Author Topic: Race from $1M to $2M  (Read 210295 times)

beeboy

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Re: Race from $1M to $2M
« Reply #850 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!

Bird In Hand

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Re: Race from $1M to $2M
« Reply #851 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.

Herbert Derp

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Re: Race from $1M to $2M
« Reply #852 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

SparkyPeanut

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Re: Race from $1M to $2M
« Reply #853 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...?

Bateaux

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Re: Race from $1M to $2M
« Reply #854 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.

arebelspy

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Re: Race from $1M to $2M
« Reply #855 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.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

tipster350

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Re: Race from $1M to $2M
« Reply #856 on: June 13, 2019, 08:37:53 AM »
His parents buy his underwear and socks.

Bateaux

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Re: Race from $1M to $2M
« Reply #857 on: June 13, 2019, 08:48:38 AM »
Cheering him on to the next thread.  He'll be there and passing us soon!

beeboy

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Re: Race from $1M to $2M
« Reply #858 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!

cloudsail

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Re: Race from $1M to $2M
« Reply #859 on: June 19, 2019, 03:28:48 PM »
Yep, I'm at 1.87M now, hoping to reach 2M soon!

TempusFugit

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Re: Race from $1M to $2M
« Reply #860 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. 

cloudsail

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Re: Race from $1M to $2M
« Reply #861 on: June 19, 2019, 04:30:50 PM »
What does LNW stand for?

arebelspy

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Re: Race from $1M to $2M
« Reply #862 on: June 19, 2019, 04:38:34 PM »
Liquid net worth, I'd guess (versus total net worth).
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

cloudsail

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Re: Race from $1M to $2M
« Reply #863 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.

TempusFugit

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Re: Race from $1M to $2M
« Reply #864 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.   

beeboy

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Re: Race from $1M to $2M
« Reply #865 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.

Roboturner

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Re: Race from $1M to $2M
« Reply #866 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!

wannabe-stache

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Re: Race from $1M to $2M
« Reply #867 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.


iluvzbeach

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Re: Race from $1M to $2M
« Reply #868 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!

Zoot

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Re: Race from $1M to $2M
« Reply #869 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)

arebelspy

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Re: Race from $1M to $2M
« Reply #870 on: July 04, 2019, 10:07:31 PM »
Congrats Zoot! July 4 is indeed a fitting day :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

frugalecon

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Re: Race from $1M to $2M
« Reply #871 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!

freya

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Re: Race from $1M to $2M
« Reply #872 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.

« Last Edit: July 05, 2019, 03:58:15 PM by freya »

Watchmaker

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Re: Race from $1M to $2M
« Reply #873 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

aspiringnomad

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Re: Race from $1M to $2M
« Reply #874 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.

winkleweizen

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Re: Race from $1M to $2M
« Reply #875 on: July 07, 2019, 12:10:24 AM »
march 2019: 1.04m
july 2019: 1.18m

Herbert Derp

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Re: Race from $1M to $2M
« Reply #876 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

beeboy

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Re: Race from $1M to $2M
« Reply #877 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!

Watchmaker

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Re: Race from $1M to $2M
« Reply #878 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!


beeboy

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Re: Race from $1M to $2M
« Reply #879 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!

Watchmaker

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Re: Race from $1M to $2M
« Reply #880 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.

cloudsail

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Re: Race from $1M to $2M
« Reply #881 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!

beeboy

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Re: Race from $1M to $2M
« Reply #882 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!

Money Badger

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Re: Race from $1M to $2M
« Reply #883 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!   

MoneyTree

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Re: Race from $1M to $2M
« Reply #884 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.

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #885 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.

aetheldrea

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Re: Race from $1M to $2M
« Reply #886 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?

Bird In Hand

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Re: Race from $1M to $2M
« Reply #887 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.

freya

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Re: Race from $1M to $2M
« Reply #888 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).

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #889 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.

cloudsail

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Re: Race from $1M to $2M
« Reply #890 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.

aetheldrea

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Re: Race from $1M to $2M
« Reply #891 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.

arebelspy

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Re: Race from $1M to $2M
« Reply #892 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.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

freya

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Re: Race from $1M to $2M
« Reply #893 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.

arebelspy

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Re: Race from $1M to $2M
« Reply #894 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.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

texxan1

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Re: Race from $1M to $2M
« Reply #895 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


cloudsail

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Re: Race from $1M to $2M
« Reply #896 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!

LeftA

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Re: Race from $1M to $2M
« Reply #897 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.




Money Badger

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Re: Race from $1M to $2M
« Reply #898 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!

bgfoot

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Re: Race from $1M to $2M
« Reply #899 on: July 20, 2019, 01:38:10 PM »
My updated numbers as of 7/19
Taxable 554
Deferred 774
HSA 14

Total 1342