Author Topic: Race from $1M to $2M  (Read 534048 times)

Bateaux

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Re: Race from $1M to $2M
« Reply #1000 on: December 14, 2019, 06:04:06 PM »
More progress. Hoping I can reach my goal before the recession hits!

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
12/14/2019: $1,628,320.78

You've made tremendous progress.  When do you predict the recession will come.  I've expected it for years, we keep throwing low interest and QE at the problem.  A correction will come, but the timing is lost to me.

Herbert Derp

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Re: Race from $1M to $2M
« Reply #1001 on: December 15, 2019, 03:45:06 AM »
Wish I knew! It's in Trump's interest to stave it off until the election is decided next year, so we'll see what happens.

JGS1980

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Re: Race from $1M to $2M
« Reply #1002 on: December 15, 2019, 08:57:15 AM »
Isn’t it always in every president’s interest to hold off a recession? I’m no Trump fan, but I see no difference in the current political environment in regards to this issue.

arebelspy

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Re: Race from $1M to $2M
« Reply #1003 on: December 15, 2019, 10:27:47 AM »
Such random dates. The mid-January 2018 cracks me up.

Nice progress, HD.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #1004 on: December 15, 2019, 01:50:54 PM »
Keep it going, Herbert Derp!

Fomerly known as something

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Re: Race from $1M to $2M
« Reply #1005 on: December 16, 2019, 07:32:12 PM »
With the close of today, my taxable account is now more than $500,000 just by itself.  It still at times boggles my mind, especially since I didn't really focus on it until the past 3 years.  I'm finally beginning to believe emotionally what I know intellectually about being comfortable, really dam comfortable.

TempusFugit

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Re: Race from $1M to $2M
« Reply #1006 on: December 17, 2019, 05:18:21 PM »

... 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...


When I read this I remember thinking "Hmmm, that's a cool next goal to stay motivated"

I looked up my mortgage balance on the next statement to see where I'd have to be in the LNW and now this week I've crossed that little milestone.   

Seems like I just got into this race and going from $1M to $2M is such a loooong way (it's like a million dollars) that I need these little mini-goals in between. 

Jan  2018   - TNW hit the $1M mark
June 2019   - LNW caught up and hit the big $1M, where I felt "official"
Dec 2019    - LNW is enough to pay off my mortgage and still be >$1M (which I'm not doing, of course)

Now I have to think of another mini-goal.   Darn it. 

tipster350

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Re: Race from $1M to $2M
« Reply #1007 on: December 20, 2019, 06:11:09 AM »

... 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...


When I read this I remember thinking "Hmmm, that's a cool next goal to stay motivated"

I looked up my mortgage balance on the next statement to see where I'd have to be in the LNW and now this week I've crossed that little milestone.   

Seems like I just got into this race and going from $1M to $2M is such a loooong way (it's like a million dollars) that I need these little mini-goals in between. 

Jan  2018   - TNW hit the $1M mark
June 2019   - LNW caught up and hit the big $1M, where I felt "official"
Dec 2019    - LNW is enough to pay off my mortgage and still be >$1M (which I'm not doing, of course)

Now I have to think of another mini-goal.   Darn it.

I just reached this milestone, and it feels far more significant than crossing the $1 million threshold. I feel FI, even though I want a little more to have the safety and comfort I'm looking for.

Roboturner

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Re: Race from $1M to $2M
« Reply #1008 on: December 20, 2019, 09:08:54 AM »
So it (half) happened!

Hit 2MM in TNW today! 1.8 liquid so I'll stick around until then, hopefully mid-next year if the market doesn't die - whoop!

Bloop Bloop

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Re: Race from $1M to $2M
« Reply #1009 on: December 20, 2019, 09:25:28 AM »
Had a good month. Billed $50k, which is about $20k in hand after taxes and expenses. Property went up 1% this month which translates to a net worth increase of $15k there too. So all up NW went up 0.035m this month - if only all months were this good.

Allie

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Re: Race from $1M to $2M
« Reply #1010 on: December 20, 2019, 02:44:33 PM »
We moved above 1.8 TNW this week.  LNW is somewhere above 1.65.  End of the year stuff should push it a bit higher still, but this seemed like a nice round number to report.  :)

SCUBAstache

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Re: Race from $1M to $2M
« Reply #1011 on: December 22, 2019, 01:32:41 PM »
New member excitedly checking in! Just hit my second comma this week, a nice way to close out the year for sure. I'm not sure exactly what my FIRE number is these days... probably whatever number I'm at when I'm sick of working? My husband would like me to keep working indefinitely, I think, he's not totally sold on FIRE "working" and likes toys more than I do... I'm pretty sure I could quit now with our mutual assets and live a reasonable lifestyle just fine (just less fancy vacations and less toys). This past year I've been enjoying my job much, much more (and the free rent it comes with) so for now I'm happy enough to go along with it. He is older, has a small but not insignificant pension from the military (plus cheap health insurance for our family for life, a huge perk since we're American), and walked away from his six-figure contracting gig to come live overseas with me. He is now a stay at home dad to our almost 5 month old baby. We got married later in life and keep our finances separate. I track total net worth, but it's about 40% 401k / 40% after tax index funds / 10% emergency fund. I should probably make the e-fund smaller, but it gives me a sense of comfort.

Timeline for my future reference:

December 2019: 1010k
June 2019: 900k
February 2019: 845k
December 2018: 777k
December 2017: 812k
December 2016: 650k
December 2015: 487k
December 2014: 412k
December 2013: 350k

monarda

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Re: Race from $1M to $2M
« Reply #1012 on: December 22, 2019, 05:23:21 PM »
Hi guys,
I'm not quite ready to join you, but close. I just thought I'd see what it's like over here.
If I count my home equity, I'll be joining you soon.
But not for real for another ~2 years

BMP2CPM@gmail.com

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Re: Race from $1M to $2M
« Reply #1013 on: December 28, 2019, 09:38:23 PM »
I would like to join this race!

I'm 50 and my wife is 45. This year, 2019, has been a great year for the nest egg. I still cannot grasp the numbers.

Here are the notable milestone regarding the nest egg (2/3 retirement investments + 1/3 taxable investments):

December 2016 $725,000
Q4 2017 $825,000
Feb 22 2019 $970,059
April 23 2019 $1,002,103
Jun 17 2019 $994,941
Aug 30 2019 $1,012,231
Oct 28 2019 $1,052,755
Nov 26 2019 $1,085,300
Dec 27 2019 $1,111,165


Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #1014 on: December 29, 2019, 11:13:12 AM »
New member excitedly checking in! Just hit my second comma this week, a nice way to close out the year for sure.

I would like to join this race!

I'm 50 and my wife is 45. This year, 2019, has been a great year for the nest egg. I still cannot grasp the numbers.
Very nice way to close out 2019!

Bloop Bloop

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Re: Race from $1M to $2M
« Reply #1015 on: December 29, 2019, 06:43:12 PM »
The Australian share market hit nearly 7,000 in 2007, dropped to 3,000 after the GFC, was at 5,500 at the beginning of this year and today is at 6,900.

Part of me wishes that we could have another collapse to 3,000 so that I could buy in again. I feel like I've hugely missed the boat on the recovery, by investing 80/20 in property from 2011-19 (though property also did okay during the period). In fact generally I'm wary of economic good times because I feel they are unlikely to last and also because I think bargains are much easier to come by (whether shares or property) when the economy is reeling.

Anyone want to chime in on why I'm wrong to think like this? I'm still young, have 10+ years till FIRE and I think it is safe to assume I work in an industry where job security is very high and where the state of the economy is unlikely to change my own income-earning prospects.

TempusFugit

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Re: Race from $1M to $2M
« Reply #1016 on: December 30, 2019, 07:49:14 AM »
The Australian share market hit nearly 7,000 in 2007, dropped to 3,000 after the GFC, was at 5,500 at the beginning of this year and today is at 6,900.

Part of me wishes that we could have another collapse to 3,000 so that I could buy in again. I feel like I've hugely missed the boat on the recovery, by investing 80/20 in property from 2011-19 (though property also did okay during the period). In fact generally I'm wary of economic good times because I feel they are unlikely to last and also because I think bargains are much easier to come by (whether shares or property) when the economy is reeling.

Anyone want to chime in on why I'm wrong to think like this? I'm still young, have 10+ years till FIRE and I think it is safe to assume I work in an industry where job security is very high and where the state of the economy is unlikely to change my own income-earning prospects.


I understand the sentiment, but we shouldn't ever wish for circumstances that harm other people.  Another big recession like the one from '08 would do a lot of damage to a lot of people even if some of us might benefit financially in the long run.  Certainly we on this thread are doing just fine without needing to take advantage of another recession. 

It's kind of hard to imagine but still most people are not prepared for the next downturn.  When it arrives it's going to be painful, and honestly with the state of political discourse in the Western world right now, I'm not thrilled at the prospect of the kind of idiocy that might come out of it. 

talltexan

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Re: Race from $1M to $2M
« Reply #1017 on: December 30, 2019, 08:53:34 AM »
SP500 has been up 28% over start-of-year lows. Some of you ought to be graduating, shouldn't you?

Freedomin5

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Re: Race from $1M to $2M
« Reply #1018 on: December 30, 2019, 05:07:59 PM »
I’ll be updating quarterly, so here is our December number.

Nov 2019: 1.001M
Dec 2019: 1.013M

Zamboni

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Re: Race from $1M to $2M
« Reply #1019 on: December 31, 2019, 07:32:25 AM »
                      LNW           TNW
Nov 2019     $1.02MM     $1.18MM
Dec 2019     $1.02MM     $1.24MM

Herbert Derp

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Re: Race from $1M to $2M
« Reply #1020 on: January 01, 2020, 02:56:21 AM »
$295K to go! Happy New Year!

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
12/14/2019: $1,628,320.78
01/01/2020: $1,705,284.27

Blissful Biker

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Re: Race from $1M to $2M
« Reply #1021 on: January 01, 2020, 09:19:02 AM »
                  LNW         TWN
2018 YE    $1.13M    $1.66M
1Q2019     $1.26M    $1.77M
2Q2019     $1.26M    $1.77M
3Q2019     $1.33M    $1.84M
4Q2019     $1.38M    $1.90M

These are little Canadian dollars, but NW growth of $250K in the year is pretty good.  I am happy.  It's been a good year in the markets.

We're pulling the FIRE pin at $2M LNW.  A few more years to go.

JGS1980

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Re: Race from $1M to $2M
« Reply #1022 on: January 01, 2020, 10:53:10 AM »

And..... I’m also joining this next race!  Posting quarterly from now on.

Dec -19 $1,009,000
Jan -20  $1,094,606 (+135,821 for the quarter)

JGS

SEAK

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Re: Race from $1M to $2M
« Reply #1023 on: January 01, 2020, 11:06:24 AM »
Very happy about our 2019 gains and contributions that pushed us into this thread. With salary increases of around $20k, 2020 is looking to be another solid year. I'm 45, wife 43 w/ kids aged 12 and 10. We've got around another $1M in our pension value, home equity, and kiddos college savings.

Here's to a successful 2020!

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

freya

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Re: Race from $1M to $2M
« Reply #1024 on: January 01, 2020, 11:24:44 AM »
Whoo-eee, what a year!  The big market dip last December made for some really exciting year on year numbers.

I started 2019 at $939K (liquid) and joined this club in April after crossing the $1 million mark.  I'm now at $1.27 million, a gain of $300K for the year.   Breathtaking!  For total assets (counting home and mortgage) I'm at $1.6M.  To be fair though...last year's gain was under $100K due to the market correction.

I had a little fun after figuring my net worth playing with FIREcalc.  And discovered that if I take SS a few years early (age 67 instead of age 70) I'd have a 99% success rate if I quit my job right now.  Oooh, the possibilities!!!

TempusFugit

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Re: Race from $1M to $2M
« Reply #1025 on: January 01, 2020, 01:13:42 PM »
2019 is in the books now and the final numbers are in:

                 LNW    /  TNW
EOY 2018 - 877K   / 1.02M
EOY 2019 - 1.12M  / 1.275M

A nice 250K increase YoY.  I have a pretty conservative AA, so I know lots of you 90+% equity types must've really hit some big numbers this year.
« Last Edit: January 01, 2020, 09:28:11 PM by TempusFugit »

AccidentalMiser

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Re: Race from $1M to $2M
« Reply #1026 on: January 01, 2020, 05:11:05 PM »
Hit 1.2 M today for the first time.  Market is scary but I'm going to hold fast and keep pouring it in every two weeks.  1049 days to RE.  Maybe sooner but I think I should wait until the year I turn 55.

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

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

Roboturner

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Re: Race from $1M to $2M
« Reply #1027 on: January 01, 2020, 07:12:49 PM »
Spoiler: show
Q2 2016:
LNW: 528k
TNW: 720k

Q3 2016:
LNW: 652k
TNW: 845k

YE 2016:
LNW: 685k
TNW: 893k

Q1 2017:
LNW: 800k
TNW: 1001k

Q2 2017:
LNW: 845k
TNW: 1060k

Q3 2017:
LNW: 921k
TNW: 1142k

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

Q1 2018:
LNW: 1.09 MM
TNW: 1.33 MM

Q2 2018:
LNW: 1.16 MM
TNW: 1.45 MM

Q3 2018:
LNW: 1.28 MM
TNW: 1.57 MM

YE 2018:
LNW: 1.14 MM
TNW: 1.43 MM

Q1 2019:
LNW: 1.41 MM
TNW: 1.71 MM

Q2 2019:
LNW: 1.60 MM
TNW: 1.78 MM

Q3 2019:
LNW: 1.64 MM
TNW: 1.82 MM



YE 2019:
LNW: 1.84 MM
TNW: 2.02 MM

redhead84

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Re: Race from $1M to $2M
« Reply #1028 on: January 02, 2020, 08:12:31 AM »
NW increased by $460K this year. We are still solidly in the race ($1.76 TNW/$1.4K LNW) but much further ahead than expected.

MishMash

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Re: Race from $1M to $2M
« Reply #1029 on: January 02, 2020, 03:08:40 PM »
We've officially graduated the thread, December saw TNW of 2.1 with a LNW at a little over 2!  Stocks added an additional 20 today, which just seems insane to me.

Fomerly known as something

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Re: Race from $1M to $2M
« Reply #1030 on: January 03, 2020, 05:04:56 AM »
Congrats, MishMash, don't disappear on us.  Be like Dicey stick around and visit.

The TSP, has a "button" which shows your personal return for the past 12 months updated monthly on the 3rd of the month.  Insane my PRP for 2019 was 26.2% in just that one account.

talltexan

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Re: Race from $1M to $2M
« Reply #1031 on: January 03, 2020, 07:46:46 AM »
SP500 returned over 30% for calendar year 2019. But it was also negative for 2018, so you put the two years together and it's more normal. Most of my co-workers outreturned me last year because they had higher allocations to it (I have more bonds and more international/value).

FireLane

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Re: Race from $1M to $2M
« Reply #1032 on: January 03, 2020, 12:01:21 PM »
My net worth rose over $400,000 in 2019 from the crazy bull market year. As of this week, I'm at $1.61M LNW, $1.88M TNW. The big $2M is in sight!

YellowCat

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Re: Race from $1M to $2M
« Reply #1033 on: January 03, 2020, 12:39:23 PM »
Joining! Household NW as of 1 Jan 2020 is $1,030,547, including home equity and 2 paid off cars (~$112k of that total).

ted1858

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Re: Race from $1M to $2M
« Reply #1034 on: January 03, 2020, 07:33:20 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

1/2019: 1.10 MM
1/2020: 1.47 MM

How far can this market go???

MishMash

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Re: Race from $1M to $2M
« Reply #1035 on: January 04, 2020, 02:55:08 PM »
Congrats, MishMash, don't disappear on us.  Be like Dicey stick around and visit.

The TSP, has a "button" which shows your personal return for the past 12 months updated monthly on the 3rd of the month.  Insane my PRP for 2019 was 26.2% in just that one account.

Lol yea I was looking at that in DHs TSP the other day, what was more insane is one of our stock accounts (individual stocks) went up 42% due to uncomfortably large posiitions in VISA (purchased at IPO) and Bank of America (that we bought at the bottom)

ca-rn

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Re: Race from $1M to $2M
« Reply #1036 on: January 05, 2020, 05:37:11 PM »
joining in! 

hard to process that i passed the 1 million mark- grew up poor but knew not to spend more than i make.

i don't know what my RE number is anymore....i technically "hit" my arbitrary number but do not think its accurate because healthcare is provided by employer currently.

so now my 2020 goal create a spreadsheet and input numbers to see what i actually spend... started this last year and only filled it up part way. 

and this is the first year i get to contribute the "catch up" amount in 401k and ira! 

numbers only include 401k/Rira/taxable, does not include savings/checking/ibonds or house value.

January:
2010- 69K
2011- 105K
2012- 128K
2013- 197K
2014- 412K
2015- 477K
2016- 536K
2017- 651K
2018- 825K
2019- 937K
2020- 1231K

it took about 10 years to get to 100K, 5 years to 500K and 3 years to 1 million.

ScottsdaleSaver

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Re: Race from $1M to $2M
« Reply #1037 on: January 08, 2020, 03:26:06 PM »
Hopping over from the $500K to $1M thread.

The term I've heard for our plan is "coast FIRE" - i.e., we could stop investing and work to only cover our annual needs from here, while reasonably expecting our investments to be high enough for full retirement. Our number before we would stop working all together is ~$2M. My plan is to start working part time mid-next year, husband is TBD.

12/2019 - $1,106K - $350K in home equity, remainder in cash/investments
9/2019 - $1,002K
6/2019 - $945K
12/2018 - $803K
9/2018 - $850K
6/2018 - $799K
3/2018 - $756K
12/2017 - $719K
9/2017 - $670K
6/2017 - $630K
« Last Edit: January 08, 2020, 03:28:07 PM by ScottsdaleSaver »

Arbitrage

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Re: Race from $1M to $2M
« Reply #1038 on: January 09, 2020, 08:39:18 AM »
Somehow forgot to update with the New Year. 

Liquid NW / Total NW

1/1/16: $455k / 675k
1/1/17: $555k / 822k
1/1/18: $735k / 1.071M
1/1/19: $765k / 1.152M
12/1/19: $1.011M / 1.477M
1/1/20: $1.049M / 1.531M

ericbonabike

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Re: Race from $1M to $2M
« Reply #1039 on: January 09, 2020, 12:02:51 PM »
5/1/2016:  ~$2 million (Pre Divorce)
6/1/2016:  ~0.9 million (Post Divorce)  Not sure why I got less than half of total assets, I guess because I have a Y chromosome

1/1/2017:   ~1.1 million Got Remarried
1/1/2018:   ~1.1 million  Had a baby boy.  2017 was pretty much a total financial flatline.  But stayed the course and we both cut our hours down to 30 hours a week.  (Best money I've ever spent).
1/1/2019:    ~1.45 million.  Glad I kept my money in the market. 

I've got  5.5 years until my older kids are out of high school.  Then I'm FIRE'd.  The financial fallout of divorce was significant, but I'm about halfway recovered financially.  And I credit MMM and Jcollins for that.   It could have easily spiraled the opposite direction. 
« Last Edit: January 09, 2020, 12:09:26 PM by ericbonabike »

marty998

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Re: Race from $1M to $2M
« Reply #1040 on: January 11, 2020, 03:48:50 AM »
I have no idea when the last time I posted in this thread was. Sorry guys. But a short update I shall give.

31/12/2017:  $1.084m
31/12/2018:  $1.176m
31/12/2019:  $1.330m (includes a generous gift from mum and dad of $70k)
2020 so far:   $1.365m

2019 was actually pretty crap discounting the gift from the parents. The Sydney property market rebounded, but only for houses, and not for apartments like mine which kept falling in value as they did in 2018. At the end of 2017 I had two properties valued at a combined $1.25m (gross assets, before mortgages). By the end of 2019, the bank valued them at $1.06m. I'm not terribly fussed by that, they are still well up on the original purchase prices. The boom carried them too high and they came back to something more reasonable.

The rest of my changes to get the increases have come from savings, post retirement funds and share investment gains, less a small chunk spent on a big holiday just the last month around Sth America.

What is nice in 2020 so far is that the Bank has revalued the properties up by $10k each, and the shares have gone up a little too. $35k in 11 days of January is a great start to the year :D

Cornbread OMalley

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Re: Race from $1M to $2M
« Reply #1041 on: January 13, 2020, 11:09:52 PM »
Alright!  I'm happy to report that my NW made it past the $1.8 million mark.  It actually went past the mark today and landed squarely on $1,806,068.63.

chicklets123

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Re: Race from $1M to $2M
« Reply #1042 on: January 14, 2020, 11:49:11 AM »
Does your current home count into the equation if you don’t plain to sell t while on FIRE?


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ixtap

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Re: Race from $1M to $2M
« Reply #1043 on: January 14, 2020, 12:13:13 PM »
Does your current home count into the equation if you don’t plain to sell t while on FIRE?


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There are approximately 1000 threads on this question. The best answer is: be consistent and be honest with yourself.

zinnie

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Re: Race from $1M to $2M
« Reply #1044 on: January 16, 2020, 02:58:24 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 I’m 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

I’d like to be done Aug 2021. I’ll 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 :)

And the good times continue. Now Mint says I’ll hit my number in April 2021.
Liquid: $1.33M
Net Worth: $1.60M

ReadyOrNot

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Re: Race from $1M to $2M
« Reply #1045 on: January 16, 2020, 05:20:41 AM »
Wow I'd like to join the fun.

I haven't really done a NW exercise until recently to see how far my family is on track for FIRE.

NW $1.65m
Liquid NW: $1.3m

Net pay of $140k, savings rate of ~40% means adding $60k to the stashe aside from investment growth.  I think we're at the point where passive growth is equal to or greater than actual active income, which is really amazing.

I'm hoping we hit $2m or $2.5m in the next 5 years or so, and then assess if we want to stop working.  If our stashe should hit $2m before that, it will be extra tempting to RE.

talltexan

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Re: Race from $1M to $2M
« Reply #1046 on: January 16, 2020, 07:23:15 AM »
5/1/2016:  ~$2 million (Pre Divorce)
6/1/2016:  ~0.9 million (Post Divorce)  Not sure why I got less than half of total assets, I guess because I have a Y chromosome

1/1/2017:   ~1.1 million Got Remarried
1/1/2018:   ~1.1 million  Had a baby boy.  2017 was pretty much a total financial flatline.  But stayed the course and we both cut our hours down to 30 hours a week.  (Best money I've ever spent).
1/1/2019:    ~1.45 million.  Glad I kept my money in the market. 

I've got  5.5 years until my older kids are out of high school.  Then I'm FIRE'd.  The financial fallout of divorce was significant, but I'm about halfway recovered financially.  And I credit MMM and Jcollins for that.   It could have easily spiraled the opposite direction.

Congratulations for continuing the positive momentum! I do not know the specifics of your divorce, but I've worked in the industry, and I would be very surprised to see the Total NW of the two spouses be anything close to the NW before the divorce. Lawyers and experts and a whole lot of people are part of the process and they all get paid.

Bourbon

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Re: Race from $1M to $2M
« Reply #1047 on: January 21, 2020, 12:29:34 PM »
Jumping in and we are already a bit down the line -

Jan 2019  - $1.7M
Sep 2017 - $983K
July 2016 - $774K
June 2015 - $670K
June 2014 - $500K


About $120K of that is in kid's 529 accounts, and another $180K is equity in primary residence. 

BlueHouse

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Re: Race from $1M to $2M
« Reply #1048 on: January 22, 2020, 12:26:15 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!

Hmmmm.  I don't know quite how to explain this rapid rise, but tomorrow, this same 401K will pass $1.1M.  I made my 2019 max profit sharing contribution of $32K, but was there really growth of $70K in 2.5 months? 

With all of my liquid accounts, I am getting very close to the $2M mark.  Also tomorrow, I'll be wired back some funds that I loaned to a family member.  I gave $115K and I'll get back $82K. (I knew this going in and was okay with it).  I'm dancing around in my chair right now. 

With that being said, I'm also incredibly unhappy with my job.  Is there a thread meant to convince people to make drastic changes?  I know I could do it if I changed my lifestyle, and I'm not terribly unwilling to do that, I'm just scared to do it.  Any suggestions on threads to help me make some much needed changes in my life (quit job, sell house, go somewhere cheaper, enjoy life).

Roots&Wings

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Re: Race from $1M to $2M
« Reply #1049 on: January 23, 2020, 07:21:25 AM »
With that being said, I'm also incredibly unhappy with my job.  Is there a thread meant to convince people to make drastic changes?  I know I could do it if I changed my lifestyle, and I'm not terribly unwilling to do that, I'm just scared to do it.  Any suggestions on threads to help me make some much needed changes in my life (quit job, sell house, go somewhere cheaper, enjoy life).

Financially it seems there's no need to take any job crap that's making you unhappy. There are several case studies in the Ask a Mustachian section where people have made big changes in their life (yes big change is scary). Posting details there might help.

Pinning down what is causing the unhappiness is usually a good starting place before making drastic changes (what has changed with your job or living situation that's prompted this? Do you think moving somewhere new will add to your happiness, or will leaving family/friends cause additional stress? MMM's "moving to a better place" post, https://www.mrmoneymustache.com/2011/09/28/get-rich-with-moving-to-a-better-place/

Congrats on nearing the $2M mark, I recently crossed $1M, and the freedom that money brings to make changes is one of the best gifts.

 

Wow, a phone plan for fifteen bucks!