux on June 20, 2018, 09:30:19 PM
Hi All,

Iím ready to join this thread! Our NW (excluding home equity of ~$500k) hit $1.004m yesterday!

Weíre aiming for $1.4m & a paid off house to retire in Oct 2023... reaching that magical number makes it feel so much more achievable!

Great job!   Congratulations.
Title: Re: Race from $1M to $2M
Post by: talltexan on June 27, 2018, 11:33:05 AM
Hi All,

Iím ready to join this thread! Our NW (excluding home equity of ~$500k) hit $1.004m yesterday!

Weíre aiming for $1.4m & a paid off house to retire in Oct 2023... reaching that magical number makes it feel so much more achievable!

CONGRATULATIONS!

Just having this online group made such a difference. There wasn't really anyone in real life with whom I could celebrate crossing into double-commas.
Title: Re: Race from $1M to $2M
Post by: Phryne on June 28, 2018, 03:34:42 AM
Thanks Guys!
So true, I really appreciate the support in this little corner of the internet!
Title: Re: Race from $1M to $2M
Post by: letsdoit on June 29, 2018, 10:47:00 AM
Neither of you have umbrella insurance?

And you have a rental property, Frank!

Aggghhh.

Go. Run. Today. Get some umbrella insurance. :)

Way reduce the risk and worry from that "unless we get sued" idea you mentioned.

I'm glad this seems to be consensus.  we don't have rentals and have a lot less than 1mill, but I started carrying it anyway.  bc it would be easy to be sued, or plausible
Title: Re: Race from $1M to $2M
Post by: ysette9 on June 30, 2018, 04:19:00 PM
Agreed. We got an umbrella policy when our assets started approaching the $1M mark. I was surprised at how cheap it was. A year or two ago I upped the umbrella coverage to $2M and again, was struck by how little additional it cost, especially once I made sure our deductibles were appropriately high.
Title: Re: Race from $1M to $2M
Post by: Roboturner on July 05, 2018, 12:23:40 PM
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
Title: Re: Race from $1M to $2M
Post by: Crabbie on July 06, 2018, 10:35:01 AM
Will throw my hat in here. This is value of portfolio + rental property.

2018/06/01 - 1442000

2018/06/01 - 1442000
2018/07/01 - 1460000
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 06, 2018, 04:29:38 PM
Q2 2018:
LNW: 1.16 MM
TNW: 1.45 MM
What do the 'LNW' and 'TNW' stand for?
Title: Re: Race from $1M to $2M
Post by: Arbitrage on July 06, 2018, 08:08:19 PM
Q2 2018:
LNW: 1.16 MM
TNW: 1.45 MM
What do the 'LNW' and 'TNW' stand for?

Not the poster you're asking of, but pretty sure those are "Liquid Net Worth" and "Total Net Worth."
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 07, 2018, 07:25:03 AM
...pretty sure those are "Liquid Net Worth" and "Total Net Worth."
Ah! That makes a lot of sense.  Thanks.
Title: Re: Race from $1M to $2M
Post by: Roboturner on July 09, 2018, 11:57:42 AM
yup!

cash & stocks vs. home equity
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 09, 2018, 05:36:03 PM
Reached the $1.5 million mark today!  It took awhile with all the market volatility, but today's market surge put me over the plateau.
Title: Re: Race from $1M to $2M
Post by: AccidentalMiser on July 10, 2018, 06:38:42 AM
Hello!  This morning, we hit 1,001,996 net worth.  While I recognize we may never make it to 2M, weíre determined to continue the good habits that have gotten us this far: simplicity, frugality and thankfulness.

Itís been a great ride so far and they say the first million is the hardest so Iím really looking forward to making this journey with the members of this great community!
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 10, 2018, 07:23:58 PM
Hello!  This morning, we hit 1,001,996 net worth.  While I recognize we may never make it to 2M, weíre determined to continue the good habits that have gotten us this far: simplicity, frugality and thankfulness.

Itís been a great ride so far and they say the first million is the hardest so Iím really looking forward to making this journey with the members of this great community!
Welcome to the club!  It's true that the first million takes the longest and is the hardest.  You'll be pleasantly surprised at how fast the amount grows from there.  In my case, it took 17 years to crack the 6-digit mark.  But since making that mark it only took two years for my stash to grow another $500K.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on July 11, 2018, 11:36:43 PM
Continuing to make progress...

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
Title: Re: Race from $1M to $2M
Post by: gpyros85 on July 12, 2018, 12:03:22 AM
Continuing to make progress...

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26


Please explain more!
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on July 12, 2018, 01:09:04 AM
Please explain more!

Read my journal!

https://forum.mrmoneymustache.com/journals/herbert-derp's-frugal-adventures/
Title: Re: Race from $1M to $2M
Post by: Cache_Stash on July 16, 2018, 11:36:20 AM
Well, I hit an intraday high of 1,000,000 today in investable passive assets.  Didnít want to join the club until I hit that number.  I have 600K in real estate for a total of a 1.6M.

Fireíd last year in August.
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on July 16, 2018, 06:21:36 PM
Well, I hit an intraday high of 1,000,000 today in investable passive assets.  Didnít want to join the club until I hit that number.  I have 600K in real estate for a total of a 1.6M.

Fireíd last year in August.

Welcome to the club Cash Stash! Intraday is valid too!

  I just FIRED  on June 1st.

Backstory: Cash Stash and I once worked for the same SemiBigCorp.

Cash Stash, the space in your username makes it difficult to include a paging link like @markbike528CBX
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on July 16, 2018, 07:36:58 PM
Did you two know each other at the company ?
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on July 17, 2018, 10:11:13 AM
Did you two know each other at the company ?

Nope, separate sides of the continent and of SemiBigCorp. At the time of bankruptcy, "restructuring" I saw a post from Cash Stash that described situation and announcement timing that was too close to being coincidental.   A few PM's later we determined that we where in the same SemiBigCorp.
Title: Re: Race from $1M to $2M
Post by: talltexan on July 18, 2018, 08:02:33 AM
Great that you guys were able to find each other on the Millionaire's thread! I couldn't imagine how my co-workers would treat me if they knew I was wealthy enough to be here.
Title: Re: Race from $1M to $2M
Post by: sisto on July 18, 2018, 08:39:19 AM
I've been here for a while now NW wise, but still really pushing to hit the $1M with just cash and investments. I've been sitting around $950K for what seems like forever.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 18, 2018, 06:54:21 PM
I've been here for a while now NW wise, but still really pushing to hit the $1M with just cash and investments. I've been sitting around $950K for what seems like forever.
You'll hit your break-out day soon.
Title: Re: Race from $1M to $2M
Post by: AccidentalMiser on July 18, 2018, 08:20:15 PM
I couldn't imagine how my co-workers would treat me if they knew I was wealthy enough to be here.

Yup.  I was so excited last week (Iíve been a millionaire for over a week!) but I couldnít tell anyone I actually know (DW excepted, of course).  What a wonderful problem to have!
Title: Re: Race from $1M to $2M
Post by: talltexan on July 24, 2018, 08:17:53 AM
I'm trying to not even make a big deal about it with Mrs. TallTexan, because I don't want her to loosen up on the spending thing.
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on July 26, 2018, 07:18:08 AM
The nice market run this month (and capped off with yesterday's surge) pushed TNW over $1.7MM.  LNW is knocking on the door of $1.4MM.

I'm not sure why I still pay attention to $100k increments as though they are meaningful milestones...but I do!
Title: Re: Race from $1M to $2M
Post by: Car Jack on July 26, 2018, 08:56:34 AM
$100k increments are easy to keep track of at this point.  Keeping $1.4M LNW in your head is easy, then one day, you're updating your spreadsheet and find the number move to $1,500,010 and feel like you've clicked over the next milestone.

I certainly do this.
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on July 26, 2018, 10:09:45 AM
Yeah, I guess $100k increments represent reasonable mini-milestones.

If you're a 4% SWR kind of person, $100k represents an additional $4k/yr spending.  It's a little easier for me to think of annual spending in $5k chunks, so maybe I should make my milestones $125k instead...or just become a 5% SWR person.  :D
Title: Re: Race from $1M to $2M
Post by: FireLane on July 26, 2018, 12:20:15 PM
My LNW just inched up to $1.25M. The uptick in the market this month definitely helped.

I decided a while ago that this was my official FI number. If Mrs. FL and I were willing to accept some significant lifestyle changes, we could live indefinitely on this amount. So that's nice to know. To live indefinitely at our current lifestyle will take a bit more, so I'm still working for now. Plus, it's a good idea to have a buffer against health care insanity, high market valuations and any other black swans we haven't thought of. Maybe I'll RE before $2M, maybe not.

How's everyone else doing?
Title: Re: Race from $1M to $2M
Post by: begood on July 26, 2018, 01:26:07 PM
I feel dumbÖ what does LNW mean?
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on July 26, 2018, 02:03:58 PM
I feel dumbÖ what does LNW mean?

LNW == Liquid Net Worth (investments, savings, retirement acounts, etc.)
TNW == Total Net Worth (LNW + home equity, business equity, and other assets that aren't easily converted to cash very quickly)
Title: Re: Race from $1M to $2M
Post by: begood on July 26, 2018, 02:10:59 PM
I feel dumbÖ what does LNW mean?

LNW == Liquid Net Worth (investments, savings, retirement acounts, etc.)
TNW == Total Net Worth (LNW + home equity, business equity, and other assets that aren't easily converted to cash very quickly)

TYK for the explanation of LNW! :)
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on July 26, 2018, 02:35:45 PM
TYK for the explanation of LNW! :)

NP!  :P

I decided a while ago that this was my official FI number. If Mrs. FL and I were willing to accept some significant lifestyle changes, we could live indefinitely on this amount. So that's nice to know. To live indefinitely at our current lifestyle will take a bit more, so I'm still working for now. Plus, it's a good idea to have a buffer against health care insanity, high market valuations and any other black swans we haven't thought of. Maybe I'll RE before $2M, maybe not.

We're in a similar boat.  We came up with a barebones FI number based on the average of certain essential expenses over the past few years.  We recently reached 4% of that figure in our retirement + savings accounts.  Like you, we'd have to make some pretty big lifestyle adjustments to make it happen.  But it is comforting to know that we've reached that level.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 26, 2018, 07:22:47 PM
I'm not sure why I still pay attention to $100k increments as though they are meaningful milestones...but I do!

$100k increments are easy to keep track of at this point.  Keeping $1.4M LNW in your head is easy, then one day, you're updating your spreadsheet and find the number move to $1,500,010 and feel like you've clicked over the next milestone.

I certainly do this.
This is what I do too.
Title: Re: Race from $1M to $2M
Post by: bgfoot on July 27, 2018, 10:43:49 AM
First time posting but followed for about a year. Joining the club. Total assets excluding real estate 1.26
Split 40% taxable and 60% tax deferred. Mostly Vanguard for mutual funds. Also own a few stocks through dividend reinvestment plans
Title: Re: Race from $1M to $2M
Post by: jengod on July 31, 2018, 01:34:09 AM
hello! posting to follow.
just checked our spreadsheet:

liquid net worth: $1.72m
total net worth: $2.85m

the house is paid off but we plan to live in it for the foreseeable future.
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on July 31, 2018, 05:48:17 AM
Add me to the Minimal FI but still working due to the US health care situation.  If I stick around to my minimal retirement age at my current job (47 so it's actually not a bad number), I get to keep subsidized health care for life.  There has been some congressional grumbling to change this and if it does I'm gone but it's too big of a carrot not to stay working for at this point.
Title: Re: Race from $1M to $2M
Post by: MishMash on July 31, 2018, 08:25:00 AM
I'll join in too, our number is 2 million (not including DHs pension).  Stupid high for this forum, I know, DH still isn't 100% on the frugality thing, and we plan on living in a HCOL area.  DH also has to do 5 more years to secure the lifelong health care and pension sooo why not continue to build the stash.

33 (me) and 36 (DH) here TNW 1.34 Investable 1.21

And before anyone asks, we don't include DHs pension in the calculations because if he gets booted prior to his 20 year mark he gets zip, nada, nilch.  So until he hits that 20 year mark we have chosen to not include it in NW or income calculations since it is not a sure thing.

August 2018 TNW 1.83 1.6 investable.  And I quit my job a year ago. 
Title: Re: Race from $1M to $2M
Post by: Roboturner on August 01, 2018, 12:29:20 PM
SO and I officially hit our FI number (2 mos ahead of schedule!)

just have to work on the RE part now...

Golden handcuffs and fluff require probably another 2 yrs. Minimal heartache for maximum earning, so I think we can hack it. 
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on August 03, 2018, 12:27:51 AM
Onwards and upwards! Up $300K so far in 2018!

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on August 03, 2018, 06:50:40 AM
SO and I officially hit our FI number (2 mos ahead of schedule!)

just have to work on the RE part now...

Golden handcuffs and fluff require probably another 2 yrs. Minimal heartache for maximum earning, so I think we can hack it.

That's awesome, congrats!

What kind of golden handcuffs are we dealing with here?
Title: Re: Race from $1M to $2M
Post by: Cache_Stash on August 03, 2018, 01:16:48 PM
Well, I hit an intraday high of 1,000,000 today in investable passive assets.  Didnít want to join the club until I hit that number.  I have 600K in real estate for a total of a 1.6M.

Fireíd last year in August.

Welcome to the club Cash Stash! Intraday is valid too!

  I just FIRED  on June 1st.

Backstory: Cash Stash and I once worked for the same SemiBigCorp.

Cash Stash, the space in your username makes it difficult to include a paging link like @markbike528CBX

Thatís awesome you finally Fired!  It has taken some time to adjust and decompress.  Now when I go for a drive in my truck mid week and I see all those commuters, I get a pretty good feeling about freedom.  Itís pretty nice.  I also shop for groceries in the morning on work days and the stores are empty.  Itís definitely different in subtle ways.
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on August 03, 2018, 03:39:12 PM
Well, I hit an intraday high of 1,000,000 today in investable passive assets.  Didnít want to join the club until I hit that number.  I have 600K in real estate for a total of a 1.6M.

Fireíd last year in August.

Welcome to the club Cash Stash! Intraday is valid too!

  I just FIRED  on June 1st.

Backstory: Cash Stash and I once worked for the same SemiBigCorp.

Cash Stash, the space in your username makes it difficult to include a paging link like @markbike528CBX

Thatís awesome you finally Fired!  It has taken some time to adjust and decompress.  Now when I go for a drive in my truck mid week and I see all those commuters, I get a pretty good feeling about freedom.  Itís pretty nice.  I also shop for groceries in the morning on work days and the stores are empty.  Itís definitely different in subtle ways.

I have always been taken back by the number of people out on workdays, it bothers me a lot less now that I'm not stuck in a cubical or a " big rebar/concrete building ".

Also, NW definitely includes Real Estate, especially above and beyond the primary residence.
Title: Re: Race from $1M to $2M
Post by: DesireeD on August 10, 2018, 05:49:31 PM
In the real world I have no one other than my SO to talk about our millionaire status. Certainly not my relatives, who would stick their hands out, or my friends. Never dreamed I would be here. I guess itís true that itís lonely at the top. Thanks for existing.
Even here among my fellow millionaires, I canít bring myself to disclose my wealth. I have I deep sense is shame that I donít deserve this wealth, even though Iíve worked and saved hard for it. People are always trying to ďhelp me outĒ with free or discounted things/services because I appear very poor. I fix most things on my own old clunker of a car myself, but I didnít feel up to dropping the tranny to change out the clutch. I found a good ol boy who had a home garage to do it for me. He did a great job, but only wanted to charge me a tiny sum. Iím sure he felt like he was doing a good deed for a super poor person and keeping her sad car on the road. I paid him an extra 100.$
People are always trying to give me charity! I hate it. I donít want to change from my stealth wealth lifestyle. Anyone else look super poor? How to you deal with being a charity case.
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on August 10, 2018, 06:07:48 PM
In the real world I have no one other than my SO to talk about our millionaire status. Certainly not my relatives, who would stick their hands out, or my friends. Never dreamed I would be here. I guess itís true that itís lonely at the top. Thanks for existing.
Even here among my fellow millionaires, I canít bring myself to disclose my wealth. I have I deep sense is shame that I donít deserve this wealth, even though Iíve worked and saved hard for it. People are always trying to ďhelp me outĒ with free or discounted things/services because I appear very poor. I fix most things on my own old clunker of a car myself, but I didnít feel up to dropping the tranny to change out the clutch. I found a good ol boy who had a home garage to do it for me. He did a great job, but only wanted to charge me a tiny sum. Iím sure he felt like he was doing a good deed for a super poor person and keeping her sad car on the road. I paid him an extra 100.$
People are always trying to give me charity! I hate it. I donít want to change from my stealth wealth lifestyle. Anyone else look super poor? How to you deal with being a charity case.

If you feel bad about it and can't convince the seller/service provider to accept more money, maybe donate the difference to charity.  I'm a bit too stingy to do this regularly, but I just signed myself up to servitude for a charity function.    ---- kinda pay it forward?
Title: Re: Race from $1M to $2M
Post by: DesireeD on August 10, 2018, 06:23:21 PM
I do that. I feel like Iím misappropriating poor culture. Is that a thing? I was raised dirt poor. I spent a dozen years working for a homeless shelter. I know poor. Iím not poor, I canít let people know Iím not poor, and I donít want charity. I just enjoy the poor lifestyle. Guess Iím a poor poser.
Title: Re: Race from $1M to $2M
Post by: Timmm on August 11, 2018, 12:57:01 PM
I convert gift money to charity donations. No more quibbling with relatives who feel obligated to send checks as gifts. Even better, I pick ones they'd be HORRIFIED to support, even indirectly.

Title: Re: Race from $1M to $2M
Post by: CoffeeAndDonuts on August 21, 2018, 07:44:06 PM
Wahoo!!! We were nearly to $1m liquid when we made a large donation in Dec 2017 to our Donor Advised Fund. We almost crossed again and then the market correction earlier this year. Since then we've been bouncing around, trending up, slowly. Today we were at $980'ish and the wire for the sale of our old home came through blasting clear through to nearly $1.25m and a networth around $1.35m. We chose to use our new home purchase as an opportunity to bump the mortgage balance up in Dec 2017 so home equity is pretty meager but liquid assets are way up.

For reference, my net worth measure had me crossing $1m back in March 2017. Good run.

It's going to busy through the end of the year.

I'll be moving the funds into equities pretty quickly but will admit that a short period of dollar cost averaging into the market makes investing so much go down a bit more easily. That said, I want to get a large portion in before November so it's staged for Dec 2019 tax maneuvers (e.g. tax loss/gain harvesting, charity, etc).

Super excited to be here! Not many people left in real life I can share with!
Title: Re: Race from $1M to $2M
Post by: Dicey on August 22, 2018, 07:09:56 AM
Welcome @CoffeeAndDonuts!
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on August 22, 2018, 09:40:09 AM
Super excited to be here! Not many people left in real life I can share with!
Welcome aboard, CoffeeAndDonuts!!
Title: Re: Race from $1M to $2M
Post by: CoffeeAndDonuts on August 22, 2018, 10:12:08 PM
Thanks @Cornbread OMalley and @Dicey!

Reading this thread and the forums at large, I usually find myself thinking there's little to say that's not been said even better already. Even our story feels pretty stereotypical for this community.

Mostly I'm just really grateful and surprised to find us here. And it's not really worn off for me despite my own conservative measure crossing $1m nearly a year and a half ago. This was just the last meaningful crossing of $1m for us.

Chatted with my sister this evening (not about this) and was saddened to hear she'd run up a bit of credit card debt of late and was stressing about plane tickets for the holidays. I'll find a way to help that doesn't make her feel awkward (I hope). She's mostly doing things right but is in a very different life situation.

Reminded me that despite the hard work getting here theres no small bit of luck for us as well.
Title: Re: Race from $1M to $2M
Post by: catccc on August 30, 2018, 07:41:36 AM
I'm happy to be joining this race!

We hit $1M on Aug 9, 2018 (and then again on Aug 21, 2018).  Our spending is just shy of $60K a year, (but I'm working on that) and we don't plan on having any other income or side gigs in FIRE, so our stash needs to continue to grow.  I'll consider pulling the plug at $1.5M, so even though this is a race to $2M, and I do hope for (or expect) continued growth after FIRE, my next goal is to hit $1.5.

Aug 30 2018 - $1.01

No real estate, but $93K is the kids' 529s.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on August 30, 2018, 07:54:38 AM
Welcome aboard, catccc! 
Title: Re: Race from $1M to $2M
Post by: CoffeeAndDonuts on August 30, 2018, 08:59:22 PM
Hey @catccc! Congrats! We too are struggling to bring spend below $60k though that includes $24k of piti mortgage. I just don't see us getting below $35k spend excl piti but including healthcare.

Nonetheless, $1.5 is a target that works for us as an initial launch. Since we've not paid off outlr home, I'm hoping for more like $1.75 of so. $2 would be great.

I am just waiting for final Month end numbers but am projecting around $1.35m nw with $1.2 invested/liquid.

In a month, I expect to shift an illiquid asset to one of that finally feel like justifies valuing which will add another $250k nw.

Blamo, $1.5m invested, $1.7m nw and my head exploding.

A lot has been asset conversion from things I didn't valu to those I did but still, my head is spinning these days how fast it all came on!

Title: Re: Race from $1M to $2M
Post by: Herbert Derp on September 01, 2018, 12:58:12 PM
More progress! This month, I've finally become a millionaire in liquid assets--my condo is worth about $290K.

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
Title: Re: Race from $1M to $2M
Post by: catccc on September 04, 2018, 12:37:07 PM
Welcome aboard, catccc!
Thanks, so excited to be here!

Hey @catccc! Congrats! We too are struggling to bring spend below $60k though that includes $24k of piti mortgage. I just don't see us getting below $35k spend excl piti but including healthcare.

Nonetheless, $1.5 is a target that works for us as an initial launch. Since we've not paid off outlr home, I'm hoping for more like $1.75 of so. $2 would be great.

I am just waiting for final Month end numbers but am projecting around $1.35m nw with $1.2 invested/liquid.

In a month, I expect to shift an illiquid asset to one of that finally feel like justifies valuing which will add another $250k nw.

Blamo, $1.5m invested, $1.7m nw and my head exploding.

A lot has been asset conversion from things I didn't valu to those I did but still, my head is spinning these days how fast it all came on!

Well, it looks like I'm not the only one for whom frugal doesn't mean spending only $25K/year.  For our near $60K, I can even tell you where it all goes, but I can't really see cutting these expenses very dramatically.  Our rent is $16,800/yr, so our spending outside of housing must be even higher than yours, unfortunately.  One thing to note is that we spent over $7K on travel last year, something we could drop if needed.  But we like to travel, it's something we value.  (And yes, we do some travel hacking.  It has saved us a lot, without it that travel number might be $5K more.  In 2017, points covered 2 r/t flights to hawaii, 4 r/t transcontinental flights during the holidays, a few hotel nights, and a week of car rental.)
Title: Re: Race from $1M to $2M
Post by: omachi on September 04, 2018, 01:49:35 PM
I thought I'd join. I don't really plan to finish the race except by inflation adjusted means, but I did just hit $1M in retirement assets. I hit $1M in net worth a couple years ago, but that seems like cheating; I need somewhere to live and that's not going to be generating retirement revenue.
Title: Re: Race from $1M to $2M
Post by: AccidentalMiser on September 04, 2018, 06:23:56 PM
Hello!  This morning, we hit 1,001,996 net worth.  While I recognize we may never make it to 2M, weíre determined to continue the good habits that have gotten us this far: simplicity, frugality and thankfulness.

Itís been a great ride so far and they say the first million is the hardest so Iím really looking forward to making this journey with the members of this great community!

Update...
1,030,000
Title: Re: Race from $1M to $2M
Post by: oldtoyota on September 14, 2018, 07:14:54 AM
Could someone share why it is easier/faster to make the second million and how long it takes?

I know this has been discussed on the forum before, yet my searches are not turning up the answer.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on September 14, 2018, 07:28:50 AM
Could someone share why it is easier/faster to make the second million and how long it takes?

I know this has been discussed on the forum before, yet my searches are not turning up the answer.

The market has returned about 16% in the last 12 months.  If you started with 100K a year ago, that means you would have 116K today. That's a 16K increase.  It compounds from there year after year. 

But if you already had 1M a year ago, it has increased by 160K.  That's 10x in pure dollar amounts over the same time. 

No one knows how long it will take because we can't predict the real returns from the market, but since you have more to start with it increases faster - not as a percentage but as a number.   

A hypothetical 100K would double at the same time as your 1M, but that wasn't the question.  Double 100K is 200K and double 1M is 2M.  Same time for that doubling, but in one case it is a lot more money. 
Title: Re: Race from $1M to $2M
Post by: Dicey on September 14, 2018, 08:03:20 AM
^ That's an excellent explanation. ^

My old boss used to say percentages don't buy groceries, dollars do.
Title: Re: Race from $1M to $2M
Post by: PathtoFIRE on September 14, 2018, 09:03:50 AM
Could someone share why it is easier/faster to make the second million and how long it takes?

I know this has been discussed on the forum before, yet my searches are not turning up the answer.

I like to use a sail analogy to explain. You and I are both sitting in boats in the same waters, and we both hoist up our sails, but I've got a whole lot more sail than you do. Maybe there's no wind, and neither of us go anywhere anytime soon. But once the wind starts blowing, I'm going to pick up a lot more speed than you are. I was just looking at my spreadsheets, and realized I've had several months this year with gains of around $30k, whereas at the very start a while back, $30k were my total gains for a so-so year (net worth is about 5x now what it was then). The reverse is true, the more you have, the more you lose (in absolute terms only), but we know the markets return a net positive over a long enough time period, and even if you start with $100k today and I have $1000k, and we both see a 10% drop to $90k and $900k respectively, I've still got a shitload of more sail once the winds start blowing favorably in the future.
Title: Re: Race from $1M to $2M
Post by: index on September 14, 2018, 09:34:56 AM
Could someone share why it is easier/faster to make the second million and how long it takes?

I know this has been discussed on the forum before, yet my searches are not turning up the answer.

Compound interest. If the market is up 7% and you have 1M, your net worth goes up 70k. If you only have 200k in savings, a 7% return gives you only 14k.

Also, keep in mind the market has had a fantastic run the last 10 years. If your previous experience of saving 1M happened between 1998 and 2008, the last decade seemed much easier to hit that second million. 
Title: Re: Race from $1M to $2M
Post by: oldtoyota on September 18, 2018, 07:15:59 PM
Could someone share why it is easier/faster to make the second million and how long it takes?

I know this has been discussed on the forum before, yet my searches are not turning up the answer.

The market has returned about 16% in the last 12 months.  If you started with 100K a year ago, that means you would have 116K today. That's a 16K increase.  It compounds from there year after year. 

But if you already had 1M a year ago, it has increased by 160K.  That's 10x in pure dollar amounts over the same time. 

No one knows how long it will take because we can't predict the real returns from the market, but since you have more to start with it increases faster - not as a percentage but as a number.   

A hypothetical 100K would double at the same time as your 1M, but that wasn't the question.  Double 100K is 200K and double 1M is 2M.  Same time for that doubling, but in one case it is a lot more money.

Thank you so much!
Title: Re: Race from $1M to $2M
Post by: oldtoyota on September 18, 2018, 07:18:38 PM
PathtoFire and Index--Thank you! I appreciate how you explained it. =-)
Title: Re: Race from $1M to $2M
Post by: oldtoyota on September 18, 2018, 07:27:01 PM
Instead of starting a new thread, I thought I'd ask this here first.

My head is playing some games with me. The Spouse has some doubts about the $$ being enough, and those doubts begin to creep into my own head.

I start to worry we don't have enough.

As I thought about solutions to this, here's what I came up with:

--Talk with Spouse to share our fears and concerns.
--Review the numbers to see (again) the facts of our situation.

Although I'm sure it's natural to feel scared, the worry doesn't feel good.

Any suggestions?

Title: Re: Race from $1M to $2M
Post by: TempusFugit on September 18, 2018, 09:16:37 PM
Obviously i dont know your numbers so i cant weigh in on whether your numbers are reasonable.

Presuming that you have numbers for your projcted spending and that you and the spouse agree on those numbers and have a high confidence in them, then all you can do from a math and logic standpoint is refer back to the studies regarding the 4% rule. You can add safety margins, run the numbers with expected increases in healthcare, run what if scenarios for a market downturn, etc ect. 

But thats only the mathematical (historical) and logical side of things.  Ultimately, retiring early is also (perhaps mostly) an emotional step.  If your spouse isnt comfortable with it, then you have to see what kind of compromise you can reach that makes both of you happy. 

Retiring early to spend time with your spouse only works if both of you are cmfortable with the decision.   Perhaps discuss an intermediate step toward retirement?  Cutting back significantly on hours/ days working?  Taking some extended time off to travel? 
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on September 19, 2018, 07:59:31 AM
The nice market run this month (and capped off with yesterday's surge) pushed TNW over $1.7MM.  LNW is knocking on the door of $1.4MM.

We've crossed $1.4MM LNW in both directions a number of times in August and September.  Every time there's a daily blip of -1% or so, we fall back below $1.4MM.  We started the year over $1.3MM, so it's been pretty slow going this year (especially compared to last year).  We'll see how things shake out by the end of December.
Title: Re: Race from $1M to $2M
Post by: talltexan on September 19, 2018, 08:15:40 AM
I'll admit, it's a little surreal listening to "dave ramsey" millionaire hours, and realizing that people are calling in who are fifteen years older and have the same net worth I do. Glad you guys are here to push me!
Title: Re: Race from $1M to $2M
Post by: Dicey on September 19, 2018, 08:58:34 AM
Instead of starting a new thread, I thought I'd ask this here first.

My head is playing some games with me. The Spouse has some doubts about the $$ being enough, and those doubts begin to creep into my own head.

I start to worry we don't have enough.

As I thought about solutions to this, here's what I came up with:

--Talk with Spouse to share our fears and concerns.
--Review the numbers to see (again) the facts of our situation.

Although I'm sure it's natural to feel scared, the worry doesn't feel good.

Any suggestions?
One of my favorite pre-FIRE assurances was "Retiring too early is a mistake you can recover from. Too late and there is no recovery." Best suggestion is to make a case study and crowdsource your plans. You are guaranteed to get excellent feedback from like-minded folk.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on September 19, 2018, 09:03:42 PM
Instead of starting a new thread, I thought I'd ask this here first.

My head is playing some games with me. The Spouse has some doubts about the $$ being enough, and those doubts begin to creep into my own head.

I start to worry we don't have enough.

As I thought about solutions to this, here's what I came up with:

--Talk with Spouse to share our fears and concerns.
--Review the numbers to see (again) the facts of our situation.

Although I'm sure it's natural to feel scared, the worry doesn't feel good.

Any suggestions?
One of my favorite pre-FIRE assurances was "Retiring too early is a mistake you can recover from. Too late and there is no recovery." Best suggestion is to make a case study and crowdsource your plans. You are guaranteed to get excellent feedback from like-minded folk.

Yes do a case study with all the proper information - and then get feedback.
You can also do one at the bogleheads forum. 
Title: Re: Race from $1M to $2M
Post by: markbike528CBX on September 20, 2018, 01:27:20 PM

Yes do a case study with all the proper information - and then get feedback.
You can also do one at the bogleheads forum.

Is there a side-by-side (dual-posted)MMM/bogleheads case study?  I would be interesting to compare/contrast the responses.
My guess.
Bogleheads: Only $2M!, you'll be reduced to cat food in no time.   
MMM: Verily, you must hang out with Warren Buffett and all the 0.001percenters.
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 20, 2018, 06:44:09 PM

Yes do a case study with all the proper information - and then get feedback.
You can also do one at the bogleheads forum.

Is there a side-by-side (dual-posted)MMM/bogleheads case study?  I would be interesting to compare/contrast the responses.
My guess.
Bogleheads: Only $2M!, you'll be reduced to cat food in no time.   
MMM: Verily, you must hang out with Warren Buffett and all the 0.001percenters.

Mustacianism got us to 2M.  Now that we've recently crossed that mark we're becoming more Bogleheadish.  I read the forum there years before MMM got started.  One can certainly feel inadequate with single millions.  Maybe 5 million gets you in the club these days.
Title: Re: Race from $1M to $2M
Post by: AccidentalMiser on September 21, 2018, 05:02:49 PM

Yes do a case study with all the proper information - and then get feedback.
You can also do one at the bogleheads forum.

Is there a side-by-side (dual-posted)MMM/bogleheads case study?  I would be interesting to compare/contrast the responses.
My guess.
Bogleheads: Only $2M!, you'll be reduced to cat food in no time.   
MMM: Verily, you must hang out with Warren Buffett and all the 0.001percenters.

Mustacianism got us to 2M.  Now that we've recently crossed that mark we're becoming more Bogleheadish.  I read the forum there years before MMM got started.  One can certainly feel inadequate with single millions.  Maybe 5 million gets you in the club these days.

I'd be happy to try and survive on a paltry 2M.  Anyone wish to finance my experiment?  I promise to write a report every month to let you know how I'm doing!
Title: Re: Race from $1M to $2M
Post by: catccc on September 25, 2018, 01:44:34 PM
I'll admit, it's a little surreal listening to "dave ramsey" millionaire hours, and realizing that people are calling in who are fifteen years older and have the same net worth I do. Glad you guys are here to push me!

Same, this community has opened my eyes up to greater possibilities.  I was posting in the early-retirement.org forums between 2012 and 2014, and that stint overlapped with the beginning of my posts here in 2013.  In 2012, I was really hoping for retirement at 48, I was 33 at the time.  I'm 39 now and hoping to pull the plug sometime when I'm 40.  TBH, 40 is an aggressive goal.  But back in 2012, 40 was an unthinkable pipe dream.  Really glad I found everyone here and stepped it up!  Not that the early-retirement.org forums weren't great, just that overall here folks are little more aggressive.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on September 28, 2018, 07:39:56 AM
Could someone share why it is easier/faster to make the second million and how long it takes?

I know this has been discussed on the forum before, yet my searches are not turning up the answer.

I like to use a sail analogy to explain. You and I are both sitting in boats in the same waters, and we both hoist up our sails, but I've got a whole lot more sail than you do. Maybe there's no wind, and neither of us go anywhere anytime soon. But once the wind starts blowing, I'm going to pick up a lot more speed than you are. I was just looking at my spreadsheets, and realized I've had several months this year with gains of around $30k, whereas at the very start a while back, $30k were my total gains for a so-so year (net worth is about 5x now what it was then). The reverse is true, the more you have, the more you lose (in absolute terms only), but we know the markets return a net positive over a long enough time period, and even if you start with $100k today and I have $1000k, and we both see a 10% drop to $90k and $900k respectively, I've still got a shitload of more sail once the winds start blowing favorably in the future.

$30K in a month? That's impressive. Well done!
Title: Re: Race from $1M to $2M
Post by: oldtoyota on September 28, 2018, 07:57:22 AM

Yes do a case study with all the proper information - and then get feedback.
You can also do one at the bogleheads forum.

Is there a side-by-side (dual-posted)MMM/bogleheads case study?  I would be interesting to compare/contrast the responses.
My guess.
Bogleheads: Only $2M!, you'll be reduced to cat food in no time.   
MMM: Verily, you must hang out with Warren Buffett and all the 0.001percenters.

Ha. That is funny. So the Bogleheads would consider me too poor, and fellow MMMers would consider me too rich. Got it. LOL.

Title: Re: Race from $1M to $2M
Post by: markbike528CBX on September 28, 2018, 08:16:26 AM

Yes do a case study with all the proper information - and then get feedback.
You can also do one at the bogleheads forum.

Is there a side-by-side (dual-posted)MMM/bogleheads case study?  I would be interesting to compare/contrast the responses.
My guess.
Bogleheads: Only $2M!, you'll be reduced to cat food in no time.   
MMM: Verily, you must hang out with Warren Buffett and all the 0.001percenters.

Ha. That is funny. So the Bogleheads would consider me too poor, and fellow MMMers would consider me too rich. Got it. LOL.

My suggestion/inquiry  for a side-by-side (dual-posted)MMM/bogleheads case study was serious to determine if the silly stereotypes I presented are based on any facts. 

I'm FIRED, so my case wouldn't be useful. 
Title: Re: Race from $1M to $2M
Post by: oldtoyota on September 28, 2018, 02:50:37 PM
I hear you and thought you were serious.

I thought your descriptions were meant to be funny.
Title: Re: Race from $1M to $2M
Post by: Roboturner on October 01, 2018, 05:20:41 PM
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
Title: Re: Race from $1M to $2M
Post by: Car Jack on October 03, 2018, 12:19:44 PM
It seems that there are posts every day both here and on Bogleheads (and r/pf) that are exactly the same.

Just do the math.  Determine how much safety net you need.  Make yourself a tool to see year by year what expected expenses you're going to have.  College for kids.  Health insurance.  Social Security.  All these are going to take more money than you think and return to you much less money than you think.
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on October 16, 2018, 06:52:26 AM
The nice market run this month (and capped off with yesterday's surge) pushed TNW over $1.7MM.  LNW is knocking on the door of $1.4MM.

We've crossed $1.4MM LNW in both directions a number of times in August and September.  Every time there's a daily blip of -1% or so, we fall back below $1.4MM.  We started the year over $1.3MM, so it's been pretty slow going this year (especially compared to last year).  We'll see how things shake out by the end of December.

Typically I'll just not check my balances much during bear markets, or right after corrections or other short-term dips.  But I got curious after last week's dip and checked this morning.  Ouch, down about $64K over the last couple weeks to ~$1.35MM.  On the bright side, we were able to shove a little more than $7K into pre-tax accounts at the end of last week.  Now we can start clawing back to $1.4MM and beyond.
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on October 17, 2018, 04:54:40 PM
The race is on . . . Backwards haha. Top is in.
Title: Re: Race from $1M to $2M
Post by: talltexan on October 24, 2018, 11:51:28 AM
I, too, suddenly feel like I'm running in reverse. Perhaps I need to just log in less frequently :-)
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on October 24, 2018, 01:30:04 PM
Corporate profits have been up about 20% this 3rd quarter earnings season, year over year
Title: Re: Race from $1M to $2M
Post by: farmecologist on October 25, 2018, 10:01:17 AM
The nice market run this month (and capped off with yesterday's surge) pushed TNW over $1.7MM.  LNW is knocking on the door of $1.4MM.

We've crossed $1.4MM LNW in both directions a number of times in August and September.  Every time there's a daily blip of -1% or so, we fall back below $1.4MM.  We started the year over $1.3MM, so it's been pretty slow going this year (especially compared to last year).  We'll see how things shake out by the end of December.

Typically I'll just not check my balances much during bear markets, or right after corrections or other short-term dips.  But I got curious after last week's dip and checked this morning.  Ouch, down about $64K over the last couple weeks to ~$1.35MM.  On the bright side, we were able to shove a little more than $7K into pre-tax accounts at the end of last week.  Now we can start clawing back to $1.4MM and beyond.

The funny thing is I don't check my core retirement accounts nearly as frequently during corrections.  However, I do check my trading account every day....even though I'm not a day trader.  Stock trading can get addicting....but it can be a fun hobby. 

Title: Re: Race from $1M to $2M
Post by: brooklynmoney on October 25, 2018, 09:38:38 PM
Down 100k woohoo! Still buying
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on October 26, 2018, 09:04:57 AM
Down 100k woohoo! Still buying

Well I should hope you're buying!  I kinda wish I had some cash lying around that I could use to buy on these sharply falling days.  Yeah yeah...market timing.  :P

As for checking my balances?  Nuh-uh.  Not gonna do it right now.  Depending on how the rest of the year goes, I might just check on Dec 31 to get a recap on the year as a whole.  It's (probably) going to be depressing, especially compared with last year's crazy gains.
Title: Re: Race from $1M to $2M
Post by: Bateaux on October 26, 2018, 09:23:15 AM
Yep. Still buying.  Down to 1.925 invested.  I ain't planning on hanging with you sukkas long though.  ;)
Title: Re: Race from $1M to $2M
Post by: 2Birds1Stone on October 26, 2018, 06:06:17 PM
Yep. Still buying.  Down to 1.925 invested.  I ain't planning on hanging with you sukkas long though.  ;)

Another 50+% crash and you're in the racing from $500 -> $1M thread?
Title: Re: Race from $1M to $2M
Post by: Bateaux on October 27, 2018, 10:33:50 AM
Yep. Still buying.  Down to 1.925 invested.  I ain't planning on hanging with you sukkas long though.  ;)

Another 50+% crash and you're in the racing from $500 -> $1M thread?


I sure as hell hope not.  I'll be pissed if I'm ever a less than one millionaire,  I'm pissed enough not being a two millionaire.   For that scenario probably want to invest in beans and bullets.
Title: Re: Race from $1M to $2M
Post by: Dicey on October 27, 2018, 11:34:49 AM
Yep. Still buying.  Down to 1.925 invested.  I ain't planning on hanging with you sukkas long though.  ;)

Another 50+% crash and you're in the racing from $500 -> $1M thread?
Don't laugh; whatever happens to us happens to you, too.
Title: Re: Race from $1M to $2M
Post by: Bateaux on October 29, 2018, 06:48:39 AM
None of us got here without seeing a few pullbacks.  It will pass. 
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on October 29, 2018, 04:54:37 PM
Bring on the market correction!  I'm poised to buy!
Title: Re: Race from $1M to $2M
Post by: Arbitrage on October 29, 2018, 07:48:51 PM
Bring on the market correction!  I'm poised to buy!

What if the correction turns into a full-fledged crash that lasts, say, (glances at sig) 10 months and 4 days more?
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on October 29, 2018, 08:30:29 PM
What if the correction turns into a full-fledged crash that lasts, say, (glances at sig) 10 months and 4 days more?
Even better!  I'll ride my job for 10 months and 4 days and continue to buy.  Then I'll tap my cash cushion as needed during the market recovery.  My emergency cash is enough to cover all living expense for two years.
Title: Re: Race from $1M to $2M
Post by: BoonDogle on October 31, 2018, 01:47:01 PM
What if the correction turns into a full-fledged crash that lasts, say, (glances at sig) 10 months and 4 days more?
Even better!  I'll ride my job for 10 months and 4 days and continue to buy.  Then I'll tap my cash cushion as needed during the market recovery.  My emergency cash is enough to cover all living expense for two years.

Agreed.  Tired of buying these stocks at overpriced values.  I have a few years and quite a bit of buying to do over that time so I'm hoping to do at least some of it at some lower prices.
Title: Re: Race from $1M to $2M
Post by: PathtoFIRE on November 01, 2018, 10:55:42 AM
Put it in the books, 97.7k loss for October. That's a record for me by about 2x in nominal $s since 2014 when I started keeping detailed records (previous was 46k in February of this year). As a percent, it was about 0.7% more of a loss than August 2015, my previous record for monthly % loss, and we all remember those awful awful days....what, you don't? Here's to forgetting this month in a few months/years time!
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 07, 2018, 08:49:24 PM
My NW went over $1.5 million today...again.
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on November 08, 2018, 08:03:30 AM
My NW went over $1.5 million today...again.

Nice!

October was obviously a big downer, but the last week+ has erased almost half those losses (in my case at least).
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on November 08, 2018, 07:47:42 PM
It was feeling almost too easy before and I was very close to my goal. More fun this way! Of course Iím still in accumulation mode.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 09, 2018, 01:36:08 PM
It was feeling almost too easy before and I was very close to my goal. More fun this way! Of course Iím still in accumulation mode.
Where do you stand now, brooklynmoney?  We still have the friendly race between ourselves!  :-)
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on November 10, 2018, 11:59:35 AM
Cornbread this race is not friendly itís dead  serious haha. I got bumped back about $70k so Iím at 1.4 and change. In reality I will never catch you because you have your well deserved pension and I am a corporate drone with no pension.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 10, 2018, 12:30:15 PM
Cornbread this race is not friendly itís dead  serious haha...
Whoa!  This is getting serious!!  :-)

I got bumped back about $70k so Iím at 1.4 and change.
$1.4 is damn good and only going to get higher.

In reality I will never catch you because you have your well deserved pension and I am a corporate drone with no pension.
Isn't this like comparing apples and oranges?  I keep my pension amount separate from my net worth.  Net worth is just net worth.  Then there is the amount of passive income produced from the net worth.  This is when I take that amount and add the amount of the pension to come up with a dollar amount.

You probably will overtake me in NW soon.  In about nine months, my accumulation phase most likely will be put on hold indefinitely as I decide on my FIRE options.
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on November 11, 2018, 06:58:01 AM
Thanks for the support, Cornbread. I likewise am thrilled for you receiving permission to retire.
Itís funny what people do or donít count on net worth. I actually dont count my home equity as I feel like itís not real until I actually sell. They are shutting down my subway line and Iím sure the value is tanking right now but Iím hopeful it will recover at some point.

No matter whose net worth is higher we both win because we will have the freedom to live life as we choose as FI individuals.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 11, 2018, 01:26:15 PM
No matter whose net worth is higher we both win because we will have the freedom to live life as we choose as FI individuals.
Amen!!
Title: Re: Race from $1M to $2M
Post by: muckety_muck on December 03, 2018, 09:03:49 PM
We just passed $1M for the first time this month, and plan to work another 5-6 years based on our vested retirement balances, healthcare at current jobs continuing in retirement, etc. so we're not really trying to hit $2M necessarily, but it likely the number we will be very close to mid-2022 when we plan to FIRE.

Count us in! :)

Quick update, we're halfway there, $1.5M approaching the end of 2018. It's a long, boring slog but only took us about 27 months to increase our NW by 50%! Faster than I thought. Just some encouragement to keep us all going :)
Title: Re: Race from $1M to $2M
Post by: Acorns on December 03, 2018, 09:48:16 PM
We just passed $1M for the first time this month, and plan to work another 5-6 years based on our vested retirement balances, healthcare at current jobs continuing in retirement, etc. so we're not really trying to hit $2M necessarily, but it likely the number we will be very close to mid-2022 when we plan to FIRE.

Count us in! :)

Quick update, we're halfway there, $1.5M approaching the end of 2018. It's a long, boring slog but only took us about 27 months to increase our NW by 50%! Faster than I thought. Just some encouragement to keep us all going :)

Just wondering if you could share how much of the increase is from savings and how much is from market growth?
Title: Re: Race from $1M to $2M
Post by: talltexan on December 07, 2018, 08:18:35 AM
props to you guys for a $500,000 increase in NW in less than three years!
Title: Re: Race from $1M to $2M
Post by: muckety_muck on December 07, 2018, 07:14:42 PM


Quick update, we're halfway there, $1.5M approaching the end of 2018. It's a long, boring slog but only took us about 27 months to increase our NW by 50%! Faster than I thought. Just some encouragement to keep us all going :)

Just wondering if you could share how much of the increase is from savings and how much is from market growth?

I'm not exactly sure, but this is maxing two 401k's each year, and sending average of about $35k to Vanguard after-tax per year... kids college fund investments (about $3k/year is gifted from grandparents for kids college). I haven't been on this board in a while, but I did update my journal with the numbers I could get my hands on quickly. Switched computers late 2017/early 2018 so I'm missing most of 2017's numbers. There was quite a bit of market growth between 2016 and Jan 2018, so I can't take credit for all of it :) We didn't get any inheritances or huge windfalls from house sales, etc. This was all grind it out, save it and invest it. Two full time working parents with all the normal expenses (ridiculous daycare, groceries, mortgage pmt, utilities, etc). If I had to guess, I would say about $80k/year is what we saved, some of that was before tax though so it's misleading.
Title: Re: Race from $1M to $2M
Post by: AccidentalMiser on December 07, 2018, 07:34:16 PM
Congrats, Muckety.  Well done.

We almost hit 1.1M last week but have fallen back some.  We first hit 1M in July but the market's been a little rough and we eliminated a investment property from the balance sheet with zero to show for it (long story).

I love your description as a long, boring slog.  I know what you mean.  Our NW was about 750k at the beginning of '17 and I can't believe we've grown so quickly.  It sure doesn't feel like we're making progress until we look back at the road we've travelled!

UPDATE:  2-20-19: Hit 1.2 M for the first time.  Yay!
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on December 08, 2018, 08:26:29 AM
4th quarter dividends and capital gains distros are coming up.  I'm wondering how my numbers are going to look for 2018 with the tax law changes and the wildly fluctuating stock market.  In 2017, my non-retirement accounts generated $26K in income, and I am hoping to surpass $30K in 2018.  The answer will come in a few more weeks!
Title: Re: Race from $1M to $2M
Post by: Bateaux on December 17, 2018, 10:06:52 PM
Taking heavy losses.  Glad I've OMY, OMY to 2020.  I'm getting ready to sell some taxable stocks at a loss and then toss what money is left to fully fund our 2018 Roth IRAs.  I quit funding them in April to build cash.   It's not nearly as fun losing money.
Title: Re: Race from $1M to $2M
Post by: Car Jack on December 18, 2018, 06:56:21 AM
I expect some of the people in the $2M+ thread are going to drop in here.  I'm a bit afraid to update my spread sheet.  With the losses yesterday, I know I'm only a hundred k or so away from dropping back in the under $2M territory.
Title: Re: Race from $1M to $2M
Post by: Bateaux on December 18, 2018, 12:38:47 PM
Total NW is still 2M but investment assets have dipped below.
Title: Re: Race from $1M to $2M
Post by: Car Jack on December 18, 2018, 12:58:38 PM
Well, I went and updated the spread sheet.  I guess the combination of all the money I've put into the market over the year and the fact that I'm 50/50 meant that the number I look (total investment assets) hasn't really changed. 

Title: Re: Race from $1M to $2M
Post by: 2Birds1Stone on December 18, 2018, 01:13:57 PM
I'm sure some of you will be joining us in the $500k->$1M thread at some point.

It's safer over there, income makes a bigger dent in the forward trajectory.
Title: Re: Race from $1M to $2M
Post by: omachi on December 18, 2018, 02:07:50 PM
Haven't done a total tally yet, but in my easily assessed after tax account, returns are negative and new investments are larger than those losses. May be that I'm still making enough that we're moving forward, even if not fast. That's fine, since I'm accumulating I'd prefer to deal with losses while I still have income, buy things on sale, and hopefully have a nice sequence of returns after I retire.
Title: Re: Race from $1M to $2M
Post by: dogboyslim on December 19, 2018, 09:48:15 AM
Well, I went and updated the spread sheet.  I guess the combination of all the money I've put into the market over the year and the fact that I'm 50/50 meant that the number I look (total investment assets) hasn't really changed.

I dropped back.  Not too worried about it since I'm not living off my stache yet.  Was painful to see the amount of the drop though.  Should come back by 2030.  ;)
Title: Re: Race from $1M to $2M
Post by: dougules on December 19, 2018, 02:56:33 PM
Well, I went and updated the spread sheet.  I guess the combination of all the money I've put into the market over the year and the fact that I'm 50/50 meant that the number I look (total investment assets) hasn't really changed.

I dropped back.  Not too worried about it since I'm not living off my stache yet.  Was painful to see the amount of the drop though.  Should come back by 2030.  ;)

I'm excited to see a discount on my next purchase. 
Title: Re: Race from $1M to $2M
Post by: Car Jack on December 20, 2018, 07:17:25 AM

I'm excited to see a discount on my next purchase.

I put in a limit order at a price I thought SCHB would never get to again.  Already planned to pull the money back out of Schwab and throw it into my Ally account.  Then I get an email.....a buy has been made.  Oh, cool. 
Title: Re: Race from $1M to $2M
Post by: TempusFugit on December 24, 2018, 03:01:22 PM
I have been reluctant to check balances this month for obvious reasons.  I peeked at them over the weekend and to my surprise, I was still ensconced in the (very nice) vestibule of this thread. 

Then...today. Merry Christmas, indeed.    Well, perhaps several of us can set up a transient camp in the parking lot until this little bear market thingy blows over. 


Title: Re: Race from $1M to $2M
Post by: MM_MG on December 28, 2018, 10:33:20 PM
I'll play. 

Investments and cash ~$1.2, total net worth around $1.8 counting personal property and home equity (the latter doesn't really factory into my retirement equation). 

A Bateaux post about target numbers brought me to this thread, but I'll stick around for motivation.  Doubt we'll cross $2M in net worth this year, but than again I didn't expect to get the returns I've been getting this year either.  I keep waiting for a "correction" but I'll enjoy the numbers while they last.   Still have a ways to go to meet our goals, and we expect a 10-17 year work horizon in front of us...so far.  :)

To my surprise we crossed over $2 million net worth sometime this year.  But it includes real estate that I don't factor into my target number.  Fun to watch, but plan to still grind it out.
Title: Re: Race from $1M to $2M
Post by: bgfoot on December 29, 2018, 11:07:16 AM
My update
Still over $1M The last quarter has not been good. But I have maxed out my 401K, Roth and H.SA for 2018. Still on target for an exit strategy in early 2019
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on December 29, 2018, 11:36:34 AM
Ignorance is bliss. I keep buying but refuse to open personal capital. Might see how long I can keep this up. I usually check at least 1x a week. Right now Iím more concerned with spending less than last year. Iíve got about $100 left to carry me through which includes NYE.
Title: Re: Race from $1M to $2M
Post by: talltexan on January 03, 2019, 08:44:23 AM
Haven't done a total tally yet, but in my easily assessed after tax account, returns are negative and new investments are larger than those losses. May be that I'm still making enough that we're moving forward, even if not fast. That's fine, since I'm accumulating I'd prefer to deal with losses while I still have income, buy things on sale, and hopefully have a nice sequence of returns after I retire.

This was my position in my 401K. Just gotta keep stuffing the pillow.
Title: Re: Race from $1M to $2M
Post by: omachi on January 03, 2019, 11:42:32 AM
Haven't done a total tally yet, but in my easily assessed after tax account, returns are negative and new investments are larger than those losses. May be that I'm still making enough that we're moving forward, even if not fast. That's fine, since I'm accumulating I'd prefer to deal with losses while I still have income, buy things on sale, and hopefully have a nice sequence of returns after I retire.

This was my position in my 401K. Just gotta keep stuffing the pillow.
Yes, definitely keeping up the buying. Got through the tally of retirement accounts in addition to after tax and balances are up over the year, but only by about 1/3 of what we contributed. So losses, but not a decrease in net worth year over year.
Title: Re: Race from $1M to $2M
Post by: ozbeach on January 03, 2019, 12:41:12 PM
Having done my end-of-year numbers, it's nice to see I'm still in this club!


I FIREd at the beginning of the year, so unlike others here I'm not able to keep buying :(
Title: Re: Race from $1M to $2M
Post by: Roboturner on January 03, 2019, 04:36:35 PM
Well, we finally lost money Q/Q, and probably not the last time - ah well, looks like we'll have some sales for the next couple years to pump into

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
Title: Re: Race from $1M to $2M
Post by: Allie on January 04, 2019, 11:00:56 PM
Iíd like to join the race!  Iím tracking household NW, since DH and I have combined finances.  Really, he does the work and I sit around and watch the accounts.

Iíd love to get to 1.6 this year, but with the stuff we have planned (like surgeries and house repairs) 1.5 is more likely.  Fingers crossed for nice, steady investment growth and no unexpected emergencies!

So, as it stands now:

1/19 - TNW 1.47; LNW 1.33
Title: Re: Race from $1M to $2M
Post by: Arbitrage on January 07, 2019, 03:39:24 PM

I'm including home equity; planning to sell the house and move to a lower COLA.

12/31/2011: $244k
12/31/2012: $344k
12/31/2013: $446k
12/31/2014: $541k
12/31/2015: $674k
12/31/2016: $822k
12/31/2017: $1071k
1/31/2018:  $1092k or so after today's drop
12/31/2018: $1152k

Definitely not what I hoped for, but my investments performed very poorly and I was up $80k YOY, so I can't complain too much.  Just need to keep plowing money in to reach FI!
Title: Re: Race from $1M to $2M
Post by: HappierAtHome on January 07, 2019, 03:44:54 PM
Starting 2019 on $1.1M. Slow progress since we entered this race - dropped our income by 40%, and the markets haven't been helping.
Title: Re: Race from $1M to $2M
Post by: CanuckExpat on January 09, 2019, 10:36:34 PM
Hit ~$1.0M  in 05/2016 when we sold our house
At  $1.17M in 10/2016 we quit our jobs
At $1.18 at end of 2016

Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

At $1.36M  at end of 2017
NW increase of almost $180k without jobs. I'll take that for markets doing their magic


At $1.24M at end of 2018
Not really a forward race at this point, but I guess it's still better than working :)
Title: Re: Race from $1M to $2M
Post by: Bateaux on January 12, 2019, 01:46:53 PM
Back over 1.9M again.  Hope to be back over 2M in coming months if the economy holds.  Just can't see FIRE happening on less than 2M for my mental well being.  I'm going to try and keep spending down to 3% maybe increase to 4% eventually.  Hopefully by our golden years we can give more to charities annually than we spend.
Title: Re: Race from $1M to $2M
Post by: desk_jockey on January 13, 2019, 09:12:40 AM
Back over 1.9M again.  Hope to be back over 2M in coming months if the economy holds.  Just can't see FIRE happening on less than 2M for my mental well being.  I'm going to try and keep spending down to 3% maybe increase to 4% eventually.  Hopefully by our golden years we can give more to charities annually than we spend.

Iím back in the race, after briefly & barely graduating when I checked numbers at the end of the 3rd Quarter.   While I donít bet [much] on my ability to do market predictions, I feel this is a race where Iíll cross the line a few more times in both directions before I fire sometime in 2020 to 2022.  At the current PE10 ratio range, to FIRE I would like to have a 3.5% WR for normal expenses plus an supplemental medical expense fund to help bridge any major costs until we have access to Medicare.

Title: Re: Race from $1M to $2M
Post by: oldtoyota on January 13, 2019, 04:06:21 PM
Well done, all!

I'm planning a little bit of spendy activity. A trip to Europe. Possible schooling for child.

My work life changed over the past few years. I work for myself from home most of the time. The stress is low. My clients are fun and smart, and I love working with them. So I'm probably going to be someone who is FI but maybe not officially RE according to the internet retirement police. =-) I can increase or reduce my workload if I want more money or want to travel more, so I'm feeling good about things.

I'm entering a period of wanting to work on some personal projects. If I can do that *and* the business, then I will be a happy camper.

Overall, life is good.






Title: Re: Race from $1M to $2M
Post by: talltexan on January 14, 2019, 08:30:12 AM
the talltexan household has fallen backwards with the market downturn, so we still have most of the second $million in front of us.
Title: Re: Race from $1M to $2M
Post by: JoJoP on January 20, 2019, 05:58:28 PM
Well done, all!

I'm planning a little bit of spendy activity. A trip to Europe. Possible schooling for child.

My work life changed over the past few years. I work for myself from home most of the time. The stress is low. My clients are fun and smart, and I love working with them. So I'm probably going to be someone who is FI but maybe not officially RE according to the internet retirement police. =-) I can increase or reduce my workload if I want more money or want to travel more, so I'm feeling good about things.

I'm entering a period of wanting to work on some personal projects. If I can do that *and* the business, then I will be a happy camper.

Overall, life is good.

It seems like you've got a perfect plan. 
Title: Re: Race from $1M to $2M
Post by: ynotme on January 25, 2019, 03:29:27 PM
My progress from $1M to $2M

2014: $1,008,000
2015: $1,191,000 (18%)
2016: $1,353,000 (13%)
2017: $1,561,000 (15%)
2018: $1,659,000 (  6%)

Last year was the lowest $ and % increase to date. Hard work when you don't have those investment returns adding to your net worth.


Title: Re: Race from $1M to $2M
Post by: marty998 on January 25, 2019, 04:43:18 PM
I haven't posted in this thread in a while (can't actually find my last one!) but I just went over $1.2m for the first time yesterday.

Market rebound in the first few weeks of January has helped, but I wouldn't be sad if it dipped down again over the next few months in order to buy some more :)

Title: Re: Race from $1M to $2M
Post by: Unique User on February 01, 2019, 05:51:08 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
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on February 01, 2019, 12:18:19 PM
Congrats.
I wonder if the unwinding of the federal holdings of treasuries and mortgage backed securities is in part to blame for lowered asset valuations.

The Hot Topic in Markets Right Now: ĎQuantitative Tighteningí
https://nyti.ms/2GbIplo
Title: Re: Race from $1M to $2M
Post by: talltexan on February 05, 2019, 12:01:47 PM
The unwinding you describe is a "tight" monetary policy, but we also have a very "loose" fiscal policy to the tune of our $1 trillion budget deficit, so that should be offsetting things a little.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on February 20, 2019, 05:20:40 PM
Well done, all!

I'm planning a little bit of spendy activity. A trip to Europe. Possible schooling for child.

My work life changed over the past few years. I work for myself from home most of the time. The stress is low. My clients are fun and smart, and I love working with them. So I'm probably going to be someone who is FI but maybe not officially RE according to the internet retirement police. =-) I can increase or reduce my workload if I want more money or want to travel more, so I'm feeling good about things.

I'm entering a period of wanting to work on some personal projects. If I can do that *and* the business, then I will be a happy camper.

Overall, life is good.

It seems like you've got a perfect plan.

Thank you.

It's been a long road. Before I came here, I used to be on the Fool.com forum. I had the savings/frugality part down before coming here. This forum helped me learn about some additional areas that helped me reach my goal. =-D

Title: Re: Race from $1M to $2M
Post by: AccidentalMiser on February 20, 2019, 07:45:09 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.
Title: Re: Race from $1M to $2M
Post by: talltexan on February 21, 2019, 08:15:30 AM
I'm a little disappointed in myself for not having taken advantage of the dramatic dip between Christmas Eve and early January. I got spooked and had new money going into bonds during that period. It was only perhaps $3-$5K, but it would have been nice to get that stuff on sale.
Title: Re: Race from $1M to $2M
Post by: PathtoFIRE on February 21, 2019, 10:57:12 AM
Yeah, because of job changes plus topping off the 401k at the end of November, we had only a trickle entering the markets during December and January. Sucks but will be totally unnoticeable in a few years.
Title: Re: Race from $1M to $2M
Post by: chasesfish on February 21, 2019, 09:52:59 PM
Getting really close.

If I include the value of my pension...its really, really close.

I think DFW housing market softening is going to whack me a little then the sustainable withdraw rate starts
Title: Re: Race from $1M to $2M
Post by: Money Badger on February 23, 2019, 06:17:42 PM
Stuck just under $1.3M since end of 2017 due to personal decisions on investments (market timer anyone?)... Starting to recover from moving/downsizing expenses after achieving debt freedom though...   Just paid off the last expense from that last day of Feb.

So the good news is now the budget for March amazingly has almost $1500 more in free cash flow.   All going into the after tax investments.   The bad news is work drama is ongoing after a re-org... So an income interruption (or FIRE call) is likely this year.  But the stash is going to get a bump in early 2021 with a family windfall...    So the plan is to just do what has to be done until 2021... Then after that, Bring on RE baby...  Money Badger don't care.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on February 23, 2019, 09:04:08 PM
How much have you earned this year from investments? I'm surprised at how much our investments increased this calendar year.
Title: Re: Race from $1M to $2M
Post by: CoffeeAndDonuts on February 26, 2019, 04:58:12 AM
How much have you earned this year from investments? I'm surprised at how much our investments increased this calendar year.

10.3% as of Feb 25 including dividends.

PC says sp500 was 10.5%.

My investments were about 7.5% cash though as I've been dollar cost averaging proceeds from a home sale into the market. I know better factually but I just couldn't bring myself to pull the trigger on such a large sum on one day. Turned out for the best bc it would have been in October. Luck!
Title: Re: Race from $1M to $2M
Post by: arebelspy on February 28, 2019, 02:37:11 PM
Might be a slow race to two million with no jobs, but hope to join you, doing it while sitting around drinking and hoping the markets do their magic. Slow and steady...

whats your WR.  4% of 1.17M or less?

Hard to say because we have a lot of changes and went into permanent travelling mode, so don't know what our expenses are. Will aim to keep them below $40,000. Long term it will depend on cost of housing in whatever area we settle in.

We're in a similar situation!  North of 1MM, FIRE'd, so our "race" to 2MM will be more like a slow crawl.

Unknown expenses due to travel/kids and unknown future "settling" situation.

But hey, I'd rather crawl to 2MM while not working than rocket there while working full time, personally.  :D

I'd guess maybe.. 2021 or so?  Could be earlier or later, depending on market returns and any contributions.

Guess it's time for an update, two years later.

April 2010: Net Worth $0

January 2015: $1MM

June 2015: FIRE'd.

January 2017 (the time of the above quoted post): 1.44MM

January 2019 (present): 1.76MM

My 2021 guess looks fairly accurate. It might happen earlier, in 2020, or later, in 2022 or after, if we see a market dip. Either way, we're not sweating it.

Our first retire, then get rich (https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-$1m-to-$2m/msg1592136/#msg1592136) plan is working pretty well. Asset runaway (https://forum.mrmoneymustache.com/continue-the-blog-conversation/first-retire-then-get-rich/), where it accumulates faster than you draw down on it, is pretty sweet.

Though our expenses are no longer Mustachian-level. They're a bit north of 4% of what our current stache is. I'm not sure exactly, as I no longer track spending (https://forum.mrmoneymustache.com/post-fire/tracking-spending-post-fire/). They're over 3x what they were in our accumulation phase. They're optimized and in-line with our values, which is all I care about, rather than an arbitrary number.
Title: Re: Race from $1M to $2M
Post by: ysette9 on February 28, 2019, 09:42:14 PM
In the vein of what arebelspy just posted, I happen to look back at where we were when I wrote my first journal entry here, four years and one month ago.


Jan 2015: a hair's breadth away from $1M
Feb 2019: $1.966 (invested, doesn't count 529s or home equity)

So that means it took us ten years collectively to get from $0 to $1M and four years to go from $1 to $2. Maybe this is the magical compound interest thingie that caught my attention like a bolt of lightening in that finance class I took as an undergrad.
Title: Re: Race from $1M to $2M
Post by: winkleweizen on March 01, 2019, 09:13:34 AM
Joining this race!

march 2019: 1.04m
Title: Re: Race from $1M to $2M
Post by: FireLane on March 01, 2019, 04:53:12 PM
Thanks to the market bouncing back, our NW is hovering around 1.33 M. Just shy of 1.6 if you count the equity in our paid-off place.

This is about $183,000 in gains since this time last year, $457,000 in two years and $770,000 in three. Pretty crazy how fast that happens when compounding really gets going.
Title: Re: Race from $1M to $2M
Post by: Dicey on March 02, 2019, 11:42:13 AM
In the vein of what arebelspy just posted, I happen to look back at where we were when I wrote my first journal entry here, four years and one month ago.


Jan 2015: a hair's breadth away from $1M
Feb 2019: $1.966 (invested, doesn't count 529s or home equity)

So that means it took us ten years collectively to get from $0 to $1M and four years to go from $1 to $2. Maybe this is the magical compound interest thingie that caught my attention like a bolt of lightening in that finance class I took as an undergrad.
You bought a house in the super expensive Bay Area during that time, which means at least $100k down, maybe more. This money didn't disappear, you merely shifted it to another asset class. I think you should totally count it, as it's still out there, working hard for you. Your progress is even more badass than you're giving yourself credit for, @ysette9.
Title: Re: Race from $1M to $2M
Post by: ysette9 on March 03, 2019, 09:03:35 PM
You are right, there was a good $200k that got harvested off the top of our vanguard account for house purchase and remodel. Incidentally almost all of that was pure gains from our investments, which felt pretty damn cool. Thanks, Vanguard!
Title: Re: Race from $1M to $2M
Post by: talltexan on March 05, 2019, 08:10:03 AM
The TallTexan Household is sitting at about $1.1 million, putting us below the average for this group. I'd love some advice from my fellow millionaires.

It's become apparent that we will have to move within Charlotte, however. We're currently in a--let's be nice and call it palatial--house that maps to a mediocre school district. We'd like to improve the schools, and reduce travel time to other things.

Housing is fairly cheap in Charlotte, but we are still cautious about sinking too much money into a property. Based on our income, we could handle monthly payments of about $2,400 fairly easily. We also have perhaps $100,000 equity in our current home, and perhaps double that in taxable investments.

Is there a rule-of-thumb about how your house should compare to the rest of your net worth? I would certainly like to be able to count on market returns continuing to grow much of our 'stache, rather than having to depend on house appreciation.

For what it's worth, I'm comfortable servicing a low-interest mortgage for a long time.
Title: Race from $1M to $2M
Post by: ysette9 on March 05, 2019, 09:35:04 AM
I don’t have a good answer for you. I think the standard response would be to buy as little as possible to meet your goals. There are people here with $200k houses. Ours was a comparable steal for our area at a hair over $1M.

Over the years I’ve come to the conclusion that for houses I much prefer quality over quantity. Meaning, a well laid-out house with kick-ass insulation and light and high-end features and good storage is way more comfortable to me than a big-ass McMansion. I visit my aunt and uncle who live in a McMansion in South Carolina and I am always struck at how HUGE it is, but also how incredibly loud it is. There is literally no place you can escape to in over 3000 ft^2 to have some peace and quiet as everything is open, huge reverberating ceilings, no insulation, and wood floors everywhere. The house looks nice but you can tell it wasn’t constructed with the best quality materials or processes and is showing its age (even though it is not old).

Anyway, point of my long, rambling rant is that in you shoes I would look for a modest-sized house in an old neighborhood (with mature trees as new developments are so stark and barren) that has been remodeled with high-quality finishes. I’d insulate the heck out of it if it hadn’t been done already. Think hard about how much space you actually use. In CA the weather is so great pretty much always that we comfortably live in 900 of our 1100ft ^2 much of the time. You obviously have to deal with some pretty harsh weather so I think more indoor space makes sense to not go stir crazy. Most of my aunt and uncle’s sits unused most of the time, so just be thoughtful.

***
Edit: I’d “insulate”, not “insulte” the house ;-)
Title: Re: Race from $1M to $2M
Post by: Dicey on March 05, 2019, 10:09:22 AM
To add to what my Bay Area pal above said, I'd look for a duplex or a house with a nice ADU for potential income, now or later. The % of net worth calculation isn't all that valuable. In the begining we were RE heavy, (because you kind of have to be in a HCOLA) then we increased our equities, then we bought more RE and we're heavy there again. Eventually the total is so big it doesn't matter all that much.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on March 05, 2019, 09:44:37 PM
I made a grand total of $1,800 in the last six months. Life is hard.

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
Title: Re: Race from $1M to $2M
Post by: Bateaux on March 06, 2019, 07:04:44 AM
Dang HD.  Unless you're a crypto trader that's kinda strange.
Title: Re: Race from $1M to $2M
Post by: 2Birds1Stone on March 06, 2019, 08:52:37 AM
Why is that strange? Stocks are still significantly below the Sept 2018 highs. Herb is probably 100% stocks - Condo value.

ETA - correct date. Thanks @RWD !
Title: Re: Race from $1M to $2M
Post by: RWD on March 06, 2019, 09:05:51 AM
Stocks are still significantly below the Sept 2019 highs.

This is very reassuring. Looking forward to the stock market gains this year!   =P
Title: Re: Race from $1M to $2M
Post by: SuperSecretName on March 06, 2019, 12:36:29 PM
How do y'all stay motivated?  I recently joined the threetwo-comma club, am loosening the reins a bit and allowing some lifestyle creep.

I mean, I'll still drive a couple of minutes out of my way to get gas 10c cheaper.  But picking up extra work is not appealing, and I know that the original drive/push/whatever has subsided.  At this point the market/time is going to do most of the lifting from now on.
Title: Re: Race from $1M to $2M
Post by: FIRE@50 on March 06, 2019, 12:38:44 PM
How do y'all stay motivated?  I recently joined the three-comma club, am loosening the reins a bit and allowing some lifestyle creep.

I mean, I'll still drive a couple of minutes out of my way to get gas 10c cheaper.  But picking up extra work is not appealing, and I know that the original drive/push/whatever has subsided.  At this point the market/time is going to do most of the lifting from now on.
If I was a billionaire, I would have trouble staying motivated as well.
Title: Re: Race from $1M to $2M
Post by: talltexan on March 06, 2019, 12:43:20 PM
If I were in the three-comma club, i'd totally be hiring homeless people to sneak into my workplace and take dumps on peoples' desks.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on March 06, 2019, 04:59:35 PM
Why is that strange? Stocks are still significantly below the Sept 2018 highs. Herb is probably 100% stocks - Condo value.

ETA - correct date. Thanks @RWD !

Yeah, basically my net worth is divided across index funds, company stock, and my condo, all three of which are down since September 2018. Life is hard.
Title: Re: Race from $1M to $2M
Post by: jack06 on March 10, 2019, 06:26:04 PM
I don't know if other people on this group are in a similar situation.. I FIREd nearly two years ago (at 42), with less than 800k$. I'm now at 1.15M$ (investable). I spend about 24k$ per year.

First year we mostly travelled, my wife was on a sabbatical leave, I also started doing work as a consultant, maybe a total of 300 hours or so. This year I will have worked maybe twice that number of hours, mostly during the cold months of winter.

Reaching 2M$ may take longer than most of you (it may never happen actually) since I earn less money that I used to when I was working full time.

The reason why I target 2M$ is that my wife is not retired yet and while my spending level is low right now, we want to travel when we are both retired (at least, initially), particularly during winter.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on March 10, 2019, 08:54:25 PM
How much have you earned this year from investments? I'm surprised at how much our investments increased this calendar year.

10.3% as of Feb 25 including dividends.

PC says sp500 was 10.5%.

My investments were about 7.5% cash though as I've been dollar cost averaging proceeds from a home sale into the market. I know better factually but I just couldn't bring myself to pull the trigger on such a large sum on one day. Turned out for the best bc it would have been in October. Luck!

Oh, that is luck all right! Thank you for sharing that.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on March 10, 2019, 08:57:32 PM

So that means it took us ten years collectively to get from $0 to $1M and four years to go from $1 to $2. Maybe this is the magical compound interest thingie that caught my attention like a bolt of lightening in that finance class I took as an undergrad.

Amazing!! I love hearing about how long it takes to reach the second million after the first.

How much did you save per year during those four years?
Title: Re: Race from $1M to $2M
Post by: oldtoyota on March 10, 2019, 09:03:34 PM
How do y'all stay motivated?  I recently joined the threetwo-comma club, am loosening the reins a bit and allowing some lifestyle creep.

I mean, I'll still drive a couple of minutes out of my way to get gas 10c cheaper.  But picking up extra work is not appealing, and I know that the original drive/push/whatever has subsided.  At this point the market/time is going to do most of the lifting from now on.

I think you don't. And that is okay.

Well, the answer depends on what your question means.

Does it mean how do we stay motivated to save?

Does it mean how do we stay motivated to work or do other things?

Instead of focusing on motivation, I'd focus on action. If you want to do something--save, work, something else--do that. Motivation can come later.

Title: Re: Race from $1M to $2M
Post by: talltexan on March 11, 2019, 08:31:44 AM
I want to give props to oldtoyota for the name.

I have a 10.5 yo Camry. It has been driven a very non-mustachian 125,000 miles. But it's stayed solid, helped by covered parking at every job I've had. Choosing that car over many others has been a key to prosperity in the talltexan household.
Title: Re: Race from $1M to $2M
Post by: ysette9 on March 11, 2019, 11:04:53 AM

So that means it took us ten years collectively to get from $0 to $1M and four years to go from $1 to $2. Maybe this is the magical compound interest thingie that caught my attention like a bolt of lightening in that finance class I took as an undergrad.

Amazing!! I love hearing about how long it takes to reach the second million after the first.

How much did you save per year during those four years?
Hmm. Good question. Our saving certainly has been increasing in $ terms over the years but I don’t think I have an easy way of determining. I’ll take a quick peak and see if we have any tax time overview spreadsheets that might shed light.
Title: Re: Race from $1M to $2M
Post by: Bloop Bloop on March 11, 2019, 11:12:58 AM
How do y'all stay motivated?  I recently joined the threetwo-comma club, am loosening the reins a bit and allowing some lifestyle creep.

I mean, I'll still drive a couple of minutes out of my way to get gas 10c cheaper.  But picking up extra work is not appealing, and I know that the original drive/push/whatever has subsided.  At this point the market/time is going to do most of the lifting from now on.

I struggle a bit with motivation too. The only way I've found that works is to turn it into a game and have short-term milestones. In 3 months I want to be here. In 6 months I want to be here. Etc.

I think once you are financially comfortable and trying to get to the next level (financially comfortable...forever, without working further), there is a challenge staying motivated. Because you're no longer working for immediate needs/wants any more, but rather working to shore up your lifestyle. That's great and all, but it's not as mentally compelling.

Strangely one way I've found that works is to promise myself I will save 5-10% of my net income in a "fun" fund that I then splash out on stupid, useless things. It encourages me to keep going.
Title: Re: Race from $1M to $2M
Post by: ysette9 on March 11, 2019, 11:14:05 AM

So that means it took us ten years collectively to get from $0 to $1M and four years to go from $1 to $2. Maybe this is the magical compound interest thingie that caught my attention like a bolt of lightening in that finance class I took as an undergrad.

Amazing!! I love hearing about how long it takes to reach the second million after the first.

How much did you save per year during those four years?
Hmm. Good question. Our saving certainly has been increasing in $ terms over the years but I don’t think I have an easy way of determining. I’ll take a quick peak and see if we have any tax time overview spreadsheets that might shed light.
Well damn. No easy answers after 5 min of poking around. I think we saved something like $270k in 2018 though. (The stock price gods smiled kindly that year.)
Title: Re: Race from $1M to $2M
Post by: oldtoyota on March 12, 2019, 08:53:19 PM
I want to give props to oldtoyota for the name.

I have a 10.5 yo Camry. It has been driven a very non-mustachian 125,000 miles. But it's stayed solid, helped by covered parking at every job I've had. Choosing that car over many others has been a key to prosperity in the talltexan household.

Thank you! Toyotas have been helpful to us in our accumulation phase. =-D We have a 14 yo Camry and some old Corollas.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on March 12, 2019, 08:57:40 PM
Thanks for taking a look @yesett9. =-D
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on March 12, 2019, 09:24:48 PM
I have a 10.5 yo Camry. It has been driven a very non-mustachian 125,000 miles. But it's stayed solid, helped by covered parking at every job I've had. Choosing that car over many others has been a key to prosperity in the talltexan household.

...Toyotas have been helpful to us in our accumulation phase. =-D We have a 14 yo Camry and some old Corollas.
Add me to the Toyota fan club.  I drive a 1999 Toyota 4Runner that is approaching 250K miles.  The vehicle would be well over 300K miles had I not spent five years overseas.
Title: Re: Race from $1M to $2M
Post by: ysette9 on March 13, 2019, 12:16:46 PM
I’ve always been more of a Honda person myself because i found them more fun to drive and less ugly than Toyota’s. :) That said, I’ve got a spend GTI now which is enormous fun. Our old Civic went 213k miles on the original clutch before we sold it; i was pretty impressed with that.
Title: Re: Race from $1M to $2M
Post by: ericbonabike on March 13, 2019, 12:26:02 PM
I went from $2 million to $900k in 2017 due to a divorce. (Don't know why she got 100k more than I did, but I considered the cost of poor judgement on my part).

Got remarried, and that took net worth up to $1 million.  In the last year and a half, we've saved/earned another $200k, so we're up to 1.2 million.

We've been struggling to break the 1.2 since October of 2018, when the market turned south. But I stayed the course, kept buying, kept saving.  Broke through it yesterday.  Found out my company ESOP just pushed their annual reassessment of privately held stock, and that pushes us up to 1.25 million.  Boom!

We shooting for about $1.5 to $2 million for FIRE.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on March 14, 2019, 07:11:27 PM
Keep up the good work.
Title: Re: Race from $1M to $2M
Post by: catccc on March 14, 2019, 07:23:05 PM
Toeing the line between single and double commas since August 2018.  8/9/18, 8/20/18, 9/11/18, and again 1/30/19.  Spent most of October-January under $1M.  It's a little frustrating.  I thought we'd just start to see our NW soar after hitting 1M, but the volatility keeps us guessing, for better or worse.  (lol, I also thought the same about hitting $500K, but didn't really feel that, either.)  Anyway, hoping to have enough to peace out in a year or two.  More likely will have enough for at least one of us, DH or me, to do so sooner than that, but I've yet to walk through the "not saving as much but not drawing down anything yet" math.

We also have an old Toyota, a 2005 Toyota matrix with 212K miles on it.  Not the original clutch, unfortunately.  Replaced that around 140K miles.  Thought about replacing the car last year after it passed 200K miles, but ultimately decided to stick it out.



Title: Re: Race from $1M to $2M
Post by: Bateaux on March 15, 2019, 05:08:07 AM
Toeing the line between single and double commas since August 2018.  8/9/18, 8/20/18, 9/11/18, and again 1/30/19.  Spent most of October-January under $1M.  It's a little frustrating.  I thought we'd just start to see our NW soar after hitting 1M, but the volatility keeps us guessing, for better or worse.  (lol, I also thought the same about hitting $500K, but didn't really feel that, either.)  Anyway, hoping to have enough to peace out in a year or two.  More likely will have enough for at least one of us, DH or me, to do so sooner than that, but I've yet to walk through the "not saving as much but not drawing down anything yet" math.

We also have an old Toyota, a 2005 Toyota matrix with 212K miles on it.  Not the original clutch, unfortunately.  Replaced that around 140K miles.  Thought about replacing the car last year after it passed 200K miles, but ultimately decided to stick it out.

Sometimes we get hung up on a milestone.  We've been on both sides of 2 million many times in past months.  It will also do it at 1.2 for you or possibly 2.3 for me or some other number.  You just notice the big ones more.  It will eventually pass it though if you stay the course.   My eleven year old Honda Accord with 205k is still getting me around.   Almost shameful for a millionaire to drive around in a car like that, should plop down a bunch of cash and make it available to a poor person to buy.  But, I'm greedy like that.
Title: Re: Race from $1M to $2M
Post by: talltexan on March 15, 2019, 07:51:52 AM
Toeing the line between single and double commas since August 2018.  8/9/18, 8/20/18, 9/11/18, and again 1/30/19.  Spent most of October-January under $1M.  It's a little frustrating.  I thought we'd just start to see our NW soar after hitting 1M, but the volatility keeps us guessing, for better or worse.  (lol, I also thought the same about hitting $500K, but didn't really feel that, either.)  Anyway, hoping to have enough to peace out in a year or two.  More likely will have enough for at least one of us, DH or me, to do so sooner than that, but I've yet to walk through the "not saving as much but not drawing down anything yet" math.

We also have an old Toyota, a 2005 Toyota matrix with 212K miles on it.  Not the original clutch, unfortunately.  Replaced that around 140K miles.  Thought about replacing the car last year after it passed 200K miles, but ultimately decided to stick it out.

 Almost shameful for a millionaire to drive around in a car like that, should plop down a bunch of cash and make it available to a poor person to buy.  But, I'm greedy like that.

The culture of this site has retrained me so that--when I see a guy in workout clothes walk into the bank, or I see someone on a bike--I think, "There's someone who's a real millionaire!"
Title: Re: Race from $1M to $2M
Post by: Arbitrage on March 15, 2019, 08:44:07 AM

The culture of this site has retrained me so that--when I see a guy in workout clothes walk into the bank, or I see someone on a bike--I think, "There's someone who's a real millionaire!"

One of my biggest personal issues since converting to a bike-based lifestyle is my 'smug' (reference a South Park episode where Prius drivers emitted smug, rather than smog).  I can't help feeling annoyance at the rampant waste of all of the giant trucks/SUVs/luxury cars everywhere, cutting me off and driving stupidly.  I mostly keep my smug internal, but I imagine that the smug pressure builds and a bit pops out every now and again. 
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on March 16, 2019, 06:26:07 PM
Well I didn't make it to the 7 figure club because of a Toyota, I had a Jetta.  It wasn't for lack of trying, my first choice was actually a Toyota Echo when I was car shopping back in the day but the sales guy told me he couldn't find one with antilock breaks which was a need for me.  I walked, now I sit here and wonder if it was really that hard to find in 2000.

Oh well, the Jetta lasted me 15 years until I replaced it pre MMM days with a Jeep Renegade even though I hadn't completely driven it into the ground.
Title: Re: Race from $1M to $2M
Post by: ted1858 on March 18, 2019, 02:13:09 PM
Joining the group here. We entered the year at $1.1MM. Myself 32 and wife 34 in a HCOL city with one kid. The invested stash is 0.95MM, rest is home equity. Our income is pretty lumpy due to meaningful component coming in the form of a YE bonus. I'm DCAing the bonus but wishing I had dumped it all in when I received it at beginning of January. I figure it will take 3-4 years to get to the 2MM mark.

History:
1/2015: 0.42 MM
1/2016: 0.56 MM
1/2017: 0.84 MM
1/2018: 0.95 MM
1/2019: 1.10 MM
Title: Re: Race from $1M to $2M
Post by: AccidentalMiser on March 18, 2019, 07:50:13 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. 
Title: Re: Race from $1M to $2M
Post by: Roboturner on April 01, 2019, 11:34:32 AM
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
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on April 02, 2019, 04:45:48 AM
Chip, Chip, Chip.  After seeing the market was up again yesterday I eagerly awaited this morning to see that I had crossed over the $1.5 million mark. 
Title: Re: Race from $1M to $2M
Post by: ysette9 on April 02, 2019, 04:57:18 AM
Congrats!

The recent market generosity means we have just crossed over the $2m mark. I expect I’ll bounce back and forth between this group and the $2-$3m club as the market giveth and taketh away.
Title: Re: Race from $1M to $2M
Post by: Bloop Bloop on April 02, 2019, 05:56:15 AM
Q1 2019 report
income (gross) - me $62k
partner $14k
rent $7k

expenses - business $10k
expenses - rental $2k
interest - rental $7k
expenses - living $7k
bills - 4k

tax - gst 5k
tax - income (me) 15k
tax - income (partner) 3k
tax - student loans (partner) 1k

total income 83k
total expenses 30k
net income 52k
total tax / debt payments 24k
net savings 28k

i have about 1.5m in property (residential and rental) but property went down 3% this quarter so that is a $45k loss

total net position -17k

Ouch. On track to lose nearly $70k for the year. Oh well, better luck next quarter. :) Gotta take the good with the bad.
Title: Re: Race from $1M to $2M
Post by: Roboturner on April 02, 2019, 04:40:25 PM
Congrats!

The recent market generosity means we have just crossed over the $2m mark. I expect Iíll bounce back and forth between this group and the $2-$3m club as the market giveth and taketh away.

Whoop Whoop Whoop!
Title: Re: Race from $1M to $2M
Post by: Travis on April 03, 2019, 09:59:53 AM
Added a second comma last week.  Upgrading my membership.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 03, 2019, 04:35:41 PM
The recent market generosity means we have just crossed over the $2m mark. I expect Iíll bounce back and forth between this group and the $2-$3m club as the market giveth and taketh away.
Big congratulations to you!  :-)
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 06, 2019, 08:50:45 AM
I finally reached the $1.6 million mark!!  It was a wild ride from $1.5 to $1.6!!  :-)
Title: Re: Race from $1M to $2M
Post by: itchyfeet on April 07, 2019, 12:43:37 PM
Looks like there will be a bunch of you joining those of us in the >$2M thread pretty soon.

My first million took 20 years. 2nd million took 4 years.
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on April 08, 2019, 06:17:42 AM
Apr '18: TNW $1.60M, LNW $1.30M
Apr '19: TNW $1.80M, LNW $1.44M

Last year LNW went above $1.4M several times in the July-Sept period, then sat stubbornly below that starting in October.  We finally got back over $1.4M a month or two ago, and have stayed above it for a couple weeks.  I decided to post an update because TNW crested $1.8M (for the first time) on Friday.
Title: Re: Race from $1M to $2M
Post by: arebelspy on April 09, 2019, 06:26:47 PM
My first million took 20 years. 2nd million took 4 years.

A lot of us FIRE'd after the first, so the second is coming along slowly versus if we still had a paycheck.

The first million took me about 5 years (about 8 years of working, but the first three years of working I had 0/negative NW because of the housing crash, so 5-8 years depending on how you count it).

Quit at 1.2MM, now almost 1.8. It has been about 4 years, and I anticipate it'll take another one, depending on market conditions. So 0 to 1MM will be similar to 1MM to 2MM, for me. I'd be content if #3 took the same amount of time.

Expenses are shooting up though, so I'm skeptical.
Title: Re: Race from $1M to $2M
Post by: talltexan on April 10, 2019, 12:32:17 PM
For second tax year in a row, my wife and I exceeded the AGI to contribute to my Roth.

I just faxed in a form to remove about $4,500 in contributions. Last year I used the same form to simply reclassify them as 2018 contributions (instead of 2017), but this year I've accepted that I just need to put the money somewhere else.

RPP.
Title: Re: Race from $1M to $2M
Post by: ysette9 on April 10, 2019, 01:03:16 PM
For second tax year in a row, my wife and I exceeded the AGI to contribute to my Roth.

I just faxed in a form to remove about $4,500 in contributions. Last year I used the same form to simply reclassify them as 2018 contributions (instead of 2017), but this year I've accepted that I just need to put the money somewhere else.

RPP.
Backdoor Roth, baby! That is what I do, since I didnít have a traditional IRA balance to begin with. My husband has a decent-sized traditional IRA, we donít want to deal with pro rata nonsense nor does it make sense to convert to Roth at this point, so he just doesnít contribute to an IRA now.
Title: Re: Race from $1M to $2M
Post by: arebelspy on April 10, 2019, 01:52:18 PM
For second tax year in a row, my wife and I exceeded the AGI to contribute to my Roth.

Hah. What a great problem to have!

Our AGI is not even a third of where the phaseout starts.
Title: Re: Race from $1M to $2M
Post by: talltexan on April 11, 2019, 09:33:07 AM
Indeed my wife has done the backdoor Roth last two years. I have another IRA besides my work 401K which I think prevents that.

The money will probably just wind up in a pre-tax account, which better suits the investment order anyway.
Title: Re: Race from $1M to $2M
Post by: couponvan on April 12, 2019, 12:07:57 PM
I quit collecting paychecks in October 2018. Officially put myself on "smoke break" status through at least the end of Summer by quitting my job 3/29/19. (3-2-1 GO...) My original planned FIRE date was 4/1/22. 

We are at $1.71 TNW as of today while cash flowing college for the oldest.  The savings rate will slow dramatically at this point with me not working and college expenses (out-of-state tuition for the oldest - in line with our values though - and travel from West Coast to East Coast for breaks).  We're closing on a new house 5/15/19, which will also eat up some cash.  DH continues to work and earn to support our clown car fancy pants lifestyle.  I DIY, travel hack, and coupon where I can. :-)

It will be a marathon vs. a sprint for us to get to $2.0M.
Title: Re: Race from $1M to $2M
Post by: oldtoyota on April 12, 2019, 12:16:38 PM
Looks like there will be a bunch of you joining those of us in the >$2M thread pretty soon.

My first million took 20 years. 2nd million took 4 years.

What a difference! Thank you for sharing this.

Did you contribute more in those 4 years or did the first million do most of the work?
Title: Re: Race from $1M to $2M
Post by: itchyfeet on April 13, 2019, 01:25:57 AM
It was a combination of both

My career took off in my late 30s, so I was able to save a lot.

I also got lucky with property purchases I had made.

Finally, I became far more aware of my finances, and improved my spending behaviours. I am not so much talking about frugal living but more the big ticket items like home renovations and cars, which we stopped throwing money at.
Title: Re: Race from $1M to $2M
Post by: guelphinvestor on April 18, 2019, 01:17:30 PM
Hit investment net worth of 1.1 million today

Sent from my Nexus 5 using Tapatalk

Title: Re: Race from $1M to $2M
Post by: couponvan on April 19, 2019, 06:27:40 PM
Hit investment net worth of 1.1 million today

Sent from my Nexus 5 using Tapatalk

SWEET!!!!
Title: Re: Race from $1M to $2M
Post by: cloudsail on April 22, 2019, 05:14:45 PM
PTF. Our investable assets are at $1.68M right now. Aiming for $2M.

Does it bother anyone else that at this point in your journey, fluctuations in the market do much more to your net worth than what you're actually saving each month?
Title: Re: Race from $1M to $2M
Post by: guelphinvestor on April 22, 2019, 05:15:50 PM
PTF. Our investable assets are at $1.68M right now. Aiming for $2M.

Does it bother anyone else that at this point in your journey, fluctuations in the market do much more to your net worth than what you're actually saving each month?
Yes I find the same thing

Sent from my Nexus 5 using Tapatalk

Title: Re: Race from $1M to $2M
Post by: Brother Esau on April 22, 2019, 05:31:08 PM
PTF. Our investable assets are at $1.68M right now. Aiming for $2M.

Does it bother anyone else that at this point in your journey, fluctuations in the market do much more to your net worth than what you're actually saving each month?
Yes I find the same thing

Sent from my Nexus 5 using Tapatalk

I don't find it bothersome at all, but yet exiting.
Title: Re: Race from $1M to $2M
Post by: guelphinvestor on April 22, 2019, 05:35:21 PM
PTF. Our investable assets are at $1.68M right now. Aiming for $2M.

Does it bother anyone else that at this point in your journey, fluctuations in the market do much more to your net worth than what you're actually saving each month?
Yes I find the same thing

Sent from my Nexus 5 using Tapatalk

I don't find it bothersome at all, but yet exiting.
Yes, I just meant that I noticed it.
I agree it is more exciting than bothersome

Sent from my LG-V522 using Tapatalk

Title: Re: Race from $1M to $2M
Post by: cloudsail on April 22, 2019, 06:08:45 PM
PTF. Our investable assets are at $1.68M right now. Aiming for $2M.

Does it bother anyone else that at this point in your journey, fluctuations in the market do much more to your net worth than what you're actually saving each month?
Yes I find the same thing

Sent from my Nexus 5 using Tapatalk

I don't find it bothersome at all, but yet exiting.
Yes, I just meant that I noticed it.
I agree it is more exciting than bothersome

Sent from my LG-V522 using Tapatalk

I guess it is mostly a good feeling for me too, just sometimes feels like what's the point of working so hard now when all we really need to do is coast until we hit our number.

Like when we used to save $10,000 a month, it was like yeah! Now it's more like, meh.
Title: Re: Race from $1M to $2M
Post by: couponvan on April 23, 2019, 05:37:00 AM
It's been six years of up...the painful part is when there are downs - then you saved $10,000 when it feels like you might as well have spent it vs. having the markets eat it.  You try to tell yourself you're buying on sale, but it still hurts to not time the market. ;-)
Title: Re: Race from $1M to $2M
Post by: sisto on April 25, 2019, 09:20:25 AM
My liquid NW is now solidly over the 1M hump so I will start hanging over here more now.
Title: Re: Race from $1M to $2M
Post by: couponvan on April 25, 2019, 09:47:50 AM
My liquid NW is now solidly over the 1M hump so I will start hanging over here more now.

Hello!  It's a transient group this $1M-$2M....the second million is faster than the first for sure!
Title: Re: Race from $1M to $2M
Post by: Enigma on April 25, 2019, 10:11:35 AM
I should have posted here a while back.

2017-Jan - NW $1.009MM
2018-Jan - NW $1.184MM
2019-Jan - NW $1.302MM

(MM for million)

I quit my full time job overseas and tried to FIRE in Oct-2018 ($1.29M).  Instead I found it pretty stressful (Rental Taxes/Ins & Personal Taxes/Ins).  Landed a job in Mar-2019 back in computers/IT.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 26, 2019, 08:35:09 PM
My liquid NW is now solidly over the 1M hump so I will start hanging over here more now.

Last night we hit $1 M NW!
Good stuff!  Welcome to the thread!
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on April 26, 2019, 09:34:51 PM
some of the NW is Zillow enthusiasm

Sorry to be a bit of a wet blanket, but we're taking the hit from that right now as we sell our primary residence. Still selling for a nice profit and it went under contract in two days which was great, but when push came to shove we landed on an asking and sale price that was about 4% less than the enthusiastic Zestimate. I had been using Zillow to calculate that part of our net worth for years and never applied any kind of discount, even for selling costs, because for a long time the Zestimate was clearly below the actual market value. Then in the past couple years it caught up and then some, and I continued to use it despite my skepticism...for consistency's sake I told myself. So even though the stock market is hitting all-time highs, our net worth is about to be rolled back approximately a month to early April (shrug). In the grand scheme, hopefully it's just a rounding error.
Title: Re: Race from $1M to $2M
Post by: cloudsail on April 27, 2019, 12:57:47 AM
Uncertain real estate estimates are why I don't really like to look at net worth. We have two rental properties and a primary residence. One of the zestimates on a rental is probably about 100k more than what it would actually sell for. In that case I actually stopped linking Zillow and put in an estimated value. I generally just look at investable assets and then add our rental income on top of that.
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on April 27, 2019, 09:23:28 PM
The weird thing about Zestimate is that it had my house valued increasingly higher these last six months up to a high of around $464,000  just last week.
Then I looked at it again on Friday and low and behold the Zestimate which had been rising at a very stable moderate pace suddenly was down $30,000 to an estimate of $434,000
Yet this lowered price according to the Zestimate was an increase from the previous month, which it is not.
Just makes no sense.
Title: Re: Race from $1M to $2M
Post by: Enigma on April 28, 2019, 06:23:13 AM
For the value of my investment properties and the primary house, I tend to set them at the rate I bought them.  That being said I have adjusted only a couple of times.  Once when I received an offer and the other time after a bank appraisal.  Even then I didn't jump up fast. Just a 5% increase each time.  Half was bought between 2010-2013 and the other half was bought between 2016/2017.  This helps with my capitalization rate (Around 8%) and exceeding the 1% rule rent-vs-cost ratio.
Title: Re: Race from $1M to $2M
Post by: Zoot on April 29, 2019, 07:00:06 AM
Super-long time since I've posted in this thread--time for a new update!

Month/YearLiquid AssetsTotal Net Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K
Feb-18$823K$1,083K
Mar-18$812K$1,081K
Apr-18$818K$1,094K
May-18$836K$1,115K
Jun-18$844K$1,131K
Jul-18$872K$1,165K
Aug-18$891K$1,175K
Sep-18$895K$1,177K
Oct-18$844K$1,127K
Nov-18$864K$1,148K
Dec-18$813K$1,099K
Jan-19$872K$1,158K
Feb-19$912K$1,201K
Mar-19$927K$1,220K
Apr-19$962K$1,257K

Q4 2018 was a rough time, of course--it was hard to see "dollars" evaporating like that.  But we held our breath and kept plugging away at saving/investing.  The coolest thing to me to see in the numbers above:  we now ALMOST qualify to be in this thread on non-home-equity net worth.  ;-)

Onward!

(posting also in the $500K to $1M thread for account balance)
Title: Re: Race from $1M to $2M
Post by: Arbitrage on April 29, 2019, 08:28:08 AM
some of the NW is Zillow enthusiasm

Sorry to be a bit of a wet blanket, but we're taking the hit from that right now as we sell our primary residence. Still selling for a nice profit and it went under contract in two days which was great, but when push came to shove we landed on an asking and sale price that was about 4% less than the enthusiastic Zestimate. I had been using Zillow to calculate that part of our net worth for years and never applied any kind of discount, even for selling costs, because for a long time the Zestimate was clearly below the actual market value. Then in the past couple years it caught up and then some, and I continued to use it despite my skepticism...for consistency's sake I told myself. So even though the stock market is hitting all-time highs, our net worth is about to be rolled back approximately a month to early April (shrug). In the grand scheme, hopefully it's just a rounding error.

I use the Redfin estimate for my house, then discount it 5%.  I used to use an average of various online estimators, including Zillow, but quit as some of them stopped operating or became redundant with Zillow. 

Zestimate has always been terribly low for my house (judging upon actual sale price as well as nearby comps).  I believe part of the reason is that their algorithm includes comps from a neighboring city that has much worse schools, which reflects in about a 20-30% discount in reality. 

We'll see how it eventually shakes out.  I certainly don't take any house value estimates as set in stone. 
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on April 29, 2019, 09:41:37 AM
some of the NW is Zillow enthusiasm

Sorry to be a bit of a wet blanket, but we're taking the hit from that right now as we sell our primary residence. Still selling for a nice profit and it went under contract in two days which was great, but when push came to shove we landed on an asking and sale price that was about 4% less than the enthusiastic Zestimate. I had been using Zillow to calculate that part of our net worth for years and never applied any kind of discount, even for selling costs, because for a long time the Zestimate was clearly below the actual market value. Then in the past couple years it caught up and then some, and I continued to use it despite my skepticism...for consistency's sake I told myself. So even though the stock market is hitting all-time highs, our net worth is about to be rolled back approximately a month to early April (shrug). In the grand scheme, hopefully it's just a rounding error.

I use the Redfin estimate for my house, then discount it 5%.  I used to use an average of various online estimators, including Zillow, but quit as some of them stopped operating or became redundant with Zillow. 

Zestimate has always been terribly low for my house (judging upon actual sale price as well as nearby comps).  I believe part of the reason is that their algorithm includes comps from a neighboring city that has much worse schools, which reflects in about a 20-30% discount in reality. 

We'll see how it eventually shakes out.  I certainly don't take any house value estimates as set in stone.

Yep, I find Redfin to be much more accurate and stable (incidentally, went with them as our listing agent). But I used Zillow to calculate NW because 1) that's what Personal Capital uses and 2) it was initially more conservative than the Redfin estimate.
Title: Re: Race from $1M to $2M
Post by: Tracyl-5 on April 30, 2019, 05:37:51 PM
Officially joining this thread... Hit $1M for the first time today!  $500K to $1M took 3.5 years.  Wonder how long for the next $500K?  Currently saving about 30% of our gross...

Mth/Yr         Liquid Assets
Oct 2015     $513K
Apr 2019     $1,020K
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on April 30, 2019, 10:26:30 PM
@Tracyl-5 Welcome to the thread!  Where do you live in Hawaii?
Title: Re: Race from $1M to $2M
Post by: Dicey on April 30, 2019, 10:58:12 PM
Wondering, though, are Zillow numbers considered accurate?
Sometimes they are, sometimes they aren't ;-)
Title: Re: Race from $1M to $2M
Post by: Arbitrage on May 01, 2019, 08:31:44 AM
The weird thing about Zestimate is that it had my house valued increasingly higher these last six months up to a high of around $464,000  just last week.
Then I looked at it again on Friday and low and behold the Zestimate which had been rising at a very stable moderate pace suddenly was down $30,000 to an estimate of $434,000
Yet this lowered price according to the Zestimate was an increase from the previous month, which it is not.
Just makes no sense.

Yes, I've definitely noticed that these online estimators 'back-correct' their data.  The numbers I record don't match up with their supposedly archived data later on. 
Title: Re: Race from $1M to $2M
Post by: cloudsail on May 01, 2019, 08:47:56 AM
Here's another weird thing that's messing with our net worth. My husband has RSUs that vest over four years. He still has some years left to go. But Fidelity is showing the value of ALL the shares, including unvested. This makes zero sense to me. I've had to deactivate this account in Mint, but in a couple weeks he will have a major vesting and I don't know how to add these vested shares to our net worth.
Title: Re: Race from $1M to $2M
Post by: sisto on May 01, 2019, 11:52:14 AM
Here's another weird thing that's messing with our net worth. My husband has RSUs that vest over four years. He still has some years left to go. But Fidelity is showing the value of ALL the shares, including unvested. This makes zero sense to me. I've had to deactivate this account in Mint, but in a couple weeks he will have a major vesting and I don't know how to add these vested shares to our net worth.
It depends on the brokerage. When my RSUs were with UBS they showed the unvested portion, but now they are at ETrade and are excluded. You can exclude it using filters, that's what I used to do.
Title: Re: Race from $1M to $2M
Post by: cloudsail on May 01, 2019, 12:30:53 PM
Here's another weird thing that's messing with our net worth. My husband has RSUs that vest over four years. He still has some years left to go. But Fidelity is showing the value of ALL the shares, including unvested. This makes zero sense to me. I've had to deactivate this account in Mint, but in a couple weeks he will have a major vesting and I don't know how to add these vested shares to our net worth.
It depends on the brokerage. When my RSUs were with UBS they showed the unvested portion, but now they are at ETrade and are excluded. You can exclude it using filters, that's what I used to do.

Filters in Mint or in the brokerage?
Title: Re: Race from $1M to $2M
Post by: Tracyl-5 on May 01, 2019, 01:52:12 PM
@Tracyl-5 Welcome to the thread!  Where do you live in Hawaii?

Thanks!  We live on Kauai... 13 years now!  It's great for a lot of things, but also expensive, remote, and far from family.  We will move back to the mainland when we FIRE.  The unknown costs of living there make it difficult to know what our number is, so we'll see.  Maybe we work for another year or so once we're back on the mainland just to feel things out. 
Title: Re: Race from $1M to $2M
Post by: Allie on May 01, 2019, 02:16:14 PM
Iíd like to join the race...Iíd love to get to 1.6 this year, but with the stuff we have planned (like surgeries and house repairs) 1.5 is more likely.  Fingers crossed for nice, steady investment growth and no unexpected emergencies!

That was an unexpected jump these last few weeks...

1/19 - TNW 1.47; LNW 1.33
4/19 - TNW 1.61; LNW 1.47
Title: Re: Race from $1M to $2M
Post by: talltexan on May 02, 2019, 10:59:52 AM
I, too, was surprised to see a ton of growth when I logged into my 401K this morning. balance was approximately 10% higher than expected.
Title: Re: Race from $1M to $2M
Post by: sherr on May 02, 2019, 01:19:44 PM
The weird thing about Zestimate is that it had my house valued increasingly higher these last six months up to a high of around $464,000  just last week.
Then I looked at it again on Friday and low and behold the Zestimate which had been rising at a very stable moderate pace suddenly was down $30,000 to an estimate of $434,000
Yet this lowered price according to the Zestimate was an increase from the previous month, which it is not.
Just makes no sense.

Yes, I've definitely noticed that these online estimators 'back-correct' their data.  The numbers I record don't match up with their supposedly archived data later on.

Note that Zillow never claims that chart is "archived data". It's a graph of what the house was worth over time (supposedly), not of what Zillow was claiming it was worth over time.
Title: Re: Race from $1M to $2M
Post by: sherr on May 02, 2019, 01:22:39 PM
Here's another weird thing that's messing with our net worth. My husband has RSUs that vest over four years. He still has some years left to go. But Fidelity is showing the value of ALL the shares, including unvested. This makes zero sense to me. I've had to deactivate this account in Mint, but in a couple weeks he will have a major vesting and I don't know how to add these vested shares to our net worth.

Have you had a vesting event already? I have RSUs at Fidelity, and when they vest they are transferred from the RSU account into my personal account. So I do the same thing as you; block the RSU account out in Mint because that's not "my money" yet. But there's nothing I have to do to get it to show up after they vest because my personal account is not blocked.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on May 02, 2019, 01:30:17 PM
Thanks!  We live on Kauai... 13 years now!  It's great for a lot of things, but also expensive, remote, and far from family.  We will move back to the mainland when we FIRE.  The unknown costs of living there make it difficult to know what our number is, so we'll see.  Maybe we work for another year or so once we're back on the mainland just to feel things out.
Nice!  I lived on Oahu for six years and ventured out to Kauai one time.  I would love to return to Kauai and finish the Kalalau Trail when it reopens.
Title: Re: Race from $1M to $2M
Post by: cloudsail on May 02, 2019, 01:43:00 PM
Here's another weird thing that's messing with our net worth. My husband has RSUs that vest over four years. He still has some years left to go. But Fidelity is showing the value of ALL the shares, including unvested. This makes zero sense to me. I've had to deactivate this account in Mint, but in a couple weeks he will have a major vesting and I don't know how to add these vested shares to our net worth.

Have you had a vesting event already? I have RSUs at Fidelity, and when they vest they are transferred from the RSU account into my personal account. So I do the same thing as you; block the RSU account out in Mint because that's not "my money" yet. But there's nothing I have to do to get it to show up after they vest because my personal account is not blocked.

Oh, that's good to know, thanks!

No we haven't vested in Fidelity yet. Our other shares are with Morgan Stanley and my husband just recently switched to Fidelity for the next vesting.
Title: Re: Race from $1M to $2M
Post by: Tracyl-5 on May 02, 2019, 05:59:24 PM
Nice!  I lived on Oahu for six years and ventured out to Kauai one time.  I would love to return to Kauai and finish the Kalalau Trail when it reopens.

Cool, Oahu is my weekend getaway when I get island fever!  That Kalalau trail is a killer!  I've never gone the whole way, not sure if I'd be brave enough for the narrow part on a cliff.  It's supposed to re-open soon, but they keep pushing it back.  I do love to hike, but all the rain and mud here make it tough!
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on May 02, 2019, 06:47:51 PM
In the zillow vs. redfin neither estimate my homes value well.  Both are below what I paid for my place 2 years ago in a neighborhood where sales have significantly increased this year.  For net worth purposes, I gave a slight premium to what I paid because I bought a fixer and well fixed.  But the number I use is only purchase price plus 66% of renovation costs.
Title: Re: Race from $1M to $2M
Post by: Goldy on May 08, 2019, 07:36:06 AM
Well it's been fun but it's time for me to move on.....to the 2-3M race.

We cracked the multi million mark a couple days ago thanks to the incredible 2019 returns so far.  It took us 9 years to hit the first million and 3 years plus one month to hit the second.  Dual incomes is the secret in my opinion, that and starting early.  We never had silly salaries, in fact we never made 6 figure salaries until just a few days ago but having that second salary going directly into savings was key.  Now we need to get serious about deciding how much is enough.
Title: Re: Race from $1M to $2M
Post by: Enigma on May 08, 2019, 09:30:27 AM
Well it's been fun but it's time for me to move on.....to the 2-3M race.

We cracked the multi million mark a couple days ago thanks to the incredible 2019 returns so far.  It took us 9 years to hit the first million and 3 years plus one month to hit the second.  Dual incomes is the secret in my opinion, that and starting early.  We never had silly salaries, in fact we never made 6 figure salaries until just a few days ago but having that second salary going directly into savings was key.  Now we need to get serious about deciding how much is enough.
Congratulations!  I cannot imagine that I can make my 2nd mil in just 3 years...  So the key is having a second salary?  I guess dating starts tonight.
Title: Re: Race from $1M to $2M
Post by: couponvan on May 08, 2019, 09:42:48 AM
Well it's been fun but it's time for me to move on.....to the 2-3M race.

We cracked the multi million mark a couple days ago thanks to the incredible 2019 returns so far.  It took us 9 years to hit the first million and 3 years plus one month to hit the second.  Dual incomes is the secret in my opinion, that and starting early.  We never had silly salaries, in fact we never made 6 figure salaries until just a few days ago but having that second salary going directly into savings was key.  Now we need to get serious about deciding how much is enough.
Congratulations!  I cannot imagine that I can make my 2nd mil in just 3 years...  So the key is having a second salary?  I guess dating starts tonight.

I just spit laughed...thanks for that.  The key is having a second salary that is ALSO in the same club you are as opposed to the spending club the majority of the world is in. 
Title: Re: Race from $1M to $2M
Post by: talltexan on May 09, 2019, 12:10:34 PM
My wife and I have two nice incomes. It takes a whole lot more than that to get to $2,000,000. I see a lot of two-income couples out there who are still in six-digit (or less) NW range.
Title: Re: Race from $1M to $2M
Post by: Bloop Bloop on May 09, 2019, 07:38:48 PM
Well it's been fun but it's time for me to move on.....to the 2-3M race.

We cracked the multi million mark a couple days ago thanks to the incredible 2019 returns so far.  It took us 9 years to hit the first million and 3 years plus one month to hit the second.  Dual incomes is the secret in my opinion, that and starting early.  We never had silly salaries, in fact we never made 6 figure salaries until just a few days ago but having that second salary going directly into savings was key.  Now we need to get serious about deciding how much is enough.
Congratulations!  I cannot imagine that I can make my 2nd mil in just 3 years...  So the key is having a second salary?  I guess dating starts tonight.

I just spit laughed...thanks for that.  The key is having a second salary that is ALSO in the same club you are as opposed to the spending club the majority of the world is in.

I think a large aspect, as Goldy acknowledged, is having decent returns. Even if you have two earners on $100k before tax (say $80k after tax), then even with frugal living, you would not be able to save more than about $140,000 per year. So with normal compounding, that won't even get you to $450,000 after three years. You need strong returns and re-investment.

Having a second income does help a lot, though, simply because 2 people on $100k get taxed a hell of a lot less than one person on $200k, at least in my country.
Title: Re: Race from $1M to $2M
Post by: redhead84 on May 14, 2019, 03:23:44 PM
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.
Title: Re: Race from $1M to $2M
Post by: beeboy on May 21, 2019, 01:44:35 PM
Hello all.

It was recommended to me from Couponvan that I join this thread. I'm currently at about 1.4 mil in invested assets (a mix of a brokerage account, annuity, REIT, 401K, cash and savings). Much of my gains lately have been thanks to the unbelievable stock market and I'm hoping to hit 2 mil within four years at which point I'll consider myself FIRE-D at 48 (I'm currently 44). Happy to be here and add to the discussion or answer any questions.

Hi everyone. I thought I'd check back in and provide an update on my finances. Currently at around 1.7 mil in invested assets (about 2.0 mil NW, but I'm not counting my home in this calculation, so I'm staying in this 1M - 2M group). Most of the extra 300K since Jan. 2018 has come via market returns, and additional savings (including 100K from the partial sale of part of the business I have a stake in). My current assets breakdown is approx.:

-Morgan Stanley Brokerage Acct. - 850K
-Fidelity Acct. (cash and ETFs) - 30K
-401k - 535K
-CDs - 200K
-Savings - 65K
-Checking - 20K

In addition, I've moved my FIRE date up to March/April 2020 (or sooner, can't take the rat race anymore), lowered my FIRE age to 46 (I'm currently 45) and I've lowered my desired FIRE stash to 1.8 mil. (or whatever I have in 10 or 11 months from now). Anyway, I hope everyone is well on their way to their goal and making good progress towards freedom!
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on June 05, 2019, 12:18:41 PM
We're pretty much flat over the last ~12 months.  LNW is up around 6%, mostly due to pre-tax contributions.  We've been oscillating around $1.4M for most of the last year.  TNW is up just a bit more than LNW due to the dwindling mortgage.
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on June 10, 2019, 09:54:33 PM
Making some progress again, hopefully I can hit the $1.5MM mark soon! After that, it's all downhill from there! Well at least until the recession kicks in, then it'll be a different kind of downhill lol

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50
Title: Re: Race from $1M to $2M
Post by: SparkyPeanut on June 12, 2019, 07:29:39 PM
Making some progress again, hopefully I can hit the $1.5MM mark soon! After that, it's all downhill from there! Well at least until the recession kicks in, then it'll be a different kind of downhill lol

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50

That's amazing progress!  How did you accomplish this at such a young age - are you a very high earner, hardcore saver or expert investor...?
Title: Re: Race from $1M to $2M
Post by: Bateaux on June 13, 2019, 02:55:25 AM
Making some progress again, hopefully I can hit the $1.5MM mark soon! After that, it's all downhill from there! Well at least until the recession kicks in, then it'll be a different kind of downhill lol

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50

That's amazing progress!  How did you accomplish this at such a young age - are you a very high earner, hardcore saver or expert investor...?

I'm thinking he's a preacher at a mega-church.
Title: Re: Race from $1M to $2M
Post by: arebelspy on June 13, 2019, 08:37:32 AM

That's amazing progress!  How did you accomplish this at such a young age - are you a very high earner, hardcore saver or expert investor...?

He was spending in the realm of 5-7k/yr for most of those years, while making a good salary. Check out his journal for more details.
Title: Re: Race from $1M to $2M
Post by: tipster350 on June 13, 2019, 08:37:53 AM
His parents buy his underwear and socks.
Title: Re: Race from $1M to $2M
Post by: Bateaux on June 13, 2019, 08:48:38 AM
Cheering him on to the next thread.  He'll be there and passing us soon!
Title: Re: Race from $1M to $2M
Post by: beeboy on June 19, 2019, 01:53:12 PM
The last few days have been really good in the market. I was a good amount below 1.7 mil (which was where I was at when I first posted here about a month ago), but now at about 1.715 mil at market close. I hope everyone here has been pushing closer (or even getting a little over) the 2 mil mark!
Title: Re: Race from $1M to $2M
Post by: cloudsail on June 19, 2019, 03:28:48 PM
Yep, I'm at 1.87M now, hoping to reach 2M soon!
Title: Re: Race from $1M to $2M
Post by: TempusFugit on June 19, 2019, 04:17:26 PM
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.


Phew!  I can finally leave the vestibule and come in to hang out by the champagne and caviar : )

The recent uptick has pushed my LNW into double commas.  No going back now!*

I have saved a Cuban cigar that a coworker gave me about a year ago that I plan to light up while enjoying an Old Fashioned cocktail. 

* I dont plan to check account balances anytime soon.  No upside to that in the near future. 
Title: Re: Race from $1M to $2M
Post by: cloudsail on June 19, 2019, 04:30:50 PM
What does LNW stand for?
Title: Re: Race from $1M to $2M
Post by: arebelspy on June 19, 2019, 04:38:34 PM
Liquid net worth, I'd guess (versus total net worth).
Title: Re: Race from $1M to $2M
Post by: cloudsail on June 19, 2019, 04:48:24 PM
Liquid net worth, I'd guess (versus total net worth).

Ah, makes sense now, thanks.

Yes, that's what I'm tracking too, not including real estate. We have two rental properties, not planning to acquire any more.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on June 19, 2019, 05:01:01 PM
Liquid net worth, I'd guess (versus total net worth).

Ah, makes sense now, thanks.

Yes, that's what I'm tracking too, not including real estate. We have two rental properties, not planning to acquire any more.

Yep, liquid net worth, since that is the number i use for calculating safe withdrawal rate during my eventual retirement.  I don't own any rental properties, just my primary residence.   
Title: Re: Race from $1M to $2M
Post by: beeboy on June 20, 2019, 09:10:13 AM
You guys have room for one more? 

I discovered yesterday that I've crossed the threshold by a nose (TNW >= $1M smackeroos). 

I'll just hang out here in the vestibule for a bit whilst my LNW catches up.  If 2018 is anything like 2017 that'll be soon. 

Meanwhile, I'll try to observe the proper mannerisms:  Choosing the right eating utensil for each course, using a cigar cutter, sabering bottles of champagne, you know, typical millionaire stuff. 

Back in the 500K-1M group, we're still eating burgers while drinking Budweiser and cheap whiskey so it may take a few months to adjust.


Phew!  I can finally leave the vestibule and come in to hang out by the champagne and caviar : )

The recent uptick has pushed my LNW into double commas.  No going back now!*

I have saved a Cuban cigar that a coworker gave me about a year ago that I plan to light up while enjoying an Old Fashioned cocktail. 

* I dont plan to check account balances anytime soon.  No upside to that in the near future.

Congrats! That's the big one - reaching millionaire status (even though they say 1 million isn't what it used to be) is still an amazing feat and definitely worth celebrating. It's that big number (omg - that person's a millionaire!) that seemed like such a huge deal when you were a kid and an unreachable goal during your first years of working. It's crazy that by saving diligently year after year and making investments in the market, it's a goal that is attainable for so many. Even with making financial mistakes - and I've made more than a few.

BTW - you may want to look at your account balances again today. I'm up to 1.722 mil (11k higher than just yesterday). The market is really crazy and a little scary right now. It can't keep going up forever so I'll have to prepare myself to be significantly down at some point, but you should enjoy days/weeks like this.
Title: Re: Race from $1M to $2M
Post by: Roboturner on July 01, 2019, 10:46:33 AM
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

Big changes, we bought a new (bigger) house & sold our old one - made enough on the sale to cover the DP on the new one & unlock another 100k for the market machine, so pretty decent all told. My projections have us graduating in LNW sometime Q2/Q3 next year, hopefully the economy keeps trucking!
Title: Re: Race from $1M to $2M
Post by: wannabe-stache on July 02, 2019, 09:56:10 AM
yesterday was the first day i passed the $2M mark on my own (excludes house and DW's net worth).

it could, perhaps will, dip down again below $2M, but for now, i am appreciating the view from above the clouds. at 39 y/o i am lucky to be able to continue saving through forthcoming bear markets.

Title: Re: Race from $1M to $2M
Post by: iluvzbeach on July 02, 2019, 02:59:13 PM
yesterday was the first day i passed the $2M mark on my own (excludes house and DW's net worth).

it could, perhaps will, dip down again below $2M, but for now, i am appreciating the view from above the clouds. at 39 y/o i am lucky to be able to continue saving through forthcoming bear markets.

@wannabe-stache That is awesome. Iím 100% certain if that were me I would be O.U.T!
Title: Re: Race from $1M to $2M
Post by: Zoot on July 04, 2019, 04:07:19 AM
Well, guys, I'm finally truly qualified to post in this thread!  Updated numbers below:

Month/YearLiquid AssetsTotal Net Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K
Feb-18$823K$1,083K
Mar-18$812K$1,081K
Apr-18$818K$1,094K
May-18$836K$1,115K
Jun-18$844K$1,131K
Jul-18$872K$1,165K
Aug-18$891K$1,175K
Sep-18$895K$1,177K
Oct-18$844K$1,127K
Nov-18$864K$1,148K
Dec-18$813K$1,099K
Jan-19$872K$1,158K
Feb-19$912K$1,201K
Mar-19$927K$1,220K
Apr-19$962K$1,257K
May-19$929K$1,229K
Jun-19$984K$1,288K
Jul-19$1001K$1,302K

I'm cheating a TINY bit, since I don't usually record my final numbers for the month until that month is over, but I was so excited about hitting the mark when I updated this morning that I decided to go ahead and score the game.

Funny that this is occurring on the US holiday known as Independence Day.  :)

It feels SO WEIRD to be hitting this milestone.  For some reason it's making my head re-wire a bit in a way that didn't happen when I crossed the million mark in total net worth roughly two years ago--the way I have thought of it over the years, home equity isn't "real" in the same way that the account balances are "real." 

Things are weird at work right now, and I'm giving myself permission to think in terms of making a change there as a result of hitting this totally arbitrary number.  It definitely is making me see what's going on there in a new light, and permission to ask myself if I want to continue to be a part of it.

Onward!

(posting also in the $500K to $1M thread for account balance)
Title: Re: Race from $1M to $2M
Post by: arebelspy on July 04, 2019, 10:07:31 PM
Congrats Zoot! July 4 is indeed a fitting day :)
Title: Re: Race from $1M to $2M
Post by: frugalecon on July 05, 2019, 03:53:45 AM
Díoh! I calculated our financial asset net worth yesterday, and it totaled...$1.99 million. So close!
Title: Re: Race from $1M to $2M
Post by: freya on July 05, 2019, 07:35:40 AM
I qualified to join this thread a few months ago.  It's been nice to see the accumulation reports, and see how the pace really picks up!  Here's my progression.  I start out reporting net worth then switch to liquid savings after I bought my current home, since I have no plans to move. 

Between 2004 and 2014, my income was flat while expenses kept going up, but since then it's gone up to double, which has really punched up the savings rate.

Part 1: total net worth
12/2004:  -$140,801 (started out with a scary amount of student loan debt)
12/2005:  -$94,313
12/2006: $21,888 (with some help from a student loan repayment program)
12/2007: $137,779
12/2008: $206,953
12/2009:  $274,551
12/2010:  $377,757
12/2011:  $507,660
12/2012:  $611,698
12/2013:  $703,797
12/2014:  $813,840

Part 2:  liquid savings, excluding home equity and mortgage:

12/2015:  $588,204
12/2016:  $688,902
12/2017:  $843,396
12/2018:  $929,484
4/1/2019:  $1,029,113
7/1/2019:  $1,089,585

I know the market is on fire and it just can't last, but I've still got visions of $1.2 million by the end of the year.

Title: Re: Race from $1M to $2M
Post by: Watchmaker on July 05, 2019, 11:28:49 AM
I'll join this thread, and by doing so perhaps start the next recession.

First a couple of historical data points:
6/05 -0.02 MM
8/13 0.15 MM
9/16 0.50 MM

Now:
7/19 1.02 MM
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on July 06, 2019, 12:02:29 PM
I'll join this thread, and by doing so perhaps start the next recession.

First a couple of historical data points:
6/05 -0.02 MM
8/13 0.15 MM
9/16 0.50 MM

Now:
7/19 1.02 MM

Welcome! That is some seriously impressive progress over the last ~3 years.
Title: Re: Race from $1M to $2M
Post by: winkleweizen on July 07, 2019, 12:10:24 AM
march 2019: 1.04m
july 2019: 1.18m
Title: Re: Race from $1M to $2M
Post by: Herbert Derp on July 07, 2019, 03:41:24 AM
Officially passed the halfway mark!

11/23/2012: $45,000.00
08/03/2013: $100,000.00
01/01/2016: $408,896.04
01/01/2017: $617,283.09
06/06/2017: $758,104.40
10/15/2017: $856,488.71
11/18/2017: $929,536.54
11/27/2017: $944,395.35
12/17/2017: $956,928.07
01/01/2018: $968,307.87
01/05/2018: $987,442.11
01/08/2018: $996,215.32
01/09/2018: $998,819.79
01/10/2018: $999,079.24
01/11/2018: $1,003,101.34
02/01/2018: $1,061,732.89
02/28/2018: $1,062,750.48
05/18/2018: $1,149,432.76
06/06/2018: $1,203,026.63
07/11/2018: $1,232,435.26
08/02/2018: $1,269,509.32
09/01/2018: $1,326,015.73
03/05/2019: $1,327,833.14
06/10/2019: $1,462,549.50
07/07/2019: $1,519,162.03
Title: Re: Race from $1M to $2M
Post by: beeboy on July 12, 2019, 09:38:34 AM

I'm up to 1.722 mil (11k higher than just yesterday). The market is really crazy and a little scary right now. It can't keep going up forever so I'll have to prepare myself to be significantly down at some point, but you should enjoy days/weeks like this.


Just wanted to provide an update as of today with the continued tear the market's on. I'm up to approx. 1.745 mil, which is 23k higher than just a few weeks ago. I would/should be up more, but one large equity position I have is way down today. Regardless, it's nice to see such a bump lately and I hope everyone else is inching closer to the big 2 mil mark!
Title: Re: Race from $1M to $2M
Post by: Watchmaker on July 12, 2019, 10:41:23 AM
My new hobby is looking at the progress you guys have made from the point I am at right now.

01/11/2018: $1,003,101.34
...
07/07/2019: $1,519,162.03

 +500k in 18 months!

march 2019: 1.04m
july 2019: 1.18m

+140k in 16 months!

Well, guys, I'm finally truly qualified to post in this thread!  Updated numbers below:

Oct-17$762K$1,033K
Jul-19$1001K$1,302K

+300k in 21 months!

Title: Re: Race from $1M to $2M
Post by: beeboy on July 12, 2019, 11:34:24 AM
My new hobby is looking at the progress you guys have made from the point I am at right now.

01/11/2018: $1,003,101.34
...
07/07/2019: $1,519,162.03

 +500k in 18 months!

march 2019: 1.04m
july 2019: 1.18m

+140k in 16 months!

Well, guys, I'm finally truly qualified to post in this thread!  Updated numbers below:

Oct-17$762K$1,033K
Jul-19$1001K$1,302K

+300k in 21 months!

I think you are going to see an impressive amount of acceleration in your LNW since you're over the 1 mil mark (although they say it actually starts to pick up once you hit the 500k mark). As for me, I didn't start officially tracking my LNW until I hit 1.14 mil, which was in Feb. 2017 (that was the first time I actually began writing it down). I agree with you though, it's really inspiring to see the progress everyone is making!
Title: Re: Race from $1M to $2M
Post by: Watchmaker on July 12, 2019, 11:55:32 AM
I think you are going to see an impressive amount of acceleration in your LNW since you're over the 1 mil mark (although they say it actually starts to pick up once you hit the 500k mark).

I did see quite the upturn around 500k as well. It took me ~11 years to reach 500k, 3 to reach 1M. Some of that was the money I already had invested growing, of course, but that also coincided with increases in pay in my job. Going forward I don't expect my pay to go much higher, so that effect will level off.
Title: Re: Race from $1M to $2M
Post by: cloudsail on July 12, 2019, 12:18:56 PM
It's really interesting to see everyone's progress so I decided to go look at mine. Before Sept 17 our net worth was mostly in our real estate. In August we sold a house and it immediately put our LNW above $1M.

Sep-17   $1,152,548.34
Oct-17   $1,185,557.64
Nov-17   $1,241,127.49
Dec-17   $1,240,017.56
Jan-18   $1,274,919.15
Feb-18   $1,310,482.07
Mar-18   $1,453,195.67
Apr-18   $1,528,190.02
May-18   $1,582,896.55
Jun-18   $1,570,854.53
Jul-18   $1,461,238.63  (we bought another rental property)
Aug-18   $1,477,473.62
Sep-18   $1,488,482.29
Oct-18   $1,450,328.31
Nov-18   $1,458,442.34
Dec-18   $1,439,875.51
Jan-19   $1,504,646.25
Feb-19   $1,551,869.52
Mar-19   $1,586,745.32
Apr-19   $1,696,476.73
May-19   $1,797,855.77
Jun-19   $1,900,076.09
Jul-19   $1,906,072.75  (today)

Really excited about hopefully hitting $2M soon!
Title: Re: Race from $1M to $2M
Post by: beeboy on July 13, 2019, 08:08:18 AM
It's really interesting to see everyone's progress so I decided to go look at mine. Before Sept 17 our net worth was mostly in our real estate. In August we sold a house and it immediately put our LNW above $1M.

Sep-17   $1,152,548.34
Oct-17   $1,185,557.64
Nov-17   $1,241,127.49
Dec-17   $1,240,017.56
Jan-18   $1,274,919.15
Feb-18   $1,310,482.07
Mar-18   $1,453,195.67
Apr-18   $1,528,190.02
May-18   $1,582,896.55
Jun-18   $1,570,854.53
Jul-18   $1,461,238.63  (we bought another rental property)
Aug-18   $1,477,473.62
Sep-18   $1,488,482.29
Oct-18   $1,450,328.31
Nov-18   $1,458,442.34
Dec-18   $1,439,875.51
Jan-19   $1,504,646.25
Feb-19   $1,551,869.52
Mar-19   $1,586,745.32
Apr-19   $1,696,476.73
May-19   $1,797,855.77
Jun-19   $1,900,076.09
Jul-19   $1,906,072.75  (today)

Really excited about hopefully hitting $2M soon!

You really just flew by the 1.8s. Thatís awesome and I hope to do the same!
Title: Re: Race from $1M to $2M
Post by: Money Badger on July 13, 2019, 08:56:19 AM
Checking back in just to say weíre proud to be back to ďevenĒ in 2019!   But itís after downsizing a home (commissions and moving expenses).   The proud part is the cash accelerator this has been!  Stashed $50K in the past 6 months from increased savings rate, lower property expenses, and divvys from equity freed up...  that would have been half that amount otherwise at best!   
Title: Re: Race from $1M to $2M
Post by: MoneyTree on July 13, 2019, 10:33:07 AM
Hit $1m liquid a few months ago, but wanted a little bit of buffer before joining this thread. Currently at $1.03M.

Need a little motivation, as I've been doing this for years now and not as motivated to do as much in terms of optimizing and saving, since my NW increases are now overwhelmingly driven by the market and less so by my own contributions. Still maxing out everything I can, but I want to continue saving as much as I can on top of that.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 13, 2019, 03:38:34 PM
Checking in and am very impressed with the amount of progress from many of you!  Bravo!  As for me I'm currently at $1.663 million.
Title: Re: Race from $1M to $2M
Post by: aetheldrea on July 13, 2019, 10:38:56 PM
I guess I could have joined this race about 2 years ago counting home value, but wanted to wait until I belonged with actual money. Was getting close when we moved into a rental and have now sold our old place, so now I'm here, sitting at about 1.3 million.

Hoping to retire and start drawing down before I hit 2, so not sure I'll ever finish this race, but who knows?
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on July 16, 2019, 09:39:18 AM
LNW (barely) crested $1.5M for the first time yesterday, TNW is very close to $1.9M.
Title: Re: Race from $1M to $2M
Post by: freya on July 16, 2019, 10:18:32 AM
The goal numbers you all are citing are pretty high compared to the usual Mustache plan.  Can I ask how you arrived at these numbers?

In my case there are two considerations:

1) I live in New York City and paying $1500/month maintenance (on top of the mortgage).   Believe it or not, this is on the low side.  I have very good reasons for wanting to stay (family, lifestyle).

2) There is a very high rate of Alzheimer's in my family, so my chances are much greater than average of being that person who ends up needing extensive home care, then nursing home for 10 years or more.

Even so, my goal # is still on the low end ($1.3-1.4 million).
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on July 16, 2019, 10:53:02 AM
The goal numbers you all are citing are pretty high compared to the usual Mustache plan.  Can I ask how you arrived at these numbers?...my goal # is still on the low end ($1.3-1.4 million).
In my case, the Mustache plan wasn't an exact fit.  Think of it like putting queen size sheets on a full size bed.  It works but still has some flexibility.  I hit my FI number at $1.113 million but at that point in my life was still stuck in my job for another 2.5 years (obligations to the military).  But during that period of time I kept saving and investing like I always did, and the market conditions helped my NW increase to where it is now.  Now, 2.5 years later I'm getting ready to enter retirement.
Title: Re: Race from $1M to $2M
Post by: cloudsail on July 16, 2019, 02:47:13 PM
The goal numbers you all are citing are pretty high compared to the usual Mustache plan.  Can I ask how you arrived at these numbers?

In my case there are two considerations:

1) I live in New York City and paying $1500/month maintenance (on top of the mortgage).   Believe it or not, this is on the low side.  I have very good reasons for wanting to stay (family, lifestyle).

2) There is a very high rate of Alzheimer's in my family, so my chances are much greater than average of being that person who ends up needing extensive home care, then nursing home for 10 years or more.

Even so, my goal # is still on the low end ($1.3-1.4 million).

We have two young children, and one of them has special needs. We live in a HCOL area and may want to stay here at least until our oldest finishes middle school. We also are not particularly frugal people; DH has zero interest in becoming handy and there's only so much I can do myself.
Title: Re: Race from $1M to $2M
Post by: aetheldrea on July 16, 2019, 07:08:55 PM
The goal numbers you all are citing are pretty high compared to the usual Mustache plan.  Can I ask how you arrived at these numbers?
Not sure whose goal numbers you are looking at? This thread set $2 million as a round number just for fun and tracking.
I live in a high cost of living area and have a ton of kids, so not a typical mustachian scenario. Health care is frighteningly expensive and and some in my family use it a lot. So my goal number is higher than many other peopleís but still less than $2 million. Even if I retire at far less than $2 million, thereís still a good chance I will finish this race, because, you know, stock market.
Title: Re: Race from $1M to $2M
Post by: arebelspy on July 16, 2019, 09:32:09 PM
The goal numbers you all are citing are pretty high compared to the usual Mustache plan.  Can I ask how you arrived at these numbers?

Investing inevitability.

I FIRE'd just over four years ago with just over 1MM.

Now I'm approaching two.
Title: Re: Race from $1M to $2M
Post by: freya on July 17, 2019, 07:58:26 AM
The goal numbers you all are citing are pretty high compared to the usual Mustache plan.  Can I ask how you arrived at these numbers?

Investing inevitability.

I FIRE'd just over four years ago with just over 1MM.

Now I'm approaching two.

That is awesome!!  I keep forgetting that the nest egg often still increases after FIRE.  The stories in YMOYL show that very well too.
Title: Re: Race from $1M to $2M
Post by: arebelspy on July 17, 2019, 01:12:44 PM
The goal numbers you all are citing are pretty high compared to the usual Mustache plan.  Can I ask how you arrived at these numbers?

Investing inevitability.

I FIRE'd just over four years ago with just over 1MM.

Now I'm approaching two.

That is awesome!!  I keep forgetting that the nest egg often still increases after FIRE.  The stories in YMOYL show that very well too.
Yep. People worry about the 5% failure rate of 4% SWR, forgetting most of the lines go up and to the right and you end with way more than you started.
Title: Re: Race from $1M to $2M
Post by: texxan1 on July 17, 2019, 03:38:10 PM
as of today

im at   1.68m LNW
Vanguard after Tax   811k
Fidelity 401k            777k
Cash savings              95k

Add in my pension ( both lump sums)

Oil company A       265k  if taken today
Oil Company B       199k taken at 65 YO

That puts me at $1.953m  with just company A, since i dont count company B

Add in a 500k paid for house

TNW  2.493m

Yep, i think im ready lol..... 4 months and counting till FIRE

Pretty close to changing my name.... FiredNfishin

Title: Re: Race from $1M to $2M
Post by: cloudsail on July 17, 2019, 06:22:53 PM
as of today

im at   1.68m LNW
Vanguard after Tax   811k
Fidelity 401k            777k
Cash savings              95k

Add in my pension ( both lump sums)

Oil company A       265k  if taken today
Oil Company B       199k taken at 65 YO

That puts me at $1.953m  with just company A, since i dont count company B

Add in a 500k paid for house

TNW  2.493m

Yep, i think im ready lol..... 4 months and counting till FIRE

Pretty close to changing my name.... FiredNfishin

That's awesome!!! Congratulations!
Title: Re: Race from $1M to $2M
Post by: LeftA on July 19, 2019, 06:17:59 PM
I'm excited to be joining you in this thread!

Our net worth has reached $1,004,259.

However, we are nowhere near as wealthy as some of you here because this includes equity in our home, and we live in a higher COL area.

Regardless, I'm excited to have passed this milestone and look forward to posting here.



Title: Re: Race from $1M to $2M
Post by: Money Badger on July 19, 2019, 07:54:29 PM
Welcome LeftA,   Congrats on the big milestone!   Now itís not about your financial altitude... itís about your trajectory!
Title: Re: Race from $1M to $2M
Post by: bgfoot on July 20, 2019, 01:38:10 PM
My updated numbers as of 7/19
Taxable 554
Deferred 774
HSA 14

Total 1342

Title: Re: Race from $1M to $2M
Post by: frugalecon on July 21, 2019, 12:52:47 PM
Thinking about the $2 million goal, I reflected briefly on how a 1% unnecessary aum or ďasset under managementĒ fee would cost $20,000 per year. Once the portfolio gets sizable, the absolute cost of fees really gets steep.
Title: Re: Race from $1M to $2M
Post by: JoJoP on July 21, 2019, 11:14:43 PM
Thinking about the $2 million goal, I reflected briefly on how a 1% unnecessary aum or ďasset under managementĒ fee would cost $20,000 per year. Once the portfolio gets sizable, the absolute cost of fees really gets steep.

Yes, and think of all that money that isn't growing.  So first you pay through the nose, and then you never really stop paying.   Let's see, $20,000 a year for the next 10, 20, 30 years... a fortune!   
The fees dissuaded us from investing in the market years ago, and missing out on the huge returns in the past 10-20 years because of it. 
Title: Re: Race from $1M to $2M
Post by: chasesfish on July 22, 2019, 06:51:25 AM
I seem to be stuck somewhere around $35k short of the goal now.

On the upside, I'm enjoying early retirement!
Title: Re: Race from $1M to $2M
Post by: Roboturner on July 22, 2019, 09:18:17 AM
I seem to be stuck somewhere around $35k short of the goal now.

On the upside, I'm enjoying early retirement!

i'd take 1.97MM short & an awesome ER over 2MM!!
Title: Re: Race from $1M to $2M
Post by: arebelspy on July 22, 2019, 11:38:34 AM


I seem to be stuck somewhere around $35k short of the goal now.

On the upside, I'm enjoying early retirement!

i'd take 1.97MM short & an awesome ER over 2MM!!

It'd be hard to have an awesome ER if you're 1.97MM short of your 2MM goal. 

;)
Title: Re: Race from $1M to $2M
Post by: aetheldrea on July 26, 2019, 10:25:04 AM

It'd be hard to have an awesome ER if you're 1.97MM short of your 2MM goal. 

;)
It would also be impossible to enjoy retirement if you only had 1.97 million dollars. You would spend the rest of your life as a failure and a loser because you never reached the arbitrary and meaningless goal of 2 million. How could you possibly live on $6566 a month if you were hoping for $6666?

I remember after Barry White died they replayed his Fresh Air interview and he said that he always felt like a failure because he dropped out of high school. One day he cut class, got on a bus to Hollywood and hung around outside a recording studio. That first day he got called into a session to do some hand claps that no one else on the session could manage. Poor guy was a borderline musical genius and he went through life feeling like a failure because he didnít live up to other peopleís dumb expectations. Sad.
Title: Re: Race from $1M to $2M
Post by: terran on July 26, 2019, 02:38:04 PM


I seem to be stuck somewhere around $35k short of the goal now.

On the upside, I'm enjoying early retirement!

i'd take 1.97MM short & an awesome ER over 2MM!!

It'd be hard to have an awesome ER if you're 1.97MM short of your 2MM goal. 

;)


It'd be hard to have an awesome ER if you're 1.97MM short of your 2MM goal. 

;)
It would also be impossible to enjoy retirement if you only had 1.97 million dollars. You would spend the rest of your life as a failure and a loser because you never reached the arbitrary and meaningless goal of 2 million. How could you possibly live on $6566 a month if you were hoping for $6666?

I believe @arebelspy's point was that being 1.97MM short of 2MM means you have 30k. :-)
Title: Re: Race from $1M to $2M
Post by: Bateaux on July 26, 2019, 08:08:40 PM

It'd be hard to have an awesome ER if you're 1.97MM short of your 2MM goal. 

;)
It would also be impossible to enjoy retirement if you only had 1.97 million dollars. You would spend the rest of your life as a failure and a loser because you never reached the arbitrary and meaningless goal of 2 million. How could you possibly live on $6566 a month if you were hoping for $6666?

We've all done it.  We've all calculated 2,000,000 x 0.04 ų 12 = 6666.6666666
We're like ouch!   That's a crazy number.  I've since reset to a 2,500,000 goal. So that's 8333.333333 a month.  Doesn't mean squat however,  I'm planning a 60K annual draw down to qualify for the ACA subsidies.   That's a nice even 5,000 a month and an old FIRE we passed at 1,500,000.   Happy calculating, math was never this fun in school.
Title: Race from $1M to $2M
Post by: jengod on July 29, 2019, 04:28:32 AM
Just wanted to say hey and that Iíll be lurking here. Iíve been in the $2-3m thread bc thatís our TNW, but Iím pretty sure our LNW is still below $2m so we probably rightfully belong here. (I havenít looked at all the accounts together since January TBH but a little below $2m is the ballpark.) The market has been kind this year but nothing lasts forever.

We are probably going for a fatFIRE number since we live in a HCOL area, we have four kids, and DH seems to enjoy working.
Title: Re: Race from $1M to $2M
Post by: Bateaux on July 29, 2019, 05:22:50 AM
Just wanted to say hey and that Iíll be lurking here. Iíve been in the $2-3m thread bc thatís our TNW, but Iím pretty sure our LNW is still below $2m so we probably rightfully belong here. (I havenít looked at all the accounts together since January TBH but a little below $2m the ballpark.) The market has been kind this year but nothing lasts forever.

We are probably going for a fatFIRE number since we live in a HCOL, we have four kids, and DH seems to enjoy working.

Pretty sure you're qualified to post in either thread. 
Title: Re: Race from $1M to $2M
Post by: Bateaux on August 02, 2019, 12:08:49 AM
I seem to be stuck somewhere around $35k short of the goal now.

On the upside, I'm enjoying early retirement!

Read your blog the other day.  Left a comment.  You are killing it!  I didn't buy a beach house but we're close to the gulf and a short drive to the Atlantic.  Citrus County Florida was our choice.  Good luck.
Title: Re: Race from $1M to $2M
Post by: MoneyTree on August 05, 2019, 11:16:58 PM
Looks like I didn't give myself enough buffer. I got knocked out of this race today.

I'll be back. Hopefully sooner than later
Title: Re: Race from $1M to $2M
Post by: talltexan on August 08, 2019, 06:36:43 AM
Just mark some asset to a moving average instead of some market, and you can stay with us. That's how the banks do it.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on August 08, 2019, 11:20:48 AM
Or don't look at your balances when you know it will be depressing : )

Unless you plan to take some action (rebalancing for example) it's just a demotivator to keep too close an eye on your paper losses during down markets.  Or worse, it can be a temptation to do something really dumb like trying to time the market.   
Title: Re: Race from $1M to $2M
Post by: Blissful Biker on August 12, 2019, 02:05:12 PM
I'd like to join this race too for a bit of extra inspiration and motivation.

(https://i.imgur.com/F91n196.jpg)

We are now at $1.3M CDN in investment assets, with a goal to reach $2M and FIRE by the end of 2024.  Based on a 4% SWR that should allow an income of $80K or about $67K CDN after tax.  The house is paid off and we have a healthy RESP for the kids, so that should support a grand retirement full of skiing, biking and outdoor fun.

My rough plan to close the $700K gap is $100K from downsizing in a few years, $50K per year of new contributions and $60K per year of growth. 
Title: Re: Race from $1M to $2M
Post by: desk_jockey on August 14, 2019, 07:42:03 PM
Hi folks, nice to see you again.  :-(
Title: Re: Race from $1M to $2M
Post by: Watchmaker on August 15, 2019, 08:39:14 AM
I'll join this thread, and by doing so perhaps start the next recession.

First a couple of historical data points:
6/05 -0.02 MM
8/13 0.15 MM
9/16 0.50 MM

Now:
7/19 1.02 MM

I was right. Well, we'll see if I was right about the recession, but I have dropped back below 1 MM for the time being.
Title: Re: Race from $1M to $2M
Post by: iluvzbeach on August 15, 2019, 07:51:35 PM
I'll join this thread, and by doing so perhaps start the next recession.

First a couple of historical data points:
6/05 -0.02 MM
8/13 0.15 MM
9/16 0.50 MM

Now:
7/19 1.02 MM

I was right. Well, we'll see if I was right about the recession, but I have dropped back below 1 MM for the time being.

Damn you, @Watchmaker! I knew someone was to blame and now Iím certain itís you! I can see the headlines now ďWatchmaker from the MMM Forums Responsible for Stock Market Crash of 2019!Ē Itís only right that youíve dropped below $1 Million. 😜
Title: Re: Race from $1M to $2M
Post by: Watchmaker on August 16, 2019, 07:59:44 AM
Damn you, @Watchmaker! I knew someone was to blame and now Iím certain itís you! I can see the headlines now ďWatchmaker from the MMM Forums Responsible for Stock Market Crash of 2019!Ē

That's about as sensible as the average financial news headline.

Itís only right that youíve dropped below $1 Million. 😜

I'll try to take my punishment with dignity.
Title: Re: Race from $1M to $2M
Post by: thriftyc on August 24, 2019, 09:11:59 PM
I just hit 1 million Canadian + plus a paid off house worth 500k.  But I am out of steam, and FIREing this fall.  So don't know if I will ever hit 2million.  My wife who is working part-time at a hospital and loving it with no desire to pack it in might help lower the drawdown, we will see.
Title: Re: Race from $1M to $2M
Post by: FireHiker on August 28, 2019, 11:21:46 AM
Hi, I am new to this race finally!

We sold our clown house, paid off our 401k loans, put a large downpayment on a much more modest home, and this is our new net worth picture:

cash savings: $55,459 (haven't decided what to do with all of this yet, just sold the house so it's sitting in savings temporarily)
401k savings: $999,573
Total liquid NW: $1,055,032

new home equity: $534,941

Total NW: $1,589,973

For the purposes of the "race" I only consider the liquid NW and not the home equity, but either way we are finally in the 1M to 2M race, woohoo!
Title: Re: Race from $1M to $2M
Post by: jengod on August 28, 2019, 01:49:18 PM
Hi, I am new to this race finally!

We sold our clown house, paid off our 401k loans, put a large downpayment on a much more modest home, and this is our new net worth picture:

cash savings: $55,459 (haven't decided what to do with all of this yet, just sold the house so it's sitting in savings temporarily)
401k savings: $999,573
Total liquid NW: $1,055,032

new home equity: $534,941

Total NW: $1,589,973

For the purposes of the "race" I only consider the liquid NW and not the home equity, but either way we are finally in the 1M to 2M race, woohoo!

Yay! Welcome!
Title: Re: Race from $1M to $2M
Post by: guelphinvestor on August 28, 2019, 02:19:21 PM
Hi, I am new to this race finally!

We sold our clown house, paid off our 401k loans, put a large downpayment on a much more modest home, and this is our new net worth picture:

cash savings: $55,459 (haven't decided what to do with all of this yet, just sold the house so it's sitting in savings temporarily)
401k savings: $999,573
Total liquid NW: $1,055,032

new home equity: $534,941

Total NW: $1,589,973

For the purposes of the "race" I only consider the liquid NW and not the home equity, but either way we are finally in the 1M to 2M race, woohoo!

Yay! Welcome!
I just hit 1 million Canadian + plus a paid off house worth 500k.  But I am out of steam, and FIREing this fall.  So don't know if I will ever hit 2million.  My wife who is working part-time at a hospital and loving it with no desire to pack it in might help lower the drawdown, we will see.
I am a Canadian with similar numbers.   Congratulations on FIREing this fall.  I am planning to wait a few more years particularly with the way the market is going

Sent from my Nexus 5 using Tapatalk

Title: Re: Race from $1M to $2M
Post by: thriftyc on September 02, 2019, 02:34:52 PM
Hi, I am new to this race finally!

We sold our clown house, paid off our 401k loans, put a large downpayment on a much more modest home, and this is our new net worth picture:

cash savings: $55,459 (haven't decided what to do with all of this yet, just sold the house so it's sitting in savings temporarily)
401k savings: $999,573
Total liquid NW: $1,055,032

new home equity: $534,941

Total NW: $1,589,973

For the purposes of the "race" I only consider the liquid NW and not the home equity, but either way we are finally in the 1M to 2M race, woohoo!

Yay! Welcome!
I just hit 1 million Canadian + plus a paid off house worth 500k.  But I am out of steam, and FIREing this fall.  So don't know if I will ever hit 2million.  My wife who is working part-time at a hospital and loving it with no desire to pack it in might help lower the drawdown, we will see.
I am a Canadian with similar numbers.   Congratulations on FIREing this fall.  I am planning to wait a few more years particularly with the way the market is going

Sent from my Nexus 5 using Tapatalk

In my case my numbers work, I am at a 3.33% withdrawal rate, with a 100k buffer.  Wife's part-time income + CCB factor in.  My time is worth more to me than putting in more work for money I will likely never see (because I die before I spend it all).  Likely still grow our net worth, and eventually hit 2 million, just will take longer once FIRED.
Title: Re: Race from $1M to $2M
Post by: cloudsail on September 02, 2019, 03:05:43 PM
Sadly our net worth went down a little in August, so not graduating from this group yet. Guess I'll have to hang out with you tiresome folks a little longer *sighs dramatically*.
Title: Re: Race from $1M to $2M
Post by: couponvan on September 02, 2019, 03:16:09 PM
We are treading water at $1.75MM and will be for quite some time with kids in college and me not working anymore.  Pretty much every month we are blowing cash setting up our new house the way we want it and finishing out the YOLO year.  I "think" we're almost done with that phase, but it's been a spendy year.  I thank my prior self for saving as well as I did so that I could enjoy this year.  If the cancer comes back, at least I did the main bucket list items and wouldn't have regrets!
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on September 03, 2019, 08:48:25 AM
We are treading water at $1.75MM and will be for quite some time...

Same here, but $1.5MM.  We don't have any extra to throw at investments right now, just regular pre-tax retirement contributions.  I have the feeling we're going to be in the $1M to $2M group for 2-3 more years, or maybe 2x that long with a recession.
Title: Re: Race from $1M to $2M
Post by: Bateaux on September 03, 2019, 03:32:38 PM
With the looming recession, a lot of us a thread up may be thread down soon.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on September 03, 2019, 04:53:39 PM
With the looming recession, a lot of us a thread up may be thread down soon.

I'm going to use my home equity as a buffer for thread purposes. A sort of category hysteresis, if you will, to prevent moving back and forth at the boundary.  Once my liquid NW got me across the threshold, I grabbed firm hold of the (very nice) tablecloth on the caviar table and plan to hang on as long as my total NW lets me rationalize :)
Title: Re: Race from $1M to $2M
Post by: oldtoyota on September 04, 2019, 01:14:06 PM
With the looming recession, a lot of us a thread up may be thread down soon.

I'm going to use my home equity as a buffer for thread purposes. A sort of category hysteresis, if you will, to prevent moving back and forth at the boundary.  Once my liquid NW got me across the threshold, I grabbed firm hold of the (very nice) tablecloth on the caviar table and plan to hang on as long as my total NW lets me rationalize :)

Thank you for the smile here. =-D
Title: Re: Race from $1M to $2M
Post by: PathtoFIRE on September 04, 2019, 01:41:27 PM
(https://i.imgflip.com/39ovl8.jpg) (https://imgflip.com/i/39ovl8)via Imgflip Meme Generator (https://imgflip.com/memegenerator)
Title: Re: Race from $1M to $2M
Post by: FIKristen on September 04, 2019, 05:07:49 PM
Woo-hoo!  What the heck, I'm in.  36 years old and at just over 1 million (not including primary residence) now, despite "retiring" a few years ago. Never thought I'd maybe be a multi-millionaire someday...still weird to think about.
Title: Re: Race from $1M to $2M
Post by: FIKristen on September 04, 2019, 05:15:33 PM
Well, guys, I'm finally truly qualified to post in this thread!  Updated numbers below:

Month/YearLiquid AssetsTotal Net Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K
Feb-18$823K$1,083K
Mar-18$812K$1,081K
Apr-18$818K$1,094K
May-18$836K$1,115K
Jun-18$844K$1,131K
Jul-18$872K$1,165K
Aug-18$891K$1,175K
Sep-18$895K$1,177K
Oct-18$844K$1,127K
Nov-18$864K$1,148K
Dec-18$813K$1,099K
Jan-19$872K$1,158K
Feb-19$912K$1,201K
Mar-19$927K$1,220K
Apr-19$962K$1,257K
May-19$929K$1,229K
Jun-19$984K$1,288K
Jul-19$1001K$1,302K

Onward!


Congrats Zoot!  Do you by chance have an identical FI twin sister, Dingo?  ;)
Title: Re: Race from $1M to $2M
Post by: Enigma on September 05, 2019, 09:46:09 AM
I should have posted here a while back.
2017-Jan - NW $1.009MM
2018-Jan - NW $1.184MM
2019-Jan - NW $1.302MM
(MM for million)
Started the year 15% LNW, 27 rental units, 350k rental unit debt, 1.3M TNW
Kept rental units estimate near 2013 purchase price on paper (showed higher cap gains %).

Sold 4 units last month and selling 7 units in 3 weeks at current market value (almost double).
Projection: 30% LNW, 16 rental units, 0k debt, 500K LNW, 1.7M TNW
Title: Re: Race from $1M to $2M
Post by: LeftA on September 06, 2019, 10:22:27 AM
I joined this thread in late July, having just passed the $1M mark in TNW.

Don't typically calculate TNW that often, but some market fluctuations means we are likely only about 15K past the $1M mark now.

I think the 1M to 2M race will be a slow one for us, LOL.

Who else here is on the lower end of the $1-2M window?
Title: Re: Race from $1M to $2M
Post by: talltexan on September 06, 2019, 12:10:19 PM
Woo-hoo!  What the heck, I'm in.  36 years old and at just over 1 million (not including primary residence) now, despite "retiring" a few years ago. Never thought I'd maybe be a multi-millionaire someday...still weird to think about.

Indeed it starts to get weird when you listen to people on Dave Ramsey who are in the millionaire hour, and you realize you beat them (and at a younger age)
Title: Re: Race from $1M to $2M
Post by: FireLane on September 12, 2019, 08:23:21 PM
My LNW touched $1.5 million today for the first time ever! Counting the paid-off house, it's more like $1.75M.

Looking over my spreadsheets, I've consistently gained about $250,000 a year since 2016. So I guess I'm in this thread till fall 2021?
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on September 13, 2019, 07:15:36 AM
My LNW touched $1.5 million today for the first time ever! Counting the paid-off house, it's more like $1.75M.

Looking over my spreadsheets, I've consistently gained about $250,000 a year since 2016. So I guess I'm in this thread till fall 2021?

Sounds like we're at about the same LNW and TNW.  But I don't know how you managed to consistently gain $250,000/yr for the last 3 years.  2016, 2017, and 2019 look pretty similar, but 2018 was a dud (at least for the S&P500).  If you're measuring year-over year through September, then the last 12 months were basically flat.

I wouldn't bank on 2021 for graduating out of this group.  There's a recession coming, dontcha know?  :D  Regardless, whatever you're doing...keep it up because you're kicking butt!
Title: Re: Race from $1M to $2M
Post by: PathtoFIRE on September 13, 2019, 10:42:41 AM
Hey, similar numbers *high five*
I also get about 250k/yr if I average (2015 +200, 2016 +325, 2017 +350, 2018 +100, 2019 YTD +250 = 245/yr); we were pretty steadily saving 150/yr during those years

2015 felt like a bad year at the time, especially because we cashout refinanced that year and then watched the extra invested lose a little value over the year, but yeah, 2018 was definitely worse. I have a small allocation to DGEIX and follow it as a rough guide on how the total world stock market is doing, and that's been flat for even longer than the SP500, basically since 2/18. Almost gives me the itch to do another cashout refi...almost
Title: Re: Race from $1M to $2M
Post by: Zoot on September 14, 2019, 06:24:45 AM
Congrats Zoot!  Do you by chance have an identical FI twin sister, Dingo?  ;)

She always blames ME for setting light to the grail-shaped beacon, but it was her all along.  ;-)
Title: Re: Race from $1M to $2M
Post by: FireLane on September 15, 2019, 02:16:57 PM
Sounds like we're at about the same LNW and TNW.  But I don't know how you managed to consistently gain $250,000/yr for the last 3 years.  2016, 2017, and 2019 look pretty similar, but 2018 was a dud (at least for the S&P500).  If you're measuring year-over year through September, then the last 12 months were basically flat.

Well, as for the 2018 gains, about half of that was contributions. I'm a pretty high earner, and 2019 was my last year of working full-time. The other half was my market-timing skills, obviously.

OK, I kid, but I did rebalance my tax-deferred accounts into bonds in September 2018 (https://forum.mrmoneymustache.com/journals/maybe-we'll-make-it-after-all/msg2136047/#msg2136047). In hindsight, that was basically the best possible time. I can't take any credit for calling the market, that was pure dumb luck. But it really pays off to have an asset allocation strategy and stick to it!

Quote
I wouldn't bank on 2021 for graduating out of this group.  There's a recession coming, dontcha know?  :D  Regardless, whatever you're doing...keep it up because you're kicking butt!

Thanks! I actually tend to agree that a 2020 recession is more likely than not, and I'm planning to retire before 2021 anyway. I'm sure my assets will accumulate much slower when I'm drawing them down.
Title: Re: Race from $1M to $2M
Post by: LeftA on September 26, 2019, 05:53:44 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.


Title: Re: Race from $1M to $2M
Post by: MrsSpendyPants on September 29, 2019, 07:39:15 AM
Just joining this race, 1.04TNW.  We're focusing on paying off our house next year so expecting to be stagnant for a bit but then plowing all mortgage and extra payments into the market so hoping to make it to the next million in about five years assuming that the market doesn't take during that time.
Title: Re: Race from $1M to $2M
Post by: winkleweizen on September 30, 2019, 04:55:43 AM
Q3update

march 2019: 1.04m
july 2019:     1.18m
Oct 2019:     1.24m
Title: Re: Race from $1M to $2M
Post by: chasesfish on September 30, 2019, 05:42:19 AM
I've gotten as close as $6,000 to this number.

The goal is harder to cross once I'm only withdrawing from the portfolio instead of accumulating!

Fingers crossed October is the month
Title: Re: Race from $1M to $2M
Post by: FireHiker on October 02, 2019, 02:28:32 PM
2nd month in the 1M to 2M race!

Date             LNW           TNW
9/2019      $1.055M     $1.590M
10/2019     $1.113M    $1.653M

Title: Re: Race from $1M to $2M
Post by: MishMash on October 03, 2019, 05:28:52 AM
right before the market downturn of the last week we juuuust crossed the 2 million mark (including house equity of 70k), we just sold our other house and that put us over the mark, now we are 50k down in a week lol
Title: Re: Race from $1M to $2M
Post by: zinnie on October 04, 2019, 06:22:30 AM
Joining this race now! Been reading MMM since the beginning and started seriously saving 2012ish. Adjusted my FIRE number after taking a year off work and trying it out! Now Iím back in the game with a slightly lower salary and a higher COL but still a good savings rate. So here is my plan:

Current liquid: $1.18M
Current NW: $1.45M

Goal liquid:~1.6M
Goal NW: ~2M

Iíd like to be done Aug 2021. Iíll walk if the numbers are even close.
Title: Re: Race from $1M to $2M
Post by: Roboturner on October 07, 2019, 12:24:11 PM
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

slow going this Q, hoping for a pick me up in YE
Title: Re: Race from $1M to $2M
Post by: freya on October 13, 2019, 09:29:51 AM
Slow going for me, too:

I started the year at $939K (liquid).
4/1/2019:  $1.029M
7/1/2019:  $1.09M
10/1/2019: $1.13M

I was hoping to hit $1.2M by the end of the this year.  I've been diverting some savings to fund a kitchen remodel, though.
Title: Re: Race from $1M to $2M
Post by: talltexan on October 24, 2019, 08:13:31 AM
Mrs. talltexan and I closed on a new house on Friday: appraised at $478,000, but we're taking on basically that much debt in order to finance it while we sell our current house. Looking at a few months of expensive repairs and a massive balance sheet.
Title: Re: Race from $1M to $2M
Post by: Blissful Biker on October 24, 2019, 12:47:16 PM

                  LNW         TWN
2018 YE    $1.13M    $1.66M
1Q2019     $1.26M    $1.77M
2Q2019     $1.26M    $1.77M
3Q2019     $1.33M    $1.84M

These are little Canadian dollars.  We're pulling the FIRE PIN at $2M LNW, which will bump by at least $100K when we downsize the house.
Title: Re: Race from $1M to $2M
Post by: guelphinvestor on October 24, 2019, 02:05:07 PM
Regarding the 2M LNW, what are your annual expenses ?
Title: Re: Race from $1M to $2M
Post by: Blissful Biker on October 24, 2019, 03:29:58 PM
Regarding the 2M LNW, what are your annual expenses ?

$2M CDN at a 4% SWR will throw off $80K per year.  Assuming 15% tax we'll have $68K/year to spend.  That should be plenty as we have no mortgage and the kids will be off to their RESP funded university by the time we FIRE in 5ish years.  I do not include the education funds in either the LNW or TNW as it belongs to the kids.
Title: Re: Race from $1M to $2M
Post by: SEAK on October 28, 2019, 04:33:49 PM
Joining the thread. 45 years old, wife 43, and two kiddos aged 12 and 10 living in a HCOL area. We're sitting at just over a 1 million in investments now not including our home equity ($225k), value of pensions ($800k), and the kids college savings ($90k). Hoping the next million doesn't take even close to as long as the first!
Title: Re: Race from $1M to $2M
Post by: BlueHouse on November 03, 2019, 04:57:50 PM
This week my 401k crossed the $1M mark!  I've been at over $1M liquid net worth for a few years, so I've been trying to get this account over $1M as an interim goal to $2M NW. 

I'm giddy with excitement.  I feel so rich.  I don't know why this one account makes me feel any different and I know the value will float up and down over the next few months (No more contributions this year).  But for now....happy!
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on November 03, 2019, 05:03:44 PM
Mrs. talltexan and I closed on a new house on Friday: appraised at $478,000, but we're taking on basically that much debt in order to finance it while we sell our current house. Looking at a few months of expensive repairs and a massive balance sheet.

Wouldn't it be fun to get a house in Texas from "Fixer Upper With Chip and Joanna Gaines" ?  It would be beautiful all throughout.
Title: Re: Race from $1M to $2M
Post by: Fomerly known as something on November 04, 2019, 05:34:11 AM
This week my 401k crossed the $1M mark!  I've been at over $1M liquid net worth for a few years, so I've been trying to get this account over $1M as an interim goal to $2M NW. 

I'm giddy with excitement.  I feel so rich.  I don't know why this one account makes me feel any different and I know the value will float up and down over the next few months (No more contributions this year).  But for now....happy!

I'm eagerly hoping for another 1% gain in the market which should push me over another $100,000 mark in mine.  (Still not at 7 figures in the 401k but it was my first investment account) so I totally understand your joy.
Title: Re: Race from $1M to $2M
Post by: talltexan on November 04, 2019, 09:43:00 AM
Mrs. talltexan and I closed on a new house on Friday: appraised at $478,000, but we're taking on basically that much debt in order to finance it while we sell our current house. Looking at a few months of expensive repairs and a massive balance sheet.

Wouldn't it be fun to get a house in Texas from "Fixer Upper With Chip and Joanna Gaines" ?  It would be beautiful all throughout.

What they do is so much more major than what we have planned.
Title: Re: Race from $1M to $2M
Post by: sherr on November 04, 2019, 12:25:55 PM
This week my 401k crossed the $1M mark!

I'm eagerly hoping for another 1% gain in the market which should push me over another $100,000 mark in mine. 

I'm curious, how did you get so much money in your 401k? Very generous employer contributions?

I've been contributing the max to my 401k for over a decade and I'm still nowhere near a million.
Title: Re: Race from $1M to $2M
Post by: chasesfish on November 04, 2019, 01:12:26 PM
Failed to announce this...briefly crossed the $2mil mark in the last week of November, then as of last Friday finally set that mark in the dust!

Not bad considering I trimmed equities down and left my job this year.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 04, 2019, 04:23:09 PM
Failed to announce this...briefly crossed the $2mil mark in the last week of November, then as of last Friday finally set that mark in the dust!
Good job, chasesfish!!  Congratulations!!
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 04, 2019, 04:33:20 PM
Posting to update that I finally reached $1.7 million in NW!  It's a good feeling!

I recently pulled the plug and FIRE'd; it's been great!  Recently, I did an estimate and projected that my total annual passive income is $92K pre-tax.  That gives me a lot of confidence going forth!
Title: Re: Race from $1M to $2M
Post by: chasesfish on November 04, 2019, 06:37:02 PM
Posting to update that I finally reached $1.7 million in NW!  It's a good feeling!

I recently pulled the plug and FIRE'd; it's been great!  Recently, I did an estimate and projected that my total annual passive income is $92K pre-tax.  That gives me a lot of confidence going forth!

How much fun is it to not go to work?  Still amazing to me every Monday.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 04, 2019, 07:53:49 PM
How much fun is it to not go to work?  Still amazing to me every Monday.
It's frickin' fantastic!  The feeling of total freedom is indescribable!
Title: Re: Race from $1M to $2M
Post by: aspiringnomad on November 04, 2019, 10:20:38 PM
6/30/17: 1.002 million, two months shy of my 35th birthday
1/17/18: 1.219 million, 4.5 months after my 35th birthday

Feels like this crazy market has put things into hyperdrive. Hoping I've got enough buffer to remain in the two comma club through the next correction, but who knows?

Total HH net worth now at 1.281. With the market down/sideways I've been throwing any and all cash I can scrounge into stocks. Even if there's still a ways down to go, I'm thinking I'll be happy I did over the long-term.

11/1/19: $1.56M a couple months after turning 37 and officially FI! Have spent way above our planned RE budget this year mostly on experiences and time with family and friends before we embark on our more frugal adventures. Still very able and happy to go more rustic and less YOLO once the need arises.
Title: Re: Race from $1M to $2M
Post by: Zoot on November 06, 2019, 05:28:58 AM
Time for another update!  :)

Month/YearLiquid AssetsTotal Net Worth
Jan-17
$604K
$883K
Feb-17$622K$905K
Mar-17$651K$930K
Apr-17$660K$939K
May-17$675K$954K
Jun-17$694K$967K
Jul-17$717K$991K
Aug-17$721K$1,000K
Sep-17$738K$1,007K
Oct-17$762K$1,033K
Nov-17$782K$1,055K
Dec-17$796K$1,058K
Jan-18$836K$1,095K
Feb-18$823K$1,083K
Mar-18$812K$1,081K
Apr-18$818K$1,094K
May-18$836K$1,115K
Jun-18$844K$1,131K
Jul-18$872K$1,165K
Aug-18$891K$1,175K
Sep-18$895K$1,177K
Oct-18$844K$1,127K
Nov-18$864K$1,148K
Dec-18$813K$1,099K
Jan-19$872K$1,158K
Feb-19$912K$1,201K
Mar-19$927K$1,220K
Apr-19$962K$1,257K
May-19$929K$1,229K
Jun-19$984K$1,288K
Jul-19$1,010K$1,316K
Aug-19$994K$1,307K
Sep-19$1,012K$1,322K
Oct-19$1,035K$1,346K
Nov-19$1,045K$1,353K

I think for the next update I'll whittle down that table a bit--either by showing quarterly numbers for the earlier years or just removing 2017 and 2018 entirely.  The table is a relic of my post in the $500K-to-$1M thread, so it has all the older info in it.  It's just so nice to look back on the numbers and see where I've been, and marvel at the progress.

It was tough to go back into the six-figure realm (ha!) with the market dip in August, but such is the investing life--and that $16K difference was only 1.5%.  It's just so weird to say things like "only sixteen thousand dollars"--that number would have had a WAY different significance at different times in my life.

I think I may want to post either a journal or a case study (can't decide which) with some more musings.  Things are still weird at work (weirder, even, than they were last time I said that) and I'm fast approaching "done" mentally, but I am so scared of turning off the cash stream. 

The next line-in-the-sand milestone I've set for myself is a liquid asset value of "one million dollars and a paid off house"--meaning that there would be enough to stroke a check to pay off the mortgage and still have $1M left over (I won't actually pull the trigger, though, unless it makes sense to do so in some way).  That's a moving target, of course, since the mortgage value decreases over time, but my spreadsheets tell me that the number I need to hit for that is about $1.14M.  At our household savings rate, and with a conservative account growth estimate, I estimate getting there in about August 2020.

Not sure I will last that long at work, but it was a good mental exercise to do the math, and it gives me something to hang on to as I slog through the suck.  ;-)
Title: Re: Race from $1M to $2M
Post by: BlueHouse on November 06, 2019, 09:45:50 AM
This week my 401k crossed the $1M mark!

I'm eagerly hoping for another 1% gain in the market which should push me over another $100,000 mark in mine. 

I'm curious, how did you get so much money in your 401k? Very generous employer contributions?

I've been contributing the max to my 401k for over a decade and I'm still nowhere near a million.

Well, first of all, I'm 51 so I've had more time than you.  But...80% of the increase has been in the past 9 years so I'll still answer.

1.  Time -- I'm old.
2.  Money -- I have had a high income for the past few years, which has allowed me to max out my contribution + the employer match (I'm self-employed)
3.  Time and distance -- I stopped moving it around trying to chase returns and started using the lazy-man portfolio.  I decided to "get rich slowly" and it happened much faster than I thought it would
 
If your plan allows it and you can swing it, you can max out to $54K or $62K with mega-backdoor Roth. 
Title: Re: Race from $1M to $2M
Post by: sherr on November 06, 2019, 12:01:23 PM
I'm curious, how did you get so much money in your 401k? Very generous employer contributions?

I've been contributing the max to my 401k for over a decade and I'm still nowhere near a million.

Well, first of all, I'm 51 so I've had more time than you.  But...80% of the increase has been in the past 9 years so I'll still answer.

1.  Time -- I'm old.
2.  Money -- I have had a high income for the past few years, which has allowed me to max out my contribution + the employer match (I'm self-employed)
3.  Time and distance -- I stopped moving it around trying to chase returns and started using the lazy-man portfolio.  I decided to "get rich slowly" and it happened much faster than I thought it would
 
If your plan allows it and you can swing it, you can max out to $54K or $62K with mega-backdoor Roth.

Thanks. Yeah, having access to the employer contribution side too makes a big difference. I'm not self-employed so I'm limited to $19k of contributions a year, despite also having a high income.

My 401k does not currently allow for after-tax contributions so I can't swing the mega-backdoor Roth, but they're looking at changing that for next year. Fingers crossed.
Title: Re: Race from $1M to $2M
Post by: TempusFugit on November 06, 2019, 03:27:00 PM
Just when I figured out the Mega Backdoor Roth, I was designated a "highly compensated individual" and therefore ineligible for the option.   I didn't even get a t-shirt. 

But it is the first-est of first world problems. 
Title: Re: Race from $1M to $2M
Post by: DavidAnnArbor on November 06, 2019, 07:15:43 PM

If your plan allows it and you can swing it, you can max out to $54K or $62K with mega-backdoor Roth.

Way to go BlueHouse. The mega backdoor roth for the self-employed is the greatest.
Title: Re: Race from $1M to $2M
Post by: Watchmaker on November 11, 2019, 12:02:03 PM
I'll join this thread, and by doing so perhaps start the next recession.

First a couple of historical data points:
6/05 -0.02 MM
8/13 0.15 MM
9/16 0.50 MM

Now:
7/19 1.02 MM

I was right. Well, we'll see if I was right about the recession, but I have dropped back below 1 MM for the time being.

I'm back!

11/19 1.08 MM

Title: Re: Race from $1M to $2M
Post by: talltexan on November 12, 2019, 11:45:08 AM
Haven't posted for a while.

Mrs. talltexan and I currently own our new house ($478,000), but still have the old house to get ready for sale ($175,000 mortgage; hoping to sell above $300,000). Cash will be tight for a couple months.

The sale of the old house might really move the needle for us.
Title: Re: Race from $1M to $2M
Post by: frizzywhiskers on November 12, 2019, 07:50:41 PM
Iíd like to join this thread, Iím in need of some motivation!

Me age 48, Hubby age 50.  Looking to FIRE at the end of 2021/early 2022.

Total Net Worth is at $1,333,000 which consists of a $625,000 paid off house and about $708,000 in investments.  We should hit the $1,000,000 in investments mark by our FIRE date which is the goal.  We are also selling our current house and moving to a small mountain town during this time. 

Letís do this!
Title: Re: Race from $1M to $2M
Post by: brooklynmoney on November 12, 2019, 09:08:00 PM
Posting to update that I finally reached $1.7 million in NW!  It's a good feeling!

I recently pulled the plug and FIRE'd; it's been great!  Recently, I did an estimate and projected that my total annual passive income is $92K pre-tax.  That gives me a lot of confidence going forth!

@cornbread congratulations! Very happy for you on your retirement and I must declare you winner of the imaginary race as you are still ahead of me by about 12k in networth haha.
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 13, 2019, 02:34:27 PM
@cornbread congratulations! Very happy for you on your retirement and I must declare you winner of the imaginary race as you are still ahead of me by about 12k in networth haha.
@brooklynmoney The difference is only $12K??!!  You closed the gap really quick!  You're going to pass me by, and I'll be trailing very soon!
Title: Re: Race from $1M to $2M
Post by: zinnie on November 14, 2019, 05:11:26 AM
Joining this race now! Been reading MMM since the beginning and started seriously saving 2012ish. Adjusted my FIRE number after taking a year off work and trying it out! Now Iím back in the game with a slightly lower salary and a higher COL but still a good savings rate. So here is my plan:

Current liquid: $1.18M
Current NW: $1.45M

Goal liquid:~1.6M
Goal NW: ~2M

Iíd like to be done Aug 2021. Iíll walk if the numbers are even close.

It's been a good month! Update:

Liquid: $1.24M
Net Worth: $1.51M

it felt good to pass the 1.5 mark :)
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 14, 2019, 09:37:28 AM
Iíd like to join this thread, Iím in need of some motivation!

Me age 48, Hubby age 50.  Looking to FIRE at the end of 2021/early 2022.

Total Net Worth is at $1,333,000 which consists of a $625,000 paid off house and about $708,000 in investments.  We should hit the $1,000,000 in investments mark by our FIRE date which is the goal.  We are also selling our current house and moving to a small mountain town during this time. 

Letís do this!
Let's get it on!  :-)
Title: Re: Race from $1M to $2M
Post by: Zamboni on November 18, 2019, 04:31:01 PM
Crossed into this thread. Yay! Numbers are for my beloved and me. Not sure yet if we will update monthly or quarterly. Probably should do monthly for awhile just to get in the good habit of a monthly joint budget/finances/planning discussion with my partner now that we have our eggs all in the same basket. . .

                     LNW           TNW
Nov 2019    $1.02MM    $1.18MM
Title: Re: Race from $1M to $2M
Post by: CANStache on November 19, 2019, 07:26:29 AM
I've been reading MMM for years but have been indoctrinated for decades to not talk about money.  Finally feel like putting it out there since out LNW passed $1M.

Nov 2019:   LNW: $1.048M  TNW:  $2.176M

Wife and I are mid-40s, she's taking a longish break from a corporate career that could potential evolve into full-on retirement for her.  I think I probably have 5 years left in me.
Title: Re: Race from $1M to $2M
Post by: trashtalk on November 19, 2019, 09:50:49 AM
I've been reading MMM for years but have been indoctrinated for decades to not talk about money.  Finally feel like putting it out there since out LNW passed $1M.

Nov 2019:   LNW: $1.048M  TNW:  $2.176M

Wife and I are mid-40s, she's taking a longish break from a corporate career that could potential evolve into full-on retirement for her.  I think I probably have 5 years left in me.

Congrats! Breaking the money-talk taboo feels great once you get past the initial discomfort. Welcome to the thread.
Title: Re: Race from $1M to $2M
Post by: Watchmaker on November 19, 2019, 09:58:39 AM
I've been reading MMM for years but have been indoctrinated for decades to not talk about money.  Finally feel like putting it out there since out LNW passed $1M.

Nov 2019:   LNW: $1.048M  TNW:  $2.176M

Wife and I are mid-40s, she's taking a longish break from a corporate career that could potential evolve into full-on retirement for her.  I think I probably have 5 years left in me.

Congrats!

You say you probably have 5 years left; can you expand on what you mean by that? Because surely it's not "5 years until FIRE" with that NW. If it's you "can put up with 5 more years", why not get out sooner? If it's you'll "enjoy working for 5 more years" than great, but you don't seem excited.

Five years is a long time.
Title: Re: Race from $1M to $2M
Post by: Allie on November 19, 2019, 10:54:03 AM
Yesterday, we just barely hit the 1.75m milestone for TNW.  It seemed like a number to post here!
Title: Re: Race from $1M to $2M
Post by: CANStache on November 19, 2019, 06:39:24 PM
Congrats!

You say you probably have 5 years left; can you expand on what you mean by that? Because surely it's not "5 years until FIRE" with that NW. If it's you "can put up with 5 more years", why not get out sooner? If it's you'll "enjoy working for 5 more years" than great, but you don't seem excited.

Five years is a long time.
Thanks!

My work is not onerous at all - good job making good money for a good company, and the lifestyle is semi-RE already.  I work from home for the most part and get a lot of downtime.  So my family already travels a couple of times a year and engage in our hobbies, and two of our kids are still at home with us, letting us stay active with them and in our community.

So while we might be able to consider ourselves semi-FI already, I have no big push to RE just yet.  I get a fair number of perks from work as well, beyond the paycheque.  5 years will get my youngest to uni, and won't hurt our numbers, either...
Title: Re: Race from $1M to $2M
Post by: Watchmaker on November 20, 2019, 07:19:26 AM
Thanks!

My work is not onerous at all - good job making good money for a good company, and the lifestyle is semi-RE already.  I work from home for the most part and get a lot of downtime.  So my family already travels a couple of times a year and engage in our hobbies, and two of our kids are still at home with us, letting us stay active with them and in our community.

So while we might be able to consider ourselves semi-FI already, I have no big push to RE just yet.  I get a fair number of perks from work as well, beyond the paycheque.  5 years will get my youngest to uni, and won't hurt our numbers, either...

Sounds like a good balance. Enjoy!
Title: Re: Race from $1M to $2M
Post by: cloudsail on November 20, 2019, 01:51:53 PM
Yesterday our LNW passed $2.15M, with TNW at $3.1M. It's a little unreal. I don't think DH and I ever imagined we would have this much money.

I think I am going to officially graduate from this group and move into the next one. Hope to see you all there!
Title: Re: Race from $1M to $2M
Post by: CANStache on November 20, 2019, 06:26:47 PM
Yesterday our LNW passed $2.15M, with TNW at $3.1M. It's a little unreal. I don't think DH and I ever imagined we would have this much money.

I think I am going to officially graduate from this group and move into the next one. Hope to see you all there!

Congrats!  Those numbers DO seem unreal to someone barely qualifying for this thread.  But our accumulation has definitely been accelerating, so maybe we'll meet again.... ;)
Title: Re: Race from $1M to $2M
Post by: Cornbread OMalley on November 21, 2019, 08:44:28 AM
Yesterday our LNW passed $2.15M, with TNW at $3.1M. It's a little unreal. I don't think DH and I ever imagined we would have this much money.
Congratulations!
Title: Re: Race from $1M to $2M
Post by: KBecks on November 21, 2019, 05:14:27 PM
We paid off the mortgage and so now this might be the place to hang out an goal-set for a while.  I have to add it up to see where we are at.  I'm guessing we are around 1.3 TNW and 1.05 LNW, but I haven't looked and I feel like we haven't been gaining lately -- we probably have, though... just need to check.
We took a spendy vacation for our 20th wedding anniversary and you know, it's OK. 
Now I am looking at sending three children to college in a few short years and I don't feel like we are well-prepared yet.
Title: Re: Race from $1M to $2M
Post by: mastrr on November 22, 2019, 06:33:56 PM
How are you calculating Liquid Net Worth?  Specifically in relation to equity and debt on a primary residence.  Do you just remove the current value of your house from being an asset but still use your mortgage as a liability?
Title: Re: Race from $1M to $2M
Post by: cloudsail on November 23, 2019, 12:19:33 AM
How are you calculating Liquid Net Worth?  Specifically in relation to equity and debt on a primary residence.  Do you just remove the current value of your house from being an asset but still use your mortgage as a liability?

No, as long as I'm not underwater I just remove both equity and mortgage from my calculations.
Title: Re: Race from $1M to $2M
Post by: Bateaux on November 23, 2019, 06:31:43 AM
Yesterday our LNW passed $2.15M, with TNW at $3.1M. It's a little unreal. I don't think DH and I ever imagined we would have this much money.

I think I am going to officially graduate from this group and move into the next one. Hope to see you all there!

Come on in.  You'd think the 2 to 3 and beyond is the advanced class.  Nothing could be further from the truth.  For us the heavy lifting is done.  We no longer worry about buying coffee, avacado toast or fret about how old our cars are.  Most of us will never spend what we've saved.  Lots of our money will likely be given away.
Title: Re: Race from $1M to $2M
Post by: KBecks on November 23, 2019, 07:08:01 AM
We paid off the mortgage and so now this might be the place to hang out an goal-set for a while.  I have to add it up to see where we are at.  I'm guessing we are around 1.3 TNW and 1.05 LNW, but I haven't looked and I feel like we haven't been gaining lately -- we probably have, though... just need to check.
We took a spendy vacation for our 20th wedding anniversary and you know, it's OK. 
Now I am looking at sending three children to college in a few short years and I don't feel like we are well-prepared yet.

I set up an automatic deposit in the amount of our mortgage payment into our brokerage account.  For now it is going into cash while I think about the possibilities.  We will sock away another $20k per year.  I also looked at Zillow, which says our home is worth about $20k more than I was estimating.  We are at approximately $1.4 TNW and $1.1 LNW. 

I should get back to Mustaschian basics and look at our total spend.  We are a little fancy pants at time and fritter away money via small purchases, lunches, convenience, etc.  I liked his recent blog post on pizza delivery vs. making your own pizza.  I have been looking at Zillow at duplexes, but managing a rental seems far off for us and I may look at selling put options as an alternative, particularly while our taxable account is accumulating more dollars.  We do not have a down payment amount at the ready just yet, and there are so many questions related to real estate -- local and self-managed?  turnkey?  local with a property manager?  Single-family?  Duplex?  Great neighborhood or merely OK neighborhood?  Which one?

The market is not inexpensive, so I do not mind waiting. My co-worker's family buys and fixes up duplexes. They put a lot of work into it. 

I also need to look at our retirement #, but I do not know if we will really retire until all 3 children are launched into adulthood.
Title: Re: Race from $1M to $2M
Post by: MishMash on November 28, 2019, 09:09:49 AM
Officially closed the 2M mark.  71 of that is in our house, but on the flip side we have a large collection of antique gold coins that are worth about that much (DH inherited them from his grandfather whose mother smuggled them out of Nazi Germany) so while he will never sell them, I consider them a tangible asset. 

We are 40 and 37 and haven't really contributed anything in 1.5 years, DH is burning out FAST in the military, and I don't blame him. So we've spent more money doing fun things and spreading the wealth a bit to those around us.  We were also carrying two houses for 6 months this year. Two more years and he will be eligible for pension and health benefits and he never wants to work in an office, especially one without windows ever gain. 
Title: Re: Race from $1M to $2M
Post by: Bird In Hand on November 28, 2019, 07:50:20 PM
LNW (barely) crested $1.5M for the first time yesterday, TNW is very close to $1.9M.

LNW has been a little over $1.6M for a week or so, with TNW at just over $2.0M.
Title: Re: Race from $1M to $2M
Post by: Arbitrage on November 29, 2019, 05:02:53 PM
Officially entering the race!

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
Title: Re: Race from $1M to $2M
Post by: Freedomin5 on November 30, 2019, 05:01:51 AM
Iím also officially joining having just graduated from the 500k to 1M thread.

Nov 2019: 1.001M
Title: Re: Race from $1M to $2M
Post by: TempusFugit on November 30, 2019, 09:09:26 AM
Welcome new entrants @Arbitrage and @Freedomin5 !
Title: Re: Race from $1M to $2M
Post by: Freedomin5 on November 30, 2019, 03:46:57 PM
@TempusFugit  Thank you! Iím excited to be here....finally!
Title: Re: Race from $1M to $2M
Post by: JGS1980 on December 01, 2019, 09:56:43 AM
And..... Iím also joining this next race!  Posting quarterly.  Goal is get to 2 Million in 48 months.

Dec -19 $1,009,000

JGS
Title: Re: Race from $1M to $2M
Post by: Arbitrage on December 02, 2019, 08:14:07 AM
Welcome new entrants @Arbitrage and @Freedomin5 !

Thank you much.  Plan on hitting the RE button long before $2M LNW, though I may get there in TNW. 
Title: Re: Race from $1M to $2M
Post by: CANStache on December 04, 2019, 09:39:53 PM
Welcome other new kids!

I feel a little out of place, when I look at proportions.  50% of our NW is tied up in a paid off house near Toronto, Canada.  These last couple of months have had wonderful gains for the other million in ETFs, but are we shooting ourselves in the foot by managing our dollars this way?  We won't live in this place forever, so it's a part of our retirement planning in terms of dollars, but maybe we should be enjoying these historically low rates and good returns.
Title: Re: Race from $1M to $2M
Post by: JGS1980 on December 05, 2019, 07:55:17 AM
Welcome other new kids!

I feel a little out of place, when I look at proportions.  50% of our NW is tied up in a paid off house near Toronto, Canada.  These last couple of months have had wonderful gains for the other million in ETFs, but are we shooting ourselves in the foot by managing our dollars this way?  We won't live in this place forever, so it's a part of our retirement planning in terms of dollars, but maybe we should be enjoying these historically low rates and good returns.

What are the interest rates in Canada right now?
Title: Re: Race from $1M to $2M
Post by: LeftA on December 05, 2019, 04:11:29 PM
@CANStache , I feel that this is the reality of living in one of the major cities in Canada if you choose to be a homeowner.
Title: Re: Race from $1M to $2M
Post by: CANStache on December 06, 2019, 09:42:29 AM
What are the interest rates in Canada right now?

Under 3%.  Considering my plain jane couch potato ETFs are on course for ~18% this year, it feels like a bad tradeoff.  Now I just need to learn how to send emails back in time...

Quote from: LeftA
@CANStache , I feel that this is the reality of living in one of the major cities in Canada if you choose to be a homeowner.

Agreed.  By no means have our home purchases been BAD "investments"...just not optimal ones.