Author Topic: Race from $1M to $2M  (Read 533883 times)

couponvan

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Re: Race from $1M to $2M
« Reply #1300 on: November 12, 2020, 04:48:59 AM »
Welcome @dandarc to the thread!  I stick around here even though we crossed over the $2.0 mark earlier this year because of the fuzzy math about nonproductive assets. :-)  Great progress over time!

asauer

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Re: Race from $1M to $2M
« Reply #1301 on: November 12, 2020, 06:48:58 AM »
Update:
Jan 2020: 852k
June 2020: 850k
Sept 2020: 1,057k
Nov 2020: 1,109k

LeftA

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Re: Race from $1M to $2M
« Reply #1302 on: November 14, 2020, 04:10:39 PM »
We crossed over the $1M mark in July 2019. Did some rough math today to add to the fairly precise number from 2 weeks ago, and it looks like we have now crossed over the $1.3M mark.

We are progressing faster than I expected, and may need to move up my RE date, as I知 looking to pull the plug when we hit around $2M.

chasesfish

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Re: Race from $1M to $2M
« Reply #1303 on: November 15, 2020, 03:35:23 PM »
Here's to hoping I re-cross this mark between now and year end. 

TheAnonOne

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Re: Race from $1M to $2M
« Reply #1304 on: November 17, 2020, 06:13:06 PM »
Hello there fellow millionaires! We finally get to join the exclusive club. Numbers are household net worth, USD.

$0-100k took 17 months.
$100k-250k took 23 months.
$250k-500k took 21 months.
$500k-1000k took 37 months.


Progress so far (abridged):
1/1/2008 - (12k)
8/24/2012 - 1k
1/1/2013 - 38k
1/1/2014 - 99k
1/1/2015 - 188k
1/1/2016 - 252k
1/1/2017 - 379k
1/1/2018 - 544k
1/1/2019 - 608k
1/1/2020 - 853k
11/9/2020 - 1,004k

My projections show us hitting $2 million net worth somewhere around 2030 assuming I stop working in 2024. But a lot can happen in 10 years.

That didn't take long! I was at around 1027 on the 9th. You'll probably recapture your lead soon though, been doing some remodeling and more to come. Also, trying to slowly write down some things on the balance sheet monthly, and aggressively at that. (Solar array, taking away $500/value a month or more, i'd rather it just be a 0 on the sheet but it'll take a while)

Not sure when FIRE is for us yet, but FAT-FIRE is around that 3-6 year zone. We could probably barebones FIRE in another 1-3 years.

RWD

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Re: Race from $1M to $2M
« Reply #1305 on: November 17, 2020, 08:55:39 PM »
11/9/2020 - 1,004k

That didn't take long! I was at around 1027 on the 9th. You'll probably recapture your lead soon though, been doing some remodeling and more to come. Also, trying to slowly write down some things on the balance sheet monthly, and aggressively at that. (Solar array, taking away $500/value a month or more, i'd rather it just be a 0 on the sheet but it'll take a while)

Not sure when FIRE is for us yet, but FAT-FIRE is around that 3-6 year zone. We could probably barebones FIRE in another 1-3 years.

Yeah, much faster than I expected as well! I really feel at the whim of the markets at this point. I've been ignoring updating our house value (purchased ~4.5 years ago). Zillow thinks our house has an extra 300 sq ft so I haven't been trusting its estimate. But if its to be believed our net worth is actually +$30k. Since there will be fees and commissions associated with selling I'm fine with continuing to lowball the estimate a bit.

Assuming predictable stock market returns (hah!) I am projecting ~$1.25M invested in Fall 2024 which has been my goal for a while now. I think I'll be comfortable pulling the trigger with $50k/year per a 4% SWR.

MikeO

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Re: Race from $1M to $2M
« Reply #1306 on: November 23, 2020, 08:43:29 AM »
So I'm the FNG here just crossing over the $1,000,000 mark this month.  I expect to flounder back and forth on that line as the market does it's thing.  Even though this isn't our FI number it is quite an accomplishment and we are feeling very very good.  We think our FI number is about $1.6.  So hopefully we can keep aggressively investing, and also hopeful that the market is generous to us.  Turning 48 in February we are excited to slow down our work life and speed up our vacation life.  I likely won't quit my job at FI but my wife will, I'll just stop doing overtime and step down from the base manager position - I work 7 days on 7 days off with 3 weeks of vacation every year.   So that means when I take 1 week of vacation we are off for 3 weeks.  Not too bad, every other week off, plus 3 three week vacations per year.   Plus I like what I do.  EMS helicopter pilot.

Investment Accounts
End Of Month Liquid Balance  $$ I invested  total change
Dec 2016  $322,818  $30,604     
Dec 2017  $438,627 $40,177 $115,809 
Dec 2018  $518,373 $87,168 $79,746 
Dec 2019  $778,776 $95,881  $260,403 
Dec 2020  $950,000 ? $140,000 ?  $171,224 ? 
    
Jan 2020  $777,421 $3,389 $-1,355
Feb 2020  $753,453 $4,390 $-23,968
Mar 2020  $645,440 $11,556 $-108,013
Apr 2020  $716,401 $8,303 $70,961
May 2020  $757,000 $4,080 $40,599
June 2020  $780,621 $4,130 $23,621
July 2020  $819,749 $3,810 $39,128
August 2020  $943,209 $82,688 $123,460
September 2020  $923,711 $7,671 $-19,498
October 2020  $921,558 $8,976 $-2,153
Mid- November 2020  $1,021,910 $3,000 $100,352

aspiringnomad

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Re: Race from $1M to $2M
« Reply #1307 on: November 25, 2020, 08:44:25 AM »
Crossed the finish line yesterday at 2,009k. Hard to believe it considering I FIREd in the middle of the year and in the middle of a pandemic. No doubt I'll be back and forth over the finish line several times before it sticks :)

dandarc

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Re: Race from $1M to $2M
« Reply #1308 on: November 25, 2020, 10:24:40 AM »
Congratulations @aspiringnomad!

Freedomin5

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Re: Race from $1M to $2M
« Reply #1309 on: November 25, 2020, 02:35:41 PM »
Crossed the finish line yesterday at 2,009k. Hard to believe it considering I FIREd in the middle of the year and in the middle of a pandemic. No doubt I'll be back and forth over the finish line several times before it sticks :)

Congratulations!

Watchmaker

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Re: Race from $1M to $2M
« Reply #1310 on: November 25, 2020, 03:02:00 PM »
               TNW            IA
Jun-05    -0.02 MM
Aug-13    0.15 MM
Sep-16    0.50 MM
Jul-19      1.02 MM
Nov-19    1.08 MM
Apr-20     1.04 MM
May-20    1.13 MM
Aug-20    1.28 MM     1.22 MM
Sept-20   1.28 MM     1.15 MM
Nov-20    1.51 MM     1.38 MM

Ticking along nicely.

Fomerly known as something

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Re: Race from $1M to $2M
« Reply #1311 on: November 26, 2020, 05:04:38 AM »
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.

So I haven稚 been very active here, but I知 getting closer to exit the other end of the group wow.  I did add in my small pension cash value ($29k, which is less than I have in my HSA) but I知 now at $1,939,xxx.xx. 

This does include my home equity based on Zillow prices, which I count as low compared to market value for my neighborhood when looking at recent home sales.

I知 56 month until I知 eligible to retire with my pension now.  (Not counting at all)

ETA:  I actually changed my asset allocation in January 2020 to a more conservative 70/30 mix instead of a 90/10.  I知 happy with my investments as is and now I知 cruising vs trying to accelerate.
« Last Edit: November 26, 2020, 05:11:42 AM by Fomerly known as something »

brooklynmoney

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Re: Race from $1M to $2M
« Reply #1312 on: November 26, 2020, 05:50:38 AM »
The recent surge has pushed me over the finish line for this group but I don稚 really believe it and am sure I値l be back so I値l just stay here haha. Happy Thanksgiving!

Zamboni

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Re: Race from $1M to $2M
« Reply #1313 on: November 26, 2020, 07:35:44 AM »
^lol, I know, right? Happy Thanksgiving, brooklynmoney and everyone.
How can this even be real? How can this be my financial situation?

                      LNW           TNW
Nov 2019     $1.02MM     $1.18MM
Dec 2019     $1.02MM     $1.24MM
Jan 2020      $1.11MM     $1.27MM
Apr 2020      $1.01MM     $1.18MM     & happy to be alive!
July 2020     $1.06MM     $1.23MM     (+$50K)   
Aug 2020     $1.11MM    $1.28MM     (+$50K)   
Sep 2020     $1.15MM    $1.33MM     (+$50K)
Oct 2020      $1.17MM    $1.36MM     (+$30K)
Nov 2020     $1.22MM     $1.51MM    (+$50K)

Dicey

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Re: Race from $1M to $2M
« Reply #1314 on: November 26, 2020, 02:43:21 PM »
11/9/2020 - 1,004k

That didn't take long! I was at around 1027 on the 9th. You'll probably recapture your lead soon though, been doing some remodeling and more to come. Also, trying to slowly write down some things on the balance sheet monthly, and aggressively at that. (Solar array, taking away $500/value a month or more, i'd rather it just be a 0 on the sheet but it'll take a while)

Not sure when FIRE is for us yet, but FAT-FIRE is around that 3-6 year zone. We could probably barebones FIRE in another 1-3 years.

Yeah, much faster than I expected as well! I really feel at the whim of the markets at this point. I've been ignoring updating our house value (purchased ~4.5 years ago). Zillow thinks our house has an extra 300 sq ft so I haven't been trusting its estimate. But if its to be believed our net worth is actually +$30k. Since there will be fees and commissions associated with selling I'm fine with continuing to lowball the estimate a bit.

Assuming predictable stock market returns (hah!) I am projecting ~$1.25M invested in Fall 2024 which has been my goal for a while now. I think I'll be comfortable pulling the trigger with $50k/year per a 4% SWR.
This is an easy fix, five minutes, max. Create a Zillow account. Enter your address, go to "Owner" view and claim your property. Pull up the Features List and adjust to your heart's content. Eventually, the other sites will catch on.

I bought a house before it was built. I had an extra room and bath added at the time of original construction. (It was a builder's upgrade, but few people knew it was available.) It was in a large subdivision and whoever submitted the plans to the County missed that it wasn't a standard model. I changed it on Zillow and now every other side uses the same figure. The Tax Assessor probably still has the incorrect number, but that has zero effect on my tax rate, so I've made no effort to fix it.

Having said that, Zillow's Zestimates are worth the paper they're printed on. They're mostly scientific wild ass guesses.

aspiringnomad

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Re: Race from $1M to $2M
« Reply #1315 on: November 26, 2020, 07:14:44 PM »
Crossed the finish line yesterday at 2,009k. Hard to believe it considering I FIREd in the middle of the year and in the middle of a pandemic. No doubt I'll be back and forth over the finish line several times before it sticks :)

Congratulations!

Thanks! I'll stick around for the inevitable dip, but for now it feels more satisfying than the 1 mill threshold. Didn't expect that.

Happy Thanksgiving to you and everyone else!

RWD

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Re: Race from $1M to $2M
« Reply #1316 on: November 27, 2020, 07:12:44 AM »
Zillow thinks our house has an extra 300 sq ft so I haven't been trusting its estimate.
This is an easy fix, five minutes, max. Create a Zillow account. Enter your address, go to "Owner" view and claim your property. Pull up the Features List and adjust to your heart's content. Eventually, the other sites will catch on.

I bought a house before it was built. I had an extra room and bath added at the time of original construction. (It was a builder's upgrade, but few people knew it was available.) It was in a large subdivision and whoever submitted the plans to the County missed that it wasn't a standard model. I changed it on Zillow and now every other side uses the same figure. The Tax Assessor probably still has the incorrect number, but that has zero effect on my tax rate, so I've made no effort to fix it.

Having said that, Zillow's Zestimates are worth the paper they're printed on. They're mostly scientific wild ass guesses.
I'm not particularly interested in creating a Zillow account if I don't have to... I have enough accounts scattered all over the web as it is (maybe around 400 accounts?).

Dicey

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Re: Race from $1M to $2M
« Reply #1317 on: November 27, 2020, 09:27:19 AM »
Zillow thinks our house has an extra 300 sq ft so I haven't been trusting its estimate.
This is an easy fix, five minutes, max. Create a Zillow account. Enter your address, go to "Owner" view and claim your property. Pull up the Features List and adjust to your heart's content. Eventually, the other sites will catch on.

I bought a house before it was built. I had an extra room and bath added at the time of original construction. (It was a builder's upgrade, but few people knew it was available.) It was in a large subdivision and whoever submitted the plans to the County missed that it wasn't a standard model. I changed it on Zillow and now every other side uses the same figure. The Tax Assessor probably still has the incorrect number, but that has zero effect on my tax rate, so I've made no effort to fix it.

Having said that, Zillow's Zestimates are worth the paper they're printed on. They're mostly scientific wild ass guesses.
I'm not particularly interested in creating a Zillow account if I don't have to... I have enough accounts scattered all over the web as it is (maybe around 400 accounts?).
Then what the hell is one more? You could make an account, fix what bugs you enough to write about here, then delete it. The changes will stick and you'll still be under 5 minutes.

AnxietyFly

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Re: Race from $1M to $2M
« Reply #1318 on: November 27, 2020, 12:59:25 PM »
Shoot...that was a long hike. It took us 24 years to get into this thread.  I don稚 expect to be here that long though.  My net-worth is $1,001,146 as of a few days ago.  Trying to setup my savings for an easy lifestyle starting at age 55. I have about thirteen years before I hit that age.  My income level is at risk due to COVID-19. Worst case scenario we would coast into retirement at the age of 62. 45% of our net-worth is a paid off house and pensions. One of the pensions I知 expecting to transfer the lump sum into an IRA.

Arbitrage

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Re: Race from $1M to $2M
« Reply #1319 on: November 30, 2020, 04:24:14 PM »
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
2/1/20: $1.041M / 1.522M
3/1/20: $990k / 1.463M
4/1/20: ~$810k / 1.278M
5/20/20: $950k / 1.428M
6/1/20: $1.009M / 1.493M
7/1/20: $1.042M / 1.524M
8/1/20: $1.098M / 1.600M
9/1/20: $1.151M / 1.660M
10/1/20: $1.138M / 1.641M
11/1/20: $1.155M / 1.678M
12/1/20: $1.290M / 1.804M

Took a bit of a bath on the last day of the month, but I definitely can't complain about a LNW increase of close to 12% in one month.

Finntastic

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Re: Race from $1M to $2M
« Reply #1320 on: November 30, 2020, 11:36:37 PM »
Unfortenately due to some bad real estate investment I'm out of this topic for awhile and back to racing to 1m.

9/2020 - 1.07m
10/2020 - 1.1m
11/2020 - 0.86

32% real estate, 51% cash, 13% crypto, 4% gold   

Goal to fire set to: 2m$ or 965 days from now, whichever comes first.

on the road

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Re: Race from $1M to $2M
« Reply #1321 on: December 01, 2020, 04:29:24 AM »

Liquid net worth

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

MikeO

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Re: Race from $1M to $2M
« Reply #1322 on: December 01, 2020, 05:37:02 AM »
End of November Close out, hoping to stay within this range going forward but you just never know.  in any case I just keep moving on

Investment Accounts
End Of Month Liquid Balance  $$ I invested  total change
Dec 2016  $322,818  $30,604     
Dec 2017  $438,627 $40,177 $115,809 
Dec 2018  $518,373 $87,168 $79,746 
Dec 2019  $778,776 $95,881  $260,403 
Dec 2020  $950,000 ? $140,000 ?  $171,224 ? 
    
Jan 2020  $777,421 $3,389 $-1,355
Feb 2020  $753,453 $4,390 $-23,968
Mar 2020  $645,440 $11,556 $-108,013
Apr 2020  $716,401 $8,303 $70,961
May 2020  $757,000 $4,080 $40,599
June 2020  $780,621 $4,130 $23,621
July 2020  $819,749 $3,810 $39,128
August 2020  $943,209 $82,688 $123,460
September 2020  $923,711 $7,671 $-19,498
October 2020  $921,558 $8,976 $-2,153
November 2020  $1,033,776 $2,446 $112,218
December 2020  $ $ $

Zoot

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Re: Race from $1M to $2M
« Reply #1323 on: December 01, 2020, 05:41:33 AM »
Another month-end, another update!

HISTORY:
Month/YearLiquid AssetsTotal Net Worth
Jan-17
$604K
$883K
Jan-18$836K$1,095K
Jan-19$872K$1,158K

YTD:
Month/YearLiquid AssetsTotal Net Worth
Jan-20$1,122K$1,438K
Feb-20$1,041K$1,360K
Mar-20$   927K$1,235K
Apr-20$1,025K$1,338K
May-20$1,082K$1,392K
Jun-20$1,109K$1,423K
Jul-20$1,174K$1,493K
Aug-20$1,247K$1,563K
Sep-20$1,215K$1,533K
Oct-20$1,197K$1,520K
Nov-20$1,319K$1,645K

I'd ask how that's even possible, but given the rise in all the stock indices, I won't bother.  Crazy times.

I've also been working on creating a stash-versus-spend graph, inspired by the work of another poster here whose name now escapes me (let me know if it's you--I'd like to thank you!).  I'm still working on the tax question (i.e., how will tax affect the stash needed to support our spending and taxation), but this graph will give me a good way to represent the ongoing refinement of my understanding.  The blue line is a 12-month rolling average of spending; the red line is projected yearly income at a 4% annual withdrawal rate from our investable assets.  When the lines cross, we're technically FI by those parameters; I'll have to refine my understanding of that once the time comes, but this graph gives me a good way to visualize our progress until that happens (conservatively projected for early 2023).

I'm also working on learning how to post images, so this post may end up with quite the edit history as I attempt to get THAT to work.  I learn so much here!  :)

Onward!

« Last Edit: December 01, 2020, 05:56:41 AM by Zoot »

couponvan

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Re: Race from $1M to $2M
« Reply #1324 on: December 01, 2020, 07:47:16 AM »
Stash to spend might be @C40 ? He does a good one, but I haven't seen him posting in awhile.

Ricochet

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Re: Race from $1M to $2M
« Reply #1325 on: December 05, 2020, 08:24:42 AM »
Welcome and awesome to see this progress! You sure did make a lot happen in the last ten years!

Hello there fellow millionaires! We finally get to join the exclusive club. Numbers are household net worth, USD.

$0-100k took 17 months.
$100k-250k took 23 months.
$250k-500k took 21 months.
$500k-1000k took 37 months.


Progress so far (abridged):
1/1/2008 - (12k)
8/24/2012 - 1k
1/1/2013 - 38k
1/1/2014 - 99k
1/1/2015 - 188k
1/1/2016 - 252k
1/1/2017 - 379k
1/1/2018 - 544k
1/1/2019 - 608k
1/1/2020 - 853k
11/9/2020 - 1,004k

My projections show us hitting $2 million net worth somewhere around 2030 assuming I stop working in 2024. But a lot can happen in 10 years.
If you doubled your money from 2018 to 2020, why would it take 10 years to double it again?

leighb

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Re: Race from $1M to $2M
« Reply #1326 on: December 05, 2020, 09:53:17 AM »
I'm joining. My numbers do not include the primary residence but do include rentals. It's difficult to accurately value the rentals so I just have the lot hold steady near 300K. I'm pretty conservative in places with a paid of primary and 9% liquid for emergencies. In other places, I'm risky by holding individual stocks and investing in real estate. I inherited the risky positions and am slowly moving everything towards a more boring and traditional place.

2014: 512K
2015: 467K (paid off primary)
2016: 514K
2017: 632K (quit the full time job)
2018: 697K
2019: 915K (+180K in a penny stock gamble)
2020: 1052K

Allocation: 62% equities, 29% rentals, 9% cash and gold

RWD

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Re: Race from $1M to $2M
« Reply #1327 on: December 05, 2020, 06:35:52 PM »
Hello there fellow millionaires! We finally get to join the exclusive club. Numbers are household net worth, USD.

$0-100k took 17 months.
$100k-250k took 23 months.
$250k-500k took 21 months.
$500k-1000k took 37 months.


Progress so far (abridged):
1/1/2008 - (12k)
8/24/2012 - 1k
1/1/2013 - 38k
1/1/2014 - 99k
1/1/2015 - 188k
1/1/2016 - 252k
1/1/2017 - 379k
1/1/2018 - 544k
1/1/2019 - 608k
1/1/2020 - 853k
11/9/2020 - 1,004k

My projections show us hitting $2 million net worth somewhere around 2030 assuming I stop working in 2024. But a lot can happen in 10 years.
Welcome and awesome to see this progress! You sure did make a lot happen in the last ten years!
If you doubled your money from 2018 to 2020, why would it take 10 years to double it again?
Well for one I don't intend to work for the next 10 years, so that will drastically slow the growth. I'm using pretty conservative return estimates as well. Also I realized after I posted that the projections I was looking at were for invested assets while the $1M mark we just hit was net worth. So $2M net worth will probably be closer to 8 years, give or take, using those projections.

okparallax

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Re: Race from $1M to $2M
« Reply #1328 on: December 06, 2020, 11:32:33 AM »
So we crossed over the 1 Million in Net Worth mark last week. We have +/- 80% of that in the market.  The last few years have been pretty unexpected for us, we went from 500k in June of 2018 to a million in 30 months. I don't expect that pace to continue but who knows. We have a lot of decisions to make as far as if/when to pay off the mortgage, if to buy rental real estate, and whether or not to front-load college savings accounts. Excited by all the possibilities though and it's been great seeing everyone's progress here.

TheAnonOne

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Re: Race from $1M to $2M
« Reply #1329 on: December 06, 2020, 08:15:52 PM »
Old data:
Spoiler: show

2015 DEC:252k<- Crossed 250k
--
2016 JAN:260k(+8k)
2016 FEB:281k(+21k)
2016 MAR:285k(+4k)
2016 APR:298k(+13k)
2016 MAY:305k(+7k)
2016 JUN:307k(+2k)
2016 JUL:320k(+13k)
2016 AUG:326k(+6k)
2016 SEP:336k(+10k)
2016 OCT:337k(+1k)
2016 NOV:361k(+24k)
2016 DEC:368k(+7k)
--
2017 JAN:382k(+14k)
2017 FEB:403k(+21k)
2017 MAR:416k(+13k)
2017 APR:427k(+11k)
2017 MAY:436k(+9k)
2017 JUN:449k(+13k)
2017 JUL:464k(+15k)
2017 AUG:478k(+14k)
2017 SEPT:494k(+16k)
2017 OCT:510k(+16k) <- Crossed 500k
2017 NOV:523k(+13k)
2017 DEC:534k(+11k)
--
2018 JAN:558k(+24k)
2018 FEB:569k(+11k)
2018 MAR:560k(-9k)
2018 APR:574k(+14k/+5k)
2018 MAY:575k(+1k)
2018 JUNE:575k(+0k)
2018 JULY:599k(+24k)
2018 AUG:620k(+21k)
2018 SEPT:625k(+5k)
2018 OCT:597k(-28k)
2018 NOV:606k(+9k/-19k)
2018 DEC:580k(-26k/-45k)
--
2019 JAN:628k(+48k/+3k)
2019 FEB:666k(+38k)
2019 MAR:677k(+11k)
2019 APR:706k(+29k)
2019 MAY:670k(-36k)
2019 JUNE:709k(+39k/+3k)
2019 JULY:712k(+3k)
2019 AUG:720k(+8k)
2019 SEPT:725k(+5k)
2019 OCT:753k(+28k)  <- Crossed 750k
2019 NOV:777k(+24k)
2019 DEC:798k(+21k)
--
2020 JAN:809k(+11k)
2020 FEB:780k(-29k)
2020 MAR:700k(-80k/-109k)
2020 APR:762k(+62k/-47k)
2020 MAY:818k(+56k/+8k)
2020 JUNE:840k(+22k)
2020 JULY:884k(+44k)
2020 AUG:1.002mm(+118k)



2015 DEC:252k
2016 DEC:368k
2017 DEC:534k
2018 DEC:580k
2019 DEC:798k
--
2020 JAN:809k(+11k)
2020 FEB:780k(-29k)
2020 MAR:700k(-80k/-109k)
2020 APR:762k(+62k/-47k)
2020 MAY:818k(+56k/+8k)
2020 JUNE:840k(+22k)
2020 JULY:884k(+44k)
2020 AUG:1.002mm(+118k)<-Crossed 1m
2020 SEP:979k(-23k/-23k)
2020 OCT:971k(-8k/-31k)
2020 NOV:1.058mm(+87k)

Dipped down for the last 2-3 months after peeking into the 7 figure mark. Solidly back there now, and actually higher today by a good amount.

It's interesting to see nearly $100,000 show up or disapear in a single month. I remember, a few year back, when we were pushing and stretching to reach 500k, growth was steady and mainly driven by us. Now it's almost 100% market based, sometimes it feels a bit pointless to push that $80k-$100k annually into the account when that value swings monthly anyway :)

Either way, no changes, keeping on track. Stache is sitting over 800k now, if we get a 10-15% market in 2021 we could see that crack a million as well.

thedigitalone

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Re: Race from $1M to $2M
« Reply #1330 on: December 07, 2020, 11:02:39 AM »

I haven't updated for a few months, depending on how you count things I need to go start looking at the $2-4m thread for TNW.

             LNW         TNW   
12/19    $0.96M     $1.43M
01/20    $1.00M     $1.47M
02/20    $1.04M     $1.53M
03/20    $1.05M     $1.55M
04/20    $0.98M     $1.48M
05/20    $1.08M     $1.58M
06/20    $1.18M     $1.62M
07/20    $1.24M     $1.76M   (+$60,485)
08/20    $1.34M     $1.85M   (+$96,706)
10/20    $1.29M     $1.81M   (-$42,908)
11/20    $1.27M     $1.80M   (-$11,038)
12/20    $1.39M     $1.91M   (+$116,078)

beeboy

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Re: Race from $1M to $2M
« Reply #1331 on: December 09, 2020, 10:10:56 AM »
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!

Hey fellow MMMers,

I hope everyone is doing well, staying safe and prospering financially.

It's been a while since I posted an update, but I've officially graduated from the club. It's been a wild year both professionally (I officially FIRE'd last March), and financially (March/April were scary times, but the market has been on an amazing tear since).

Here's approximately where I currently stand as of today:

* MS brokerage - 1,166,000 (which includes a balanced portfolio of stocks, about 215,000 in an annuity and 60,000 in cash)

* 401K - 678,000

* Checking - 20,000

* Savings - 118,000

* CD - 100,000

TOTAL - 2,082,000

Again, I hope you all are well on your way to your goals and let's all hope that the market keeps cooperating!

Cheers,

-bee
« Last Edit: December 09, 2020, 10:38:36 AM by beeboy »

MrsSpendyPants

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Re: Race from $1M to $2M
« Reply #1332 on: December 13, 2020, 11:20:40 AM »
Hit 1M total networth in July 2019.  Currently at 1.373M which exceeds our 2020 goal of 1.35M.  2021 goal will be 1.5M and 1M invested.  Our income has been severely impacted by the pandemic so we will only be able to save 65k next year so the remainder will have to come from the market.

ASquared

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Re: Race from $1M to $2M
« Reply #1333 on: December 14, 2020, 01:46:53 AM »
We hit 1M net worth last fall. Currently 1.2 and racing to 2. I could use any tips and inspiration from this group!

asauer

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Re: Race from $1M to $2M
« Reply #1334 on: December 14, 2020, 08:07:27 AM »
Update:
Update:
Jan 2020: 852k
June 2020: 850k
Sept 2020: 1,057k
Dec 2020: 1,110k

2021 is supposed to be my last year working so I'm going to be tightening up a bit more to throw a bunch at the 'stache.  We're technically at our FI number but I'm excited to have a little extra padding.

anotherAlias

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Re: Race from $1M to $2M
« Reply #1335 on: December 16, 2020, 07:35:38 AM »
Yesterday's surge pushed me over the $1million mark!  Technically I could retire today but my conservative nature has me OMYing it to build up a buffer.  I am currently working on the biggest and most stressful project of my career...so we'll see how long I last.  I'm hoping things at work will ease up in the new year.

asauer

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Re: Race from $1M to $2M
« Reply #1336 on: December 16, 2020, 08:32:48 AM »
Yesterday's surge pushed me over the $1million mark!  Technically I could retire today but my conservative nature has me OMYing it to build up a buffer.  I am currently working on the biggest and most stressful project of my career...so we'll see how long I last.  I'm hoping things at work will ease up in the new year.

@justchristine I'm the same way!  I OMYed too just to have a little more padding.  I'm in a similar work position and keep telling myself I can make it to Jan 2022 to get my bonus, haha.  Good luck with your project!

Fomerly known as something

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Re: Race from $1M to $2M
« Reply #1337 on: December 18, 2020, 05:09:21 AM »
We hit 1M net worth last fall. Currently 1.2 and racing to 2. I could use any tips and inspiration from this group!

Honestly the biggest tip is patience.  Once your accounts are up I. The 7 figure range, unless you have a big income, they are the ones doing the heavy lifting.  Just remember to stay on target when the swing wildly, especially in a market correction they will come back.

dodojojo

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Re: Race from $1M to $2M
« Reply #1338 on: December 18, 2020, 09:38:57 AM »
Not quite in this group yet, hoping to join in early-mid 2021.  But I agree with the above about patience, as much as it pains me to think I have to work for many more years.  But playing around with the calculators, the stash growing via bigger investment infusion versus the magic of compounding favors the latter immensely.  I could kill myself upping my investments or I could let it ride for 2-3 more years...and the latter gives me a bigger stash.  I've revised my mindset from FIRE to a gradual CoastFi.  I'm not doing CF now, but as I get closer to my FI number, I'll shift down to making enough to support expenses and letting the stash grow on its own.

rebel_quietude

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Re: Race from $1M to $2M
« Reply #1339 on: December 21, 2020, 01:28:20 PM »
Hey folks!

Dipping my toe in here, though I expect to go back and forth with market swings for a while.

2019     $826,413
2020     ~$1,009,752

Hope everybody's doing well!

BluePhoenix75

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Re: Race from $1M to $2M
« Reply #1340 on: December 22, 2020, 09:11:52 AM »
Hello!

Just graduated from the "Race from $500K to $1M" thread this month.   Happy to be here and hope to shave a significant amount of time off the race to $2M! 

Re-reading the Millionaire Next Door and Millionaire Woman Next Door (i'm a girl :D) over the holiday break for inspiration to redouble my efforts and as a reminder that I can easily behave my way out of what I've accumulated if I'm not careful!

Dec 2020 -  $1,004,814

Watchmaker

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Re: Race from $1M to $2M
« Reply #1341 on: December 22, 2020, 09:25:37 AM »
               TNW            IA
Jun-05    -0.02 MM
Aug-13    0.15 MM
Sep-16    0.50 MM
Jul-19      1.02 MM
Nov-19    1.08 MM
Apr-20     1.04 MM
May-20    1.13 MM
Aug-20    1.28 MM     1.22 MM
Sept-20   1.28 MM     1.15 MM
Nov-20    1.51 MM     1.38 MM
Dec-20    1.55 MM     1.42 MM

It feels crazy that I'm halfway through this race already.

TempusFugit

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Re: Race from $1M to $2M
« Reply #1342 on: December 22, 2020, 04:14:21 PM »
Welcome aboard @BluePhoenix75 and @rebel_quietude.   

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






rebel_quietude

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Re: Race from $1M to $2M
« Reply #1343 on: December 22, 2020, 08:20:09 PM »
Thanks, @TempusFugit !

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

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

TempusFugit

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Re: Race from $1M to $2M
« Reply #1344 on: December 24, 2020, 01:31:13 PM »
Thanks, @TempusFugit !

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

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

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

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


duellingbanjos

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Re: Race from $1M to $2M
« Reply #1345 on: December 24, 2020, 07:39:22 PM »
Hello.. long time reader, first time poster :)

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

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

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


MrsSpendyPants

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Re: Race from $1M to $2M
« Reply #1346 on: December 26, 2020, 06:31:10 PM »
Just hit 1.4M TNW!  Goal for 2021 is 1M LNW and 1.5TNW. 

YoungGranny

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Re: Race from $1M to $2M
« Reply #1347 on: December 29, 2020, 07:43:10 AM »
Excited to join this thread!

NW (approx):

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

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

JGS1980

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Re: Race from $1M to $2M
« Reply #1348 on: December 29, 2020, 08:48:27 AM »
Excited to join this thread!

NW (approx):

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

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

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

Bird In Hand

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Re: Race from $1M to $2M
« Reply #1349 on: December 29, 2020, 09:39:10 AM »
July 2019: LNW (barely) crested $1.5M for the first time yesterday, TNW is very close to $1.9M.
Nov 2019: LNW has been a little over $1.6M for a week or so, with TNW at just over $2.0M.

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

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

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

 

Wow, a phone plan for fifteen bucks!