Author Topic: Race from $2M to $4M...and Beyond!  (Read 956499 times)

Bird In Hand

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Re: Race from $2M to $4M...and Beyond!
« Reply #5750 on: January 03, 2022, 09:10:13 AM »
Jan/21: As of close of the markets yesterday, we joined this race for the first time with an aggregate balance of $2.005M across all our savings/retirement/investment accounts.  TNW including home equity is somewhere a little north of $2.4M.

Jun/21: LNW was flirting with $2.2M for what seemed like months.  We finally crossed that threshold sometime in the past couple weeks and have stayed there since.  With similar market performance for the rest of the year we could be knocking on the door of $2.5M by end of year, or about $3M TNW.   100k/year @ 4% SWR.  That's nuts.

Aug/21: We crossed $2.3M today.  I don't know why it seemed like such a long time to go from 2.2 to 2.3.  It was only two months.

Nov/21: The recent market run-up brought us to just over $2.4M invested as of COB Thurs.  This last $100k took almost 3 months (cue world's smallest violin).  Closing out the year at $2.5M may be a stretch, but is certainty feasible.

I didn't pay attention to the markets at all for the past couple months (practice for FIRE?).  We ended the year at about $2.425M invested.  I was hoping for $2.5M, but going up $425k in 2021 isn't worth complaining about.

PhrugalPhan

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Re: Race from $2M to $4M...and Beyond!
« Reply #5751 on: January 03, 2022, 09:28:54 AM »
Liquid investments grew 34% this year (+ $490k) and now I am closing in on $2 Mil with only them, ignoring my house ($400k), my pension (maybe worth $600k), or the GF (her TSP is just shy of $2Mil as well).  The pension haircut goes away at the end of this year and will almost double in value.  Oh, just survive one more year.... and then Fat FIRE here I come.

2KidFIRE

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Re: Race from $2M to $4M...and Beyond!
« Reply #5752 on: January 03, 2022, 11:03:24 AM »
EOY Invested Assets
2017 - $1.76M
2018 - $1.80M (+2.2%)
2019 - $2.56M (+42.2%)
2020 - $3.20M (+24.9%)
2021 - $3.96M (+23.6%)

Clearly 2021 was a great year for the markets.  My wife left her job at the end of September in 2021 and I'm planning to do the same at some point in 2022; probably no later than the end of May.  Happy New Year everyone!

EscapeVelocity2020

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Re: Race from $2M to $4M...and Beyond!
« Reply #5753 on: January 03, 2022, 06:27:25 PM »
Wow, this forum definitely seems to be more about FI (fat FI, if we're being honest) than ER.  I monitor the annual FIRE cohort threads and there are a smattering of pullers of ripcords, but ultimately it seems like buffering the stache OMY is the predominant name of the game.

Not criticizing, just pointing it out because others have been annoyed at my lack of ER at various points in my journey...  to each their own, it's nice MMM'ers are getting good options these days.

rmorris50

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Re: Race from $2M to $4M...and Beyond!
« Reply #5754 on: January 03, 2022, 06:38:45 PM »
Wow, this forum definitely seems to be more about FI (fat FI, if we're being honest) than ER.  I monitor the annual FIRE cohort threads and there are a smattering of pullers of ripcords, but ultimately it seems like buffering the stache OMY is the predominant name of the game.

Not criticizing, just pointing it out because others have been annoyed at my lack of ER at various points in my journey...  to each their own, it's nice MMM'ers are getting good options these days.
Yeah I’m my quest for early retirement, it actually gave me perspective to enjoy the journey, and to understand that I’ll prob never truly retire, but change how I work going forward. For the past 25 years I’ve work for three corporations and would have been very uncomfortable with unpaid time off or jumping around gigs. Going forward I see the opposite, hopefully shorter gigs and a good amount of time off in between. Or so I hope. And doing gigs I really enjoy. Or maybe I’ll be a house husband and do house projects while the spouse keeps working.


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SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5755 on: January 03, 2022, 08:29:36 PM »
Wow, this forum definitely seems to be more about FI (fat FI, if we're being honest) than ER.  I monitor the annual FIRE cohort threads and there are a smattering of pullers of ripcords, but ultimately it seems like buffering the stache OMY is the predominant name of the game.

Not criticizing, just pointing it out because others have been annoyed at my lack of ER at various points in my journey...  to each their own, it's nice MMM'ers are getting good options these days.
This THREAD is more about fat FIRE than lean FIRE, that's for sure.   Not sure you could generalize it to the MMM population at large.   OMY is a reasonable compromise before taking such a big, important step.   It gets a bit silly after 3 times, but emotions are what they are.

ER wasn't an option for us.  I was 55 when I found MMM and my wife was 65.   

We had to be EXTRA EXTRA EXTRA secure in our FIRE choices because we have a mentally handicapped daughter who simply cannot take care of herself, so if we get it wrong, she's the innocent one who pays for our mistake.   So, multiple safety margins were a must for us.

Our original plan was for a spend of about $60K per year and an income of (approximately, from memory, 'cause I'm not going to go back to 2012 and dig thru my journal):

 $32K social security
 $20K rental home income
 $28K stock income
===================
=$80K

That way, we would have plenty of buffer just in case, because we were saving for two retirement periods, one for the 3 of us and one for our daughter after we both died.

Not LeanFIRE but not crazy high levels of Fat FIRE either.  A good, solid, middle-class income with a paid off house and cars.

A year before we planned to FIRE, we reached a net worth of $1M, which included our paid off home at $120k, three rental homes (2 rent-ready), and the rest in stocks and bonds.  We wanted to get that 3rd home rent-ready, pick up a fourth and renovate it, replace our beaters with newer cars, and pad the stash a bit more   That would put us within a year of my wife filing for her max SS at age 70.

Then my mom died and we doubled our net worth overnight.   That's how we got into this group so quickly instead of it taking many years for the stock component to grow and the property to appreciate in value.

But hey, we weren't going to toss that financial gain away.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5756 on: January 04, 2022, 12:09:59 PM »
Wow, this forum definitely seems to be more about FI (fat FI, if we're being honest) than ER.  I monitor the annual FIRE cohort threads and there are a smattering of pullers of ripcords, but ultimately it seems like buffering the stache OMY is the predominant name of the game.

Not criticizing, just pointing it out because others have been annoyed at my lack of ER at various points in my journey...  to each their own, it's nice MMM'ers are getting good options these days.
Yeah I’m my quest for early retirement, it actually gave me perspective to enjoy the journey, and to understand that I’ll prob never truly retire, but change how I work going forward. For the past 25 years I’ve work for three corporations and would have been very uncomfortable with unpaid time off or jumping around gigs. Going forward I see the opposite, hopefully shorter gigs and a good amount of time off in between. Or so I hope. And doing gigs I really enjoy. Or maybe I’ll be a house husband and do house projects while the spouse keeps working.


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Its a curious change in thought process over recent years that strikes me.

Back in 2014 I had just over $1M liquid and retired shortly after that. Today we are at $3.1M liquid. Didn't do anything to get to this fat fire place.. It just happened.

I am still frugal because  always have been and have just taken a 6 month contract job.. I certainly don't need the money but the opportunity to add a little more to the stash is just too hard a temptation to pass up.

I find myself behaving in way that made sense at $1M, but really do not at $3M... Like do we fly internationally in Business class.. Heck no, but we could, so why don't we?

Why am I back at work?.. certainly don't have to be. I think lifelong habits just take a while to change perhaps.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #5757 on: January 04, 2022, 01:33:50 PM »
Dude, you totally love a challenge.

2KidFIRE

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Re: Race from $2M to $4M...and Beyond!
« Reply #5758 on: January 04, 2022, 02:41:39 PM »
Wow, this forum definitely seems to be more about FI (fat FI, if we're being honest) than ER.  I monitor the annual FIRE cohort threads and there are a smattering of pullers of ripcords, but ultimately it seems like buffering the stache OMY is the predominant name of the game.

Not criticizing, just pointing it out because others have been annoyed at my lack of ER at various points in my journey...  to each their own, it's nice MMM'ers are getting good options these days.

I agree with @SwordGuy that any discussion in a "$2-4M +" thread is going to mostly consist of folks in the Chubby-to-Fat FIRE range.  Unless you're in a VHCOL area it would be hard not to fall into one of those groups with that kind of stache.

I also think there are different interpretations of RE.  For some if you're before age 60 then you've made it, where for others if you're still working past 35 than you didn't really RE.  My wife and I are in our late 30's/early 40's and are looking to retire this year, and I would definitely consider us to be RE.

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #5759 on: January 04, 2022, 03:36:46 PM »
I am still frugal because  always have been and have just taken a 6 month contract job.. I certainly don't need the money but the opportunity to add a little more to the stash is just too hard a temptation to pass up.

I have been receiving weekly calls from my old company asking me to come back for a short term gig but I have found it easy to hold firm.

I will be turning 60 this year and I am finding myself increasingly more protective of my time. My dad definitely started showing signs of Alzheimer's by age 80...

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5760 on: January 04, 2022, 03:53:57 PM »
I am still frugal because  always have been and have just taken a 6 month contract job.. I certainly don't need the money but the opportunity to add a little more to the stash is just too hard a temptation to pass up.

I have been receiving weekly calls from my old company asking me to come back for a short term gig but I have found it easy to hold firm.

I will be turning 60 this year and I am finding myself increasingly more protective of my time. My dad definitely started showing signs of Alzheimer's by age 80...

Yes comparing money with life expectancy is a real thing at 60...:)

Car Jack

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Re: Race from $2M to $4M...and Beyond!
« Reply #5761 on: January 04, 2022, 07:03:30 PM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

G-dog

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Re: Race from $2M to $4M...and Beyond!
« Reply #5762 on: January 04, 2022, 07:46:38 PM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

Well, if you have to give up one thing - E is the obvious choice!

GreenEggs

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Re: Race from $2M to $4M...and Beyond!
« Reply #5763 on: January 04, 2022, 08:17:17 PM »
Sitting in Costa Rica for a couple of weeks.  Life is good. 



pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #5764 on: January 04, 2022, 09:23:04 PM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

Nope - You are still early.  You have to be about 66 and 6 months for normal Social Security at 100 percent.

BeanCounter

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Re: Race from $2M to $4M...and Beyond!
« Reply #5765 on: January 05, 2022, 07:37:45 AM »
 I was just looking at some old files and realized the value of our invested assets increased an average of 20% for 2019-2021 for a total increase of $1.7M. That is ridiculous. There is some savings and contributions in there, but the strong majority was just market returns. 
Surely the markets will right themselves at some point? Honestly it doesn't even matter anymore when/if it does. A 30% hit to our portfolio now means that we go from spending 2.57% of the portfolio to 4%. More than 30% correction and we might have work to cut some expenses.

trashtalk

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Re: Race from $2M to $4M...and Beyond!
« Reply #5766 on: January 05, 2022, 09:18:59 AM »
Surely the markets will right themselves at some point? Honestly it doesn't even matter anymore when/if it does. A 30% hit to our portfolio now means that we go from spending 2.57% of the portfolio to 4%. More than 30% correction and we might have work to cut some expenses.



I don’t know what’s going to happen but it’s been a looooong push upward.

JoJoP

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Re: Race from $2M to $4M...and Beyond!
« Reply #5767 on: January 05, 2022, 09:46:24 AM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

Well, if you have to give up one thing - E is the obvious choice!

Both the stash and the birthdays just keep rolling along.   The Early part flies by in the blink of an eye.  And then the rest flies by at an even faster pace.  My older relatives used to muse about fast the years roll by.   I was in my 30's, they were 70+.   At the time, I listened politely.   Those conversations held no real meaning.  Now, I understand and relate.   We do not know when our tenure here is up. 

I have yet another dear friend who has been diagnosed with advanced cancer.   She's 61.  Not terribly young, but certainly not old either.   I'm a cancer survivor myself, and but for the Grace of God I might not be here.  Life is a gift. 

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #5768 on: January 05, 2022, 09:49:35 AM »
I was just looking at some old files and realized the value of our invested assets increased an average of 20% for 2019-2021 for a total increase of $1.7M. That is ridiculous. There is some savings and contributions in there, but the strong majority was just market returns. 
Surely the markets will right themselves at some point? Honestly it doesn't even matter anymore when/if it does. A 30% hit to our portfolio now means that we go from spending 2.57% of the portfolio to 4%. More than 30% correction and we might have work to cut some expenses.

I wonder if your hit will come from the other direction.  There's a lot of noise about inflation.  Governments around the globe have increased the amount of money in recent years.  Wise people have told me that there are many factors that cause inflation, but wise people have also told me that the money supply thing is one of them.  I'm just saying that even if your stocks stay up at stratospheric value, you may be effectively penalized by all the stuff you need to spend money on.

The markets may be right now and the price of everything else is going to rise to match.

EscapeVelocity2020

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Re: Race from $2M to $4M...and Beyond!
« Reply #5769 on: January 05, 2022, 12:36:10 PM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

65 could be considered an early retirement if you turn out to live to 112 like this guy - https://www.klfy.com/louisiana/oldest-wwii-veteran-a-louisiana-man-dies-at-112-years-old/

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #5770 on: January 05, 2022, 02:13:43 PM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

65 could be considered an early retirement if you turn out to live to 112 like this guy - https://www.klfy.com/louisiana/oldest-wwii-veteran-a-louisiana-man-dies-at-112-years-old/

Wow!  Drafted at 31.  I was surprised to see that they drafted men up to the age of 45 for WW2.

arcturus

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Re: Race from $2M to $4M...and Beyond!
« Reply #5771 on: January 05, 2022, 05:46:55 PM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

Nope - You are still early.  You have to be about 66 and 6 months for normal Social Security at 100 percent.

Yes -- what @pecunia said.....for me, full Social Security eligibility is age 67.  Soon it will be up to 70+.   

The FIRE movement is a diverse group -- from people who retire at 36 with $750K and plan on living on $25-30K per year to folks who fat FIRE at 65 with millions.  I'm somewhere closer to the latter (target 56-57);  I could never convince myself to do the former, but hey to each their own.

« Last Edit: January 05, 2022, 05:59:44 PM by arcturus »

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #5772 on: January 05, 2022, 07:42:31 PM »

- SNIP -

You cannot avoid making money unless you stuff it all in cash under the mattress..:)

It is hard too sleep on that lumpy mattress.

Right?.. You'd hit your head on the ceiling..:)

A stack of one million, $1 bills is 358 feet tall and over a ton.  We could judge our goals in feet.  1000 feet or bust!

Over 1100 feet now.  Shall we go for 1500 feet?

EscapeVelocity2020

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Re: Race from $2M to $4M...and Beyond!
« Reply #5773 on: January 05, 2022, 08:32:12 PM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

Nope - You are still early.  You have to be about 66 and 6 months for normal Social Security at 100 percent.

Yes -- what @pecunia said.....for me, full Social Security eligibility is age 67.  Soon it will be up to 70+.   

The FIRE movement is a diverse group -- from people who retire at 36 with $750K and plan on living on $25-30K per year to folks who fat FIRE at 65 with millions.  I'm somewhere closer to the latter (target 56-57);  I could never convince myself to do the former, but hey to each their own.

Something recent (in church-lady voice, hmmmmmm Trump maybe?) makes me think Social Security will continue to be underfunded and cut in the future as opposed to raising Federal taxes to bridge the shortfall...

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #5774 on: January 05, 2022, 08:56:16 PM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

Nope - You are still early.  You have to be about 66 and 6 months for normal Social Security at 100 percent.

Yes -- what @pecunia said.....for me, full Social Security eligibility is age 67.  Soon it will be up to 70+.   

The FIRE movement is a diverse group -- from people who retire at 36 with $750K and plan on living on $25-30K per year to folks who fat FIRE at 65 with millions.  I'm somewhere closer to the latter (target 56-57);  I could never convince myself to do the former, but hey to each their own.

Something recent (in church-lady voice, hmmmmmm Trump maybe?) makes me think Social Security will continue to be underfunded and cut in the future as opposed to raising Federal taxes to bridge the shortfall...

I think you are right.  Today's Republicans have a strong libertarian characteristic.  I believe when Trump was president they underfunded some federal agencies.  Then they couldn't do their assigned job.  Then the republican politicians could point at the agencies as examples of ineffective government.   Denying funds for Social Security would hurt a lot of people in the final stages of their lives.

I guess they would then point at the ineffectiveness of Social Security and go back to attempting privatization of all retirement.

It's a vicious cycle.


SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5775 on: January 05, 2022, 09:23:04 PM »
The Republican covid policies have culled the social security rolls and will continue to do so for some years.  Not my choice on how to make Social Security solvent, but then again, I have a heart.

jeroly

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Re: Race from $2M to $4M...and Beyond!
« Reply #5776 on: January 06, 2022, 06:58:00 AM »
I can't FIRE.  I turn 65 this month.  That ain't early.  DW and I know we could retire right now.  Mostly a psychological barrier from a life of saving and paying our own way (like college for both of us).  I do know I'm FI.  Someday the R will come.  The E went by years ago.

Nope - You are still early.  You have to be about 66 and 6 months for normal Social Security at 100 percent.

Yes -- what @pecunia said.....for me, full Social Security eligibility is age 67.  Soon it will be up to 70+.   
'm somewhere closer to the latter (target 56-57);  I could never convince myself to do the former, but hey to each their own.
For anyone born after 1960, full retirement age is 67 and will stay at 67 under current law into the future - there are no scheduled changes beyond the move from 65 to 67 that has been ongoing gradually for the last few years - e.g. my FRA is 66 years 10 months, birth year 1959.  To change 'full retirement age' would require the law to change.  Not to say it won't, but saying 'soon it will be up to 70+' is a stretch at best.

Turtle

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Re: Race from $2M to $4M...and Beyond!
« Reply #5777 on: January 06, 2022, 08:47:21 AM »
The Republican covid policies have culled the social security rolls and will continue to do so for some years.  Not my choice on how to make Social Security solvent, but then again, I have a heart.

There are now a lot more dependent children payouts coming out for the orphans, and eventually there going to be disability payouts for long Covid victims, so time will tell what the net hit to US Social Security ends up being.

Edit to add: Small sample of the 5 people I knew personally who passed away from Covid -- 4 were in prime working years and still working full time/contributing to SS, only 1 was retirement age and no longer contributing.  Between those 5 people, there are 3 children of various ages who will be receiving payments.
« Last Edit: January 06, 2022, 08:55:11 AM by Turtle »

lhamo

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Re: Race from $2M to $4M...and Beyond!
« Reply #5778 on: January 06, 2022, 08:56:43 AM »
The Republican covid policies have culled the social security rolls and will continue to do so for some years.  Not my choice on how to make Social Security solvent, but then again, I have a heart.

There are now a lot more dependent children payouts coming out for the orphans, and eventually there going to be disability payouts for long Covid victims, so time will tell what the net hit to US Social Security ends up being.

IIRC dependent payouts for a family are limited to 150-200% of the earner's full retirement benefit and stop at age 16 or when the child leaves or graduates from high school.  In most cases that probably means less being paid out overall than for a retiree who lives to a ripe old age. 

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #5779 on: January 06, 2022, 09:22:11 AM »
The Republican covid policies have culled the social security rolls and will continue to do so for some years.  Not my choice on how to make Social Security solvent, but then again, I have a heart.

There are now a lot more dependent children payouts coming out for the orphans, and eventually there going to be disability payouts for long Covid victims, so time will tell what the net hit to US Social Security ends up being.

IIRC dependent payouts for a family are limited to 150-200% of the earner's full retirement benefit and stop at age 16 or when the child leaves or graduates from high school.  In most cases that probably means less being paid out overall than for a retiree who lives to a ripe old age.

I was just going to chime in on this! I have been kind of saying this for a year. A disease that generally kills all the 55+ people and leaves the young relatively unscathed helps SS payouts overall.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5780 on: January 06, 2022, 09:51:41 AM »
The Republican covid policies have culled the social security rolls and will continue to do so for some years.  Not my choice on how to make Social Security solvent, but then again, I have a heart.

There are now a lot more dependent children payouts coming out for the orphans, and eventually there going to be disability payouts for long Covid victims, so time will tell what the net hit to US Social Security ends up being.

Edit to add: Small sample of the 5 people I knew personally who passed away from Covid -- 4 were in prime working years and still working full time/contributing to SS, only 1 was retirement age and no longer contributing.  Between those 5 people, there are 3 children of various ages who will be receiving payments.

Sorry, I didn't mean to imply I thought their policy would actually WORK. 

jeroly

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Re: Race from $2M to $4M...and Beyond!
« Reply #5781 on: January 06, 2022, 12:43:34 PM »
The Republican covid policies have culled the social security rolls and will continue to do so for some years.  Not my choice on how to make Social Security solvent, but then again, I have a heart.

There are now a lot more dependent children payouts coming out for the orphans, and eventually there going to be disability payouts for long Covid victims, so time will tell what the net hit to US Social Security ends up being.

IIRC dependent payouts for a family are limited to 150-200% of the earner's full retirement benefit and stop at age 16 or when the child leaves or graduates from high school.  In most cases that probably means less being paid out overall than for a retiree who lives to a ripe old age.

I was just going to chime in on this! I have been kind of saying this for a year. A disease that generally kills all the 55+ people and leaves the young relatively unscathed helps SS payouts overall.
That may be true, but doesn’t apply to Covid. Personal income took a big hit during the pandemic despite massive government help, and I think the SSA initial analysis was that pandemic-related reduced contributions were more or less a wash of the Covid-related increased mortality.

ysette9

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Re: Race from $2M to $4M...and Beyond!
« Reply #5782 on: January 06, 2022, 05:57:55 PM »
Updated the spreadsheet.

  • Dec 2019 - $2.4M
  • Dec 2020 - $3.0M
  • Dec 2021 - $3.6M

This is investable assets. It does not include house equity, 529s, our our brand-new DAF.

trashtalk

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Race from $2M to $4M...and Beyond!
« Reply #5783 on: January 06, 2022, 09:07:04 PM »
I’ve noticed that some posters in this thread are having to cut out certain assets (like value of primary residence, for example) to fit their net worth in the parameters of this thread.

If anyone’s interested, I created a successor thread:

Race from $5M to $10M…and Beyond
« Last Edit: January 06, 2022, 09:09:07 PM by trashtalk »

ysette9

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Re: Race from $2M to $4M...and Beyond!
« Reply #5784 on: January 06, 2022, 09:17:32 PM »
I’ve noticed that some posters in this thread are having to cut out certain assets (like value of primary residence, for example) to fit their net worth in the parameters of this thread.

If anyone’s interested, I created a successor thread:

Race from $5M to $10M…and Beyond
I’m not sure if that was directed at me or not. In case it was I don’t cut out assets to stay in this cool kids’ club but rather because my spreadsheet doesn’t track bike equity over time. I also don’t consider the 529s or DAF as our money; it is other people’s money that we manage.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5785 on: January 06, 2022, 09:29:36 PM »
I’ve noticed that some posters in this thread are having to cut out certain assets (like value of primary residence, for example) to fit their net worth in the parameters of this thread.

If anyone’s interested, I created a successor thread:

Race from $5M to $10M…and Beyond

Can't really say that's needed.   "... and Beyond!"  is good enough to cover everyone.

At historical average rates of return for both land/homes and our stock/bond portfolio, we'll hit that $5M club in about 2033.

No rush, we're happily retired and have plenty and to spare.

markbike528CBX

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Re: Race from $2M to $4M...and Beyond!
« Reply #5786 on: January 06, 2022, 09:44:59 PM »
I’ve noticed that some posters in this thread are having to cut out certain assets (like value of primary residence, for example) to fit their net worth in the parameters of this thread.

If anyone’s interested, I created a successor thread:

Race from $5M to $10M…and Beyond

Can't really say that's needed.   "... and Beyond!"  is good enough to cover everyone.

At historical average rates of return for both land/homes and our stock/bond portfolio, we'll hit that $5M club in about 2033.

No rush, we're happily retired and have plenty and to spare.

Other prior ...and beyond threads have been started, but typically peter out.

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-to-$5-million/

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-to-$/     and at least one more that I cant find at the moment.

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #5787 on: January 07, 2022, 03:42:39 AM »
I’ve noticed that some posters in this thread are having to cut out certain assets (like value of primary residence, for example) to fit their net worth in the parameters of this thread.

If anyone’s interested, I created a successor thread:

Race from $5M to $10M…and Beyond

Can't really say that's needed.   "... and Beyond!"  is good enough to cover everyone.

At historical average rates of return for both land/homes and our stock/bond portfolio, we'll hit that $5M club in about 2033.

No rush, we're happily retired and have plenty and to spare.

Yup - as a happily retired "beyonder", I agree :-)

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #5788 on: January 07, 2022, 08:07:27 AM »
What would I do if I trod through the wasteland of the beyond to reach the 5 million dollar mark?  Would it be like the Spaniards discovering El Dorado?  Would I travel the world seeing the seven wonders of the world?  Would I scuba dive the Great barrier reef?  Would I buy a ticket on Jeff Bezos rocket?

I'd probably just pay more taxes and clean snow from the driveway.

trashtalk

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Re: Race from $2M to $4M...and Beyond!
« Reply #5789 on: January 07, 2022, 08:58:08 AM »
I’ve noticed that some posters in this thread are having to cut out certain assets (like value of primary residence, for example) to fit their net worth in the parameters of this thread.

If anyone’s interested, I created a successor thread:

Race from $5M to $10M…and Beyond
I’m not sure if that was directed at me or not. In case it was I don’t cut out assets to stay in this cool kids’ club but rather because my spreadsheet doesn’t track bike equity over time. I also don’t consider the 529s or DAF as our money; it is other people’s money that we manage.
Totally wasn’t meant to pick on you specifically, yours was one that caught my attention after noticing it for a while. There are more on the “net worth increase” thread where if you read between the lines the person has to be worth 5M, 6M, 7M, or will be in very short order.

I think my overall instinct is “this stuff works — if you do mustachian living and investing long enough, the gains become almost inevitable and pretty soon you’re talking real money LOL.”

My thought was that if you are fortunate enough to be in “and beyond” territory, there may be a sense of isolation or survivor’s guilt, or just unique structural issues, that could be ameliorated by supportive online community.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #5790 on: January 07, 2022, 10:54:23 AM »
My thought was that if you are fortunate enough to be in “and beyond” territory, there may be a sense of isolation or survivor’s guilt, or just unique structural issues, that could be ameliorated by supportive online community.
We already have one, right here. We are a supportive online community.

This is a forum in support of "Financial Independence " and "Retiring Early". If you notice, some folks get a lot of shit for amassing large numbers and still not pulling the trigger.

That you are promoting another level suggests you're missing the point of FIRE entirely.

ETA: or you're a troll.
« Last Edit: January 07, 2022, 11:02:41 AM by Dicey »

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5791 on: January 07, 2022, 11:55:20 AM »
My thought was that if you are fortunate enough to be in “and beyond” territory, there may be a sense of isolation or survivor’s guilt, or just unique structural issues, that could be ameliorated by supportive online community.
We already have one, right here. We are a supportive online community.

This is a forum in support of "Financial Independence " and "Retiring Early". If you notice, some folks get a lot of shit for amassing large numbers and still not pulling the trigger.

That you are promoting another level suggests you're missing the point of FIRE entirely.

ETA: or you're a troll.

Or amassing moderate and numbers and then going back to work!..:)

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #5792 on: January 07, 2022, 12:17:24 PM »
My thought was that if you are fortunate enough to be in “and beyond” territory, there may be a sense of isolation or survivor’s guilt, or just unique structural issues, that could be ameliorated by supportive online community.
We already have one, right here. We are a supportive online community.

This is a forum in support of "Financial Independence " and "Retiring Early". If you notice, some folks get a lot of shit for amassing large numbers and still not pulling the trigger.

That you are promoting another level suggests you're missing the point of FIRE entirely.

ETA: or you're a troll.

Or amassing moderate and numbers and then going back to work!..:)
I may or may not have been thinking of you when I wrote that. But there are also others...

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5793 on: January 07, 2022, 12:26:45 PM »
My thought was that if you are fortunate enough to be in “and beyond” territory, there may be a sense of isolation or survivor’s guilt, or just unique structural issues, that could be ameliorated by supportive online community.
We already have one, right here. We are a supportive online community.

This is a forum in support of "Financial Independence " and "Retiring Early". If you notice, some folks get a lot of shit for amassing large numbers and still not pulling the trigger.

That you are promoting another level suggests you're missing the point of FIRE entirely.

ETA: or you're a troll.

Or amassing moderate and numbers and then going back to work!..:)
I may or may not have been thinking of you when I wrote that. But there are also others...

Traitors to the cause.. All of them..:)

texxan1

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Re: Race from $2M to $4M...and Beyond!
« Reply #5794 on: January 08, 2022, 02:34:56 AM »
EOY update

Liquid assetts- 2.95m


Target was 3, but took out 190k for a business deal.

My former side hustle ( ice vending machines, has now taken OFF). i own 9 now, instead of two and yes it requries work... Like ordering things and paperwork... Kid that works for me does the rest.

should bring me alot of mailbox money over the years....

Lets hope 2022 takes me to 4m

Cheers
Tex

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #5795 on: January 08, 2022, 07:10:59 AM »
EOY update

Liquid assetts- 2.95m


Target was 3, but took out 190k for a business deal.

My former side hustle ( ice vending machines, has now taken OFF). i own 9 now, instead of two and yes it requries work... Like ordering things and paperwork... Kid that works for me does the rest.

should bring me alot of mailbox money over the years....

Lets hope 2022 takes me to 4m

Cheers
Tex

Smart people out there - I read Warren Buffett  got started with vending machines.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #5796 on: January 08, 2022, 02:42:52 PM »
Inspired by this and other threads, DH and I did a little back-of-the-envelope math today. It seems our investments earned about $425 a day in 2021. Yup, money we didn't have to lift a finger to earn. Sweet!

If we count our RE appreciation, it's probably more than double that, but we know that shit's not real or sustainable, lol!

For no rational reason, DH is a little nervous about pulling the retirement ripcord this year, so this was a fun exercise.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #5797 on: January 08, 2022, 03:47:03 PM »
If we exclude the crazy-high spending this year that was either one-off or very infrequent in nature, our wealth would have gone up $1080 a day.   As it is, it ONLY went up $860 a day.

That's after subtracting out normal expenses.

It's simply awesome.

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #5798 on: January 08, 2022, 05:14:33 PM »
Inspired by this and other threads, DH and I did a little back-of-the-envelope math today. It seems our investments earned about $425 a day in 2021. Yup, money we didn't have to lift a finger to earn. Sweet!

If we count our RE appreciation, it's probably more than double that, but we know that shit's not real or sustainable, lol!

For no rational reason, DH is a little nervous about pulling the retirement ripcord this year, so this was a fun exercise.

It costs a lot more to live in the Bay area.  I can see having to work a little longer in a place like that.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #5799 on: January 08, 2022, 05:43:03 PM »
Inspired by this and other threads, DH and I did a little back-of-the-envelope math today. It seems our investments earned about $425 a day in 2021. Yup, money we didn't have to lift a finger to earn. Sweet!

If we count our RE appreciation, it's probably more than double that, but we know that shit's not real or sustainable, lol!

For no rational reason, DH is a little nervous about pulling the retirement ripcord this year, so this was a fun exercise.

It costs a lot more to live in the Bay area.  I can see having to work a little longer in a place like that.
He took this job for the Defined Benefit Pension, which includes COLA and a healthcare stipend. He needed to hit 20 years, which he did last May. He's just struggling a bit with the idea of a reduced paycheck. Yes, Bay Area COLA (especially property taxes) are part of his hesitation, but mostly it's not really rational fear.